MG Motor India Launches e-Pay Portal for Fast Auto Loan Approval | Mobility news

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MG Motor India has launched MG e-Pay, an end-to-end online car finance platform with fast loan approvals. The site was created with the aim of providing transparent and convenient online car buying options.

MG has partnered with ICICI Bank, HDFC Bank, Kotak Mahindra Prime & Axis Bank to offer personalized and instant financing options under MG e-Pay. The car manufacturing company expects to provide easy services with eXpert and e-Pay.

eXpert software helps customers achieve a holistic digital experience, e-Pay adds to this by adding flexibility in online financing solutions, helping customers from discovery to customizable, customer-centric delivery.

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MG e-Pay will simplify the customer’s purchase journey in 5 clicks and 7 simple steps. Customers now have the choice of reserving MG cars online or at their nearest MG dealerships, customizing their cars with accessories, merchandise, protection plans and more.

Additionally, customers have access to pre-approved loan offers from multiple financiers and can customize the loan term, amount and interest rate. Customers can benefit from these online financial services without leaving their homes. They can also track loan approval status and sanction letters in real time and have their new cars delivered to their doorstep.

The customer must first select the car and the dealer of his choice, fill in the reservation form and pay the amount of the reservation. Once he receives pre-approved loan offers from his bank, he can proceed to apply for a loan by completing the loan application.

After receiving the loan approval on the website and paying the deposit, the bank will disburse the loan within a stipulated time and the customer will receive his vehicle at his doorstep.

MG ePay’s new car loan facility is online with four banks (ICICI Bank, HDFC Bank, Kotak Mahindra Prime & Axis Bank), and the brand is working with other banks and NBFC to expand its portfolio, offering greater choice to potential buyers.

Speaking at the launch of MG ePay, Gaurav Gupta, Chief Commercial Officer of MG Motor India, said, “At MG, we are constantly innovating our digital platforms to stay connected with our customers and ensure best-in-class experience. After effectively serving over 1 million customers through the MG online shopping platform, we intend to go further and simplify the customer journey to have suitable financing options for the purchase. cars online.

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