| Loans - Consumer durable loan - FAQs - |
Whom do we lend? ( Entities, Age & Income Eligibility) Offered to Resident Indians Is there a pre approved loan for the existing ICICI bank customers? Yes LOP Schemes (would share the details once finalized) What are the products for which the loan is offered? Consumer Durables: Refrigerators, Washing Machines, Window Air, Split Air Conditioners, Microwave Ovens, Televisions, Music Systems – CD based, VCD players, Reverse Osmosis Water Purifiers, Camcorders, DVD Players, Home Theaters, Invertors, Digital Cameras, Car Audio Systems, World Space Radios, Branded Furniture –Durian, Style Spa etc., I-Pods, X Box, Sharp, BPL, Hitachi, Onida, Panasonic, Philips, LG, Sony, Samsung, Sansui, Toshiba, Videocon, Kenwood, Godrej, Kelvinator, Siemens, Whirlpool, IFB, Electrolux, Amtrex, Carrier, Voltas, General Electric, Fedders Lloyd, Nokia, Motorola, Haier, Sony Erickson, TCL, Daikin, O’ General, Bose, Usha, Pent Air, Micro Soft, Ken Star Eureka Forbes, Kent Microtek, Su-kam, Compaq, HCL, Acer, Wipro, IBM, HP (Hewlett Packard), Toshiba, Lenovo. Which are the Popular Schemes?
Refer list of schemes submitted
What is the minimum and maximum loan amount can be availed?
CD: Min Rs. 5,000/- to max Rs. 300000/- What will be the tenure of the loan?
CDL : Min. 12 mnths – Max 36 mnths Depending on tie-up and schemes with the Manufacturers. For Schemes where interest is payable by the customer we charge Flat Rate of Interest. What is the processing fee applicable?
We charge a one time non-refundable processing fee of Rs675 or 2.24%(Incld ST) which ever is higher What are the documents the cm needs to submit?
Facility Application Form, Self Attested Photograph, Income Proof, Bank Statements, Identity proof, Residence proof, FI and TVR at residence and office, Partnership deed /MOA/AOA What is the TAT for the loan disbursement?
8 Hours from submission of Pre- sanction documents
Can the cm have a co-applicant for the loan?
Yes. Co applicant can be taken to meet age, income criteria. Co applicant should be parent, wife, son, daughter, and daughter in law, son in law, bother or sister. How many co-applicants a cm can have for CD loan?
Only one.
Can the cm give the PDC’s form two different accounts?
Yes it can be given but the entity should be one either applicant or co-applicant. If ECS /PDC/AD gets bounce for 1st time, will we represent/bank again or the cm needs to make cash payment.
Its will be represented. Bounce Charges would be as applicable.
What are the cheque bounce charges?
Rs. 200/-
What is the late payment penalty?
The charges for late payment is 2% per month
Can the cm change the mode of repayment? If yes, what is the procedure & what are the charges for the same?
Yes. The swapping charges are Rs. 500/- + 12.24% ST. CM needs to visit the RAPG office with a new set of PDCs/instructions for ECS or AD When the cm will receive the old PDC’s post swapping?
Within 7 working days
When the cm will receive the balance PDC’s after the foreclosure of the loan?
Within 7 Working days
No
Can the cm foreclose the loan? What are the charges applicable?
Yes, the loan can be foreclosed. The foreclosure charges of 5% on principal outstanding + 12.24% ST If the cm wants to foreclose the loan before the EMI due date and has opted for an ECS/ Auto Debit facility what is the procedure and time frame to cancel the ECS/ AD instructions?
Instruction for stop payment would be issues by Ops as the foreclosure is done. Will the cm get a No Due Certificate (NDC) post closure of the loan?
Yes, only on customer's request along with the SPDCs the NDC is given. Where the cm can get the SOA from? Are there any charges?
The local operations at the RAPG customer service office’s to be contacted and charges applicable as per present rates for issuing the same. Or you could place your request at Phone Banking. Where the cm can get the amort from? Are there any charges?
The amortization schedule is sent along with the welcome letter. No charges applicable. How many SPDC’s the cm needs to submit?
Total 2 no. of SPDC’s favoring “ICICI Bank Ltd – CD Loans” duly crossed and undated Amount should be kept blank preferably. 1 Cheque would be used for the total contractual value (EMI*Net tenure) and the 2nd one for penal and cheque bounce charges. If the loan is disbursed between 1st to 15th: EMI date will be 10th of
next month. IF, 16th to 31st: EMI will be 5th of next to next month.
Can the cm change the EMI dates?
No.
Can the PDC’s be issued form the co-applicants a/c?
Yes PDC's can be issuedfrom any one entity either applicant or co-
applicant completely.
How will I know about my loan application?
Status can be obtained from the canvassers.
How can I get someone to contact me to service my sales query?
Can I pre-close loan before the maturity & what are the charges ?
Yes pre closure is allowed and charge 5% on the principal outstanding. Will there be a No dues certificate issued after completion of the Loan
--- Issued and along with the letter the SPDC’S if any will be returned back.
No
What are the documents to be submitted after the sanction?
Post Sanction Documents as listed below:
What are documents in Income Proof.
Income Proof are as listed below.
Salaried (any one of the following) What are Identity Proof documents?
Identity Proof Documents are s mentioned below:
What are Residence Proof documents?
Residence Proof documents are as belowmentioned.
What are the signature verification documents?
signature verification documents are given below.
For Individuals/Firms: (Any one of the following)
Bankers verification including verification through I-view
Do we have approved list of companies for CDL?
Yes. List is enclosed.
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