| FlexiCash - FAQs - |
FAQs
Who can avail of an ICICI Bank FlexiCash? A Salary Account customer of ICICI Bank working with Elite, Super Prime and approved list of companies and salaried doctors as per classification by ICICI Bank.
What are the minimum and maximum loan amounts? You can avail of loans ranging from Rs.10,000 to Rs.3,00,000 depending on your eligibility, income and repayment capacity. What are the facility tenure options? This facility will be provided for one year with an option to renew every year subject to satisfactory performance of the account. What are the lending rates? How much shall I pay for this facility? ICICI Bank FlexiCash comes to you at an attractive interest rate and is based on trends prevailing in the market at the time of the loan. You pay only when you use the money and exactly for the number of days the money is used. How is the interest on my account calculated? In the overdraft account, interest will be charged only on the amount you draw and for the period that you draw. Therefore, interest will be charged on a daily basis, but will be debited to your account only once a month. Do I have to pay any additional fee? How do I approach ICICI Bank for a Loan? You can approach us in any of the following ways
Delhi, Mumbai, Chennai, Kolkatta, Banglore, Hyderabad, Chandigarh, Pune, Ahemdabad, Jaipur, Kochi, Indore, Lucknow. How much time will it take for my loan to be approved? It takes six business days for the approval and for the setting up of the credit limit in your account. What is Cheque Protect Facility? Under 'Cheque Protect' in the event of insufficient funds in Salary Account, funds will be swept in from the linked Flexicash account to honour the debit. Such sweeps are treated as withdrawals under the facility. What security/collateral do I have to provide? There is no need for any security or collateral. You can repay the loan through cash, cheque or demand draft and electronic credit. Yes, the loan can be prepaid; there are no prepayment charges.
Do I need to open an account with ICICI Bank for availing of the loan? Yes, an overdraft current account will be opened in which the credit limit for you will be set. Where will my account be opened? At any branch of your choice. However, you can operate out of any of our branches under the Anywhere Banking facility. How do I get to know my Credit Limits?
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