ICICI Bank Home Overdraft FAQs

I wish to take Loan against my property, Can I avail this product?

Yes, this product is available to salaried customers* who wish to take a Loan Against Property, Top-up, Balance Transfer + Top-up.


Note: - Salaried Customer* - Customer with ICICI Bank Salary Account or working with Select corporates.

I have a home loan with other bank/financial institution? Can I transfer my loan to ICICI Bank and avail this product?

Yes, all salaried customers* having a Home Loan or Loan Against Property with other banks/financial institutions can transfer their loans to us and avail this product.


Note: - Salaried Customer* - Customer with ICICI Bank Salary Account or working with Select corporates.

I am an existing ICICI Bank Home Loan customer. Can I take this product?

Yes, an existing Home Loan salaried customer* can avail this product.


Note: - Salaried Customer* - Customer with ICICI Bank Salary Account or working with Select corporates.

How much loan amount is offered under this product?

Minimum of 5 Lakh and maximum of 1 Crore overdraft amount is offered under this product.

Is there any fee for renewal of Overdraft limit?

Yes, the overdraft offered with this product is renewable annually, and will attract applicable renewal charges, which will be debited to the overdraft account.

Do I need to submit separate KYC documentation / Application form to avail of overdraft facility?

No, to avail this product the common set of KYC documentation will be used for Home Loan as well as the linked overdraft account. Addendum applications for savings and overdraft account will be collected together with the Home Loan application form.

What is Sweep in and Reverse Sweep facility?

Since savings and overdraft accounts will be linked in this product, you can avail of Sweep in and Reverse Sweep facility. Under the Sweep in facility, the limit available in the overdraft account will be seamlessly made available for transactions in the savings account while under the Reverse Sweep facility, any excess funds available in the savings account will be swept back into the overdraft account, in order to reduce the interest cost incurred by you.

Will there be a reset in my interest rate on Home Loan and overdraft facility?

Yes, as your loan and overdraft is linked with Benchmark Rate i.e., I-MCLR-1Y. Interest will be reset on annual basis.

Will the rate of interest on the overdraft be the same as Term Loan?

No, the overdraft amount utilized by the customer will be chargeable at rate of interest applicable to the overdraft product.

Will I get a separate cheque-book for the overdraft account?

The product is available for both customers having existing salary account and customers who do not hold a salary account.

  • A cheque-book and debit card for savings bank account will be provided, the OD can be operated through the salary account.
  • The existing cheque book & debit card of the salary account can also be used for linked overdraft account.

Can overdraft account be closed any time or is there a lock in period?

There is no lock in period for overdraft account, customer can close the account anytime.

If a customer wants to avail overdraft facility but has salary account with some other bank, can he transfer his salary account with us and avail the facility

The customer can avail of this facility without transferring his salary account to ICICI Bank. However, he needs to be working with select corporate.

Can a customer avail overdraft facility if he has only salary relationship with the bank and no Home Loan?

A salaried customer needs to have a Home Loan or he can take a Loan Against Property to avail this facility.

Is there any restriction on usage of the overdraft amount, can it be used for any purpose of purchase?

Yes there is a restriction on the usage, the funds cannot be used for speculative purpose.

I am planning to take a Top Up loan on my existing Non Residential Property loan. Am I eligible to take this product?

Yes, this product is available on all Top-up loans to salaried customers.

Will my overdraft account exist even after closure of Home Loan or LAP or a Top Up loan?

Yes, the overdraft can be continued till the limit expiry period. Please note the mortgaged property documents will only be released after the closure of all linked loans.