ICICI Bank Home Overdraft

ICICI Bank Home Overdraft

Get quick access to funds against your Mortgage Loan.

Home Overdraft, an all-purpose* overdraft facility is a special offering for ICICI Bank salaried customers wherein you can avail of Loan Against Property (LAP) or Top-Up Loan in the form of an overdraft.

This overdraft facility gives you the flexibility to withdraw and use funds whenever required and pay interest only on the amount utilised.

*Overdraft facility not to be used for speculative or restricted purposes.

Prominent features

*You can open a new Savings Account with us to avail of the facility if you do not have an account with us.
Home Overdraft

Home Overdraft

The eligibility criteria for you to avail the ICICI Bank Home Overdraft depends on following factors:

 

Loan Amount Rs 5 lakh – Rs 1 crore
Loan type Overdraft facility with Loan Against Property & Top Up Loans
Eligible profiles Salaried
End use Business and Personal Utility

Frequently Asked Questions (FAQs) for ICICI Bank Home Overdraft

Will the Rate of Interest on the Home Overdraft be the same as Term Loan?


No, the overdraft amount utilised by the customer will be chargeable at the Rate of Interest applicable to the overdraft product.

How much loan amount is offered under Home Overdraft product?


Minimum of Rs 5 lakh and maximum of Rs 1 crore overdraft amount is offered under this product.

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


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

Note: Salaried customers*: Customers with ICICI Bank Salary Account or working with select corporates.

Can Home Overdraft account be closed any time or is there a lock-in period?


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

I wish to take loan against my property, can I avail of Home Overdraft?


Yes, this product is available to salaried customers* who wish to take a Loan Against Property (LAP), Top-Up, or Balance Transfer + Top-Up.

Note: Salaried Customer*: Customers with ICICI Bank Salary Account or working with select corporates.

Is there any fee for renewal of Home 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.

I have a Home Loan with other bank/financial institution? Can I transfer my loan to ICICI Bank and avail of Home Overdraft?


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

Note: Salaried Customer*: Customers with ICICI Bank Salary Account or working with select corporates.

Is there any restriction on usage of the Home Overdraft amount? Can it be used for buying purpose?


Yes, there is a restriction on the usage. The funds cannot be used for speculative or restricted purposes.

Can a customer avail of Home Overdraft facility if he/she has only salary relationship with the bank and no Home Loan?


A salaried customer needs to have a Home Loan or he/she can take a Loan Against Property (LAP) to avail of this facility.

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