ICICI Bank launches ‘Maha Loan Dhamaka'

November 15, 2019




  • The Bank to organise 2000 ‘Maha Loan’ camps across the country by this financial year
  • These camps will take place in rural & semi urban locations as well as at company premises
  • The Bank to approve a variety of loans on the spot; it also offers loans instantaneously
  • Top 100 winners of a quiz competition meet the Bank’s brand ambassador Shah Rukh Khan

Mumbai: ICICI Bank today announced the launch of ‘Maha Loan Dhamaka’, an initiative to provide a bouquet of on-the-spot loan approvals and exclusive manufacturer-led offers including Hyundai Motors India Ltd. in semi urban and rural locations, and at large corporate premises to individuals, including non-customers of the Bank. The Bank will host around 2000 such ‘Maha Loan’ camps across the country by end of March 2020.

 

Every camp will be a two-day affair where individuals can walk in with requisite documents and walk out with on-the-spot approval to finance their dream products. The Bank has kickstarted the ‘Maha Loan Dhamaka’ today by inaugurating the first camp at Deesa at Banaskantha district in Gujarat.

 

The Bank provides a comprehensive bouquet of exciting offerings and special packages on two and four wheelers, trucks, farming equipment and tractors, personal loan, gold loan and Kisan Credit Card at the ‘Maha Loan Dhamaka’. These ‘Maha Loan’ camps are one-stop shops for people from the surrounding towns/ villages to access the entire range of the Bank’s tailormade products and services. In large corporate premises, the Bank offers instant approvals for loans---home, personal, two and four wheeler—and credit cards.

 

Speaking on the initiative, Mr. Anup Bagchi, Executive Director, ICICI Bank said, “We are delighted to launch the ‘Maha Loan Dhamaka’ with the objective of providing easy access to loans to people across the country. In this endeavour, we are taking our unique proposition of instant loans and on-the-spot-approvals to the doorstep of potential customers across the country in semi-urban and rural areas, as well as to salaried employees of corporates. We believe that we are offering an unparalleled experience of a unique combination of easy access to finance, exclusive deals on vehicles from manufacturers and an array of further benefits, including meeting the Bollywood superstar. We aim to undertake around 2000 such camps by end of March 2020.” 

 

The ’Maha Loan’ camps put on display vehicles of reputed brands both at the rural locations as well as corporates.

 

Key highlights of the offers at the ‘Maha Loan Dhamaka’: 

 

Benefits on two-wheeler, truck and equipment loans: 

  • Zero processing fee
  • Easy EMI
  • Instant loan up to 100% of on-road price of two-wheeler, up to 95% of the truck cost, up to 85% of the equipment vehicle cost

Benefits on auto, gold, personal and tractor loans:

  • Flat processing fee of Rs. 999 on auto loan, Rs. 1499 on personal loans and Rs. 2000 on tractor loan (exclusive of taxes)
  • Special offers on select four-wheeler models from manufacturers including Hyundai Motors India Ltd.
  • One year subscription of Gaana.com and SONY LIV
  • 50% reduction on processing fees for gold loans above Rs. 2 lakh

Benefits on Kisan Credit Card:

  • 50% discount on processing fee and zero technical and legal verification charges
  • KCC overdraft facility for five years, subject to annual review

Other highlight:

  • On taking loan, customers can participate in an quiz through SMS. Top 100 winners of the quiz competition will get an opportunity to meet the Bank’s celebrity brand ambassador, Shah Rukh Khan

Terms and conditions apply on all offers.

 

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

 

For media queries, write to: corporate.communications@icicibank.com

 

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at ₹12,88,190 crore at September 30, 2019. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.

 

Certain statements in this release relating to a future period of time (including inter alia concerning our future business plans or growth prospect s) are forward - looking statements intended to qualify for the 'safe harbor' under applicable securities l aws including the US Private Securities Litigation Reform Act of 1995. Such forward - looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. These risks and uncertainties include, but are not limited to statutory and regulatory changes, international economic and business conditions; political or economic instability in the jurisdictions where we have operations, increase in non - performing loans, unanticipated changes in interest rates, foreign exchange rates, equity prices or other rates or prices, our growth and expansion in business, the adequacy of our allowance for credit losses, the actual growth in demand for banking products and services, i nvestment income, cash flow projections, our exposure to market risks, changes in India’s sovereign rating, as well as other risks detailed in the reports fi led by us with the United States Securities and Exchange Commission. Any forward looking statement s contained herein are based on assumptions that we believe to be reasonable as of the date of this release. ICICI Bank undertakes no obligation to update forward - looking statements to reflect events or circumstances after the date thereof. Additional ri sks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov



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