Bank Overdraft Loan

An Overdraft is a flexible form of borrowing that allows businesses to withdraw funds from their Current Account up to a pre-approved limit. Interest is only charged on the amount overdrawn for the period of borrowing, making it a cost-effective way to manage short-term cash flow. Customers can also deposit funds into the account to reduce the outstanding balance or withdraw more as needed providing further flexibility. Interest is calculated daily on the fluctuating balance and typically charged at the end of the month.

The maximum limit sanctioned depends on the banking transactions and account conduct assessed by ICICI Bank over a period of 12 months. Existing customers can avail up to Rs 50 lakh and new to bank customers can avail up to Rs 25 lakh.

The maximum limit sanctioned depends on the banking transactions and account conduct assessed by ICICI Bank over a period of 12 months. Existing customers can avail up to Rs 50 lakh and new to bank customers can avail up to Rs 25 lakh.

For customers having pre-approved offers, no documents are required.For new to bank customers, bank statement would be required for assessing the banking transactions. No additional physical documentation is required. For partnerships and companies, other documents such as Memorandum of Association or Board Resolution may be required.

The tenure of the OD facility is for 12 months from the date of limit setup and is renewed at the end of the 12-month period at the discretion of ICICI Bank. ICICI Bank shall intimate eligible customers prior to expiry of the Overdraft limits, giving the customer an option to extend the facility for a further period of 12 months. A non-refundable renewal processing fee of 2% of the OD amount, excluding applicable taxes will be levied.

There is no foreclosure or pre-payment charges applicable on instant Overdraft and there are no commitment charges on limit utilisation.

You can visit your nearest ICICI Bank Branch or call 1800 1080 (from 09:30 a.m. to 06:00 p.m.). 

• Log in to InstaBIZ or Corporate Internet Banking and click on the banner in the ‘Offer section’ to check for Instant Overdraft facility
• You will then be redirected to a pre-populated InstaOD application form if you have an offer from the Bank that you can verify and submit
• After completing the two-step approval process, you can immediately access the Overdraft facility in your Current Account
• You can provide bank statement to check the eligibility of InstaOD in case you don’t have an offer from the Bank.

A customer can also apply using the link - https://clos.icicibank.com/CAOOD/Apply.jsp

Processing fees applicable will be 2% of the Overdraft amount, excluding applicable taxes and will be non-refundable.

• Click on the banner on Corporate Internet Banking & log in
• Click on the banner on the InstaBIZ app & log in
• ICICI Bank website → Business → Business Loans → InstaOD

Individuals, Proprietors, Partnerships, Private Limited Companies and Public Limited Companies.

InstaOD platform is compatible with Chrome, Internet Explorer, Firefox and Safari. It is recommended that you clear all cookies and cached files and enable pop-ups as the application will open in a new browser window after clicking the InstaOD offer banner.

InstaOD is an unsecured Overdraft facility and thus, there is no collateral requirement.

Sanction amount ranges from Rs 50,000 to Rs 25 lakh. 

The Overdraft digital platform is responsive to web-based systems & is accessible across devices.