How Do I Apply For Overdraft Against My Salary Account Through Net Banking
Overdraft against Salary Account (Insta FlexiCash) is offered only to select customers of ICICI Bank.
- Click here to check the offer
- Log in using your Debit Card or Net Banking user ID
- If you are eligible for the offer, you will be redirected to the offer page to avail Insta FlexiCash
OD Against Salary - Features & Benefits
|Pay only for what you use||Pay interest on the amount you use and for the period you use it for|
|Flexible Repayment||Flexibility to clear the outstanding limit at your convenience, only the interest due to be paid every month|
|Digital process for pre-approved customers||Avail of facility instantly by applying online with no documentation|
|Auto sweep-in facility||Reduced interest burden due to the auto sweep facility from the Salary Account to the overdraft account|
|Auto Renewal||Automated process of renewal of overdraft limit|
|Pre-closure facility||Repay the amount whenever you want without any pre-closure charges|
Overdraft Against Salary - Fees and Charges
Processing fee starting from Rs 1,999 + GST up to maximum Rs 2,999 + GST
Annual renewal fee of Rs 1,999 + GST
Late payment fee of Rs 500 + GST (if applicable)
Rate of interest between 12% p.a. to 14.1% p.a.
For example: If you have a FlexiCash limit of Rs 1,00,000 with an interest rate of 12.5% p.a. and you utilise Rs 10,000 for 15 days, you would be charged interest of Rs 51.37 (Rs10,000 * 15/365 * 12.5%)
Mean interest rate** for Q2’FY24 = 13.65%
**This is average interest rate charged to the accounts opened in the mentioned quarter and is dependent on customer category.
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