ICICI Bank Introduces ‘Insta FlexiCash’

By 121 News

Chandigarh, June 15, 2020: ICICI Bank today announced the launch of a facility, that enables its Salary Account customers to get approval for overdraft (OD) instantaneously and in a paperless manner. Called, 'Insta Flexicash', the end-to-end fully digital facility can be availed using the Bank's internet banking platform.

The facility comes handy to lakhs of the Bank's pre-approved customers who can apply for the OD from the comfort of their home, without visiting a bank branch. The facility can be sanctioned immediately while customers can start using the approved OD limit within 48 hours.  The interest payable on the OD is calculated on the basis of the actual amount availed by the customer, not on the full amount of the OD sanctioned.

Talking about the initiative, Sudipta Roy, Head- Unsecured Assets, ICICI Bank said that we at ICICI Bank have always believed in tailoring our products and services in a way that offers maximum convenience to our customers. In the recent years, we have leveraged upon data analytics and technology to introduce a slew of retail products that can be availed instantaneously. This new facility, 'Insta FlexiCash', is an extension of this endeavor. During the testing times of the Corona virus pandemic, we feel that this new facility will help our salaried customers tide over their need for liquidity for various expenditures in a hassle-free manner.