India’s largest private lender, ICICI Bank launches introduce instant Credit cards for all the saving account customers in a completely digital and paperless manner. The typical process for availing Credit card is quite a long process where we have to apply, later credit history is analyzed, and the confirmation is received. After few days the actual physical card is delivered with following instructions about the limit and other terms and conditions.
To cut back the following steps, ICICI banks launch the instant Credit card facility which is not for every customer. This offer is only available for pre-selected customers who can directly apply for the card online, generate card details and start shopping instantly. The bank has opened the card with the limit up to Rs 4 Lakh based on pre-checked bureau scores.
The customers have to select from the collection of Credit cards and generate credit card immediately and use it instantly. The physical card can get within few working days. The application procedure is done with an additional level of authenticity to offer security. This facility to apply for Credit card in a flash is available through ICICI internet banking.
Anup Bagchi, Executive Director of ICICI Bank,” During these festival times, the consumer is ready to spend money, and the offer seems pretty timely for such consumers. They can not only generate the new credit card quickly but also start spending.”
The Steps to avail instant Credit card, the user has to first log on to internet banking first. If the customer is eligible, then generate instant credit card option appears. Then the details regarding the identification of the client are to be mentioned. They can choose from a collection of cards. After approving to certain terms and conditions, an OTP is received on the registered number. The customers need to generate it and use it immediately.
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ICICI Bank launched instant personal loans facility for its customers on Thursday. The new move from India’s largest private lender will introduce instant loan format for its customers. These ICICI Instant personal loans disburse personal loans right away for customers through ICICI ATMs. Also, this new ICICI personal loan service provides personal loans of up to Rs. 15 lakh for existing salaried customers.
As per the press release, these ICICI instant loans will be processed in a complete digital and paperless manner. Customers will be displayed an option to avail loan after the balance enquiry or cash withdrawal from ATM. Since ICICI bank always stands up for digital innovations, these loans through ATM will help customers with easy banking.
“ICICI Bank has been at the forefront of digital innovations since its inception. The offering of an instant personal loan at ATMs enables our customers to receive funds conveniently when they choose to opt for the loan,” says, Anup Bagchi, executive director, ICICI Bank.
“We believe that this compelling proposition of a completely paperless procedure and instant disbursal of funds through our ATMs offers a unique experience to our customers,” he added.
This ICICI instant loan at ATMs includes swift application process in simple steps. Multiple pre-approved loan amounts will be shown at ICICI ATM loans based on pre-checked CIBIL scores. After the next level authentication, funds will be transferred to account immediately.
“It also incorporates an additional level of authentication to make the security of the offering robust. Through this offering, a customer can get personal loans of up to Rs. 15 lakh for a fixed tenure of 60 months,” a statement noted.
People of India have successfully overcome the currency problems during the demonetization. But it seems like they will be facing new issues from 1st of April. Banks in the country are preparing to serve charges on the people of India. Major banks like SBI, ICICI, and HDFC have decided to charge their customers more from April.
According to the bank sources, the revised charges are meant only to encourage digital transactions and lessen the cash transactions. Reports say that banks have lost their income during the demonetization, so they are implementing such measures to get out of those loses.
Revised bank charges are categorized and listed below:
State Bank of India
SBI savings account users can deposit cash thrice a month in their accounts for free and the fourth deposit in the month would charge Rs 50 per cash load. The service charge would be extra for each of them.
Current account holders with Monthly Average Balance (MAB) of 10,000 can deposit up to 25000 cash at free of cost. Beyond the limit, 75 ps + service tax will be imposed.
Another rule is that all the State Bank of India account holders will also have to keep a minimum balance in their accounts.
For metropolitan cities, if the balance falls below 75 per cent of the prescribed minimum available balance of Rs 5,000 then Rs 100 plus service tax is charged. If the shortfall is 50 percent or less, the bank will charge Rs 50 plus service tax.
No charge up to three transactions from other bank ATMs, for the fourth transaction in a single month Rs 20 will be deducted. The transaction limit number within SBI ATM is five and sixth withdrawal in the month would be costing Rs 10
SMS alerts will be charged Rs 15 per quarter from debit card holders having an average quarterly balance of up to Rs 25,000 during the three months. There will be no charge for UPI/USSD transactions of up to Rs 1,000.
No charge would be levied on first four transactions at home branches in a single month. After that, every transaction would cost Rs 150.
Third party transfer is limited to Rs 50,000 per day.
A free transaction will be charge free per calendar month, and the next transactions would cost Rs 5 per Rs 1,000 thereafter subject to a minimum of Rs 150.
Cash deposit machines would accept first cash deposit per month at free of charge after that ICICI bank would deduct Rs 5 per Rs 1,000
Axis bank account holders can enjoy five Free deposits and withdrawals per month beyond that Rs 95 will be charged per each transaction.
The bank allows five free non-home branch transactions per day with, maximum deposit of Rs 50,000.
For the sixth transaction or deposit exceeding Rs 50,000, the Axis bank would charge Rs 2.50 per Rs 1,000, or Rs 95 per transaction, whichever is higher.
Demonetization a phase in the history of India had been successfully carried out by the government with the support of the people. Common people of India have faced many problems, but they bear it for the cause of good. As per the public opinion, these extra charges might receive massive opposing from all sections of people.
According to the latest reports Govt of India had asked all the Banks to reconsider the decision of levying the charges which would be a burden to the common people. We will update the latest happening around this issue. Stay tuned to this space for more updates
The leading bank in the Country, ICICI is looking to improve its customer care support and user experience. To achieve this, ICICI is teaming up with social media giant Twitter to develop a swing of digital customer car support features for themselves. If it goes well, millions of its clients get benefits along with a direct online response to their queries and feedback in real-time.
ICICI Bank is the first bank in the country to implement the new features to its Twitter account @ ICICIBank_Care for customer care.
Arvinder Gujral, Senior Director, Business Development, Asia Pacific, Twitter, in a statement, said, “We are collaborating with ICICI to improve the better user experience for the bank. With the latest customer care features, we hope the bank officials and as well as bank users will see great experience in their digital commitment and stronger customer relationships as a result.”
The ICICI bank has started the support indicator, which is the “message button” and set in deep links for moving a talk from public to private thereby allowing customers to provide feedback on a service interaction. The new features are available to businesses globally.
The Twitter said, “We are developing customer feedback support and user interface through our system partners. The customer support settings have been changed and introducing new support indicators and the message buttons on a new user support settings page on the Twitter Dashboard Website.”
Sujit Ganguli, Senior General Manager, ICICI Bank said, “This initiative is in line with our idea of ‘KhayaalAapka’ wherein we offer facilities that make banking a pleasing experience for our valued customers.”
India’s largest private sector bank ICICI has launched ‘Eazypay’ mobile app. The app enables professionals, merchants, and retailers to accept cashless payments instantly on mobile phones. The first of its kind ICICI Eazypay mobile app helps to get payments from customers through various digital modes.
ICICI Eazypay mobile app offers improved convenience of payment options to its customers. Customers can now pay through Unified Payment Interface (UPI), any credit or debit card or Internet banking. The app is currently available on Android operating systems now and will be rolled out on iOS platform soon.
The seller can raise an invoice in the ICICI Eazypay mobile app by just entering the amount and selecting the preferred mode of payment. But you need to have the buyer’s mobile number or Virtual Payment Address (VPA) for UPI-based payments.
After getting a notification SMS, the buyer can enter his/her details to pay through debit or credit card, or net banking, or pockets. To make use of UPI payments, a buyer can pay either by scanning a Quick Response (QR) code or directly through their VPA.
“I believe that this application will have broader usage base as it allows merchants to collect any amount digitally without any hassles of a daily or monthly limit on collection. Additionally, it can be used by up to 30 employees of a merchant simultaneously to collect payment on their mobile phones,” says, Chanda Kochhar, chief executive and managing director, ICICI India.
The ICICI Eazypay mobile app enables transferring the collected money directly to the current account of the professionals and merchants.
Download eazypay application on your Android handset with mobile number registered with your ICICI Bank current account
Click on register to complete the Eazypay registration process in the application. Registration happens immediately, where you choose your default ICICI Bank current account and create an MPIN login & create Virtual Payment Address (VPA) for UPI.
No need of providing any physical documents to register. Register immediately and start a collection from customers.
Contact your ICICI relationship manager or nearest ICICI Bank branch for any further clarification or issues.
How Eazypay app works?
Login to Eazypay and raise an invoice by entering the amount and selecting preferred payment mode.
For receiving payment through UPI:
Option to raise invoice through QR code or by entering VPA of your customer
In the case of QR code, a dynamic QR is displayed on your handset, and your customer can scan the same from his mobile phone to see the bill and accept it to make the payment.
In the case of VPA, your customer receives an alert on his UPI application and accepts it to make the payment.
For receiving payment through credit card, debit card or internet banking:
Select cards/net banking option and raise bill by simply entering bill amount & your customer’s mobile no
Your customer receives an SMS with a link
Your customer can click on the link and make payment through any bank’s credit card, debit card or internet banking
For receiving payment through Pockets:
Select Pockets option and raise bill by simply entering bill amount & Pocket mobile no of your customer
Your customer receives an SMS with passcode
Ask that passcode and enter it in your eazypay application
Your customer’s Pockets wallet gets debited, and the amount gets credited in your linked ICICI Bank current account.
In all the above modes, you can immediately check transaction status (success, failure, pending) in the ‘transaction history section. Your customer also receives a success confirmation on SMS immediately.
