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.
Steps to avail ICICI instant loans through ATMs:
- Multiple pre-approved loan amounts will be displayed depending on the customer’s eligibility.
- Select the required loan offer and confirm the auto populated interest rate, processing fee, and EMI amount
- Accept the terms and conditions displayed
- Enter debit card PIN
The money gets transferred to the customer’s account instantly on completion of the process.