BANK OVERDRAFT LOAN
InstaOD Plus is an unsecured Overdraft (OD) facility that can be availed online without any paperwork. The facility serves day-to-day needs as well as sudden exigencies, for business.
- Existing ICICI Bank Current Account customers can avail an instant Overdraft limit of up to Rs 50 lakh
- Non ICICI Bank Current Account customers can avail an instant Overdraft limit of up to Rs 25 lakh
Major Features
- Collateral free Business Banking loan
- Interest to be paid on utilized amount
- Instant Sanction
- Paperless processing
- No Prepayment / Foreclosure / minimum commitment charges
Eligibility Criteria for Overdraft facility
Business Type:
-
Individuals
-
Proprietor
-
Others
Additionally, For non ICICI Bank Customers:
-
Business Vintage
2 Years -
Account Statment/GST Returns
1 Year -
Credit Score(*T&Cs Apply)
> 725*
Overdraft Documentation
- For institutions such as Partnerships and Companies, other documents such as Memorandum of Association and Board Resolution may be required.
- For new to bank customers, bank statement would be required for assessing the banking transactions.