Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

ICICI Bank Offers up to Rs 15 Lakh Instant Personal Loan via ATMs

The select salaried persons will be pre-qualified and selected based on data from credit information companies.

News18 Specials

Updated:July 26, 2017, 8:27 AM IST
facebookTwitterskypewhatsapp
ICICI Bank, Internet Banking Platform, DigiLocker
Representative Image. (Reuters)

In an industry saddled by bad loans and poor credit growth, ICICI Bank last week announced to offer Rs 15 Lakhs Instant Personal Loan via ATMs. The largest private lender of India introduced this new policy of selling personal loans through its ATMs and stunned many. However, to keep itself in a safe space, these personal loans will be limited to the amount of ₹15 lakhs and also available only to select salaried persons.

The select salaried persons will be pre-qualified and selected based on data from credit information companies. When such customers complete a transaction on the ATM, a message stating their eligibility for personal loans will be displayed on the screen.

If such a person opts for such a loan, the person can avail a 5 Years Personal Loan of Rs 15 Lakhs and such loan amount will be credited right into the person’s account. A customer is given multiple amounts to choose from and will be given critical information like the interest rate, processing fee and monthly installments before the transaction is completed by crediting the loan amount into his/her account.

Another noteworthy point here is that these Instant Personal loans are available to even those selected persons who have not applied for a personal loan. The aim behind these Instant Personal Loans via ATMs is to truly offer a paperless, convenient and quick dispersal of Personal Loan.

ICICI Bank Executive Director Anup Bagchi said, “We trust this is a convincing recommendation as it is a totally paperless methodology and moment disbursal of assets through the ATM”.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Swati Sharma
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results