In order to achieve the milestone of crossing Rs 1 lakh crore in mortgage loans, ICICI Bank, the country’s private sector lender has unveiled two new initiatives -- a fully online home loan approval in 8 working hours, and a mobile app for part disbursement of home loans for under construction projects. Under Express Home Loans, the customers can make their applications, upload KYC and income documents, and receive the final home loan approval anywhere at their convenience. This service is available for all salaried customers as well as non-ICICI Bank customers.
The second initiative helps individuals taking home loans for under construction projects to get subsequent disbursements (after the first disbursement) through the Bank’s ‘iLoans’ mobile application in a completely paperless way from the convenience of their home or office. All they need to do is download ‘iLoan’ app, scan and upload the demand letter from builder and proof of own contribution. Once uploaded, ICICI Bank assesses the demand and makes the disbursement.
ICICI Bank is India's largest private sector bank with consolidated total assets of $132.17 billion at March 31, 2015. The Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms.
