ICICI Bank, India’s largest private sector bank by consolidated assets, has launched a credit facility against home loans for salaried customers. Christened ‘ICICI Bank Home Overdraft’, this offering helps a salaried customer to seek loans up to Rs 1 crore for personal needs against his/her property. This innovative offering provides customers with the dual advantage of a term loan and an overdraft facility.
While the term loan provides customers with quick funds for immediate needs, the overdraft facility offers them the flexibility to access funds instantly for expenses, as and when required. They can use the funds for an array of personal requirements including education, medical treatment, home renovation, marriage and overseas travel among others.
ICICI Bank is India’s largest private sector bank with consolidated total assets of $139.14 billion at June 30, 2016. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies, securities brokerage firms, mutual funds and private equity firms. Its presence currently spans 17 countries, including India.
