ICICI Bank Ltd.

ICICI Bank, the country’s largest private sector lender will be selling personal loans of up to Rs 15 lakh through its ATMs that can be availed of by select salaried customers even if they haven’t previously applied for one.

The lender will pre-qualify select customers for personal loans using data from credit information companies. Such customers will get a message on the ATM screen after completing a transaction, informing about their eligibility for personal loans.

A customer is given multiple amounts to choose from and will be informed about other crucial details like the interest rate, processing fee and monthly installments, before the transaction is completed by crediting the loan amount into their account.