ICICI Bank introduces Insta Flexi Cash

Correspondent

KOLKATA, June 16 2020 (HS): India's leading private sector Bank ICICI Bank Tuesday launched  a unique new facility that enables its Salary Account customers to get approval for overdraft instantaneously and in a paperless manner. Called, ‘Insta Flexicash’, the end-to-end fully digital facility can be availed using the Bank’s internet banking platform.

The facility comes handy for lakhs of ICICI's pre-approved customers who can now apply for the OD from the comfort of their home without visiting a bank branch; top ICICI Bank sources informed. 

The facility could be sanctioned immediately while customers can start using the approved OD limit within 48 hours, sources said adding the interest payable on the OD would be calculated on the basis of actual amount availed by the customer and not on the full amount of the OD sanctioned.