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What exactly is ICICI Bank Flexicash?
FlexiCash was an establishment accessible to ICICI Bank earnings accounts people, whereby they are able to take advantage of a line of credit/ overdraft facility to meet unexpected or recurring expenditures. It’s designed to shield ICICI lender Pay profile people from lost their own Equated regular Instalments (EMIs) or cheque bounces as a result of inadequate funds by providing temporary instant credit score rating. People can acquire this establishment by starting her program online.
Check your pre-approved Insta Flexicash give. Apply Today
How can I sign up for Overdraft against my wages account through internet Banking
FlexiCash try a center accessible to ICICI lender income accounts customers, where they could acquire a type of credit/ overdraft establishment to generally meet unexpected or recurring expenses. Its made to protect ICICI financial Pay profile clientele from lacking their particular Equated regular Instalments (EMIs) or cheque bounces considering inadequate resources by providing brief immediate credit score rating. Customers can quickly take advantage of this facility by initiating her application on the internet.
Properties and pros
Fees and costs
Control cost: Starting at Rs 1,999 + Goods and Services taxation (GST)
Renewal cost: Flat Rs 1,999 + GST
ROI: Between 12% and 14per cent annually
For Example: when you have a FlexiCash restriction of Rs 1,00,000 with ROI of 12.20% therefore make use of Rs 10,000 for an urgent expenses, you will have Rs 90,000 kept for any other purposes. In the event that you payback Rs 10,000 after 15 times and have perhaps not put any further of this FlexiCash resources, your interest payable can be Rs 50.14.
Understanding FlexiCash?
ICICI financial customers are picked basis their own banking connection with our team, as well as more parameters, and granted a pre-approved overdraft limit on the Salary Account. This restriction is generally utilised from wage accounts to honour cheques/ EMI at ATMs and aim of purchase (POS).
How can I address ICICI financial to acquire my pre-approved Insta FlexiCash provide?
You might go to ICICI financial websites Banking or iMobile. Log on to, you can view the Insta FlexiCash present otherwise get today
How do you repay the FlexiCash?
The amount payable are auto-swept when adequate balances comes in their wage membership.
Carry out i need to pay any additional costs for FlexiCash?
a running charge try levied regarding overdraft restriction, basis the defined prices matrix accompanied by the lender. An amount comparable to handling charge would be because of in the first thirty days.
What are the tenure options for FlexiCash?
FlexiCash can be availed for a period of one year, blog post which the premises should be automobile renewed whether it satisfies Financial institutions norms, unless the consumer offers closure request.
Can I foreclose or prepay my FlexiCash?
Yes, by cleaning all exceptional dues and submitting a request at any investment Servicing department of ICICI financial.
Just how will the interest be determined?
FlexiCash comes with a fixed interest that is computed on an everyday minimizing stability. The interest is billed merely throughout the levels make use of plus the course for which you utilize it. In case there is absolutely no using the resources, there will be no interest payable.
Do you know the papers necessary to apply for FlexiCash by a non pre-approved consumer?
KYC and income documentation will be required just in case you don’t have an Insta FlexiCash present.
In the event the consumer is successful, https://cashlandloans.net/payday-loans-ct/ we can move resources via BACS with their banking account in a single lump sum payment, so they really get they entirely, not in instalments. The audience is typically able to send resources within an hour of profitable affirmation or often an issue of several hours.
The customer comes with the flexibility to repay over 3 a few months. There is the possibility to repay very early. Thus, when you’re in good budget and wish to save money on the attention, you could achieve this and clear your account very early.
