Customers will get a message on the ATM screen after completing a
transaction, informing about their eligibility for personal loans. File
Photo | The Hindu
Using data from credit information companies, the lender will pre-qualify select customers for personal loans.
ICICI Bank has launched a facility whereby its existing salaried
customers can avail personal loans at ATMs. These customers can get
pre-qualified personal loans up to 15 lakhs in their savings account
instantly.
In a statement, the country's largest private sector bank by
consolidated assets, said the facility offers a bouquet of features -
swift application in simple steps, multiple eligible loan amount options
up to Rs.15 lakh based on pre-checked CIBIL scores and instant transfer
of the money to the customer’s account.
The facility also incorporates an additional level of authentication to
make the security of the offering robust. Through this offering, a
customer can get personal loans of upto Rs. 15 lakh for a fixed tenure
of 60 months.
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On completion of a transaction for balance enquiry or cash withdrawal,
customers will be shown the option of availing the loan (at ICICI Bank
ATM).
Customers can avail this loan at any ICICI Bank ATM in four steps --
select the required pre-approved loan offer; multiple amounts may be
shown depending on the customer’s eligibility; accept the auto populated
interest rate, processing fee and EMI (Equated Monthly Installment)
amount; confirm on the terms and conditions displayed. Lastly, enter
debit card PIN.
The statement said money will get transferred to the customer's account
instantly on completion of this procedure. Customers can also avail
personal loans from the Bank’s website, iMobile – its mobile banking
application as well as its branches.