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ICICI Bank Home Overdraft is a one stop solution for all your funding requirements. It is a multipurpose* long tenure facility which gives you quick access to funds to manage your planned and unplanned expenses.
Introduction
ICICI Bank Home Overdraft is a one stop solution for all your funding requirements. It is a multipurpose* long tenure facility which gives you quick access to funds to manage your planned and unplanned expenses.
Overdraft facility can be taken against your residential, commercial or specialized properties. You can also take the facility as a top up on your existing Home Loan, Loan Against Property or a Loan against Rent Receivables and enjoy the flexibility of withdrawing funds as and when you need
It provides you a flexibility of utilizing the limit as per your requirement and thereby reduce your expenses by paying interest only on utilized amount
* Overdraft facility not to be used for speculative or restricted purposes
Combination of Term Loan and Overdraft in any proportion
Interest applicable only on utilised amount
Option of monthly or annual dropdown in limit
Reverse sweep facility
THE KEY PRODUCT NORMS FOR ICICI BANK HOME OVERDRAFT DEPENDS ON FOLLOWING FACTORS
| Loan type | Loan Against Property, Top Up Loan (including Top up on Balance Transfer of Loan), Lease Rental Discounting, Loan Against Land, Loan Against Specialized Property/Collateral Plus/ERTF |
|---|---|
| Eligible profiles | All |
| Applicable Entities | Proprietorship, Partnership, LLPs, Private Limited Companies, Listed Public Limited Companies, Closely Held Limited Companies, Trusts and Societies |
| End use | Business and Personal Utility |
*Note- Loan amount may vary depending upon the profile (Salaried/Self Employed) of a customer
