ICICI Bank has launched a credit facility against home loans for salaried customers. Called ‘ICICI Bank Home Overdraft’, this offering helps a salaried customer to seek loans up to Rs 1 crore for personal needs against his/her property. It also provides customers with the dual advantage of a term loan and an overdraft facility. While the term loan provides customers with quick funds for immediate needs, the overdraft facility offers them the flexibility to access funds instantly for expenses, as and when required. They can use the funds for an array of personal requirements including education, medical treatment, home renovation, marriage and overseas travel among others. Anup Saha, senior general manager & head- Retail Secured Assets of the bank said ‘ICICI Bank Home Overdraft’ aims to provide the salaried customers the flexibility of quick access to funds against their home property. This proposition will add more value to the customers by helping them cater to their personal needs, he said, adding, going forward, the bank aims to introduce more such innovative solutions that provide more convenience and flexibility to the customers and help them fulfill their aspirations.
