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ICICI Bank to offer OD to sellers registered on Amazon

ICICI Bank has partnered with Amazon India to offer instant overdraft (OD) facility up to Rs 2.5 million to individual sellers and small businesses registered on the e-commerce company’s online marketplace

Leveraging advanced data analytics, ICICI Bank has developed this new facility. The new credit assessment method offers significant convenience to the sellers as it does away with the paper-intensive bank statements or income tax returns for assessing credit worthiness. Further, it empowers small businesses and individual sellers, who are new to credit, as well as the existing MSME borrowers, to unlock the value of their digital transactions and get access to instant credit. Customers of other banks can avail the OD by simply opening a current account with the bank digitally, if they are registered as sellers with

Pankaj Gadgil, Head, Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank said, “We have specially curated a new way of assessing credit worthiness of the sellers on the basis of their credit bureau score as well as their transaction history on This new and improved process will help the sellers, who may otherwise not get access to adequate credit when assessed in the traditional way of using only balance sheets, bank statements and tax returns.”

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