Taking a personal loan is very complicated. Processing the loan application and its verification can be very time consuming and requires a lot of paperwork. Now you only need to visit an ATM counter for successfully process a loan. Country's private sector bank, ICICI Bank launched a facility for instant disbursal of personal loans through ATMs or automated teller machines.
Who can avail this?
This service enables existing salaried customers of the bank to get pre-qualified personal loans of up to Rs 15 lakh in their savings accounts instantly. You can avail loans in a completely digital and paperless manner,
Steps for availing loans through ATMs
On completion of a transaction for the balance enquiry or cash withdrawal, customers will be shown the option of availing the loan. Customers can avail this loan at any ICICI Bank ATM by following this steps:
The customer is required to complete the primary transaction at the ATM Channel:
Ultra-Fast Cash Withdrawal
A personal Loan pre-qualified offer message is shown to the customer with the maximum offer amount a customer is eligible for.
- Select the required pre-approved loan offer
- Click on Apply Now to proceed further
Next screen will show all eligible offers to the customer
The customer is required to select any of the 6 offers.
Accept the auto populated interest rate, processing fee and EMI (Equated Monthly Installment) amount
Confirm on the terms and conditions displayed
As a two-factor authentication to initiate the disbursement of loan, customers are asked to authenticate via their Debit Card PIN
Enter debit card PIN
After entering the PIN number, money gets transferred to the customer's account instantly. Customers can also avail personal loans from the Bank's website, iMobile - its mobile banking application as well as its branches.
The instant personal loan offer will be visible to customers during the first 3 completed transactions post-July 7, 2017. If no response is given the first 3 times, the offer will not be visible at the later stage. Additionally, once a customer clicks on ‘No' for availing the offer, or after availing the Instant Personal Loan through the ATM, the offer will not be shown.