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Insta FlexiCash/ Salary OD

FlexiCash offers ICICI Bank Salary Account holders an Overdraft facility for covering unexpectedexpenses with ease. The OD Account is linked to your Salary Account, to ensure seamlessrepayments. The interest rates are low and charged only on the amount and period you use it for.

 

 

APPLY FOR FLEXICASH

FlexiCash: Your Questions Answered

What are the restrictions imposed on using the Overdraft funds?

According to the RBI guidelines and ICICI Bank’s policy, Overdraft funds must only be used for theirintended purpose. They are not allowed to be used for prohibited activities such as investing in realestate, gambling, digital currency or repaying other credit facilities. Violation of these rules mayresult in the Account being freeze marked or closed.

What is the FlexiCash facility?

The FlexiCash facility is an Overdraft service extended to selected ICICI Bank customers based ontheir banking relationship and other criteria. This service allows customers to use a Pre-approvedlimit from their Salary Accounts to issue cheques, pay EMIs and carry out transactions at ATMs andPOS terminals.

How is the repayment process for FlexiCash managed?

Repayment is seamless. The owed amount is automatically deducted from the Salary Account whena sufficient balance is available.

Are there any fees associated with FlexiCash?

Yes, according to the Bank's pricing structure, a Processing Fee is charged on the Overdraft limit. Thisfee is due in the first month of using the facility.

What are the FlexiCash tenure options?

The FlexiCash facility can be used for up to 12 months, after which it will be auto-renewed if it meetsthe Bank’s criteria unless you request closure.

Can I pay off my FlexiCash early or close the facility before the term ends?

Yes, with FlexiCash, you can request closure by submitting a closure application after paying theoutstanding dues. You can submit a request at any ICICI Bank Loan Servicing Branch.

What documentation is needed for customers who do not have a Pre

Customers who do not have a Pre-approved FlexiCash offer need to provide KYC and incomedocuments to apply for the facility.

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