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What’s ICICI Lender Flexicash?
FlexiCash try a facility wanted to ICICI lender wages levels consumers, where they may be able take advantage of a type of credit/ overdraft facility in order to satisfy unplanned or repeated spending. It really is built to shield ICICI financial wages accounts users from lost their unique Equated Monthly Instalments (EMIs) or cheque bounces considering insufficient funds by providing short term instantaneous credit score rating. Clientele can very quickly acquire this center by starting their particular application on line.
Look at your pre-approved Insta Flexicash present. Apply Today
Best ways to make an application for Overdraft against my personal wages accounts through web financial
FlexiCash try a facility provided to ICICI lender Salary membership subscribers, wherein they are able to avail of a line of credit/ overdraft center to get to know unplanned or recurring expenditures. Really designed to shield ICICI lender wages profile people from missing out on their own Equated regular Instalments (EMIs) or cheque bounces considering inadequate resources by giving brief quick credit. People can avail of this establishment by initiating her program on the web.
Properties and positive
Fees and fees
Operating fee: beginning at Rs 1,999 + products or services taxation (GST)
Renewal cost: apartment Rs 1,999 + GST
ROI: Between 12per cent and 14% per year
Like: when you yourself have a FlexiCash restriction of Rs 1,00,000 with ROI of 12.20% and you also need Rs 10,000 for an urgent expense, you should have Rs 90,000 left for other reasons. If you payback Rs 10,000 after 15 time and then have maybe not utilized more for the FlexiCash funds, their interest payable is going to be Rs 50.14.
What is FlexiCash?
ICICI lender customers are selected basis their banking union around, besides more variables, and provided a pre-approved overdraft limitation on their wages accounts. This limit could be used from earnings Account to honour cheques/ EMI at ATMs and Point of deal (POS).
How do I means ICICI lender to take advantage of my personal pre-approved Insta FlexiCash offer?
You could visit ICICI Bank Internet financial or iMobile. Get on, you will see your Insta FlexiCash give otherwise Avail Now
How can I pay the FlexiCash?
The quantity payable is auto-swept whenever enough stability will come in your wage levels.
Perform i need to pay any extra prices for FlexiCash?
a control charge are levied in the overdraft restriction, basis the defined cost matrix accompanied by the Bank. A quantity corresponding to control fee can be due in the 1st thirty days.
Do you know the tenure choices for FlexiCash?
FlexiCash could be availed for a period of one year, article which the establishment might be auto restored if it satisfy Finance companies norms, unless the client gets closure request.
Is it possible to foreclose or prepay my personal FlexiCash?
Indeed, by clearing all outstanding fees and submitting a request any kind of time advantage Servicing department of ICICI lender.
Just how will the interest getting determined?
FlexiCash has a fixed interest that’s computed on an everyday reducing balance. The attention are charged merely throughout the levels you utilize plus the period that you can use it. Whenever there’s absolutely no usage of the resources, there will be no interest payable.
Do you know the papers needed to sign up for FlexiCash by a non pre-approved buyer?
KYC and earnings documents will be required in the event you don’t have an Insta FlexiCash offer.
When the client is successful, we are able to convert funds via BACS their bank-account within one lump sum payment, so they really obtain they completely, not in instalments. We have been generally able to submit resources within one hour of profitable acceptance or often an issue of hours.
The client gets the flexibility to settle over 3 six months. There’s also the possibility to settle very early. So, if you find yourself in a financial position and wish to save money on the interest, you might achieve this and clean your account very early.