Insta Overdraft

A Bank Overdraft allows businesses to withdraw funds beyond their account balance up to a sanctioned limit. Interest is charged only on the amount used.

Interest is charged only on the utilised amount. The annual percentage depends on your banking profile.

Existing ICICI Bank customers can get up to Rs 50 lakh. New to bank customers can get up to Rs 25 lakh.

For pre approved customers, no documents are required. Others need to provide their bank statement. Partnerships and companies may need MOA or Board Resolution.

The tenure is 12 months. It can be renewed based on eligibility with a renewal processing fee of 2% plus taxes.

There are no pre payment or foreclosure charges on InstaOD.

Sanction depends on account usage and transactional history over the last 12 months.

You can visit any ICICI Bank branch or call Customer Care on 1800 1080.

Individuals, proprietors, partnerships, private limited companies and public limited companies can apply.