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Understanding ICICI Financial Flexicash?
FlexiCash is actually an establishment agreed to ICICI Bank wages Account visitors, whereby they could take advantage of a line of credit/ overdraft facility to get to know unexpected or recurring expenditures. Truly built to secure ICICI financial earnings profile visitors from lacking their particular Equated regular Instalments (EMIs) or cheque bounces considering inadequate resources by providing short term quick credit score rating. Clients can quickly take advantage of this premises by starting her program on the internet.
Look at the pre-approved Insta Flexicash present. Apply Now
Best ways to get Overdraft against my personal Salary account through internet financial
FlexiCash try a premises offered to ICICI Bank earnings Account customers, wherein they can acquire a line of credit/ overdraft center to meet unplanned or recurring costs. It really is built to shield ICICI financial wage Account customers from missing their https://paydayloanservice.net/payday-loans-ct/ Equated regular Instalments (EMIs) or cheque bounces as a result of insufficient funds by giving short term instantaneous credit score rating. Clientele can acquire this premises by initiating their software on the internet.
Characteristics and importance
Costs and expenses
Running cost: Starting at Rs 1,999 + products or services taxation (GST)
Renewal charge: Flat Rs 1,999 + GST
ROI: Between 12percent and 14percent each year
As an example: when you have a FlexiCash maximum of Rs 1,00,000 with ROI of 12.20% and you utilize Rs 10,000 for an immediate costs, you will have Rs 90,000 remaining for other needs. Any time you payback Rs 10,000 after 15 days and then have not put any further of this FlexiCash resources, the interest payable are Rs 50.14.
Understanding FlexiCash?
ICICI financial clients are picked basis her financial partnership with our team, as well as more parameters, and supplied a pre-approved overdraft maximum to their Salary levels. This limitation tends to be used from wage membership to honour cheques/ EMI at ATMs and Point of purchase (POS).
How do you approach ICICI lender to take advantage of my pre-approved Insta FlexiCash provide?
You’ll go to ICICI lender websites financial or iMobile. Log in to, you can view your Insta FlexiCash give otherwise get today
How do I repay the FlexiCash?
Extent payable will likely be auto-swept as and when sufficient balance is available in their Pay accounts.
Carry out I have to shell out any additional charges for FlexiCash?
a control charge is actually levied in the overdraft limitation, foundation the defined prices matrix with the lender. A quantity add up to operating cost are because of in the first thirty days.
Which are the tenure choices for FlexiCash?
FlexiCash could be availed for a period of 12 months, blog post which the center should be auto restored whether or not it satisfies Finance companies norms, unless the customer gets closure demand.
Am I able to foreclose or prepay my FlexiCash?
Certainly, by clearing all exceptional fees and publishing a request any kind of time resource Servicing part of ICICI Bank.
Just how will the attention end up being calculated?
FlexiCash has a set interest rate that is determined on a daily decreasing balance. The interest are charged only regarding the quantity make use of therefore the duration that you can use it. Whenever there’s absolutely no usage of the resources, there won’t be any interest payable.
What are the documents needed to apply for FlexiCash by a non pre-approved customer?
KYC and money paperwork are required in the event you would not have an Insta FlexiCash give.
In the event the consumer works, we’re able to transfer resources via BACS their bank account within one lump sum, so they receive they in full, not in instalments. The audience is generally in a position to deliver funds within one hour of effective affirmation or sometimes a point of time.
The consumer has got the versatility to repay over 3 a few months. Addititionally there is the choice to repay very early. So, when you’re in an effective financial position and would like to save money on the attention, you may achieve this and remove your bank account early.