ICICI Bank is one of the top private-sector banks in the country. IDFC Bank offers discount, retail, business, and NRI banking services. Customers using ICICI Bank’s services can increase the size of their investment portfolio and protect themselves from uncertainties in life. Everything, including various cards and ICICI loans, is covered by guaranteed assistance.
ICICI Bank, formerly the Industrial Credit and Investment Corporation of India, is a significant player in India’s private banking industry. Since its inception in 1994, it has become one of the country’s largest and most important financial organizations.
ICICI Bank provides various financial services and products, including asset management, insurance, corporate and investment banking, retail banking, and investment banking. It is a flexible and reliable financial institution as customers can access services, including current and savings accounts, loans, credit cards, wealth management, and digital banking solutions. Also, check the Bank of Baroda Personal Loan.
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Benefits and Features of ICICI Bank
ICICI Bank is one of the most popular banks in India, offering a wide range of services. Here are some of its key benefits and features:
- Fast processing: ICICI Bank ensures quick turnaround time for loans, usually 7-10 working days.
- Quick Loans: ICICI Bank offers faster loan approvals, making it easier for customers to get funds when needed.
- Support for Small Businesses: ICICI Bank supports small businesses and entrepreneurs, helping them grow with customized financial services.
- Competitive Loan Rates: The bank offers competitive interest rates, ensuring customers do not pay exorbitant amounts.
- Comprehensive financial support: ICICI Bank caters to a wide range of financial needs, providing solutions for all types of customers.
- International Banking: ICICI Bank offers global banking services that assist customers in conducting financial transactions in India and many other countries.
- Insurance Services: The bank offers various insurance products to protect individuals and their assets.
Products and Services Offered by ICICI Bank
Deposit Accounts
- Savings Account: ICICI Bank offers nine types of savings accounts. These accounts provide safe storage for money and earn interest on deposits.
- Current Account: Tailored for small and medium-sized businesses or self-employed individuals, ICICI Bank provides several accounts for managing business finances.
Loans
Here are some types of loans offered by ICICI Bank.
| Home Loan | ICICI Bank provides financial assistance to help people buy homes with flexible repayment options through small monthly installments. |
| Personal Loan | Offers loans for various personal needs, such as education fees or individual purchases, with repayment terms of up to 7 years. |
| Two-wheeler Loan | ICICI Bank funds the majority of the amount required for purchasing a bike, allowing for minimal upfront payment. |
| Car Loan | Provides loans to purchase cars, offering competitive deals in collaboration with car manufacturers. |
| Gold Loan | Allows customers to borrow money by pledging gold as collateral, with an easy and quick loan application process. |
| Education Loan | Lends money for educational purposes, either in India or abroad, to support higher education expenses. |
| Commercial Business Loan | Offers financial support for business ventures or for acquiring commercial vehicles. |
| Pradhan Mantri Mudra Yojana | Provides small businesses with loans without requiring collateral, supporting entrepreneurs and small enterprises. |
Investments
Investors can put their money in various safe and growing investment options through ICICI Bank.
- Recurring Deposit (RD): For six to ten years, you can set aside monthly money using ICICI Bank’s unique “Recurring Deposit” savings option. It’s like a bank for long-term savings. And you know what? If you need it, you can use your recurring deposit to borrow money from the bank, and you have to pay it back with interest later.
- Fixed Deposit (FD): “ICICI Bank Fixed Deposit” is another excellent way to save money. Just Rs.1000 is needed to start saving! The bank will gradually put more money in your account, just like you keep your money in a safe. Additionally, if you need cash right now, you can use your fixed deposit as collateral to get a loan from the bank. Beneficial. Check out the Bank of India.
Banking Service
Mobile Banking | You can perform various banking activities online, such as creating fixed deposits, purchasing insurance, paying bills, and more. |
| Net Banking | Perform various banking activities online, such as creating fixed deposits, purchasing insurance, paying bills, and more. |
| Checking Your Balance | Multiple ways to check your account balance, including missed call alerts, SMS banking, ATMs, passbook updates, or visiting a branch. |
| Customer Care | A dedicated helpline is available for inquiries and assistance regarding ICICI Bank’s products and services, ensuring customer support. |
Cards
ICICI Bank customers have the option of using the card for cashless transactions.
- Debit Cards: ICICI Bank offers a variety of debit card options to its customers. You can choose one depending on how much money you need every day. You can also benefit from these cards, such as vacations, fun, internet shopping, maintaining good health, and much more!
- Credit Cards: You can get unique credit cards from ICICI Bank. They offer a variety of great products for all kinds of people. These can be used for shopping, entertainment, fine dining, and other great activities. Additionally, doing so will earn you discounts and points for even more fun! Must Read Axis Bank Business Loan.
Loans offered by ICICI Bank
| ICICI Bank Loans | Features |
ICICI Bank Home Loan | Interest Rate: 8.85% – 9.1% Loan Amount/Tenure: ₹3L – ₹75L Tenure (5 – 30 Years) Processing Fee: The processing fee is 0.50% of the loan amount, plus applicable taxes |
ICICI Bank Business Loan | Interest Rate: 12.5% – 16% Loan Amount/Tenure: ₹1L – ₹40L Tenure (1 – 7 Years) Processing Fee: Up to 2% (plus applicable taxes) of the facility amount |
ICICI Bank Personal Loan | Interest Rate: 10.85% – 12.5%Loan Amount/Tenure: ₹10L – ₹5Cr Tenure (Up to 15 Years) Processing Fee: Up to 1% of the loan amount |
ICICI Bank Loan Against Property | Interest Rate: 10.85% – 12.5%Loan Amount/Tenure: ₹10L – ₹5Cr Tenure (Up to 15 Years) Processing Fee: Up to 1% of the loan amount |
