Insta FlexiCash – By ICICI Bank

Published on June 16, 2020
Current Context: ICICI Bank has launched an Insta FlexiCash facility to its salary account customers.
Insta FlexiCash – By ICICI Bank

  • The Insta FlexiCash is an online overdraft facility (OD) by which customers can get approval for OD instantly with a paperless manner.
  • The facility is launched to guard ICICI bank salary account customers against missing their Equated Monthly Installments (EMIs) or cheques bounces.
  • Features of Insta FlexiCash: (a) The customer can start using OD facility within 48 hours. (b)Credit limit worth up to 3 times their net salary is provided (c) The interest payment must be paid every month only on the actual OD amount utilised and can clear the outstanding limit at their convenience (d)No foreclosure charges are required while repaying OD amount. (e) Auto Sweep facility is also provided.
  • Static Part: 
    • HQ of ICICI Bank: Mumbai
    • MD and CEO of ICICI Bank: Sandeep Bakshi

Question: 

Q.1 Which private sector bank has launched Insta FlexiCash facility to its salary account customers?
a. HDFC Bank
b. Axis Bank
c. ICICI Bank
d. Kotak Mahindra Bank

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