ICICI Bank special loan scheme for GTB customers

Our Banking Bureau
28 July 2004

Mumbai: ICICI Bank has introduced a pre-approved personal loan product for Global Trust Bank (GTB) customers.

Salaried individuals can borrow up to five times their net monthly salary at an interest rate of 14 per cent. This is as opposed to the normal level of 18-19 per cent on personal loans.

Customers need only bring their salary statement and proof of holding a bank account with GTB.

With this, an individual earning a net salary of Rs 10,000 can avail of a loan of up to Rs 50,000.

Those opting for this personal loan product need not pay the equated monthly installment for two months.

These loans would be processed without any major due diligence, processing fee or other accompanying documents. Individuals can avail of up to a maximum of Rs 1 lakh. Above this amount some due diligence will be undertaken by the bank.