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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.
The
scheme does not apply to brokers or small and medium-sized
enterprises or the self-employed.
However,
these individuals can independently apply to the bank
 for
loans for which they would need to submit a copy of their
income-tax returns, and the bank's statement of accounts.
List of reports
on Global Trust Bank
List of general reports
on banks
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