ICICI Bank launches ‘Maha Loan Dhamaka’


Mumbai: ICICI Bank today announced the launch of ‘Maha Loan Dhamaka’, an initiative to provide a bouquet of on-the-spot loan approvals and exclusive manufacturer-led offers including Hyundai Motors India Ltd. in semi-urban and rural locations, and at large corporate premises to individuals, including non-customers of the Bank. The Bank will host around 2000 such ‘Maha Loan’ camps across the country by end of March 2020.

Every camp will be a two-day affair where individuals can walk in with requisite documents and walk out with on-the-spot approval to finance their dream products. The Bank has kick-started the ‘Maha Loan Dhamaka’ today by inaugurating the first camp at Deesa at Banaskantha district in Gujarat.

The Bank provides a comprehensive bouquet of exciting offerings and special packages on two and four-wheelers, trucks, farming equipment, and tractors, personal loan, gold loan, and Kisan Credit Card at the ‘Maha Loan Dhamaka’. These ‘Maha Loan’ camps are one-stop shops for people from the surrounding towns/ villages to access the entire range of the Bank’s tailor-made products and services. In large corporate premises, the Bank offers instant approvals for loans—home, personal, two and four wheeler—and credit cards.

Speaking on the initiative, Mr. Anup Bagchi, Executive Director, ICICI Bank said, “We are delighted to launch the ‘Maha Loan Dhamaka’ with the objective of providing easy access to loans to people across the country. In this endeavour, we are taking our unique proposition of instant loans and on-the-spot-approvals to the doorstep of potential customers across the country in semi-urban and rural areas, as well as to salaried employees of corporates. We believe that we are offering an unparalleled experience of a unique combination of easy access to finance, exclusive deals on vehicles from manufacturers and an array of further benefits, including meeting the Bollywood superstar. We aim to undertake around 2000 such camps by end of March 2020.”

The ’Maha Loan’ camps put on display vehicles of reputed brands both at the rural locations as well as corporates.

Benefits on two-wheeler, truck and equipment loans:

  • Zero processing fee
  • Easy EMI
  • Instant loan up to 100% of on-road price of two-wheeler, up to 95% of the truck cost, up to 85% of the equipment vehicle cost

Benefits on auto, gold, personal and tractor loans:

  • Flat processing fee of Rs. 999 on an auto loan, Rs. 1499 on personal loans and Rs. 2000 on tractor loan (exclusive of taxes)
  • Special offers on select four-wheeler models from manufacturers including Hyundai Motors India Ltd.
  • One year subscription of Gaana.com and SONY LIV
  • 50% reduction on processing fees for gold loans above Rs. 2 lakh

Benefits on Kisan Credit Card:

  • 50% discount on processing fee and zero technical and legal verification charges
  • KCC overdraft facility for five years, subject to annual review

Other highlights:

On taking loan, customers can participate in a quiz through SMS. Top 100 winners of the quiz competition will get an opportunity to meet the Bank’s celebrity brand ambassador, Shah Rukh Khan

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