eCommerce giant Flipkart has partnered with ICICI Bank to instantly avail of overdraft by following a simple process that starts from filing applications to sanction and disbursement.
In a statement released by ICICI Bank, one of ten premier private banks in India, it will offer an instant and completely digital overdraft (OD) facility to avail upto ₹ 25 lakh to the individual Flipkart sellers and businesses registered on the platform. The leading private bank will act as a lender to Flipkart sellers for its initiative to support sellers through a process that starts from application and ends with disbursement.
If you're one of the Flipkart sellers trying to get an easy overdraft, you may reap several benefits as follows;
End-to-end Digital Processing: The registered sellers can easily apply for the OD instantly through Flipkart Seller Hub, completely digital and paperless.
Instant Evaluation: ICICI Bank, upon receiving an application, evaluates sellers instantly based on their Credit Bureau score and their transaction history by making the entire loan approval process easier and faster.
Immediate Sanction And Interest Benefit: The approved OD facility will be sanctioned and disbursed instantly, and the bank's interest is payable only on the amount of OD.
Auto-renewal Facility: The OD will be renewed annually, based on the repayment track records of the sellers.
Are you planning to apply for the instant overdraft facility from ICICI Bank? Following ate the easy ways to benefit from the advantage within a few clicks;
View Offer: Eligible sellers registered with Flipkart can view the offer's details on the Flipkart Seller Hub account portal.
Click on the Banner: Through the link, the sellers are redirected to ICICI bank's 'InstaOD' platform by clicking on the Flipkart Seller Hub portal.
Fill the Application Form: The sellers must log in, fill in the digital application form, and confirm the sanctioned amount. Upon successful confirmation, the desired or required amount is instantly transferred. If the seller has a current account with ICICI bank, the seller can immediately use the overdraft.
Account Opening for a New-to-bank Seller: Sellers new to ICICI Bank will be redirected for an instant opening of the current account and KYC validation.
Pavankumar Baboori is an experienced Sr. Content Analyst who improves the workflow by identifying and resolving the content development gap. He works closely with the marketing team to deploy strategies for improving brand awareness, website traffic, search engine ranking, and lead generation activities. He gauges up marketing channels for the real digital transformations.
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