ICICI Bank Mortgage Portfolio Crosses Rs 1 Lakh Cr

14 January, Mumbai

Private Sector lender ICICI Bank Thursday said that it crossed the milestone of disbursing mortgage loans of over Rs 1 lakh crore, a first among private sector banks in the country.

To commemorate this milestone, the Bank also launched two new digital initiatives to simplify and quicken the assessment for new home loans as well as disbursements linked to the construction stage of projects.

The first service- online approval of home loans at an unprecedented speed of within eight working hours empowers borrowers to complete the entire mortgage assessment online without visiting a branch.

Christened Express Home Loans, with this offering customers can now make their applications, upload KYC and incomedocuments, and receive the final home loan approval anywhere at their convenience. This service is available for all salaried individuals, including non-ICICI Bank customers.

The second initiative helps individuals taking home loans for under construction projects to get subsequent disbursements (after the first disbursement) through the Banks iLoans mobile application in a completely paperless way from the convenience of their home or office.

All they need to do is download iLoan app,scan and upload the demand letter from builder and proof of own contribution. Once uploaded, ICICI Bank assesses the demand and makes the disbursement.