ICICI Bank Unveils Speed Loan Scheme In Sri Lanka

Colombo: ICICI Bank, India''s biggest private sector lender, has rolled out a special scheme of sanctioning a loan in just two days to its customers in order to strengthen its presence in Sri Lanka. Loans would be made available to salaried as well as self-employed customers, and the latter would be able to apply on the basis of their past repayment track records. While the loans would be processed in two days, applications however, would continue to be screened as per the bank''s stringent credit appraisal policy. ICICI Bank Sri Lanka is one of the few banks which offers a special motorbike loan facility in the country. ICICI Bank''s car loan schemes provide finances to buy new, re-conditioned and used four-wheelers.

As a special value addition, ICICI Bank is offering free life insurance, which will cover the outstanding loan amount in case of an accident. A free ATM/Debit card, which is accessible at any Visa ATM across the country without any withdrawal fee, is also provided to all loan applicants. ICICI Bank is India''s second largest bank and largest private sector lender there, with assets of Rs 3,64,944 crore (about $92.16 billion) as of September 30, 2007.