ICICI Bank launches Insta Flexicash, a facility for salary account customers

The facility is called Insta Flexicash and it can be availed by the bank's pre-approved customers using its internet banking platform. According to The Economic Times, the facility can be sanctioned immediately while customers can start using the approved overdraft limit within 48 hours. The interest payable on the overdraft is calculated on the basis of the amount availed by the customer, not on the full amount of the overdraft sanctioned.

ICICI Bank customers can avail the facility by logging into their internet banking account, by navigating the ‘offers’ section or checking their pre-approved OD offer and apply.