Singapore Airlines and ICICI bank jointly launched a card, “Travel Agency Credit Card.” The airlines announced a special fare during the launch of the card on Monday.
In a press release an airline said that it was the first time that the bank has launched a credit card solely for travel related transactions-air tickets, hotels and travel insurance.
The release said this would also open up a new distribution channel for its travel agents.
As part of this program, Singapore Airlines has announced a special all inclusive fare of Rs 15,500, which would be effective till January 31, 2008.
Tuesday, December 18, 2007
Thursday, December 13, 2007
Loan in just two days for Sri Lanka ICICI bank customers
ICICI bank India’s biggest private sector lender is intensifying its presence in Sri Lanka Recently ICICI Bank launched a special scheme of sanctioning a loan in just two days to its customers.
Highlighting the importance of speed and convenience, Prem Thampi, country head, ICICI Bank Sri Lanka, said the lender is flourished on providing the best service to its customers.
"Apart from introducing innovative products, the bank also has necessary capabilities to process loan applications faster. Be it personal loans, motor bike loans or car loans, the bank will make them available to customers in just two days", he said yesterday.
Loans will be available to salaried as well as self-employed customers, and the latter will be able to apply on the basis of their past repayment track records.
The loans will be processed in two days, but the screening of the applications will continue as per the bank's stringent credit appraisal policy, the official said.
ICICI Bank Sri Lanka is amongst the few banks who are offering a special motorbike loan facility in the country.
ICICI Bank's have a car loan schemes in which it is providing finances to buy new, re-conditioned and used four-wheelers.
"We have actively started promoting loans for used cars and re-financing vehicles and we do financing up to 90% of the vehicle value," Thampi said.
An official from ICICI bank informed that bank is also offering early settlement of loans with a 100% interest rebate and minimal foreclosure charges.
In the personal loan category, a loan for meeting wedding expenses, buying a household appliance or even for a holiday abroad, are available. Thampi said, "loan applications can be processed at the applicant's home or work place and at their convenience."
As a special value addition, ICICI Bank is offering free life insurance, which will cover the outstanding loan amount in case of an accident.
All loan applicants can avail a free ATM/Debit card, which is accessible at any Visa ATM across the country without any withdrawal fee.
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.
Highlighting the importance of speed and convenience, Prem Thampi, country head, ICICI Bank Sri Lanka, said the lender is flourished on providing the best service to its customers.
"Apart from introducing innovative products, the bank also has necessary capabilities to process loan applications faster. Be it personal loans, motor bike loans or car loans, the bank will make them available to customers in just two days", he said yesterday.
Loans will be available to salaried as well as self-employed customers, and the latter will be able to apply on the basis of their past repayment track records.
The loans will be processed in two days, but the screening of the applications will continue as per the bank's stringent credit appraisal policy, the official said.
ICICI Bank Sri Lanka is amongst the few banks who are offering a special motorbike loan facility in the country.
ICICI Bank's have a car loan schemes in which it is providing finances to buy new, re-conditioned and used four-wheelers.
"We have actively started promoting loans for used cars and re-financing vehicles and we do financing up to 90% of the vehicle value," Thampi said.
An official from ICICI bank informed that bank is also offering early settlement of loans with a 100% interest rebate and minimal foreclosure charges.
In the personal loan category, a loan for meeting wedding expenses, buying a household appliance or even for a holiday abroad, are available. Thampi said, "loan applications can be processed at the applicant's home or work place and at their convenience."
As a special value addition, ICICI Bank is offering free life insurance, which will cover the outstanding loan amount in case of an accident.
All loan applicants can avail a free ATM/Debit card, which is accessible at any Visa ATM across the country without any withdrawal fee.
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.
Wednesday, November 21, 2007
ICICI Bank to cough up Rs 1 lakh for not following due legal procedure for seizing car
The courts are getting strict on the banks over the issues related to recovery methods adopted by the banks and their recovery agents.
Earlier on 5th November the Delhi state consumer disputes redressal commission had slapped a fine of Rs 55-lakh on ICICI Bank for trying to recover a vehicle loan by hiring goons.
Again ICICI bank is in news for the same reason. This time the bank has been slapped a fine of Rs 1 lakh compensation to a woman for not following due legal procedure while seizing her car after alleged default in payment. The bank has been accused of sending recovery agents to housewife Renu Bhandwalkar's home and damaging her car. The order was passed by the Pune district consumer disputes redressal forum against the petition filed by Renu Bhandwalkar.
The Pune forum, in its order last month, observed that Bhandwalkar had kept a deposit of Rs 58,000 with the bank and given instructions to transfer it to her savings account if her account did not have sufficient balance to clear the cheques of equated monthly installments against the loan.
The bank, however, did not do so and seized her car. In a petition filed before the forum in September 2006, Bhandwalkar said she took a Rs 4 lakh loan from the bank at 12% interest with a monthly repayment installment of Rs 10,632 in October 2003.
Earlier on 5th November the Delhi state consumer disputes redressal commission had slapped a fine of Rs 55-lakh on ICICI Bank for trying to recover a vehicle loan by hiring goons.
Again ICICI bank is in news for the same reason. This time the bank has been slapped a fine of Rs 1 lakh compensation to a woman for not following due legal procedure while seizing her car after alleged default in payment. The bank has been accused of sending recovery agents to housewife Renu Bhandwalkar's home and damaging her car. The order was passed by the Pune district consumer disputes redressal forum against the petition filed by Renu Bhandwalkar.
The Pune forum, in its order last month, observed that Bhandwalkar had kept a deposit of Rs 58,000 with the bank and given instructions to transfer it to her savings account if her account did not have sufficient balance to clear the cheques of equated monthly installments against the loan.
The bank, however, did not do so and seized her car. In a petition filed before the forum in September 2006, Bhandwalkar said she took a Rs 4 lakh loan from the bank at 12% interest with a monthly repayment installment of Rs 10,632 in October 2003.
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