ICICI Bank has harnessed new technologies and thought processes to introduce numerous products and services in the area of Corporate Finance to suit various clientle. The products can be broadly classified into:
- Overdraft Facility
- Short Term Loan
- Revolving Credit Facility (RCF)
- Term Loan (fixed or floating)
- Bridge Loan
Stand by Line where interest is charged only on amount drawn. Overdraft facilities can be obtained against Deposits, Government securities and other liquid financial instruments, against specified securities such as tangible assets or on a clean basis at the bank's discretion.
This is an advance for working capital requirements for specific periods of one year or less where amounts repaid may be re-borrowed, at the Bank's discretion. It is repayable at maturity or on demand. Interest payments can be made monthly, quarterly or together with the principal. Further, if required, the principal that is repaid at maturity or can be rolled over the facility tenure at a new contracted rate.
RCF is a committed facility for a fixed period and is available for drawing at any time before the final expiry date. RCF would be useful for meeting your short term needs and could also act as a source for your long-term working capital. Interest payments and principal repayments are made at the end of each advance or the principal can be rolled over with a new contracted rate.
This is an advance granted by the bank for a fixed term of more than one year. It is a non-revolving facility with a pre-determined expiry date. The facility is a committed facility and a commitment fee applies on the undrawn amount. Amount once repaid cannot be redrawn. The interest rate can be variable, pegged to a base rate or fixed upfront.
A bridging facility (e.g. Bridging Overdraft, Bridging Term Loan, etc.) is a temporary facility for a specific purpose, which will be refinanced by another facility to be granted by either the Bank or another financial institution, or a readily identifiable source of funds.