ICICI Bank has launched a debit card facility for the customers availing the Loan Against Securities (LAS) from the Bank. The debit card is available on the Visa platform. With this launch, ICICI Bank has become the first bank in India to launch such a facility.
The LAS debit can be used by customers across all domestic merchant establishments to make seamless POS and online transactions like payments on e-commerce portals among others, using their sanctioned LAS amount.
Benefits of the debit card:
- Transaction limit: The card offers a maximum daily transaction limit of Rs. 3 lakh each for POS and online transactions.
- Digital card: The Bank provides a digital card to customers, which is made available on iMobile app within one business day. (Physical card will be made available within seven business days.)
- Automatic renewal: The card is automatically renewed upon renewal of the LAS account.
Important takeaways for all competitive exams:
- CICI Bank Headquarters: Mumbai, Maharashtra.
- ICICI Bank MD & CEO: Sandeep Bakhshi.
- ICICI Bank Tagline: Hum Hai Na, Khayal Apka.