ICICI Bank crosses Rs 1 trillion mortgage lending milestone

ICICI Bank today said it has become the first lender in the private sector to cross the milestone of Rs 1 lakh crore mortgage loans.

“ICICI Bank today announced that it crossed the milestone of disbursing mortgage loans of over Rs 1 lakh crore, a first among private sector banks in the country,” it said in a statement. The bank has also launched two new digital initiatives to simplify and quicken the assessment for new home loans as well as disbursements linked to the construction stage of projects.

ICICI Bank launched Express Home Loans, a fully online home loan approval in eight working hours. “This service is available for all salaried individuals, including non-ICICI Bank customers. It is a marked improvement on the existing practice of lenders providing provisional sanctions of home loans to the aspiring borrowers on the basis of their self-declared information”, said the bank. Moreover, it introduced a digital processing through mobile app for part disbursement of home loans for under construction projects.