Private sector lender ICICI Bank has introduced a debit card facility for customers availing themselves of Loan Against Securities (LAS).
The card is available on the Visa platform and can be used across all domestic merchant establishments to make POS and online transactions like payments on e-commerce portals among others, using the sanctioned LAS amount.
“The debit card will be issued to new customers who avail themselves of LAS and will be automatically renewed upon renewal of the LAS account. Customers get a digital debit card within one business day of availing LAS and will get the physical card within seven business days. Existing customers of LAS will also get this card shortly,” ICICI Bank said in a statement on Tuesday.
The card offers a maximum daily transaction limit of ₹3 lakh each for POS and online transactions.