Home Overdraft FAQs

The Home Overdraft (OD) is a mortgage facility, which allows you to withdraw funds whenever you need them and pay interest only on the amount utilized.

A regular home loan has EMIs based on the full sanctioned amount. In contrast, Home Overdraft instalment is only on the utilised amount and not on the entire limit sanctioned

Yes. Both new and existing customers may opt for a Home Overdraft facility.

It is a secured credit facility backed by a property.

Yes, there are commitment charges on unutilized amount. Please visit https://www.icici.bank.in/personal-banking/loans/home-loan/service-charges to know more

Interest is charged only on the daily utilized amount. If you withdraw ₹1 lakh for 10 days, interest is calculated only for those 10 days.

No, there is no concept of fixed instalments in an Overdraft (OD) facility. As per ICICI Bank’s Overdraft structure, the principal outstanding reduces as per the defined dropline schedule, not through fixed EMIs.Interest is charged only on the amount utilized, calculated on a daily outstanding basis.

Yes, you can repay partially or fully at any time through iMobile app, Net banking, or branch deposits. Repayments reduce interest immediately.

Yes, because your interest component will increase on utilized amount. But principal repayment remains the same as per repayment schedule.

Depositing money into the OD account reduces your utilized amount—not the sanctioned limit—giving you full flexibility to withdraw again if needed.

You can access and manage your OD account through iMobile app, Net banking, by visiting a branch.

Your available limit, utilized balance, and drawable amount are shown in real-time on Net banking and iMobile app.

Yes. Withdrawals through Net banking, IMPS/NEFT, or to linked accounts are available round-the-clock.

Some automated sweep-in/sweep-out features are available, but you can also manually transfer anytime.

Transactions beyond your sanctioned OD limit are not permitted. The system auto-blocks excess withdrawal attempts.

Yes, based on updated property value, repayment record, and credit score. A fresh eligibility assessment will be done. Customer needs to apply for a credit enhancement loan through fresh loan applications.

Salaried and self-employed customers can apply, subject to creditworthiness and property documentation.

Yes. A good credit score improves your chances of approval and may help secure better terms.

KYC documents, income proof, property documents and any additional documents as per underwriting norms.

Yes in case of new application fresh property documents are required.

It is protected by standard ICICI Bank security layers—multi-factor authentication, encrypted transactions, and secure login systems.

Yes. ICICI Bank may review usage patterns for fraud prevention and compliance monitoring.

Yes. ICICI Bank may review usage patterns for fraud prevention and compliance monitoring.

Yes. You can visit nearest branch or download the statement from Net banking .

The statement provides detailed daily interest calculations. You can also raise a request for an interest certificate.

GST is not charged on interest but applies to processing fees and other service charges.

No. You can withdraw any number of times without additional charges (except normal transaction charges based on selected mode of payment).

You must clear the outstanding utilized amount and request closure by visiting nearest branch.

Yes. You may request to convert OD back to a normal EMI-based structure by visiting brand to initiate the request.

Closure of unused or minimal-use OD may improve credit utilization ratio, positively impacting your credit score.

It depends on internal policy. Many customers use OD for business cash flow or working capital needs. OD given to salaried customers cannot be used for business purpose. OD given to self-employed customers/entities on their current account can be used for business.

Your interest payable increases proportionally since OD follows floating Mortgage loan rates.

High OD utilization may slightly impact credit evaluation for other loans since it reflects higher ongoing obligations.