Things you should know

  • Loan amount

    Up to 90% of deposit principal, subject to eligibility.

  • Eligible deposits

    Available against NRE and FCNR deposits without premature withdrawal.

  • Loan currency

    Offered in USD or BHD, based on eligibility.

  • Loan tenure

    From 1 month to 3 years.

  • Interest payment

    Payable annually; for tenures below 12 months, payable with principal at maturity.

  • Interest rates

    Competitive rates. Contact the Bahrain Branch or Relationship Manager for details.

About Loans Against Deposit

What is a Loan Against Deposit? 

A Loan Against Deposit enables customers to meet liquidity needs by availing credit against their NRE and FCNR deposit without closing it.

Loan disbursement process

Once documentation is completed and eligibility verified, the loan amount is disbursed in USD or BHD based on your chosen currency.

Repayment process

Interest is paid annually, while principal repayment follows the tenure chosen. Loans below one year require full payment at tenure end.

Benefits of the product

Retain your deposit benefits, enjoy attractive rates, and access quick liquidity with minimal documentation.

Who can apply?

Both resident and non-resident individuals of Bahrain, holding eligible deposits with ICICI Bank can request a loan based on deposit type and value.

FAQs

What is the minimum amount required for a Loan Against Deposit?

Your eligibility depends on the value of your existing deposit. Loans are available up to 90 percent of the principal amount.

Are my NRE and FCNR deposits eligible?

Yes, loans can be taken against NRE and FCNR deposits without breaking them.

Is interest on the loan taxable?

Tax applicability depends on the jurisdiction of the customer. ICICI Bank Bahrain does not deduct tax on interest for this product.

What is the maximum tenure of the loan?

The maximum loan tenure offered is 3 years.

Can I have a joint account holder for this loan?

Yes, if the deposit is jointly held, all holders may be required to sign the loan documents.

Disclaimer

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