ICICI Bank announces launch of India’s first comprehensive banking program for millennials.
Inspired by ‘Millennial Network,’ and the proposition stands for ‘ICICI Bank Mine,‘ which offers an instant savings account, feature-driven iMobile app that provides investment guidance to meet millennials’ demand.
Executive Director, Anup Bagchi ICICI Bank stated, “Our extensive research shows that millennial customers want banking to be simple, digitally enabled and customized.
Based on such insights, we have created ‘ICICI Bank Mine,’ the country’s first full banking stack for millennials, which offers a mobile-first, highly personalized, and experiential banking experience to them.
While the millennial customers want ‘digital first,’ we have digital-first’ they don’t wish to only digital Bank.
This has led to introduce a new format experiential branch suited to the lifestyle of millennials.
Any millennial digital-only can apply digitally for ‘ICICI Bank Mine’ account from 6th November.
Instant savings account opening: A millennial could easily open savings account entirely instantly on Bank’s website or iMobile application using his/her Aadhaar or PAN card.
The account number and virtual debit card are instantly generated, which customers can use immediately to start transacting and making payments online.
New look iMobile: The customers have instant access to new-look ‘iMobile,’ the Bank’s mobile banking app, with a refreshed and millennial-friendly language.
The new version provides two additional benefits and the already existing bouquet of features to customers.
Such recommendations include credit/debit card upgrade, reward redemption, investment, among others. This version of ‘iMobile’ enables millennial customers to save their goals.
Customers could pick up investment options, out of a list of three, as per their purpose and their risk profile.
New credit card with curated features: ICICI Bank offers the country’s first flexi-plan credit card to enable ‘ICICI Bank MINE’ customers to choose a plan every month to suit their lifestyle and monthly requirement.
They can pick a project from a bouquet of three just by a click on iMobile.
Instant personal loan and overdraft facility: Millennial customers can avail of two instant credit facilities through ‘iMobile’ to fulfill their aspirations.
One, pre-approved customers can avail of ‘Insta Personal Loan’ facility up to Rs 25 lakh in just three seconds for their one-time requirements like the purchase of consumer durables, wedding, relocation, among others.
Two, they can also fund unforeseen monthly recurring expenses by availing the facility of Insta Flexicash, an overdraft linked to their ‘ICICI Bank Mine’ account.