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ICICI Bank on Monday announced that it has partnered with Amazon India to offer overdraft (OD) facility upto 25 lakh to individual sellers and small businesses registered on the e-commerce company’s online marketplace. 

Driven by API integration, the partnership enables sellers to avail an OD from the Bank in a process--from application to sanction to disbursement-- that is entirely digital, the bank. Even customers of other banks can avail the OD facility from ICICI Bank, if they are registered as sellers with

Sellers having current account with ICICI Bank can immediately start using the OD to meet their working capital requirements. Customers of other banks can avail the OD by simply opening a current account with the Bank digitally.

Speaking on the initiative, Pankaj Gadgil, Head- Self Employed Segment, SME & Merchant Ecosystem, ICICI Bank said, “The partnership stands to enable sellers to avail instant overdraft up to Rs. 25 lakh in a completely digital manner. They can start using the OD amount immediately to meet their working capital requirements. This new and improved process will help the sellers, who may otherwise not get access to adequate credit when assessed in the traditional way of using only balance sheets, bank statements and tax returns.''

Below are steps for the sellers to avail the ‘InstaOD’:

· View offer: Eligible sellers can find the ICICI Bank offer on their account of Amazon Seller Central, online portal for sellers registered on

· Click on banner: The seller is redirected to ICICI Bank’s ‘InstaOD’ platform upon clicking on the banner on Seller Central

· Fill details: The seller needs to login and fill in the digital application form

· Confirm to sanction amount: Upon confirmation of the amount from the seller, the OD is instantly sanctioned. If the seller already has a current account with ICICI Bank, then the seller can immediately start using the OD

· Account opening for new-to-bank seller: Sellers new to ICICI Bank, will be redirected for instant opening of current account and KYC validation.

Vikas Bansal, Director – Amazon Pay India said, “We are prioritizing our efforts to help sellers on bounce back from the disruption owing to COVID-19. Our mission is to enable easy and trusted access to credit for sellers with transparent policies and at low costs. Our partnership with ICICI Bank will provide sellers across India with an OD facility instantly and digitally at affordable rates to meet all their current and future requirements."

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