About this scheme
ICICI Bank InstaBIZ is a digital MSME banking platform. Instant current account opening, pre-approved overdraft, GST-based credit, and tax/regulatory compliance tools embedded.
What you get
- Instant digital current account (video-KYC)
- Pre-approved overdraft up to Rs. 25 lakh
- GST turnover-based credit scoring
- iMobile app for account + credit management
- Tax filing + compliance reminders
- Integrated invoice + GSTR-1 reconciliation
Who qualifies
MSMEs with GST registration. Instant account opening via video-KYC. Pre-approved overdraft based on GST turnover analytics. Available across all sectors.
All industries qualify (no NIC restriction).
Business types
ProprietorshipsPartnershipsPrivate LimitedLLPsOne Person Companies
Available across India (central scheme).
How to apply
- 1Download InstaBIZ app
- 2Open current account via video-KYC
- 3Submit GST registration + PAN
- 4Pre-approved overdraft offer in 24-72 hours
- 5Accept + start using overdraft
- 6Annual renewal
Key terms and conditions
- Interest 10-13.5% on overdraft
- Annual processing fee
- Pre-payment without penalty
- OD limit based on GST turnover band
What disqualifies you
- Non-GST registered: limited offers
- CIBIL below 650 typically rejected
- Annual GST defaulters lose OD facility
Documents typically required
- GST registration
- PAN
- Aadhaar
- Bank account (instant open)
The content above is compiled from public information published by the scheme authority. Eligibility, benefits, and procedures are subject to change. Confirm details directly with the official portal before applying. BharatSeal does not process scheme applications.