Most Important Terms and Conditions (MITC)

To get the complete version of the Credit Card Terms and Conditions, please visit www.icicibank.com

(a) Schedule of fees and Charges:

Please note that the entire Schedule of Fees and Charges, benefits and features may change at any point of time at the discretion of ICICI Bank with prior notice to the customer.

1.Joining Fees, Annual Fees and Supplementary Card Fees: There is no joining fee for Amazon Pay ICICI Bank Credit Card.

2.Finance Charges:

The interest rate will vary dynamically from 3.5% per month to 3.8% per month based on the customer’s behaviour and performance.

Finance Charges (w.e.f Nov 15, 2024)

3. Other Fees and Charges:

^*Over-Limit Fee: Bank may approve certain transactions attempted by the Card Member, which can breach the credit limit, as a service gesture. Please note that if the outstanding amount exceeds the credit limit, an over-limit fee of 2.5% of the over-limit amount (subject to a minimum of ₹550) will be levied. Over-limit status may also happen because of fees or interest charges.

^**Charges in foreign currency: If a transaction is made in a currency other than Indian Rupees, that transaction will be converted into Indian Rupees. The conversion will take place on the date the transaction is settled with ICICI Bank, which may not be the same date on which the transaction was made. If the transaction is not in USD, the conversion will be made through USD, by converting the charged amount into USD and then by converting USD amount into Indian Rupees.

Unless a specific rate is required by applicable law, the conversion rate from USD to Indian Rupees will be at the rates provided by VISA, as the case may be, on the settlement date, increased by a Currency Conversion Factor assessment (currently 3.50%) on such transactions.

^***All transactions towards payment of rent on any merchant will be levied 1% fee. No reward point will be extended for the transaction routed from 6513 MCC (Merchant Category Code).

^#In addition, ₹50 + GST will be debited from the customer’s Savings Bank Account. In case customer has executed a partial payment against Total Amount Due (TAD), then fee will be calculated on Total Amount Due (TAD) minus payment if applicable.

Transaction categories

4. Interest Charges:

1. Interest will be charged if the Total Amount Due is not paid by the payment due date. Interest will be charged on the Total Amount Due and on all new transactions except Fees / charges and GST / Taxes (from the transaction date) till such time as the previous outstanding amounts are paid in full. In addition, interest will be levied on all cash advances from the date of the transaction until the date of payment

2. The rate of interest may be changed at the sole discretion of ICICI Bank

3. In case of default, interest charges may increase up to a maximum of 3.8% per month (46% per annum).

The following illustration will indicate the method of calculating interest charges:

In the table given below, it has been assumed that the Total Amount Due of the previous month’s statement has been paid by the payment due date and there is no outstanding amount. The statement date is 15th of every month. Given these assumptions, interest will be calculated as below:

GST will be applicable on interest charges.

Effective Oct 26, 2023, any fee / GST transaction on the customer’s statement after Oct 26, 2023 will not be compounded for interest calculation.

The following illustration will indicate the method of calculating interest charges:

In the table given below, it has been assumed that the Total Amount Due of the previous month’s statement has been paid by the payment due date and there is no outstanding amount. The statement date is 8^th of every month. Given these assumptions, interest will be calculated as below:

6. Late Payment Charges (LPC):

Late payment charges will be applicable if the Minimum Amount Due is not paid by the payment due date.

Illustrative Example for Calculation of Late Payment Charges:

Payment of at least Minimum Amount Due i.e., ₹100 in the above example is required to be paid by the payment due date (3^rd May), to ensure that no late payment charges are levied. If minimum amount due is not paid, late payment charges would be levied as per the below table:

Illustrative Example for Calculation of Late Payment Charges:

Effective Oct 27, 2023, late payment will be charged on Total Amount Due minus any payment received before payment due date. The following illustration will indicate the method of calculating Late Payment Charges:

This charge will also be applicable if you make a payment of less than the minimum amount due by the payment due date. GST will be applicable on late payment charges.

7. Interest- Free (Grace) Period:

The grace period could range from 18 to 48 days.

Illustrative example for the calculation of grace period: For a statement for the period from Apr 15, 2019 to May 15, 2019 the payment due date would be Jun 2, 2019. Assuming that you have paid your Total Amount Due of the previous month’s statement by the payment due date, the grace period would be:

1. For a purchase dated Apr 24, 2019, the interest-free grace period is from Apr 24, 2019 to Jun 2, 2019, i.e., 40 days

2. For a purchase dated May 14, 2019, the interest-free grace period is from May 14, 2019 to Jun 2, 2019, i.e., 20 days.

Thus, the grace period can vary depending upon the date of purchase. However, if the Total Amount Due is not paid by the payment due date, then there will be no interest-free period.

For cash advances, interest is charged from the date of the transaction until the date of payment.

1. Withdrawal Limits: The Credit Limit and Cash Withdrawal Limit are communicated at the time of delivery of the Card and are indicated in the monthly statements. Available credit limit is calculated by deducting the utilised limit from the Total Credit Limit. In case the Card Member has availed of any loan within the credit limit on the Card, the outstanding loan amount will also be deducted from the Total Credit Limit to arrive at the Available Credit limit.

Cash limit will be a sub-set of credit limit and will be NIL for the first one hundred and eighty (180) days from the date of issuance of the Card, as it is specified on select Cards as may be specified by ICICI Bank. After the expiry of the first 180-day period from the date of issuance of the Card, ICICI Bank will make the cash limit available to the Card Member at its sole discretion and on such terms as may be communicated by ICICI Bank from time-to-time.

The Card Member shall be entitled to apply for a review / enhancement / reduction of the credit limit and / or cash limit if provided by ICICI Bank, upon completion of 12 months of his / her membership. Alterations upon such review, if any, of the credit limit and / or cash limit will be at the sole discretion of ICICI Bank. ICICI Bank shall at its sole discretion be entitled to review (including enhancement or reduction) the credit limit and / or the cash limit assigned on the Card at any time and only enhancements, if any, to the credit limit and / or the cash limit, shall be executed by ICICI Bank along with the consent of the Card Member.

1. Billing: Billing Statements – periodicity and mode of sending: All Card Members will be billed on a monthly basis for all charges incurred by the use of the Card and for all charges applicable to the Card account. However, there may be no statement generated for the period in which there has been no outstanding due and no transaction on the account in the past month. The billing statement will be dispatched on a monthly basis to customers at the mailing address as per our records by post and / or by e-mail.

1. Minimum Amount Payable: Without prejudice to the liability of the Card Member to immediately pay all charges incurred, the Card Member may exercise the option to pay only the Minimum Amount Due (MAD) indicated in the statement by the due date. The Minimum Amount Due shall be 5% of the outstanding amount or such other amount as may be determined by ICICI Bank at its sole discretion. In case of any repayment through instalments, the instalment amount due during the statement period will be added to the Minimum Amount Due. If the total outstanding is more than the credit or cash limit, then the amount by which the credit or cash limit has been exceeded will also be included in the Minimum Amount Due. Any fee charged in the statement over the credit limit will be considered twice in Minimum Amount Due calculation. Fee & GST on customer’s statement post Oct 26, 2023 will also be included in the Minimum Amount Due. Minimum Amount Due shall also include unpaid Minimum Amount Due of the previous statements, if any. Interest will be charged if the Total Amount Due is not paid by the payment due date even if the Minimum Amount Due has been paid.

Effective Oct 26, 2023, fee & GST on customer’s statement post Oct 26, 2023 will also be included in the Minimum Amount Due.

Illustration of Minimum Amount Due Calculation: The following illustration will indicate the method of calculating Minimum Amount Due:

In the table given below, it has been assumed that the Total Amount Due of the previous month’s statement has been paid by the payment due date and there is no outstanding amount. The statement date is 8^th of every month. Given these assumptions, Minimum Amount Due will be calculated as below:

If the customer has registered for Auto Debit facility towards Credit Card repayment and has selected Minimum Amount Due option, then the same will be executed on the due date provided no amount is paid by the customer before due date.

If the customer has paid an amount less than the Minimum Amount Due before due date, then the differential amount would be debited. If customer has paid an amount, which is equal to or more than the Minimum Amount Due before due date, then no additional amount will be debited from customer’s liability account.

If you spend ₹5,000 and pay back exactly the Minimum Amount Due (subject to a minimum payment of ₹100) every month, it will take you up to 6 years and 6 months to pay back the total amount. We therefore suggest that whenever your cash flows allow, pay back an amount substantially more than your Minimum Amount Due. Transactions converted to EMI / and promotional cashback will not be considered as a payment towards the outstanding of the Card.

In case the Card member makes an excess payment compared to the outstanding of the Card, there will be credit balance in the Card account. This will be adjusted against the subsequent transactions on the Card. However, no interest can be claimed on this excess credit amount.

2)Method of payment: Payments towards the Card Account may be made in any of the following ways:

• Cash: The Card Member may deposit cash at any of the branches of ICICI Bank towards the Card payment. Such payments at branches would attract a fee of ₹100 per payment transaction

• Cheque / DD: Make a cheque or Demand Draft (DD) favouring ICICI Bank Credit Card No. XXXX XXXX XXXX XXXX and drop it into the collection box at any ICICI Bank Branch / Skypak drop box / ATM location where drop boxes are available. If customer has made the payment towards the Credit Card dues by cheque, then Credit limit equal to cheque amount will be released only post realisation of the cheque

• Internet Banking: If the Card Member holds a Savings Account with ICICI Bank, he or she may pay online through ICICI Bank website. Just log in to www.icicibank.com

• Auto Debit: If the Card Member holds a Savings Account with ICICI Bank, he / she may pay directly through the Savings Account by giving an instruction in writing to debit the payment from such account every month on the payment due date. In case the payment due date falls on a Sunday, the amount would be debited from such account on the next day

• Click to Pay / NEFT: Pay your ICICI Bank Credit Card dues from any of your other bank Savings Accounts using Click to Pay / NEFT.

1. Refund / Failed / Reversed Transactions: Any merchant refund, income reversal, chargeback / fraud credit (permanent) received by cardholder will be considered as payment.

If the above-mentioned reversals are received by the cardholder after the statement is generated and before the payment due date, then it will be adjusted against Total Amount Due (TAD) and Minimum amount Due (MAD) on the current statement cycle.

1. If the above-mentioned reversals are received by the cardholder after the payment due date & before 2 days prior to the next statement generation date and customer has already made the payment of Total Amount Due (TAD) by payment Due Date then the amount will be transferred to the Bank’s Savings Account

2. If Customer has not made any payment or paid partially against Total Amount Due (TAD) by payment Due Date, then these reversals will be adjusted against current balance of the Credit Card and any residual amount left out of these reversals post adjustment will be transferred to Bank’s Savings Account.

To select the customer’s Savings Account, below steps will be followed:

1. If Customer has opted for Auto Debit facility, then the Savings Account setup for Auto Debit will be considered for the transfer of funds

2. If Customer has not opted for Auto Debit facility but still has Bank’s Savings Account(s), then the latest Open, Active, Non-Dormant Savings Account will be considered for the transfer of funds

3. If Customer does not have the Bank’s Savings Account, then a communication will be triggered to the customer seeking Savings Bank Account details for crediting the amount.

1. Cancellation of Credit Cards:

For existing Card account: If all Credit Cards have not been used for a period of 12 months, the process to close the Card shall be initiated after intimating the cardholder. If cardholder wishes to continue using the Card, in such case, explicit consent within 30 days would be required; failing which, the Card account shall be closed, subject to payment of all dues by the cardholder.

For a new Card: The Card needs to be activated by the customer within 30 days of Card issuance. If the Card has not been activated by the customer, the Bank shall keep the Card active, only with an OTP-based consent from the customer. All other cards shall be closed in the next seven working days (by 37^th day from Card issuance date) without any cost to customer. Bank will not levy any fee for the Card and not report the Card information to bureau unless the new Card is activated by customer

1. Changes in fees & charges: Changes in fees / charges shall be made only with prospective effect giving prior notice of at least one month to the customer. If a cardholder desires to surrender his / her Card on account of any change in fees / charges to his / her disadvantage, he / she shall be permitted to do so without levying any extra charge for such closure, subject to payment of all dues by the cardholder

1. Billing Disputes Resolution: In the event the Card Member disagrees with the charges indicated in the statement, it should be communicated in writing to the correspondence address of ICICI Bank within 60 (sixty) days of receipt of the statement, failing which it would be construed that all charges indicated in the statement are in order

1. Contact Details of ICICI Bank Customer Care Centre: The Card Member may contact ICICI Bank at the below mentioned Customer Care number as may be notified by ICICI Bank from time-to-time.

Toll Free Customer Care Number for Amazon Pay ICICI Bank Credit Card: 1800 1080

1. Grievances Redressal / Complaints / Escalations: In the event that you are not satisfied with our services, you may register your grievance by (i) visiting ‘Complaint Form’ at www.icicibank.com or (ii) calling at our Toll Free number or (iii) writing to Ms. Sharlet Malvankar, Nodal Officer, ICICI Bank Limited, Bandra Kurla Complex, Mumbai- 400051, India. In all your communications with us, please indicate your complete Credit Card number

1. Complete Postal Address of the Bank: ICICI Bank Limited, Bandra Kurla Complex, Mumbai- 400051, India

1. Toll-free Number for Grievance Redressal: In the event you are not satisfied with our services, you may register your grievance by dialling our toll-free number 1800 1080 between HH:MM a.m./p.m. to HH:MM a.m./p.m. from Monday to Friday, press 1 and then enter the Service Request Number (numeric digits only) which should not be more than 2 months old.

d) Default and Circumstances:

1. If the Card Member fails to pay the Minimum Amount Due by the date indicated in the billing statement, it shall be treated as default. In case of default, the Bank can forward the default report to the Credit Information Bureaus or to such other agencies as approved by law. The time period between the payment due date and the billing date indicated on the billing statement is considered as the notice period for reporting a Card Member as a defaulter. Terms and Conditions governing Credit Card Facilities shall be applicable to the Supplementary Card Holders as well

2. Procedure for withdrawal of default report and the period within which the default report would be withdrawn after settlement of dues:

^*The Bank submits the Card Member’s data to CIBIL (Credit Information Bureau [India] Limited) every month in the format prescribed by CIBIL. This data includes the repayment status of all Cardholders, both defaulters and current, for the previous month. CIBIL uploads the submitted data onto their server in another thirty days

1. Recovery of dues in case of death / permanent disability of the Card Member: It shall be in accordance with the applicable laws after giving sufficient notice for payment of dues and all information regarding the outstanding dues, to the successors / nominees / legal heirs of the Card Member

2. ICICI Bank offers free insurance cover on certain Cards through a tie up with ICICI Lombard General Insurance Company Limited or any other Insurance Company as may be decided by ICICI Bank from time to time. For insurance details, cardholders are advised to go through the brochure in the welcome kit or refer to www.icicibank.com

3. The debt collection policy of the Bank is built around dignity and respect to borrowers. The policy is built on courtesy, fair treatment and persuasion. The Bank believes in following fair practices with regard to collection of dues and thereby fostering borrower’s confidence and long-term relationship. Detailed Policy on Collection of Dues and Repossession of Security is available on https://www.icicibank.com/personal-banking/debtservice/debt-service-policy

1. Termination / Revocation / Surrender of Card membership:

The Card Member may, at any time, choose to terminate the Card Account with or without giving any prior notice. For avoiding misuse, it is advised to cut the Credit Card into four pieces ensuring that the hologram and magnetic strip are destroyed permanently. The Card Member may terminate the Card membership at any time by writing to ‘ICICI Bank Limited, ICICI Phone Banking Centre, ICICI Bank Tower, 7^th floor, Survey no: 115 / 27, Plot no. 12, Nanakramguda, Serilingampally, Hyderabad – 550032, India’ by indicating the complete Card number. The termination shall only be effective once ICICI Bank receives the payment of all amounts due and outstanding in respect of the said Card Account.

In the event of a Credit Card programme closure or at the time of renewal of Credit Card, ICICI Bank Limited at its sole discretion reserves the right to provide a Card type that is different from the existing Card type held by the Card member. The credit limits and cash limits on any Credit Card at any point in time are as per the sole discretion of ICICI Bank Limited.

The Card application shall continue to be valid for any replacement Card provided at the time of closure / renewal.

1. Loss / Theft / Misuse of Card:

In case of loss / theft / misuse of the Card, it must be reported immediately to ICICI Bank either through the Customer Care or by sending the message: CCBLK last four digits of your Card to 5676766 from your registered mobile number. The Bank shall thereupon suspend the Card. The Card Member is advised to file an FIR with the local police station so that the Card Member can produce its copy whenever requested by the Bank. The Card Member shall be primarily responsible for the security of the Card including theft and for the transactions using the Card. The Card Member shall not be liable for any transaction(s) made on the Card post reporting its loss / theft / damage. However, in case of any dispute relating to the time of reporting such loss / theft / damage and / or transactions made on the Card post reporting of the loss / theft / damage / misuse, the Bank reserves the right to ascertain such time and / or the authenticity of the disputed transactions. ICICI Bank reserves the right to block the Credit Card on suspected risk of compromise in order to protect the interest of the Card Member and to avoid misuse in any manner on the Card Account. The Card Member shall not be able to use the blocked Card for any transaction(s) and shall receive a replacement Card within 7 (seven) working days. In the event the Card Member, after being informed by ICICI Bank of the probable fraud risk, still requests to unblock the Card, ICICI Bank shall not stand liable or responsible in any manner for any fraudulent transactions reported to it thereafter on account of fraudulent usage of the Card or otherwise.

1. Disclosure:

The Bank shall part with all available information about the Card Member, repayment history, etc. to Credit Information Bureaus or to such other agencies approved by law. ICICI Bank / Group Companies reserve the right to retain the application forms and documents provided therewith, including photographs and will not return the same.

Disclaimer:

ICICI Bank may at its sole discretion, utilise the services of external service provider(s) or agent(s) and on such terms as required or necessary, in relation to its products.