Buy now, pay later with 24-month No Cost EMI

• "Card" shall mean an ICICI Bank VISA / MasterCard/American Express Credit Card issued by ICICI Bank, that is valid and subsisting during the Offer Period (does not include ICICI Bank EMI Card, Corporate Card, Business Card)
• "Cardholder/s" shall mean such customer/s to whom a Card has been issued and who is authorized to hold the Card
• "Instant EMI" refers to the conversion into EMI upon request by the Cardholder, of transactions performed using the retail Card on EDC (Electronic Data Capture) terminal installed at participating stores or payment gateway of online merchant/s.
• "Primary Terms and Conditions" shall mean the terms and conditions applicable to the Card in addition to these Terms and Conditions.
• “Offer”: Avail of No Extra cost* EMI on select iPhone models and get guaranteed fixed buy back price of iPhone when Cardholder upgrades to next iPhone
• “Offer Period” shall mean period commencing from  1^st April-30^th June. (both days inclusive)
• “Void Transaction” shall mean any transaction wherein the transaction has taken place but has been cancelled by the merchant prior to settlement with ICICI Bank.

• Offer is applicable on below devices only: MacBook Air, MacBook Pro, iMac and Mac Mini
• The device must be purchased from an Apple authorized reseller store only
• Offer valid only on Card swiped on Paytm/Pinelabs POS/EDC terminal under Brand EMI Apple FTI option
• The overall transaction amount will be divided into 2 parts i.e 75% & 25% of the transaction amount
• 75% of the transaction amount (Loan amount) will be converted into equated monthly instalments of 24 month tenure.
• 25% of the transaction amount (Deferred amount) will be billed to cardholder after the end of completion of EMI tenure of loan amount, i.e- in the 25th month Credit Card statement from the 1st EMI month
• The Cardholder shall be responsible to pay the said amount of 25% of the transaction amount at once and in whole as outstanding amount on the card in the billing cycle immediately succeeding the completion of the EMI tenure of the offer
• Interest rate of 8% per annum on reducing basis shall be applicable on overall transaction amount.
• Entire interest amount @8% on overall transaction amount will be charged in the first 24 months of EMI tenure
• Processing fee of 1% on 75% of transaction amount (Loan amount) will be charged in the first month of EMI tenure
• The Cardholder may close the facility (prepayment of the outstanding amount) at any time by contacting ICICI Bank's Customer Care to avail of the foreclosure. Foreclosure charges equal to 3% on outstanding principal amount plus next month’s interest shall be levied to Card account .The Card Member necessarily has to call up the ICICI Bank Customer Care for complete prepayment of the facility
• Goods and Services Tax will be applicable on processing fee, interest and foreclosure charges
• This scheme is provided to cardholder as No extra cost* EMI .The benefit of No extra cost* EMI will be provided as cashback equal to total interest charged by the bank over a period of 24 month tenure. This cashback will be credited into open & active credit card account within 90 days from the end of transaction month, on a best effort basis

Illustration:

• Customer buys a MacBook Air M1 starting Rs. 99,900/-
• Rs 74925 (75% of Rs.99,900) would be converted into EMI for 24 month tenure. Interest would be charged @7.5% (Per annum reducing rate)
• 24975 (25% of Rs 99,900) would be taken as Deferred amount and the same will be billed in the 25th month from the 1st EMI month.
• 7991 will be credited as subvention cashback to make the transaction no extra cost EMI for the customer.

• The participation in the Offer is voluntary and it is understood, that the participation by the Cardholder/s shall be deemed to have been made on a voluntary basis
• Terms and Conditions of ICICI Bank and third parties apply. ICICI Bank makes no representation about the quality, delivery, usefulness or otherwise of the goods/services offered by the third party. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of ICICI Bank / third party
• Images used in all the communications pertaining to the Offer are for representation purpose only
• ICICI Bank EMI Terms & Conditions will be applicable on EMI transactions as mentioned at:https://www.icicibank.com/Personal-Banking/cards/Consumer-Cards/Credit-Card/low-interest-emi-products/instant-emi/terms-and-condition.page
• If the Cardholder/s ceases to be Cardholder/s at any time during the subsistence of the Offer, all the benefits under the Offer shall lapse and shall not be available to the Cardholder/s
• All disputes are subject to the exclusive jurisdiction of the competent courts/tribunals of Mumbai
• All communication / notices with regard to this Program should be addressed to "ICICI Bank Ltd., ICICI Bank Phone Banking Group, P. O. Box No. 20, Banjara Hills, P. O. Hyderabad - 500034"
• In all matters relating to the Offer, the decision of ICICI Bank shall be final and binding in all respects
• These Terms and Conditions shall be in addition to and not in substitution / derogation to the Primary Terms and Conditions governing the Credit Cards. All capitalized terms used but not defined herein shall have the respective meanings ascribed to it in the Primary Terms and Conditions
• ICICI Bank holds out no warranty or makes no representation about the quality, delivery or otherwise of the goods and services offered by the merchant. Any dispute or claim regarding the goods and services must be resolved by the Cardholder/s with the merchant directly without any reference to ICICI Bank
• ICICI Bank shall not be liable in any manner whatsoever for any loss/ damage/ claim that may arise out of use or otherwise of any goods/ services availed of by the Cardholder/s under the offer
• ICICI Bank reserves the right to modify/ change all or any of the terms applicable to the Offer without assigning any reasons or without any prior intimation whatsoever. ICICI Bank also reserves the right to discontinue the Offer without assigning any reasons or without any prior intimation whatsoever
• ICICI Bank reserves the right to disqualify any merchant or Cardholder/s from the benefits of the Offer if any fraudulent activity is identified as being carried out for the purpose of availing the benefits under the Offer
• All taxes, duties, levies or other statutory dues and charges payable in connection with the benefits accruing under the Offer shall be borne solely by the Cardholder/s and ICICI Bank will not be liable in any manner whatsoever for any such taxes, duties, levies or other statutory dues
• The Offer is not available wherever prohibited and / or on merchandise / products / services for which such programs cannot be offered for any reason whatsoever