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    EMI @ UPI FAQs

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    What is EMI @ UPI?

    Discover the incredible ease of paying with EMI through UPI Scan to Pay for merchant QR codes in iMobile Pay. You can turn your big purchases it into smaller, budget-friendly installments, with the flexibility to choose a tenure. It is your way to stay in control of payments and manage your budget effortlessly.

    To know more: https://www.icicibank.com/personal-banking/loans/smart-loan/emi-on-upi

    Only for pre-approved customers

    What are the Benefits of EMI @ UPI?

    Shop with ease and pay in small, convenient installments in your chosen tenure when you use UPI Scan to Pay at your favorite stores. Say goodbye to financial stress and hello to hassle-free shopping!

    To know more: https://www.icicibank.com/personal-banking/loans/smart-loan/emi-on-upi

    Where can we use EMI @ UPI?

    You can use EMI payments for purchases made through UPI Scan to Pay on any merchant QR codes. This makes big-ticket shopping easier and budget-friendly for you.

    Popular purchases with EMI@UPI

    1. Electronics

    2. Fine dining

    3. International Travel bookings

    4. Education bills

    5. Medical bills

    Etc. 

    How can I pay EMI for my Loan Account?

    We will automatically deduct the overdue amount from your ICICI Bank Savings Account on the 1st of every month. You can also repay using the iMobile Pay app in the 'Loans' section under 'EMI @ UPI.' We also offer the flexibility to repay through UPI and NEFT towards your EMI@UPI Loan account number.

    What is the billing cycle for the Loan Account opened through EMI @ UPI?

    For the Loan Accounts opened between the 1st and 10th of any month, EMI due date will be the 1st of the next month and if Loan Account is opened between the 11th to end of the month, EMI due date will be 1st of the month following the next. 

    How can I close the Loan Account?

    Our digital platform currently does not offer a Loan Account Closure option. Our dedicated Customer Care team is here to assist you with any questions or requests that you may have. Please feel free to reach out to us on 1800 1080.

    Are there any charges for using EMI @ UPI?

    Here's what you should know about our EMI @ UPI option:

    • No Hidden Charges: We won't surprise you with processing fees or foreclosure charges.

    • Fixed 18% Annual Interest: You'll have a consistent interest rate throughout your Loan.

    What will happen if I default on EMI repayment?

    Late payments can have an impact on your CIBIL score, as they are reported to credit bureaus. It is important to ensure your payments are made on time, to maintain a healthy credit profile and access to financial opportunities. If you have concerns or face difficulties, reach out to our customer care at 1800 1080.

    Can I open multiple Loan Accounts?

    Certainly! You have the flexibility to open multiple Loan Accounts, making your experience a convenient one. With ICICI Bank’s EMI @ UPI facility, your EMI due date will be set on the 1st of every month, depending on when you open your Loan Account. This helps in easy planning of payments.

    Only for pre-approved customers. TnCs

    I cannot see EMI@UPI option after scanning the merchant QR

    The EMI@UPI option appears only in iMobile Pay for pre-approved customers. Please check pre-approved loans/offer to check if you have EMI@UPI offer

    My EMI@UPI transaction got failed. What to do?

    If any loan account is created with failure to disburse the amount to the merchant, it will be closed within 5 business working days and no EMI will be set up for the repayment. You can try the transaction again after sometime with iMobile Pay by scanning the merchant QR and selecting the EMI@UPI option. If the issue persists, please call our Customer Care between 7:00 a.m. and 9:00 p.m.

    To know more, visit https://www.icicibank.com/customer-care

    How to avail EMI@UPI facility?

    You can scan any merchant QR with iMobile Pay and select the EMI@UPI option. You select any flexible tenure and complete the transaction with a submit click. We will execute the ‘EMI @ UPI’ transaction by setting up a Loan Account for the transaction amount, and disburse the funds instantly to the merchant. It's that simple and quick!

    Know more: https://www.icicibank.com/personal-banking/loans/smart-loan/emi-on-upi

    Applicable only for pre-approved customers

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