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    EMI @ UPI FAQs

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    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

    What is EMI @ UPI?

    Discover the ease of paying with EMI through UPI Scan to Pay for merchant QR codes. If your purchase goes beyond ₹10,000, you can turn it into smaller, budget-friendly instalments, with the flexible tenures in iMobile App. It is your way to stay in control of payments and manage your budget effortlessly.

    Only for pre-approved customers. Check your eligibility in iMobile >> Pre-approved offers/loans

    What are the Benefits of EMI @ UPI?

    Our EMI@UPI option gives you the flexibility to convert your UPI transaction into easy monthly installments. This can be beneficial as –

     

    You can take multiple loans as per your need with the EMI@UPI offer

    You will not miss an EMI with our auto debit facility

    The instant disbursements and payment to merchants makes the entire process hassle free and smooth

    You can track your loans, EMIs, and payments seamlessly with iMobile 

    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. 

    Only for pre-approved customers and for bill amount more than ₹10,000. Check your eligibility in iMobile >> Pre-approved offers/loans

    How can I pay EMI for my Loan Account?

    We will automatically deduct the overdue EMI amount from your linked ICICI Bank Savings Account on 1st of every month (Next business day in case of bank holiday on 1st of the month). You can also repay using the iMobile Pay app in the 'Loans' section under 'EMI @ UPI’ on or after your due date.

    We 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 (next business day in case of holiday on 1st) and if Loan Account is opened between the 11th to end of the month, EMI due date will be 1st of the month (next business day in case of holiday on 1st) following the next.

    How can I close the Loan Account?

    Our dedicated Customer Care team is here to assist you with closure requests or any other questions 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 for pre-approved customers for Scan and Pay transactions of above ₹10,000. 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

    Who can avail EMI@UPI?

    Customers with EMI@UPI pre-approved offer. Check your eligibility in iMobile >> Pre-approved Offers/Loans

    Where can’t I use EMI@UPI option?

    EMI@UPI loan cannot be availed for repaying dues of credit instruments (credit cards, loans etc), investment, gambling, betting, lotteries, CBDC wallet loading, cash withdrawal, account opening fee, security brokers, person-to-person fund transfers, and jewellery. The categories mentioned are as per RBI guidelines and may differ basis changes by RBI

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