EMI On Call: Easy post purchase EMI on Credit Card

After making a purchase with your Credit Card, you can choose to pay for it in the form of EMIs (Equated Monthly Instalments) through iMobile, WhatsApp Banking, Internet Banking, the OTP page or using your phone. ICICI Bank’s EMI On Call facility helps you pay the instalments conveniently over a tenure that ranges from 3 months to 24 months.

All retail transactions of ₹ 1,500 and above can be converted into EMIs, with some exceptions:

• Transactions older than 30 days cannot be converted into EMIs
• Certain categories of transactions like cash, gambling, fuel, gold & jewellery purchase, etc. are not eligible for the ‘EMI On Call’ facility. In particular, jewellery & gold transactions cannot be converted into EMIs as per the guidelines issued by RBI from time to time.

This facility offers EMI payments with interest payment at a rate of up to 1.5% per month on a monthly reducing balance basis. A one-time processing fee of up to 2% of the transaction value is charged at the time of EMI conversion. A foreclosure fee of up to 3% and advance EMI interest and GST as applicable shall be chargeable if you opt for pre-closure of the EMIs.

You do not need to pay for the EMIs separately. EMIs are billed as a part of the Credit Card statement that is generated every month as per the billing cycle.

You can deduct the converted amount from the statement bill and pay the differential amount.

Converting to EMI does not negatively impact your credit score as long as you make timely EMI payments. However, late payments can affect your credit score.