EMI on Debit Card

 

Get ready to experience next-level convenience in shopping, with EMI on Debit Card. This solution by ICICI Bank lets you convert the purchases into EMIs (Equated Monthly Instalments). You can make purchases instantly and pay for them at your convenience in the form of EMIs, over a period of 3–12 months.

 

CONVERT NOW      EMI CALCULATOR

EMI on Debit Card: Fees and Charges

  • Processing Fee:

    ₹199 + GST

  • Auto-Debit Return Fee:

    ₹500 + GST 

  • Interest Rate:

    16% per annum

  • Late Payment Charges:

          If outstanding balance is less than ₹10,000: ₹500 + GST

          If outstanding balance is more than ₹10,000: ₹750 + GST

  • Foreclosure Charges:

    3% of the outstanding principal amount + GST + next month’s EMI interest charges

  • Cash Transaction Charges for EMI Repayment through bank branches:

    ₹150 + GST

EMI on Debit Card FAQs

Is an EMI option available for making payments through Debit cards? 

Yes, with ICICI Bank Debit Cards, you can make payments through EMI.

What is the repayment tenure on EMI payments made through Debit Cards?

You can choose between 3 months, 6 months, 9 months, and 12 months to repay EMI payments made through your repay EMI payments made through your Debit Card.

Can I foreclose my EMI repayments early?

Yes, you can foreclose your EMI repayments earlier but you will have to bear a certain fee.

Which websites allow you to buy products through EMI on Debit Cards?

Most websites allow you to buy products through EMI on debit cards, including Amazon, Flipkart, etc.

What is the documentation needed to avail EMI on debit cards?

No documentation is needed to avail the benefit of making EMI payments through payments through Debit Card.

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