EMI @ UPI FAQs

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.   

Check your eligibility in iMobile >> Get Instant Loans/offers

At the time of making an eligible UPI payment through ICICI Bank’s mobile banking app, customers can select the EMI option. The transaction amount is converted into a loan and repaid in monthly EMIs.

EMI @ UPI can be used for purchases made through UPI Scan to Pay on any merchant QR codes (on valid merchant category codes. This makes big-ticket shopping easier and budget-friendly for you. Popular purchases with EMI@UPI are Electronics, Fine dining, Travel bookings, Education bills, Medical bills, etc.

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: /personal-banking/loans/smart-loan/emi-on-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 make the entire process hassle free and smooth.
• You can track your loans, EMIs and payments seamlessly with iMobile.

Yes, ICICI Bank EMI @ UPI is a loan-based facility and does not require a credit card.

Yes, ICICI Bank EMI @ UPI can be used for eligible online transactions and QR-based merchant payments only.

Yes, ICICI Bank EMI @ UPI is available round the clock.

Eligibility is based on ICICI Bank’s internal credit assessment and customer profile.

Yes, the facility is available only for transactions with the amount of Rs 10,000 and above.

Yes, maximum transaction limit is Rs 100,000 as per the customer’s eligibility.

No separate documentation is required. The facility is offered digitally in iMobile application to eligible customers

Currently, no processing fee is charged unless explicitly mentioned during the transaction.

At present there is fixed 18% annual interest and no processing fees, bounce charges.

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’ dashboard on or after your due date.

We offer the flexibility to repay through UPI and NEFT towards your EMI@UPI Loan account number and also payment can be done through any TPAP (Third Party Application) like Gpay, Phonepe, etc. in UPI id – ifinpay.12DigitEMI@UPIAccountNumber@icici

EMI is calculated based on the transaction amount, interest rate, and selected tenure.

Available tenure options are 3,6,9,12 and 36 months.

No, changes are not permitted.

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.

You can immediately, call on our customer care number at – 1800 1080.

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 based on changes by RBI

Loan details can be viewed through ICICI Bank’s iMobile application. Below is the navigation path –

Login to ICICI Bank's iMobile application > Click on Loans & More in the home page > Click on EMI @ UPI option.

Yes, statements can be downloaded digitally through iMobile application.

Certainly! You have the flexibility to open upto five 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.

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 or you can visit nearest ICICI Bank Branch.

Alternatively, you can place account closure request through iMobile application also.

Below is the Loan closure path available in iMobile application –

Login to iMobile > Loan & More > EMI@UPI dashboard > More options > Foreclosure > Select loan account number > Review loan foreclosure request > Submit.

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.

Requests can be raised via calling customer care at 1800 1080 or by visiting nearest ICICI Bank Branch.

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 repayment. You can try the transaction again after some time 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 /customer-care

Yes, foreclosure is allowed and you can raise requests through Customer Care, ICICI Bank Branch and by Login to ICICI Bank's iMobile application > EMI @ UPI dashboard > Foreclosure > Select loan account number > Review loan foreclosure requests > Confirm.

No, foreclosure charges are not applicable.

Yes, repayment behaviour may influence future eligibility.