There are four types of loans offered on credit cards.
- EMI On Call
It allows you to convert the purchase of Rs 3000 and above into EMI of 3,6,9 or 12 months, saving on higher credit card interest.
- Instant EMI
Being an ICICI card holder, you can get the amount of online transaction can be converted into easy EMIs. It offers lower interest rate of 13% (on reducing basis) for 3, 6, 9 and 12 month EMI option and 15% (on reducing basis) for 18 and 24 month Instant EMI option.
- Personal Loan
Based on the credit card holder’s spending habit, transaction pattern and payment history, ICICI Bank offers personal loan to the customer. It allows you to have a loan of up to Rs 5lacs for 60 months. The loan amount will be credited to your ICICI Bank savings account or transferred via NEFT or Demand Draft if you don’t have an ICICI account.
- Balance Transfer
Transfer the outstanding amount on your other Bank’s credit card to ICICI Bank credit card via Balance Transfer option and save on the interest amount to be paid.