ICICI Loan on Credit Card

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.

• The ICICI Bank credit card should be in the customer’s name.
• A personal loan is offered on the basis of the bank’s credit card usage. The terms and condition may vary according to the internal policies of the bank.
• The credit card account should have the request balance required for loan approval.

Its simple application process requires you to:

• Call the customer care department  1800 102 4242 from your registered mobile number between 9 a.m. to 6 p.m. from Monday to Friday and forward your request for Balance Transfer, EMI or personal loan.
• Or, you can log on to ICICI Bank Internet Banking with your Username and Password and get your payments converted to EMI. You can further track the amount deducted through your credit card statements, where the amount is displayed as ‘easy EMI’.
• You can even directly visit the bank branch fill the application form for loans on credit card
• The application form can also be filled online here.

• Easy and quick processing
• Save on higher interest payment to other banks
• Tenure option of 3, 6, 9, 12, 18 and 24 months available
• No documentation or guarantor required
• Over 250+ brands available on Instant EMI
• No processing fee

What is the Repayment Process
The simple repayment process required you to pay the outstanding balance as mentioned on your ICICI credit card statement or the Minimum Amount Due before the given due date. The statement will include billing of EMI amount, education cess and service tax beginning from the immediate billing cycle date. Remember to pay the minimum amount for smooth usage of the card.