Most Important Terms and Conditions (MITCs) For Credit Cards
(a)Fees and Charges
Joining, Annual and Renewal Fees: NIL for both the Primary Cardholder and the Supplementary (Add-on) Cardholder unless indicated by ICICI Bank.
Schedule of Charges
| Cash Advance - Transaction fees |
2.50% on advanced amount, subject to a minimum of Rs.300 |
| On Easy Deposit Card - Nil for ICICI Bank ATM withdrawals. |
| Dial a draft – Transaction Fee |
3% of the draft value amount subject to a minimum of Rs.300. |
| Late Payment Charges |
30% of minimum amount outstanding (subject to min. of Rs. 350 and max. of Rs. 600 )
30% of minimum amount outstanding (subject to min Rs. 400 & max Rs. 600) w.e.f. June 1, 2008 |
| Over Limit Charges |
2.5% on over limit amount (subject to a min. of Rs. 500). |
| Return of Cheque |
Rs. 250 |
| Outstation Cheque processing fee |
1% on the Cheque value, subject to a minimum of Rs. 100. |
| Railway Booking - surcharge |
1.80% for Internet transactions and 2.5% for other bookings. |
| Fuel Surcharge |
2.5% or Rs.10 whichever is higher (Nil on selected cards). |
| 0% at select HPCL pumps on select cards (max of Rs.3000 per transaction). |
| Services charges - Utility Bill Payment |
Nil |
| Foreign Currency Transactions |
3.50% |
| Card Replacement Fee |
Rs 100 (w.e.f June 1, 2008) |
| Fee on Cash payment at Branches |
Rs 100 (w.e.f June 1, 2008) |
| Service Tax |
As may be applicable from time to time, presently @ 12.36% (Applicable on all fees, interest and other charges only) |
Finance Charges (hereinafter referred to as “Interest Charge/s”):
i)The rate of interest is initially 3.40% p.m. (49.36% annualised) for all blue, silver and gold cards and 3.15% p.m. (45.09% annualised) for platinum and titanium cards, effective June 1, 2008. It may Increase up to a maximum of 3.40% pm. (49.36% annualised) in case of default.
ii)In case of default, Interest Charges may increase up to a maximum of 3.40% p.m. (49.36% annualized) or it may go as low as 1.25% p.m. (16.08% annualized).
iii) Easy Deposit Card, Spouse Card, Platinum Identity Card, Signature Card, EMI Card and Home Card have a different interest charges. Refer www.icicibank.com for details
Interest Free (Grace) Period
Oct 15 ------------------------------Nov 10-------Nov15----------------------------Dec7
purchase of furniture worth Rs 2,000 on Nov 10
for this particular customer is Oct 16 to Nov 15. All the transactions between these dates will be added and billed on Nov. 15. Therefore, the billing cycle is a one-month period during which all transactions on the credit card are billed on the last date of the billing cycle. Statement Date: Nov. 15 is the statement date for this customer. Therefore, the statement date is the date on which a customer’s bill is generated. In this case, it will include all transactions made up to Nov. 15. Interest-free Credit Period: In this case, the interest-free credit period that the customer can get is 27 days (Nov. 10 to Dec. 7). The interest-free credit period can vary from 20 days to 52 days, (The interest-free credit period can vary from 18 days to 48 days w.e.f. June 1, 2008) depending on the type of card and the date of the transaction.
(b) Drawal Limits:
i)Credit Limit: Maximum limit up to which the Cardholder can spend on the Card.
ii)Available credit limit: Difference between the Credit Limit and the amount spent on Card.
iii)Cash withdrawal limit: Maximum cash that the Cardholder can withdraw on the Card.
(c) Billing
iii)Billing Statements–periodicity and mode of sending: Credit Card billing statement shall be sent to the Cardholder on a monthly basis by post and/or by e-mail. iv)Minimum Amount Payable: 5% of the total amount due or such other amount as advised by the Bank in the Billing Statement. v)Method of payment: (i) By depositing cash at any ICICI Bank’s branches from 8 a.m to 6 p.m. (ii) drop cheque or draft favoring “ICICI Bank Credit Card No. XXXX XXXX XXXX XXXX” at any ICICI Bank branch/ATM/Skypak drop boxes. (iii) By online payment using ICICI Bank account; (iv) By giving auto-debit instructions. vi)Billing Dispute Resolution: The Cardholder shall intimate any disagreement(s) about the charges mentioned in the Billing Statement to the Bank within 60days from the Statement Date. Failing which it shall be construed that the billing Statement is in order. vii)Contact particulars of 24 hour call centers of card issuer: Ahmedabad-66309890, Andhrapradesh-9849578000, Assam-9954108000, Bangalore-41131877, Bihar&Jharkhand-9934008000, Chandigarh-5055700, Chattisgarh&Madhyapradesh-9893208000, Chennai-42088000, Cochin-9895478000, Coimbatore-4358000, Delhi–41718000/9818178000, Gujarat-9898278000, Haryana-9896178000, Himachal Pradesh-9816608000, Hyderabad-23128000, Indore-4022005, Jaipur-9829222292, Jammu&Kashmir-9906518000, Karnataka-9845578000, Kerala-9895478000, Kolkata-9831378000, Lucknow-9936218000, Maharashtra & Goa-9890478000, Mumbai-28307777, North East-9862408000, Orissa-9938488000, Pune-9890478000, Punjab-9815558000, Tamilnadu-9894478000, Uttarpradesh(West)-9897818000, Uttarpradesh(East)-9936218000, Uttaranchal-9897308000, West Bengal-9933008000, viii)Grievances Redressal Escalation – contact particulars of officers to be contacted: Mr.Harshil Mehta, Nodal Officer, ICICI Bank Ltd., Phone Banking Centre, .Banjara Hills, Hyderabad-500034, India. Please indicate your 16-digit credit card number in all your communications. ix)Complete postal address of card issuing bank: ICICI Bank Ltd, C-Serve, Phone Banking,5th Floor,Md ILLAYAS Khan Estate,Above Music World,Road No 1, Banjara Hills, Hyderabad 500034, India.
(d) Default and circumstances
i ) Procedure including notice period for reporting a cardholder as defaulter: If the Cardholder fails to pay the Minimum Amount Payable on or before the date mentioned in the Billing Statement, the same shall be treated as default. In case of default, the Bank can forward default report to the credit information bureaus or such other agencies, as approved by law. The notice period for reporting a cardholder as defaulter shall be the duration between the credit card Billing date and the payment due date mentioned in the Billing Statement.
ii) Procedure for withdrawal of default report and the period within which would be withdrawn after settlement of dues – Recovery care is taken to ensure that the default reports submitted after payment/settlement of dues, does not carry the name of the defaulting cardholder.
iii) Recovery procedure in case of default – Recovery procedure against the defaulting credit cardholder shall be in accordance with the applicable laws after giving sufficient notice for payment of dues & all information regarding the outstanding dues.
iv) Recovery of dues in case of death/permanent incapacitance of cardholder – It shall be in accordance with the applicable laws after giving sufficient notice for payment of dues & all information regarding the outstanding dues, including to the successors/nominees/legal heirs of the Cardholder.
v) -Available insurance cover for cardholder & date of activation of policy - Cardholders are advised and requested to go through the brochure provided in their welcome kit or refer to www.icicicibank.com".
(e) Termination / revocation of card membership
Procedure for surrender of card by card holder – due notice – Cardholder may at any time choose to terminate the Card Account with or without giving any prior notice. For avoiding misuse, it is advised to cut the Credit Card into four pieces ensuring that the hologram and magnetic stripe is destroyed p permanently. Intention to terminate the card membership shall be intimated to: “ICICI Bank Limited, ICICI Bank Phone Banking Centre, P. O. Box No. 20, Banjara Hills P.O., Hyderabad 500 034, India” by mentioning the 16 digit card number. On termination, all outstanding dues shall be payable forthwith and the cardholder shall be liable to pay applicable interest till such time all monies are paid to the Bank.
(f) Loss / theft / misuse of card:
Procedure to be followed in case of loss/theft/misuse of card – mode of intimation to card issuer - In case of loss/theft/misuse of card, the same must be reported within 24 hours to ICICI Bank Customer Call Centre. The Bank shall thereupon suspend the Card. The cardholder is advised to file FIR with the local police station so that the cardholder can produce a copy of the same whenever requested by the Bank.
Liability of cardholder in case of (i) above – Cardholder shall be held primarily responsible for the security of the Card and for the transactions using the Card. Cardholder shall not be liable for any transaction/s made on the Card post reporting its loss/ theft/ damage. However, in case of any dispute relating to the time of reporting such loss/ theft/ damage and/ or transaction/s made on the Card post reporting of the loss/ theft/ damage/ misuse, the Bank reserves the right to ascertain such time and/ or authenticity of the disputed transaction.
(g) DISCLOSURE
Type of information relating to cardholder to be disclosed with and without approval of cardholder – The Bank shall part with all available information about the cardholder, repayment history etc., to credit information bureaus or such other agencies approved by law. Note : Most Important Terms and Conditions & detailed Terms and conditions are available on www.icicibank.com in eleven Indian languages.
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Disclaimer:
*ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products
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