Illustration

Eligible transactions using alternate modes of payments:

 

Sr. NoAlternate modesAcceptable TransactionsMinimum Thresh hold amount per month
1 Bill Pay – Payment made to any utility billers (Gas Bill, Electricity Bill, Telephone bill) using ICICI Bank Bill Pay services.
  • Payment through enrolled savings account only
  • Payment towards registered billers ( to know list of registered billers logon to ICICI Internet banking)
  • Payment through Quick Pay option using ICICI Bank iMobile app and/or Internet banking facility
  • Customer can register biller through ICICI Internet Banking or through branch. Ensure to register the biller in time as some billers may take upto 30 days for registration. To Know more Click here
  • Payment towards prepaid recharge and DTH recharge will not be considered.
  • Rs. 500*
  • *Amount debited from savings account towards multiple billers will also be considered. For e.g. Gas Bill of Rs. 200, Reliance Energy Bill of Rs. 400 Total amount considered will be Rs. 600
2 Standing Instruction for Recurring Deposit (RD)
  • SI has to be set up post enrollment date
  • Payment for recurring deposit installment from enrolled savings account through standing instruction
  • This will include the SI towards retail RD as well as the RD product offered in coordination with alliance partners.
  • Rs. 2,000
3 Standing Instruction (SI) Facility - SI is the debit instruction set by you in your savings account for fixed amount at a fixed frequency.
  • Recurring payments from enrolled savings account through SI towards contribution to PPF/SSY accounts and accounts outside ICICI Bank
  • SI has to be set up post enrollment date
  • SI set up for credits into savings account within ICICI Bank will not be considered
  • SI towards RD contribution will be considered under RD and not under SI
  • Rs. 500
4 Auto Debit Facility – Auto debit is the debit instruction provided by you to the beneficiary for debiting your ICICI Bank account.
  • Payment towards any of the below ICICI Bank/Group Company Products by debiting the enrolled savings account.
  • Loan EMIs
  • Credit Card payment
  • Rs. 2,000
5 Expression Debit Card
  • Expression debit card to be linked with the enrolled Savings account post Program start date.
  • All the E-commerce and POS transaction using the linked Expression debit card.
  • Rs. 2,000
6 Systematic Investment Plan Debit in Savings account towards Mutual fund SIP through any broker or any AMC. Rs. 2,000

 

  • Customer should have debit transaction in the enrolled savings account aggregating to Rs. 8,000 through any of the above 6 alternate mode as mentioned above. The debit transactions of Rs. 8,000/- should be done consistently for 6 months through the same 3 alternate modes. The minimum threshold amount defined against each mode has to be fulfilled.
  • iMobile activation in all months in addition to above criteria mentioned in point 5.
  • For customers who are already active on alternate modes even before they opted for the cashback Programme will have to undertake new transactions using defined alternate modes as per eligibility criteria mentioned above. For e.g. A customer who already has registered a SI has to set up a new SI post enrolment and make payment. Likewise a customer who already registered a biller before Programme enrolment date has to register a new biller post enrolment for making bill payment.
  • Similarly transactions done through existing Expression Debit Card (EDC) will not be considered. The EDC issuance has to be post the programme start date.
  • The debit criteria of Rs. 8,000 will be considered from M+2 month and continue till M+8 month where M being the month of account opening for new customers Customer need to register for the required mode of payments (alternate modes) to ensure that the debit transaction in savings account against each mode is enabled by M+2 month.

 

Illustration 1: (Assumption: customer doing the transaction in all six months)

 

ScenarioiMobile ActivePayment through Bill PayEcommerce Transaction through EDCAuto Debit FacilityFund transfer through Standing Instructions facilityStanding Instruction towards Recurring DepositSystematic Investment PlanAggregate Transaction AmountStatus
1 Yes Nil Rs. 2,000 Nil Rs. 5,000 Rs. 2,000 Nil Rs. 9,000 Eligible
2 No Rs. 2,000 Rs. 3,000 Rs. 5,000 Nil Nil Nil Rs. 10,000 Not Eligible
3 Yes Rs. 500 Rs. 2,000 Rs. 2,000 Rs. 2,000 Nil Nil Rs. 6,500 Not Eligible
4 Yes Rs. 2,000 Nil Rs. 2,000 Rs. 2,000 Nil Nil Rs. 8,000 Eligible

 

  • In Scenario 1: Customer has activated four alternate mode products including iMobile and also met the threshold amount hence “Eligible”
  • In Scenario 2: Though customer met threshold transaction amount through 3 alternate mode products but not activated his iMobile hence “Not eligible”
  • In Scenario 3: Customer has activated all five alternate mode products including iMobile but not met the threshold amount hence “Not eligible”
  • In Scenario 4: Customer has activated five alternate mode products including iMobile and also met the threshold amount hence “Eligible”

 

Illustration 2: (Assumption: customer doing transaction in all six months)

 

MonthiMobile ActivePayment through Bill PayEcommerce Transaction through EDCAuto Debit FacilityFund transfer through Standing Instructions facilityStanding Instruction towards Recurring DepositSystematic Investment PlanAggregate Transaction AmountStatus
M+2 Yes Nil Rs. 2,000 Nil Rs. 5,000 Rs. 2,000 Nil Rs. 9,000 Eligible
M+3 Yes Rs. 500 Rs. 2,000 Nil Rs. 5,000 Rs. 2,000 Nil Rs. 9,500 Eligible
M+4 Yes Nil Rs. 2,000 Nil Rs. 4,000 Rs. 2,000 Rs. 500 Rs. 8,500 Eligible
M+5 Yes Rs. 1,000 Rs. 3,000 Nil Rs. 4,000 Rs. 2,000 Nil Rs. 1,0000 Eligible
M+6 Yes Nil Rs. 2,000 Rs. 2,000 Rs. 2,000 Rs. 2,000 Nil Rs. 8,000 Eligible
M+7 Yes Nil Nil Nil Rs. 4,000 Rs. 2,000 Rs. 2,000 Rs. 8,000 Not Eligible
M+8 No Nil Rs 500 Nil Rs. 5,000 Rs. 2,000 Rs. 2,000 Rs. 9,500 Not Eligible

 

Above customer, though met the total threshold amount in M+7 month failed to qualify since he missed to activate same 3 alternate mode of payment criteria. He failed to activate E-commerce transaction through EDC.

  • There are certain payments which can be done through multiple modes like setting up SI or giving auto debit towards insurance premium payment. Customer need to be aware of the mode of payment selected by him to ensure he meets the required eligibility criteria (having 3 mode of payments).
  • If SI is set up towards payment to a registered Biller, the same will get considered only under Bill Pay.
  • This will be a one-time offer which a customer can avail only once. One customer can avail the offer only against one account during the Programme period.
  • Cashback will be credited in the savings account of the customer within 60 days after completion of the eligibility criteria of end of the offer period (i.e; 6 months)

Terms & Conditions: For detailed terms and condition click here