Terms & Conditions

Terms and conditions relating to EMI on Call on ICICI Bank Credit Cards

"Card" means credit card which has been issued by ICICI Bank and is valid and subsisting at the time when the facility is requested by the card member.

"EMI" or "Equated Monthly Installment" (EMI) means the equated monthly installments of amounts payable by the card member to ICICI Bank in respect of the facility and comprising principal amount of the Facility and interest thereon.

"Facility" or "EMI on Call" means choosing to pay for retail transactions made on ICICI Bank credit card in Installments and is provided / agreed to be provided by ICICI Bank, at its sole discretion, to the card member to the extent of amounts not exceeding the available cash-limit / credit-limit.

"Primary Terms and conditions" shall mean the terms and conditions applicable to the card.

The card member can request for an option of paying for his retail transaction, in installments. The final approval of the Facility to be granted is subject to the performance on the card member's credit card and the available cash-limit and/or credit-Limit available or over the credit limit at the time ICICI Bank receives the card member's request for the facility and the value of the transaction. The bank has the final decision to either approve or reject the request for conversion. The cash-limit and/or the credit-limit on the credit card will be blocked by the amount for which the Facility is granted. The card member shall be required to pay a non-refundable processing fee on the facility up to the percentage specified by ICICI Bank to the card member.

The card member shall repay the facility and interest thereon in EMIs. The interest shall be at such rate which has been indicated by ICICI Bank to the card member at the time of making the offer for the facility and as also as communicated to the card member. The interest calculation will start from the time the transaction has been booked for the facility. The amount of the EMIs together with other details of the Facility (including rate of interest) shall be also communicated to the card member at his/her mailing address.

The amount of EMI due for a particular month shall subsequently be reflected in the credit card statement of account (the “Statement”) of that particular month. The card member hereby authorises ICICI Bank to debit the card account of the card member on a monthly basis for the amount of EMI due for that particular month, as has been intimated to the card member through the statement. Principal and interest will be mentioned separately in the Statement. The card member shall make payment of the EMI and all other charges by way of cash, cheque, draft, through internet, or payment instructions, to ICICI Bank and the cash limit / credit limit shall be reinstated to the extent of the amount of EMI repaid by the card member.
The card member shall be required to pay the entire amount of the EMI for a particular month on the due date, as indicated in the statement and the same shall not be permitted to be carried forward/included in the next statement. In the event the payment is not made by the due date as specified, it shall be construed as a default by the card member and card member shall become liable to pay the amount together with late payment charges.

The card member may close the facility (prepayment of the outstanding amount) at any time by contacting ICICI Bank's Customer Care to avail of the foreclosure. The card member necessary has to call up the call centre for complete prepayment of the facility. A prepayment fee as applicable shall be chargeable. ICICI Bank shall, without prejudice to all rights and remedies, have the right to call upon the card member to forthwith repay the Facility, all interest thereon and all other monies in respect of the facility upon occurrence of event of default in payment of EMI for more than two consecutive months and the card member shall be liable to repay all such amounts upon such demand.

The card member may cancel the facility within 15 days of receiving the welcome letter. The customer can request for a cancellation at the customer care. In the case of cancellation, the original transaction amount which was converted into EMI shall be debited back to the customer account and all charges relating to such EMI conversion shall be reversed, but only if the card member has called up within 15 days from the dispatch of the welcome letter.


  • The card member has understood ICICI Bank's method of calculating EMIs payable.
  • The card member has understood that by availing the facility, the card member shall not be, unless otherwise stated by ICICI Bank in writing, eligible for any reward points whatsoever, whether awarded under the ICICI Bank Reward Points Scheme or any other reward points scheme on the card that may be announced by ICICI Bank from time to time.
  • The card member shall renew the card forthwith in the event the period of the card expires during the tenure of the facility. In the event of failure of the card member to renew the card as stated above, ICICI Bank shall be entitled to call upon the card member to forthwith repay the facility without prejudice to all rights and remedies against the card member.
  • The card member shall notify ICICI Bank, in writing, of any change in the card member's address within a week of such change.
  • The card member is deemed to have accepted these terms and conditions upon the card member having requested for the facility.
  • Repayment by the card member of the entire amount of the facility to ICICI Bank shall release the credit limit and/or cash limit for which the card member is eligible by virtue of holding the card.
  • The card member shall make payment of all taxes, duties, levies (including service tax) in connection with the facility.

ICICI Bank reserves the right to require the card member to make advance payment of one or more EMIs against grant of the facility, and ICICI Bank shall have the right to adjust the amount of the advance EMIs towards the balance amount of the facility, at its sole discretion

If one or more of the events specified in this Clause ("Events of Default") occur or shall have occurred, ICICI Bank may foreclose the facility by a notice in writing to the card member.

  • The card member's commission of a breach of any of the terms and conditions along with covenants herein contained or having made any misrepresentation to ICICI Bank.
  • The card member’s having been declared as an insolvent.
  • Any proceedings for misconduct having been initiated against the card member.
  • The card member’s failure to furnish any information or documents that may be required by ICICI Bank.
  • The card member’s entering into any composition with his/her creditors. 
  • The card member’s defaulting on any of the terms and conditions of any other loan or facility provided by ICICI Bank to the card member.
  • The existence of any other circumstances which, in the sole opinion of ICICI Bank, jeopardise ICICI Bank's interest.

Upon the occurrence of any event of default as specified above, ICICI Bank shall be entitled to exercise rights and remedies available to it under these terms and conditions as also the primary terms and conditions.