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Upon availing of this Facility, you will be deemed to have accepted the following clauses: ‘I understand, agree and accept that upon completing the payment by ICICI Bank EMI on Debit Card option, I am submitting a valid, eligible and approved EMI application to ICICI Bank governed by the terms provided under ‘Terms and Conditions for EMI conversion on Debit Card’. By completing the purchase through the EMI on Debit Card option, I will be deemed to have read, fully comprehended and accepted the ICICI Bank EMI on Debit Card Terms’
At any given point in time, you will be eligible to avail this Facility with an approved credit limit for purchase of products on the eligible Platform. The credit limit can range between ₹5,000 and ₹500,000 as per criteria defined by ICICI Bank policy
The price of the product purchased through the Facility along with applicable interest of 16% per annum (for Myntra, MakeMyTrip, Paytm, Pine Labs and their merchant outlets) will be repayable by you to the Bank in Equated Monthly Instalments (EMIs) over the EMI Term opted by you. ‘EMI Term’ means 3, 6, 9 and 12 months, as opted by you
Upon availing of this facility, a Virtual Credit Card (VCC) number will be assigned to customers. The VCC number assigned will be used for CIBIL related reporting
The Virtual Credit Card will remain open so that customer can avail the EMI on Debit Card Facility in future. The EMI on Debit Card account can only be closed post confirmation and verification from the customer by reaching out to the Customer Care at 1800 1080
The EMI amount gets auto debited between the 2nd and 7th of the month from the customer’s linked Savings Account. Customer needs to maintain sufficient balance from 2nd onwards
Customers do not have the option for part payment of EMI
Due date reminder alert will be sent to the customer’s registered Mobile Number, two days prior to the EMI due date
In case the customer cancels the purchased transaction completed through the facility, the loan is cancelled only once ICICI Bank receives the cancelation request from the merchant. Refunds will be processed as per ICICI Bank policies
Applicable processing fees will be charged for availing the facility by the Bank, which may be waived off during promotional events or campaigns
In No-cost EMI transactions, Bank will continue to charge interest and other charges, as per Bank's schedule of charges. Customers gets the No-cost EMI benefit in the form of cashback
No-cost EMI is being provided by the respective merchant and not by ICICI Bank. It may take up to 90 days for the cashback to be processed by the merchant. The cashback will be credited to the customer by ICICI Bank, only on receipt of the same from the merchant
All decisions regarding eligibility of the customer as decided by ICICI Bank are final.
- Bank shall not be liable for any technical errors occurring on the Platform. Similarly, merchant shall not be liable for any failure by Bank to extend the Facility to You/ process payments for any technical issues. For any issues regarding Debit EMI transactions, contact Bank’s Customer Care.
- Products sold on the Platform are subject to availability from the respective sellers and accordingly Bank or Merchant in no circumstances shall be liable for non-availability of any of the products.
- Bank does not endorse any of the products or brands being sold on the Platform and will not accept any liability pertaining to the quality, merchantability, fitness, delivery or after sales service of such products which shall be at the sole liability of the sellers on the Platform.
- Bank and Merchant reserve the right, at any time, without prior notice and without assigning any reason whatsoever, to add/ alter/ modify/ change or vary these T&C.
- Bank and Merchant reserve the right, at any time, without prior notice and without assigning any reason whatsoever, to withdraw the provision of this Facility to You.
- Pictures of products shown in the communication sent to customers, either through e-mailers or advertised on the Platform, are representative only and may not bear a resemblance to the actual products. None of the parties shall under any circumstances be responsible towards the same.
- You shall indemnify and hold Bank and/ or Merchant harmless against all damages, liabilities, costs, expenses, claims, suits and proceedings (including reasonable attorney’s fee) that may be suffered by the Bank and/ or Merchant as a consequence of (i) Your violation of these T&C, of the terms of user agreement or privacy policy (subject to change) as mentioned on the Platform; (ii) Your violation of applicable laws; and (iii) any action or inaction resulting in willful misconduct or negligence on Your part.
- All Government taxes/duties shall be payable by You.
- This document is an electronic record in terms of Information Technology Act, 2000, and the Rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
