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Most Important Terms and Conditions (MITC)

To get the complete version of the Terms and Conditions of EMI @ UPI by ICICI Bank, please visit:

(a) Schedule of Charges:

I. There are no annual fees and supplementary fees associated with the EMI @ UPI facility. ICICI Bank Limited at its sole discretion reserves the right to apply / introduce such charges in the future in relation to EMI @ UPI by ICICI Bank, with due reasonable notice.

II. Usage

EMI @ UPI by ICICI Bank can only be used to make online INR denominated purchases via the Scan to Pay facility on iMobile Pay and on selected Merchant categories, where the availability of EMI @ UPI by ICICI Bank facility shall be indicated by iMobile Pay. 

III. Approved Limits

Credit limit: The credit limit for the EMI @ UPI facility is as per the Consumer Durable limit available to the customer. This limit can be changed at ICICI Bank’s discretion from time to time. 


Rate of interest: 18% p.a.

Product type: Fixed EMI-based credit facility

  • EMI-based repayment shall be available for EMI @ UPI transactions initiated through payment modes like UPI Scan to Pay. The transaction threshold for conversion to EMI shall be Rs 6,000. All transactions over and above the threshold amount may be repaid in easy instalments ranging from 3 to 60 months.

  • Note: If you are booking your EMI @ UPI facility on 01st to 10th of a month, your first instalment due date shall be on the 01st of the next month and in case the EMI @ UPI facility is booked from 11th to last day of a month, instalment due date shall be 01st of next to next month.

  • Example: If you book an EMI @ UPI loan between Jan 1 and Jan 10 – your first EMI shall be due on Feb 1; however, if you book an EMI @ UPI loan between 11th and the last day of the month, your first EMI shall be due on Mar 1.

  • Auto Debit for EMI Account shall be set up in the Savings Bank Account, which has been registered with your current EMI @ UPI by ICICI Bank Account.

  • EMI value displayed during EMI @ UPI transaction is approximate and the actual EMI amount may vary. Actual EMI amount can be accessed by logging into the Loans section on iMobile Pay by ICICI Bank.

  • A EMI @ UPI Account shall be created under the credit limit set for your pre-approved Consumer Finance offer and will be modified as the customer avails another EMI facility.

*The below mentioned charges will be levied on the outstanding amount in case an EMI @ UPI Customer(s) defaults of their EMI Payments:

Default Charge

Penal Charges – Nil

V. Grievances Redressal / Complaints / Escalations:

  • All notices, requests, demands, waivers, complaints, queries, grievance redressal, escalations, and other communications required or permitted to be given hereunder, in relation to EMI @ UPI by ICICI Bank, shall be submitted to ICICI Bank at:

  • Customer Care number: 1860 120 7777 or write to us.

  • Link for raising a complaint:

  • In the event that you are not satisfied with our services, you may escalate by writing to Ms Sharlet Malvankar, Principal Nodal Officer, ICICI Bank Limited, Bandra Kurla Complex, Mumbai, India – 400 051. In all your communications with us, please mention your complete EMI @ UPI number.

  • E-mail ID: Telephone No.: 022-39337979

  • Complete Postal Address of the Bank: ICICI Bank Limited, Bandra Kurla Complex, Mumbai, 400051, India

  • Toll-free Number for Grievance Redressal: In the event that you are not satisfied with our services, you may register your grievance by dialing our Toll-Free Number 1800 200 3344 between 09:00 a.m. and 06:00 p.m. from Monday to Friday, press 1 and then enter the Service Request Number (numeric digits only), which should not be more than 2 months old.

  • EMI @ UPI Customers can go through the below link, which describes in detail the grievances and escalation process along with timelines for redressal:


Compensation Policy:

  • The limiting liability of an EMI @ UPI Customer in unauthorised transactions electronic banking transactions are mentioned in the below link.

  • EMI @ UPI Account not closed within 7 days from the date of Service Request will be charged a penalty of Rs 500 per day, until the closure of the account, provided there is no outstanding in the EMI @ UPI by ICICI Bank Account. Customer-Relations-Policy.pdf (

VI. Default and Circumstances:

  • If the EMI @ UPI Customer(s) fails to pay the Total Amount Due by the Payment Due Date, it shall be treated as a default. In case of default, ICICI Bank can forward the default report to the Credit Bureaus or to other agencies, as may be authorised under law.

  • A EMI @ UPI Customer(s) who fails to pay the Total Amount Due by the Payment Due Date, shall be given 7 days notice period post informing by SMS or notification from iMobile Pay app, about the intention to report him / her as a defaulter to Credit Information Bureaus. A customer who pays within 7 days, will not be reported to Credit Information Bureaus as a ‘defaulter’.

  • *ICICI Bank submits the data of the EMI @ UPI by ICICI Bank Pockets, iMobile Pay and Retail Internet Banking Customers to any Credit Bureau, every month.

  • Procedure for withdrawal of default report and the period within which the default report would be withdrawn after the settlement of dues: *The Bank submits the EMI @ UPI Customer’s data to CIBIL - Credit Information Bureau (India) Limited, every month in the format prescribed by CIBIL. This data includes the repayment status of all EMI @ UPI Customers, both defaulters and current, for the previous month. CIBIL uploads the submitted data onto their server in another 30 days.

  • Recovery of dues in case of death / permanent incapacitation of the EMI @ UPI Customer(s) shall be in accordance with the Applicable Laws, after giving sufficient notice for the repayment of the Total Amount Due and any other information to the successors / nominees / legal heirs of the EMI @ UPI Customer(s).

VII. Loss / Theft / Misuse of Phone / EMI @ UPI facility:

  • In case of loss / theft / misuse of the phone / EMI @ UPI facility of the EMI @ UPI Customer(s), it must be reported immediately to ICICI Bank through ICICI Bank’s Customer Care (1860 120 7777) or e-mail ID ( upon which ICICI Bank shall suspend the EMI @ UPI by ICICI Bank Facility. The EMI @ UPI Customer(s) are advised to file an FIR with the local police station so that the EMI @ UPI Customer(s) can produce its copy, whenever requested, by the Customer Care executive.

  • The EMI @ UPI Customer(s) shall be primarily responsible for the security of the EMI @ UPI by ICICI Bank facility, including theft and for the transactions using EMI @ UPI on the Customer’s phone, whether authorised or unauthorised.

  • In case of any dispute regarding the time of reporting, such loss / theft / damage and / or transactions initiated through the EMI @ UPI by ICICI Bank facility post reporting of the loss / theft / damage / misuse, ICICI Bank reserves the right to ascertain such time and / or the authenticity of the disputed transactions. ICICI Bank reserves the right to block the EMI @ UPI by ICICI Bank facility on the suspected risk of compromise in order to protect the interests of the EMI @ UPI Customer(s).

 VIII. Disclosure

  • ICICI Bank shall be absolutely entitled to disclose any information relating to the EMI @ UPI Customer (including personal information), details in relation to loans, defaults, obligations to any governmental / regulatory / statutory body, or private agency / entity, Credit Bureau(s), ICICI Bank’s other Branches / Subsidiaries / Affiliates / Group companies, Service providers, other banks / financial institutions and / or any third parties, through a written or oral communication, including paper publication (with or without photographs) or as required under the Applicable Law, for KYC information verification, credit risk analysis and / or for continuing to provide various products and services to the EMI @ UPI Customer. In this connection, the EMI @ UPI Customer waives the privilege of privacy and privity of contract. CIBIL and / or any other agency so authorised, may use and / or process the above information and data disclosed by ICICI Bank, in any manner as deemed fit by them.

  • The EMI @ UPI Customer(s) hereby gives specific consent to ICICI Bank for submitting / disclosing the ‘financial information’ as defined in Section 3(13) of the Insolvency and Bankruptcy Code, 2016 (IBC), with respect to the EMI @ UPI Facility by ICICI Bank availed by the EMI @ UPI Customer(s), from time to time to Information Utilities as defined in Section 3(21) of the IBC. The EMI @ UPI Customer agrees and undertakes that it shall promptly authenticate ‘financial information’ submitted by ICICI Bank, as and when requested by the Information Utilities.

  • In case the EMI @ UPI Customer(s) commits any default in payment or repayment of the principal amount of EMI @ UPI by ICICI Bank or interest / charges due thereon, ICICI Bank and / or RBI will have an unqualified right to disclose or publish the details of such default, along with the name of the EMI @ UPI Customer as defaulters in such manner and through such media as ICICI Bank and / or RBI may, in their absolute discretion, think fit.

  • The EMI @ UPI Customer(s) authorises ICICI Bank, its group companies and their agents to exchange, share or part with all the information and details relating to the EMI @ UPI Customer’s existing loans and / or repayment history to other ICICI Bank group companies, banks, financial institutions, credit bureaus, agencies, statutory bodies etc., as may be required or as they may deem fit and shall not hold ICICI Bank (or any of its group companies or its / their / agents / representatives) liable for use / sharing of this information.