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Why is ICICI Bank discontinuing the PayLater facility?
ICICI Bank is discontinuing the PayLater facility as per its internal policy revisions from 8th May 2025 11:59 P.M. IST
.When will PayLater transactions stop?
You will not be able to carry out any transactions using PayLater from 8th May 2025 11:59 P.M. IST
What will happen to my pending dues?
All outstanding dues must be cleared as per the existing repayment schedule, either through Auto Debit or the iMobile app/Retail Internet Banking. Late payments will attract penalties, as per the PayLater Terms & Conditions. Post clearance of all the dues, the Bank will close your PayLater Account.
What will happen to the Auto Pay transactions linked to my PayLater facility?
All Auto Pay transactions linked to your PayLater Account will be disabled from 8th May 2025 11:59 P.M. IST Please update your payment method at the earliest, for uninterrupted services.
How can I check my outstanding PayLater Account balance?
You can check your outstanding balance in the PayLater section of the iMobile app or Retail Internet Banking.
Will this impact my credit score?
There will be no impact on your credit score, if you clear all outstanding dues on time. Delayed payments may affect your credit history.
Who can I contact for further assistance?
For any queries/assistance, please contact our Customer Care at 1800 1080.
What happens if I do not clear my PayLater dues?
Failure to repay dues may lead to penalties and could be reported to credit bureaus, affecting your credit score.
What is ICICI Bank PayLater facility?
ICICI Bank PayLater is a Credit Line on UPI. Customers can check their offer eligibility under ‘Get Instant Loans/ Offers’ section on iMobile Pay. Customers can also check the eligible offers through Net Banking in the ‘Offers’ section and avail the required offers in just one click.
How can I get the PayLater facility?
Customers can check their eligibility in iMobile/Internet banking through below paths
iMobile Pay > Get Instant Loans/ Offers’ > PayLater > Activate Now
Internet Banking > Log in > Apply Online > Offers for you > PayLater > Activate Now
What is the limit offered in ICICI Bank PayLater?
The limit of your PayLater Account can range between Rs 7,500 to 2,00,000, based on your eligibility. The limit is already set for the customers to whom the invite is sent.
How to link the ICICI Bank PayLater Account to UPI payment apps such as BHIM?
Go to settings/profile of the UPI app > Add Credit Line on UPI > Select ICICI Bank > Authenticate and it is done!
Your ICICI Bank PayLater Account will be added as a payment option. You can transact for all your merchant needs like shopping, bill payments, recharge etc.
*applicable only for customers with ICICI Bank Savings Account. For others this feature will be released soon.
How to use ICICI Bank PayLater – Credit Line on UPI?
Customers can use it through iMobile Pay or any UPI payment app:
UPI
Scan and Pay mode*
Collect: Add the UPI ID for making online payments.
PayLater is also available for ICICI Bank Internet Banking transactions.
What is my PayLater VPA/UPI ID?
Every PayLater Account created through the iMobile Pay app has a unique PayLater VPA (e.g. pl.XXXXXXXXXX@icici). You can check your PayLater UPI ID in the PayLater section of iMobile Pay.
PayLater Account used through other UPI apps will have different PayLater VPA IDs. Please check the VPA ID in the app’s settings/profile section against your ICICI Bank Credit Line on UPI.
It can be used to make various UPI payments such as online shopping, mobile recharge, flight/train/bus/taxi bookings etc.
Where can I use the PayLater UPI ID for payments?
Payments to all the merchant QR codes can be made through UPI Scan and Pay. Online merchant payments can also be made by adding PayLater UPI ID as a payment option (UPI Collect request).
Can I avail multiple PayLater Accounts?
No, only one PayLater Account is offered to each customer.
Are there any charges/fees applicable for using PayLater?
Please refer the PayLater MITC section to know more about the charges.
Visit icicibank.com > MITC Digital Credit
How can I repay my PayLater dues?
You can pay through the below methods:
‘Pay Dues’ option available in the PayLater section of iMobile Pay.
Make UPI payment to ifinpay.12DigitPayLaterAccNo@icici (Check PayLater account number in the PayLater section of iMobile Pay)
ICICI Bank Internet Banking > Accounts > PayLater > Pay Now
NEFT/IMPS towards your PayLater Account (Account number can be seen in PayLater section of iMobile Pay or ICICI Bank Internet Banking).
If any amount is due on the due date of your ICICI Bank PayLater Account, the same will be deducted from your linked Savings Account/E-NACH.
Is there a limit on the maximum number of transactions that can be made with ICICI Bank PayLater Account?
For a newly activated UPI, the transactions made in the first <24> hours cannot exceed Rs <5,000>. All the restrictions associated with UPI are also applicable for ICICI Bank PayLater Account. At any point you cannot transact for the amount which is exceeding the sanctioned limit without repayment.
How to check if I have the PayLater offer?
Eligible customers can check the PayLater offer through iMobile Pay or Internet Banking:
iMobile Pay > Log in > Get Instant Loans/ Offers’ > PayLater
Internet Banking > Log in > Apply Online > Offers for you > PayLater
*If the offer is not available, please continue to bank with us to unlock the offer soon.
Are there any additional charges for making UPI transactions using ICICI Bank PayLater – Credit Line on UPI?
Please refer the PayLater MITC section to know more about the charges.
Visit icicibank.com > MITC Digital Credit.
What happens if I do not use the full ICICI Bank Credit Line PayLater limit?
There are no charges for not utilising the complete PayLater Credit Limit. Customers can utilise the limit as per their discretion.
Where can’t the ICICI Bank Credit Line PayLater be used?
PayLater cannot be used for repayment of dues of credit instruments (Credit Cards, Loans, etc), investments, gambling, betting, lotteries, Central Bank Digital Currency (CBDC) wallet loading, cash withdrawal, account opening fee, security brokers and person-to-person fund transfers.
Can I use the PayLater UPI ID to transfer money to an individual UPI ID?
No. PayLater UPI ID can be used only for the merchant UPI ID payments and not for payments to any P2P (Peer to Peer) UPI transactions.
How to add money from PayLater to Paytm wallet?
You may add money to the merchant wallet using UPI payment option. Please check with the merchant for the procedure to add funds in their wallet.
I have transferred funds to a PayLater Account. However, the amount is not reflecting in the PayLater Account.
Please check the statement of your PayLater Account to know the payment status. If the amount is not reflecting in the statement even after <72> working hours, please call our Customer Care between <7:00> <a.m.> and <9:00> <p.m.>.
To know more, visit <https://www.icicibank.com/customer-care>
How do I increase the PayLater Account limit?
PayLater Accounts are reviewed periodically by the Bank and the sanctioned limit may change from time to time. Please keep using the iMobile Pay app. The Bank will send a notification once you are eligible.
To know more, visit https://www.icicibank.com/personal-panking/paylater
Do all shopping malls have PayLater VPA option?
PayLater option is visible during a shopping mall transaction.
PayLater VPA can be used only on the UPI enabled online/offline shopping malls except for the payments made for gold purchases and some other restricted merchants where credit option is restricted.
To know more, visit <https://www.icicibank.com/Personal-Banking/paylater>
What happens if someone fails to pay their PayLater bills on time?
If dues are not paid within the due date, default charges and interest will be levied to the customers.
Please refer the PayLater MITC section to know more about charges.
Visit icicibank.com > MITC Digital Credit.
Why is my PayLater Account locked?
PayLater Account gets locked when dues are not paid by the due date. After payment of dues, your PayLater Account gets unlocked on the next working day. If you are still unable to use the PayLater Account, please call our Customer Care.
Do I need to do KYC?
Customers with ICICI Bank Savings Account do not require any KYC. Customers without ICICI Bank Savings Account need to complete KYC for availing PayLater.
Do I need to fill any form?
ICICI Bank Savings Account holders need not fill any physical form. Customers who do not have ICICI Bank Savings Account will have to fill in some details to complete their KYC. The entire process is digital.
I do not have an ICICI Bank Savings Account. Can I open a PayLater Account?
Yes.You can check your eligibility at https://buy.icicibank.com/ucj/PayLater/mobile?ius=IS83006US&iup=PANTB1000467. If you are eligible, all you have to do is set up your repayment facility (E-NACH) and complete your KYC from the comfort of your home.
What is repayment mandate/auto debit set up?
We set up a mandate with your Savings Account of any bank to collect your PayLater dues on the due date. You can prepay using any of the below methods:
UPI payment to PayLater UPI
Pay dues option available in the PayLater section of iMobile Pay
NEFT/IMPS to your PayLater Account
Account number and UPI ID details are shown in the PayLater section of iMobile Pay.
What details do I need to set up a repayment mandate?
If you have an ICICI Bank Savings Account, you can select the Savings Account number for repayment while activating PayLater or set up an auto debit facility through iMobile Pay.
Customers who do not hold ICICI Bank Savings Account, will need to set up a mandate with other bank’s Savings Account. Check how to set up a mandate on NPCI (National Payments Corporation of India) website for more information.
My KYC is not complete, can I get a PayLater Account?
If you have an ICICI Bank Savings Account, visit your nearest branch and update your KYC details to experience uninterrupted services.
If you do not have ICICI Bank Savings Account, visit <https://buy.icicibank.com/ucj/PayLater/mobile?ius=IS83006US&iup=PANTB1000467> to open the PayLater Account and complete your KYC.
Who can avail the PayLater EMI facility?
Customers with PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit!
*applicable only for transactions of more than Rs 10,000.
What is PayLater EMI?
PayLater EMI is a loan linked with your PayLater credit limit. Customers with PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit
*applicable only for transactions of more than Rs 10,000.
How will I receive my loan details?
Customers will receive an SMS and e-mail on their registered contact details on the next working day containing the repayment schedule and other details.
What is the bill cycle for PayLater EMIs?
PayLater EMI Loans booked between 1st to 20th of a month will have the first EMI due date as 1st of the next month. PayLater EMI Loans booked between 21st to the last day of a month will have the EMI due date as 1st of next to next month.
Example: If you book a PayLater EMI Loan between 1st to 20th Jan, your first EMI will be due on 1st Feb. If you book a PayLater EMI Loan between 21st Jan till 31st Jan, your first EMI will be due on 1st March.
What is the interest rate for PayLater EMI?
Please refer the below MITC link for charges and interest on PayLater EMI.
https://www.icicibank.com/personal-banking/cards/digital-credit-card/mitc-paylater-tnc
Where can I use the PayLater EMI?
Customers with a PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit
*applicable only for transactions of more than Rs <10,000>
*available only on iMobile Pay app
How is PayLater EMI different from other loans?
PayLater EMI is a loan within your PayLater limit. You will pay interest only on the amount availed under this facility and not on the total PayLater limit.
Where can I see my PayLater EMI Loan Accounts?
iMobile Pay > Log in > PayLater > My EMIs & Statements > My PayLater EMIs > View all active loans
Internet Banking > Log in > Bank Accounts > PayLater > View all active loans
Can I pay before the due date or foreclose my PayLater EMI Loan Account?
Customers can contact our Phone Banking Team for the foreclosure of PayLater EMI Loan Account.
How to pay the dues of PayLater EMI Loan?
Payment options:
1. iMobile Pay app:
iMobile Pay > Log in > PayLater > My EMIs & Statements > My PayLater EMIs > View all active loans > Pending EMI > Pay dues
Internet Banking > Log in > Bank Accounts > PayLater > View all active loans > Pay dues
Important Note: Payment of the due amount against PayLater Account will not be settled in the EMI Loan Accounts
Will payments to a PayLater Account be settled in a PayLater EMI Loan Account?
PayLater EMI is a separate Loan Account linked to PayLater. Separate payment will be required for each Loan Account. Payment of due amount against PayLater Account will not be settled in EMI Loan Accounts.
My transaction has failed but the Loan Account is created? How many days will it take for the closure of the Loan Account?
In case of a failed transaction, the Loan Account will be closed within <7> working days.
What if I do not pay my PayLater EMI dues?
Such defaults will be reported to the Credit Bureau. Default charges and interest will be applicable on the outstanding amount every month.
How do I close my PayLater Account?
PayLater Customers may discontinue/terminate PayLater by ICICI Bank by raising a request on the ICICI Bank Platform. On raising the request, PayLater Customers will be liable to pay the Total Amount Due and all such other charges, whether or not already reflected in the Account Statement
Customers can close the PayLater Account from the channels mentioned below -
- Customer care number: 18001080
- Customer care Email ID: customer.care@icicibank.com
- iMobile Pay application path: PayLater ->More options ->Request for account closure -> Select “reason for closure” and submit
