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ICICI BANK LIMITED'S MOST IMPORTANT TERMS AND CONDITIONS

The Borrower confirms that the Borrower has read and understood the below Most Important Terms and Conditions displayed to the Borrower in the form of hyperlink during the application for the Facility and also attached herewith and undertakes to be bound by the same.

MOST IMPORTANT TERMS AND CONDITIONS (MITC)

Rates and Charges
*Penalty for Delayed Repayment : 24% p.a
*Cheque Bounce Charges : 400
*Auto Debit Bounce Charges : 50
*Repayment Mode Swap Charges: 500
# Prepayment Charges: 5% of principal Outstanding
* EMI paid in cash : 100
* Loan Cancellation Charges : 3000
*Cheque Pick-up Charges: 150
1.*Plus Applicable Taxes and other Statutory Levies if any.
2. Instances where in Disbursement is delayed the EMI amount may change accordingly.
3.# The pre-payment charges offer as specified shall only be applicable for closure of loan with own funds. In case of top-up loan or balance transfer, charges of 5% of Principal Outstanding shall be applicable
4. Prepayment of the loan is possible any time during loan tenure after payment of 12 or more EMIs.
5. Part Prepayment facility is not available in Personal Loan.

Notes:

GST and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges at the discretion of ICICI Bank ltd.

The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over this site.

Current GST applicable is 18.00% with effect from July 01, 2017.

ADDITIONAL STANDARD TERMS AND CONDITIONS APPLICABLE TO CUSTOMERS OF MAKEMYTRIP

  1. It is clarified that the booking/reservation made by the Borrower with the Alliance Partner on its platform or otherwise, is cancelled for any reason whatsoever, the Borrower shall continue to be bound by the Loan Terms and shall be bound to repay the Facility amount, along with the relevant interest and accrued charges. The obligation of the Borrower under the Loan Terms including but not limited to repayment is independent of cancellation of the booking/reservation made through the Alliance Partner using the Facility.
  2. ICICI Bank does not assume any liability towards the merchantability, suitability and availability of the products/services offered by the Alliance Partner and the Alliance Partner is solely and fully responsible for the same.
  3. In furtherance of the Borrower availing the Facility, ICICI Bank is hereby irrevocably authorised to debit the savings account of the Borrower maintained with ICICI Bank, the last four digits of which are shown to the Borrower at the time of availing the Facility, for the Installment amount/EMI Amount as mentioned in the MITC or such other amounts as may be specified in terms of the requirements of ICICI Bank, and credit the relevant account of ICICI Bank Ltd. over the entire tenure of the loan with effect from the date of disbursement of the loan till the time the entire Facility is repaid. This is an irrevocable authorisation to debit my account towards repayment of the loan.
  4. The loan amount availed by the Borrower/s from ICICI Bank shall be equivalent to the cost of the booking/package offered by the Alliance Partner and selected by the Borrower/s, along with the processing fees for the loan, as levied by ICICI Bank and convenience fees of Alliance Partner, if applicable . Further, the Borrower/s undertakes that such loan amount availed shall be utilized by the Borrower/s solely for the purpose of making payment to the Alliance Partner for the selected package/booking. Additionally, it is clarified that net loan amount to be credited to customer’s account will be equivalent to loan amount, minus processing fees.
  5. ICICI Bank does not assume any liability towards the merchantability, suitability and availability of the products/services offered by the Alliance Partner and the Alliance Partner is solely and fully responsible for the same.
  6. ICICI Bank shall not be liable in any manner whatsoever for any loss/ damage/ claim that may arise out of use or otherwise of any goods/ services / discount / gift vouchers availed by the Borrower/s from the Alliance Partner under any program/offer/alliance.
  7. ICICI Bank shall not be impleaded in any direct / indirect / consequential claims, actions, suits, proceedings, arising out of or resulting from:
    1. Non-performance or inadequate performance or provision of deficient services or breach by the Alliance Partner or its personnel of any of its obligations and,
    2. Acts, omissions, errors, representations, misrepresentations, misconduct, negligence of the Alliance Partner and/or its personnel in performance of its obligations.