ICICI Bank Credit Card Loan

Get ICICI credit card loan online up to Rs. 20 Lakhs for tenure up to 60 months. The Personal Loan Interest Rates are competitive and range from 14.99% to 15.99% p.a. Minimum documentation required and funds are transferred to the customer's account within 3 to 4 working days.

Loan on ICICI Credit Cards

The loan against credit card ICICI is an added advantage and comes as a breather in times of acute financial crunch.

ICICI Bank offers four types of loans on Credit Card. These are:

EMI on Call

With the facility of converting any purchase above Rs. 3,000 on Credit Card to equated monthly instalment (EMI) you can take your shopping to a new level. You can choose to repay the amount in 3, 6, 9 or 12 EMIs. The EMI will be added to your Credit Card statement in the immediate next billing cycle. The EMI amount along with GST will appear with the minimum payment due mentioned in your card statement.

Instant EMI

For transactions done with the Credit Card online, you can opt for an instant EMI conversion wherever the option is available. ICICI Bank has a tie-up with several leading brands to ensure the best EMI deals. Now you can shop in full and pay in parts using the Instant EMI facility. Instant EMI facility gives you the advantage of hassle-free EMI conversion with flexible repayment tenure option. The EMI along with GST will be added to your Credit Card statement in the immediate next billing cycle.

PLCC

A Personal Loan on ICICI Bank Credit Card (PLCC) can be your saviour when you are in dire need of funds. A quick hassle-free ICICI Bank credit card loan which involves no documentation is provided by the bank. The loan amount will be credited to your savings account within no time. Loan against Credit Card is nothing but an instant unsecured personal loan on credit card ICICI.

Balance Transfer

The outstanding balance of Non-ICICI Bank Credit Card can be transferred to ICICI Bank Credit Card and paid in easy instalments. You can transfer a balance up to  3 Lakhs on other Credit Cards and pay in 3 and 6 instalments. You can save the interest outgo by availing this balance transfer facility.

Who Can Benefit by the Loan on ICICI Bank Credit Card?

An ICICI Bank Credit Cardholder who avails any one of the above-mentioned ICICI loan against credit card can enjoy the following benefits:

  • Saving on higher interest payment to other banks.
  • Flexible tenure option of 3, 6, 9, 12, 18 and 24 months.
  • Easy and quick processing.
  • No documentation, collateral security, or guarantor required.
  • Can shop for popular brands and avail Instant EMI facility. ICICI bank has a tie-up with leading brands to ensure the best EMI deals.
  • No processing fee applicable.

Eligibility for Loan on ICICI Bank Credit Card

The customers who satisfy the following criteria are eligible for a loan against ICICI credit card:

  • Should hold an ICICI Bank Credit Card.
  • Should have a good track record in respect of earlier Credit Card payments.
  • A Credit Card Loan will be based on the spends, transaction pattern, and payment history.

Key Features of loan on ICICI credit card

The following are the key features of the instant loan on ICICI credit card:

  • Any purchase above Rs. 3,000 can be converted to EMI. You can opt for 3, 6, 9, and 12 EMIs which are offered at an interest of 13% or for 18 and 24 EMIs which are offered at an interest of 15%. EMI will be calculated at a rate specified on call and on a monthly reducing basis.
  • You can opt for the Instant EMI option, wherever available, for transactions made online. ICICI bank has a tie-up with leading brands to ensure the best EMI deals.
  • Transfer of outstanding balance up to  3 Lakhs on other Credit Cards, payable in 3 and 6 instalments. Personal Loan Balance transfer will be available at a much lower rate of interest which enables you to save on the interest outgo.
  • Personal Loan up to Rs. 20 Lakhs payable in easy instalments up to 60 months.
  • Personal Loan offered at attractive interest rates of 14.99% to 15.99% p.a..
  • No documentation, no collateral security, and no guarantor required.
  • Easy processing and quick disbursal of Personal Loans. The loan proceeds will be directly credited into your savings account.

How to Apply for a Loan on ICICI Bank Credit Card?

To apply for the ICICI Bank personal loan on credit card, a simple application process has to be followed.

For ICICI Bank EMI on Call

You can either apply for the loan through Internet Banking, through ICICI Bank iMobile App or through Customer care.

  • Through Net Banking:
    • Log in to ICICI Bank Internet Banking using your User ID and Password.
    • Go to Credit Cards and click on Convert to EMI under the My Accounts section.
    • Choose the Card, Transaction, EMI tenure and click on Submit.
  • Through ICICI iMobile App:
    • Log in to ICICI iMobile App by entering your Username and Password.
    • Go to the Cards section and select Credit Card.
    • Click on Convert to EMI on an eligible transaction in the Recent Transaction section.
    • Choose the EMI tenure and click on Submit.
  • Through Customer Care:

For ICICI Bank Instant EMI

You can request for the transaction to be converted to EMI if you have sufficient limit available in your ICICI Bank Credit Card. The EMI will be created and will be added to your immediate next billing cycle.

For ICICI Bank Personal Loan on Credit Card

  • Log in to the internet banking portal or the mobile banking portal of ICICI Bank.
  • Choose the Credit Card section and apply for ICICI Bank loan against credit card.
  • Only select customers with high standing will be given pre-approved loans.
  • If a pre-approved loan does not appear in the Credit Card section, you can still send a request to the bank for a loan by calling the customer care or sending an SMS from your registered mobile number.

For ICICI Bank Credit Card Balance Transfer

You can either give a missed call or SMS to the customer care number from your registered mobile number and request for a balance transfer. A representative of ICICI bank will give you a call back and help you through the process.

Modes of Funds Transfer for a Loan on ICICI Bank Credit Card

Once the loan is sanctioned the loan amount will be credited directly to your ICICI Bank Savings Account. For customers who do not have an ICICI Bank Savings Account, funds will be transferred vide NEFT or a Demand Draft will be issued to the customer. For NEFT the customer will have to send the scanned copy of the cancelled cheque or bank statement clearly mentioning the IFSC code by email for easy and smooth processing.

Repayment of Loan on ICICI Bank Credit Card

The EMI of the loan along with GST will be included in the statement of the next immediate billing cycle. It will be mentioned along with the minimum amount due in your card statement. You will have to pay the outstanding balance mentioned in the Credit Card statement or the minimum amount due on or before the due date mentioned in the card statement.

Kotak Personal Loan Festival Offer 

Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years. 

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ICICI Bank Credit Card Loan FAQs

Who is eligible for a loan on ICICI Bank Credit Card?

A person holding an ICICI Bank Credit Card will be eligible for the ICICI instant loan on credit card. The payment of past Credit Card dues should have been made promptly on time and the credit score should be good.

What are the kinds of loans available on ICICI Bank Credit Card?

There are four types of loans available on the ICICI Bank Credit Card:

  • EMI on Call where any purchase above Rs. 3,000 can be converted into EMI
  • Instant EMI where any online transaction, wherever applicable, can be instantly converted to EMI. ICICI bank has a tie-up with leading brands in order to ensure the best EMI deals.
  • Personal Loan on Credit Card where a loan which is similar to an Unsecured Personal Loan will be given. Flexible repayment option up to 60 months is available.
  • Balance Transfer wherein the balance on other Credit Cards can be transferred to ICICI Bank Credit Card and repaid in 3 or 6 EMI.

How to apply for a loan on ICICI Bank Credit Card?

You can apply for the ICICI credit card loan either through internet banking or ICICI mobile banking. You can also give a call or send SMS to ICICI Bank customer care from your registered mobile number. Thereafter you will get a call from the executive of ICICI Bank who will help you through the loan process.

What are the modes of funds transfer?

The ICICI credit card loan proceeds will be credited to your ICICI Bank savings account. If you do not have an ICICI Bank savings account, proceeds will be transferred vide NEFT to the savings account of the other bank. For this, a cancelled cheque or bank statement mentioning IFSC code should be scanned and sent through email.

What is an ICICI Bank kisan credit card loan?

The ICICI Bank kisan credit card loan was launched by the Indian Government in August 1998 for India’s farmers. The aim of the Kisan Credit Card scheme is to ensure that Indian farmers have affordable access to short-term credit as they need funds for crop cultivation, harvesting, and maintenance of farms.