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ICICI Bank Extended Instant ‘Cardless EMI’ Facility for Online Shopping

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‘Cardless EMI’ for online shoppingICICI Bank has extended the instant ‘Cardless EMI’ facility for its pre-approved customers to make online purchases across 2,500 e-commerce platforms without using their card.

  • The ‘Cardless EMI’ facility allows its customers to instantly buy products or services online through Equated Monthly Instalments (EMIs) by using their mobile phone and PAN up to Rs 5 lakh.


i.Cardless EMI facility was introduced in November 2020 by ICICI Bank for its customers to purchase and make digital payment at retail stores through POS (Point of sale) terminal. Click here to know more

ii.ICICI Bank was India’s 1st bank and 1st in the industry to launch a fully digital payment mode, a cardless EMI facility at retail stores and online shopping.

Features of ‘Cardless EMI’:

i.It is a completely digital and instant EMI facility, it enables the customers to convert transactions into EMIs by entering their registered mobile number, PAN (personal account number) and OTP(one-time-password).

ii.Transaction Limit: Customers are provided with a pre-approved limit for purchases under the EMI facility from Rs 7,000 to Rs 5 lakh.

iii.Tenures: Four different choices of tenures viz, 3, 6, 9 and 12 months.

iv.Categories: It is available across different categories of e-commerce brands such as electronics, home appliances, laptops, mobile phones, travel, fashion, sports-wear, and home décor.

v.Interest Rate: Cardless EMI has an interest rate in the range of 12 percent to 19 percent and it has no processing fee.

vi.The bank has tied up with digital lending platforms such as FlexMoney and ShopSe – to offer this facility across 2500 brands including Bata, Bajaj Electricals, Decathlon, Duroflex, Flipkart, HealthifyMe, etc.

Recent Related News:

On April 29, 2021, ICICI Bank launched ‘Merchant Stack’, a digital banking service as a continuation of its ‘ICICI Stack’, for retail merchants especially for the Micro, Small and Medium Enterprises (MSMEs) and Entrepreneurs.

About ICICI Bank:

Establishment – 1955(Incorporated in 1994)
Headquarters – Mumbai, Maharashtra
MD& CEO – Sandeep Bakhshi
Tagline – Hum hai na, Khayal Apka