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✓ Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card from ICICI Bank now!

Loan Against ICICI Credit Card

Credit card loans rescue an individual during financial emergencies. ICICI bank offers personal loans on ICICI credit cards to cardholders. One can request for an ICICI instant loan on a credit card for urgent funding. With minimal formalities and basic documentation, the cardholder will get approval for an ICICI card loan. Once the loan is approved, the money will be instantly transferred into the saving accounts of the applicant.

Types of ICICI Credit Card Loans

To find out about the different types of loans against ICICI bank credit cards, read the tables below

  • Personal Loan on Credit Card

Eligibility

ICICI credit cardholders get pre-approval via SMS or call from ICICI executive

Documentation

Zero documentation required for loan pre-approval

Loan Amount

Maximum of Rs. 10 Lakhs

Loan Tenure

60 months (maximum)

Interest Rate

Bank’s discretion

Processing Fees

Nil

Loan Disbursal Time

3-4 working days

 
 
  • EMI on Call

Eligibility

ICICI credit cardholders get pre-approval via SMS or call from ICICI executive

Documentation

Zero documentation required for loan pre-approval

Loan Amount

Bank’s discretion

Loan Tenure

The cardholder can choose between 3,6,9,12,18, and 24 months

Interest Rate

Bank’s discretion

Processing Fees

2% of the ICICI card loan

Loan Disbursal Time

The ICICI credit card loan amount within 24 hours into the cardholder's savings account. The demand draft process takes 5-7 days.

 

  • Instant EMI

Eligibility

ICICI credit cardholders get pre-approval via SMS or call from ICICI executive

Documentation

Zero documentation required for loan pre-approval

Loan Amount

Bank’s discretion

Loan Tenure

The cardholder can choose between 3,6,9,12,18, and 24 months

Interest Rate

The interest rate on ICICI Instant EMI loan amount is -

3-6 month tenure - 12.99%

6-12 month tenure - 13.99%

12-24 month tenure - 14.99%

Processing Fees

Nil

Loan Disbursal Time

The ICICI credit card loan amount within 24 hours into cardholder’s savings account. The demand draft process takes 5-7 days.

 

  • Balance Transfer

Eligibility

The candidate should have a minimum outstanding balance of Rs. 15,000 before applying for a fund balance transfer.

 

Documentation

Zero documentation required for loan pre-approval

Loan Amount

Rs. 3 Lakhs (maximum)

Loan Tenure

6 months (maximum)

Interest Rate

Bank’s discretion

Processing Fees

Bank’s discretion

Loan Disbursal Time

The ICICI credit card loan amount within 24 hours into cardholders’ savings account. The demand draft process takes 5-7 days.

 

Eligibility Requirements for an ICICI Credit Card Loan

To get an ICICI bank credit card instant loan, one must fit in the below-mentioned eligibility criteria:

  • The applicant must be the holder of an ICICI credit card.

  • The track record of the applicant regarding past credit card payments must be good.

  • The expenses, payment pattern and transaction history will also influence the credit card loan.

How to Apply for an ICICI Credit Card Loan?

There are various methods to apply for an ICICI credit card loan. Follow these quick and simple steps to enjoy a hassle-free experience.

ICICI EMI on Call Loan

The customers can choose from any of these methods mentioned below, to apply for ICICI EMI on Call loan

1. Avail Credit Card loan Via Net Banking

  • Use your ID and password to log in to your ICICI Net banking account.

  • Navigate to the credit cards section and tap on ‘Convert to EMI’ displayed under the ‘My Accounts’ bar.

  • Select the card, EMI tenure, Transaction and then ‘Submit’

  • Your application for ICICI insta loan on a credit card is submitted.

2. Avail Credit Card loan Via iMobile App

  • Use your ID and password to log in to your ICICI iMobile App account.

  • In the ‘cards’ section, choose ‘Credit Card’

  • Under the ‘Recent Transaction’ section, tap on ‘Convert to EMI.’

  • Select the tenure of EMIs and then ‘Submit’

  • Your application for ICICI insta loan on a credit card is submitted.

3. Avail Credit Card loan Via Customer Care

  • Contact the ICICI credit card customer care of ICICI for a personal loan on the credit card. Leave a missed call on their customer care number and the customer care executive of ICICI will contact you within 2 working days.

ICICI Instant EMI Loan

The cardholder will have to submit the request form in the bank to convert their respective transaction into EMI mode. The request will be approved only if the cardholder holds a sufficient balance in their ICICI credit card. Once the request is approved, the EMI will be added in the next billing cycle of the credit card.

ICICI Personal Loan

  • Sign in to your credit card net banking account via ICICI web portal or mobile application

  • Select ‘ICICI bank loan against credit card’ under credit card option

  • Customers with a good track record will be given a pre-approval. In case, a pre-approval is not granted to a cardholder, they can send a request to the bank via SMS or call the customer care centre from their registered mobile number.

Features of Loans on ICICI Credit Cards

  • Purchases above Rs. 3000 can be turned into EMI. You can choose either 3,6,9 and 12 monthly instalments at 13% or 18 and 24 monthly instalments at 15%. The rate of interest for EMI will be fixed on call and the monthly reducing method will be used.

  • Around 14,000+ ATMs are available in the country for customers’ convenience.

  • There is an instant EMI feature available for online transactions. ICICI bank has collaborated with leading brands to deliver the best deals on EMIs.

  • The outstanding amount on other credit cards of up to Rs. 3 lakhs can be paid in instalments of 3 and 6. You can save a lot of money on an ICICI bank personal loan on the credit card as the personal loan balance transfer is offered at lower interest rates.

  • A personal loan of Rs. 20 Lakhs or below can be paid in instalments with a period of 60 months.

  • The rate of interest for personal loans is between 14.99% to 15.99% p.a

  • There is no need for collateral security, guarantor and the documentation required is also very basic.

  • Fast processing and instant disbursal for personal loans. The loan money is directly transferred to your savings account.

  • The funds are transferred within 3-4 working days after the application procedure is completed. In the case of demand draft, the fund disbursal takes around 6-7 working days.

Repaying an ICICI Credit Card Loan

After the ICICI card loan application is accepted by the bank, the sanctioned loan amount is directly transferred to your savings account. In case an applicant does not have a savings account with ICICI bank, the sanctioned loan funds will be sent via NEFT or a DD will be issued to the applicant. For the applicants receiving money via NEFT, the individuals will have to share a scanned copy of any document which mentions the IFSC code for the hassle-free procedure. A cancelled cheque or bank account statement can be used.

The bank statements of the immediate payment cycle will include GST charges along with the EMI amount. It will be written with the minimum due amount in the card statement. You will either have to pay the outstanding balance as mentioned on the credit card statement or the minimum due amount. The minimum due amount should be paid on or before the mentioned due date.

Advantages of Taking a Loan on an ICICI Credit Card

Any ICICI credit cardholder who opts for the ICICI credit card loan feature can enjoy the below-mentioned benefits:

  • Saving money by paying interest at comparatively lower rates.

  • Various options like 3,6,9,12,18 and 24 months are available to choose a tenure period.

  • Fast and simple processing

  • No collateral or guarantor required.

  • Basic documentation required

  • Instant EMI feature available for popular brand shopping.

  • No hidden charges or processing fees.

One can learn more about the ICICI bank credit card loans, interest rates, etc., by visiting the Finserv MARKETS app. 

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Frequently Asked Questions

✔️Can I get an ICICI credit card instant loan?

Instant loans in the form of instant EMIs are available to ICICI credit card cardholders for purchases they make online provided the option is available. ICICI Credit Card Payments are converted into flexible equated monthly instalments. 

✔️Will interest be charged on my ICICI credit card loan?

Purchases that surpass a price of INR 3000 can be converted into equated monthly instalments which are payable in 3, 6, 9 or 12 intervals with interest amounting to 13%. Should the instalments be over 18 and 24 intervals, the ICICI bank credit card interest rate applicable amounts to 15%.

 

✔️Who is eligible for a loan on an ICICI credit card?

ICICI credit card loans are eligible to those who hold ICICI Bank credit cards and have made previous credit card bill payments in time. Eligibility is dependent upon payment history, pattern of transactions and spending habits on the credit card in question. 

✔️What are the different modes of funds transfer for an ICICI credit card loan?

Should you have an ICICI Bank savings account, once your loan is sanctioned it will be credited directly into it. Else, a demand draft will be issued to you or an NEFT will be made use of.

✔️What is the time taken for ICICI credit card loan disbursal?

The ICICI credit card loan amount within 24 hours into the cardholder’s savings account. The demand draft or NEFT process takes 5-7 days.