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how to convert ICICI credit card payment to EMI

how to convert ICICI credit card payment to EMI

January 1, 2022
4 min read
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if you own a credit card (and who doesn't nowadays), you must settle your bill every month. each credit card has a billing cycle, and it culminates with the monthly billing date. if you're trying to be more financially responsible, knowing your ICICI credit card's monthly billing date will make your life a lot easier.
once your new card is activated, the first thing you should find out from ICICI is your monthly billing date. this date is the same for each month but may vary between users. it all depends on when in the month your card gets activated.

what is an EMI?

an equated monthly instalment (EMI) is an amount that a borrower pays to a lender electronically on a particular day on each calendar month. 
if you know the monthly billing date of your ICICI credit card, you can set up an EMI to automatically debit from your account on a particular day every month. this amount gets debited as a written agreement between you, your bank, and ICICI.

how to set up an EMI on your ICICI credit card?

the procedure for setting up an EMI to pay credit card bills varies from one bank to another. follow these basic steps to convert your credit card payment to EMI on your ICICI credit card account:

  • with ICICI, you get a facility known as “EMI on call.”
  • you can set up EMIs to cover periods of 3 months, 6 months, 9 months, 12 months, 18 months, and 24 months respectively.
  • under “EMI on call,” the transaction amount should be a minimum of ?3,000.00.
  • you cannot convert cash, fuel, gold, or jewellery into EMI.
  • under the “EMI on call” system, you will be charged 1.33% per month. it is a lower rate of interest than the revolving rate of a credit card.
  • you will also be charged a one-time processing fee of 2% of the transaction value.
  • you cannot covert transactions older than 30 days into EMI.

how can i avail “EMI on call?”

ICICI offers three ways to avail of this facility – through internet banking, the ICICI Bank iMobile app, and by calling the ICICI customer care number:

through internet banking

  • if you haven't registered for internet banking, go to the ICICI's login page and first register for internet banking. You will have to provide all your details as requested.
  • once you have registered for internet banking, log into the home page for ICICI internet banking.
  • go to "my accounts" and click on the option "credit cards."
  • now, click on “convert to EMI.”
  • select your card in the drop-down box and provide the transaction details, EMI tenure, and click “submit.”

through the ICICI Bank iMobile app

  • download the ICICI Bank iMobile from Google Play or the AppStore.
  • open the iMobile app.
  • go to the “cards” section.
  • select your card.
  • go to “recent transactions” and select an eligible transaction.
  • select “convert to EMI.”
  • choose an EMI tenure of your choice.
  • click on “submit.”

through customer care

  • use your registered mobile number to give a missed call on the ICICI customer care number.
  • a customer care representative will reach out within two working days of placing the missed call.

how CRED can help you with your credit card payments?

once you set up an EMI on your ICICI credit card account, you're nowhere near done being financially responsible yet. you still need to be aware of the outstanding monthly dues on your account. keeping track of these dates and numbers can be a bit of a hassle, but luckily, CRED is built to take care of this for you.
CRED is an app that helps you track your credit card payments, and you can even earn points by using CRED to pay for your credit card. these points can be redeemed for select goods and services.
you can add multiple cards to CRED and pay for them through the app. the amounts will get credited to the respective accounts within a few hours. however, you need to have a credit score of more than 750, to be eligible to use CRED.

how you can benefit from CRED?

by using CRED, you will never miss a credit card payment and can always maintain a sufficient balance to pay your EMIs. these are some benefits of credit card bill payments via CRED.

track your payments

CRED helps you to track your payments to keep you updated on how much credit is left on your card, and you will get updated on the interest amount and outstanding balance.

regular alerts 

CRED uses your credit rating in real-time to process your data to give you alerts on payment amounts, total due, and due dates.

different options to pay

CRED pulls up different options that you can use to pay your credit card bill in line with your current circumstances.

reward points

whenever you pay a credit card bill, you are entitled to reward points in the form of "coins" and "gems." the number of coins you earn is equal to the amount of your bill. gems are what you earn for getting others to sign up for CRED.
you can redeem your coins and gems for cashback and discounts on things like flight bookings, food, and products from various e-commerce websites.

credit card payment is easy through CRED

we showed you how to convert credit card payment to EMI in your ICICI credit card. if you set up EMIs for your ICICI credit card payment, you will wonder why you never opted for this system earlier. 
furthermore, an app like CRED introduces fun into the process by offering rewards that will motivate you to pay your bills promptly and get rewarded in the process. CRED effectively removes the hassle from your bill payment process.
whether you set up an EMI on your ICICI credit card or not, it is still worthwhile to try out CRED to benefit from the attractive offers available on the app. download CRED today for a fun-filled experience while paying your credit card bills.