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1
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Why do I need
a Credit Card? |
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2
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What are the
benefits of ICICI Bank Credit Cards? |
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3
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What are the
service charges and fee structure of various Credit Cards
offered by ICICI Bank? |
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4
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Where can
I go through the features of various Credit Cards offered
by ICICI Bank? |
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5
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What is Credit
Limit? |
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6
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Can the limit
on my credit limit be increased? |
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7
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How much
cash limit can I enjoy on the Credit Card?
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8
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What is Grace
Period? |
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9
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Do I have
to pay tax on using a credit line with Grace period (on
client's material gain)? |
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10
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What is a
Pin Mailer? |
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11
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How should
I activate my card? |
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12
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What are
the precautions while using a Card and a PIN Mailer? |
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13
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What are
the precautions that I should take of the Plastic Card?
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14
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What are
the basic Card Usage Guidelines? |
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15
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How to read
the Monthly Credit Card Statement? |
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16
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What happens
if I pay more than the total amount due? |
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17
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What happens
in case of a disputed transaction? |
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18
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19
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What should
I do if my Card is lost or damaged? |
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20
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Can I use
my Credit Card for expenses on the Internet?
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21
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What do I
do if my Credit Card is declined? |
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22
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What if I
cross my credit limit? |
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23
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Can my limit
be enhanced / increased? |
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24
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What is the
Revolving Credit Facility? |
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25
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26
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When will
the interest not be charged on my card? |
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27
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Are there
any interest charges? |
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28
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How are interest
rates calculated on ICICI Bank Credit Card?
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29
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What is Interest Free (0%) credit period?
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Why do I need a Credit Card?
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A Credit Card allows you to pay for
products and services without actually using your funds.
The bank pays for your transactions and you pay the
bank at your convenience. You will be sent a statement
of your transactions. You have a choice to pay either
full amount on or before due date or you may repay part
of the amount (at least 10% of the total outstanding)
and carry forward the balance and pay interest on it.
Please note that if you repay the full amount each month,
there will be no interest charged on your account, ever!
You will not need to carry large amounts of cash for
purchases, just a small and convenient ICICI Bank Credit
Card in your wallet. It will also help you in emergency
or unplanned expenses when you may not have sufficient
cash in a situation. A Credit Card allows you to pay
for products and services without actually using your
funds. The bank pays for your transactions and you pay
the bank at your convenience. You will be sent a statement
of your transactions. You have a choice to pay either
full amount on or before due date or you may repay part
of the amount (at least 10% of the total outstanding)
and carry forward the balance and pay interest on it.
Please note that if you repay the full amount each month,
there will be no interest charged on your account, ever!
You will not need to carry large amounts of cash for
purchases, just a small and convenient ICICI Bank Credit
Card in your wallet. It will also help you in emergency
or unplanned expenses when you may not have sufficient
cash in a situation.
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What are the benefits of ICICI
Bank Credit Cards? |
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Welcome to a world of benefits with your ICICI Bank
International Credit Card. Experience the unmatched advantages
and powerful features of your ICICI Bank Credit Card to
make purchases at departmental stores, hypermarkets, restaurants,
hotels, petrol stations, mobile bills, holidays, travel,
tickets or any other services like internet purchases,
fees, car rentals or even your tasty pizza and enjoy the
experience of convenient transactions - Whatever, Whenever,
Wherever !!!
- Internationally Valid Credit Card
- Grace Period Functionality
- Nominal Rate of Interest
- Free Supplementary Card for Life
- Emergency Requirement
- Whatever, Whenever, Wherever - The Happiness of
Impulse Purchase
- Convenience
- No Deposit of Guarantees, Collaterals or Security
- Safe and Secure
- Zero Lost Card Liability
- 24 Hours Customer Service Support
- Enjoy Good Credit Limits
- Financial Planning
Global Emergency Assistance Service |
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What are the service charges
and fee structure of various Credit Cards offered by ICICI
Bank? |
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ICICI Bank Credit Cards are competitively priced in
the Russian market. Click
here to view the fees and charges of the Premium Gold
and Classic Silver Credit Cards. |
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Where
can I go through the features of various Credit Cards
offered by ICICI Bank? |
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ICICI Bank Credit Cards come packed with several unique
features and benefits. ICICI Bank Offers International
Credit Cards in a Premium Gold and Classic Silver variants.
Click
here to view the product features. |
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What is Credit Limit? |
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Credit limit is the assigned credit line or amount
on the card upto which the bank will allow transactions.
The customer is advised to use the card keeping credit
limit in mind. Any transactions above the assigned credit
limit will be declined. Your assigned credit limit keeps
reducing as you spend on the card, until the transactions
are paid for. You can create free space (release blocked
limit) by paying for your transactions. |
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Can the limit on my credit limit
be increased? |
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Credit limit is assigned based on the bank’s
international evaluation and calculation. It may not be
always directly proportional to you monthly income. The
initially set credit line can be extended in the future.
For the bank to take an extension decision, you will need
to submit the documents confirming your income growth:
NDFL 2 Income Statement (Individual Income Tax Form).
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How much cash limit can I enjoy
on the Credit Card? |
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Your ICICI Bank Credit Card gives you the freedom to
withdraw upto 40% of your assigned credit limit as cash
from ATMs. Please note that unlike purchases and services,
cash does not have any free grace period of 0% interest.
Interest will be charged from the transaction date. |
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What is Grace Period? |
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It is the time period granted by the bank when no interest
is charged on your purchases. This can be enjoyed only
if your entire outstandings are fully paid on or before
due date. Enjoy up-to 50 days of Interest Free Grace Period
on your purchases. You will not be charged interest on
your purchases if your repay the full amount within or
up-to due-date. If you desire, you can transact regularly
on your ICICI Bank Credit Card and not pay any interest
for life. Grace Period refers to the period wherein the
customer is not charged any interest for purchases made
on the Credit Card. It depends on the time period between
the transaction date and the payment due date as per the
billing cycle. Example:
On January 1 you buy a RUR 20 000 TV set on your ICICI
Bank Credit Card. In the end of January your statement
date (when this transaction will reflect in your monthly
statement). After that you will get time till 20 February
(which is the Due Date) to repay for this purchase. If
you repay the full outstanding amount on or before February
20, no interest rate will be charged on your Credit Card.
Hence the grace period on your ICICI Bank Credit Card
is at least 20 and at most 50 days. * (Conditions apply)
- Please note that the benefit of free grace period
is not applicable for cash withdrawals.
- You will get between 20 to 50 days of interest
free (0% Interest) grace period depending on your
purchase date.
This benefit is applicable only on purchases when your
previous ‘total outstanding amount’ is fully
repaid to the bank. |
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Do I have to pay tax on using
a credit line with Grace period (on client's material
gain)? |
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As of January 1, 2005 an amendment to the Tax Code was
enforced, that is related to granting grace period for
Credit Cards. In accordance with the amendment the benefit,
gained by the client as a result of using the credit line
on concessionary terms, determined by the bank and the
client in an agreement, is not subject to taxation. From
what moment is the interest charged? Whenever you fail
to settle the debt in full until the date indicated in
the statement, the interest will be charged in accordance
with the rates as of the date of purchase until full repayment.
Please note that cash transaction do not enjoy interest
free grace period. |
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What is a Pin Mailer? |
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A Pin Mailer contains the Personal Identification Number
which is sent to you by post on approval of your Credit
Card application. The PIN Mailer will be sent to you separately
from the Credit Card. The PIN will be used by you at the
ATM in case of cash withdrawal on your Credit Card or
to transact at such shops and merchant establishments
which require a PIN. Please do not show the PIN to anyone
else. Kindly memorise the PIN as soon as you get it and
destroy the PIN Mailer. |
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How should I activate my card?
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For security reasons, you card is in a deactivated
state. You will have to call the Customer Support Service
at +7495 9811717 to activate your card after receiving
it. Please identify yourself to the phone executive and
your card will be activated immediately after positive
identification. Please remember the answer to your password
question. |
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What are the precautions while
using a Card and a PIN Mailer? |
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- Ensure that you receive the Card and PIN Mailer
from the bank in a sealed state. If either the card
or the PIN is tampered, please inform the bank immediately.
We will replace it for you.
- Please memorise your PIN Number and destroy the
PIN envelope after receiving it.
- Never keep the card and the PIN number together,
eg. In your wallet
- Never share your PIN number with anyone like your
friends, relatives etc. This can lead to your card
getting misused.
- Never write the PIN number behind or on the card
for ease. Please memorise it in the mind.
- Always be careful at the ATM while inputting the
PIN. You maybe under observation of strangers who
want to known your PIN. Cover the keypad with your
other hand while inserting PIN number.
- Please sign on the signature panel on the reverse
of the Card immediately with a non-erasable ball-point
pen (preferably in black ink). This will ensure that
the benefits of membership are yours and yours alone.
- Keep the Card in a prominent place in your wallet.
You will notice if it is missing
- Never give your Card or PIN to any person who might
say he/she has come from the Bank and wants to replace
your card. The Bank will never need your physical
plastic card or PIN for any reason.
- Always remember to take your card back after any
usage like at the ATM or in a shop or restaurant.
Ensure that its your card and keep it safely in your
possession.
- For any reason if not to be used, please destroy
the plastic card by cutting/breaking the card on the
Magnetic stripe. Never leave your card(s) unattended
on your table, in drawers or at home. Never discard
even an old card without destroying it.
- Incase you want to give a supplementary card to
any of your loved ones, please educate them on these
precautions. A small mistake on their part might lead
to liability on your account because you are responsible
for the use/misuse on their card as well.
- Don't leave your receipt behind at the ATM. Your
PIN and account number from a discarded receipt could
make you vulnerable to Credit Card fraud. Also, don't
throw out your Credit Card statement, receipts or
carbons without first shredding them!
- Ignore any Credit Card offer that requires you
to spend money up-front or fails to disclose the identity
of the Card issuer
- Always keep a list of your Credit Cards, Credit
Card numbers and toll-free numbers in case your Card
is stolen or lost.
- Check your monthly statement to make certain all
charges are your own, and immediately notify the Card
issuer of any errors or unauthorized charges.
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What are the precautions that
I should take of the Plastic Card? |
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Please Avoid:
- Bending the Card.
- Scratching the black magnetic stripe with any sharp
object like keys etc.
- Exposure to electronic devices and gadgets.
- Direct exposure to sunlight and heat.
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What are the basic Card Usage
Guidelines? |
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Using your ICICI Bank Credit Card is extremely simple.
After making your purchase or availing of the service
provided by the Merchant Establishment, present your ICICI
Bank Credit Card. Upon processing your Card transaction,
the Merchant will request you to sign a charge slip. This
contains details about the amount to be billed to your
ICICI Bank Credit Card. Please check and confirm that
all details have been correctly filled, including the
amount of the transaction. Should you wish to leave a
tip or miscellaneous charge, you can do so by filling
in the same on the charge slip. After filling in this
section we recommend that you write out the total amount
in the charge slip before signing. Please ensure that
you sign on the charge slip in the same way you have signed
on the reverse of the Card. The Merchant Establishment
will return the copy of the bill(s) and the charge slip
along with your Card. Please match the amounts before
leaving the establishment. It is recommended to retain
your copy of the charge slip and the corresponding bill
till such time as the amount is reflected in you Card
billing statement. Your Monthly Credit Card Statement
is a statement of accounts with a summary of transactions
made through your ICICI Bank Credit Card for the previous
month, giving the details of the transactions made through
your Card, during the period. |
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How to read the Monthly Credit
Card Statement? |
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Your monthly statement is a summary of the following
information |
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- Details of all transaction carried out on the card
(primary and supplementary) during the month or billing
period.
- ‘Total Amount Due’ Value is the sum
of all the outstanding you need to return to the bank
to make your outstandings nil. This is calculated
as follows
- TAD = Opening Balance+Purchase+ Cash Withdrawal+Any
other Debits -Any Payments - Any other credits
- Minimum Amount Due is 10% of the Total Amount Due
- Due Date : is the date on or before which the payment
should reach you account
- Statement Period : The time frame to which the transactions
pertain to. It is usually one month period
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What happens if I pay more than
the total amount due? |
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The excess amount will remain in your card account
and can be adjusted against your future transactions. |
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What happens in case of a disputed
transaction? |
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In case of a disputed Card transaction, you will have
to fill out a Card member Dispute Form (CDF) detailing
the nature of disputed transaction. Kindly fill up the
form at any our branches and give it to our officer. We
will revert to you at the earliest regarding the status
of your transaction. |
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How do I repay my outstanding
on the ICICI Bank Credit Card to the bank? |
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ICICI Bank offers you multiple routes to repay you
card outstanding to manage your finances and credits better.
Click
here to view the repayment options. |
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What should I do if my Card
is lost or damaged? |
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Immediately call the ICICI Bank 24-hour Customer Care
Centre at +7495 9811717. They will immediately freeze
payments on your current Card and a new Card will be delivered
to you. |
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Can I use my Credit Card for
expenses on the Internet? |
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Yes, your global Card can be used for expenses on the
Internet. However, the we do not allow quasi cash transactions
like sweepstakes, betting or lotteries. |
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What do I do if my Credit Card
is declined? |
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Please call up our 24-hour Customer Care Centre. |
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What if I cross my credit limit?
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If you cross your credit limit, you will be charged
a penalty of RUN 400 each month. |
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Can my limit be enhanced / increased?
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Limits assigned on the ICICI Bank Credit Cards can
be revised after 6 months of transactions and timely payments.
Incase f increase, you will have to give us a proof of
your new income incase you want the limit revised faster.
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What is the Revolving Credit
Facility? |
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When you receive your bill, you have the flexibility
of selecting any of the following payment options: |
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- Pay the total amount due.
- Pay only the minimum amount due (10% of the bill
amount subject to a minimum of RUB 100) and the balance
can be carried forward to subsequent statements.
- Pay any amount ranging from the minimum amount
due to the total amount due.
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Should you opt for any of the last two payment options,
then the amount due is carried forward to the next billing
period. This is referred to as the Revolving Credit Facility.
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When do I start paying interest
on new purchases if I am already revolving credit? |
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If you are revolving your credit, fresh purchases attract
interest from their date of purchase. 0% Interest on purchases
is valid only if your previous outstanding amounts are
fully settled on of before due date. |
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When will the interest not be
charged on my card? |
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If ALL outstanding amounts are paid at any point of
time on or before due date, the interest charges will
cease to apply immediately. |
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Are there any interest charges?
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If you send a payment for the Total Amount Due before
the "Payment Due Date" no interest charges are
applicable. Thus you can enjoy interest-free credit from
the date of purchase to the date on which the payment
is due. This can be as high as 50 days but at least 20
days from statement date.
However, for certain transactions like cash withdrawals,
interest charges would be applicable from the date of
transaction till date of payment.
If you send a payment for the "Minimum Amount Due"
or pay any part amount less than the "Total Amount
Due", interest charges are applied on the outstanding
amount and on any fresh charges that you incur subsequently.
If there are some unpaid "Minimum Amounts Due"
of previous statements, then these will also be added
on to the "Minimum Amount Due" of your current
statement.
If you have for some reason exceeded your credit limit
then the amount by which you have exceeded the credit
limit will also be added to the "Minimum Amount Due".
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How are interest rates calculated
on ICICI Bank Credit Card? |
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Interest charges are applicable only if the part payment
facility (revolver facility) is chosen. It is governed
by a rate of interest. The interest accrual is on a daily
outstanding balance. The monthly application of interest
happens on the statement date. |
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An Example of interest calculation:
Taking an example where the customer has all retail transaction
- no cash withdrawals |
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- As the customer has made a part payment, interest
is charged on transactions in the previous month from
the respective transaction date up to the statement
date. Then on TAD (total amount due) from the statement
date up to the part payment date.
- Then on the balance amount (after deducting payment
from TAD) from the part payment date up to the next
statement date.
- And if there are any fresh purchases interest is
charged on the same from respective transaction date
up to statement date.
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*Please note if the customer makes a part payment he
does not enjoy interest free days on fresh purchases.
*Formula: Principal amount* rate of interest* no of days.
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What is Interest Free (0%) credit period? |
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| Card |
Payment due |
Maximum interest free
period available* |
| Gold |
20 days
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50 days
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| Classic |
20 days
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50 days
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*This is applicable provided the Total Payment due
shown in the previous statement is settled in full. |
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Retail Banking 
