How to apply loan from ICICI Bank Pay Later

How to apply loan from ICICI Bank Pay Later: By the way, there are many banks and finance companies in the market that provide loans for personal needs. If you need a small amount of money, then ICICI Bank is offering ‘Free Loan’ facility to its customers, under which you can get loan from ICICI Bank without any interest. The name of this facility is ICICI Bank Pay Later.

So friends, in today’s article, we will tell you about the information related to ICICI Bank Pay Later loan like what is ICICI Bank Pay Later, what documents, eligibility will be required to take this loan,

What are the charges for the loan and in how many days you can deposit Pay Later. Along with this, we will also give you answers to questions related to ICICI bank pay letter which will prove to be very beneficial for you.

About ICICI Bank Pay Later

ICICI Bank provides Pay Later facility to its customers for personal needs which can be activated in less than 1 minute only through Pockets Wallet, i-Mobile and Internet Banking App, and official website.

This facility is provided only after looking at your track record and CIBIL Score.

According to this facility of Pay Later, you can take a loan of Rs 20,000 without any interest rate for 45 days .

With this you can do from online shopping to bill payment and payment to any merchant through UPI ID. Technology with BHIM UPI 2.0 has been used for Pay Later through which Account Holder can make payment.

Pay Later works in a way similar to a credit card where you spend first and pay later.

Note: Before taking ICICI Bank Pay-Later, you have to get your Saving Account opened and you can open this account by visiting your nearest ICICI Bank with Aadhar Card and Pan Card and now at present you can through video. You can get full video E- KYC of your account.

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ICICI Bank PayLater Loan Eligibility

ICICI Bank has made this facility available to select customers of the bank only. Those who are eligible for this, they get a pop-up invitation when they log in to Internet Banking, iMobile or Pocket Wallet.

To take a PayLater loan, you have to fulfill the eligibility mentioned below which is as follows.

  • You must be a citizen of India.
  • Applicant’s age should be more than 23 years.
  • The applicant should have an active bank account with Debit Card , Net Banking .
  • Your account record and credit score should be good.
  • You must have KYC documents like Aadhar card, PAN card.
  • You must also have a mobile number linked to Aadhar Card, Pan Card.

ICICI Bank PayLater Loan documents required

To take Paylater loan from imobile app, it is mandatory to have the following documents which are as follows.

  • Pan Card
  • Aadhar Card
  • Mobile No
  • Bank Details

Credit Limit of ICICI Bank PayLater

According to this facility, ICICI Bank offers a credit limit of Rs 5,000 to Rs 20,000 for your account, depending on the eligibility of its customers. When an invitation is sent to you, the bank sets the credit limit.

This limit depends on several factors like CIBIL score, monthly income and repayment capacity.

Note : All PayLater accounts are reviewed by the Bank from time to time and the sanctioned limits are subject to change from time to time. Therefore, the bank sends you a notification when you are eligible for a change in the limit.

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Fees and Charges on ICICI Bank PayLater Loan

If you do not deposit the PayLater loan on time, then you are mainly charged with two types of charges, PayLater dues, late fee of up to Rs 50 in the form of payment due date, and GST fees will also have to be paid. Apart from this, you have to pay interest rate according to 3% per billing cycle.

ICICI Bank PayLater Benefits

Following are the features of ICICI Bank Pay Later Loan which are as follows:

  • It is a virtual payment mode in which no physical card is required to complete the transaction.
  • Using this facility one can get extended credit up to 45 days with 0% interest.
  • Can use it to make purchases, pay bills or pay merchants
  • Those who have UPI (United Payments Interface) ID.
  • One can apply through multiple platforms including Mobile App, Internet Banking or Pockets (Digital Wallet).
  • Pay Later is debited from the account provided by you at the time of applying for payment.

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How to Apply Loan from ICICI Bank Pay Later 

ICICI Bank pay-later facility can be availed through the official website, Pockets Wallet, i-Mobile and Internet Banking App by following a few simple steps which are as follows:

Step 1 . Install ICICI Bank Pay Later App from Google Play Store.

ICICI Bank Pay Later Apply
ICICI Bank Pay Later Apply

Step 2 . Complete the registration process with the help of your mobile number.

Step 3 . Select Account & Deposits in the app.

Step 4 . Now tap on Paylater Apply Now and here you have to click on Check.

Step 5 . After this click on Got it and here you are told about your personal details.

Step 6 . Now you have to tap on Check again. Here all your details are captured from your account itself.

Step 7 . Now submit the application form, here you are told about the eligibility, how much credit limit you have got.

Step 8 . After this you are told through sms that your icici PayLater account has been activated.

Note : If your civil score is not good and your account record is not good then you will not be eligible for this loan and your pay letter may be rejected. Keep in mind that before availing this facility, you must read the terms and conditions. Take.

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Read Also: ICICI Personal Loan

ICICI Bank PayLater Customer Care Number

If you face any kind of problem then you can get solution of your problem by talking to ICICI Bank customer care. It provides you 24 hours customer service. Apart from this, you can also do live chat through Imobile application and website.

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My Last Word:

Today’s post must have been helpful for you, in which we have told you about the information related to ICICI Bank Pay Later Loan. Like how to apply for ICICI Bank Pay Later loan , what documents will be required , what are the eligibility for this and whether it gives loan safely

ICICI Bank Pay Later Loan – FAQ’s

Q1. What is the age limit to avail ICICI Bank Pay-Later Loan?

Ans. Over 23 Years.

Q2. How long does an ICICI Bank pay-later loan take to get approved?

Ans. This loan gets approved instantaneously.

Q3. What type of loan does ICICI Bank give?

Ans. ICICI Bank provides various types of loans to its customers like Personal Loan, Home Loan, Property Loan, Car Loan etc. Along with this, it also gives the facility to open Saving Account and Current Account.

Q4. How to make ICICI Pay Later loan repayment?

Ans. ICICI Pay Later loan can be paid through Mobile App.

Q5. Can there be more than one PayLater account and link them to different savings accounts?

Ans. No, at any point of time, you can have only 1 account, the details of which will appear in the eligible payment options.

Q6. Can I apply for this account at any bank branch?

Ans. No, this option is available to select customers of the Bank only and can be applied through Internet Banking, Mobile App or Pocket Wallet.

Q7. Can one use PayLater to make credit card payments?

Ans. No, you cannot use PayLater for credit card payments to transfer funds to any other person or bank account.

Q8. By when should the ICICI PayLater account be paid?

Ans. You have to make the payment within 15 days of your bill generation date. Failure to do so will attract penal interest and late payment charges.

Q9. Can I use ICICI Paylater?

Ans. What can you use for ICICI Bank Paylater facility? You can use this facility to make online shopping, pay bills and pay merchant UPI ID. Paylater account cannot be used to pay credit cards. You cannot use the facility to transfer funds to other bank accounts or make any person-to-person transfer.

Q10. Is ICICI Paylater free?

Ans. The fee is waived for money and GPC income segments. A service fee of rupee. 100 + applied taxes every Rs. Is applied on. 3000 of monthly spent from its ICICI bank Paylater account; Applicated to monthly expenses of rupee.

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