FAQs - About PayLater

ICICI Bank PayLater is a pre-approved Credit Line on UPI. Customers can check their offer eligibility under ‘Pre-approved Loans/Offers’ section on iMobile Pay. Customers can also check the eligible offers through Net Banking in the ‘Offers’ section and avail the required offers in just one click.

ICICI Bank PayLater facility is available to customers on an invitation basis only. Customers for whom the facility is available can activate it using iMobile Pay or Internet Banking:

iMobile Pay > Pre-approved Loans/Offers > PayLater > Activate Now

Internet Banking > Log in > Apply Online > Offers for you > PayLater > Activate Now

The limit of your PayLater Account can range between Rs 50,000 to 2,00,000, based on your eligibility. The limit is already set for the customers to whom the invite is sent.

Go to settings/profile of the UPI app > Add Credit Line on UPI > Select ICICI Bank > Authenticate and it is done!

Your ICICI Bank PayLater Account will be added as a payment option. You can transact for all your merchant needs like shopping, bill payments, recharge etc.

*applicable only for customers with ICICI Bank Savings Account. For others this feature will be released soon.

Customers can use it through iMobile Pay or any UPI payment app:

UPI

Scan and Pay mode*

Collect: Add the UPI ID for making online payments.

PayLater is also available for ICICI Bank Internet Banking transactions.

Every PayLater Account created through the iMobile Pay app has a unique PayLater VPA (e.g. pl.XXXXXXXXXX@icici). You can check your PayLater UPI ID in the PayLater section of iMobile Pay.

PayLater Account used through other UPI apps will have different PayLater VPA IDs. Please check the VPA ID in the app’s settings/profile section against your ICICI Bank Credit Line on UPI.

It can be used to make various UPI payments such as online shopping, mobile recharge, flight/train/bus/taxi bookings etc.

Payments to all the merchant QR codes can be made through UPI Scan and Pay. Online merchant payments can also be made by adding PayLater UPI ID as a payment option (UPI Collect request).

No, only one PayLater Account is offered to each customer.

Please refer the PayLater MITC section to know more about the charges.

Visit icicibank.com > MITC Digital Credit

You can pay through the below methods:

‘Pay Dues’ option available in the PayLater section of iMobile Pay.

Make UPI payment to ifinpay.12DigitPayLaterAccNo@icici (Check PayLater account number in the PayLater section of iMobile Pay)

ICICI Bank Internet Banking > Accounts > PayLater > Pay Now

NEFT/IMPS towards your PayLater Account (Account number can be seen in PayLater section of iMobile Pay or ICICI Bank Internet Banking).

If any amount is due on the due date of your ICICI Bank PayLater Account, the same will be deducted from your linked Savings Account/E-NACH.

For a newly activated UPI, the transactions made in the first <24> hours cannot exceed Rs <5,000>. All the restrictions associated with UPI are also applicable for ICICI Bank PayLater Account. At any point you cannot transact for the amount which is exceeding the sanctioned limit without repayment.

Eligible customers can check the PayLater offer through iMobile Pay or Internet Banking:

iMobile Pay > Log in > Pre-approved Loans/Offers > PayLater

Internet Banking > Log in > Apply Online > Offers for you > PayLater
*If the offer is not available, please continue to bank with us to unlock the offer soon.

Please refer the PayLater MITC section to know more about the charges.

Visit icicibank.com > MITC Digital Credit.

There are no charges for not utilising the complete PayLater Credit Limit. Customers can utilise the limit as per their discretion.

PayLater cannot be used for repayment of dues of credit instruments (Credit Cards, Loans, etc), investments, gambling, betting, lotteries, Central Bank Digital Currency (CBDC) wallet loading, cash withdrawal, account opening fee, security brokers and person-to-person fund transfers.

No. PayLater UPI ID can be used only for the merchant UPI ID payments and not for payments to any P2P (Peer to Peer) UPI transactions.

You may add money to the merchant wallet using UPI payment option. Please check with the merchant for the procedure to add funds in their wallet.

Please check the statement of your PayLater Account to know the payment status. If the amount is not reflecting in the statement even after <72> working hours, please call our Customer Care between <7:00> <a.m.> and <9:00> <p.m.>.

To know more, visit <https://www.icicibank.com/customer-care>

PayLater Accounts are reviewed periodically by the Bank and the sanctioned limit may change from time to time. Please keep using the iMobile Pay app. The Bank will send a notification once you are eligible.

To know more, visit https://www.icicibank.com/personal-panking/paylater

PayLater option is visible during a shopping mall transaction.

PayLater VPA can be used only on the UPI enabled online/offline shopping malls except for the payments made for gold purchases and some other restricted merchants where credit option is restricted.

To know more, visit <https://www.icicibank.com/Personal-Banking/paylater>

If dues are not paid within the due date, default charges and interest will be levied to the customers.

Please refer the PayLater MITC section to know more about charges.

Visit icicibank.com > MITC Digital Credit.

PayLater Account gets locked when dues are not paid by the due date. After payment of dues, your PayLater Account gets unlocked on the next working day. If you are still unable to use the PayLater Account, please call our Customer Care.

Pre-approved customers with ICICI Bank Savings Account do not require any KYC. Pre-approved customers without ICICI Bank Savings Account need to complete KYC for availing PayLater.

ICICI Bank Savings Account holders need not fill any physical form. Pre-approved customers who do not have ICICI Bank Savings Account will have to fill in some details to complete their KYC. The entire process is digital.

Yes. It will be available only for pre-approved customers. You can check your eligibility at <https://buy.icicibank.com/ucj/PayLater/mobile?ius=IS83006US&iup=PANTB1000467> . If you are eligible, all you have to do is set up your repayment facility (E-NACH) and complete your KYC from the comfort of your home.

We set up a mandate with your Savings Account of any bank to collect your PayLater dues on the due date. You can prepay using any of the below methods:

UPI payment to PayLater UPI

Pay dues option available in the PayLater section of iMobile Pay

NEFT/IMPS to your PayLater Account

Account number and UPI ID details are shown in the PayLater section of iMobile Pay.

If you have an ICICI Bank Savings Account, you can select the Savings Account number for repayment while activating PayLater or set up an auto debit facility through iMobile Pay.

Customers who do not hold ICICI Bank Savings Account, will need to set up a mandate with other bank’s Savings Account. Check how to set up a mandate on NPCI (National Payments Corporation of India) website for more information.

If you have an ICICI Bank Savings Account, visit your nearest branch and update your KYC details to experience uninterrupted services.

If you do not have ICICI Bank Savings Account, visit <https://buy.icicibank.com/ucj/PayLater/mobile?ius=IS83006US&iup=PANTB1000467> to open the PayLater Account and complete your KYC.

*applicable only for pre-approved customers.

Customers with PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit!

*applicable only for transactions of more than Rs 10,000.

PayLater EMI is a loan linked with your PayLater credit limit. Customers with PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit

*applicable only for transactions of more than Rs 10,000.

Customers will receive an SMS and e-mail on their registered contact details on the next working day containing the repayment schedule and other details.

PayLater EMI Loans booked between 1st to 20th of a month will have the first EMI due date as 1st of the next month.  PayLater EMI Loans booked between 21st to the last day of a month will have the EMI due date as 1st of next to next month.

Example: If you book a PayLater EMI Loan between 1st to 20th Jan, your first EMI will be due on 1st Feb. If you book a PayLater EMI Loan between 21st Jan till 31st Jan, your first EMI will be due on 1st March.

Please refer the below MITC link for charges and interest on PayLater EMI.

https://www.icicibank.com/personal-banking/cards/digital-credit-card/mitc-paylater-tnc

Customers with a PayLater Account can avail this facility.
Go to iMobile Pay > Scan merchant QR > Select PayLater EMI > Tenure > Submit

*applicable only for transactions of more than Rs <10,000>
*available only on iMobile Pay app

PayLater EMI is a loan within your PayLater limit. You will pay interest only on the amount availed under this facility and not on the total PayLater limit.

iMobile Pay > Log in > PayLater > My EMIs & Statements > My PayLater EMIs > View all active loans

Internet Banking > Log in > Bank Accounts > PayLater > View all active loans

Customers can contact our Phone Banking Team for the foreclosure of PayLater EMI Loan Account.

Payment options:

1. iMobile Pay app:

iMobile Pay > Log in > PayLater > My EMIs & Statements > My PayLater EMIs > View all active loans > Pending EMI > Pay dues

Internet Banking > Log in > Bank Accounts > PayLater > View all active loans > Pay dues

Important Note: Payment of the due amount against PayLater Account will not be settled in the EMI Loan Accounts

PayLater EMI is a separate Loan Account linked to PayLater. Separate payment will be required for each Loan Account. Payment of due amount against PayLater Account will not be settled in EMI Loan Accounts.

In case of a failed transaction, the Loan Account will be closed within <7> working days.

Such defaults will be reported to the Credit Bureau. Default charges and interest will be applicable on the outstanding amount every month.

PayLater Customers may discontinue/terminate PayLater by ICICI Bank by raising a request on the ICICI Bank Platform. On raising the request, PayLater Customers will be liable to pay the Total Amount Due and all such other charges, whether or not already reflected in the Account Statement

Customers can close the PayLater Account from the channels mentioned below -

• Customer care number: 18001080
• Customer care Email ID: customer.care@icicibank.com
• iMobile Pay application path: PayLater ->More options ->Request for account closure -> Select “reason for closure” and submit