Don’t get discouraged if you want to buy a mobile or laptop online on EMI and don’t have a credit card. ICICI Bank is offering the opportunity to buy up to Rs 5 lakh on EMI. The bank claims to be the first in the banking industry to offer convenient and instant cardless EMI facility for online shopping at retail stores. This new facility aims to allow lakhs of ICICI Bank pre-approved customers to instantly purchase products or services online through EMI in just a few clicks using their mobile phones and PAN.

ICICI Bank has said that customers can make purchases up to Rs 5 lakh in easy monthly installments by entering their registered mobile number, PAN and OTP (received on mobile number) in the check-out section of the e-commerce website or app. This facility can be availed across categories like electronics, home appliances, laptops, mobile phones, travel, fashion wear, sports wear, education and home decor.

The private sector bank has roped in digital lending platform FlexMoney, Lenovo, Lido to offer this facility across 2,500 brands including Bata, Bajaj Electricals, Career Launcher, D Decor, Decathlon, Duroflex, Flipkart, HealthifyMe, Henry Harwin Education, Curl-On Has tied up with Learning, Myntra, MakeMyTrip, Morphy Richards, Nokia, Only, Panasonic, Pristine Care, Raymonds, SimpleLearn, Tata Cliq, Think & Learn, Toppr, Vedantu, Vero Moda, Vijay Sales and Urban Ladder and Shopsay. At the same time, the bank will add more brands to this facility in future.

Advantages of Online Cardless EMI

Customers can avail EMI facility in a completely digital, instant and secure manner
Pre-approved limit for customer purchases from Rs.7,000 to Rs. Can get up to 5 lakhs.
Customers can choose the tenure of their choice from 3, 6, 9 and 12 months
No other bank in India offers this facility
The facility is available across 2,500 e-commerce brands across electronics, home appliances, laptops, mobile phones, travel, fashion, sports-wear and home decor.
How to choose cardless EMI online facility

Log on to the website/app of any of the 2,500 e-commerce brands
Choose products or services
Select ‘Cardless EMI’ as payment option
Enter registered mobile number
Enter PAN, followed by OTP
At this stage the transaction is approved immediately

ICICI Bank customers can check their eligibility for ‘Cardless EMI’ for online shopping by sending ‘Cardless’ SMS to ‘5676766’ or check the offers section on the iMobile app.