To
begin with ICICI bank has only tied up
with Samsung for phones and consumer durable products
ICICI
Bank, the India’s largest private sector lender, has introduced an equated
monthly instalment (EMI) option for its customers on debit card purchases.
The
EMI option, which was so far limited to credit card holders, will now allow
even debit card holders to convert their high-value transactions into equated
monthly instalments.
Only
debit card holders who have fixed deposits of minimum Rs. 10,000 linked to the
savings bank account will be allowed to exercise this option of buying products
on an EMI of 3, 6, 9 or 12 months. The customer is not allowed to break the
fixed deposit till the end of the EMI term.
Mr.
Rajiv Sabharwal, Executive Director, ICICI Bank, said, “As we approach the
festive season, we believe this initiative will empower above 2.20 Cr ICICI
Bank debit card customers to buy products of their choice and pay in easy EMIs”
To
begin with ICICI bank has only tied up with Samsung for phones and consumer
durable products. Going ahead, the lender plans to add more brands under the
EMI option.
Mr.
Asim Warsi, Vice President, Mobile & IT, Samsung India, said, “The tie-up
will offer financial flexibility, drive engagement and create easy product
accessibility for our consumers. With the festival season around the corner, we
are confident that such exciting schemes will add to consumer
celebrations”
ICICI
Bank said in a statement that it is the first bank in the country to introduce
this facilit
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