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India : ICICI BANK launches EMI facility on debit cards

August 21, 2014

ICICI Bank has announced launch of EMI (equated monthly instalments) facility on debit cards, allowing its customers to convert their high value transactions into easy instalments.

The country s largest private sector bank, has partnered with Samsung India to offer this facility across 9,000 stores in the country, which also includes large format retailers, multi-brand outlets and standalone stores, for purchase of Samsung products like mobile phones, tablets and consumer electronics, among others.

With this the bank becomes the first in the country to introduce this facility.

Rajiv Sabharwal, Executive Director, ICICI Bank, said, As we approach the festive season, we believe this initiative will empower over 22 million ICICI Bank debit card customers to buy products of their choice and pay in easy EMIs.

According to the bank, its debit cardholders having fixed deposits with the bank will get to avail themselves of this facility to buy products on EMIs of 3, 6, 9 or 12 months.

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Source: TendersInfo (India)

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