It is common knowledge that transactions done through credit can be converted to EMI. And some banks allow conversion to EMI through debit card as well. But the UPI payment can also be converted to EMI…
It is common knowledge that transactions done through credit can be converted to EMI. And some banks allow conversion to EMI through debit card as well. But what if there is an option to convert the UPI payment to EMI as well.? Do you doubt how to convert UPI payment to EMI? Leading private sector bank ICICI has provided this facility for its customers. ICIC Bank’s ‘Pay Letter’ customers can avail this facility.
Any purchase of any item whose QR code is scanned through UPI can be redeemed under EMI. This EMI option is applicable for electronics, fashion, apparel, home appliances etc. But this purchase amount is at least Rs. Should be 10 thousand. Rs. Amounts above 10 thousand can be converted into EMI. In this regard, Bijit Bhaskar, Head of Digital Channel and Partnership, ICICI Bank, said that “We have brought the EMI facility after noticing that more people are using the Buy Now Pay Later services offered by ICICI recently.”
How to use this option
* First open the ICICI ‘iMobile’ app on your smartphone.
* After that you have to scan the QR code you want to make payment.
* Rs. If the amount is more than 10 thousand then you can choose EMI option.
* EMI options can be selected as three, six, nine months.
* After confirming the payment, the transaction will be completed.
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