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paylater

Where can we use PayLater?

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PayLater is available as a payment option at ICICI Bank payment gateway for making online purchases, in addition to the standard options like credit card, debit card and Pockets Wallet. For making a payment, simply choose your PayLater Account in the checkout page

Where can PayLater not be used?

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PayLater cannot be used for making Credit Card payments, or to transfer funds to other bank accounts or do any person to person funds transfer.

What is the limit that is available on my PayLater account?

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The limit of your Paylater account can range between Rs.5000 to Rs.20000, based on your eligibility. The limit will be preset for the customers to whom the invite is sent.

Can I use the PayLater UPI ID to transfer money to individual’s UPI ID?

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

How can I get the PayLater facility?

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PayLater by ICICI Bank is available to a set of customers on an invite- only basis. The customers for which the facility is available will receive the invite pop-up when they log into Pockets wallet, iMobile or Internet Banking.

Are there any charges involved in using Paylater?

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Customer shall be charged penal interest based on daily total outstanding post the ‘Pay by Date’. Additionally, customer shall also be levied fixed late payment charges, in subsequently generated bills until dues cleared.

How can I pay the Paylater dues?

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The PayLater dues will be debited automatically from your ICICI Bank Savings Account.

What happens if someone fails to pay their PayLater bills on time?

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In case customer payments are not received within 15 days from the bill generation date, customers would be charged late interest on the daily total outstanding on the total due amount, with interest calculation done from the bill due date.

How does PayLater work?

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You get upto 45-day zero interest digital credit. You can pay your bills, shop online and pay to any merchant UPI ID instantly.

Can I have multiple PayLater accounts linked to the various products of ICICI?

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No, you can have one Paylater account whose details will be reflecting in all eligible payment options.

Where all can I use the PayLater UPI ID for payments?

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PayLater UPI ID can be used for payments to any merchant UPI ID.

What is PayLater?

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PayLater is a digital credit product, similar to a Credit Card. With it you can make your purchases today and make payments within 45 days of the transaction date and no interest is charged.

Where all can I apply for the PayLater facility once I receive the invite?

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PayLater facility is available on Internet banking, iMobile and Pockets wallet

Can ICICI Bank change the approved credit limit allotted for PayLater Account after it is created?

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Yes. PayLater customer shall utilise the transaction limit under PayLater by ICICI Bank to make INR purchases. The renewal of PayLater by ICICI Bank shall be subject to ICICI Bank’s discretion. ICICI Bank reserves the right to review and reduce the transaction limit extended to PayLater customer at the time of renewal or at any other time at its sole discretion with or without any notice to the PayLater customer. However, enhancements to the transaction limit, if any shall be effected by ICICI Bank only after obtaining prior consent of the PayLater customer.