Question
ICICI Bank has introduced an equated monthly instalment
(EMI) facility for UPI payments made by scanning QR codes. The facility will be available for customers eligible for the bank’s ‘buy now pay later’ scheme – PayLater.How much amount is decided above which the customers can pay in three, six, or nine monthly installments?Solution
ICICI Bank has introduced an equated monthly instalment (EMI) facility for UPI payments made by scanning QR codes. The facility will be available for customers eligible for the bank’s ‘buy now pay later’ scheme – PayLater.Customers can pay transaction amounts above Rs 10,000 in three, six, or nine monthly instalments. The EMI for PayLater will shortly be extended for online shopping too. The facility can be availed across a host of categories such as electronics, groceries, fashion apparel, travel, and hotel bookings.
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