Only those with anchored deposits with the coffer can account of this scheme. EMIs accept been anchored at three, six, nine and 12 months, the coffer said in an official statement.

Private area lender ICICI Coffer on Tuesday launched an equated account instalment (EMI) arrangement on debit agenda purchases, authoritative it the first-of-its-kind facility.

All debit agenda holders, however, are not acceptable for this facility. Only those with anchored deposits with the coffer can account of this scheme. EMIs accept been anchored at three, six, nine and 12 months, the coffer said in an official statement.

Under the EMI facility, the coffer will allegation an absorption bulk of 13 per cent on debit agenda purchases that will be affiliated to the bulk in anchored deposits.

Other banks action EMI ability to their acclaim agenda holders on purchases.

“As we access the blithe season, we accept this action will empower over 22 actor ICICI Coffer debit agenda barter to buy articles of their best and pay in accessible EMIs,” ICICI Coffer Executive Director Rajiv Sabharwal said in the statement.

The ability offers a three-pronged advantage to barter as they can advantage on their anchored deposits and acquire interest, while they boutique and pay EMIs as able-bodied as acquire accolade credibility on transactions, the account said.

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