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Eligible transactions using alternate modes of payments:
| Sr. No | Alternate modes | Acceptable Transactions | Minimum Thresh hold amount per month |
|---|---|---|---|
| 1 | Bill Pay – Payment made to any utility billers (Gas Bill, Electricity Bill, Telephone bill) using ICICI Bank Bill Pay services. |
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| 2 | Standing Instruction for Recurring Deposit (RD) |
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| 3 | Standing Instruction (SI) Facility - SI is the debit instruction set by you in your savings account for fixed amount at a fixed frequency. |
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| 4 | Auto Debit Facility – Auto debit is the debit instruction provided by you to the beneficiary for debiting your ICICI Bank account. |
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| 5 | Expression Debit Card |
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| 6 | Systematic Investment Plan | Debit in Savings account towards Mutual fund SIP through any broker or any AMC. | Rs. 2,000 |
- Customer should have debit transaction in the enrolled savings account aggregating to Rs. 8,000 through any of the above 6 alternate mode as mentioned above. The debit transactions of Rs. 8,000/- should be done consistently for 6 months through the same 3 alternate modes. The minimum threshold amount defined against each mode has to be fulfilled.
- iMobile activation in all months in addition to above criteria mentioned in point 5.
- For customers who are already active on alternate modes even before they opted for the cashback Programme will have to undertake new transactions using defined alternate modes as per eligibility criteria mentioned above. For e.g. A customer who already has registered a SI has to set up a new SI post enrolment and make payment. Likewise a customer who already registered a biller before Programme enrolment date has to register a new biller post enrolment for making bill payment.
- Similarly transactions done through existing Expression Debit Card (EDC) will not be considered. The EDC issuance has to be post the programme start date.
- The debit criteria of Rs. 8,000 will be considered from M+2 month and continue till M+8 month where M being the month of account opening for new customers Customer need to register for the required mode of payments (alternate modes) to ensure that the debit transaction in savings account against each mode is enabled by M+2 month.
Illustration 1: (Assumption: customer doing the transaction in all six months)
| Scenario | iMobile Active | Payment through Bill Pay | Ecommerce Transaction through EDC | Auto Debit Facility | Fund transfer through Standing Instructions facility | Standing Instruction towards Recurring Deposit | Systematic Investment Plan | Aggregate Transaction Amount | Status |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Yes | Nil | Rs. 2,000 | Nil | Rs. 5,000 | Rs. 2,000 | Nil | Rs. 9,000 | Eligible |
| 2 | No | Rs. 2,000 | Rs. 3,000 | Rs. 5,000 | Nil | Nil | Nil | Rs. 10,000 | Not Eligible |
| 3 | Yes | Rs. 500 | Rs. 2,000 | Rs. 2,000 | Rs. 2,000 | Nil | Nil | Rs. 6,500 | Not Eligible |
| 4 | Yes | Rs. 2,000 | Nil | Rs. 2,000 | Rs. 2,000 | Nil | Nil | Rs. 8,000 | Eligible |
- In Scenario 1: Customer has activated four alternate mode products including iMobile and also met the threshold amount hence “Eligible”
- In Scenario 2: Though customer met threshold transaction amount through 3 alternate mode products but not activated his iMobile hence “Not eligible”
- In Scenario 3: Customer has activated all five alternate mode products including iMobile but not met the threshold amount hence “Not eligible”
- In Scenario 4: Customer has activated five alternate mode products including iMobile and also met the threshold amount hence “Eligible”
Illustration 2: (Assumption: customer doing transaction in all six months)
| Month | iMobile Active | Payment through Bill Pay | Ecommerce Transaction through EDC | Auto Debit Facility | Fund transfer through Standing Instructions facility | Standing Instruction towards Recurring Deposit | Systematic Investment Plan | Aggregate Transaction Amount | Status |
|---|---|---|---|---|---|---|---|---|---|
| M+2 | Yes | Nil | Rs. 2,000 | Nil | Rs. 5,000 | Rs. 2,000 | Nil | Rs. 9,000 | Eligible |
| M+3 | Yes | Rs. 500 | Rs. 2,000 | Nil | Rs. 5,000 | Rs. 2,000 | Nil | Rs. 9,500 | Eligible |
| M+4 | Yes | Nil | Rs. 2,000 | Nil | Rs. 4,000 | Rs. 2,000 | Rs. 500 | Rs. 8,500 | Eligible |
| M+5 | Yes | Rs. 1,000 | Rs. 3,000 | Nil | Rs. 4,000 | Rs. 2,000 | Nil | Rs. 1,0000 | Eligible |
| M+6 | Yes | Nil | Rs. 2,000 | Rs. 2,000 | Rs. 2,000 | Rs. 2,000 | Nil | Rs. 8,000 | Eligible |
| M+7 | Yes | Nil | Nil | Nil | Rs. 4,000 | Rs. 2,000 | Rs. 2,000 | Rs. 8,000 | Not Eligible |
| M+8 | No | Nil | Rs 500 | Nil | Rs. 5,000 | Rs. 2,000 | Rs. 2,000 | Rs. 9,500 | Not Eligible |
Above customer, though met the total threshold amount in M+7 month failed to qualify since he missed to activate same 3 alternate mode of payment criteria. He failed to activate E-commerce transaction through EDC.
- There are certain payments which can be done through multiple modes like setting up SI or giving auto debit towards insurance premium payment. Customer need to be aware of the mode of payment selected by him to ensure he meets the required eligibility criteria (having 3 mode of payments).
- If SI is set up towards payment to a registered Biller, the same will get considered only under Bill Pay.
- This will be a one-time offer which a customer can avail only once. One customer can avail the offer only against one account during the Programme period.
- Cashback will be credited in the savings account of the customer within 60 days after completion of the eligibility criteria of end of the offer period (i.e; 6 months)
Terms & Conditions: For detailed terms and condition click here
