ICICI Bank To Replace Payback With The New ICICI Rewards Program

ICICI Bank has been rewarding its customers in the form of Payback Points for years and this is due to the strong and effective partnership between ICICI Bank and the Payback loyalty program. This partnership is now going to expire as the ICICI Bank has announced the launch of the new ICICI Rewards Program to replace the Payback Rewards, which will come into effect from April 1, 2022. All the ICICI Bank debit and credit cardholders will earn ICICI Bank Rewards on all their spends after March 31, 2022. To know more about the ICICI Rewards Program, keep reading the article:

ICICI Rewards Program

ICICI Rewards Program is going to be launched by ICICI Bank to reward its debit and credit cardholders which will be in effect from 1st April 2022, replacing the Payback Program. The program will bring a host of exciting offers and deals to provide its customers with a more rewarding experience. If you are an ICICI Bank cardholder, you will earn Payback Points on your spends till March 31, 2022, and ICICI Bank Rewards afterward. However, the ICICI Bank has not yet disclosed anything regarding the reward rate on different cards and the options to redeem the ICICI Rewards. But, from this page, we are assuming that the redemptions options will include flight/hotel bookings, gift vouchers, movie ticket bookings, etc.

Refer to the following points to understand the ICICI Bank Rewards Program & its terms and conditions in detail:

• All the ICICI Bank cardholders will earn ICICI Bank Rewards instead of Payback Points from April 1, 2022.
• The customers will be able to redeem their earned points against various options, including their credit card’s outstanding balance from July 1, 2022. The redemption can be done via the cardholder’s ICICI Rewards account.
• Cardholders can check their rewards summary from any ICICI bank channel, including internet banking, mobile app, etc, from May 31, 2022.
• The ICICI Rewards earned using an ICICI Credit Card will be credited to your ICICI Rewards account on the next day of your statement generation date every month.
• The ICICI Rewards earned using an ICICI Bank Debit Card in a month will be credited to your ICICI Rewards account on or before the last day of the next month.
• All the Payback Points earned before or on March 31, 2022, will be credited to the cardholder’s Payback account as usual and can be redeemed anytime before the normal expiry date of these points.

Also Read: Get Up To Rs. 2,000 Cashback On Insurance Payments Using Your ICICI Bank AmEx Credit Cards.

Bottom Line

The new Rewards Program that is to be launched by the ICICI Bank seems to be even more rewarding for the customers. If you are an ICICI Bank customer, you should be aware that you won’t be earning Payback Points anymore from the month of April. However, you don’t need to worry as all your earned Payback Points for the spends till March 31, 2022, will be credited to your Payback account and you can redeem them anytime before their expiry date. In case of any further doubts regarding the information provided above, make sure to ask us in the comment section below!