Terms and Conditions

Bank computes interest based on the actual number of days’ in a year. In case, the deposit is spread over a leap or a non-leap year, the interest is calculated based on the number of days. i.e. 366 days in a leap year & 365 days in a non-leap year.

Tax Deduction at Source (TDS)

• As per section 206AA introduced by finance (No.2) Act, 2009 wef 01.4.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at the rate of 20% (as against 10% which is existing TDS rate). in case of domestic deposits and 30% plus applicable surcharge and health and Education Cess in case of NRO deposits". Please further note that in the absence of PAN as per CBDT circular no: 03/11. TDS certificate will not be issued. In absence of PAN, Form 15G/15H and other exemption certificates will be invalid even if submitted and TDS at higher rate will be applicable.

• Every person who has been allotted a Permanent Account Number (PAN) and is eligible to obtain Aadhaar number, must link their PAN with Aadhaar as per provisions of Section 139 AA of the Income Tax Act 1961. Further non linking of PAN with Aadhaar shall make PAN “inoperative" and 
         1 ) TDS / TCS would be deducted /collected at Non PAN rate (including cash withdrawal) .
         2 ) Form 15G/H with inoperative PAN will not be accepted
         3)  Existing Form 15 G / H becomes ineffective till PAN remains inoperative.

• TDS is applicable from time to time as per the Income Tax Act, 1961 (IT Act) and Income Tax Rules, 1962. The current rates applicable for TDS would be displayed on Bank’s website. Currently, TDS is deducted when the aggregate interest paid / credited across all FDs, RDs exceeds the threshold limit of Rs. 40,000/- for residents and Rs. 50,000/- for resident senior citizens in a financial year (FY) for a customer. Further, Tax is deducted at the end of the financial year on Interest accruals, if applicable.

• In case of inoperative PAN (PAN not linked to Aadhar), TDS will be deducted @ 20% and no 15G/H form can be submitted during inoperative PAN period.

• If customer is non-ITR filer i.e specified person as per Income tax portal TDS will be deducted @ 20%.

• If customer wishes to have TDS recovered from CASA, same can be availed by filling separate declaration at branch. If interest Amount/Balance in CASA is insufficient to recover TDS, a hold will be marked on FD towards applicaaapplicable TDS amount. The TDS will be recovered on next interest payout, partial FD closure, premature closure or when sufficient funds are available in CASA

• For renewed deposits, the new deposit amount consists of the original deposit amount plus Interest Less TDS, if any, less compounding effect on TDS. For reinvestment deposit, the interest reinvested is post TDS recovery and "hence the maturity amount for reinvestment deposits would vary to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity.

• As Per Section 139A(5A) of IT Act, every person receiving any sum of income or amount from which tax has been deducted under the provisions of IT Act shall provide his PAN to the person responsible for deducting such tax. In case PAN is not provided as required, the bank shall not be liable for the non availment of the credit of Tax deducted at Source and non-issuance of TDS certificate.

• If your PAN is not updated with the Bank or is incorrect; please visit your nearest branch to submit your PAN details.

• No deductions of Tax shall be made from the taxable interest in the case of an individual resident in India, if such individual furnishes to the Bank, a declaration in writing in the prescribed Format (Form 15G / Form 15H as applicable) to the effect that the tax on his estimated total income for the year in which such interest income is to be included in computing his total income will be Nil. This is subject to PAN availability on Bank records.

• Deposit amount exceeding Rs 50 k or aggregated value of all outstanding FDs/RDs booked in same customer id during the Financial Year exceeds INR 5Lakhs limit (*) then PAN/Form 60 is mandatory.

• I agree to the Bank issuing certificate in the prescribed form for tax deducted at source on interest on Fixed Deposits, after the end of every calender quarter 

In absence of PAN/Form 60: (a) FD/RD will not be renewed on maturity and maturity proceeds will be credited to your linked account or a Demand Draft will be sent to your mailing address as updated in Bank's records. (b) Maturity instructions to convert RD proceeds to FD will not be acted upon and RD proceeds will be credited to your linked account on maturity.

The maximum interest not charged to tax during the financial year where form 15 G/H is submitted is as below:

• Upto 3, 00,000/- for residents of India below the age of 60 years or a person (not being a company or firm).

• Upto 7,00,000/- for senior citizen residents of India above the age of 60 years any time during the FY

• Form 15G/15 H to be submitted by customer in duplicate to the bank, one copy for Bank record and second copy to be returned to customer with Branch seal as an acknowledgment.

• Form 15G/15H needs to be submitted for every fixed Deposits booked with bank for Tax exemption.

• The bank shall not be liable for any consequences arising due to delay or non-submission of Form 15G/15H

• To enable us to serve you better kindly submit the Form 15G/15H latest by April 1st of the new financial year

Note: The above guidelines are subject to change as per Income Tax regulations /directives of Finance Ministry Govt of India prevalent from time to time.

Automatic Renewal We will be happy to renew your deposit, unless we hear from you to the contrary, for the same period as the original deposit, at the prevailing rate of interest. You can change the deposit instruction within 7 days. Without prejudice to clause above, I hereby authorise the Bank and/or its authorised person to approach me through various mode of communication, viz. via email, telephone call, voice bot (through chat bot or any other Artificial Intelligent Tool), message, etc. and seek my consent/confirmation to renew the existing Fixed Deposit for same tenure and at the prevailing applicable rate of interest. I confirm that the consent/confirmation given by me through the above channels for renewal shall be treated as written instruction / advice given by me to the Bank for renewal of the Fixed Deposit as above.

I agree that on maturity of my Fixed Deposit, in absence of my written instructions on disposal, the Bank reserves the right at its discretion to renew the deposit along with accrued interest thereon at prevailing rates of interest for a similar tenor of the deposit which has matured. 

Premature Encashment

• With effect from July 22nd, 2023, the interest rate applicable for premature withdrawal including Sweep-in/Partial Withdrawal will be 1% lower (as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.

• In the event of death of one of the joint account holders, the right to the deposit proceeds does not automatically devolve on the surviving joint deposit account holder, unless there is a survivorship clause.

• In case of joint fixed deposits with a survivorship clause, the Bank shall be discharged by paying the Fixed Deposit proceeds prematurely to survivor/s equally, on request, in the event of one or more Joint Depositor.

• In the case of premature encashment, all signatories to the deposit must sign the encashment instruction.

• All premature encashment will be governed by rules of Reserve Bank of India Prevalent at the time of encashment.

• As per IT laws, if aggregate amount of the deposit/(s) held by a person with a branch either in his own name or jointly with any person on the date of repayment together with the interest at payable is equal to or exceeds 20,000/- then the amount will be paid by bank draft drawn in the name of the deposit holder or by crediting the savings / current account of the deposit holder.

• Partial Premature withdrawal and sweep-in facility is not allowed for fixed deposits with amount>=5 cr to< 25 cr.

• Prior to 22nd July 2023, the applicable rate for  Premature  Withdrawal (for all deposits including Sweep-in / Partial Withdrawal), will be 1% below (as reduced rate ) of the lower of either: 

           a) The rate for the original /contracted tenor for which deposit has been booked  or
           b) The base rate* applicable for the tenor or which the deposit has been in force with the bank. The base rate will be as follow -

                        ( I ) For deposits < 5 crore booked on or after 7th March’19, the base rate (mentioned above in point b) is the rate applicable to deposits of less than Rs. 2 Crore as on the date of booking the deposit. Prior to this the base rate is the rate applicable to deposits of less than Rs.1 Cr as on date of booking the deposit.  
                    ( II )  For 5 Crore and above deposits, the base rate is the rate applicable for 5 crore deposits.

• The base rate applicable is the interest rate of the date of deposit acceptance under tenor for which the deposit has been in force with the bank.

• Premature closure of deposit attracts penal charges of 1% as mentioned above, except below scenarios –
   a) Deposit booked with tenor 7-14 days

            b) Single Deposit booked with amount >= 5.25 Cr to < 5.50 Cr (wef 29th Aug 2018)

            c) Single Deposit booked with amount >=24.75 Cr to < 25 Cr (wef 29th Aug 2018)

            d) Single FD booked with value >=25 crore (post Sept 2017)

            e) Customer deceased

            f) NRE fixed deposits.

• In case of death of any holder of the deposit prior to maturity date, premature termination of the deposit would be allowed as per the terms of contract subject to necessary verifications and submission of proof of death of the depositor. Such premature withdrawals will not attract any penal charge.

• I agree that in case of premature withdrawal of my fixed deposit based on my instructions or the instructions of all the joint depositors in the case of joint deposit, the bank shall have the right to recover interest already paid or the penalty (reduced rate), if any, from the proceeds of the fixed deposit in accordance with prevailing regulations of the bank and the Reserve Bank of India.

• I agree that the bank will pay the Fixed Deposit amount either on maturity or premature withdrawal at any branch irrespective of the branch where the deposit is booked. 

• In case of premature liquidation of the fixed deposit against which the overdraft has been taken, the rate applicable on the overdraft utilized will remain unchanged as per RBI regulations.

• Fixed Deposit Liquidation on NetBanking is available only for Single Holding Deposits of Individual Customers.

• Central or State Government establishments such as Apex Bodies, Union Government, State Government, Union Territories Government, Legislature, Judiciary, Embassies, Missions, Panchayat, District, Local Body and certain other entities which are 100% owned by Government shall be eligible for exemption from penalty (reduced rate) applicable on premature withdrawal of Fixed deposits for Deposits booked/renewed on or after 1st July’23. Customers who wish to avail this facility on new booking or renewal, are requested to visit nearest Branch prior to new booking or date of renewal of deposit with request letter and requisite documents (if required). For more details, Please contact your Branch/Relationship Manager. Please note this facility will not be available for online booking of FD.

Insurance Cover for Deposits

The deposits in the Bank are insured with DICGC for an amount of Rs 5 lakhs (principal + interest) per depositor

Non Withdrawable Fixed Deposits (Applicable for Resident and Non Resident)

• The Deposits cannot be closed by the depositor before expiry of the tenure. However, the Bank may allow premature withdrawal of these deposits in certain exceptional circumstances, in the event of direction from any statutory and / or regulatory body or deceased claim settlement cases.

• In the event of premature withdrawal of these deposits under above mentioned exceptional circumstances (except for deceased claim settlement case), the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of such premature closure will be recovered from the deposit 

• With effect from July 22^nd, 2023, the interest rate applicable for premature withdrawal in the event of death claim,  will be the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.

• Prior to  July 22^nd, 2023, In the event of premature withdrawal of these FDs due to death claim , interest to be paid to the claimant. The interest rate applicable on such withdrawal will be the contracted rate or the base rate applicable for the period the deposit has remained with the bank, whichever is lower. For deposits 2 crore to < 5 crore, the base rate is the rate applicable to deposits of 2 crores as on the date of booking the deposit. For deposits >=5 crore, the base rate is the rate applicable to deposits of 5 crores as on the date of booking the deposit. 

• Sweep-in facility is not allowed.

• The deposit is allowed for Non-Resident Category also. The minimum tenor for NRE deposit is 1 Year. 

• The minimum tenor for resident and NRO deposits of 2 crores is 1 year and 89 days for 5 crore & above

• The deposit will be booked with maturity instruction as ‘Do Not Renew’.

• The Non-Withdrawable Deposit is offered for amount 2 crore and above only.

Overdraft Facility /Advances are NOT allowed against Non-withdrawal Fixed Deposit and it continue to remain not eligible for any security collaterals like issuance of Letter of Credit / Bank Guarantee or any other margins etc


SureCover Fixed Deposit

• This is a new product variant which provides complimentary term life insurance cover for the 1st year of the Fixed Deposit tenure to the primary holder of the Fixed Deposit (FD) only and the same shall not be available for the joint holders (if any). The Policy shall be available subject to the below terms and conditions.
• The Policy offered shall be equivalent to principal amount of the FD
• The Complimentary insurance is applicable only for 1st year of the Fixed Deposit tenure and the premium for the subsequent years i.e. 2nd year onwards (if availed) shall be chargeable and paid by the primary holder of the FD.
• The complimentary Policy issued in my favour shall be cancelled upon premature/partial liquidation of FD principal amount >=50% of the total FD booked by me. Also, if the same is force closed by the bank due to non-servicing of OD against FD
• Premature withdrawal clause will be applicable as per bank’s extant process
• Nomination in the FD and Policy is mandatory. If nominee is minor, guardian/ appointee details should be shared and guardian/ appointee should not be minor.
• Customer can avail only one Policy against each FD per cust id. New Policy against the FD can be availed only after a year from premature withdrawal/closure of the earlier FD
• Insurance cover will be applicable only to the primary holder of the FD
• If a primary applicant changes the date of birth, name etc after SureCover fd is booked and if the details are not as per the eligibility defined for the product, claim will not be settled for such cases
• The details for the renewal of the Policy for the subsequent year (i.e. 2nd year onwards) shall be shared by the concerned Insurance company on or before the expiry of the Policy.
• For any dispute/grievances in relation to the Policy, Customer to contact the Insurance Company for grievance redressal.
• For any queries related to the policy, customer can write to cpgroupops@hdfclife .com or visit nearest branch
• For any queries related to the claim, customer can write to groupclaims@hdfclife.com
• TDS will be applicable on these FDs as per the extant statutory guidelines.
• All terms and conditions with respect to regular FD will be applicable.
• That the eligible age criteria of the primary holder of the FD shall be between 18 years to 50 years. In the event of the change in age of member between the date of receipt of member consent and the risk commencement date, the sum assured of the member shall be provided as per the age on the risk commencement date.
• The coverage shall terminate if you fail to satisfy any of the eligibility criteria, if you cease to be a member of the group for whatsoever reason or your relationship ceases with the master policy holder or if the premium is not paid within the allowed premium payment period
• Nominee details updated are applicable only for current Policy being issued in the name of the primary holder
• On change of status i.e. from resident to non-resident, benefits of SureCover FD will be discontinued and SureCover FD will have to be closed  
  In case the above mentioned Terms and Conditions and declarations are untrue or there has been any non-disclosure of any material fact, then the Policy to be issued by the insurer shall be treated as void during the settlement of the said Policy by the Insurer. 
  
  Please refer to data privacy notice updated on HDFC Bank’s website: www.hdfcbank.com > Personal> Useful Links > Privacy 
  
  Please refer website www.hdfcbank.com for detailed terms and conditions.

Health Cover FD

• This is a new product variant which provides complimentary Group Hospital Cash Cover for the 1st year of the Fixed Deposit tenure to the primary holder of the Fixed Deposit (FD) only and the same shall not be available for the joint holders (if any). The Policy shall be available subject to the below terms and conditions.
• The value of Policy offered shall be dependent on principal amount of the FD. Hospital Cash cover Rs 500 per day for 15 days: FD amount >=5 lacs to < 10 lacs and Hospital Cash cover Rs 1000 per day for 15 days: FD amount >= 10 lac to 1.99 cr
• The Complimentary insurance is applicable only for 1st year of the Fixed Deposit tenure
• The complimentary Policy (Group Hospital Cash) issued in my favour shall be cancelled upon premature/partial liquidation of FD principal amount >=50% of the total FD booked by me. Also, if the same is force closed by the bank due to non-servicing of OD against FD
• Nomination in the FD and Hospital Cash Cover (Policy) is mandatory. If nominee is minor, guardian/appointee details should be shared and guardian/appointee should not be a minor
• Customer can avail only one Hospital Cash Cover (Policy) against each FD per cust id. New Hospital Cash Cover (Policy) against the FD can be availed only after a year from premature withdrawal/closure of the earlier FD
• Insurance cover will be applicable only to the primary holder of the FD
• The details for the renewal of the Hospital Cash Cover (Policy) for the subsequent year (i.e. 2nd year onwards) shall be shared by the concerned Insurance company on or before the expiry of the Policy
• For any dispute/grievances in relation to the Policy, Customer to contact the Insurance Company for grievance redressal
• For any queries related to the policy, customer can write to Abhi.grievance@adityabirlacapital.com or visit nearest branch
• For any queries related to the claim, customer can write to Abhi.grievance@adityabirlacapital.com
• TDS will be applicable on these FDs as per the extant statutory guidelines
• All terms and conditions with respect to FD will be applicable
• That the eligible age criteria of the primary holder of the FD shall be between 18 years to 59 years. In the event of the change in age of member between the date of receipt of member consent and the risk commencement date, the sum assured of the member shall be provided as per the age on the risk commencement date
• Health insurance product (Group Hospital Cash) belongs to insurance company (Aditya Birla Health Insurance) and the claim settlement will be as per Insurer’s process and Bank does not have any role to play in the same
• The coverage shall terminate if you fail to satisfy any of the eligibility criteria, if you cease to be a member of the group for whatsoever reason or your relationship ceases with the master policy holder or if the premium is not paid within the allowed premium payment period
• Nominee details updated are applicable only for current Hospital Cash Cover (Policy) being issued in the name of the primary holder
• On change of status i.e. from resident to non-resident, benefits of HealthCover FD will be discontinued and HealthCover FD will have to be closed
• If a primary applicant changes the date of birth, name etc after HealthCover fd is booked and if the details are not as per the eligibility defined for the product, claim will not be settled for such cases
• Benefits under hospital cash shall not be payable for more than 15 days per Hospitalization claim per Policy Year
• Benefits under hospital cash shall not be payable for more than 15 days per Policy Year
• Benefits under hospital cash will trigger only after a Deductible of 1 day
• Specified Disease / Procedure waiting period: A waiting period of 24 months from the Inception Date shall apply to the treatment, whether medical or Surgical and of the Illness/conditions and their complications mentioned in Annexure I. Please refer website for Annexure I
• Pre- Existing Diseases Waiting Period Payment will not be done for any claim in respect of any Insured Person directly or indirectly caused by, based on, arising out of, relating to or howsoever attributable to any Pre-Existing Diseases or any complication arising from the same, until 4 years in this regard has elapsed since the Start Date of the first Policy with Us
• Initial waiting period: A waiting period of 30 days from the Inception Date of the Policy will be applicable for all Hospitalisation claims except in case of Accidents.
• Permanent Exclusion- Aditya Birla Health Insurance company shall not be liable to make any payment for any claim under any Benefit in respect of any Insured Person directly or indirectly caused by, based on, arising out of, relating to or howsoever attributable to any of the reasons mentioned in Annexure II. Please refer website for Annexure II

GOOD Health Declaration

I/We hereby declare that I/We are not suffering from or have been diagnosed with advised taken treatment or observation is suggested or undergone any investigation or consulted a doctor or undergone or advised surgery for any one or more from the following

a. High Blood Pressure, Heart Attack or any other Heart Disease, abnormal lipid levels;
b. Stroke, Paralysis in any form, or any other Cerebrovascular Disease;
c. Diabetes or thyroid/parathyroid or any other Endocrinal Disease, Any Kidney Disease;
d. Acute / Chronic Liver (Failure/ Disease), Cirrhosis of Liver, Alcoholic liver disease; any pancreatic disease
e. Any Lung Disease (e.g. Chronic Obstructive Pulmonary Diseases, Parenchymal lung Disease, Pulmonary Embolism etc.).
f. Blood Disorders, Gastro-Intestinal Diseases, Ulcer or any other disorder of the bones, spine or muscle;
g. Any Cancer or Cancerous growth;
h. Any Mental or Psychiatric condition, any Genetic Disease, autoimmune or any disease related to central nervous system (disease related to brain); Congenital conditions; 
i. HIV / AIDS or AIDS related complications,
j. Covid positive in last 3 months
k. Any h/o sudden loss of weight in last 1 yr

In case the above mentioned Terms and Conditions and declarations are untrue or there has been any non-disclosure of any material fact, then the Policy to be issued by the insurer shall be treated as void during the settlement of the said Policy by the Insurer.

Please refer to data privacy notice updated on HDFC Bank’s website: www.hdfcbank.com > Personal> Useful Links > Privacy Please refer website www.hdfcbank.com for detailed terms and condition

Senior Citizen Care Deposit 

I have read and agreed to the below terms and conditions of Senior Citizen Care FD ( w.e.f 18th May’20 to 1^st May’24 )  

• An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18^th May'20 to 1st May 2024.  This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indian. 
• With effect from July 22^nd, 2023, In case of premature closure of Fixed Deposit booked in the above offer (including sweep in / partial closure) on or before 5 years, the interest rate will be 1.00% less (reduced rate as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.
• With effect from July 22^nd, 2023, In case of premature closure of Fixed Deposit booked in the above offer (including sweep in / partial closure) post 5 years, the interest rate will be 1.25% less (reduced rate as applicable) of the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate.
• All other terms and conditions as applicable to Fixed Deposit shall remain unchanged and the same shall be applicable to the above fixed deposit too.

Payout via neft option. 

• The option for transfer of Fixed Deposit proceeds through NEFT to the other bank can be opted when customer does not hold any Current / Savings account with HDFC bank. The account number mentioned for NEFT to be in the name of the primary Fixed Deposit holder. In case of Joint mode of operation in the Fixed Deposit (FD), then the account number mentioned for NEFT should be in the same holding pattern as the FD. If the NEFT gets rejected by the beneficiary bank, Managers cheque will be issued on the next working day. Request for Premature redemption /Partial closure of FD cannot be processed, if received post business cut off time or on the day when it is holiday for the NEFT. Please refer website for detailed T&C on NEFT/ RTGS transactions. The credit through NEFT will be purely effected basis the account number mentioned on form . Bank will not hold responsibility if an incorrect account number is given.

Five Year Tax Saving Fixed Deposit:

• There is a lock in period of 5 years. Premature/Partial withdrawal is not permitted in a Five Year Tax saving FD
• Only Individuals & HUF can invest in Five Year Tax Saving FD
• A minimum amount of Rs 5,000 and in multiples of Rs 100 thereafter & maximum of Rs 1.5 lacs can be invested per cust id in a FY in a Five Year Tax Saving FD
• Physical advice is sent to the mailing address registered with the Bank. In case of loss, theft, destruction, mutilation or defacement of this receipt, a duplicate receipt will be issued  only on furnishing an Indemnity bond in the prescribed form with one or more approved sureties or with a bank guarantee
• The Tax saving FD cannot be pledged to secure a loan or as security to any other asset.
• FD OD cannot be availed against Five Year Tax Saving FD
• Nomination will not be allowed in a minor Five Year Tax saving FD
• Customer can book Five Year Tax Saving FD  with monthly/quarterly interest payout option
• In the case of joint Five Year Tax Saving Fixed deposits, the Tax benefit under 80 c will be available only to the first holder of the deposit

Important Points: 

• Customer agrees that Bank can act upon the SMS/Missed call received within stipulated time from the Registered Mobile no. with the Bank and shall not be held responsible in case of any dispute with respect to the booking of FD through SMS/Missed call Banking if Bank has acted upon the SMS/Missed Call received from the Registered Mobile No.  

• Senior Citizen Individuals (60 years and above) who are Resident Indians are eligible for senior citizen rates for deposits less than 5cr (except for non-withdrawable deposits) 

• It is reiterated that the interest rate applicable on multiple deposits, across all channels, made by the same customer in a single day in one particular tenor bucket would be the rate which is applicable for the aggregate value or the individual value whichever is lower  

• Tenor Bucket "means the various tenure slabs as updated in the interest rate sheet on the website . For ex: e.g.” 1 Y 1d to 2 Y “ is one particular tenor bucket, similarly “ 5 Y 1 d to 10 Y “ is also one particular tenor bucket. 

• Any interest / maturity payout less than or equal to Rs 100/- on Term Deposits shall be credited to the savings or current account, irrespective of the instruction given at the time of booking of the deposit or change anytime during the tenure of the deposit. 

• Benefit of additional interest rate on deposits on account of being bank’s own staff or senior citizens shall not be applicable to NRE and NRO Deposits. 

• Please quote the Deposit Account Number in all Communication. 

• Fixed Deposit booked through any channel cannot be liquidated on the same day via Net/Mobile banking and can be liquidated only through branch 

• Fixed Deposit Advice (FDA) will be sent to the Customer on booking & renewal of the Fixed Deposit at his/her registered email address. In case of any discrepancy noticed / dispute / complaint by the Customer with regard to the details indicated in the FDA, the same should be brought to the notice of the the Bank within 7 days from the the date of the email, failing which the Bank shall consider that Customer has accepted the same and thereafter no dispute/complaint/request for change, etc.  shall be entertained. 

• Please record change of maturity instructions with us well in advance to enable us serve you better. 

• FD advice as per extant process will be sent to the customer via Email/ Physical. Email id is mandatory. 

• Any changes made online in respect to change in maturity instruction / tenure, details can be viewed online post the changes. 

• Please ignore this advice If you have redeemed or renewed this deposit on or after the maturity date as mentioned herein. In case of Renewals you will receive a new Fixed Deposit Confirmation / renewal advice. 

• Rate applicable on monthly interest option will be discounted rate over the standard FD Rate. 

• In case of more than one deposit linked for Sweep-In, the system will first Sweep-In funds from the last or recently opened deposit i.e. on LIFO(Last-In-First-Out) basis. 

• Incase both overdraft against FD and Sweep in is linked to account. Overdraft limit will be utilized first 

• In case your fixed deposit is booked without nomination details, please visit the Branch to update the same. 

• In case of NRO / Resident FD, no interest will be paid if the deposit is prematurely withdrawn before completion of 7 days. 

• In case of NRE FD interest will not be paid if the deposit is prematurely withdrawn before completion of 1 year. 

• Form 15G/H is not applicable to NRIs 

• TDS is not applicable for Interest earned on NRE deposits. 

• Fixed Deposits booked with monthly or quarterly interest payout option, TDS recovery will by default happen from linked current / savings account. Please visit nearest branch / contact RM for further clarification 

• When you open a Fixed deposit with the Bank Interest on Term Deposit is calculated as below: 

• On a Quarterly basis for deposits > 6 months. 
  Simple interest is paid at maturity for deposits <= 6 months. 

• Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the principal such that Interest is paid on the Interest earned in the previous quarter as well. 

• In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate. 

• If FD is not booked / renewed as per applicable T &C, Bank reserves the right to rebook the same with correct details. Please visit our nearest branch / contact Relationship Manager for further clarification 

• In case of Non-filer of income Tax return, TDS shall also be deducted at higher rate as provided by the Section 206AB, w.e.f 1-Jul-2021. 

• Income-tax provisions outlined in this document are updated as of the Finance Act, 2021. 

• In case of third party fixed deposit , lien is marked only on principal amount of the deposit 

• For Resident & Non-Residents rupee deposits- Rounding off is done basis RBI guideline, RBI/2011-12/56 DBOD No. Leg.BC.18/09.07.006/2011-12. All transactions, including payment of interest on deposits/charging of interest on advances, will be rounded off to the nearest rupee i.e., fractions of 50 paise and above shall be rounded off to the next higher rupee and fraction of less than 50 paise shall be ignored and in case of Foreign currency deposits i.e. FCNR Deposits the rounding off will be done up to two decimal places

Payment of interest

• Interest on a Recurring Deposit will be calculated from the date the instalment is paid.

• The method of calculation of interest on RDs will be on Actual / Actual Quarterly Compounding. Bank computes interest based on the actual number of days in a year. In case, deposit is spread over a leap or a non-leap year, interest is calculated based on the number of days i.e. 366 days in a leap year & 365 days in a non- leap year.

• The interest for Recurring Deposits will be corresponding rate as applicable for a Fixed Deposit.

• Interest on the deposits is compounded at quarterly intervals, at the applicable rates.

• Interest payment on Recurring deposit is only on maturity.

Resident-Lock in period

• The Recurring Deposits account has a minimum lock in of one month.

• In case of premature closure within a month, no interest shall be paid out & only principal amount shall be returned.

NRI-Lock in period

• The minimum lock in period for NRE RD is one year and NRO RD is one month.

• In case of premature closure within a year and NRO RD within a month, no interest will be paid out to the depositor & only principal amount shall be returned.

Maturity

• The deposit shall be due for repayment & shall mature on completion of the contracted tenure even if there are installments remaining to be paid.

• The maturity amount mentioned on the Recurring Deposit confirmation advice is subject to payment of all installments on time.

• In case of any delay in payment of scheduled installments, the maturity amount shall change due to delay in payments.

• Maturity amount mentioned on the confirmation advice shall also change in case of TDS recovery

Payment of Installment

• The Installment amount once fixed will not be allowed to be altered at a later date.

• In case of more than one installment is being overdue at the time of payment, the paid installment if sufficient to cover only one. installment will be appropriate towards first/earliest installment overdue.

• Partial payment of installment will not be permitted.

• HDFC bank shall not be responsible for informing the depositor to maintain adequate balance in his/her HDFC bank account in recurring deposit to pay his/her installments in the event of failure of the standing instruction due to shortfall of funds in the transacting amount.

Overdue Installments

If frequent defaults (non-payments) are observed in the monthly installments and six installments fall in arrears, the bank reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the bank.

Premature withdrawal

• In the case of premature encashment, all signatories to the deposit must sign the encashment instruction.

• In the event of death of one of the joint account holders, the right to the deposit proceeds does not automatically devolve on the surviving joint deposit account holder, unless there is a survivorship clause.

• In case of joint deposits with a survivorship clause, the Bank shall be discharged by paying the Deposit proceeds prematurely to survivor/s equally, on request, in the event of one or more Joint Depositor.

• Partial withdrawal/ sweep in / OD not allowed on Recurring deposits.

• All premature encashment will be governed by rules of Reserve Bank of India prevalent at the time of encashment.

• As per Income Tax laws, if the aggregate amount of the deposit/(s) held by a person with the branch either in his own name or jointly with any person on the date of repayment together with the interest at payable is equal to or exceeds 20,000/- then the amount will be paid by bank draft drawn in the name of the deposit holder or by crediting the savings/ current account of the deposit holder.

• With effect from July 22^nd, 2023, the interest rate applicable for premature withdrawal  will be the rate on the date of deposit booked, to the period for which deposit remained with the bank and not at the contracted rate

• In case of death of any holder of the Recurring deposits prior to the maturity date, premature termination of the deposit would be allowed as per the terms of contract subject to necessary verifications and submission of proof of death of the depositor. 

• Such premature withdrawals will not attract any penal charge. 
  
  Insurance Cover for Deposits
  
  The deposits in the Bank are insured with DICGC for an amount of Rs 5 lakhs (principal + interest) per depositor
  
  
  Tax Deduction at Source (TDS)

• Interest paid on resident recurring Deposit would be liable to TDS (Tax Deducted at Source) @10%, under section 194A similar to that of interest paid on FD. TDS applicable on interest paid on NRO RD would be @ 30% plus applicable surcharge (Not Applicable for NRE RD).

• Every person who has been allotted a Permanent Account Number (PAN) and is eligible to obtain Aadhaar number, must link their PAN with Aadhar as per provisions of Section 139 AA of the Income Tax Act 1961. Further non linking of PAN with Aadhaar shall make PAN “inoperative” and may attract higher TDS rate post the date as notified by CBDT. 

• TDS rates will be as applicable from time to time as per the Income Tax Act, 1961 and Income Tax rules. The current rates applicable for TDS would be displayed by the Bank on Its website. Currently, TDS is deducted when interest payable or reinvested on FD AND RD per customer, across all Branch, exceeds Rs 40,000/- (Rs. 50,000/- for senior citizen) in a Financial Year. Further, TDS is deducted at the end of the financial year on Interest accruals if applicable.

• If customer wishes to have TDS recovered from CASA, same can be availed by filling separate declaration at branch.

• If interest amount is not sufficient to recover the TDS amount the same may get recovered from the principal amount of Fixed Deposit. If customer wishes to have TDS deduction from CASA, same can be availed by filling separate declaration at branch.

• As Per Section 139A(5A) of the Income Tax Act, every person receiving any sum of income or amount from which tax has been deducted under the provisions of the Income Tax Act shall provide his PAN number to the person responsible for deducting such tax. In case your PAN is not updated with the Bank or is incorrect; please visit your nearest HDFC Bank branch to submit your PAN details.

• In case the PAN number is not provided to the Bank as required, the bank shall not be liable for the non availment of the credit of Tax deducted at Source and non-issuance of TDS certificate.

• No deductions of Tax shall be made from the taxable interest in the case of an individual resident in India, if such individual furnishes to the Bank, a declaration in writing in the prescribed Format (Form 15G / Form 15H as applicable) to the effect that the tax on his estimated total income for the year in which such interest income is to be included in computing his total income will be Nil. This is subject to PAN availability on Bank records.

• Deposit amount exceeding Rs 50 k or If aggregated value of all outstanding FDs/RDs booked in same customer id during the Financial Year exceeds INR 5Lakhs limit (*) then PAN/Form 60 is mandatory.

• In absence of PAN/Form 60:

• (a) FD/RD will not be renewed on maturity and maturity proceeds will be credited to your linked account or a Demand Draft will be sent to your mailing address as updated in Bank's records.

• (b) Maturity instructions to convert RD proceeds to FD will not be acted upon and RD proceeds will be credited to your linked account on maturity.

The maximum interest not charged to tax during the financial year where form 15 G/15H is submitted is as below:

• Upto 3, 00,000/- for residents of India below the age of 60 years or a person (not being a company or firm).

• Upto 7,00,000/- for senior citizen residents of India above the age of 60 years any time during the FY

• Form 15 G / 15H should be submitted by customer in Triplicate copy to the bank, for submitting one copy to Income Tax Department, one copy for use by Branch and the third copy to be returned to the customer with Branch seal as an acknowledgment copy.

• A fresh Form 15G / 15H needs to be submitted in each new Financial Year by the start of the Financial Year. In case form 15G/15H is submitted post interest payout/credit, waiver shall be effective from the day next to the interest payout /credit immediately preceding the date of submission of form 15G/15H.

• Form 15G /15 H needs to be submitted for every recurring Deposits booked with bank for Tax exemption.

• The bank shall not be liable for any consequences arising due to delay or non-submission of Form 15G/ Form 15H

• To enable us to serve you better kindly submit the Form No. 15G/15H latest by April 1st of the new financial year.

Note: The above guidelines are subject to change as per Income Tax regulations / directives of Finance Ministry Govt of India prevalent from time to time.

Important Points:
​​​​​​​

• Please record change of maturity instructions with us well in advance to enable us serve you better.

• FD advice as per extant process will be sent to the customer via Email/ Physical. Email id is mandatory. 

• In case if the RD is not booked as per the applicable T & C of the bank, Bank reserves the right to rebook the same with correct details.

• Minimum installment is Rs. 500. (in multiples of 100 thereafter) Maximum installment: 1.99 Cr.

• Minimum tenure for resident and NRO RD is 6 months (and in multiples of 3 months thereafter) upto a maximum of 10 years and minimum tenure for NRE RD is 1 year.

• Only Senior Citizens / Retired Personnel (60 years and above) who are Resident Indians are eligible for senior citizen rates. The senior citizen rates are applicable only for Resident deposits.

• The benefit of additional interest rate on deposits on account of being bank’s own staff or senior citizens shall not be applicable to NRE / NRO Deposits.

• Form 15G/15H is not applicable to NRIs.

• Please Ignore this advice if you have redeemed this deposit on or after the maturity date as mentioned herein.

• Any changes made online in respect to change in maturity instruction / tenure, details can be viewed online itself post the changes.

• In case your recurring deposit is booked without nomination details, please visit the Branch to update the same.

• Please visit our website / nearest branch / contact Relationship Manager for further clarification.

• In case of Non-filer of income Tax return, TDS shall also be deducted at higher rate as provided by the Section 206AB w.e.f 1-Jul-2021.

• Income-tax provisions outlined in this document are updated as of the Finance Act, 2021. 

• *Senior Citizen Care deposit  (w.e.f 18th May’20) : An Additional Premium of 0.25% (over and above the existing premium of 0.50%) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from 18th May'20 to 31st Mar’2023. This special offer will be applicable to new Fixed Deposit booked as well as for the Renewals, by Senior Citizens during the above period. This offer is not applicable to Non-Resident Indian.

• For Resident & Non-Residents rupee deposits- Rounding off is done basis RBI guideline, RBI/2011-12/56 DBOD No. Leg.BC.18/09.07.006/2011-12. All transactions, including payment of interest on deposits/charging of interest on advances, will be rounded off to the nearest rupee i.e., fractions of 50 paise and above shall be rounded off to the next higher rupee and fraction of less than 50 paise shall be ignored and in case of Foreign currency deposits i.e. FCNR Deposits the rounding off will be done up to two decimal places   

Terms and Conditions for Usage of SmartPay Services:

1. The term "SmartPay" shall mean standing instructions for direct debit authorization of customers’ HDFC Bank Credit Card, Debit Card and Account towards bill payment of presentment Billers, Payee/payment Billers and Presentment and payment covered under the “BillPay & Recharge” section of Net Banking.  

• Presentment Billers: Billers that present an electronic bill (i.e., you will receive the bill electronically through the HDFC Bank Bill Payment service) and accept a payment against the presented bill.   
• Payee/Payment Billers: Billers that do not present an electronic bill, but accept instant or adhoc payments.   
• Presentment and Payment: Billers that present  an electronic bill as well as accept instant or adhoc payments. 

2. SmartPay application form should be filled by the primary cardholder/Accountholder. The facility will be available only on the designated Credit Card/Debit Card/Bank account and no other account or card held with the Bank. It can also be availed through Net Banking / Mobile Banking platform. 

3. HDFC Bank reserves the right to approve / reject the registration forms without assigning any reason whatsoever. 

4. HDFC Bank reserves the right to revoke / stop this facility if the credit behaviour on the card/ Bank Account is unsatisfactory. 

5. Customer agrees that he / she would fill up a new SmartPay application form or modify existing biller registration details through Net banking/Mobile Banking when the Credit Card/ Debit card/Bank Account details, address or any biller detail provided earlier during registration is transferred or changed. 

6. It will be the responsibility of the customer to inform HDFC Bank in writing of any change or withdrawal of the SmartPay facility thus availed. Such change or withdrawal will take 30 days to be effective upon receipt of customer request. Failure of the customer to do the same and subsequent debits, if any, towards utility payments will constitute valid transactions and the customer will be liable to pay the same. 

7. Any disputes arising out of disconnection of the utility facility, penalty from government and late charges on instalment dues arising due to change / revocation of the facility will be the sole responsibility of the cardholder and the cardholder will not hold HDFC Bank responsible / liable for the same. 

8. Certain utilities / service providers may specify the date on which payment is to be made, notwithstanding any instructions given by the cardholder in this regard, HDFC Bank shall remit the payment any time before the payment due date specified by the utilities / service providers in the e-bill given to the bank. 

9. Without prejudice to the generality of the aforesaid, processing of all the instructions is subject to the availability of free, clear and available limits in the designated card/account at the time of processing the transaction. In the event of credit limit or available balance not being wholly sufficient, HDFC Bank shall not process the instructions and shall not make payments to the utility company. Bank is not liable in any such circumstances. 

10. The cardholder indemnifies HDFC Bank from and against all actions, suits, claims, liabilities and proceedings due to or arising out of any or all disputes between the cardholder and utility companies or by reason of HDFC Bank acting in good faith or refusing to take or omitting to act on the SmartPay facility. 

11. HDFC Bank shall not be liable to the customer for any loss or damage whatsoever or howsoever arising directly or indirectly including without limitation due to delay or failure to give effect to the SmartPay facility. 

12. HDFC Bank will endeavour to effect payments / carry out instructions received by it within the payment due date to each utility company. However, HDFC Bank does not warrant that payment / fulfilment of instructions will not be delayed for reasons beyond its control. As the instructions would depend on various electronic technology used from time to time, there could be delays in receipt of any instructions by HDFC Bank from the customer and by the provider of utilities / services. 

13. HDFC Bank will not in any way be connected with the disputes between utility companies and the customer. This facility is available only for utility bills pertaining to residential uses. No commercial utility bills will be paid under this scheme. 

14. Signing/registration of the SmartPay (application form/facility) does not ensure automatic approval of this facility. 

15. The SmartPay facility is in respect of the entire charges or to the extent of the limit set by the customer on the utility outstanding and the said instruction shall be valid and binding for the validity period and subsequent renewal period of the Card Account, unless and until rescinded by the customer in writing to HDFC Bank. 

16. No receipt will be given for bills paid through this facility. Card/Account statement is adequate proof that such payment was paid to utility company. 

17. HDFC Bank neither endorses the utilities / services offered, nor is it in any manner party to the contracts that may be executed between the customer and the providers of such utilities / services. The providers of utilities / services shall be solely responsible to the customer to render the utilities services for which payment is to be made by HDFC Bank and HDFC Bank shall NOT be responsible/liable for any deficiency in the same including, but not limited to, deficient quality, delivery, quantity etc., and shall not be made party to any disputes between the customer and any providers of utilities / services. 

18. The customer shall not hold HDFC Bank liable for any non-service, delayed service or faulty service rendered by the provider of utilities / services and shall not contact or communicate in any manner whatsoever, inter alia, by electronic mail, phone, post, SMS or personal meeting with HDFC Bank in this regard. 

19. HDFC Bank shall be entitled without prejudice to any other right or remedy it may have to charge the customer late payment interest at the applicable rate for delayed payment on all late payments from the date the charge was required to be paid until the actual date of payment. 

20. HDFC Bank may, in its sole discretion, accept any cancellation request by the cardholder, provided that HDFC Bank has not already made the utility payment for the month for which the cancellation request is made. 

21. Nothing contained herein shall prejudice or affect the terms and conditions of the Card Member Agreement. 

22. The terms of this facility shall be in addition to and not in derogation of the terms contained in the Card Member Agreement. 

23. Nothing contained in the SmartPay facility shall be construed as binding obligation on HDFC Bank or any participating utility company to continue the facility after the facility termination date or substitute by a new or similar facility. 

24. HDFC Bank reserves the right to revoke / stop this facility to any customer without any prior intimation if the Bank believes that the continued use of this facility is not in the interest of the Bank. 

25. As and when other communication channels are introduced HDFC Bank may be entitled to rely upon all electronic communications, orders or messages to HDFC Bank from the customer whether received by email, SMS, on telephone or otherwise in the manner prescribed for the same from time to time by HDFC Bank and HDFC Bank shall not be obliged to verify or make further inquiry into the identity of the sender, or the message integrity, of any communications, orders or messages. The customer shall in no circumstance dispute such reliance by HDFC Bank. 

26. All disputes arising out of the SmartPay facility shall be subject to the exclusive jurisdiction of competent courts in Chennai. 

27. The SmartPay nomination will be effective subject to HDFC Bank Card/Account being valid and in good standing. 

28. HDFC Bank may at its sole discretion accept or decline the said SmartPay registration. 

29. The record of charges in respect of the above services received or availed by me and submitted by utility companies to my Card Account/Bank Account will neither bear my signature nor the imprint of my Card. I therefore undertake to unconditionally honour and pay without demur and contestation all the said charges including interim charges booked by me under this facility, as and when I am billed for the same by HDFC Bank. This Recurring Transaction Instruction shall subsist during the validity period of my Card and subsequent renewals thereof. 

30. I confirm that the latest self-attested bill copies of the utility service for which I would need to avail of the SmartPay facility are attached along with this application format. I also confirm that the address on the bill matches with residential address given for my Credit Card account. 

31. I confirm that the utility bills enclosed are photocopies of the original bills and that these utilities are used only for residential purpose. 

32. I understand that HDFC Bank is not responsible or liable for any service and/or billing deficiencies or inadequacies of utility companies as the case may be. All e-bills received will be processed within 2 to 3 working days before the due date. Furthermore, I affirm that I am liable to honour all my credit card/Debit card/ Bank Account commitments irrespective of any grievances / complaints I may have with utility companies. 

33. I will continue making payments towards the above utility outstanding until I receive an SMS/ Email/letter confirmation from HDFC Bank indicating that my SmartPay facility has been activated along with effective date of activation. 

34. I agree to communicate termination of facility to HDFC Bank in writing failing which the payment made to the utility company will be construed as valid and binding on me. 

35. I agree to resolve disputes (if any) of whatsoever nature directly with the utility company and will not hold HDFC Bank liable for any deficiency of services provided by the utility company. 

36. I confirm that all the above clauses are applicable even if I apply for SmartPay service through Net Banking / Mobile Banking. 

37. HDFC Bank may change from time to time the list of utility companies available for which SmartPay facility is extended. 

38. Stop payment request is valid for that particular scheduled bill only and not for subsequent bills. Stop Payment need to be initiated at least one day before the bill gets scheduled for debit. 

39. (a) In-case if your Debit card is being upgraded/reissued/renewed, then the SmartPay on your old debit card will be carried forward to your new debit card. Please note that if there is any new e-bill already scheduled for payment debit, then debits for such scheduled e-bills will not get processed on your new debit card (since bill schedule has already taken place and then the new debit card is issued). All subsequent bills generated & scheduled post issuance of new debit card will go smoothly as per process. 

When customer Debit card is being upgraded/reissued/renewed need to enable Ecom flag by logging into My cards for all online transactions to go through seamlessly.

For example: - Bill Scheduled:  5th Jan 2024 (with due date as 15th Jan 2024) New debit card issued on: 8th Jan 2024 Here, in this the SmartPay debit will NOT take place on the new debit card. Hence, customer can make adhoc / one-time manual payment towards this bill and future bills which will be received and scheduled will get debited as per existing process on the new debit card. 

39. (b) In-case if your Credit card is being upgraded/reissued/renewed, then the SmartPay on your old credit card will be carried forward to your new credit card and there will not be any impact on existing/new bills scheduled prior to new credit card issuance. All the SmartPay debits will take place as per process. 

For example: - Bill Scheduled:  5th Jan 2024 (with due date as 15th Jan 2024) New credit card issued on: 8th Jan 2024 Here, in this the SmartPay debit will take place on the new credit card as per existing process on the new credit card. 

40. In-case you have registered for Standing Instructions facility under Bill Pay for your HDF Bank Credit Card for the same biller registered under SmartPay, it is advisable to delete either of two registrations to avoid dual payment. 

41. Deletion of a registered bill can be initiated either by logging in Net banking, Mobile Banking or by calling Phone Banking team. Post deleting a bill from SmartPay, no further e-bills will be processed for the deleted bill. 

42. Corporate Mobile connections (CUG) should not be given for SmartPay registrations. Only retail Mobile connections should be registered for availing SmartPay facility. HDFC Bank is NOT responsible if a high value ticket of CUG connection is processed through SmartPay service. 

43. It is the customer’s responsibility to DELETE a bill if he has surrendered / terminated the service with his biller. HDFC Bank is NOT responsible for any such debits that takes place on a surrendered / terminated connection. 

44. HDFC Bank is not responsible if a bill is NOT fetched during the bill fetch process. Customer’s need to manually pay their bills through alternate mode to avoid service disruption / late fees. 

45. HDFC Bank is not responsible if an incorrect e-bill is given by the biller and gets processed. Customer will coordinate with his biller for any such discrepancy. 

46. HDFC Bank reserves the right to delete all/any such bills where debits are not processed at all for a time period of 14 months. SMS will be sent to the customer 30 days prior to the deletion action. 

47. Customer will contact his billers for all bill related disputes and will not held HDFC Bank responsible. 

48. HDFC Bank is not responsible for any delay or non-receipt of SmartPay SMS/Email communication. 

49. Bills registered will be activated within 1 hour and the Bill Fetch process will also start post activation of the bill. This will allow HDFC Bank to start Bill fetch from same day and such fetched bills will get scheduled for auto debit as per process. 

50. HDFC Bank reserves the right to change the waiting / cooling period. 

51. HDFC Bank is not responsible if the BBPS / biller system is not available due to what-so-ever reason and is not accepting the payment posting request. In such cases, reversals will be processed back to the same origin of debit for all such biller posting failures cases within 3 to 5 working days. 

52. Bills setup for Standing Instruction on Debit Card/Credit Card or Bank Account will be processed around 4 working days prior to the due date. Debit will happen on next working date from scheduled date. Long weekends, public holidays will be excluded in this 4 working days and settlement process will be actioned accordingly in the next working day. HDFC bank is not liable if there is a late payment charges/service disruption to the customer due to such non-working holidays. Customer can seek details from the bank and coordinate further with his respective biller for any billing related disputes. 

53. All SmartPay / BillPay (SI and NON-SI) debits towards Bill Payments will get settled to the respective billers within 2-3 working days. 

54. Bank is not responsible for non-delivery of SMS if customer has an overseas/foreign country code (ISD) mobile connections and mapped to SmartPay facility. BillPay Alerts will be sent to only domestic mobile numbers. 

55. All Bills registered for Smartpay should also observe corresponding debits on fetched bills. 

56. LIC Payment: Amount will be debited 4 days before the due date of grace period (Grace period will be included in due date as per LIC Policy).  e.g: If your due date of policy payment is 8th Sep, one-month grace period will be included than as per LIC your due date will be 8th Oct, so amount will be debited around 4th Oct. 

57. Bill amount will get paid provided the amount is within the specified limit set for Standing Instruction. (Kindly ensure that the Standing Instruction Limit is sufficiently high to ensure payments with normal variations in bill amount). In case a bill amount presented is higher than the amount specified here, the bill will not be paid automatically and will have to be paid using 'View / Pay Bill' option. 

58. For Payment Only biller type, no bill will get presented. The Standing Instruction amount will get debited and paid to biller as per the period and frequency cycle set. 

59. As per RBI E-Mandate w.e.f. 9th December 2021, Bills registered for SI where bill amount has come greater than Rs. 15,000 will require additional factor of authentication from customer to schedule the bill for auto debit. Customer will have to provide OTP based consent via Bitly link sent with pre-debit notification on your registered mobile number through SMS/Email. If you do not provide consent, the bill will not be scheduled or paid automatically.

60. It will be the responsibility of the cardholder to inform HDFC Bank in writing of any change or withdrawal of the SmartPay facility thus availed. Such change or withdrawal will take 30 days to be effective upon receipt of cardholder request. Failure of the cardholder to do the same and subsequent debits, if any, towards utility payments will constitute valid transactions and the cardholder will be liable to pay the same. 

61. The cardholder indemnifies HDFC Bank from and against all actions, suits, claims, liabilities and proceedings due to or arising out of any or all disputes between the cardholder and utility companies or by reason of HDFC Bank acting in good faith or refusing to take or omitting to act on the SmartPay facility. 

62. HDFC Bank shall not be liable to the cardholder for any loss or damage whatsoever or howsoever arising directly or indirectly including without limitation due to delay or failure to give effect to the SmartPay facility. 

63. SmartPay will not get processed if the received e-bill is greater than the Autopay limit set by the customer. 

CashBack Offer & Voucher Program Details: 

CashBack Offer Details:  
SmartPay CashBack Offer (only applicable for bills registered for SmartPay on Debit & Credit Cards) 

Register for SmartPay (automatic payments) under BillPay using HDFC Bank Credit / Debit Cards and receive 5% cash back for next 12 months. Cash back period of 12 months will start from the date when 1st bill is registered for SmartPay(Auto payment) service.  
Maximum cash back of Rs. 150/- per month/statement cycle. 

Cashback for Credit Card (CC):  

1. Cashback shall be posted in the respective card account, in the next statement cycle from the Smartpay transaction.  
   
    

Note: The above-mentioned Promo Codes are configured in Prima for cashback posting in Credit card. 

Cashback for Debit Card (DC):  

1. Cashback point proceeds shall be posted to customer’s Debit Card linked account within 75 days from the end of the month when debit was observed.  
2. Customers can redeem Cashback points by logging into Net Banking/Mobile Banking or calling Phone Banking and request for redemption of Cashback points. Every 1 Cashback point is equal to Re 1. 
3. RP's accrued as part of cashback under SmartPay on Debit Cards have a validity of 90 days from the date of posting. No requests for extension will be allowed

The cashback points accumulated can be redeemed as below –  

1. Through Net banking: Cards > Debit Cards > Enquire > Cashback Enquiry and Redemption > Account Number> Continue > Input the amount under Debit Card Promotional Cashback Points  
2. Through Phone banking: 48 hours post request for redemption of Cashback points; the equivalent amount shall be credited to the customer primary account linked to the debit card.  

Promotional Cashback points earned will be valid for redemption for 3 months from cashback posting month, post which the same will expire. Any queries / complaints related to the offer to be raised only after the end of TAT for cashback posting of 75 days. 

Example 1 – Customer A has never registered for SmartPay facility with the bank. He has registered for the 1st time for 1st Jan 2023 adding 2 bills (Vodafone Post-paid and Airtel DTH). As per cashback offer eligibility, his cashback offer expires on 31st dec 2023. In this scenario, customer is eligible for cashback on successful SmartPay debits (from both these bills) that takes place between 1st Jan 2023 till 31st Dec 2023. Please note that his max cashback eligibility is 5% or Rs. 150 whichever is lower (all SmartPay debits found in the generated card statement will be considered, and the cashback logic calculation will be on the consolidated SmartPay debit amount) 

Example 2 – Customer B has never registered for SmartPay facility with the bank. He has registered for the 1st time for 1st Jan 2023 adding 2 bills (Vodafone Post-paid and Airtel DTH). Later, he added one more additional bill (MSEB Electricity) on 20th Aug 2023. As per cashback offer eligibility, his cashback offer expires on 31st dec 2023. In this scenario, customer is eligible for cashback on successful SmartPay debits (from first two bills) for the entire year since they were registered on 1st Jan 2023. And he is also eligible for cashback on the SmartPay debits which takes place on the 3rd bill registered on 20th Aug 2023. Please note that his max cashback eligibility is 5% or Rs. 150 whichever is lower (all SmartPay debits found in the generated card statement will be considered, and the cashback logic calculation will be on the consolidated SmartPay debit amount) 

Example 3 – Customer C had registered for SmartPay facility first time on 1st Jan 2022 adding few utility bills and his cashback offer expired on 31st Dec 2022. He has already received the cashback on eligible SmartPay debits which took place between 1st Jan 2022 and 31st Dec 2022. This customer later added additional bill(s) in Jan 2023, Feb 2023 and Sept 2023. In this scenario, cashback offer is expired on 31st Dec 2022, and hence no further cashback will be offered for old bills and also for future bills added. 

Note: 

1. Cashback is not given for SmartPay on Bank Account registered bill payments, Adhoc payments done through BillPay, Register & Payment. 
2. Bank reserves the right to change Cashback offer details. 
3. SmartPay on Credit Card cashback is calculated by the system automatically once the credit card statement is generated. 
4. SmartPay on Debit Card cashback is calculated by Marketing Operations team once a month (after month end) and posted as cashback points to the customer debit card associated bank account. 
5. If customer is not registered on SmartPay, then no cashback would be posted. Cashback will not be provided for additional bills registered post the Cashback period. 

2. Voucher Offer (only applicable for bills registered for SmartPay on Debit Cards & Credit Cards) 
   
   Get amazing e-voucher up to Rs. 800/Rs. 500 by registering for two or more utility bills on SmartPay (automatic payments) using Credit/Debit Card.
   
   HDFC Bank has a unique Voucher program as per the table given below: 

Note: 

1. Voucher program is not applicable for SmartPay on Bank Account registered bill payments, Adhoc payments done through BillPay, Register & Payment.
2. Any cancellation/deletion/modification of bills post registration would lead to ineligibility to voucher program.
3. Bank reserves the right to change the voucher program details.
4. Your e-voucher can be redeemed against one or more of your favourite brands like Amazon, Myntra, Flipkart, Uber, Ola, Amazon Pay, Zomato, Swiggy and many more… 

• E-Voucher would be posted within 90 days from the end of the offer period.  
• Customer can avail this offer for up to 20 bills added on SmartPay (10 on Credit cards and 10 on Debit cards). If customer has added 10 bills via Credit/Debit card and availed the voucher offer, future bills added will not be eligible for the voucher benefit.  
• E-Voucher link would be sent via SMS on the registered mobile number.  
• Benefit for the customer – The customer gets a flexibility of choosing their own Gift Voucher from the given brands for any denomination till the time their wallet balance gets completely exhausted  
• The customer will be eligible only if bill is active at the time of fulfilment under the selected Debit / Credit Card.  
• If the same utility bill is deleted & re-registered on automatic payment, then the customer will not be eligible for e-voucher.  
• Customer will be eligible for e-voucher only if 2 or more utility bills are set on automatic payment using Debit / Credit Card within the offer period.  
• E-Voucher is not applicable on DTH, Cable TV, Education fee payment, LPG, FASTag, Loan repayment, Recurring Deposit, Donation, Mutual fund, Mobile Prepaid & Tax categories.  

E-Voucher Claim Process –  
SMS communication will be sent to all winners with the link of the landing page.  
Step 1: On the landing page, enter your unique promo code and Registered mobile number.  
|Step 2: Enter the OTP received on your registered mobile number and submit.  
Step 3: Choose your Brand & Click on “Redeem” to claim your Gift Voucher  
Step 4: Enter your details – Name, Mobile number, E-Mail id.  
Step 4 – Choose your denomination and quantity.  
Step 5 – Click on “SUBMIT”  

That’s it! The Gift Voucher of your chosen brand will be sent to the customer instantly.  

Note:  

1. Additionally, customer will also get Reward Points on SmartPay transactions basis respective card feature. 
2. Cashback and Voucher offer will not be given for SmartPay bills registered on Bank Account, Adhoc payments done through BillPay and Register & Pay. 
3. Bank reserves the right to change Cashback and voucher offer details. 

Permissible limit to register bills by customer – at category level 

Important Terms and Conditions for both SmartPay & BillPay  

1. I agree and accept the services as provided by the Bank at my request to carry out my bill payments by Phone Banking/ATM/Net Banking on my account / card as given by me from time to time. 
2. I agree to provide my correct identification details (biller reference values) as registered with the billing company. I agree to indemnify the Bank from any liability due to erroneous/incomplete information given by me in this regard. Kindly refer your bill copy to confirm the biller details. Bank is not liable for incorrect details added. 
3. I agree that all bills (SI and NON-SI) showing under my User ID / Customer ID / Account are either added by me or given by me to Bank’s SmartPay sourcing sales team, which also includes bills in my name or in the name of my known persons (3rd Party bills). I agree to indemnify the Bank from any liability arising due to 3rd party bills registered in my card/bank account, given by me in this regard. Bank is not liable for 3rd party bills reflecting in my accounts. 
4. I understand that Bank will not be liable for any customer claims on excess payments made by customers through adhoc mode to their respective billers inspite of BillPay (NON-SI) and/or SmartPay (SI) transactions being successfully processed by the bank. Customer will only need to contact his biller for further clarifications and Bank is NOT liable to process any refunds on SmartPay/BillPay processed transactions. 
5. It is the customer’s responsibility to make sure that they initiate a DELETION or STOP PAYMENT at least 7 days prior to the due date. Bank will not be liable for any refund if the customer chooses to process a deletion / stop payment close to the due date, which resulted in debit to his card/account. 
6. Bank will not be liable for any claim if the bill is not paid/processed due to late receipt of e-bill from the biller due to short due date. Customer cannot claim any compensation like late payment charges, re-connection charges, reinstation charges, etc which is levied by the biller to the customer. 
7. I agree that this facility (BillPay/ SmartPay service) will be available to me subject to and upon receipt of the billing company's confirmation as to the details furnished by me. Once a biller is successfully registered to the HDFC Bank Bill Payment service, these details are sent to the biller for verification. Upon successful confirmation from the biller, you will receive your electronic bill from the next billing cycle. 
8. I agree that in case of any change in my identification (biller reference values) details, it is my sole responsibility to communicate these changes as registered with the billing company to the Bank immediately. It is the sole responsibility of the customer to modify / delete the existing registrations and re-register the utility bill with correct biller reference values to avail BillPay/ SmartPay service. 
9. I have no objections whatsoever to the billing company providing my billing details to the Bank. 
10. Bill details would be updated online as soon as Bank receives or fetch the same from BBPS/Biller/BillDesk. Please note, we are totally dependent on the utility company/TSP (BillDesk) /BBPS platform for fetching / presenting and Settlement of bill. 
11. I agree that all billing and payment details will be prepared by electronic means and the information contained therein will be extracted from the computerized system maintained by the billing company and the Bank respectively. The Bank is not liable for any error in the statement as provided by billing company and I shall always hold the Bank harmless against any losses, damages etc. that may be incurred or suffered by me if the information contained is inaccurate/incorrect/incomplete. 
12. I agree that any disputes on bill details will be settled directly by me with the billing company and the Bank's responsibility is limited to provision of information only. 
13. I agree to pay the exact amount due as per the billing company's bill before the expiry of due date thereof and failing which I hold the Bank harmless against the consequences thereof including in particular the non-payment of bill amount. 
14. I unconditionally agree that I shall not hold the Bank liable for such transactions that are carried out on my instructions by the Bank in good faith. Not carrying out such instructions where the Bank has reason to believe (which decision of the Bank I shall not question/dispute) that the instructions are not genuine or are otherwise unclear, improper, vague or doubtful. Accepting instructions given by any one of us in case of joint accounts. For any loss or damage incurred or suffered by me due to any error, defect, failure or interruption in the provision of bill payment services arising from or caused by any reason whatsoever. withdrawing/suspending the facility wholly/partially where Bank on a best-effort basis has tried to notify me through its website or through any legally recognised medium of communication giving a minimum notice of 30 days. 
15. I agree that the record of instructions given and transactions with the Bank shall be conclusive proof and binding for all purposes and can be used as evidence in any proceedings.  
16. Register & pay (Non-Standing Instruction): To ensure no service disruption or late payment charge, please pay at least 3 working days prior to the due date. If the biller details provided by you are incorrect, the biller will reject the payment. 
17. I agree that all transactions other than those executed instantaneously by the Bank, that is those requiring processing by the Bank/Billing company will be carried out only during business hours and the value dates if any, will follow the operating hours /days decided by the Bank /billing company. 
18. I agree to give the Bank 30 days’ notice in writing and obtain an acknowledgment thereof in order to terminate the Bill Payments facility availed by me. 
19. I agree that all the conditions applicable to ATM Services, Phone Banking Services, Net Banking Services are binding on me in this regard. 
20.  HDFC Bank Fastag recharge may take up to 15 min to reflect in the Fastag Wallet. 
21. Security controls features added in BillPay & Recharge platform  
    
    (A) Mobile prepaid recharge:  
    Only 1 Transaction up to Rs. 1000 is allowed in the first 24 hours after registration   
    Maximum 3 transactions/day allowed with a total transaction limit of Rs. 3,000 post 24 hours  
    
    (B) DTH Recharge:   
    Only 1 Transaction up to Rs. 2000 is allowed in the first 24 hours after registration   
    Maximum 3 transactions/day allowed with a total transaction limit of Rs. 12,500 after 24 hours  
    
    (C) Other Bank credit cards bill payments: 
    After registration: No transaction allowed in the first 2 hours of registrations,   
    Transaction up to Rs. 10,000 between 2 hours to 24 hours   
    Transaction up to Rs. 2 lacs after 24 hours (Maximum amount allowed per day for payment to other Bank credit cards is Rs 2 Lacs.) 
22. As per SEBI circular number SEBI/HO/IMD/IMD-I DOF5/P/CIR/2022/41 effective 01-06-2022, we will be sharing the Bank account number with payment aggregator/Billdesk and they may forward the same for completing the settlement of the transaction. 
23. Please Note as per SEBI Circular, AMC's have to verify the source account of the funds. HDFC Bank is not liable for rejection or failure of transaction as we are dependent on Biller/AMC.  
24. In case you have already paid your bill using Pay Now / Ad-hoc mode / Alternate channel, please do not make a payment against presented bill to avoid duplicate payment to biller.  
25. In case you are unable to make a payment for an expired bill here, you may also want to check if the concerned biller is accepting payments for expired bills at their website. 
26. Pay Bill: To pay a pending bill, please use the Pay button. This button will appear when an electronic bill is presented to you by the biller and is due for payment. 
27. Pay: To make Instant & ad-hoc or partial payment to your biller, please use the Pay button. Note that this button will be available only for the 'Payment' and 'Presentment and Payment' billers who accept Instant or ad-hoc payments. To avoid duplicate bill payments, please check payment history before proceeding for making payment using Pay button. 
28. Recharge: To do instant recharge for DTH and Prepaid mobile billers, please click on Recharge menu option. 
29. As per SEBI/HO/IMD/DF2/CIR/P/2020/253 circular dated December 31, 2020, effective from February 1, 2021, the applicable NAV in respect of purchase of units of mutual fund scheme shall be subject to realization & availability of the funds in the bank account of mutual fund before the applicable cut off timings for purchase transactions. Accordingly, for all iSIP transactions customers will receive NAV of date of credit of funds into the Mutual Fund's bank account and not the date of debit to the customer's account. 
30. Customer after updating Mobile number and Email ID in Bank’s core system need to follow below steps to update the same for BillPay alerts:  
    1. Mobile/email gets updated when customer does fresh biller registration or non-SI transaction 
    2. Write it to HDFC Bank for change in Mobile number and Email ID for BillPay alerts. 
31. LIC Payment: Amount will be debited 4 days before the due date of grace period (Grace period will be included in due date as per LIC Policy). e.g : If your due date of policy payment is 8th Sep, one-month grace period will be included than as per LIC your due date will be 8th Oct, So amount will be debited around 4th Oct. 

As part of various ongoing tax and regulatory developments around the globe (e.g. FATCA), financial institutions such as HDFC Bank are being cast with additional investor and counterparty account related due diligence requirements.? Foreign Account Tax Compliance Act (FATCA) is an U.S. tax initiative that requires all financial institutions to report information to the relevant tax authorities about US accounts or accounts of certain entities in which U.S. persons hold a substantial ownership interest. Similar initiatives are taking place at the behest of many other countries.

HDFC Bank is taking appropriate measures in order to become FATCA compliant, with effect from 1 July, 2014 subject to local regulations. It would also have to comply with other similar laws, going forward. Towards compliance with FATCA and similar laws, we would be required to seek additional personal, tax and beneficial owner information and certain certifications and documentation from our investors and counterparties. Such information may be sought either at the time of account opening or any time subsequently. 

The onus to provide accurate, adequate and timely inputs in this regard would be that of the accountholder or counterparty. In this regard, any change in the status or information or certification previously provided should also be intimated to HDFC Bank within 30 days. In the appropriate cases and also especially in case of any omission, delay or failure in providing such information, we would/ may be constrained to report relevant information pertaining to the account to domestic or foreign tax authorities. 

For the purposes of such regulations, we may also be required to provide information to any institutions such as withholding agents for the purpose of ensuring appropriate withholding from the account or any proceeds in relation thereto. As may be required by domestic or overseas regulators/ tax authorities, we may also be constrained to withhold and pay out any sums from your account or close or suspend your account(s).

We will be unable to provide advice you about any tax status or FATCA classification relevant to your account. It is your responsibility to ensure that you record your correct tax status/ FATCA classification. You may seek advice from your tax advisor in this regard. 

Please note that you may receive more than one request for information if you have multiple relationships with different members of the HDFC Group. Therefore, it is important that you respond to our request, even if you believe you have already supplied any previously requested information.

• The Bank may at its sole discretion send any communication, Password (as defined hereinafter)or any other information to the Customer's registered mobile number or any other mobile number, which it may have in its records or otherwise, as it deems appropriate.The Bank may, at its sole discretion,update the registered mobile number in its records without any prior intimation or approval of the Customer. In case of multiple accounts held with the Bank, the Bank has the right to update the Customer's registered mobile number from any account held with the Bank by the Customer.
• The Bank may at its discretion send the Customer a password, code or One Time Password (OTP) or passcode (collectively, "Password") as a method of authenticating the identity of the Customer as also for enabling the Customer to transact with the Bank or complete transactions with the Bank by using such Password, including signing, accepting, authenticating of any loan or security contract, applicable or any other document, will be binding upon the Customer.
• The Bank does not assume any responsibility whatsoever in case of failure on behalf of the Customer to correctly enter the Password. The Bank further does not assume any responsibility whatsoever in case the Customer lapses in safe keeping of the Password or in case of any misuse or unauthorized use of the Password
• The Bank is not responsible for any failure in the transaction on account of any problem with the Customer's mobile phone network or any other issue in the mobile phone or the SIM card of the Customer, over which the Bank has no control.
• The Customer shall keep the Customer's mobile phone or SIM card active, safe and in the possession of the Customer at all times. The Customer shall not allow the use of the Customer's mobile phone or SIM card by any other person.
• In case of any loss or theft of the Customer's mobile phone and/or or SIM card, the Customer shall de-register or block such a mobile phone and/or the SIM card with its service provider on an urgent and immediate basis. The Customer shall also inform the Bank of such a lossor theft. The Bank shall not be responsible for any unauthorized use of the mobile phone or SIM card on account of such loss or theft. The Customer is obligated to keep the mobile phone and the data therein and Passwords and usage there of confidential at all times and shall ensure that the mobile phone and the data therein is not shared with any other person under any circumstances. The Customer shall not create a copy or duplicate of the data in the mobile phone or save such data except for the purposes of using the same as permitted or required by the Bank.

HDFC Bank Programme Terms and conditions 

These Terms and Conditions (the “Terms”) apply to and regulate the operation of the three tiers of the Programmes namely Imperia / Preferred / Classic / Vishesh or any other Banking Programme (the “Programme”) offered by HDFC Bank (the “Bank”) to eligible Saving/Current account holders (the “Account Holder(s)”). The Terms are in addition to the terms and conditions applicable to standard HDFC Bank’s Savings/Current Account (the “Primary Terms”) as available on www.hdfcbank.com. 

1. Programme Eligibility

1.1. Entry to the Programme is based on the Account Holder(s) satisfying the prevailing Programme eligibility criteria for the respective Programme and acceptance of the Terms by the Account Holder(s) 1.2. The Account Holder(s) reserves the right to decline upgrade to the programme through acceptable electronic or physical means at any point.  

2. Programme Features and Benefits (the “Features”) 

2.1. Features refers to any of the facilities, discounts, services, or arrangements offered to the Account Holder(s) as a result of being a part of the Programme. The Features may be introduced/amended from time-to-time and may vary by Programme type. Features may also vary within the same Programme, depending on whether the Account Holder(s) continues to satisfy the prevailing criteria for that Programme. 2.2. The Features are applicable till the time the Account Holder(s)is a part of the Programme. 2.3. The Features are subject to prevailing regulatory guidelines for various customer types (Resident Individuals/, NRIs, Individuals/Non-Individuals). 2.4. Taxes as applicable would be charged separately. 2.5. The Bank reserves the right to appoint / change the Relationship Manager of the customer. 2.6. Locker is subject to availability at branch 2.7. The programme offers an enhanced debit card variant which would be issued incidentally with your upgradation consent, in alignment with your consent of availing debit card services during your initial account onboarding. 2.8. The Features may be extended to such Account Holder(s)’s (‘Primary Group ID’s) business and/or family relationship(s) to form a Family/Business ‘Group’ at the discretion of the Bank and based on certain selective parameters and consent (through approved electronic or physical means) received from both the Primary Group ID and the prospective linked Account Holder(s) except for Minors. Up to 8 immediate family members as per the approved list of relationships as defined by the Bank can be grouped together. 2.9 If the balances and salary credit required as per programme eligibility are not met for consecutively 3 months (or for any other reason as deemed fit by the Bank) except for few discretionary cases, the Bank reserve the right to withdraw the prevailing programme Features, with prior intimation. In case of such withdrawal of prevailing Programme entitlement, all the existing Programme features (e.g., discounts, services, etc) will be withdrawn and instead the minimum balance requirements, fees & charges will be applicable as per the standalone Product/Account variants held by the Account holder/(s). The bank shall not be responsible/liable in any manner whatsoever for any costs, losses, damages or expenses, or other consequences, caused by reason of such instance/migration/downgrade. 

3. Others  

3.1. The Bank shall accept electronic or physical acceptance of the Terms. Acceptance through electronic or physical means includes (but is not limited to) explicit consent provided through the Account Holder(s)registered mobile number/electronic mailing address /Net Banking login/ ATM/ Physical form/IVR (Interactive Voice Response) or other electronic means. 3.2. Acceptance of these Terms overrides the acceptance of any other terms and conditions accepted by Account Holder(s) in relation to the Programme/s existing with the Bank. 3.3. In case registered email ID or mobile number is linked to multiple Customer IDs of the bank then the consent through such means will be deemed to have been received for all the Customer IDs linked to those Email address or Mobile number. 3.4. Each of the Account Holder(s) agree that the Primary Group ID would be the first and primary point of contact for the Bank in relation to the Programme/s. 3.5 Consent to be part of the programme and acceptance of the terms and also includes consent for upgraded debit card issuance as well as future downgrade to suitable program or regular status based on Account holder’s/Group’s balances with intimation. 3.6. Each of the Account Holder(s) in the Group hereby agrees that the Bank may upgrade the Group to a higher program with better benefits depending on the eligibility and relationship value. 3.7 Each of the Account Holder(s) further agrees to inform/communicate to the Bank for the change of Primary Group ID in the event of death /account closure/conversion from the Resident to Non-Resident status of the primary ID. 3.8. Each of the Account Holder(s) hereby authorises and provides consent in favour of the Primary Group ID for addition/deletion of any new Account Holder(s)/or deletion of their names from the Programme/s without their consent Each of the Account Holder(s) hereby agrees that such decision of the Primary Group ID would be final and binding on us and that the Bank shall not be liable for any claims against the Bank by any of the Account Holder(s). 3.9. The Bank reserves the right to amend and change all or any of the features / services /fees / charges / eligibility criteria / terms and conditions of the Programme. However, any such amendment shall be made effective after prior notification. The Bank may communicate such amendments by hosting them on the Website or in any other manner as decided by the Bank. 3.10. Any card, cheque book, passbook, statement, ATM display or other Bank branded identification issued by the Bank to an Account Holder(s) to reflect the Programme (brand) is to facilitate identification of the Accountholder’s Programme type only. The Bank’s records shall be conclusive as to the programme allocated to the Accountholder at any time. 3.11. Any notice, statement, or other communication to be given to the Account Holder(s) may be delivered to each of the Account Holder’s mailing address or electronic mail address or contact number as updated in the Bank’s records by the said Account Holder(s) and shall be deemed to have been effectively served on despatch/deployment. In this connection, the Bank shall not be liable in any way whatsoever to the said Account Holder(s) for any loss or damage in the event that the communication is returned undelivered or received by a third party. Each of the Account Holder(s) shall promptly notify the Bank through acceptable physical or authenticated electronic means of any change in mailing address / electronic mail address / contact number as updated in the Bank’s records. 3.12. Each of the Account Holder(s) admits and acknowledges that notwithstanding anything to the contrary contained in this terms and conditions or any other document/arrangement: (i) in respect of all the Account holder(s) under the Program (collectively “Group ”), present and future liabilities to the Bank, whether in respect of the said Account(s) of the Group or any other obligation, whether such liabilities are/be crystallized, actual or contingent, primary or collateral or several or jointly with others, whether in same currency or different currencies, whether as principal debtor and/or as guarantor and/or otherwise howsoever (collectively “Liabilities”), the Bank shall in addition to any general lien and set off to which the Bank may be entitled by law, practice, custom or otherwise, have a specific and special lien on all the monies in any of the Account(s) under the Group whether current, savings, overdraft, fixed or other deposits, now or in future of the Account Holder(s) under the Group, whether in same currency or different currencies and we each of the Account Holder(s) unconditionally and irrevocable guarantee the payment of the said Liabilities of the Group and authorise the Bank to debit the Account(s) of the Account Holder(s) notwithstanding that the monies which are debited from the Account of the Account Holder(s) is not attributable to the monies due and payable by the said Account holder but is due and payable to the Bank by any of the Account Holder(s) of the Group ; (ii) the Bank shall have the specific and express right, without notice to and without consent of the Account Holder(s) under the Group, to set-off, debit, transfer, adjust, appropriate all such amounts in all such accounts and deposits (whether prematurely or upon maturity as per the Bank’s discretion), for the purpose of adjusting/appropriating the said monies against any of the dues of the Account Holder(s) under the Group in respect of any of the Liabilities whether ear-marked for any particular liability or not, to combine or consolidate all or any of accounts of the Account Holder(s) under the Group and set-off any monies, whether of same type or nature or not and whether held in same capacity or not including upon happening of any of the events of default mentioned in any of the documents. Group in respect of any of the Liabilities whether ear-marked for any particular liability or not, to combine or consolidate all or any of accounts of the Account Holder(s) under the Group and set-off any monies. 3.13 Under no circumstances shall HDFC Bank or its affiliates be liable for any indirect, incidental, consequential, special, or exemplary damages arising out of or in connection with your access or use of or inability to access or use the application and any third-party content or services. 

• FD can be booked by customers registered on SMS banking except for CSC channel customers (CSC Channel customer’s authentication will be basis Registered mobile no + DOB/PAN)

• FD will be booked from the account registered in SMS banking except for CSC channel customers (CSC Channel customers account linked to the registered mobile no +DOB/PAN will be debited)

• Customer agrees that Bank can act upon the SMS/Missed call received within stipulated time (For CSC, SMS is valid for 15 mins) from the Registered Mobile no. with the Bank and shall not be held responsible in case of any dispute with respect to the booking of FD through SMS/Missed call Banking if Bank has acted upon the SMS/Missed Call received from the Registered Mobile No.

• As interest rates are subject to change without prior notice, customer shall ascertain the rates on the value date of FD

• FD will get booked on account home branch and Holding Pattern will be same as CASA.

• FD via SMS Banking will be booked with minimum amount Rs. 5000 and maximum amount is Rs. 10000 for a minimum tenure of 6 months 1 day & maximum tenure of 120 months except for CSC channel customers (For CSC channel customers the minimum amount is Rs.5000 and maximum amount is 4.99 cr with minimum tenure of 7 days & maximum of 120 months). No interest will be paid if NRE FD is prematurely withdrawn before 1 year

• Maturity instruction for all FDs booked via SMS facility will be Renew Principal & Interest under re-investment option. Except for CSC channel customer’s (For CSC channel customer’s maturity instruction options provided will be transfer to CASA/ Renew Principal & interest / Renew Principal & Redeem interest).

• FD via SMS banking will be booked with a default value of 5000 & tenure as 12 months (incase if tenure & amount is not specified by the customer)

• FD via missed call will be booked with fixed tenure (12months), amount (Rs 5000), Nature of deposit (Re-investment) & maturity instructions (Renew Principal & Interest)

• There will be no nominee registered in FD booked by SMS/Missed Call banking (except for CSC channel customers).  However, it can be updated from branch. (For CSC channel customers CASA nominee will be replicated. In case of no nominee registered in CASA, it can be updated from branch

• Resident FD: TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches exceeds Rs. 40,000/- (Rs. 50,000/- for senior citizens) in a financial year.

• Tax at source is deducted as per Income Tax Regulations prevalent from time to time applicable to NRO FD.

• Individuals seeking exemption from TDS on the interest income of FD and RD, have to submit a completed Form 15 G/H at the Bank branch within the first week of the new Financial Year and every time a new deposit is booked (not applicable to NRIs)

• Customer shall not hold the bank responsible should any claim be raised against the Bank in respect of providing this facility and ensure that the Bank does not suffer any loss, Customer hereby indemnify the Bank in respect of any such claims/losses FD liquidation facility is available on Net Banking only for Single Holding FDs.

• PAN card is required for FD's greater than or equal to Rs. 50,000

• Electronic mail advice will be sent to Customer on booking FD's

• In the absence of PAN, only deposits <Rs 50,000 /- can be booked. For booking deposits >= Rs 50,000/- without PAN, Customer is requested to visit the nearest branch. FD will be booked if permissible under the Bank's current policy.

• As per the section 114B (c) of the Income Tax Act, every person shall quote his permanent account number in all transactions pertaining to a time deposit, exceeding fifty thousand rupees, with a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of the Act): -

• As per Section 139A(5A) of the Income Tax Act every person receiving any sum of income or amount from which tax has been deducted under the provisions of the Income Tax Act shall provide his PAN number to the person responsible for deducting such tax.

• In case the PAN number is not provided to the Bank as required the bank shall not be liable for the non availment of the credit of tax deducted at Source.

• To modify maturity instructions, you are requested to visit the nearest branch.

• The FD rate applicable for a monthly interest option will be a discounted rate over the standard FD Rate. Please contact the nearest Branch for further information.

• Any interest / maturity payout less than or equal to Rs 100/- on Term Deposits shall be credited to the savings or current account, irrespective of the instruction given at the time of booking of the deposit or change anytime during the tenure of the deposit.

• If Customer is already registered as Sr. citizen with the Bank Customer will automatically receive the 0.50% additional ROI on all FD booking through all channels If however, Customer is not registered as Sr. Citizen, we request Customer to visit the branch with age proof in order to avail the additional 0.50% ROI on FD bookings online as well as through other channels. Senior Citizen Rates are only for resident Indians and do not apply to NRIs.

• Premature liquidation clause: effective 01st Dec'06 the interest rate applicable on premature closure of deposits (all amounts) will be lower of:

• The rate for the original/contracted tenor for which the deposit has been booked

OR

• The base rate applicable for the tenor for which the deposit has been in force with the Bank.

• For deposits booked on or after 7th march'19, the base rate is the rate applicable to deposits of less than Rs.2 Cr as on the date of booking the deposit. Prior to this the base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit. As per terms & conditions of the fixed deposits accounts of the bank in case of premature closure of FD (including sweep in / partial closure) the interest rate will be 1.00% below the contracted rate or the base rate applicable for the period the deposit has remained with the Bank, whichever is lower, except for the deposits booked with tenor 7-14 days. In case of death, interest rate will be the contracted rate or the base rate applicable for the period the deposit has remained with the bank. This is applicable to all deposits booked/ auto renewed from 24th Jan 2011.

• No penalty (reduced rate) will be levied on premature closure of NRE FD

• In case of Domestic & NRO deposits no interest will be paid if the deposit is liquidated within 7 days of the date of booking.

• Customer agrees to the Bank issuing certificate in the prescribed form for tax deducted at source on interest on Fixed Deposits, after the end of every calendar quarter

• In the event of the death of the depositor, premature liquidation of the term deposit/s will be allowed. Such premature liquidation will not attract any penal charges.

• Customer agrees that the Bank will pay the Fixed Deposit amount either on maturity or premature withdrawal at any branch irrespective of the branch where the deposit is booked.

• Customer agrees that in case of premature withdrawal of the fixed deposit based on Customer’s instructions or the instructions of all the joint depositors in the case of joint deposit, the Bank shall have the right to recover interest already paid or the penalty if any, from the proceeds of the FD in accordance with prevailing regulations of the Bank and the Reserve Bank of India. In the event of the death of one of the joint account holders, the right to the deposit proceeds does not automatically devolve on the surviving joint deposit account holder, unless there is a survivorship clause.... Customer agrees that in case of joint FD's with a survivorship clause, the Bank shall be discharged by paying the FD proceeds prematurely to survivor/s, on request, in the event of death of one or more joint depositor. Customer is aware that HDFC Bank computes interest on its Domestic, NRO & NRE deposit accounts based on the actual number of days in a year (i.e. 366 days in a leap year and 365 days in a non-leap year).

• FD requests via SMS/Missed call received after 10pm will be carried out at the next working day on first in first out basis subject to availability of clear funds in the account authorized for debit. 

• The service is free (VAS charges may apply for the SMS) ​​​​​​​

• The deposits in the Bank are insured with DICGC for an amount of Rs 5 lakhs (principal + interest) per depositor 

• For further details, please visit our website: www.hdfcbank.com

• RD can be booked by customers registered on SMS banking except for CSC channel customers (CSC Channel customer’s authentication will be basis Registered mobile no + DOB/PAN).
• RD will be booked from the account registered in SMS banking except for CSC channel customers (CSC Channel customers account linked to the registered mobile no +DOB/PAN will be debited)
• Customer agrees that Bank can act upon the SMS/Missed call received within stipulated time (For CSC, SMS is valid for 15 mins) from the Registered Mobile no. with the Bank and shall not be held responsible in case of any dispute with respect to the booking of RD through SMS/Missed call Banking if Bank has acted upon the SMS/Missed Call received from the Registered Mobile No.
• RD will get booked on account home branch and Holding Pattern will be same as CASA.
• As interest rates are subject to change without prior notice, customer shall ascertain the rates on the value date of RD
• There will be no nominee registered in RD booked by SMS/Missed Call banking (except for CSC channel customers).  However, it can be updated from branch. (For CSC channel customers CASA nominee will be replicated. In case of no nominee registered in CASA, it can be updated from branch
• RD via SMS banking will be booked with minimum amount Rs. 1000 (in multiples of 100 thereafter) and maximum 1,99,99,900 for CSC channel (Maximum amount is 10,000 for other channel) with minimum tenure 6 months (in multiples of 3 months thereafter) and maximum 120 months. The minimum tenure for earning interest on NRE RD is one year. No interest will be paid if NRE RD is prematurely withdrawn before 1 year. Maturity Instruction will be transfer to source a/c. (For CSC channel, maturity instruction option provided will be Transfer to CASA, convert principal to FD&RD, Convert Principal & Interest to FD & RD).
• RD via SMS banking will be booked with a default value of 1000 & tenure as 12 months (incase if tenure & amount is not specified by the customer)
• RD via missed call will be booked with fixed tenure (12months), amount (Rs 1000), & maturity instructions (transfer to source a/c).
• Resident RD: TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches exceeds Rs. 40,000/- (Rs. 50,000/- for senior citizens) in a financial year.
• Individuals seeking exemption from TDS on the interest income of FD and RD, have to submit a completed Form 15 G/H at the bank branch within the first week of the new Financial Year and every time a new deposit is booked (not applicable for NRIs)
• Customer shall not hold the Bank responsible should any claim be raised against the Bank in respect of providing this facility and ensure that the Bank does not suffer any loss, Customer hereby indemnify the Bank in respect of any such claim/losses.
• The new RD can be viewed on Net Banking in Recurring Deposit Summary Page.
• Electronic mail advice will be sent to customer on booking RD's.
• The RD account has a minimum lock-in period of one month.
• In the case of premature closure within a month, no interest shall be paid to the depositor and only his principal amount shall be returned.
• The interest on Deposits is compounded quarterly, at the applicable rates
• RD liquidation facility is available on Net banking to customers having Single Ownership account status.
• PAN card is required for RD's greater than or equal to Rs. 50,000
• In the absence of PAN, only deposits = Rs 50,000/- without PAN, Customer is requested to visit the nearest branch. RD will be booked if permissible under the Bank's current policy.
• In the absence of PAN, only deposits = Rs 50,000/- without PAN, Customer is requested to visit the nearest branch. RD will be booked if permissible under the Bank's current policy.
• As per the section 114B (c) of the Income Tax Act, every person shall quote his permanent account number in all transactions pertaining to a time deposit, exceeding fifty thousand rupees, with a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of the Act): -
• As per Section 139A(5A) of the Income Tax Act every person receiving any sum of income or amount from which tax has been deducted under the provisions of the Income Tax Act shall provide his PAN number to the person responsible for deducting such tax.
• In case the PAN number is not provided to the Bank as required the bank shall not be liable for the non availment of the credit of tax deducted at Source.
• For liquidation of joint deposit, Customer will need to visit the nearest HDFC Bank Branch with request signed by all joint holders to liquidate the RD
• Premature liquidation clause: effective 01st Dec'06 the interest rate applicable on premature closure of deposits (all amounts) will be lower of:
• The rate for the original/contracted tenor for which the deposit has been booked
  
  OR
  
  
• The base rate applicable for the tenor for which the deposit has been in force with the Bank.
• For deposits booked on or after 7th march'19, the base rate is the rate applicable to deposits of less than Rs.2 Cr as on the date of booking the deposit. Prior to this the base rate is the rate applicable to deposits of less than Rs.1 Cr as on the date of booking the deposit.
• Customer agrees that if frequent defaults (non-payments) are observed in the monthly instalments, and six instalments fall in arrears, the Bank reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank.
• Customer agrees that the RD shall be due for repayment & shall mature on completion of contracted tenure even if there are instalments remaining to be paid.
• Customer is aware that the maturity amount mentioned on the RD confirmation advice is subject to payment of all instalments on time
• Customer agrees that the instalment amount once fixed will not be allowed to be altered at a later date.
• Customer agrees that in case of more than one instalment being overdue at the time of payment, up to 6 instalments can be recovered from the linked account if sufficient balance is available.
• Customer agrees that in case of more than one instalment being overdue at the time of payment, the paid instalment if sufficient to cover only one instalment will be appropriated towards the first/ earliest instalment overdue.
• Customer agrees that partial payment of instalments will not be permitted.
• Customer agrees that the Bank shall not be responsible for informing him/her to maintain adequate balance in the account to pay the instalments.
• Interest on a RD will be calculated from the date the instalment is paid
• Customer is aware that the interest on RD will be calculated by the Bank in accordance with the directions advised by Indian Banks' Association.
• The method of calculation of interest on RDs will be on Actual / Actual Quarterly Compounding.
• If customer is already registered as Sr. citizen with the Bank. Customer will automatically receive the 0.50% additional ROI on all RD booking through all channels If however, Customer is not registered as Sr. Citizen, we request Customer to visit the branch with age proof in order to avail the additional 0.50% ROI on RD bookings online as well as through other channels. Senior Citizen Rates are only for resident Indians and do not apply to NRIs.
• RD requests via SMS/Missed call received after 10pm will be carried out at the next working day on first in first out basis subject to availability of clear funds in the account authorized for debit 
• Customer agrees that in case of joint RD's with a survivorship clause, the Bank shall be discharged by paying the RD proceeds prematurely to survivor/s, on request, in the event of death of one or more joint depositor
• The service is free (VAS charges may apply for the SMS) 
• The deposits in the Bank are insured with DICGC for an amount of Rs 5 lakhs (principal + interest) per depositor
• For further details, please visit our website: www.hdfcbank.com

• The EasyEMI Scheme is open to select HDFC Bank credit card holders holding a valid HDFC Bank credit card issued in India. EasyEMI option is not available on select Corporate Credit Cards, Purchase & Commercial credit cards. EasyEMI transactions done on Credit Card products where the EasyEMI option is not available shall be debited to the card account in full.
• EasyEMI transactions will not be eligible for Reward Points effective 15th July’17
• For the First EMI, the Interest will be calculated from the loan booking date till the payment due date
• Any query related to merchant payback / Cashback to be raised within 180 days of transaction date.
• EasyEMI is valid only on Credit cards in ‘regular’ status. It is not valid on cards on which a block is placed due to Payment Due, Lost Card reported, Upgrade in progress etc. EasyEMI transactions done on such Credit Cards shall be debited to the card account in full and become payable.
• Customer is informed about successful or rejected Loan Booking on the Card and customer should call Phone banking to check the reason in case of reject.
• EasyEMI facility is available at select merchant websites and merchant outlets.
• EasyEMI conversion will take minimum 4 working days from the date of transaction
• EasyEMI is not valid at Jewellery merchants or at merchants classified under Jewellery related Merchant Category Codes (MCCs) by Acquiring Banks. HDFC Bank will not be liable to convert any transaction done at such merchants and any such conversion request will be rejected in compliance to regulatory guidelines.
• EasyEMI needs to be availed at the time of doing transaction at merchant outlet or merchant website. It is not a backend conversion process. In case of merchant websites offering HDFC Bank EasyEMI, ‘HDFC Bank’ EMI option & required tenure needs to be selected on the payment page of merchant website. The Bank is not liable to or responsible for converting transactions wherein ‘HDFC Bank’ EMI option was not chosen by cardholder or in case of technical issues at merchant’s end in routing the transaction to the Bank as an EMI transaction
• In case of transactions done at physical outlets of merchants (POS transactions), please check with merchant on availability of EasyEMI facility BEFORE swiping your HDFC Bank Credit card. EasyEMI in POS transactions is valid only on swipe done on HDFC Bank/Plutus swipe machine. Please ensure that the intention to avail HDFC Bank EasyEMI along with the tenure option is communicated to merchant before swiping card. The chargeslip generated post swipe will indicate the EasyEMI tenure, Transaction Amount, Merchant Payback, Loan Amount, EasyEMI Finance Charges (% on reducing balance per annum) and EMI value. Please highlight to merchant immediately if the tenure is not appearing/wrongly appearing. HDFC Bank is not liable for erroneous swipes done by merchant eg. Swipe done as regular transaction instead of swiping as EasyEMI transaction OR swipe done on other Bank swipe machine. The Bank is also not liable to or responsible for converting such erroneous transactions to EasyEMI transactions at the backend.
• Please ensure that all terms & charges mentioned on chargeslip are read before signing on the same. Cardholder can ask merchant to void transaction if he/she is not in agreement with the terms/charges. Once a transaction is settled by merchant, Bank will deem chargeslip as ‘customer consent’ for EasyEMI terms, conditions and charges
• At select merchants, ‘Merchant Payback’ might be applicable. This is being provided by respective merchant/manufacturer and not by Issuing Bank. In such cases, the ‘Loan amount’ will be Transaction Amount less Merchant Payback amount. EasyEMI Finance Charges will be applied on the ‘Loan Amount’ to calculate EMI.
• At select merchants, processing fee may be applicable on EasyEMI transactions. 
• Change of tenure is not allowed once EasyEMI txn has been completed
• Customers need to report to HDFC Bank any dispute with respect to an EasyEMI transaction within 60 days of transaction being done. The bank is not liable for any kind of conversion or charges reversal for claims beyond this period.
• Processing fee (if any) will be charged in full in the statement subsequent to the transaction date. Service tax, Education Cess & other taxes as mandated by Government regulations from time to time will be applicable on Processing Fee charged
• The credit limit on the HDFC Bank credit card shall be blocked to the extent of the full transaction amount. The credit limit will be released as and when the EMI is billed and paid for in subsequent months as per EMI plan.
• The EMI debit per statement will be part of ‘Minimum Amount Due” and is payable by the Payment Due Date. Service tax, Education Cess & other taxes as mandated by Government regulations from time to time will be applicable on Interest component of each EMI billed
• In case of Online EasyEMI transactions done at merchant websites, if refund done by merchant is greater than 90.01% of EasyEMI Prinicipal Outstanding on Credit Card then EMI Loan will be pre-closed. In such cases processing fees charged (if any) will be reversed. Interest charged as part of EMIs already posted to card will not be reversed. Since EMI will be preclosed, EasyEMI preclosure Interest charges (as applicable) will be levied to card eg. Customer is in 3rd month of EMI and statement date is 25th of every month. If loan gets preclosed on 19th November, then interest for 25th October to 19th November will be levied as 'Preclosure Interest charges'. However, If the refund amount from merchant is less than 90.01% of EasyEMI Principal Outstanding, then the EMI Loan will not get pre-closed. In such cases, the balance EasyEMI Prinicipal outstanding will get reduced to the extent of the refund and EMI for remaining tenures will get reduced.
• All prevailing terms and conditions of merchants would apply in addition to these terms and conditions
• Approval of EasyEMI is at the sole discretion of HDFC Bank. The EasyEMI scheme is available for select tenures and the purchase amount along with Interest, processing fee charges needs to be re-paid within the respective tenure opted for by the HDFC Bank Credit Card customer.
• The EMI scheme can be pre-closed by calling the 24 hour HDFC Bank Credit Cards customer service. 'Preclosure Interest charges' (as applicable) will apply. In case of preclosure, any payback offered by merchant at time of loan booking will be debited on pro rata basis. Any payment made into the credit card account over and above the EasyEMI shall not be deemed to be payment towards the amount availed under EMI scheme and shall not result in the closure of the said facility. HDFC Bank reserves the right to revise the pre-payment charges at its discretion, without prior notice and such revised charges shall be binding on the Card Holder.
• Customers can choose to cancel the EasyEMI transaction and pay in full instead of monthly installments by calling the 24 hour HDFC Bank Credit Cards customer service. On cancellation original Loan amount & ‘Merchant Payback’ will be debited in full (and become payable), EMI debits will be credited; processing fees charged initially (if any) will be reversed. However once an EasyEMI transaction is cancelled on card, the same cannot be reconverted.
• In the event of non-payment of minimum amount due for three successive months the EMI shall be closed and the principal outstanding, the interest for the day till closure and the pre -closure charges shall be debited to the credit card account of the Cardholder and appear in the subsequent monthly statement. HDFC Bank shall be entitled to demand immediate repayment of such consolidated outstanding amounts.
• In the event of cardholder becoming delinquent, the EMI shall be closed and the principal outstanding, the interest for the day till closure and the pre -closure charges shall be debited to the credit card account of the Cardholder and appear in the subsequent monthly statement. HDFC Bank shall be entitled to demand immediate repayment of such consolidated outstanding amounts.
• In the event of a credit card being closed prior to all installments being charged, the amount outstanding against EasyEMI scheme may be charged as a consolidated transaction of the card member. HDFC Bank shall be entitled to demand immediate repayment of such consolidated outstanding amount.
• Any query/dispute with regards to the payment using the EasyEMI option should be directed towards HDFC Bank, and merchants shall not be liable for the same in any manner.

The The persons named as borrowers in the Schedule-cum-Key Fact Statement hereto (hereinafter referred to as the Schedule) being borrower, hereinafter collectively referred to as Borrower which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include his/her heirs, administrators, executors and legal representatives.

In favour of:

HDFC BANK LIMITED, a banking company incorporated under the provisions of the Companies Act, 2013 and a banking company having license as such from the Reserve Bank of India under the provisions of the Banking Regulation Act, 1949 and having its registered office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013 and a branch office at the place where the overdraft facility is availed hereto (hereinafter referred to as the “Bank” which expression shall, unless it be repugnant to the context or meaning thereof, shall include its successors, transferees and assigns.)

In case of there being more than one Borrower (i.e. there being co-borrowers), the reference to the term Borrower shall be deemed to be as if it were plural and this document shall be read accordingly as if made and liabilities undertaken by each of them jointly and severally.

Reference to the masculine gender includes reference to the feminine and vice versa.

The Borrower and Bank are hereinafter collectively referred to as the Parties and individually as a Party. WHEREAS the Borrower has requested the Bank online, to sanction an overdraft facility against the security of any shares, or other securities satisfactory to the Bank which may be pledged by the Borrower from time to time, hereinafter referred to as the Security/Securities.

AND WHEREAS the grant of the said overdraft facility, if any by Bank, shall depend upon the terms and conditions contained herein:

The Borrower hereby irrevocably and unconditionally agrees to abide by the following terms and conditions:

1. The grant by the Bank to the Borrower of an overdraft facility (“Overdraft Facility”) shall be upon the terms and conditions contained herein. The Borrower understands and acknowledges that the actual amount of the overdraft facility that may be sanctioned from time to time would depend on the discretion of the Bank, the value of the Securities to be pledged/ charged in favour of the Bank and the Bank's policies from time to time and the maximum aggregate amount of such facility shall at no time exceed regulatory limits as may be prescribed from time to time, if any. The grant of the overdraft facility in favour of the Borrower is conditional upon (i) the Borrower pledging/ charging the Securities in favour of the Bank in a manner which is satisfactory to the Bank. The pledge of the Securities shall be created by the Borrower in the manner specified by the Bank prior to the disbursement of any advances by the Bank to the Borrower as an exclusive charge to the Bank towards repayment of all amounts due pursuant hereto, including the principal amount sanctioned to the Borrower together with the interest accrued, compound interest, default interest, all other monies, fees, costs, expenses, charges, etc., (Outstanding Balance)under these terms (ii) the Borrower complying with such other conditions as may be required by the Bank from time to time. The Borrower hereby acknowledges and agrees that in the event they do not comply with the conditions specified in (i) and (ii) above (viz. they do not pledge/ charge the Securities in favour of the Bank) within a period of 30 (Thirty) days of the execution hereof, the Bank may, at its sole discretion, cancel the overdraft facility without any reimbursement of the processing fee and/or any other charges already paid by the Borrower in connection thereof. For clarity, even if the combination of holders in the demat account from which the Securities shall be pledged in favour of the Bank, is different from the combination of holders in the overdraft account/current account, the Borrowers shall have no objection to the same.
   
   
   
2. The sanctioned amount of the overdraft facility (“Sanctioned Credit Limit”) that the Borrower shall draw the amounts from the overdraft facility from time to time, as per the conditions hereof, would depend upon the discretion of the Bank and the value of the Securities to be pledged with the Bank from time to time prior to the disbursal/ drawal of any amounts under the overdraft facility. The decisions in respect of the valuation of the Securities, margin money and the actual disbursal under the overdraft facility would be exclusively taken by the Bank and will be binding on the Borrower. As on the date of acceptance of the terms and conditions mentioned herein, the Sanctioned Credit Limit is as mentioned in the Schedule. In terms of the Bank's policies and based on the value of the Securities, the Sanctioned Credit Limit could stand enhanced or reduced accordingly, but in any event will not exceed the amount of the overdraft facility. It is clarified, however, that the mere provision of Securities by the Borrower and/or compliance by the Borrower of the other conditions that may be stipulated by the Bank would not automatically entitle the Borrower to an increase in the amount sanctioned by the Bank under the overdraft facility and any such increase would be at the sole discretion of the Bank whose decision in this regard shall be final and binding on the Borrower. The Borrower understands and acknowledges that the Borrower is not entitled to draw cheques on and/or issue payment instructions with respect to the overdraft account in an amount which is greater than the un-drawn Sanctioned Credit Limit and that any cheque presented for an amount greater than the un-drawn Sanctioned Credit Limit (as prevalent on the date of such presentment) shall be dishonoured by the Bank and the Bank shall not be responsible or liable for any losses or damages which the Borrower may suffer as a result of such cheque(s) being dishonoured. It is clarified that this will be the case even when the amount of the cheque was equal to or lower than the un-drawn Sanctioned Credit Limit at the time of its issue but in excess of the un-drawn Sanctioned Credit Limit at the time of its presentment.
   
   
   
3. Notwithstanding anything mentioned in the facility documents, the Borrower acknowledges that the Bank reserves an unconditional right to cancel/terminate Borrower's right to avail of or make drawals from the unavailed portion of the Overdraft Facility sanctioned at any time during the currency of the Overdraft Facility, without any prior notice to the Borrower.
   
   
4.  Further changes in Sanctioned Credit Limit will be communicated from time to time by various means and methods and this would be the Borrower's Sanctioned Credit Limit and will be reflected in the Bank's system as the Sanctioned Credit Limit. Such communication may be by way of email, SMS or monthly bank statements, telegram or any other mode as mutually agreed between the Bank and the Borrower.
   
   
   
5. Notwithstanding anything stated elsewhere in these terms and conditions, the continuation of the Overdraft Facility shall be at sole and absolute discretion of the Bank and the Borrower's outstanding shall be payable to the Bank on demand. The Bank may at any time in its sole discretion and without assigning any reason call upon the Borrower to pay to the Bank the Borrower's outstanding and there upon the Borrower(s) shall, within 7 (Seven) days of being so called upon, pay the whole of the Borrower's outstanding to the Bank without any delay or demur.
   
   
   
6. Without Prejudice to the provisions of clause (5) the credit facility will be available for a period of 12 (Twelve) months only and the Borrower shall repay the same on or before the expiry of the said period. Notwithstanding the aforesaid, the overdraft facility shall stand renewed for further periods of 12 (Twelve) months each time, unless the Bank on its review, has specifically indicated its unwillingness for such renewal. However in cases where the Bank proposes to make such renewal subject to certain conditions, the renewal will occur only on the Bank intimating the Borrower of such conditions at least 15 days prior to the expiry of the aforesaid 12 month period and the Borrower either expressly accepting such conditions or impliedly accepting them by continuing to enjoy the overdraft facility and/or not making payment of the amount due in respect of the overdraft facility on or before the expiry of the aforesaid 12 month period. On such renewal these terms and conditions and all other documents, deeds and writings whatsoever executed pursuant hereto or in connection hereto, as may be amended from time to time, and/or overdraft facility shall continue in full force and effect, subject to the terms and conditions on which the overdraft facility is renewed.
   
   
   
7. The overdraft facility shall carry interest at the rate as mentioned in the Schedule, upon the daily balances shown by the bank account which reflects the amount availed by the Borrower under the overdraft facility (hereinafter referred to as the overdraft account), which interest shall be payable on monthly or quarterly rests or other interval as the Bank may decide from time to time. The aforesaid rate of interest on daily balances may be varied by the Bank from time to time. Further the interest payable by the Borrower shall be subject to changes in interest rates made by the Reserve Bank of India (RBI) from time to time. Such revised rate may be subsequently intimated to the Borrower. The Borrower acknowledges that the Borrower is aware of the interest rate and of the fact that the same will fluctuate throughout the tenure of the overdraft facility. The Borrower agrees and accepts that the rate of interest declared by the Bank from time to time shall be binding on the Borrower. It is also agreed that advances against different types of Securities may carry different rates of interest. Therefore, the Bank at its absolute discretion reserves the right to charge different rates of interest on the overdraft facility based on the types of Securities pledged as may be advised by the Bank to the Borrower from time to time. The Borrower gives irrevocable and unconditional authority to the Bank to debit from time to time, his account with the principal amount, interest amount, compound interest, default interest, all other monies, fees, costs, expenses, charges, etc and appropriate the same in the discretion of the Bank. The Borrower confirms that the Borrower is aware that the interest debited by the Bank in respect of the overdraft account has to be serviced at monthly intervals or at such intervals as may be applicable from time to time, by way of crediting such interest amounts into the overdraft account. The fixed rate of interest mentioned in the Schedule is applicable from the date of these terms and conditions and is applicable till the renewal/ annual renewal. The new fixed rate applicable upon renewal for the next 1 (one) year and every successive renewal period of 1 (one) year shall be communicated by the Bank to the Borrower at/ around the time each renewal and each such new fixed rate shall be applicable from the corresponding date of renewal. The Borrower’s continued use of the facility and/or overdraft limit and/or non-closure of the current account shall amount to the Borrower’s acceptance of the new fixed rate applicable upon such renewal without any further act, deed or writing. Each fixed rate as communicated by the Bank and as applicable for each renewal period shall be deemed to have been incorporated in the Schedule hereto and deemed to be part and parcel of these terms and conditions without any further act deed or writing. It is expressly agreed by the Borrower that the Borrower shall be liable to pay to the Bank a fee as mentioned in the Schedule, on the overdraft facility amount disbursed to the Borrower, as may be intimated by the Bank, as Custodial and Processing Charges and this fee shall be paid at the beginning of the year. In addition, the Borrower hereby agrees and undertakes to pay all the charges and costs specified in the Schedule hereto (including the demat charges).The Borrower further understands and acknowledges that the charges which are in the nature of fees are exclusive of service tax. Service tax, and other government levies, as applicable, will be charged additionally.
   
   
   
8. All present and future costs and expenses, taxes (as applicable from time to time), any related levy, commission, interest, charges, stamp duty, in all jurisdictions, in relation to this /other documents/any transaction pursuant thereto, irrespective of who the beneficiary is, shall be borne and payable solely by the Borrower, including for creation, enforcement, preservation of security, recovery, initiating/defending/pursuing any legal proceedings/ actions by Bank. In case of any such sums if paid or incurred by the Bank, the Borrower shall be liable to reimburse the same to the Bank in full forthwith.
   
   
   
9. If the Borrower does not pay interest at the times, in the manner and at the rate specified in clause (7), the Borrower shall be obliged to return all the amounts due immediately.
   
   
   
10. The Borrower represent(s) and warrant(s) that (which shall be deemed to have been repeated to the Bank on the date of the Disbursement and on each date thereafter till entire repayment): (a) The Borrower is a citizen of India and a major (in terms of age) and is of sound mind and is competent to contract and enter into and perform his/her obligations contemplated under this document/ other document/in respect of the overdraft facility; (b) There is no impediment or restriction, whether under law, judgment, order, award, contract or otherwise, for any of the Borrowers entering into and/or performing any of the transactions contemplated by this /other documents/ in respect of the overdraft facility and all approvals and consents, wherever necessary have been duly obtained and are and will continue to be in full force; (c) The execution hereof constitutes legal, valid and binding obligations of the Borrower. The Borrower is duly empowered and authorised to borrow the overdraft facility amount, enter into and/or perform any of the transactions contemplated by this document/other documents/ in respect of the overdraft facility; (d) All declarations made by Borrower are true and complete and no material information has been suppressed/ withheld.
    
    
    
11.  The Borrower should maintain adequate books of accounts, as per applicable accounting practices and standards, which should correctly reflect its financial position and scale of operations and should not radically change its accounting system without notice to the Bank.
    
    
    
12.  The Borrower should submit to the Bank such financial statements as may be required by the Bank from time to time in addition to the set of such statements to be furnished by the Borrower to the Bank as on the date of publication of the Borrower's annual accounts.
    
    
    
13. The Borrower shall keep the Bank informed of the happening of any event likely to have a substantial effect on their profit or business: for instance, if, the monthly production or sales are substantially less than what had been indicated, the Borrower shall immediately inform the Bank with explanations and the remedial steps taken and I or proposed to be taken.
    
    
14. The Borrower shall keep the Bank advised of any circumstance adversely affecting the financial position ofcompanies in which it has invested, including any action taken by any creditor against the said companies legally or otherwise.
    
    
    
15. The Borrower shall deal with the Bank exclusively, and shall not open current accounts with any other bank without our prior permission.
    
    
    
16.  Negative Covenants: Unless otherwise approved by the Bank in the form of prior written consent, the Borrower shall not: (a) change the capital structure, ownership, management or control of the Borrower including whereby the effective beneficial ownership, management or control of the Borrower shall change; (b) create, assume or incur any further indebtedness of a long term nature (including borrowing, standing as surety or issuing guarantees) whether for borrowed money or otherwise, until the Outstanding Balances hereunder have been paid in full; (c) sell, license, let, lease, transfer, alienate, dispose of in any manner whatsoever, surrender or otherwise encumber any of its securities, assets, rights, title or interest, receivables, or any part thereof; or create, facilitate or permit to exist any charge, encumbrance or lien of any kind whatsoever over any of its property or grant any option or other right to purchase, lease or otherwise acquire, any such assets or part thereof, except in favour of the Bank. (d) undertake any new project, implement any scheme of expansion/ diversification or capital expenditure or acquired fixed assets. (e) invest by way of share capital or in any other manner in any other person, entity or concern or lend or advance funds to or place deposits with any other concern or issue guarantee or stand surety for any person. (f) repay monies brought in the business by friends and relatives by way of deposits / loans I advances. Further, the rate of interest if any, payable on such deposits /loans I advances should be lower than the rate of interest charged by the Bank on its overdraft facility and payment of such interest will be subject to regular repayment of installments to the overdraft facility granted I deferred payment guarantees executed by the Bank or other repayment obligations, if any, due from the borrower to the Bank. (g) enter into borrowing arrangement either secured or unsecured with any other bank, financial institution, company or otherwise or accept deposits which creates any indebtedness. (h) undertake any guarantee or letter of comfort in the nature of guarantee on behalf of any other person (including controlled concerns). (i) create any charge, lien or encumbrance over its assets or undertaking or any part thereof in favour of any financial institution, bank, company, firm or persons. (j) enter into any contractual obligation which, in the reasonable assessment of the Bank, is detrimental to lender's interest. (k) undertake any trading activity other than the sale of products arising out of its own manufacturing operations. (l) change/ cease/ retire from/ terminate/ resign from the present employment/ profession/business disclosed in the application; or change, terminate or open any bank account.
    
    
    
17. Happening or occurrence of any of the following events shall constitute an Event of Default: (a) Failure and/ or breach on Borrower's part to perform any of the obligations or terms or conditions applicable under these terms and conditions/other documents/ any other agreement with any other person including nonpayment in full of any part of the Outstanding Balance when due or when demanded by Bank; (b) any misrepresentations or misstatement by the Borrower under these terms and conditions/ other document; (c) If there is any deterioration or impairment of the security or any part thereof which causes the security in the judgment of the Bank to become unsatisfactory as to character, including depreciation in the value or market price of the assets there under whether actual or reasonably anticipated; (d) where a receiver is appointed or any attachment, distress, execution or other legal process is threatened, enforced or levied upon against the Borrower/its assets/ or any of the security; (e) where the Borrower fails or intentionally omits to get the charge created by way of the security registered in accordance with the provisions of applicable law; (f) the event of death, liquidation, failure in business, insolvency, bankruptcy, or initiation of any proceedings/ actions/ notices for any of them, change or termination of employment/profession/business for any reason whatsoever; (g) If it is certified by an independent Chartered Accountant or valuer (appointed by the Bank in its sole discretion), that the liabilities of the Borrower exceed the Borrower's assets or that the Borrower is carrying on business at a loss; (h) If any circumstance or event occurs which is or is likely to prejudice, impair, imperil, depreciate or jeopardize the security and/or the capacity of the Borrower to repay the amounts or any part thereof including where the Borrower ceases to enjoy the confidence of the Bank; (i) If subsequent to the grant of the overdraft facility, the Borrower is/are divorced or is a party to any proceeding in any family court/ settlement/ dispute; (j) If the Borrower becomes lunatic or is convicted under any criminal law in force; (k) Any failure or default by the Borrower in payment/repayment pursuant to any of its indebtness or any surety obligation to any person;
    
    If any Event of Default or any event which, after the notice or lapse of time or both would constitute an Event of Default shall have happened, the Borrower shall forthwith give the Bank notice thereof in writing specifying such Event of Default, or such event.
    
    On the question whether any of the above events/circumstances has occurred/ happened, the decision of the Bank shall be final, conclusive and binding on the Borrower.
    
    Upon happening/occurrence of any Event of Default, without prejudice to Bank's rights and remedies under contract or law, and without necessity of any demand upon or notice to the Borrower, all of which are hereby expressly waived by the Borrower, and notwithstanding anything to the contrary contained herein or in any of the security documents, the Bank may at its absolute discretion, pursue any or all of the following, and whether simultaneously or independently or otherwise,:
    
    (i) declare the entire Outstanding Balance and all of the obligations of the Borrower to the Bank hereunder, to have become due and payable by the Borrower to Bank forthwith thereupon, in which event the Borrower shall be liable to forthwith pay to the Bank the entire Outstanding Balance;
    
    (ii) to enforce the security or any part thereof, including by selling, transferring or disposing off the assets/ some or any part thereof either by means of private treaty or public auction or otherwise, with or without the intervention of any Court/ tribunal;
    
    (iii) to exercise, initiate and pursue any action, rights, notices, remedies, any proceedings (including litigation), whether civil, criminal or otherwise in nature, and including for recovery of Outstanding Balance.
    
    
    
18. Notwithstanding anything to the contrary in this document or any other document/arrangement: (i) in respect of all and any of Borrower's present and future liabilities to the Bank, its affiliates, group entities, associate entities, parent, subsidiaries, any of their branches (collectively Relevant Entities), whether under this document or under any other obligation/loan/facilities/borrowings/document, whether such liabilities are/be crystallised, actual or contingent, primary or collateral or several or jointly with others, whether in same currency or different currencies, whether as principal debtor and/or as guarantor and/or otherwise howsoever (collectively Liabilities), each of the Bank and the Relevant Entities shall in addition to any general lien or similar right to which any of them as bankers may be entitled by law, practice, custom or otherwise, have a specific and special lien on all the Borrower's present and future stocks, shares, securities, property, book debts, demat account, all moneys in all accounts whether current, savings, overdraft, fixed or other deposits, held with or in custody, legal or constructive, with the Bank and/or any Relevant Entities, now or in future, whether in same or different capacity of the Borrower, and whether severally or jointly with others, whether for any banking relationship, safe custody, collection, or otherwise, whether in same currency or different currencies; and (ii) separately, each of the Bank and the Relevant Entities shall have the specific and express right to, without notice to and without consent of the Borrower, set-off, transfer, sell, realize, adjust, appropriate all such amounts in all accounts (whether prematurely or upon maturity as per the Bank's discretion), securities, amounts and property as aforesaid for the purpose of realizing or against any of dues in respect of any of the Liabilities whether ear-marked for any particular Liability or not, combine or consolidate all or any of accounts of the Borrower and set-off any monies, whether of same type or nature or not and whether held in same capacity or not including upon happening of any of the events of default mentioned in any of the documents pertaining to the respective Liabilities or upon any default in payment of any part of any of the Liabilities. (iii) The Bank and the Relevant Entities shall be deemed to have and hold and continue to have first charge on any assets including any deposit on which security has been/will be created in respect of the overdraft facility, as security also for any of the other Liabilities and all the rights and powers vested in the Bank in terms of any security or charge created for the overdraft facility shall be available to the Bank and/or the Relevant Entities also in respect of such other Liabilities, irrespective of the fact whether the overdraft facility is at any time outstanding, repaid or satisfied or not and even after the overdraft facility has been repaid or prepaid.
    
    
    
19. Any default in payment of dues or in observance by the Borrower of any terms and conditions of this overdraft facility or in case of any misrepresentations by the Borrower, an additional interest as mentioned in the Schedule on the defaulted or overdrawn amount or the amount outstanding , shall be payable by the Borrower and shall be leviable from the date of the default until the date of payment of dues together with interest without prejudice to the Bank's other rights available as per the terms and conditions mentioned herein and in law.
    
    
    
20. Bank shall be entitled at its discretion to engage/ avail of, at the risk and cost of the Borrower, services of any person/third party service provider/agent/agency, for anything required to be done for/ in relation to/ pursuant to the overdraft facility, including collections, recovery of dues, enforcement of security, getting or verifying any information of the Borrower/ assets, and any necessary or incidental lawful acts/ deeds/ matters and things connected thereto, as the Bank may deem fit.
    
    
    
21. The Bank shall have the right to not return the application, the photographs, information and documents submitted by the Borrower. The Bank shall, without notice to or without any consent of the Borrower, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to Borrower including personal information, details in relation to documents, Loan, defaults, security, obligations of Borrower, to Credit Information Companies (CICs) and/or any other governmental/regulatory/statutory or private agency/entity, credit bureau, RBI, the Bank's other branches/ subsidiaries / affiliates / rating agencies, service providers, other banks / financial institutions, any third parties, any assignees/potential assignees or transferees, who may need the information and may process the information, publish in such manner and through such medium as may be deemed necessary by the publisher/ Bank/ RBI, including publishing the name as part of willful defaulter's list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes. In this connection, the Borrower waives the privilege of privacy and privity of contract. The Bank shall have the right, without notice to or without any consent of the Borrower, to approach, make enquiries, obtain information, from any person including other banks/finance entities/credit bureaus, Borrower's employer/family members, any other person related to the Borrower, to obtain any information for assessing track record, credit risk, or for establishing contact with the Borrower or for the purpose of recovery of dues from the Borrower.
    
    
    
22. Any notice or correspondence shall be addressed by the Bank at the address given by the Borrower in the Schedule. The same would be deemed to have been served at the time it would be delivered in the normal course. Notices may also be served by the Bank by telegram/ facsimile transmissions/e-mail at the numbers/ email addresses indicated in the records available with the Bank at that point in time. Internal records of the Bank noting the grant of such notice would be sufficient proof of delivery of such notice although such internal records may not specifically note the contents of such notice/ communication.
    
    
    
23. The Borrower agrees to accept the statement of account sent by the Bank or by any other authorised representative of the Bank as conclusive proof of the correctness of any sum claimed by the Bank to be due from him.
    
    
    
24.  The Borrower agrees to use the funds for personal purpose only and not to utilise the overdraft facility: (a) for any speculative purposes; and/or
    
    (b) for any anti social or illegal purpose.
    
    (c) for purchase of Land, Gold, Gold ETF/Gold Bonds/Gold Mutual Funds
    
    (d) Funds from LAS Facility account where Mutual Funds is also pledged, will not be used for Capital Market /Purchase of Mutual Funds / Fixed Maturity Plans / Bonds / Debentures etc.
    
    
    In the event of the funds being used for any speculative purposes and/or anti-social purposes contrary to the provisions in this clause, the Borrower shall provide the Bank with a written intimation. The Bank shall have the right to recall the advance if the funds are used for any other purpose other than declared and/or for speculative purposes (where such use is prohibited by this clause) and/or anti-social purposes.The Bank reserves the right to close the account in case of unsatisfactory conduct of the account.
    
    
    
25. Where the Borrower is an intermediary registered in terms of Section 12 of the Securities and Exchange Board of India Act, 1992, the Borrower hereby agrees and undertakes:
    
    (i) not to deal in penny stocks in any manner as stipulated in SEBI directives
    
    (ii) to maintain segregation of securities held by him/ her on behalf of clients from the securities held by the Borrower in his/her name, as required by the SEBI regulations
    
    (iii) to confirm that the client securities will not be offered as security for borrowing from the Bank in any manner whatsoever
    
    (iv) to provide details of securities held on behalf of clients and securities held by the Borrower in his/her own name to the Bank on demand
    
    
    
26. In the event that the Borrower creates a pledge of the Securities in favour of the Bank and the Bank advances monies to the Borrower under the overdraft facility in the manner set out herein, the Borrower acknowledges that:
    
    (i) The Bank may at any time require the Borrower to change the Securities that may be pledged, whether belonging to or held in the name of the Borrower. At the request of the Borrower, the Bank may in its sole discretion allow the Borrower to withdraw the Securities and change the Securities with other Securities of similar nature and value which shall be pledged in favour of the Bank. Such withdrawal may also be made on the Borrower issuing instructions in writing and the Bank shall be entitled to act in accordance with such instructions of the Borrower.
    
    (ii) If at any time the value of the Securities falls so as to create a deficiency in the margin requirement specifiedby the Bank from time to time or there is a withdrawal in excess of the overdraft facility limit,the Borrower shall within the Relevant Notice Period from the date of the notice issued by the Bank, deposit with the Bank additional security in the form of cash or such other Securities which may be acceptable to the Bank, failing which the Bank may, at its discretion and without any requirement for further notice or intimation, sell, dispose off or realize any or all of the Securities then held by the Bank, whether on the floor of the stock exchange concerned or as off market trades or otherwise as the Bank may deem fit, without being liable for any loss or damage or diminution in value sustained thereby and the Borrower shall not raise any objections in respect of such disposal of the Securities by the Bank and/or the adequacy of consideration realized therefrom. The Borrower acknowledges and confirms that any such notice issued by the Bank shall be a notice for invocation of the pledge over such Securities for all intents and purposes including, without limitation, for the purposes of Section 176 of the Indian Contract Act, 1872. In the event that the sums realized upon such sale of the Securities are not sufficient to make good the deficiency in the margin requirement or the excess overdrawn in respect of the overdraft facility limit, the Borrower shall be obliged to forthwith pay to the Bank the sum required to make good such shortfall.
    
    (iii) In case of nonpayment of the Borrower on the expiry of the term of the overdraft facility or in case the Borrower fails to make any payment due to the Bank in respect of the overdraft facility, the Bank shall have the full rights to sell, dispose off or realise all or any of the Securities then held by the Bank ,whether on the floor of the stock exchange concerned or as off market trades or otherwise as the Bank may deem fit, after giving the Borrower, notice of not less than the Relevant Notice Period, on such terms and for such price that the Bank deems fit, and apply the net proceeds towards the satisfaction of the balance outstanding in the overdraft account including charges, expenses, etc. and the Borrower shall not raise any objections in respect of such disposal of the Securities by the Bank and/or the adequacy of consideration realized therefrom. The Borrower acknowledges and confirms that any such notice issued by the Bank shall be a notice for invocation of the pledge over such Securities for all intents and purposes including, without limitation, for the purposes of Section 176 of the Indian Contract Act, 1872. In the event that the sums realized upon such sale of the Securities are not sufficient to make good the payment due to the Bank in terms of this clause, the Borrower shall be obliged to forthwith pay to the Bank the sum required to make good such shortfall.
    
    The term Relevant Notice Period for shall mean :
    
    a) In the event that the Bank determines that there is a volatility in the stock market resulting in the margin requirement not being maintained at the time of sending any notice in terms of clause 26 (ii), 26 (iii) above, mean a period of 1 (One) calendar day;
    
    b) In any other case, mean a period of 7 (Seven) calendar days.
    
    The Borrower agrees, acknowledges and confirms that the Relevant Notice Period represents a reasonable period of time and any notice which is provided by the Bank in terms of sub-clause 26(ii), 26(iii) above (which provides the Borrower the Relevant Notice Period) would constitute a reasonable notice of sale for all intents and purposes including, without limitation, for the purposes of Section 176 of the Indian Contract Act, 1872
    
    (iv) Any accretion to the Securities by way of dividend, interest, bonus shares, right shares and other benefitsfrom time to time accruing in respect of the Securities or any part thereof shall also be deemed to be pledged with the Bank without any further act or deed of the Parties in this respect.
    
    (v) In case of any corporate action being taken by the company or other entity issuing the Securities, including but not limited to an arrangement, reconstruction, merger, demerger, splitting of the Securities or change in corporate name, any securities issued in place and stead of the Securities shall be deemed to be pledged with the Bank and form a part of the Securities without any further act or deed of the Parties in this respect, provided however that the Borrower shall execute such documents if so required by the Bank in order to perfect the rights of the Bank over the pledged Securities including any securities issued in place and stead of the pledged Securities.
    
    (vi) In the event that the company or other entity which has issued the Securities requires the Borrower to do any act in relation to the Securities or makes any offer to the Borrower by reason of the Borrower being the holder of the Securities and if the Borrower does not do such act or accept such offer, the Bank shall be entitled but not obliged to, for the purpose of protecting the value of the Securities or its rights under these terms and conditions, perform such act or accept such offer at the cost and expense of the Borrower.
    
    (vii) During the continuance of the pledge of Securities, all voting rights in respect of the Securities shall be exercisable solely and exclusively by the Bank or as per the instruction of the Bank subject only to the directions of the Reserve Bank of India.
    
    (viii) The Securities to be pledged by the Borrower in respect of the grant of any advance under the overdraft facility would be a continuing security to the Bank for all monies which are due from the Borrower and the Securities which will be pledged in favour of the Bank will be free from any charge and the Borrower shall keep them as such during the time the Securities are pledged with the Bank.
    
    (ix) The Borrower shall not seek duplicates of the Securities to be pledged to the Bank from the respective companies or stop the transfer thereof to the name of the Bank or its nominees.
    
    (x) The Borrower shall execute in favour of the Bank or any nominee of the Bank transfer deeds/documents etc.at the request of the Bank and ensure the validity of the transfer deeds/documents. The Bank shall be entitled to transfer the Securities in its own name, at any time and any costs/ expenses incurred in connection which such transfer shall be borne by the Borrower and the Borrower gives authority to the Bank to debit his account for such costs/ expenses.
    
    (xi) The Borrower shall if and whenever required by the Bank, give irrevocable Power(s) of Attorney in favour of the Bank to authorise the Bank to sell or transfer the Securities to be pledged in the form and manner specified by the Bank.
    
    (xii) In event that the company/ies which have issued the Securities issue further shares or securities by way of a rights issue or otherwise howsoever and if the Securities have been transferred in the name of the Bank, the Bank shall give a notice in writing to the Borrower about the same and if the Borrower does not remit the requisite funds to the Bank for applying for the right shares or securities within 7 (Seven) days of the receipt of notice thereof, the Bank shall be entitled but not obliged to apply for and be allotted such further shares or securities at the cost and expense of the Borrower.
    
    (xiii) The Borrower shall not write any letters to the companies which have issued the Securities in respect of which the Power(s) of Attorney in favour of the Bank has been executed in pursuance of clause (xi) above, for cancelling the same.
    
    (xiv) The Borrower shall pay the call monies on the Securities within the time stipulated by the companies (which have issued the Securities) and agrees that the Bank shall not be liable to pay the call monies.
    
    
    
27. Bank shall credit all maturity amounts and any other amount collected/received by it in respect of all Securities that may be pledged with the Bank into the overdraft account and the Borrower hereby agrees to and shall save, defend and hold harmless the Bank and its directors, officers, employers, at all times in respect of all claims, proceedings, demands in respect of the aforesaid, maturity amounts, and other amounts, and shall make good to the Bank any monies which the Bank demands forthwith upon such demand without demur, protest, set-off or counter claim. The Bank shall not be responsible for any delay and/or failure in collecting such amounts from the issuing banks / institutions.
    
    
    
28. The Borrower undertakes to fully comply with the provisions of these terms and conditions and does hereby agree to hold and keep the Bank harmless from any loss (including any amounts, losses, damages, fees including any attorney fees, costs, expenses, etc) that may be incurred by reason of the transactions contemplated herein or by reason of any breach of the provisions of this document whether arising out of any suits, actions, investigations, notices, demands, claims, and the Borrower agrees to make good to Bank any such loss forthwith upon demand by the Bank.
    
    
    
29. The Bank shall be entitled to sell, assign, transfer or securitize the Bank's rights, benefits and obligations hereunder to any person(s) of the Bank's choice in whole or in part and in such manner and on such terms as the Bank may decide. Any such sale, assignment or transfer shall conclusively bind the Borrower. The Borrower shall not be entitled to directly or indirectly assign the benefit or obligation under these presents.
    
    
    
30. The Borrower(s) agree to allow the officers, or auditors (including Borrower's auditors), technical experts or management consultants appointed by the Bank to inspect the Borrower's books of accounts and certify including but not limited to end use of funds, from time to time as required by the Bank and agree to forthwith, upon demand by the Bank, to extend full co-operation and pay for the costs and expenses incurred by the Bank in relation to said inspection.
    
    
    
31. The Borrower hereby consents and specifically confirms that the instructions given by the Borrower to the Bank by way of facsimile or via email (irrespective of whether such instructions so given are electronically signed or not, or are only scanned instructions emailed to the Bank by the Borrower or authorized signatory(ies) of the Borrower) (Virtual Instructions) to perform certain acts which may be permitted by the Bank from time to time, shall be valid, effective and legally enforceable against the Borrower. For the purpose hereof an email shall be deemed to be Electronically Signed if the same has been encrypted / authenticated by using an electronic method or procedure in accordance with the provisions of the Information Technology Act, 2000 or in any other manner / method / procedure / technique as is recognized / envisaged as a valid method of encryption / authentication under the provisions of the Information Technology Act, 2000.
    
    The Borrower shall ensure that the Virtual Instructions shall be sent to such fascimile number/ email address as may be communicated by the Bank to the Borrower from time to time. The Borrower shall upon giving such Virtual Instructions, deliver to the Bank without any delay within 3 (three)business days, the original hard copy of the Virtual Instructions (Hardcopy) signed by the Borrower. Each Hardcopy shall be accompanied by a note or a cover slip which shall state that This is a Hardcopy of the fax/email instructions to you from M/s / Mr./Mrs. _________ (Name of Borrower) sent / transmitted on ____ day of _____ at approximately ____ a.m. / p.m.. In case of non-receipt of such Hardcopy, within the stipulated period, Bank may withdraw such facility without any further intimation. The Bank shall be entitled to rely upon the Virtual Instructions so received and to act upon the same without being required or expected to carry out an independent verification as to the authenticity or validity of the Virtual Instructions. PROVIDED however, that the Bank shall not be obliged to, await receipt of the Hardcopy prior to taking any action in connection with the Virtual Instructions. The Borrower agrees that notwithstanding anything contrary contained herein, the Bank shall not be obliged to act on the Virtual Instructions so received, if the Bank, in good faith, believe / suspect that such Virtual Instructions (i) are not genuine (ii) have not been sent by Borrower (iii) there is an error in transmission or receipt of such instructions or instructions are incomplete /incorrect (iv) there is any ambiguity, lack of clarity or incompleteness in the instructions. The Borrower further agrees that the Bank shall not be liable or responsible for not acting on the basis of any Virtual Instructions in the circumstances mentioned above or any consequences of whatsoever nature including, without limitation, any losses, damages and/or expenses incurred by Borrower arising as a result of or pursuant to the Bank not acting on the basis of any Virtual Instructions as aforesaid. The Borrower acknowledges and is aware that the Virtual Instructions are not a secure or error free mode of communication and is aware of the possible risks involved therein. The Borrower is aware that they have the option of not availing such facility, however, the Borrower acknowledges and confirms that the Borrower has, for its/his/her/their convenience and after being fully aware of, and having duly considered the risks involved (which risks shall be borne fully by the Borrower), opted for such facility of their own free choice and have requested the Bank to rely upon and act on the Virtual Instructions. The Borrower is willing and agreeable to bear all associated risks, responsibility and liability of any misuse or unauthorised use of the facility, and in this regard hereby agrees to and shall save, defend and hold harmless the Bank, and its directors, officers, employers, at all times against any and all claims, demands, actions, suits/proceedings filed against the Bank including consequential losses, damages, costs, liabilities and expenses incurred/suffered or paid or required to be paid by the Bank in connection with Virtual Instructions provided by the Borrower or claimed to have been sent by Borrower or Authorised Signatories of Borrower and received by the Bank and shall made good to the Bank any monies which the Bank demands forthwith upon such demand without demur, protest, set-off or counter claim.
    
    It is clarified that Virtual Instructions to perform certain acts, viz. (i) creation of pledge of shares /securities (ii)removal of pledge of shares/securities and (iii) sale of shares/securities, shall be sent through facsimile only. Notwithstanding anything contained hereinabove, the Bank may at any time without assigning any reason withdraw/terminate the facility given to the Borrower. However, any such termination shall not affect anything done or any rights or liabilities accrued or incurred prior to the termination and the obligation to hold the Bank, and its directors, officers, employers, harmless and/or to make good any monies in respect thereof shall survive any such termination.
    
    
    
32. The Bank and/or its agents (both internal and external) shall have the right to make enquiries and obtain information about the Borrower's affairs (including credit history) in such manner as may deem fit including in particular, making enquiries with and obtaining information from the Credit Information Companies (CICs) of which Bank is a member. The Bank shall also be entitled to disclose or publish without notice to the Borrower any information regarding the Borrower's relationship with the Bank and any information and documents that they might possess from time to time: To any branches of the Bank or other banks, financial institutions, to the Reserve Bank of India and/or any other statutory authority or official of the Government of India or any state, Credit information/reference agencies/bureaus or other individuals/entities either in response to their credit enquiries directed to the Bank or in the event of the Borrower not complying with any of the terms and conditions herein or otherwise. Such agencies/Institution bureaus/Banks may use/process the information and data disclosed by the Bank in the manner as deemed fit by them and may furnish for consideration the processed information and data or products thereof prepared by them, to Banks/Financial Institution and other credit guarantors or registered users, as may be specified by the Reserve Bank of India in this behalf.
    
    
    
33. The overdraft facility, this document/other documents, shall be governed by the laws of India. The parties hereto expressly agree that all disputes arising out of and/or relating to the overdraft facility, this or any other relevant document shall be subject to the exclusive jurisdiction of the court/tribunal of the city/place in which the branch of the Bank from where the disbursement has been made is situated, provided that the exclusivity aforesaid shall bind the Borrower and the Bank shall be entitled to pursue the same in any other court of competent jurisdiction at any other place; and provided further that if any dispute is below the pecuniary jurisdiction limit of the Debts Recovery Tribunals established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, then such dispute shall be referred to arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 as may be amended, or its re-enactment, by a sole arbitrator, appointed by the Bank. The place of arbitration shall be at Mumbai or such city/place in which the branch of the Bank from where the disbursement has been made is situated or such other place as the Bank may determine. The costs of such arbitration shall be borne by the losing party or otherwise as determined in the arbitration award. If a party is required to enforce an arbitral award by legal action of any kind, the party against whom such legal action is taken shall pay all reasonable costs and expenses and attorneys fees, including any cost of additional litigation or arbitration taken by the party seeking to enforce the award. The award given by such an Arbitrator shall be final and binding on all the parties herein. The provision of arbitration clause contained herein shall continue in force in respect of any question, dispute or claim as mentioned in clause above notwithstanding the repayment of overdraft facility.
    
    
    
34. Accordingly, the Borrower hereby agrees and consents to the disclosure by the Bank without notice to the Borrower, of all or any such;
    
    (a) Information and data relating to the Borrower; (b) The information or data relating to any credit facility availed of / to be availed of by the Borrower and (c) Default, if any, committed by the Borrower, in discharge of his/her/its obligations, as the Bank may deem appropriate and necessary to disclose and furnish to Credit Information Companies (CICs) and any other agency authorised in this behalf by RBI.
    
    
    
35. Borrower undertakes that
    
    (a) The Credit Information Companies (CICs) and any other agency so authorised may use and process the said information and data disclosed by the Bank in the manner deemed fit by them; and
    (b) The Credit Information Companies (CICs) and any other agency so authorised may furnish for consideration, the processed information and data or products prepared by them, to banks / financial institutions and other credit grantors or registered users, as may be specified by the Reserve Bank of India in this behalf.
    
    
    
36. The Borrower acknowledges that the Borrower is not a director/senior officer/relative of director or senior officer of/at the Bank or at any other bank or its subsidiaries/trustees of mutual funds/ venture capital funds set up by any bank.
    
    
    
37. The Borrower confirms that the Borrower has not availed any loan against securities(loan against securities or equity based mutual fund units, bonds, debentures) facility from any other bank.
    
    
    
38. The Borrower confirms that the Bank has provided the Borrower with a copy of the Terms and Conditions Applicable to the Overdraft Facility upon request made by the Borrower.
    
    
    
39. The Borrower confirms that he is not a director/promoter of the companies whose shares are to be pledged. The Borrower further confirms that the instruments to be pledged are held by the Borrower, in the Borrower's name as absolute owner/s thereof, and not in the Borrower's capacity as trustees or guardians, or in any other fiduciary capacity.
    
    
    
40. The Borrower confirms that no cash/bearer cheque has been collected from the Borrower up-front towards processing the LAS application. The Borrower also understands that the Bank shall not entertain any discount/free gift or any other commitment whatsoever which is not documented herein by the Bank or any of its authorized representative(s).The Borrower understands that the overdraft facility, sanctioned credit limit, disbursal and continuance of this overdraft facility is at the sole discretion of the Bank and the Bank has not given any commitment regarding the same.
    
    
    
41. Acceptance and Signing
    The Borrower hereby expressly acknowledges and confirms that the Borrower has read, verified, understood, irrevocably agreed to and accepted and delivered all the terms and conditions contained in Clauses 1 to 41 (including sub clauses), the Schedule-cum-Key Fact Statement, Most Important Terms and Conditions, Standing Instruction, and all the contents of the Application (collectively, “Overdraft Facility Documents”) online by ticking/clicking the “I agree” or “I agree and accept” or any similar icon/tab/option on the online system/NetBanking/Website/portal/platform of HDFC Bank as well as by entering the one time password (OTP) provided to the Borrower's registered mobile number. No other/further act, deed or writing on part of the Borrower shall be required for acceptance by the Borrower as above including any different or physical signature for the Overdraft Facility Documents. The Bank also does not require to sign the Overdraft Facility Documents in any physical form. For the purpose of stamp duty the Bank may optionally designate these terms and conditions as the principal terms and conditions or require any extract of any part of it (“Relevant Extract”) to be designated as the principal terms and conditions and such determination of the Bank would be deemed to be final and binding on the Borrower. The Borrower acknowledges that any writing on the said stamp paper or stamped (including franked) Relevant Extract associating the stamp paper/stamped page (including franked) with these terms and conditions would be as good as making the stamp paper/stamped page an integral part of these terms and conditions. The execution of these terms and conditions and Schedule shall be completed upon the Bank accepting this document and the Bank shall be deemed to have accepted and signed this document when the Bank when the Bank counter-signs or initials at the hands of any of its officers the Relevant Extract of these terms and conditions or when the Bank sends an email communication from the Bank’s officer of the branch where the loan account of the Borrower pursuant to these terms and conditions will be opened, and attaching therewith the copy of these terms and conditions.
    
    The Bank may print paper copies of the electronic record or produce in any such form at its discretion this document or any Overdraft Facility Documents and Borrower's signing as aforesaid, and the same shall be fully binding on the Borrower and the Borrower has no objection to such print-outs or any such other form (in the discretion of Bank) being produced by the Bank in evidence in any court, tribunal or otherwise, to prove the acceptance, execution as well as the contents of the contract.

Applied, Accepted, Authenticated, Signed and Delivered by the Borrower through NetBanking using Borrower's NetBanking Customer ID & Password, by ticking the I agree icon on the online system/NetBanking/Website of HDFC Bank as well as by entering the one time password (OTP).

Subject: Express Consents and Undertakings – Application for HDFC Bank Credit Card/ Co-branded Credit Card (“Credit Card”)

By clicking/ticking the check box, I hereby agree to the below terms and declare, confirm and provide my consent to HDFC Bank Ltd. (“Bank” or “HDFC Bank”), who has/ may have entered into arrangements with certain co-branded partners/entities from time to time (“Co-branded Entities”) for issuing Co-branded Credit Cards (“Co-branded Credit Card”) and certain entities managing the rewards program that the Bank may engage with from time to time (“Reward Program Entities”) as under:

A] GENERALTERMS & CONDITIONS

1. I confirm that I have read and understood the product features, pricing, application, terms and conditions (T&C), Most Important Terms and Conditions (MITC) and the Card Member Agreement (CMA) applicable to the Credit Card and I hereby give my full acceptance to the same. I hereby give my explicit consent and confirm that the online application form submitted by me to HDFC Bank shall be valid, effective and legally enforceable against me.

2. For the purpose herein, I confirm that the document is deemed to be ELECTRONICALLY SIGNED if it has been encrypted/authenticated using an electronic method OR by using any other method/technique recognized/envisaged as a valid method of encryption/authentication under the provisions of the Information Technology Act 2000.

3. I also give my consent to receive information/service for the purposes of marketing through telephone/mobile/SMS/E-mail/any other mode from Bank/or its agents. In sync with the Go-Green initiative of the Bank, I register for the E-statement facility in relation to my Credit Card to be sent to my registered e-mail ID and acknowledge the fact that physical statements will not be sent to me by the Bank/or its agents.

4. I hereby declare that the information included in this application is true and correct and that I am a resident Indian/that I am a foreign national working in India and that I am eligible to apply for the Credit Card, which may be an internationally valid card. I undertake to inform the Bank of any changes therein immediately. In case any of the information submitted by me is found to be false or misleading or misrepresenting, I am aware that I may be held liable for it as per Applicable Law. I accept that HDFC Bank is entitled in its absolute discretion to accept or reject this application. It is my responsibility to obtain the terms and conditions applying to the Credit Card(s) separately and read the same. I will be bound by the terms and conditions as may be in force from time to time and receipt/use of the card shall be deemed to be acceptance of those terms and conditions as may be amended from time to time. I authorise HDFC Bank and/or its associates to verify any information or otherwise at my office/residence or to contact me/my employer/banker/credit bureau/Reserve Bank of India (RBI) or any other source to obtain or provide any information that may be required for confirming membership requirements or maintaining my account in good credit standing. I agree to be charged my card fee as applicable. I authorize the Bank to block my issued card if my resident status changes from Resident Indian to Non -Resident Indian in the future and I agree to forthwith clear the dues to the Bank upon occurrence of such an event, if any. In case I have applied for Add-on card(s) (available for resident Indian parent/spouse/brother/sister/child over 18 years of age at a special rate) I will be billed for such an Add on card in the normal monthly statement. I, the primary applicant will be liable for all charges incurred with the Add-on card(s) issued on the account and each Add-on applicant will be liable for all charges incurred with the Add-on card jointly and severally with the holder of the primary card. The facility of Add-on card(s) being a special facility at a concessional fee/rate, continuation of the Add-on card member will be dependent on the continuation of my membership. I understand and undertake that the usage of the Credit Card(s) shall be strictly in accordance with the exchange control regulations, applicable laws or regulations of the Regulatory Authorities as applicable from time to time which I undertake as my responsibilities to keep myself updated of and also, that the Credit Card(s) will not be used for prohibited transactions including but not limited to forex trading, lottery, betting, gambling, dating websites. In the event of any failure to do so, I will be liable for action under the Foreign Exchange Management Act, 1999 or its statutory modification or re-enactment thereof.

5. I confirm that I have no insolvency proceedings pending against me nor have I ever been adjudicated insolvent. I agree that my signature on the charge slip will amount to an unconditional undertaking by me to pay HDFC Bank the amount stated therein and agree that a copy of my periodic statement of accounts will be a conclusive evidence of my liability for the charges stated therein. My liability under the charge slip signed by me shall not withstand any dispute I may have with respect to the quality/quantity of goods purchased or quality of services obtained. I will not hold the Bank responsible if any outlet/franchisee refuses to accept the Credit Card. I authorise HDFC Bank to disclose, from time to time, any information relating to my Credit Card(s), (including any default in payments) to any other card issuer, credit bureau, financial institution, any parent/subsidiary, affiliate and associate of HDFC Bank or Co-brand Entities and to third parties engaged by HDFC Bank, for purpose such as proper operation of Credit Card accounts, rewards points management and other administrative services. The Bank will be entitled to cancel my Credit Card(s) at any time without assigning any reasons. I understand Goods & Services Tax as applicable from time to time will be levied on fees, interest and other charges, as per government guidelines. I understand that Goods & Services Tax is not applicable on my regular purchases. I am aware that the Bank reserves the right not to return the supporting financial know your customer (KYC) documents and/or any photographs given by me along with the application. I have received and read the detailed terms and conditions and agree to abide by them, once I am allotted with the Credit Card. I hereby confirm that I have also read and understood the contents of the Schedule of Charges and disclosure details and agree to be levied with various charges mentioned therein as and when applicable to me. I confirm that basis my eligibility HDFC Bank shall at its sole discretion reserves the right to issue any existing card product in their portfolio. Credit limit on any card account may be reviewed as per the Bank policies specified from time to time and the Bank reserves the right to revise (increase or decrease) and/or unconditionally cancel the limit assigned on the Card with due intimation to the card member. In case of a decrease in the limit, the Bank will inform me of the same through SMS/e-mail. On successful processing of the Credit Card and in case of any failure in delivering the same to my residential address, the Bank reserves the right to utilize the alternate address submitted to by me to the Bank for the delivery of the Credit Card during the application. I also understand that the Bank reserves the right to vary any or all of the Terms & Conditions of the Schedule of Charges from time to time, with due intimation to the card member. Changed Terms & Conditions shall be communicated through the Bank's website and by other acceptable modes of communication. I authorise the Bank to record specific conversations between me/my representative and the Bank's representative, in case of grievance-related conversations or payment-recovery-related conversations or any other conversation that the Bank may deem fit, at its own discretion. I agree to abide by any Terms and Conditions as may be added/amended by the Bank from time to time regarding this Credit Card and any other facility/loan product that I avail through this Credit Card or any other Credit Card that I may be issued by the Bank in the future. I agree to receive my card statements through E-mail on the E-mail IDs mentioned in the application form. I confirm that I do not have any existing customer ID's apart from the one mentioned in my application form/ shown to me during the application process, and in case found otherwise, Bank reserves the right to consolidate the customer ID's under a single customer ID as it may decide, without any prior notice to me. I authorize the Bank to make enquiries regarding my application. I am aware that my new credit Card would be automatically registered for Net Banking in case I am an existing HDFC Bank Net Banking customer. I understand that HDFC Bank will provide me a Credit Card according to the Bank's internal guidelines. I hereby give my consent to the Bank to provide me a different card in case I am not eligible for the product applied for.

6. MITC: I confirm that I have read and understood the MITC (Most Important Terms & Conditions) fully. I am aware that the MITC is also available in the Bank's website www.hdfcbank.com.

7. I agree to participate in any or all of the Card Upgrade programs or Limit Enhancement programs that the Bank may conduct on my Credit Card account from time to time as part of periodic portfolio reviews.

8. I hereby authorise the Bank to use my signature as recorded with the Bank in my savings/ current account for authenticating my request/instructions to the Bank in case the Bank cross-sell/offer any products or features on my Credit Card in the future.

9. I agree that HDFC Bank will issue the Insta Credit Card basis the Bank's internal policy criteria, and Insta Card can only be used for online transactions where there is no necessity for physical card presence and the responsibility of any risk arising out of usage of Insta Card solely lies with me. I also agree that I will not share the Insta Credit Card email and password with any third party and that any fraud/liability arising due to the same will be with me and confirm that HDFC Bank shall not be held responsible for any loss or damages that occur on account of any misuse/fraudulent activity carried by third party. HDFC Insta card will be sent in a password protected PDF containing the card details on customer's registered email ID with the Bank. The password to open the PDF will be sent to customer's registered mobile number with the Bank.

10. Virtual card: (a) Ensuring security of the cardholder, there will be cap on the upper limit on the daily spends amount on the virtual card for the transaction/s done via E-commerce website/s. This cap on the upper limit on the virtual card will be applicable until the date the physical card is delivered to the cardholder. (b) Any wallet loading transaction done through the virtual card, HDFC Bank would levy a charge of 2.5% on the load value.

11. I understand and acknowledge that my request for linkage of my Aadhar Card with the HDFC Bank Credit Card is subject to validation with the concerned authorities and the discretion of HDFC Bank. I hereby consent to have my HDFC Bank Credit Card auto registered on PayZapp.

12. My personal KYC details may be shared with central KYC Registry. I hereby consent to receive information from central KYC registry through SMS/E-mail on the phone number/email address as mentioned in this application form.

13. I hereby give my consent and specifically confirm that the online application form submitted by me to HDFC Bank shall be valid, effective and legally enforceable against me though it is not electronically signed by me. For the purpose hereof, a document shall be deemed to be Electronically Signed if it has been encrypted/authenticated by using an electronic method or procedure in accordance with the provisions of the Information Technology Act, 2000 or in any other manner/method/procedure/technique as is recognized/envisaged as a valid method of encryption/authentication under the provisions of the Information Technology Act, 2000.

14. I further authorize HDFC Bank and/or its associates/subsidiaries/affiliates to verify from, and disclose to, any information pertaining to me /my office/residence and/or contact my family members and/or my Employer/Banker/Credit Bureau/CIBIL/RBI and/or any third party as they deem necessary and/or to do any such verification as they deem necessary.

15. I seek from the Bank various financial assistance, other products and services for which I may be found eligible by the Bank from time to time, at any time in future, including after closure of any of my existing or future relationships, accounts, products, facilities, loans, services with or from the Bank from time to time, for which purpose I authorise the Bank to share any of my Information (as defined hereinafter) as per the Consent Terms in Clause E below.

16. I agree not to make payments towards the card account from FCRA account and if any such payments are observed, I am aware that a notice from the Ministry of Home Affairs seeking explanation for such payments would be received.

17. Skimming Undertaking - Skimming is defined as the compromise of the full data encoded on a genuine credit card, including the CVV, followed by the transfer of this data onto the counterfeit card. I confirm that HDFC Bank has informed me about the various risks (including but not limited to fraudulent usage, lost card and skimming risk) associated with high credit limits set on individual cards. I have independently evaluated and understood the risks and have made an informed decision to request the Bank in setting up high credit limit on the individual card. I agree and undertake full and absolute liability on the card keeping in mind the risks as above mentioned

18. The communication details i.e., Address, Mobile, Landline &Email id entered for the Credit Card application will not get updated in the Bank's liability records.

19. I accept that the information provided in the online application form will be considered in the same lines as a physical application form for any future reference.

20. I am aware that the approximate processing time of my application is about 7-10 working days from the date of submission of completed form in all aspects.

21. I am also aware and agree that in the event of my application getting approved, E-statements would be sent to the Email id as updated in your records.

22. I voluntarily opt for Aadhaar OVDKYC or e-KYC or offline verification, and submit to the Bank my Aadhaar number, Virtual ID, e-Aadhaar, XML, Masked Aadhaar, Aadhaar details, demographic information, identity information, Aadhaar registered mobile number, face authentication details and/or biometric information (collectively, “Aadhaar related Information”).

23. I am informed by the Bank, that: (i) submission of Aadhaar is not mandatory, and there are alternative options for KYC and establishing identity including by way of physical KYC with officially valid documents other than Aadhaar. All options were given to me. (ii) For e-KYC/authentication/offline verification, Bank will share Aadhaar number and/or biometrics with CIDR/UIDAI, and CIDR/UIDAI will share with Bank, authentication data, Aadhaar data, demographic details, registered mobile number, identity information, which shall be used for the informed purposes mentioned in 3 below.

24. I authorise and give my consent to the Bank (and its service providers), for the following informed purposes: (i) KYC and periodic KYC process as per the PML Act, 2002 and rules thereunder and RBI guidelines, or for establishing my identity, carrying out my identification, offline verification or e-KYC or Yes/No authentication, demographic or other authentication/verification/identifications may be permitted as per applicable law, for all accounts, facilities, services and relationships of/through the Bank, existing and future. (ii) collecting, sharing, storing, preserving the Aadhaar related Information, maintaining records and using the Aadhaar related Information and authentication/verification/identification records: (a) for the informed purposes above, (b) as well as for regulatory and legal reporting and filings and/or (c) where required under applicable law; (iii) enabling my account for Aadhaar enabled Payment Services (AEPS); (iv) producing records and logs of the consent, Aadhaar related Information or of authentication, identification, verification, etc. for evidentiary purposes including before a court of law, any authority or in arbitration.

25. I understand that the Aadhaar number and core biometrics will not be stored/shared except as per law and for CIDR submission. I have downloaded the e-Aadhaar myself using the OTP received on my Aadhaar registered mobile number. I will not hold the Bank or its officials responsible in the event this document is not found to be in order or in case of any incorrect information provided by me.

26. (Applicable only for customers who have not submitted the proof of correspondence address as required) I have made an online application for HDFC Bank Credit Card and hereby declare that I do not have valid address proof for my correspondence address as mentioned in the application. I, therefore request the Bank to consider and accept the address mentioned in the Credit Card application as my correspondence address. I also confirm that a valid address proof of my permanent address has been/will be submitted out of either of the permissible and valid documents such as passport, election id/ voter id card, permanent driving license, Aadhaar card / letter issued by Government of India and/or NREGA card.

27. I have read and understood the terms and conditions governing the Credit Card and those relating to various services including but not limited to: (a) ATMs (b) Phone Banking (c) Mobile Banking (d) Net Banking (e) Bill Pay Facility (f) Insta alert (g) Email statements.

28. I understand that the Bank reserves the right to exercise its sole discretion to honour transactions above the assigned credit limit (Credit limit up to which a customer can revolve) on a case-to-case basis internal guidelines and discretion of the Bank.

29. I understand that I will be liable for all losses in case of misuse of the Credit Card by someone who has obtained the PIN or the Credit Card with my consent or an Additional Card member. I understand that I am under an obligation to take all appropriate steps to keep the card safe and not to record the PIN or code, in any form that would be intelligible or otherwise accessible to any third party if access is gained to such a record, either honestly or dishonestly.

30. I hereby agree that the Bank shall exercise reasonable care for issuance of Credit Card PINs / Codes and such PIN / Codes shall be delivered to my mobile number or address registered with the Bank.

31. (Applicable in case of Business Credit Cards) I hereby declare to use my business credit card only for business purpose and not for my personal use.

32. I understand that I can avail credit card benefits on various brands by transacting on the SmartBuy platform through my HDFC Bank Credit Card. Offers on these brands on SmartBuy are subject to change.

B] DECLARATION

"I/We declare to the Bank as follows: (a) at the date hereof (1): where the Borrower is an individual /proprietor(s)) none of the Directors of the Bank or their Relatives is his / her business partner or guarantor or relative; (2): where the Borrower is a partnership firm or limited liability partnership none of the Directors of the Bank or their Relatives is interested in the firm as partner, manager, employee or guarantor; (3): where the Borrower is a company or a corporation none of the Directors of the Bank or their Relatives, is interested in the company/corporation or in its Subsidiary or holding Company as director, managing agent, manager, employee, major shareholder or guarantor or holder of Substantial Interest or is in control; (b) at the date hereof (1): where the Borrower is an individual/(proprietor(s)) he / she is not a Director of Other Banks* or Relative of a Director of the Bank or of Director of Other Banks*; (2): where the Borrower is a partnership firm or limited liability partnership) none of the Directors of Other Banks* or Relative of a Director of Other Banks* is interested in the firm as partner or guarantor; and (3): where the Borrower is a company or a corporation, none of the Directors of Other Banks* or Relative of a Director of Other Banks*, is interested in the company / corporation or its subsidiary or holding company as director or guarantor or major shareholder or holder of Substantial Interest or is in control; * The term Director of Other Banks includes directors of Scheduled Co-operative Banks, directors of subsidiaries/trustees of mutual funds/venture capital funds. (c) at the date hereof: (1); where the Borrower is an individual/(proprietor(s)) the Borrower is not a Relative of any senior officer of the Bank; (2): where the Borrower is a partnership or limited liability partnership or HUF firm, none of its partners or none of the members of the HUF is a Relative of any senior officer of the Bank and none of the senior officers of the Bank or their Relatives is interested in the firm or HUF as partner or member or guarantor or holder of Substantial Interest; and (3): where the Borrower is a company or a corporation, none of its directors, is a Relative of any senior officer of the Bank and none of the senior officers of the Bank or their Relatives, is interested in the company/corporation as director or guarantor or holder of Substantial Interest; In case where the above negative confirmations are not true, then I/We shall provide a written declaration with details of such relationship to the Bank. If the details of such declaration change during the term of the relationship, then I/We shall promptly provide a written declaration to the Bank of any such change. Bank reserves the right to cancel the card issued to the cardmember, in case, the above declaration is found to be untrue and demand payment of all outstanding on the Card Account immediately. The terms Director of the Bank, Director of Other Bank, senior officer, Relatives, substantial interest, major shareholder, control shall have the meaning as defined in Companies Act, 2013, Banking Regulation Act, 1949, Reserve Bank of India " and/or any of its amendments/modifications, as applicable and as specified by Reserve Bank of India. “Politically Exposed Person (PEP) declaration: I hereby confirm and declare that I am not a Politically Exposed Person(s) (as per the definition of the Reserve Bank of India Master Direction - Know Your Customer (KYC) Direction, 2016) or a relative of a Politically Exposed Person. I hereby agree that the Bank reserves the right to cancel the credit card issued to me, in case, the aforesaid declaration is found to be untrue and demand payment of all outstanding on the credit card immediately.

In the event of any change in this declaration and/or if I subsequently become a Politically Exposed Person(s) or a relative of a Politically Exposed Person, after the issuance of the credit card to me, I hereby agree to promptly inform the Bank regarding the same and forthwith submit the relevant Politically Exposed Person (PEP) declaration form at an HDFC Bank branch.”

C] FLOATER CARD TERMS AND CONDITIONS

In the event, I already have one or more HDFC Bank Retail Credit Card (“Existing Card(s)”), and I am issued a new Credit Card with a credit limit that is combined/shared with my Existing Card(s) (“Floater Card”), my Existing Card(s) and the Floater Card shall be subject to the following terms: (i) All my Existing Card(s) and the Floater Card shall be assigned a combined/shared credit limit which shall be less than or equal to the credit limit of my Existing Card(s) (“Combined Credit Limit”); (ii) The Floater Card that is issued to me will be assigned the Combined Credit Limit, within 7 (Seven) working days of issuance of the Floater Card; and (iii) Upon the assignment of the Combined Credit Limit to all my Existing Card(s) as well as my Floater Card, I can use any of the said cards such that the combined usage on all the said cards should not exceed the Combined Credit Limit.

D] CROSS SELL
I expressly agree to the Bank and/or its affiliates for using the Information and for cross-selling to me their various products and services from time to time.

E] GENERAL CONSENT TERMS
1. I hereby submit that I am a major, presently within the territory of India and that I have read and I accept the Privacy Policy of the Bank.

2. I hereby expressly consent to and authorise the Bank (whether acting by itself or through any of its service providers and/or agents, whether in automated manner or otherwise), to do and undertake any of the following, in relation to: (i) my Credit Card application details including Credit Card type/variant, (ii) personal data and sensitive information personal data or, information, (iii) information and data relating to my service requests in relation to the Credit Card such as Credit Card blocking requests and status thereto, (iv) details of queries/complaints raised by me,(v) reward points earned on the Credit Card, (vi) Credit Card usage, (vii) Credit Card repayment related details, (viii) amounts due on Credit Card, (ix) Credit Card utilisation information, (x) defaults in repayment of the Credit Card,(xi) transaction data in relation to the Credit Card, (xii) purchase information using the Credit Card, (xiii) details in relation to my spends using the Credit Card, (xiv) add on card details, (xv) location of usage of the Credit Card, (xvi) details of contactless usage of the Credit Card, (xvii) cross sell related data, (xviii) Credit Card benefits, (xix) Credit Card limit details, (xx) Credit Card activation and closure data, (xxi) offers on my Credit Card, (xxii) details of utilisation of benefits available on my Credit Card, (xxiii) utilisation of reward points on the Credit Card, (xxiv) details of decline in the Credit Card transactions and reasons thereof, (xxv) aggregate data of the Credit Card, (xxvi) data in relation to spend behaviour, (xxvii) portfolio data in relation to the Credit Card/ customer behaviour data, (xxviii) details of active/inactive Credit Card, (xxix) active users on the Credit Card, (xxx) usage on merchant categories, (xxxi) fee related data, (xxxii) lead management and milestone benefits in relation to my Credit Card, and (xxxiii) information, papers and data relating to know your customer (KYC), credit information, (xxxiv) any other information whether about me or not as may be deemed relevant by the Bank for its purposes (collectively, (i) to (xxxiv), “Information”): a. to collect the Information from me and other physical or online sources such as my Credit Card application, as well as accessing the same from credit information companies, information utilities, websites, data bases, and online platforms (whether public or not); b. to get the authenticity, correctness, adequacy, etc. of the Information verified from any sources and persons including from online databases; and to act for and on my behalf for such accessing, collecting or verifying of the Information; c. to process Information including by way of storing, structuring, organising, reproducing, copying, using, profiling, etc. as may be deemed fit by the Bank; d. to store the Information for such period as may be required for contract, by law or for the Bank’s evidentiary claims purposes, whichever is longer; e. to share and disclose the Information with the Bank’s service providers, consultants, credit information companies, information utilities, other banks and financial institutions, affiliates, subsidiaries, regulators, investigating agencies, judicial, quasi-judicial, and statutory authorities, or to other persons as may be necessary in connection with the contractual or legal requirements or in the legitimate interests of the Bank or as per this consent; and f. any of the aforesaid may be exercised by the Bank for the purposes mentioned above, for the purposes of processing my application for the Credit Card, obtaining credit scores, credit information, credit evaluation report, credit appraisal, fraud detection, anti-money laundering obligations, for entering into contract, for marketing, for developing credit scoring models and business strategies, for monitoring, for evaluating and improving the quality of services and products, for other legitimate purposes or for any purposes.

3. I expressly agree to and subject me to the automated processing, automated profiling, and the automated decision making by or on behalf of the Bank.

4. I expressly provide my consent to the Bank and its representatives to call me on any contact information submitted to the Bank even in case my Credit Card application is dropped or incomplete.

5. I expressly provide my consent to the Bank and its representatives to use my contact information submitted to the Bank for communicating with me through SMS, WhatsApp messages or any other medium to provide information regarding my application/Credit Card, other information or services and/or marketing offers. By submitting, I confirm that I am an Indian above 18 years of age, residing in India and have read & agreed to HDFC Bank Privacy Policy and T&C. I agree to receive calls, SMS, WhatsApp messages from HDFC Bank for personalised offerings regarding new products.

6. For 6E Rewards HDFC Bank Credit Card customers: I provide my express consent to HDFC Bank Limited ("Bank") and Interglobe Aviation Pvt Ltd for collecting, disclosing, sharing, displaying and transferring my personal, demographic information for my credit card application.

7. For 6E Rewards/ 6E Rewards XL HDFC Bank Credit Card Customers: I confirm that I have read and understood the features, fees, terms and conditions set forth here and the terms and conditions set forth here and the terms and conditions governing the 6E Rewards Program set forth in 6E Rewards Program Terms and Conditions and accept all such terms. I authorize 6E Rewards and its representatives to Call, SMS, WhatsApp messages or any other medium to provide information regarding my application/Credit Card, other information or services and/or marketing offers. By submitting, I confirm that I am an Indian above 18 years of age, residing in India and have read & agreed to HDFC Bank Privacy Policy and T&C. I agree to receive calls, SMS, WhatsApp messages from HDFC Bank for personalised offerings regarding new products

8. For Times HDFC Bank Credit Card customers: I provide my express consent to HDFC Bank Limited ("Bank") and Times Internet Ltd for collecting, disclosing, sharing, displaying and transferring my personal, demographic information for my credit card application.

9. I/We provide my/our express consent to the Bank including but not limited to its representatives and service providers to use my/our contact information submitted to the Bank for communicating with me/us through SMS, E-Mail, WhatsApp messages or any other medium to provide information regarding my application for credit card/credit card/monthly credit card statements, other information or services and/or marketing offers. I/we herein give my/our express consent to share the monthly credit card statements on my/our registered email address or through SMS or WhatsApp or Net-banking or Mobile banking. I/we undertake to promptly inform the Bank about any change or updation in the mobile number or registered email address as per Bank's records.

F] ADDITIONAL TERMS AND CONDITIONS AND CONSENT APPLICABLE TO THE CO-BRANDED CREDIT CARDS

1. I hereby expressly consent to and authorise the Bank (whether acting by itself or through any of its service providers and/or agents, whether in automated manner or otherwise), to do and undertake any of the following, in relation to: (i) my Co-branded Credit Card application details including type/variant of the Co-branded Credit Card, (ii) personal data and sensitive information personal data or, information, (iii) information and data relating to my service requests in relation to the Co-branded Credit Card such as Co-branded Credit Card blocking requests and status thereto, (iv) details of queries/complaints raised by me, (v) reward points earned on the Co-branded Credit Card, (vi) Co-branded Credit Card usage, (vii) Co-branded Credit Card repayment related details, (viii) amounts due on Co-branded Credit Card, (ix) Co-branded Credit Card utilisation information, (x) defaults in repayment of the Co-branded Credit Card, (xi) transaction data in relation to the Co-branded Credit Card, (xii) purchase information using the Co-branded Credit Card, (xiii) details in relation to my spends using the Co-branded Credit Card, (xiv) add on card details, (xv) location of usage of the Co-branded Credit Card, (xvi) details of contactless usage of the Co-branded Credit Card, (xvii) cross sell related data, (xviii) Co-branded Credit Card benefits, (xix) Co-branded Credit Card limit details, (xx) Co-branded Credit Card activation and closure data, (xxi) offers on my Co-branded Credit Card, (xxii) details of utilisation of benefits available on my Co-branded Credit Card, (xxiii) utilisation of reward points on the Co-branded Credit Card, (xxiv) details of decline in the Co-branded Credit Card transactions and reasons thereof, (xxv) aggregate data of the Co-branded Credit Card, (xxvi) data in relation to spend behaviour, (xxvii) portfolio data in relation to the Co-branded Credit Card/ / customer behaviour data, (xxviii) details of active/inactive Credit Card, (xxix) active users on the Credit Card, (xxx) usage on merchant categories, (xxxi) fee related data, (xxxii) lead management and milestone benefits in relation to my Co-branded Credit Card, and (xxxiii) information, papers and data relating to know your customer (KYC), credit information, (xxxiv) any other information whether about me or not as may be deemed relevant by the Bank for its purposes (collectively, (i) to (xxxiv), “Information”): a. to collect the Information from me and other physical or online sources such as my Co-branded Credit Card application, as well as accessing the same from credit information companies, information utilities, websites, data bases, and online platforms (whether public or not); b. to get the authenticity, correctness, adequacy, etc. of the Information verified from any sources and persons including from online data bases; and to act for and on my behalf for such accessing, collecting or verifying of the Information; c. to process Information including by way of storing, structuring, organising, reproducing, copying, using, profiling, etc. as may be deemed fit by the Bank; d. to store the Information for such period as may be required for contract, by law or for the Bank’s evidentiary claims purposes, whichever is longer;
e. to share and disclose the Information with the Bank’s service providers, consultants, credit information companies, information utilities, other banks and financial institutions, affiliates, subsidiaries, regulators, investigating agencies, judicial, quasi-judicial, and statutory authorities, or to other persons as may be necessary in connection with the contractual or legal requirements or in the legitimate interests of the Bank or as per this consent; f. any of the aforesaid may be exercised by the Bank for the purposes mentioned above, for the purposes of processing my application for the Co-branded Credit Card, obtaining credit scores, credit information, credit evaluation report, credit appraisal, fraud detection, anti-money laundering obligations, for entering into contract, for marketing, for developing credit scoring models and business strategies, for monitoring, for evaluating and improving the quality of services and products, for other legitimate purposes or for any purposes; g. to collect, subject to applicable law and RBI circulars and guidelines, the applicable relevant Information from the Co-branded Entities and/or the Rewards Program Entities and from any of their respective affiliates and/or group entities and/or the entities offering products/services on the online platform/ app of the Co-branded Entities (collectively “Platform”); h. to share, subject to applicable law and RBI circulars and guidelines, the applicable relevant Information with the Co-branded Entities and/or the Rewards Program Entities and with any of their respective affiliates and/or group entities and/or the entities offering products/services on the Platform; and i. to share and disclose, subject to applicable law and RBI circulars and guidelines, the Information collected from the Co-branded Entities and/or the Rewards Program Entities and any of their respective affiliates and/or group entities and/or the entities offering products/ services on the Platform with the Bank’s service providers, credit information companies, information utilities, regulators, investigating agencies, judicial, quasi-judicial and statutory authorities, or to other persons as may be necessary in connection with the contractual or legal requirements or in the legitimate interests of the Bank or as per this consent.

2. I hereby agree that any Co-branded Credit Card offer shown to me on the Platform shall be an in-principle offer subject to the Bank’s approval and verification and the Bank shall not be bound by the said offer.

3. I hereby consent to the Bank and the Co-branded Entity to share information related to the said rewards/ loyalty program with me at regular intervals. I hereby further agree that the rewards/ loyalty program and points shall be governed by the terms and conditions of the rewards/ loyalty program as may be notified from to time.

4. I hereby agree and understand that the rewards/ loyalty program can be accessed through the platform/ application of the Co-Branded Entity. I hereby further agree and understand that the reward points can be redeemed by me through the platform/ application of the Co-branded Entity. In this regard, the Bank will share my details with the Co-Branded Entity for managing the rewards/ loyalty program, as per the consent provided by me herein, and the Co-Branded Entity may approach me for downloading its platform/ application to facilitate my redemption of the reward points. Further, I hereby understand that I may download the application/ platform at my sole discretion, and the same is not mandatory and the Bank is not referring the said platform/ application to me in any manner.

5. I authorize HDFC Bank to transfer my accrued reward points periodically to my loyalty program membership number (as may be applicable for the concerned Co-Branded Credit Card) as provided in the Credit Card application or as may be created/generated by the Co-Brand Entity, in case I have applied for any HDFC Bank Co-brand Credit Card.

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G] DIGITAL ACQUISITION VOUCHER TERMS & CONDITIONS

1. The digital acquisition voucher (“Digital Voucher”) shall be available only at the discretion of the Bank. Further, such Digital Voucher, shall be available only if: (i) the application for credit card to the Bank is initiated and completed end-to-end by the applicant/customer himself without any assistance of any of the Bank staff or Bank representative or selling or marketing agent of the Bank (whether in person or telephonically or through any other assistance), and thereafter the credit card is issued by the Bank; Accordingly this voucher would be issued towards go-green initiatives and (ii) at least one purchase transaction of minimum of Rs. 500/- (Rupees Five Hundred) (single and not in tranches) is carried out by the card holder on the /using the credit card, within 14 days of the date of the card issuance by the Bank; and (iii) the applicant/customer applies for the credit card from HDFC Bank directly from the HDFC Bank Website or through communication sent by HDFC Bank through Bank owned channels. For clarity, this Digital Voucher shall not available if the credit card has been applied through a DSA or a partner website or any non-HDFC Bank-owned channel/platform.

2. The Digital Voucher where made available by the Bank at its discretion as above, may be sent by the Bank to the customer/applicant who is issued the credit card by the Bank, in the form of a digital or alpha-digital code, within a period of 90 days, by way of SMS or email to the registered contacts of the customer/card holder. Along with such code, for the actual usage of the Digital Voucher, the Bank may at its discretion, prescribe further authentication factors or require other authentication information/information, from time to time. The Digital Voucher can be used only for the online purchases with/from such merchants where the Bank has tied up and permitted such use and for such products or services which the Bank permits. Such merchants and/or products/services, may be changed by the Bank from time to time in its sole discretion , without any notice to/or consent from the card holder, and whether the card holder has used the Digital Voucher partly or not by such time of change.

3. In case the Bank suspects any misuse or security breach, the Bank may in its discretion, block or suspend usage of the Digital Voucher.

4. For issuance and/or management of the Digital Voucher, the Bank may engage any service provider, which for the time being is Vouchagram India Private Limited (GYftr) (and may be changed by the Bank at any time), for which the demographic details of the card holder including the customer name, customer contact number, customer email address, shall be required to be shared by the Bank to such service provider. By accepting this document/these terms and conditions, the card holder is authorising the Bank to do so and also authorising such service providers of the Bank to process such data/information for this purpose, including to contact the card holder.

5. The Bank may change the amount of the Digital Voucher, its conversion ratio to Rupees, conditionalities on its use, consumption, merchants or service providers where it can be used, add, alter, modify, change or vary all or any of the terms and conditions or to replace wholly or in part, the above benefits/entitlements, whether similar to the above or not, or to withdraw it altogether, from time to time, in its sole discretion, without any notice to/or consent from the card holder, and whether the card holder has used the Digital Voucher partly or not by such time of change.y
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6. Existing HDFC Bank Credit Cardholders are not eligible for Digital Vouchers.

G. Credit Card Referral Offer Terms & Conditions: 

1. The offer is only valid on completing the application end-to-end digitally. Accordingly, this voucher would be issued (post issuance and activation of the credit card) towards Go-Green Initiatives.

2. The referrer and referee will be incentivised with a voucher worth Rs. 250 each upon successful issuance and activation of credit card issued to the referee. To activate the credit card the referee must complete 1 transaction using the credit card applied within 14 days from credit card issuance date.

3. The referrer and referee agree to receive calls, SMS, email & WhatsApp messages from HDFC Bank for personalized offerings regarding new products and services.

4. A referee needs to submit a credit card application within 30 days from referral date, else the referrer and referee will not be incentivised if the referee submits the credit card application after 30 days from referral date.

5. Voucher cannot be converted into cash.

6. The gift voucher will be sent to the referrer and referee within 90 days of the credit card activation month.

7. This offer is applicable for the referrer and referee only after submission of referee name and mobile number by the referrer on the HDFC Bank referral portal (managed by Vouchagram India Private Limited) communicated to the referrer from HDFC Bank communication mediums. Referrer and referee will only be incentivised when the referee’s credit card application initiation date is after the referrer has inputted the referee’s name and mobile number on the referral portal.

8. Referrers and referees will be incentivised only if the referees mobile number mentioned in the credit card application and the referral portal match.

9. The referrers and referees will be incentivised only if the referrers communicate the HDFC Bank credit card application link shared with them through the personalised messages generated by HDFC Bank referral portal and the referees apply through the same link received.

10. Referrers and referees will be incentivised only if the referrers mobile number mentioned on the credit card referral portal matches with the HDFC Bank credit card registered mobile number.

11. Vouchers issued to both referrers and referees will have a validity of 60 days from issuance date. The validity of the voucher will not be extended once the voucher expires.

12. The cost of sending communication from the referrer to the referee will be borne by the referrer.

13. This offer is not valid if the credit card has been applied through a DSA, Co-brand partner or a partner website/application. 

14. This offer is not valid if the credit card has been applied through a physical application.

15. Referrer & referee will not be incentivised if the referee is an existing HDFC Bank credit card holder.

16. Referrers need to have an existing HDFC Bank Credit Card and should only login with the bank registered mobile number to be eligible to participate in this programme.

17. The gift voucher will be issued by our partner Gyftr (Vouchagram India Private Limited), for which customer name and customer contact number will be shared with the voucher partner.  

18. Gift voucher is time bound and subject to change. HDFC Bank reserves the right at any time, without prior notice to add, alter, modify, change or vary all or any of these terms and conditions or to replace wholly or in part, the above offer by another offer, whether similar to above offer or not, or to withdraw it altogether.

19. HDFC Bank shall not be held liable in any manner whatsoever for any loss/ damage/ claim which may arise out of use or otherwise of vouchers availed by both the Referrers and Referees under the said Referral Offer

20. Bearer of the Voucher code shall be deemed to have read, understood and accepted these terms and conditions.

21. Grievances and/or queries (if any) in respect of the Vouchers and/or their redemption shall be raised to customerservices.cards@hdfcbank.com.

22. All disputes if any, arising out of or in connection with or because of above vouchers or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent courts / tribunals in Mumbai only, irrespective of whether courts / tribunals in other areas have concurrent or similar jurisdiction. The arbitration proceedings shall be conducted in English. The award passed in the arbitration proceedings shall be final and binding on both the parties.

23. Referrers who are HDFC Bank employees will not be eligible for the referral voucher.

Click here for FASTag  Terms & Conditions

These terms and conditions (hereinafter referred to as the “Terms and Conditions”) apply to and regulate the provision of radio frequency identification-enabled tags (“FASTag”) issued by HDFC Bank Limited (“HDFC Bank”). These Terms and Conditions shall be in addition to and not in derogation to any other terms as stipulated by HDFC Bank, from time to time.

1. DEFINITIONS

   
   In these Terms and Conditions, unless there is anything repugnant to the subject or context thereof, the following words/ expressions shall have the meaning as stated herein under:

   “Application” or “Tag Application” shall mean the application form signed by a Tag Member to avail of a Tag from HDFC Bank, including all annexures and mandates thereto;

   “Concessionaires” shall mean the special purpose vehicles that have been granted a concession by the National Highways Authority of India to construct, maintain and collect toll at the National Highways, and who have agreed to receive payment in respect of such toll through the Tags;

   “Customer Care” shall mean the toll-free telephonic customer service facility provided by HDFC Bank to Tag Members for any Tag related queries;

   “ETC Facility” shall mean the electronic facility whereby toll payments can be effected by any Tag Member at any participating Toll Plaza by means of the Tags issued by HDFC Bank;

   “HDFC Bank Website” refers to www.HDFCbank.com, which is owned, operated and maintained by HDFC Bank;

   “National Highways” shall mean all the national highways where toll payments can be effected by means of the ETC Facility;

   “Tag” refers to FASTag issued by HDFC Bank, which shall function as a semi-closed prepaid payment instrument, the balance whereof shall be the amounts loaded/ re-loaded onto such instrument by the Tag Member from time to time;

   “Tag Balance” shall mean the balance loaded/ re-loaded onto the Tag by the Tag Member, from time to time;

   “Tag Member/s” shall mean persons, details whereof are set out in the Tag Application, to whom Tags have been issued by HDFC Bank with respect to the vehicles owned by such persons, subject to these Terms and Conditions;

   “Toll Plazas” shall mean such the plazas located on the National Highways for payment of tolls for the usage of the National Highways;

   “Transaction” shall mean any transaction/s for the payment of toll charges, payment of parking fees, fuel charges and any other transaction/s carried out using the Tag, as contemplated in these Terms and Conditions.
   
   

2. INTERPRETATION

   In these Terms and Conditions, unless the context otherwise requires:

   (a) the singular includes the plural, and vice versa and words of any gender are deemed to include the other genders;

   (b) the terms “hereof”, “herein”, “hereby”, “hereto” and derivatives or similar words refer to these Terms and Conditions;

   (c) references to the words “include” or “including” shall be construed without limitation;

   (d) reference to any paragraph or schedule shall mean a paragraph of, or a schedule to these Terms and Conditions;

   (e) reference to any legislation, law, circular or regulation or to any provision thereof shall include references to any such legislation, law, circular or regulation, as it may, after the date hereof, from time to time, be amended, supplemented or re-enacted, and any reference to a statutory provision shall include any subordinate legislation made, from time to time, under that provision;

   (f) the term “person” includes an individual, a partnership firm, a limited liability partnership, a company (as defined in section 2(20) of the Companies Act, 2013), a body corporate (as defined in section 2(11) of the Companies Act, 2013), a co-operative society, a trust, an association of persons whether incorporated or not and any other entity;

   (g) the Tag Application shall be deemed to form an integral part of these Terms and Conditions;

   (h) heading and bold typeface are used only for convenience and shall not affect the interpretation of these Terms and Conditions.
   
   

3. ISSUANCE AND ACTIVATION OF THE TAG
   
   3.1  HDFC Bank may, at its sole discretion, issue a Tag to any Tag Member on a request being made by such Tag Member by submitting a duly filled in Tag Application and providing all such information and documentation required by HDFC Bank including, without limitation, any document that HDFC Bank may require to conduct its ‘know-your-customer’ related checks.
   
   3.2  At the time of submitting the Tag Application for availing a Tag. The Tag Member shall be required to pay one time issuance fee. The fee amount shall be mentioned on www.hdfcbank.com.
   
   

   3.3  The Tag Member acknowledges that the acceptance of any Tag Application and issuance of a Tag shall be the sole prerogative of HDFC Bank and nothing contained in these Terms and Conditions should be construed as obliging HDFC Bank to issue the Tag to any Tag Member.

   
   3.4  The Tag issued by HDFC Bank to the Tag Member shall be mandatorily affixed by the agency/dealer of HDFC Bank or the Tag Member himself/herself on the vehicle owned by the Tag Member which carries the license plate number specified by the Tag Member in the Tag Application.

   3.5 Until activation of a Tag by HDFC Bank in accordance with Paragraph The Tag shall be activated subject to: (i) the approval of the Tag Application by HDFC Bank; and (ii) loading of the relevant Tag by the Tag Member, for a minimum amount specified by HDFC Bank at the time of activation of the Tag (which amount required to be loaded on the Tag shall be exclusive of and over and above the one-time fee and the security deposit mentioned above). below and unless wallet is created for every Tag issued to the Tag Member, neither can the Tag Member reload such Tag nor can the Tag Member utilise the amounts loaded on to the Tag.

   
   

4. ACTIVATION, LOADING AND RELOADING OF THE TAG

   
   4.1 The Tag Member hereby agrees and acknowledges that the Tags, as on the date of their issuance, shall have no assigned value and shall be in a de-activated form until the time wallet is created for every Tag issued to the Tag Member.

   
   4.2  A user-ID/FASTag customer ID will be generated by HDFC Bank and provided to every Tag Member at the time of issuance of the Tag to enable such Tag Member to load/ reload the Tag on the HDFC Bank Website. The Tag Member shall keep all such user IDs and passwords confidential and well protected and should not reveal the same to any unauthorized person, including to any employees and representatives of HDFC Bank. HDFC Bank shall in no way be held responsible, if the Tag Member incurs any loss as a result of the user-IDs and/ or passwords being disclosed by the Tag Member to any third parties.

   
   4.3 The process for loading/ reloading value onto such Tags shall be as follows:

   
   (a) The Tag Member may load/ reload the Tag at any customer touch points set-up by HDFC Bank (“Kiosks”), subject to verification of their identity and any other mandatory requirements as may be prescribed by HDFC Bank, from time to time; and/ or

   
   

   (b) By using the payment gateway available to the Tag Members after they log in to the HDFC Bank Website using the user-ID and password provided to them by HDFC Bank at the time of issuance of the Tag.

   
   

   (c) By using other digital modes to recharge FASTag as mentioned on HDFC Bank Website.

   
   4.4 Notwithstanding anything to the contrary set out hereinabove, the following rules will apply in respect of the loading/ reloading of Tags in terms Paragraph above:

   
   

   (a) The loading/ reloading of any Tag shall be permitted such that the Tag Balance does not exceed Rs. 10,000/- (Rupees Ten Thousand only) for Minimum KYC wallet and Rs. 2,00,000/- (Rupees Two Lakhs only) for Full KYC wallet or such other amount as HDFC Bank may stipulate from time to time and in accordance with the latest RBI guidelines and directions.

   (b) Cash loading is limited to Rs. 50,000/- (Rupees Fifty Thousand Only) per month and Rs. 5000/- (Rupees Five Thousand Only) per reload, subject to overall limit of Rs. 2,00,000/- for FULL KYC wallet and Rs. 10,000/- for Minimum KYC wallet. The limit on loading of PPIs via electronic / online means is subject to overall limit of the wallet.

   
   

   4.5 The Tag shall be activated subject to: (i) the approval of the Tag Application by HDFC Bank; and (ii) loading of the relevant Tag by the Tag Member, for a minimum amount specified by HDFC Bank at the time of activation of the Tag (which amount required to be loaded on the Tag shall be exclusive of and over and above the one-time fee and the security deposit mentioned above).
   
   

5. USAGE OF THE TAG BY THE TAG MEMBER

   
   

   5.1  The Tag Member acknowledges and agrees that:

   
   (a) the Tag is valid only in India and only with respect to payments required to be made in INR towards Toll Plazas, Parking Lots, Fuel Stations and Other Transit used cases where payment via FASTag is enabled by HDFC Bank or regulatory authorities in terms of Paragraph below;

   
   

   (b) the Tag is strictly not transferable and shall only be used with respect to the abovementioned vehicle owned by the Tag Member, on which the Tag has been affixed by an agency/dealer of HDFC Bank or the Tag Member himself/herself

   
   

   (c) the Tag Member shall be able to use the Tag only to the extent of the Tag Balance as available from the threshold FASTag wallet balance;

   
   

   (d) the Tag is the property of HDFC Bank and is non-transferable; and

   
   

   (e) no interest shall be payable by HDFC Bank on the amount available/ loaded on the Tag at any point of time.

   
   

   5.2  The usage of the Tag shall be governed by these Terms and Conditions and all policies, guidelines and instructions provided by HDFC Bank, from time to time, in relation to the Tags.

   
   

   5.3 The Tag may be used by the Tag Member for the purpose of making toll payments at participating Toll Plazas on the National Highways at the electronic toll collection lanes provided at such participating Toll Plazas. The list of the participating Toll Plazas will be uploaded on the HDFC Bank Website and will be updated from time to time, in case of any change in the same.

   
   

   5.4 Each time a Tag Member uses the Tag at a participating Toll Plazas, Parking Lots, Fuel Stations and other Transit used cases as enabled by HDFC Bank or regulatory authorities, such Tag Member authorizes HDFC Bank to reduce the balance available in respect of the Tag. The Tag Member hereby provides its consent to HDFC Bank for the purpose of making debit adjustments to the relevant Tag Balance in case of inter alia any incorrect calculation of toll amounts or any mismatch having occurred in terms of the kind of vehicle on which the Tag had been mounted.

   
   5.5 The Tag Member is not allowed to exceed the available Tag Balance, whether through an individual Transaction or a series of Transactions. The Tag Member acknowledges and agrees that if it attempts to drive through any electronic toll collection lane at any participating Toll Plaza where the toll amount to be paid is in excess of the Tag Balance, it will not be able to do so.

   
   5.6 In any event, if a Transaction amount exceeds the Tag Balance which leads to a negative Tag Balance, the Tag Member shall remain fully liable to HDFC Bank for the amount of such negative Tag Balance and shall make payment of the same to HDFC Bank on demand.

   
   

   5.7 HDFC Bank reserves unto itself the absolute discretion to decline to honour any Transaction requests on the Tag, without having to assign any reason thereof.

   
   5.8 Any Transaction undertaken at a participating Toll Plazas, Parking Lots, Fuel Stations and other Transit used cases as enabled by HDFC Bank or regulatory authorities, shall be conclusive proof that the charge recorded for such Transaction was actually incurred by the Tag Member using the Tag, except in cases where the Tag had been lost, stolen or fraudulently misused, in which case, the burden of proving that the Transaction was not affected by the Tag Member shall be on such Tag Member.

   
   

   5.9 The Tag Member agrees that the Tag may be added to a black list/ low balance list or such other list as may be instructed by regulatory authorities from time to time and maintained by HDFC Bank in the following cases:

   
   (a) If any governmental authority (including, without limitation, the National Payments Corporation of India) requests HDFC Bank to add the relevant Tag in a blacklist for any reason whatsoever, or in case HDFC Bank believes there is any cause to do so, e.g. in case of any irregularity discovered or suspected in respect of any Tag or its usage; and

   (b) If the Tag Balance falls below a threshold limit stipulated by HDFC Bank, from time to time, the relevant Tag shall be added to a low-balance list (until the Tag Member reloads the Tag Balance at least to the extent of the aforesaid minimum threshold), and a notification shall be sent to the Tag Member regarding the same.
   
   5.10 In case the Tag of any Tag Member has been added to a black list/ low balance list in terms of Paragraph  above, the Tag shall not be utilisable for payment of toll and accordingly the Tag Member’s vehicle carrying such Tag shall not be allowed to drive through any electronic toll collection lane at any participating Toll Plaza. If for any reason, due to a system failure or otherwise such Tag Member’s vehicle does drive through an electronic toll collection lane at any participating Toll Plaza despite the relevant Tag being on the black list/ low balance list, HDFC Bank shall be entitled to require the Tag Member to pay such fine/ penalty as it may deem fit. The Tag Member also agrees that in case its Tag has been added to a black list/ low balance list, HDFC Bank shall not, in any way be liable for any Transaction effected by means of such Tag.
   
   

6. LOST OR STOLEN TAGS

   
   6.1 If the Tag is lost or stolen, the Tag Member must immediately report such loss/theft over the telephone to the Customer Care mentioned on website www.hdfcbank.com/fastag.com and/ or lodge a query. On receipt of any such intimation the Bank shall, during working hours on a working day, upon adequate verification of the Tag Member, hotlist/cancel/suspend/block the Tag and terminate all facilities in relation thereto, and shall not be liable for any inconvenience caused to the Tag Member in this regard. The Tag Member will be liable for all charges incurred on the Tag until the Tag is reported lost/ stolen. Further, in the event HDFC Bank determines the aforementioned steps are not complied with, the financial liability with regard to the lost or stolen Tag would rest entirely with the Tag Member. In case of any dispute relating to the time of reporting Transaction/s made on the Tag or any other matter in relation to the any lost/ stolen Tag, the determination of HDFC Bank shall be conclusive.

   
   

   6.2 The Tag Member hereby declares that if a Tag is reported as lost or stolen and if found subsequently, it shall be the responsibility of the Tag Member to return such Tag to HDFC Bank. Similarly, in case a Tag is damaged, it shall be the responsibility of the Tag Member to return the damaged Tag to HDFC Bank to enable issuance of a fresh Tag, as per HDFC Bank’s sole discretion.
   
   

7. SURRENDER/ REPLACEMENT OF TAGS

   
   7.1 The Tag Member agrees and acknowledges that HDFC Bank (whether through any authorised person or otherwise) shall be entitled to demand the surrender of any Tag at any time, including at a time prior to the expiry of the validity period of such Tag. The Tag Member shall, forthwith upon such demand being made, surrender the relevant Tag in accordance with the instructions provided by HDFC Bank in this regard. The Tag Member shall be responsible for returning the Tags to HDFC Bank for cancellation in the event the ETC Facility is no longer required by the Tag Member or if the provision of the ETC Facility is withdrawn by HDFC Bank for any reason whatsoever, in its sole discretion.

   
   7.2 In the event of death of any Tag Member, HDFC Bank shall cancel the Tag upon being informed of the same.
   
   

8. VALIDITY AND EXPIRATION

   
   8.1 Subject to Paragraph  below, a Tag shall be valid up to a period of 5 (Five) years from the date of issuance of the Tag.

   
   8.2 As per the RBI guidelines on prepaid instruments, if KYC status of the FASTag wallet is not updated to FULL KYC within 24 months from the date of issuance, then the minimum KYC wallet would be marked as Credit Freeze and would be deactivated. Notwithstanding anything to the contrary contained herein, HDFC Bank shall be entitled to, at any time, with or without notice to the Tag Member, at its absolute discretion, terminate/ de-activate any Tag.

   
   8.3 On termination of any Tag, the negative balance in respect of the Tag (if any) and any other amounts due in respect of the Tag shall become forthwith due and payable by the Tag Member and interest will accrue thereon at such rates as may be stipulated by HDFC Bank, from time to time, from the date of such deactivation till the date of actual payment of such monies.

   
   8.4 The Tag Member agrees to surrender the Tag to HDFC Bank or its representative, upon being requested to do so and shall not use or attempt to use the Tag after termination of such Tag.

   
   8.5 The Tag Member may, at any point of time, request for deactivation of the Tag by visiting any branch of HDFC Bank or any Kiosk and submitting such documentation as may be required in line with HDFC Bank’s policies and guidelines in this regard. The Tag Member shall also be required to return the existing Tag to the authorized HDFC Bank personnel. Thereafter, the Tag Balance (if any) shall be returned to the Tag Member by crediting the same into its bank account (details of which would have been provided by the Tag Member in the Tag Application), within 15 (Fifteen) days from the date of the request for deactivation having been placed by the Tag Member.
   
   
   

   8(a) REFUND AND CLOSURE

   In case Tag Member has a HDFC bank account, the Tag closure request proceeds will be processed into the said account. In a situation wherein the Tag Member does not have a requisite account opened with HDFC Bank, then the amounts will be processed through Demand Draft (DD) and dispatched on registered address with HDFC Bank or vide NEFT to the account details provided while raising the closure request.
   
   

9. STATEMENTS AND RECORDS

   
   9.1 All records maintained by HDFC Bank, whether in electronic or documentary form, in respect of the Tags/ Transactions (including, without limitations, details of the payments made or received pursuant to these Terms and Conditions), shall as against the Tag Member, be deemed to be conclusive evidence.

   
   9.2 HDFC Bank shall not be liable to provide copies of the Transaction slips to any Tag Member with respect to any Transaction and the Tag Member will only receive Transactional alerts through short message service message on the mobile number registered by the Tag Member with HDFC Bank.
   
   

10. INDEMNITY

    
    10.1 In consideration of HDFC Bank providing the Tag Member with the Tag, the Tag Member hereby agrees to indemnify and keep HDFC Bankand its officers, directors, employees, shareholders, agents, consultants and other representatives indemnified from and against all actions, claims, suits, demands, proceedings, losses, damages, personal injury, costs, charges and expenses of any nature whatsoever which HDFC Bank and its officers, directors, employees, shareholders, agents, consultants and other representatives may, at any time, incur, sustain, suffer or be put to incur, sustain or suffer, as a consequence of, or by reason of or arising out of: (a) provision of the ETC Facility by HDFC Bank to the Tag Member; (b) the negligence, mistake or misconduct of any Tag Member; (c) breach or non-compliance by the Tag Member of the these Terms and Conditions or any applicable law relating to the ETC Facility; (d) any claim made or proceeding commenced by any third party against HDFC Bank, in relation to or in connection with the issuance/ usage of a Tag, the ETC Facility and/or any Transaction; and/or (e) fraud or dishonesty relating to any Transaction by the Tag Member.
    
    

11.  EXCLUSION FROM LIABILITY

    
    Without prejudice to any other provisions of these Terms and Conditions, HDFC Bank shall not be liable to the Tag Member for any loss or damage whatsoever or however caused or arising, whether directly or indirectly, in connection with the ETC Facility and/or these Terms and Conditions, including any loss or damage arising from: (a) any defect or issues in respect of the relevant participating Toll Plaza; (b) the refusal of any person to honour or to accept the Tag; (c) the malfunction of any computer system; (d) handing over of the Tag by the Tag Member to anybody other than the designated employees of HDFC Bank at HDFC Bank’s premises or any Kiosk; (e) loss of data contained in the servers maintained by the operators of participating Toll Plazas; and/ or (f) any interruption or stoppage in the Tag Member's access to and/ or the use of the Tags.
    
    

12. CHARGES

    
    12.1 HDFC Bank may provide such discounts and offers as it deems fit, from time to time, in relation to the charges applicable for issue and use of Tags, which may be subject to such terms and conditions as HDFC Bank may stipulate from time to time.

    
    12.2 Any government charges, duty, debits or tax payable as a result of the use of the Tag shall be borne solely by the Tag Member and if the same is imposed upon HDFC Bank (either directly or indirectly), the Tag Member agrees and acknowledges that HDFC Bank shall be entitled to debit such charges, duty, debits or tax from the available Tag Balance.

    
    12.3 HDFC Bank shall be entitled to levy appropriate service and other charges for use of the Tag, which charges shall be notified, from time to time, to the Tag Member by HDFC Bank. The Tag Member hereby authorizes HDFC Bank to recover all such charges by debiting the available Tag Balance. In the event that the available Tag Balance is not

    
    

13. DISPUTES

    
    13.1 The Tag Member shall inform HDFC Bank, by contacting the Customer Care number as mentioned on website www.hdfcbank.com/fastag.com, within 15 (Fifteen) days of occurrence of any Transaction, if any irregularities or discrepancies exist in such Transaction or if such Tag Member has any query or compliant in relation to the Transaction. If HDFC Bank does not receive any information to the contrary within 15 (Fifteen) days of occurrence of any Transaction, it shall be entitled to assume that the relevant Transaction(s) was effected without any discrepancy.

    
    13.2 In order to be enable HDFC Bank to investigate and respond to any complains/ query raised by the Tag Member in terms of these Terms and Conditions, the Tag Member shall be required to provide HDFC Bank with all such information and documents as may be required by HDFC Bank in this regard.

    
    13.3 HDFC Bank shall make bona fide and reasonable efforts to resolve an aggrieved Tag Member’s complaints/ queries in relation to any Transaction within 15 (Fifteen) days of receipt of intimation of such complaint/ query to the Customer Care by the Tag Member. If after such effort, HDFC Bank determines that the Transaction in question is correct and valid, it shall communicate the same to the Tag Member in writing, along with the justification pertaining to the same, including as copy of the sales slip or payment requisition.

    
    13.4 Please note that HDFC Bank does not ask its customers for any confidential information, and therefore Tag Member/s must not share any information of a confidential nature including, but not limited to passwords, user-ID’s, etc., to any person who asks for the same.

    
    13.5 The Tag Member agrees and acknowledges that image capturing cameras shall be installed at participating Toll Plazas for the purpose of inter alia serving as evidence in relation to settlement of disputes raised by the Tag Member.

    
    

    13.6 For full details regarding our complaints procedure, please refer to the HDFC Bank Website. Please note that the Customer Care numbers shall be as updated on the HDFC Bank Website, from time to time.
    
    

14. DISCLOSURES

    
    14.1 The Tag Members hereby irrevocably authorizes HDFC Bank to disclose, exchange, share or part with any information relating to the Tag Members inter alia payment history information to and between its the branches, subsidiaries, affiliates, representatives, auditors, sub-contractors, service providers, other banks/ financial institution, credit bureaus and governmental authorities as may be deemed necessary by HDFC Bank and neither HDFC Bank nor the abovementioned entities shall be liable for the use of such information.
    
    

15. GOVERNING LAW AND JURISDICTION

    
    15.1 The construction and validity of these Terms and Conditions shall be governed in all respects by the laws of India. HDFC Bank and the Tag Member agree that any legal action or proceeding arising out of these Terms and Conditions shall be brought before the courts or tribunals at Mumbai and irrevocably submit themselves to the jurisdiction of that court or tribunal. HDFC Bank may, however, in its absolute discretion, choose to commence any legal action or proceedings arising out of these Terms and Conditions in any other court, tribunal or other appropriate forum and the Tag Member hereby consents to such jurisdiction and waives any objection it may have now or in the future to the laying of the venue of any such legal action or proceedings and any claim that any such legal action or proceedings have been brought in an inconvenient forum.
    
    

16. NOTIFICATION OF CHANGES

    
    16.1 HDFC Bank shall have the absolute discretion to, at any point of time, (a) amend or supplement any of these Terms and Conditions; and/ or (b) change any feature and/ or benefit offered on the Tag including, without limitation, changes which affect charges or rates and/ or method of calculation of charges with respect to the Tag. HDFC Bank shall communicate the amended Terms and Conditions, the changes made to the features of the Tag, and the revised interest, charges and rates with respect to the Tag, by hosting the same on the HDFC Bank Website or in any other manner as may be decided by HDFC Bank, from time to time. The Tag Member shall be responsible for regularly reviewing the current Terms and Conditions, including any amendments thereto as may be posted on the HDFC Bank Website, and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Tag.
    
    

17. SET-OFF AND LIEN
    
    17.1 Notwithstanding anything to the contrary contained in these Terms and Conditions or any other document/ arrangement: (a) in respect of all and any of the Tag Member’s present and future liabilities to HDFC Bank, whether under this document or under any other obligation/ loan/ facilities/ borrowings/ document, whether such liabilities are/ be crystallised, actual or contingent, primary or collateral or several or jointly with others, whether as principal debtor and/ or as guarantor and/ or otherwise howsoever (collectively “Liabilities”), HDFC Bank shall in addition to any general lien or similar right to which it as a banker may be entitled by Applicable Law, practice, custom or otherwise, have a specific and special lien on all the Tag Member’s present and future stocks, shares, securities, property, book debts, all moneys in all accounts whether current, savings, overdraft, fixed or other deposits, held with or in custody, legal or constructive, with HDFC Bank, now or in future, whether in same or different capacity of the Tag Member and whether severally or jointly with others, whether for any banking relationship, safe custody, collection, or otherwise, and (b) separately, HDFC Bank shall have an express right to, without notice to and without consent of the Tag Member, set-off, transfer, sell, realise, adjust, appropriate all such amounts in all accounts (whether prematurely or upon maturity as per HDFC Bank’s discretion), securities, amounts and property as aforesaid (whether earmarked for any particular Liability or not) for the purpose of realising or against any of dues in respect of any of the Liabilities and to combine or consolidate all or any of accounts of the Tag Member and to set-off any monies, whether of same type or nature or not and whether held in same capacity or not including upon any default in payment of any part of any of the Liabilities when due in terms of such documents. The Tag Member agrees and confirms that HDFC Bank may, for provision of the ETC Facility utilise such third party subcontractor(s)/ service providers as it may deem fit.
    
    17.2 The Tag Member agrees and confirms that HDFC Bank may, for provision of the ETC Facility utilise such third party subcontractor(s)/ service providers as it may deem fit.
    
    

DECLARATION

I/ we hereby irrevocably and unconditionally declare, confirm and agree that:

1. I/ we have carefully read the Terms and Conditions and Schedule of Charges as applicable to the ETC Facility as set forth in the product leaflet (which I/ we have fully understood) and hereby agree, undertake and accept the same. I/ we hereby confirm that the Tag Application has been filled by me/us. I/ we understand that any changes/ updates in the Terms and Conditions and Schedule of Charges applicable to the HDFC Bank Tag would be updated on www.HDFCbank.com, from time to time and I/ we hereby agree and undertake that I/ we shall keep myself/ ourselves updated about any such changes/ updates to these Terms and Conditions and Schedule of Charges.

2. All the particulars and information provided in the Tag Application (including all documents referred or provided therewith) are true, correct, complete and up-to-date in all respects, and I/ we have not withheld any information. I/we shall inform HDFC Bank immediately regarding any change in any of the information provided by me/ us in the Tag Application. I/ we agree and undertake to provide all such further information that HDFC Bank may require, from time to time.

3. I/ we understand that HDFC Bank reserves the unqualified right to reject my/ our Tag Application without providing any reason. I/ we agree and understand that HDFC Bank reserves the right to retain my/ our Tag Application and all documents provided therewith. I/we am/are aware that the submission of the completed Tag Application, this declaration and all other documents/ information that HDFC Bank may require, does not result in automatic or deemed approval by HDFC Bank for provision of the ETC Facility, the provision of which shall be at the sole discretion of HDFC Bank. I/we shall not hold HDFC Bank liable for any loss, damage or delay caused to me/us due to HDFC Bank rejecting my/our Tag Application. HDFC Bank's decision in this regard shall be final.

4. I/ we authorize HDFC Bank or its agents to make all references and enquiries which HDFC Bank may consider necessary in respect of or in relation to any information provided in my/ our Tag Application, and I/ we agree and undertake to provide full co-operation in this regard.

5. I/ we authorize HDFC Bank to exchange, share or part with all the information, data or documents relating to my/ our Tag Application, with other its group companies, other banks, financial institutions, credit bureaus, agencies, governmental authorities or such other persons as HDFC Bank may deem necessary or appropriate, for processing of the said information/ data by such persons or otherwise for any other use/ purpose, and I/ we shall not hold HDFC Bank liable for the use/ sharing of such information by either HDFC Bank or such third parties.

6. I/ we authorize HDFC Bank unconditionally and irrevocably to debit any and all amounts as may become payable by us in respect of the Tag as per the Terms and Conditions and Schedule of Charges from the Tag Balance.

7. I hereby give voluntarily at my own discretion Aadhaar number as issued by Government of India to HDFC Bank along with my other KYC documents for the purpose of opening an account based relationship and voluntarily give my consent to use my Aadhaar details for the purpose of authentication with UIDAI. I am enclosing a copy of my duly self-attested Aadhaar card / e-Aadhaar for your record. The Aadhaar card details voluntarily furnished by me is true, correct and complete.

8. I/we hereby agree and undertake to adhere to all rules and guidelines as may be issued by HDFC Bank from time to time for completing KYC process in relation to the FASTag issued to me/us.

9. I/we hereby authorise HDFC Bank to share the vehicle number with Ministry of Road Transport’s (MoRT) VAHAAN Portal and to collect and use the information associated with the vehicle number, on VAHAAN Portal, for processing the application.

10. I / we authorize HDFC Bank to create FASTag wallet as per the details provided by me/us in the Application and issue FASTag to the Vehicle as per the Class of vehicle which is categorised by NPCI Vehicle Class in Annexure I.

11. I / we authorize HDFC Bank to create wallet for individual and /or commercial use as per the details submitted by me/ us in the Application.

12. I/We hereby authorize the Bank to debit applicable charges from my Credit Card or Debit Card or account (as applicable)

13. I/we authorize the Bank to share details like vehicle number, tag no. of issued tag and existing tag (if any), vehicle class and mapper class with National Payments Corporation of India (NPCI) for tag registration and for verification of existing tag, if any.


Annexure I

The Charges applicable on HDFC Bank Tag are as follows:

Fees and Charges**

One-time Security Deposit Amount **

Please note:

1. Goods and Services Taxes applicable from time to time, will be levied on the charges

2. Convenience fee may be applicable for online recharge.

3. Charges mentioned above are subject to change. Please visit www.HDFCbank.com for latest charges. Visit https://v.hdfcbank.com/htdocs/common/fastag/feescharges.html for latest fees & charges.

Note:

1. The above mentioned Tag deposit rates would be applicable depending on your vehicle class and would be refundable to you at the time of deactivation of the Tag in accordance with Paragraph 8.5 above, subject to the exception set out below

2. The above mentioned Tag deposit shall not be refundable in case (i) the relevant Tag member is a person from whom full know- your customer check has not been done by HDFC Bank or (ii) there exists a negative Tag balance

CONSENT FOR CROSS-SELL OF OTHER PRODUCTS

1. In this Consent the following capitalized terms shall have the meanings assigned to them hereunder:
   
   “Data” shall mean all personal data, sensitive personal data or information, transactional data, Derivative Data, any other information, etc., in relation to me/us, including the following including in relation to past Products:
   
   

   (a) know your customer (KYC)/anti money laundering (AML) data;

   (b) information submitted while making any application or request to the Bank for any Product;

   (c) any transactional data generated during the relationship or as a result of any transaction, statements, entries, logs, in relation thereto;

   (d) any information obtained/received by the Bank from any other source;

   (e) any Derivative Data.
   
   “Derivative Data” shall mean any credit scores, credit information, behavioural projections, profiling, analytical results, reports (prepared by the Bank internally or other persons) including through any algorithms, analytics, software, automations, profiling etc., and whether such derivative is from the information collected from me/us or in combination with any other information sourced from any other person, database or source whether by the Bank or other persons. The process of arriving at and generation of such Derivative Data involving or through any of the above sub-processes/methods, shall be referred to as “Derivation”.
   
   
   

   “Specified Purposes” shall collectively mean, credit assessment, risk assessment, risk analysis, obtaining credit information reports, scores, scrubs, fraud checks, fraud detections, fraud prevention, detecting and preventing crime including crime/ terror funding, detecting malpractices or discrepant documents or information, prevention of misuse, assessment of credit worthiness, financial standing, due diligence, background check, physical and other inspections, verifications, obtaining any reports for any of the above, KYC/ AML checks, customer service, monitoring, collections, default detection, default prevention, default investigation, recovery, any legal proceedings, actions, enquiries, investigations, pursuing any remedies, enforcing rights, reporting including credit reporting, KYC reporting, default reporting, filing, perfections etc., whether any of these are undertaken internally or through any credit information company, bureau, service provider, consultant, vendor, agent, fintech entity, co-brand entity/partner, distributor, selling/ marketing agent, any partner, other player/ intermediary in any ecosystem of which we are a part, TPAP (for whom we act as PSP bank), collaborator, co-lender, co-originator, merchant, aggregator, lead generator, sourcing entity, client, customer or other person with whom we have a tie-up or contract for any products or services, person or through a combination of multiple options. Each of such credit information company, bureau, service provider, consultant, vendor, agent, fintech entity, co-brand entity/partner, person, and their respective service providers, consultants, vendors, etc is referred to as a “Processing Entity”.

   “Product(s)” shall mean products, services and/or businesses of the Bank/ of subsidiaries/ affiliates, or where the Bank/ its subsidiaries/ affiliates distribute, refer or act as agent or act as a sponsor bank or a PSP bank etc. in relation to any products or services (including where the initiation of any transaction is not directly with the Bank but is with a relevant Processing Entity like in case of a UPI transfer through a TPAP where the account is not with the Bank but it is a PSP bank), whether the Bank is in direct relationship or indirect relationship through any other intermediary/ entity, vis-à-vis me/us, as also if I/we are an authorised signatory or authorised person or representative of a non-individual applicant/ customer/ user of any services, whether direct or indirect.

   The Products, which have been applied/ requested by or availed by, me/us (including where the initiation of any transaction is not directly with the Bank but is with a relevant Processing Entity like in case of a UPI transfer through a TPAP where my/our account is not with the Bank but the Bank is a PSP bank), shall be referred to as “Requested Products”, and the Products (including any future products or services) other than the Requested Products, shall be referred to as “Other Products”
   
   

2. 
   

   I have read, understood and hereby accept the Privacy Policy of the Bank (available at www.hdfcbank.com).

3. 
   

   I/we hereby authorize HDFC Bank Limited (“Bank” which which expression shall be deemed to include its successors and assigns) to:

   a. process, use, store, retain, share with Processing Entities or collect from any Processing Entities or other databases, sources, persons/entities, the Data or any part thereof, for any of the Specified Purposes:

   i. For assessing, examining and/or determining, from time to time, my/our eligibility (including pre-eligibility), suitability or credit worthiness and/or for profiling for any of the Other Products;

   ii. for Derivation and sharing any Derivative Data (between Bank and any Processing Entity) in connection with the aforesaid purposes;

   iii. contacting, establishing contact, whereabouts, including through email, postal address, telephone, social media, banners on applications/ electronic platforms, notifications, website, premises of third parties/ other persons;

   iv. deploying any analytics, automated processing, algorithms, robotics, profiling, encryptions, coding, anonymizations, etc., for any of the aforesaid.

   b. For conveying to, displaying or communicating with, marketing, selling, cross-selling to me/us, by the Bank internally or externally, including through or on the Bank’s apps/ platforms, any other channel(s) of the Bank, TPAP, service providers, agents, or otherwise through notifications, emails or other means of communications, whether online or offline or telecommunications, the availability or eligibility or offer, whether in principle or otherwise, of any of the Other Products, and for this purpose all authorisations mentioned in (ii) to (iv) of 3 (a) above in relation thereto.
   
   

4. I/we authorize the Processing Entities to process, use, store, retain, share with the Bank or the other Processing Entities or collect from Bank, any other Processing Entities or other databases, sources, persons/entities, the Data or any part thereof, for any of the aforesaid consented purposes.
   
   

5. I/we hereby authorise the Bank to share the vehicle number with Ministry of Road Transport’s (MoRT) VAHAAN Portal and to collect and use the information associated with the vehicle number, on VAHAAN Portal, for offering Other Products like insurance and financing thereof.

6. For the purposes of aforesaid consents and authorizations, it shall be deemed that I/we have furnished all the Data separately under this consent.

7.  I/we agree that the aforesaid consents/ authorizations for the aforesaid purposes shall survive beyond the validity of such application/ tenure of the Product/ consummation of any transaction.

8. 
   

   The consents given or denied under this document do not limit any other consents obtained or given