TAB Declaration & Tnc

RESIDENT INDIVIDUALS

a) l/We understand that the deposits are accepted in accordance with the directives laid down by the Reserve Bank of India from time to time. l/We understand that these deposits and their payments are governed by the laws in force from time to time in India and are payable at the branch of IndusInd Bank in India where the deposits were made. The Bank has discretion to allow withdrawal of the deposits, either at the branch of deposit or at any other branch in India.

(b) I/We further unconditionally and irrevocably authorise IndusInd Bank Ltd. to debit my/our account with an amount equivalent to the fees and charges applicable for the services enjoyed by me/us.

(c) I/We agree to indemnify and hold the Bank harmless in case of any loss suffered by the Bank, its customers or a third party or any claim or action brought by the third party which is in any way the result of availing of services by me/us.

(d) In case of joint accounts, instruction received from one of the account holders to stop operations will be deemed to be sufficient notice to the Bank to act upon such instructions. Further operations would be allowed only upon receipt of fresh instructions from all the account holders.

(e) I/We agree that all the information disclosed above is correct and agree to inform you of any change in the information provided in this form or in related documents. In case any of the above information is found to be false/untrue/misleading/misrepresenting or in case of any delay from my/our side to inform the Bank about any change in the information, I/We am/are aware that I/we shall be solely responsible and liable for all consequences arising therefrom.

(f) l/We confirm having read the rules of the Bank regarding the conduct of the account and the rules and regulations pertaining to Phone Banking, Debit Card, Doorstep Banking, Anywhere Banking, Net Banking, Mobile Banking, Video Banking & Utilities Pay Facilities. l/We accept and agree to comply with the terms & conditions or any rules of the Bank that may be in force from time to time. l/We acknowledge that it is my/our responsibility to obtain a copy of and read the same.

(g) In case the account remains overdrawn on account of unrecovered charges, if any for a period of 3 months and above, the account will be closed and the Bank will not be responsible for giving any advance intimation thereof.

(h) I/We also understand that the continuation of the account is at IndusInd Bank’s sole discretion and in case IndusInd Bank is dissatisfied with the conduct of the account, IndusInd Bank has the right to close the account after giving me/us 15 days notice or withdraw the concessions in all or any service charges granted to me/us or charge IndusInd Bank’s applicable rates for such services.

(i) I/We understand that as my/our accounts is a Basic Savings Bank Deposit Account (Small) under Simplified KYC Process, at any point of time if the total balance or the total yearly turnover in all my/our account exceed `50,000/- and `1 lac respectively, or the aggregate of all withdrawals and transfers in a month exceed rupees ten thousand, unless I/We complete the required KYC requirement, the Bank will be entitled to close the account.

(j) For BSBDA and BSBDA (Small) account: I/ We understand that as my/our account is a Basic Savings Bank Deposit Account/Basic Savings Bank Deposit (Small) Account, I/we cannot hold any other account in this Bank. I/We confirm that I/we are not having any other bank account in my/our name in any other Bank. Also if I/we have any other account I/we shall get the same closed within 30 days of opening of this account.

(k)I/We  undertake and authorise  the Bank to store/disclose/exchange/share/ part with, without notice to me/us, any/all the information/data furnished by me/us and/or my/our representative(s) including personal and business, from time to time through the application form(s)/related documents/tele calling services or  any other mode with credit bureaus/statutory bodies/regulatory authority/law enforcement to comply with its obligations under Applicable Laws.

In the event of the death of the depositor, premature termination will be allowed without levy of penal charge. The following will be applicable on demise of all or sole deposit holders with nomination:

• The nominee will have the right to seek premature termination of term deposit account, Without nomination
• Premature termination will be permitted on joint request by all legal heirs (or any of them as mandated by all the legal heirs) and upon verification of the authority of the legal heirs.

Following will be applicable on demise of one of the joint deposit holders:

• If the specific instructions for premature withdrawal are other than jointly, then in the event of death of one of the depositors, premature termination and payment of Term Deposits shall be allowed to survivor/(s) i.e In the event of the death of any of the deposit holders, the survivor, if he/she so requests the Bank , to prematurely withdraw the deposit without seeking the concurrence of the legal heirs of the deceased joint deposit holder, the Bank is entitled to honour the same.
• Such payment to survivor/s shall give valid discharge to the Bank.

I/We have obtained, read, understood and agree the terms and conditions governing the opening of an account with IndusInd Bank Ltd. (the Bank), and those relating to various services including but not limited to 1) ATM 2) Mobile Banking 3) Debit Card 4) Net Banking 5) Payment Gateway 6) Bill Pay 7) SMS Banking 8) Alert Services 9) Fixed Deposits/Recurring Deposits, available at Bank’s website www.indusind.com I/We certify that all the information furnished by me/us is true.

(l) I/We undertake and authorise the Bank and its agents/representatives (i) to make references/enquiries as may be deemed necessary by the Bank; and (ii) to store/disclose/exchange/share/part with, without notice to me/us, any/all the information/data furnished by me/us and/or our representatives including personal and business, from time to time through the application form(s)/related documents/tele calling services or any other mode with any parent/subsidiary/affiliate/associate of the Bank, any agent/service providers/professional advisors of the Bank or other such persons as may be deemed necessary or appropriate by the Bank for providing services(s) to me/us.

I also authorise the Bank to disclose the information relating to Bank Guarantee/Letter of Credit facility if any availed by me/us.

I/We shall not hold the Bank and/or its agents/representatives liable for using/sharing information provided herein for the said purpose(s).

l/We waive the privilege of privacy & privity of contract. My personal/KYC details may be shared with Central KYC Registry.

I/We acknowledge that, as per Prevention of Money Laundering Rules, 2005, in case of any update in the documents submitted by me/us after CIF/account opening, I/We shall submit the updated documents to the Bank within 30 days to be updated in the Bank records.

I/We confirm that I/we have read and understood the Schedule of Charges associated with my Savings Account Product. I/We understand the detailed charging structure is available on IndusInd bank's Website as Schedule of Charges document.

If applicable, I hereby declare that the Mobile Number being used to open the account belongs to my family member/relatives

Fixed/ Recurring Deposit Terms & Conditions

• In the event of the death of the depositor(s), premature termination will be allowed without levy of penal charges as under:
  • With Nomination: In the event of the death of all depositors, the nominee will have the right to seek premature withdrawal of Term Deposit account;
  • Without Nomination: In the event of the death of all depositors, premature withdrawal will be permitted on joint request by all legal heirs (or any of them as mandated by all the legal heirs) and upon verification of the authority of the legal heirs;
  • Term Deposit with survivorship clause: Bank may permit withdrawal of Fixed/Term Deposits in accordance with the mandate of ‘Either or Survivor’, ‘Former/Latter or Survivor’, ‘Anyone of Survivors or Survivor’, etc. as the case may be;
  • Term Deposit with Mandate Jointly: Premature withdrawal will be permitted on joint request by the Survivor and legal heirs of the deceased depositor (or any of them as mandated by all the legal heirs) and upon verification of the authority of the legal heirs.
• Interest (simple) on Fixed Deposits with tenure less than or equal to 180 days will be only paid on the maturity date of such deposit.
• Linked Current/Savings Account will be applicable for initial payment, interest/maturity payment, and sweep-in facility, if selected
• For Term Deposits: Mandate provided in the application will be applicable to premature withdrawal at any point of time, including death of any one but not all holders. In case of joint Term Deposits having operating instructions as ‘Either or Survivor’, ‘Anyone or Survivor’ or ‘Former or Survivor’, the Bank shall repay the deposit(s) before maturity of the deposit(s) in case such a request is received in accordance with the operating instructions of the respective deposit(s), along with relevant documents as may be specified by the Bank from time to time. The same would be applicable even in the event of death of the joint depositors prior to maturity of the deposit. Any such repayment before maturity shall constitute a valid discharge of the Bank’s obligations against all concerned including, but not limited to, the nominee/legal heirs of the depositors or anyone claiming under them.
• For bulk deposits, please refer to the deposit policy for T&C on your Fixed Deposits. In case of any discrepancy in KYC or FD funds not received the FD will be liquidated without any interest payment and FD advice will be null & void.
• The nomination on the Sweep fixed Deposit will be the same as that on the linked CASA account. The same is subject to modification/updation basis customer request.
• Fixed Deposits booked through Indus Smart Sweep, will automatically be linked for sweep-in facility. Also, any holder addition/deletion will lead to de-linking of the Existing FDs and Cancellation of the existing Sweep FD setup instruction

Consent clause:
I/ We certify that all the information furnished by me/ us is true. I/ We authorise and give consent to the Bank or its agents to make references/ enquiries as may be necessary and to disclose, without notice to me/us, information furnished by me/ us in application form(s)/ related documents or exchange/ share/ part with any/ all information including financial details with credit bureaus/ statutory bodies/ regulatory authority / law enforcement authority, other agencies as may be deemed necessary or appropriate, at any point of time. I also authorise the Bank to disclose the information relating to Bank Guarantee/ Letter of Credit facility if any availed by me/us. l/ We waive the privilege of privacy & privity of contract. I/ We consent to receive information/ service updates and product updates etc. for Marketing purposes through Telephone/ Mobile/ SMS/ Whatsapp/ Email by the Bank/ its agents. I/ We hereby give consent to receive information from Central KYC Registry through SMS/ Whatsapp/ Email on the above registered contact number/email address. I/ We confirm that I/ We have read and understood the above Declaration, and that the contact details provided on the form are correct.

Aadhaar Disclaimer:
NPCI Mapping: Mapping is a process of associating a Bank with Aadhaar number which is facilitated by NPCI for Direct Benefit Transfer to the respective Bank who have linked the Aadhaar Number to a specific Bank account for receiving Direct Benefits to which customer has given the consent. IIN number will be provided by Bank receiving the consent Application.

Tatkal Kit Declaration
-I/We shall furnish all the necessary documents as may be required by the Bank in compliance with the ‘KYC’ (Know Your Customer) guidelines. I/We understand that though the Debit Card and Debit Card PIN mailer have been handed over to me/us , it does not construe the bank’s having accepted my/our application for opening an account with them.

-I/We understand that the bank reserves the right to refuse my/our account opening application even if the account number, deliverables have been provided to me/us by the bank and the bank will not be responsible for any eventuality resulting from acceptance or decline of my/our application for a Savings Account/Debit Card.

-In the event of the Bank declining my/our application on account of any deficiency for want of documents or for any other reason. I will /We shall return the account opening welcome kit to the bank immediately on demand.

-I/We agree to close the savings account if the initial cheque is returned for the following reasons-Payment stopped by the drawer, Material alteration, No such account, insufficient funds, Account Closed / Blocked.

-The Bank reserves the right to close my/our account , in case the welcome letter sent by the bank at my/our communication address post activation, is returned for whatsoever reason.