Terms and Conditions

                                    Terms and Conditions for NRE, NRO,FCNR and RFC Accounts

     
These terms and conditions apply to and regulate the establishment and operation of the NRE Savings bank account, NRO savings bank account, NRE fixed deposit, NRO fixed deposit, FCNR deposits, NRI Edge, NRI PRO and NRI PREMIA (“Accounts”) offered by ICICI Bank to its Customers (“Terms”). These Terms shall be in addition to any other terms as stipulated by ICICI Bank from time to time.


SECTION CONTENT
I. General Terms and Conditions for NRE, NRO, FCNR and RFC Accounts;
II. Terms and Conditions Governing Fixed Deposits;
II A. Terms and Conditions for Fixed Deposit through Registered E-mail ID;
III. Terms and Conditions for NRI Variants;
IV. Terms and Conditions for Recurring Deposits;
V. Terms and Conditions for Rupee Plus Plan;
VI. Terms and conditions for the issue and use of ICICI Bank ATM Cards;

  • Terms and Conditions for Debit Cards;
  • Terms and Conditions for Internet Website Usage through IDC;

VII. Terms and Conditions governing Internet Banking service of ICICI Bank;
VIII. Additional Terms.

 

These Terms shall be read in conjunction with the relevant application(s) or Account Opening Form(s) of the Bank, the terms of which are incorporated herein by reference. If the Bank, in its sole discretion, agrees to grant the request in accordance with the relevant Application(s) or Account Opening Form(s), the Bank shall book the relevant transaction/ Account and send a Deposit Confirmation Advice or Deal Confirmation Advice, as the case may be, to the Customer.

 

In the event of inconsistency between these Terms, the terms and conditions in the relevant Application(s) and Account Opening Form(s) and the terms and conditions in the relevant Deposit Confirmation Advice or Deal Confirmation Advice, as the case may be, then

  • the terms and conditions in the Application(s) or Account Opening Form(s), as the case may be, shall prevail over the Terms; and
  • the terms and conditions in the Deposit Confirmation Advice or Deal Confirmation Advice, as the case may be, will prevail over the terms and conditions in the Application(s) or Account Opening Form(s), as the case may be.

These Terms form a contract between the Customer and ICICI Bank. The Customer shall apply to ICICI Bank in the prescribed form for operation of the Account and/or availing of any Services in relation to the Account (s). By applying for opening of Account/ availing a Service, the Customer hereby acknowledges that he / she/they has /have read, understood and accepted and agreed to abide and be bound by these Terms.

 

 

SECTION I - General Terms and Conditions for NRE, NRO, FCNR and RFC Accounts


1. Definitions

In these Terms, the following words and phrases have the meaning stated hereunder unless indicated otherwise:

1.1 "Account" means any account of the Customer with the Bank including without limitation any Non Resident (Ordinary) (“NRO”) savings Account, Non Resident (External) (“NRE”) savings Account, NRE fixed deposit Account, NRO fixed deposit Account, Foreign Currency Non Resident (“FCNR”) deposits, RFC Accounts and such other NRO/ NRE/ RFC or FCNR accounts or their NRI variants like NRI Pro, NRI Premia and NRI Low Balance Account or such other variants as may be notified by ICICI Bank from time to time (“NRI Variants”) which may bfe made available by the Bank to the Customer from time to time.

1.2 “Account Opening Form” or “Application Form” or “AOF” refers to the account opening/ relationship opening form to be submitted/ provided by the Customer with required information relating to the Customer for opening, operation, maintenance of Accounts with ICICI Bank from time to time;

1.3 "Customer" refers to any person/ applicant who is a non-resident Indian (“NRI”) and/ or Person of Indian origin (“PIO”) has accepted these Terms and is holding an Account with ICICI Bank and, where there is more than one such person, it shall be construed, as the context requires, to mean any, all or each of them.

1.4 "Deposit Confirmation Advice" or "Deal Confirmation Advice" or “Balance Confirmation Certificate”, in relation to any Accounts, means the account (including balance therein) or deposit confirmation advice sent by the Bank to the Customer in connection with the relevant account or deposit containing the final commercial terms and conditions for the relevant account or deposit as approved by the Bank, which shall be final and binding on the Customer;

1.5 “Group Companies” means ICICI Bank Limited, India, incorporated under the laws of India and all its subsidiaries companies.

1.6 “Quarter” shall mean a financial quarter i.e. April – June, July – September, October – December, January – March in any financial year.

1.7 “Month“ shall mean a calendar month i.e. January, February, March, April, May, June, July, August, September, October, November, December in any calendar year.

1.8 "Services" shall mean the services provided by ICICI Bank in connection with an Account and more particularly described in these Terms.

1.9 "Website" refers to the website owned, established and maintained by ICICI Bank at the www.icicibank.com.

1.10 Interpretation

a. All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".

b. Words importing any gender include the other gender.

c. Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.

d. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.

e. Words “ICICI Bank” or “Bank”, refer to ICICI Bank Limited, having its registered office at Landmark, Race Course Circle, Vadodara 390007.

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2. Applicability of Terms

 

These Terms form the contract between the Customer and ICICI Bank. The Customer shall apply to ICICI Bank in the prescribed / Account Opening Form/ Application Form or AOF to open any Account or relationship or to avail of any banking facilities from the Bank and for operation of the Account and availing of related Services. By applying for opening the Account, the Customer acknowledges that he / she has /have read understood accepted and agreed to abide and be bound by these Terms.

 

Each relationship with a Customer will be represented by a unique Customer identification number ("Cust ID"). For example, a banking relationship in single name is different from a banking relationship in joint names. Each banking relationship is distinct and unique and hence is identified by a separate Cust ID. The Bank will allocate a distinct and unique Cust ID for each Customer.

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3. Account Opening

 

The account opening formalities are governed by the policies of ICICI Bank and may be revised from time to time. It may require Customer/s to submit duly filled Application Form/s along with the prescribed set of documents stipulated including a Permanent Account No. (“PAN”) or Form 60/61 or similar verification documents from time to time; to the satisfaction of the Bank.

 

The documents listed in the Account Opening Form(s) and/or Application(s) Form or AOF are not an exhaustive list of requirements and the Bank reserves the right to require submission of such other documents as may be determined by the Bank on a case by case basis depending upon the nature of the relationship. The Account cannot be opened for business purposes. In the event where the documents submitted by the individuals/ applicants or Customers for opening an Account and/ or availing the Bank’s products and services or for processing the transactions thereon are incomplete or discrepant, ICICI Bank shall notify such discrepancies and/or certain additional verification/ documentation requirements within a reasonable time through emails sent to the email ID of the Customer (as provided in the Account Opening Form(s)/Application Form/ AOF together with a Service Request (“SR”) number quoted as a reference. In case highlighted discrepancies remain unresolved or upon non-receipt of required documents within the stipulated time period, if any, ICICI Bank, shall have the right to reject the Account Opening Form(s)/Application Form/ AOF of the individual/ applicant and in accordance with its policies and procedures, shall retain any such discrepant documents for a period of 6 months only from the date of initial receipt.

 

After the expiry of 6 months, ICICI Bank shall be entitled to dispose of the documents in a suitable manner without any prior notice to the individual/ applicant. ICICI Bank shall not be liable, in any event, to return the discrepant or other documents or provide any details to the individual or applicants after the expiry of the aforementioned period. Thereafter, if the individual or applicant intends to open/ avail of a new Account / transaction with ICICI Bank, then fresh documents shall be submitted by such individuals/ applicants as may required by ICICI Bank for processing.

 

In case the Account is opened with an account opening cheque from another bank, ICICI Bank reserves the right not to open/activate the Account until clear funds are received by ICICI Bank or in the event such account opening cheque is dishonored.

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4. Operating Accounts


4.1 An Account may be opened in the names of:
i) An individual in his/her own name.
ii) Two or more persons in their joint names.

 

4.2 All the Accounts maintained in the name of an individual shall be operated singly by the individual or the Power of Attorney/ Mandate holder(s) of such individual and in the case of joint accounts, by the account holders jointly, or by either of the joint-holder/s or as may be specified by the joint account holder/s in the AOF or Application Form, or by their Power of Attorney/ Mandate holder(s) as accepted by ICICI Bank in its discretion.

 

4.3 If an NRO Account is being operated through a resident Power of Attorney/Mandate Holder, the operations of such resident Power of Attorney/Mandate Holder shall be restricted to:

a. All local payments in Indian Rupees (“INR”) including payment for eligible investments, subject to compliance with relevant regulations of Reserve Bank of India (“RBI”); and

b. Remittance(s) outside India of the Customer’s current income in India, net of applicable taxes. The remittance will be made subject to applicable RBI regulations and approvals

The resident Power of Attorney/Mandate Holder is not permitted to:

a. Repatriate outside India funds held in an account other than to the offshore account of the Customer;

b. Make a payment by the way of gift to a resident on behalf of the Customer; or

c. Transfer funds from an NRO savings account to another savings/non interest bearing (current) account.

All Customers and/ or their Power of Attorney/ Mandate holder(s) will be responsible for compliance with the above norms (as made applicable from time to time).

 

4.4 In case of joint Accounts, any change in operational instructions or any other information with regard to the Account Opening Form(s)/ Application Form/ AOF is to be provided by all the joint account holders irrespective of the mode of operation of such Account.

The Customers agree/s that in case of a joint account having mode of operation as either or survivor / anyone or survivor, anyone of them, as the Account holders; may create a term deposit by placing a request through branches, ATM, phone banking, internet banking, mobile banking or registered e-mail ID, as such channels may be made available by ICICI Bank from time to time and subject to such terms and conditions as may be specified by ICICI Bank from time to time. The Customers agree that such a term deposit shall be created in the name of all the Account holders with mode of operation as either or survivor / anyone or survivor and the Customers shall be bound by the terms and conditions applicable to such term deposit or to a term deposit created by renewing / auto-renewing the same. The Customers also understand that for availing a loan against or for premature termination of such a term deposit or any fixed deposit created by renewing / auto-renewing the same, written consent of all the term deposit holders would be required in the manner specified by ICICI Bank. The Customer/s shall not raise any dispute / claim against ICICI Bank for creating a term deposit in the manner specified above and shall keep ICICI Bank indemnified against any loss / harm suffered by ICICI Bank with respect to any dispute / claim raised by anyone of us or any third party.

 

4.5 ICICI Bank may send through courier or post or any other acceptable mode of communication from time to time to the registered mailing address or email ID, etc. furnished by the Customer, statements of account, or Balance Confirmation Certificate Deposit Confirmation Advice or Deal Confirmation Advice, cheque books, Debit cards, various PIN mailers, internet banking user ID and/ or passwords and such other items relevant or pertaining to the Cust ID under the relevant Account for operation of such Account. It is incumbent upon the Customer to intimate any change in the registered mailing or communication address, if any, immediately or within fourteen (14) days of such change to ICICI Bank. ICICI Bank shall not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of non-intimation of any change in the registered mailing or communication address or email ID of the Customer.

 

4.6 The Customer is / are expected to examine the entries in the statements of Account on receipt, and draw the attention of ICICI Bank to any not-errors or omissions that might be discovered. ICICI Bank does not accept any responsibility for any loss arising out of failure on the part of the Customer to carry out an examination of entries in the passbook/statement and to point out any such not-errors and/or omissions within fourteen (14) days from the date of issuance of the statement/ updation of passbook.

 

4.7 The Customer shall open the Account with a minimum balance as prescribed by ICICI Bank. The Customer shall be responsible for maintaining a minimum average balance (“QAB”/ “MAB”) during a Quarter/Month respectively. Failure to maintain the prescribed QAB/MAB may attract service charges and such charges may be deducted by ICICI Bank from the Customer's Account.

 

4.8 The Customers are expected to provide PAN No. or Form 60/61 or any such other document as may be prescribed by tax authorities from time to time for opening the Account, acceptance of cash deposits etc. in accordance with the applicable provisions of the Income Tax Rules, 1962 and compliance thereof.

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5. Cheque Book


5.1 Cheque books will be couriered directly to the registered mailing or communication address given by the Customer provided all Account opening formalities are duly completed. Subsequent cheque books can be requisitioned through the requisition leaf(s) available in the cheque book or through ATMs or internet banking or such other acceptable modes of communication as may be made available by ICICI Bank from time to time, subject to satisfactory conduct of the Account. Cheque books are normally issued free of cost, however, ICICI Bank reserves the right to recover the cost of cheque book(s) requisitioned by the Customer. Delivery costs like courier charges, etc. would however be recovered from the Customers.

 

5.2 Alterations, if any, on cheques are required to be authenticated by the drawer's signature against each such alteration. ICICI Bank reserves the right to refuse payment against cheques that have been altered in any way unless the alteration is authenticated by the drawer under full signature as per specimen on record with ICICI Bank. Cheques should be drawn in such a way as to prevent alteration after issue and the drawer's signature should be uniform with that on record.

 

5.3 ICICI Bank will record and accept instructions from the drawer for stopping payment requests against cheques that are lost, stolen, or not required to be paid against, only if such instructions are received from the drawer by the Bank, prior to presentment of such cheques at the Bank or in the case of e-cheques, only if the stop payment requests are logged prior to payment of moneys against the same, and ICICI Bank shall not be responsible in any manner whatsoever for any losses caused, or payments made, if the cheques are presented for payment to ICICI Bank prior to receipt of instructions, if any, from the drawer of the cheque/s or in the case of e-cheques, if the stop payment requests are logged after payment against such cheques has been initiated by ICICI Bank. ICICI Bank may levy service charge(s) for such countermanding instructions.

 

5.4 ICICI Bank may dishonour and/or return cheques unpaid which are altered, if considered by the Bank to be ambiguous or suspicious in any way, or if received for payment more than three (3) months after the date on which the cheque is drawn.

 

5.5 Customer should issue cheques against the credit in the Account only after making prior arrangement of funds in the Account to avoid any returns/dishonour. If a cheque issued by a Customer is required to be returned for insufficient balance in the Account or for being in excess of arrangements, a premium/service charge may be levied by ICICI Bank. If any cheque deposited by the Customer is returned unpaid, service charge(s) may be recovered from the Customer. In case of large number of returns/dishonours in the Account, the Bank reserves the right to take corrective action for the specific Accounts as deemed fit.

 

5.6 With effect from October 1, 2009, ICICI Bank has discontinued the service of lock-box collection of foreign-currency cheques using cheque-transfer slips provided with the NRE savings account. No request will be processed through these slips.

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6. Safe Keep of Debit Card, Passwords and Cheque Book


The Customer shall be solely responsible for the safe-keeping and the confidentiality of the Passbook statements of account, Balance Confirmation Certificate or Deposit Confirmation Advice or Deal Confirmation Advice, cheque books, Debit card and its PIN, user/ login ID and passwords relating to internet banking and such other items relevant or pertaining to the Account. Customers should exercise caution in the safekeeping of cheque books, and should report the loss of signed cheques, blank cheques or cheque books as soon as possible. Cheques should never be pre-signed in blank; it is safer if cheques are always crossed and not made out to "Bearer". Customers are advised to keep the cheque books/statement of accounts in a place of safety to minimize the risk of loss, misuse or contributing to negligence.

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7. Conduct of Account


7.1 A Customer may request for transfer of his/her Account from one branch to another branch of ICICI Bank by giving a written request along with, surrender of the ATM/Debit card, unused cheque books. ICICI Bank will close the Account and arrange to open a new Account at the other branch and will issue new cheque book, new ATM/debit card, etc.

 

7.2 Transactions are entertained normally during banking hours at the branch where the Account is maintained or at any other ICICI Bank Branches under Any Where Banking (AWB). ICICI Bank shall not be liable for any delay on any account of failure of connectivity. AWB will not be available on the day(s) when the branch where the account holder has his/her Relationship, is closed.

 

7.3 Standing instructions are accepted free of charge for transferring funds from Account(s) to any fixed deposit or recurring deposit accounts. Other standing instructions are subject to applicable service charges.

 

7.4 ICICI Bank in its sole discretion may restrict the number of withdrawals in/ from the Account(s).

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8. Dormant Account


8.1 ICICI Bank may classify an Account as

inactive, if there are no Customer-induced transactions for a period of 12 months in the Account;
Dormant, if there are no Customer-induced transactions for a period of 24 months in the Account.
     i.e no customer-induced transactions for 12 months after the Account had been classified as inactive.
“Customer induced transactions” shall mean ad include any credit or debit transactions done by a Customer in his Account through the following modes: Transactions through cheque;

Cash or cheque deposit;
Withdrawal or deposit through ATM;
Transaction through internet; and
Transaction by standing instruction, ECS and EFT.

 

8.2 ICICI Bank may, in its sole discretion, deny Services and/ or transaction(s) in the Account of a Customer which has been classified as inactive or dormant.

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9. Collection Facility


9.1 Cheques, drafts, bills, dividend / interest warrants and other instruments issued in favor of the Customer are accepted for collection on Customer's behalf. The collection of outstation instruments entails collection charges. ICICI Bank does not accept any responsibility for loss, delay, mutilation or interception of the instruments in postal or courier transit. ICICI Bank does not accept or share any responsibility for delay in realisation of such instruments or for the genuineness, validity or correctness of the signatures or endorsements thereon. The drawals against such instruments are permissible only on realisation or proceeds by ICICI Bank. Any provisional credit allowed at the discretion of ICICI Bank for an instrument under collection is recoverable with interest if the Instrument is returned unpaid. ICICI Bank has right to disallow any drawings against such provisional credit (shadow balance).

9.2 ICICI Bank has the authority to debit the accounts to recover any amount credited erroneously.

9.3 Local cheques, etc., may be tendered for collection sufficiently early in the day as required vis-a-vis the local clearing house timings. Drawals against clearing cheques will be normally permitted only against cleared balances as per applicable clearing house rules.

9.4 In cases where a cheque is returned, the amount in respect of which had already been credited to the Customer's Account and/or in respect of which withdrawal was permitted, ICICI Bank will reverse the credit of such amount and debit the amount equal to the amount of the returned cheque. In such cases, if the Account does not have sufficient funds, the outstanding amount shall be deemed to be a temporary overdraft granted to the Customer and the Customer is bound to repay the amount immediately on demand by the Bank. In debiting the amount as aforesaid, ICICI Bank would debit the amount credited or the INR amount equivalent to the relevant foreign currency denominated cheque whichever is higher. The service charges, premium and other charges as applicable will also be levied by ICICI Bank in such instances.

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10. Charges/Fees


Charges in connection with the operation and maintenance of the Account(s) and the Services would be levied at the rates as prescribed and as updated on the Website from time to time. Charges will be debited to the Account at such intervals as may be deemed fit by ICICI Bank. Charges so collected are rounded off to the nearest INR equivalent, ignoring fractions of a rupee.

ICICI Bank will also have the right to set-off the service charges, charges for non-maintenance of QAB/MAB or any wrong credit or late returns reported by the correspondent bank /counter party by debiting the Account, without requirement of providing further notice or seeking additional consent / authorisation from the Customer. In case balance in the Account becomes overdrawn as a result of such set-off, ICICI Bank will be entitled to charge interest at such rates as ICICI Bank may deem fit in its sole discretion, for the period for which the Account remains overdrawn at any time during the operation and maintenance of the Account. In case of any shortfall in the Account or in the event of closure of the Account, the Customer shall be liable to pay the amount outstanding on account of charges / interest or otherwise to ICICI Bank, forthwith, without demur or protest.

The Customer agrees and confirms that in the event that any of the Services in connection with the Account are or become liable to tax under the applicable laws and regulations, the Customer shall bear all the taxes or duties (by whatever name called) in connection with such Services and ICICI Bank is hereby authorised to deduct any such amount from the Account, without requirement of providing further notice or seeking additional consent/authorisation.

In the event of occurrence of any of the above events, the Customer shall receive balance amounts, net of all deductions made as per the terms and conditions hereof. The Customer shall be intimated at the last registered address provided by the Customer and required to collect all such amounts, from ICICI Bank; in case the Customer does not collect the amounts within the time period stipulated by the Bank in the communication sent to him / her as above, then ICICI Bank shall send the amounts at the last known address of the Customer and will not be liable for any reason whatsoever in case of non-receipt of such amount/s by the Customer or any losses or damages incurred by the Customer as a consequence thereof.

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11. Holiday / Processing


i) Any transactions on any Sunday or any public holiday may be shown/ reflected in the Account, at the sole discretion of ICICI Bank, as having taken place on the same or subsequent business day of ICICI Bank. All deductions/accretions on such amount shall be deducted/ accrued as of such day. ICICI Bank shall not be responsible for any loss of interest or liability incurred/suffered by the Customer including but not limited to return of cheques, loss of interest arising due to such transaction being not shown on the day on which the same actually occurred. The Cheques, / drafts, / pay orders or like deposited on any day which is a Sunday or public holiday or after the time of clearing for that day is normally effected by ICICI Bank and sent for clearing on the next business day.

 

ii) ICICI Bank’s policy on payment of interest on NRE / FCNR term deposits maturing on Saturday/Sunday/Public Holiday: For all NRE / FCNR term deposit(s) maturing on Saturday/Sunday/Public Holiday, these dates will be considered as holiday and all deposits maturing on these days will be paid holiday interest for intervening days at contracted rate if the Customer approaches the Bank on next working day. If the Customer approaches the Bank after the next working day or anytime thereafter, interest will be paid at sthe avings bank rate till the date of claim.

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12. Statement of Account


The Statement of Accounts for each Account (“Statement of Account”) shall be issued & charged on a frequency as determined by ICICI Bank for each Account. Where a passbook is issued against the Account(s), the Customer shall be solely liable for updating the passbook and under no circumstances will the customer be issued a Statement of Account on such Account(s). Unless disputed by the Customer within fourteen (14) days of mailing of the Statement of Account or the date of transaction on the Account (in case of Account(s) with passbook facility ), the same shall be deemed to be accepted by the Customer. ICICI Bank reserves the right to rectify discrepancies in the Statement of Account, if any, at any point of time. If Customer delays examining the Statement of Account / passbook or in reporting a problem or not-error, it may affect ICICI Bank's ability to resolve the problem, and Customer shall be liable for the losses, if any, that may occur as a result thereof.

 

All the Statement of Account(s) will be mailed to Customer's mailing or communication address as per ICICI Bank's records. The passbooks, may be issued at Branches in India only. ICICI Bank shall not be responsible for Statement of Account lost in mail/post or for the loss of Passbook. The Customer should contact ICICI Bank promptly if the Statement of Account is not received and request for duplicate Statement of Account(s), if required. In case of loss of passbook, the Customer shall be liable to contact ICICI Bank for a duplicate copy of the passbook and collect it from the branch in India. Such passbook may be issued to the Customer after recovering appropriate charges including service tax. With the approval or at the request of the Customer, Statement of Account may be sent to the Customer's registered e-mail address. Customers are required to verify the authenticity of the emails received by them and ICICI Bank shall not be liable in the event any Statement of Account(s) are received by the Customers from fraudulent persons / imposters. ICICI Bank shall not be liable in the event of any defects or failure in the computer system / network/ hardware or software of the Customer on account of receipt of emails by the Customer from ICICI Bank. Duplicate Statement of Account(s) are issued at the request of the Customer for a service charge. Ordinarily, duplicate Statement of Account(s) are issued only for a period not exceeding thirty six (36) months prior to date of request.

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13. Payment of Interest


W.e.f. April 1, 2010, interest for all INR denominated savings Accounts will be calculated on the daily closing balances maintained in the Account. W.e.f. May 3, 2011, the interest will be calculated @ 4.0% per annum instead of 3.5% per annum. Interest so calculated is 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. Interest is paid half-yearly in June and December.

There will be no interest paid for NRE and NRO non interest bearing Accounts.
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14. Death or Incompetence
The Customer agrees to notify ICICI Bank promptly if any of the joint Account holders or authorized signatory(ies) of the Account dies or is declared incompetent by a court of competent jurisdiction. ICICI Bank may place a freeze on the Account and stop all operations when any of the joint accountholders or authorized signatory(ies) die or is declared incompetent. ICICI Bank may retain the freeze on the Account until it establishes the identity and credentials of the successor/legal heir/ beneficiary of the deceased Customer to its satisfaction as per its standard policies and procedures.

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15. Nomination
Nomination facility is available for the Account(s) operated in the names of individuals. Only one nominee is permissible for an Account and the nomination is to be made by the Customer duly witnessed by a third person. The Customer should ensure that he/ she gets/ is given the acknowledgement as per the nomination rules framed by RBI. The Customer is at liberty to change the nominee, through a declaration to the Bank, in the appropriate form, to revise the nomination during the currency of the Account with the Bank.

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16. Change of Terms
ICICI Bank shall have the absolute discretion to amend or supplement or vary or any of the Terms at any time. ICICI Bank may communicate the amended, supplemented, varied or modified Terms by hosting the same on its Website or in any other manner as decided by ICICI Bank. The Customer shall be responsible for regularly reviewing these Terms including any amendments, supplements, variations or modifications thereto as may be posted/ updated on the Website from time to time.

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17. Change of communication address
Customer agrees to notify ICICI Bank regarding change in his/her residence/employment address, contact number and registered e-mail ID for communication as stated in the Application Form/ AOF/ Account Opening Form(s) for opening the relationship, and provide any other information that ICICI Bank may require from time to time. In case Customer fails to update the mailing or communication address ICICI Bank disclaims all liability resulting from any loss or damage due to delivery of deliverables like I-kit, cheque book, debit card, internet banking user ID/ password, etc. to the incorrect address.
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18. Non-Transferable and Non-Negotiable
Any Accounts and Services (unless specified otherwise) with the Bank are non-transferable and non-negotiable and no right title interest therein or any part thereof can be transferred or secured by the Customer to or in favour of any person without the prior written consent of the Bank. However, the Bank shall have the right to transfer, assign or sell all its rights, benefits or obligations to any person and these Terms shall continue to be in force and effect for the benefit of the successors and assigns of the Bank. The Bank will as far as practicable give prior notice to the Customer if it intends to transfer, assign or sell its rights, benefits or obligations.

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19. Communication and Notices
The chosen mode of communication between the Customer and the Bank may be as under:
19.1 The Bank shall contact the Customer at the latest address, telephone number or electronic mail address (if any) that has been provided to the Bank by the Customer. The Bank requires to be informed at the earliest, if there is a change in name, any changes in the address or electronic mail address or make any other changes relevant to the Account. The Customer will be responsible for any loss or damage that may occur for not keeping the Bank updated on such particulars.

19.2 Unless requested otherwise, the Bank will contact only the joint account holder named first in the Bank's records subject to any legal and regulatory requirements. The first named account holder is responsible for passing information that the Bank sends to the other account holders.

19.3 In certain circumstances, the Bank may be permitted by the law to allow another person to operate the Customers Account. For security reasons, the Bank may not allow such person, to access some services but where the Bank make these services available, that person may use the Customers security details and such acts shall not be considered as a breach on the security obligations owed by the Bank to the Customer.

19.4 Communications between the Bank and a Customer may be effected through electronic means as follows:

(a) Documents sent by electronic means will contain all the information as printed hard copy version with the possible exception of graphic insertions such as photographs or logotypes.

(b) Electronic delivery may be in the form of an email, an attachment to an email, or in the form of provision of a link to the Website from which a document could be downloaded.

(c) The Bank will be deemed to have fulfilled its legal obligation to deliver to the user any document if such document is sent via electronic means.

(d) If the Customer fails to advise the Bank of any difficulty in opening the document within 24 hours of receiving it, the Bank shall consider this as an acceptance of the document.

(e) ICICI Bank may, with the consent of the Customer, communicate with the Customer through telephone for servicing the existing products availed by the Customer and to offer new products and such communication shall not be in breach of any existing do not call guidelines; as may be applicable in the jurisdiction(s) governing ICICI Bank and the Customer.

(f) General communication of information from the Bank to all Customers as a whole or to any sub-group of Customers may, if the Bank acting reasonably considers it appropriate, be effected by means of publication of a notice on the Website (www.icicibank.com), or by the putting of prominent notices on the Bank’s premises.

(g) Unless otherwise agreed or specified herein, any notice or other communication may be delivered to the Customer personally.

(h) Any writ, summons or other process may be served upon the Customer by posting the same to the Customer' address and the same shall be deemed to be good service upon the Customer. The foregoing shall not however preclude the Bank from effecting service of process in any other manner permitted by law.

ICICI Bank Limited
ICICI Bank Phone Banking Centre
ICICI Bank Towers, Seventh (7th ) Floor,
Survey No. 115/27
Plot No. 12, Nanakramguda, Serilingampally
Hyderabad 500 032,
India

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20. Electronic Transactions
The Customer agrees to adhere to and comply with all such terms and conditions as ICICI Bank may prescribe from time to time, and hereby agrees and confirms that all transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centers, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of ICICI Bank, for and in respect of the Account, or ICICI Bank's other products and services, shall constitute legally binding and valid transactions when done in adherence to and in compliance with ICICI Bank's terms and conditions for such facilities, as may be prescribed from time to time.

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21. Electronic Instructions
The Customer agrees that ICICI Bank shall not be liable for executing any instructions ICICI Bank receives through Telephone, Facsimile or other form of electronic communication. The Customer further agrees to keep ICICI Bank indemnified from and against all claims either by the customer or any other, actions, demands, liabilities, costs, charges, damages, losses, expenses and consequences of whatever nature (including legal fees on a full indemnity basis) and howsoever arising, which may be brought or preferred against ICICI Bank or that ICICI Bank may suffer, incur or sustain by reason of or on account of ICICI Bank having so acted whether wrongly or mistakenly or not, or of ICICI Bank failing to act wholly or in part in accordance with the instructions.

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22. Online Account(s)

22.1 ICICI Bank may, if so requested by the Customer, permit submission of Account Opening Forms(s)/ Application Form(s)/ AOF online through internet banking services provided by ICICI Bank. The customer may login to his/ her secured login page on the Website and apply for an Account(s) online. Any such request for online account opening shall be subject to the Customer providing necessary details in the online Account Opening Form/ AOF/ Application Form along with corresponding identity/ address and verification documents (as required by ICICI Bank from time to time). The Customer may submit the aforementioned Account Opening Form/ AOF/ Application Form and corresponding verification documents along with his/ her signature copy which shall be relied upon by ICICI Bank as due evidence for establishing the relationship and for effecting all authorizations/ instructions from the Customer in relation to such online Account(s). Such Account(s) shall be subject to these Terms and such other disclosures, disclaimers and declarations as the Customer may be required to submit to ICICI Bank online through his/her secured login page on the Website. The Customer hereby agrees to indemnify and keep indemified ICICI Bank (and the Group Companies) for any electronic or other online instructions/ authorizations received from the Customer in relation to the Account(s). The Customer further understands and acknowledges that there are risks involved in sending the instructions and submitting verification documents to ICICI Bank via telephone, email, facsimile, untested telexes and faxes, telegraph, cable or any other form of electronic communication and hereby agrees and undertakes that all risks associated thereto shall be fully borne by the Customer and he/ she/ they shall assume full responsibility for the same; ICICI Bank shall not be liable for any losses or damages arising upon ICICI Bank acting/ relying, or ICICI Bank’s failure to act/ rely, wholly or in part in accordance with such instructions and/ or verification documents. Such indemnity from the Customer shall be in addition to and not in derogation of Clause 23 (Indemnity) hereunder.

 

22.2 The Customer agrees to adhere to and comply with all such terms and conditions as ICICI Bank may prescribe from time to time, and hereby agrees and confirms that all transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centers, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of ICICI Bank, for and in respect of the Account, or ICICI Bank's other products and services, shall constitute legally binding and valid transactions when done in adherence to and in compliance with ICICI Bank's terms and conditions for such facilities, as may be prescribed from time to time.

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23. Indemnity
a) The Customer hereby agrees that the Customer shall, at his/its own expense, indemnify, defend and hold harmless ICICI Bank from and against any and all liability any other loss that may occur, arising from or relating to the operation or use of the Account or the Services or breach, non-performance or inadequate performance by the Customer of any of these Terms or the acts, not-errors, representations, misrepresentations, misconduct or negligence of the Customer in performance of its obligations.

 

b) Under no circumstances shall ICICI Bank be liable to the Customer for any indirect, incidental, consequential, special or exemplary damages in connection with the Account or the Services.

 

c) ICICI Bank shall not be liable for any failure to perform any obligation contained in these Terms or for any loss or damage whatsoever suffered or incurred by the Customer howsoever caused and whether such loss or damage is attributable (directly or indirectly) to any dispute or any other matter or circumstances whatsoever.

 

d) The Customer shall indemnify ICICI Bank as collecting banker for any loss or damage which ICICI Bank may incur or suffer by guaranteeing any endorsement or discharge on a cheque, bill or other instrument presented for collection and such guarantee as given by ICICI Bank shall be deemed to have been given in every case at the Customer's express request.

 

e) The Customer shall keep ICICI Bank indemnified at all times against, and save ICICI Bank harmless from all actions, proceedings, claims, losses, damages, costs, interest (both before and after judgment) and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ICICI Bank in resolving any dispute relating to the Customer's Account with ICICI Bank or in enforcing ICICI Bank's rights under or in connection with these Terms and conditions contained herein, or which may have arisen either directly or indirectly out of or in connection with ICICI Bank performing its obligations hereunder or accepting instructions, including but not limited to, fax and other telecommunications or electronic instructions, and acting or failing to act thereon.

 

f) If any sum due and payable by the Customer is not paid on the due date, including without limitation any moneys claimed under this Paragraph, the Customer shall be liable to pay interest (both after as well as before any judgment) on such unpaid sum at such rate or rates as ICICI Bank may from time to time stipulate from the date payment is due up to the date of payment.

 

g) The Customer shall solely be responsible for ensuring full compliance with all the applicable laws and regulations in any relevant jurisdiction in connection with establishment of his/her Account with ICICI Bank and shall keep ICICI Bank informed about any change in his residential status. The customer shall indemnify and keep indemnified ICICI Bank from all actions, proceedings claims, losses, damages, costs and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ICICI Bank in connection with any failure to comply with any such applicable laws/regulations.

 

h) Without prejudice to the foregoing, the Customer undertakes and agrees to indemnify the Bank on a full indemnity basis against all present and future stamp duties, taxes (but excluding taxation on the Bank's profits), levies, losses (direct or consequential), costs, charges, interest (both before and after judgment) expenses (including legal fees on a full indemnity basis) and other liabilities incurred by the Bank as a result of or in connection with the execution, delivery, registration, performance or enforcement of these Terms or losses and/or damages which the Bank may incur in giving effect to the Customer's instructions, including but not limited to losses, damages, costs, expenses and/or charges arising from:

(i) the operation of the Customer's Account(s) or the provision of Services hereunder;

(ii) any breach of trust or other fiduciary obligation binding on the Customer;

(iii) acting on instructions or orders purportedly given by the Customer or of person or persons who purport to have been authorized by the Customer;

(iv) acting or not acting on the basis of any information or instructions given by the Customer where, in either case, the Bank believes in good faith the information or instructions to be given in breach of any duty imposed on the Customer or in excess of powers vested in the Customer; and

(v) exercising the Bank's rights of set-off, combination, consolidation, lien or any other right. These indemnities constitute a separate and independent obligation from the other obligations contained in these Terms, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by the Bank and shall continue in full force and effect despite any judgment, order, claim or proof for a liquidated amount in respect of any sum due under these Terms, any judgment or order. No proof or evidence of any actual loss may be required.

(vi) Continuing to process all payment/debit instructions until the Bank has received written notice of the demise of the Customer for sole accounts, and the demise of the authorized signatory (ies) for Accounts in the names of a company, partnership firm, trust, association or other entity.

i) The Customer shall indemnify the Bank as collecting banker for any loss or damage the Bank may incur or suffer by guaranteeing any endorsement or discharge on a cheque, bill or other instrument presented for collection and such guarantee as given by the Bank shall be deemed to have been given in every case at the Customer's express request.

j) In the event that the Bank agrees, at its sole discretion, to collect/purchase/negotiate/ discount cheques (including without limitation any USD cheque or cheques drawn on US banks or other financial institutions in the United States of America) drafts, bills, dividend/interest warrants and other instruments issued in favour of the Customer ("Instruments"), in consideration of the Bank agreeing as aforesaid and/or crediting or agreeing to credit the proceeds thereof to the Customer's Account or any account and/or purchasing, discounting, negotiating or agreeing to purchase discount or negotiate Instruments from the Customer, the Customer shall indemnify the Bank against all moneys, liabilities, losses, costs, damages, demands, proceedings, claims and expenses of whatsoever nature (whether actual or contingent) including legal costs on a full indemnity basis paid incurred or suffered by the Bank under or arising from or in connection with the instruments or the enforcement of the rights herein, whether or not the same results from the commission of any breach of contract or duty on the Customer's part or the part of any party to the Instruments and whether or not the Bank shall have any legal right to claim or have availed itself of the Bank's legal remedies against the Customer or any party to the Instruments and notwithstanding that the Bank may have received the proceeds of the relevant Instrument whether on collection or otherwise or paid the proceeds thereof to the Customer or that the Customer has altered the Customer's position after receipt of the proceeds thereof. The Applicable fees and charges for the purchase or collection of foreign currency cheques and other Instruments drawn on overseas accounts shall be as per the Bank’s prevailing standard procedures or as notified by the Bank from time to time.

The indemnities as aforesaid shall continue notwithstanding the termination of the Account.

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24. No Encumbrances
The Customer shall not create or permit to subsist, any encumbrance or third party interest over or against any account(s) with ICICI Bank or any monies lying therein without ICICI Bank's express prior written consent.

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25. Bankers lien and Setoff
a. ICICI Bank shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future, on all the deposits held/ balances lying in any Account of the Customer, whether in single name or joint name(s), to the extent of all amounts payable by the Customer arising as a result of any of ICICI Bank's Services extended to and/or used by the Customer or as a result of any other facilities that may be granted by ICICI Bank to the Customer. ICICI Bank is entitled without any notice to the Customer to settle any indebtedness whatsoever owed by the Customer to ICICI Bank, whether actual or contingent, or whether primary or collateral, or whether joint and/or several, including without limitation indebtedness under any indemnity given by the Customer to ICICI Bank hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and transferring monies lying to the balance of any Account(s) held by the Customer with ICICI Bank, notwithstanding that the deposit(s)/ balances lying in such Account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank's rights hereunder shall not be affected by the Customer's bankruptcy, insolvency, death or winding-up.

 

b. In addition to ICICI Bank's rights of set-off, lien or any other right which it may at any time be entitled whether by operation of law, contract or otherwise, the Customer authorises ICICI Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the Customer with or to any branch or office of ICICI Bank Limited (whether in India or elsewhere) or its Group Companies; and (b) to apply, set-off or transfer at any time (without prior notice to the Customer) any credit balance (whether or not then due) to which the Customer is at any time beneficially entitled (whether singly or jointly) on any Account, in the Customer's name or jointly with any other person, with any branch or office of ICICI Bank Limited (whether in India or elsewhere) or its Group Companies towards the satisfaction of any or all of the Customer's liabilities (whether such liabilities be present or future, actual or contingent, primary or collateral, or several or joint) under the Terms or for the Customer's account(s) or under the terms of any other Services or facilities that may be granted by ICICI Bank to the Customer.

 

c. In respect of a joint Account, ICICI Bank shall be entitled to set-off any sums standing to the credit of such joint Account against the debit balance in other accounts which may be held by one or more holders of such joint Account.

 

d. ICICI Bank shall not be under any obligation to exercise any of its rights under this paragraph.

 

e. The abovementioned rights of ICICI Bank are without prejudice to the obligations of the Customer to pay to ICICI Bank when due all its indebtedness and without prejudice to any other rights that ICICI Bank may have against the Customer for recovery of outstanding from Customer to ICICI Bank.

 

f. ICICI Bank shall be entitled to withhold payments out of the Customer's Account or dishonour the Customer's cheque/ instructions in case any amounts outstanding from the Customer to ICICI Bank are not paid when due.

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26. Governing Law
The laws of India shall govern these Terms. The Parties hereby agree that any legal action or proceedings arising out of the Terms shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of the Terms which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.
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27. Disclosure
27.1 The Customer undertakes and authorises ICICI Bank, its Group Companies to exchange, share or part with all the information, data or documents relating to his/her application to other ICICI Group Companies / Banks / Financial Institutions / Credit Bureaus / Agencies / Statutory Bodies /Tax authorities /Central Information Bureaus/ such other persons as ICICI Bank / its Group Companies may deem necessary or appropriate as may be required for use or processing of the said information / data by such person/s or furnishing of the processed information / data / products thereof to other Banks / Financial Institutions / credit providers / users registered with such persons and shall not hold ICICI Bank Singapore / its Group Companies liable for use of this information.

 

I/ We hereby irrevocably authorise ICICI Bank to extract my/our call records or related information as may have been disclosed by me/ us with/ to any third party service providers in relation to services/ facilities offered to me/us by such third party service providers on account of my/ our existing banking relationship with ICICI Bank.

 

27.2 From time to time, it will be necessary for Customers to supply the Bank with data in connection with the opening or continuation of Accounts or the provision of banking Facilities and Services. Failure to supply such data may result in the Bank being unable to provide any of the above Services or Facilities. It is also the case that data are collected from Customers in the ordinary course of the banking relationship, for example, when Customers write cheques, deposit money or apply for credit. This includes information obtained from credit reference agencies.

 

27.3 The purpose(s) for which Customer data may be used are as follows:

(i) the processing of applications for, and the daily operation of the services and credit facilities provided to Customers;

(ii) conducting credit checks (including without limitation upon an application for consumer credit and upon periodic review of the credit) and data verification;

(iii) assisting other financial institutions to conduct credit checks and collect debts;

(iv) ensuring ongoing creditworthiness of Customers;

(v) designing financial services or related products for Customers' use;

(vi) marketing financial services or related products to Customers;

(vii) determining the amount of indebtedness owed to or by Customers;

(viii) creating and maintaining the Bank's credit and risk related models;

(ix) collection of amounts outstanding from Customers and bills providing security for Customers obligations;

(x) meeting the requirements to make disclosure under the requirements of any law, rule, regulation, order, ruling, judicial interpretation or directive (whether or not having the force of law) applicable to ICICI Bank Limited or (any of its branches) and its agents and affiliates;

(xi) enabling an actual or proposed assignee of the Bank, or participant or sub participant of the Bank's rights in respect of the Customer to evaluate the transaction intended to be the subject of the assignment, participation or sub participation;

(xii) any other purposes permitted by law; and

(xiii) purposes relating to any of the above.

 

27.4 Data held by the Bank relating to Customers will be kept confidential but the Bank may, at its sole discretion, provide such information to the categories of persons set out below. The Customer and/or the Borrower hereby irrevocably authorises the Bank to disclose, as and when the Bank is required to do so by applicable law or when the Bank regards such disclosure as necessary or expedient (including but not limited to disclosures for the purpose of credit review of any account or the Facility of the Customer and the Borrower with the Bank or any ICICI Bank Limited branch whether singly or jointly with others or otherwise), any information relating to the Customer, his account(s) or other assets or credit facilities whatsoever held on the Customer's behalf to:-

 

(i) the head office, affiliates or any other branches or subsidiaries of ICICI Bank Limited;

 

(ii) his auditors, professional advisers and any other person(s) under a duty of confidentiality to the Bank;

 

(iii) vendors, installers, maintainers or service providers of the Bank's computer systems;

 

(iv) any exchange, market, or other authority or regulatory body having jurisdiction over the Bank, its head office or any other branch of ICICI Bank Limited or over any transactions effected by the Customer or the Borrower or for the Customer's or the Borrower's account;

 

(v) any party lawfully authorised by law to make such demand or request;

 

(vi) any person with whom the Bank contracts or proposes to contract with regard to the sale or transfer or sharing of any of its rights, obligations or risks under the Terms;

 

(vii) any person (including any agent, contractor or third party service provider) with whom the Bank contracts or proposes to contract with regard to the provision of Services in respect of the Customer's or the Borrower's account(s) or Facilities (as the case may be) or in connection with the operation of the Bank's business;

 

(viii) any person employed with, or engaged as an agent by, the Bank or its head office or affiliates, including any relationship officers, whether in India or elsewhere, for the purposes of or in connection with interactions with the Customers or providing Services to the Customers or the Borrower's or processing transactions pertaining to the Customers' or the Borrower's Accounts or Facilities;

 

(ix) (to enable the Bank to centralise or outsource its data processing and other administrative operations) to the Bank's head office, its affiliates or third parties engaged by the Bank (whether within or outside Singapore) for any such services/operations;

 

(x) in case of a wire transfer to the beneficiary bank to whom the transfer is being made.

 

(xi) a drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawee;

 

(xii) a person making payment into the Customer's Account (by providing a copy of a deposit confirmation slip which may contain the name of the Customer); (xiii) credit reference agencies and, in the event of default, debt collection agencies;

 

(xiv) any person to whom the Bank is under an obligation to make disclosure under the requirement of any law binding on the Bank or any of its branches; and (xv) any person to whom disclosure may be required by applicable law and regulation.

 

27.5 Any Customer with an account or Service with any branch of ICICI Bank Limited located outside India hereby agrees to provide on a voluntary basis all his/her/its personal and account information and records to the Bank which, together with any information generated or received by the Bank, may be: collected and kept by the Bank (including any agent or subcontractor appointed by the Bank) in any country (as the Bank may consider appropriate) for the purposes of the Bank maintaining its relationship with the Customer and offering or providing services on accounts or investments made with or through the Bank or other future services or products;

used by the Bank to carry out matching procedures whether or not for the purpose of taking adverse action against the Customer(s) or maintain a credit history (whether or not the relationship with the Bank is terminated) for the Bank's present or future reference.
27.6 The Customer and/or the Borrower hereby agrees and consents that the Bank shall be entitled, in connection with the Customer's or the Borrower's application for any Account, Facilities or Services provided by the Bank, or during the course of the Customer's or the Borrower's relationship with the Bank, to obtain and procure information pertaining to the Customer or the Borrower or any of his/ her/ its accounts, legal or financial position from whatever sources available to the Bank.

 

27.7 Data may be transferred overseas pursuant to the provisions of this clause.

The information disclosed pursuant to this clause may be subject to further disclosure by the recipient to other parties in accordance with the laws of the country in which the recipient is located. Such laws may be wider in scope and implemented under less restrictive terms than would otherwise be the case in India due to the difference in applicable laws and regulations.

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28. Closure of the Account
28.1 ICICI Bank reserves the right to close or freeze the Account(s) or to terminate the banking relationship with a Customer, after due notice to the Customer at the Customer’s last known address, without assigning any reasons therefor and without any liability.

 

28.2 Upon closure of an Account, the Customer shall either return all unused cheques or instruments (including bank teller machine cards) to the Bank or satisfy the Bank that they have been duly destroyed, and shall be solely responsible for the consequence of any dishonoured cheque or instrument after the date of closure. To the extent that there is a debit balance, the Customer shall remain liable to pay the amount to the Bank together with interest, and service charges in accordance with the Bank’s prevailing standard procedures. To the extent there is a credit balance, the Bank shall not be obliged to pay interest on the Account after the date of closure but may discharge its entire liability with respect to the Account by mailing to the Customer's last known address a draft or cheque in the currency of the Account without recourse to the Bank as drawer, payable to the Customer's order for an amount equal to the then credit balance in the Account less any deduction for services charges levied by the Bank in accordance with the Bank’s prevailing standard procedures.

 

28.3 Notwithstanding and without prejudice to clause 28.1, in the following circumstances, the Bank may without any liability close/ freeze the Account upon giving to the Customer due notice or no notice at all (if the Bank considers in good faith such abridgment of notice to be necessary or reasonable):


(a) In case of the Customer's failure to comply with any provision of these Terms or to pay to the Bank any sum lawfully due to the Bank for any reason;

 

(b) In case the Bank becomes aware of any bankruptcy, winding, judicial management or insolvency proceedings against the Customer or any resolution or procedure to appoint a receiver or a receiver and manager over any assets of the Customer;

 

(c) In case the Bank becomes aware of the death, insanity or incapacity of the Customer or any signatory;

 

(d) In case the balance in an Account falls below the prescribed minimum (QAB/MAB or its equivalent) as agreed between the Bank and the Customer;

 

(e) In case the Bank receives a direction, recommendation or request from any lawful authority to close the Account or if there is any change in the Bank’s internal policies or business operations that necessitate a suspension of the Account;

 

(f) In case the Account has been conducted in a manner which the Bank considers to be unsatisfactory (including, without limitation, the use of the Account for any unlawful or unethical purpose)

 

(g) In case the Bank receives a direction, recommendation or request from any lawful authority to close the Account or if there is any change in the Bank’s internal policies or business operations that necessitate a suspension of the Account;

 

(h) In case the Account has been conducted in a manner which the Bank considers to be unsatisfactory (including, without limitation, the use of the Account for any unlawful or unethical purpose).

 

28.4 The Bank may suspend an Account for such duration as it considers reasonable, in each case having due regard to the circumstances. As far as practicable, the Bank shall give prior notice and reasons to the Customer for doing so, but shall not be liable for any loss or damage suffered by the Customer as a result of such suspension of the Account, whether before or after the Customer receives notice.

 

28.5 Without limiting the generality of clause 28.4, in the following circumstances, the Bank may suspend an Account with or without notice and/or reasons and for such duration as it considers reasonable, and without being liable for any loss or damage suffered by the Customer as a result:

 

(a) In case any of the documents furnished towards identity and address proof are found to be fake, forged or defective;

 

(b) In case fraudulent, forged, fake cheques or bank drafts or any such instruments are presented, attempted to be cleared or cleared through the Account;

 

(c) In case of the Customer's failure to comply with any provision of these Terms or to pay to the Bank any sum lawfully due to the Bank for any reason;

 

(d) In case the Bank becomes aware of any bankruptcy, winding, judicial management or insolvency proceedings against the Customer or any resolution or procedure to appoint a receiver or a receiver and manager over any assets of the Customer;

 

(e) In case the Bank becomes aware of the death, insanity or incapacity of the Customer or any signatory;

 

(f) In case the balance in an Account falls below the prescribed minimum as agreed between the Bank and the Customer;

 

(g) In case the Bank receives a direction, recommendation or request from any lawful authority to suspend the Account or there is any change in the Bank’s internal policies or business operations that necessitate a suspension of the Account;

 

(h) In case there are no transactions on the Account for such period as the Bank may stipulate, either generally in accordance with its prevailing standard procedures or specifically in any case;

 

(i) In case contradictory instructions in respect of the Account are received by the Bank;

 

(j) Where an Account has more than one signatory, in the case instructions to suspend the Account are received from one signatory or the Bank becomes aware of a dispute between signatories.

 

28.6 In furtherance of the above mentioned, the Customer is advised to intimate ICICI Bank immediately upon any change in relation to his/ her residential status (whether from NRI to resident Indian or vice-versa).

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29. General Powers
Each of the rights, powers and remedies given to the Bank hereunder shall be in addition to all other rights, powers and remedies given to the Bank under these Terms or by virtue of any other security, statute or rule of law or equity.

 

30. No Liability for Loss
30.1 Neither the Bank nor any of its agents, employees or servants shall be responsible or liable in any way for any direct or consequential loss suffered by the Customer, its agents, employees or servants in any of the following situations:

 

(a) as a result of taking or omitting to take any action pursuant to any orders or instructions given or appearing to the Bank (acting in good faith) to have been given by the Customer or its duly authorized representative(s) or any person whom the Bank believes to be the Customer or its duly authorized representative(s), save in the case of wilful default or gross negligence;

 

(b) in respect of the authenticity, regularity, validity or value of any documents handled by the Bank on the Customer's behalf or the correctness of any translation or the interpretation of any terms appearing in any such documents;

 

(c) for any failure to take, or delay in taking, any action required to be taken hereunder in the event that and to the extent that the taking of such action is prevented or delayed by war (whether declared or not and including existing wars), revolution, insurrection, fire, explosion, stoppage of labour, strikes or other disputes with employees, laws, regulations, orders or other acts of any governmental authority, or any other cause whatsoever beyond the Bank's control;

 

(d) for any loss or damage sustained by the Customer resulting directly or indirectly from its reliance on any statement of account or balance confirmation certificate which the Customer has, or is deemed to have, verified to be correct at the time of Account/ relationship opening;

 

(e) if, for any reason beyond the Bank's control, the operation of the Customer's account or the Bank's ability to account to Customer for any monies in the Customer's account is restricted or otherwise affected;

 

(f) if the value of the funds credited to the Customer's account shall diminish due to taxes, deductions, withholdings, imposts or depreciation;

 

(g) if the Customer is unable to obtain payment of funds from its account(s) due to restrictions on convertibility, involuntary transfers, foreign exchange controls, distraints of any character, or any other causes whatsoever which are beyond the Bank's control whether arising in India or in any place in which the Bank has deposited such funds;

 

(h) computer breakdown, mechanical failure or malfunction, interruption of services, cloning or similar duplication of the Customer's cards, any debit, credit, charge card or any other card issued by the Bank ("ICICI Card"), material alteration of withdrawal requests, theft or loss of ICICI Card, disclosure of passwords or other reasons of any kind whatsoever through no fault of the Bank;

 

(i) if the Bank pay on altered cheques and/or forged cheques where the alteration(s) and/or forgery were made possible by use or erasable ink, pens or typewriters or any other equipment with built-in erasure feature or by the use of cheque writers or franking machines where the alteration(s) and/or forgery cannot be easily detected or where the alteration(s) and/or forgery is due to the Customer's negligence;

 

(j) if the Bank refuses to honour any withdrawal request whether over the Bank's counter, through the use of electronic services or by any other means in circumstances where it is legally entitled to do so;

 

(k) the exercise by the Bank of any of the Bank's rights under these Terms;

 

(l) arising out of the Bank honouring orders drawn on, and orders accepted and presented for payment against, any Account (whether or not such Account is in credit) or complying with any other directions given regarding Accounts, which orders, directions and receipts are signed by the Customer or the joint Account holders or in the Bank's good faith determination appear to the Bank to be signed by the Customer or the joint Account Holders;

 

(m) arising out of delays in connection with any security processes performed by the Bank for fraud detection or anti-money laundering purposes or for legal and regulatory compliance; or

 

(n) to the fullest extent permissible, arising out of any diminution in value or performance of securities, properties or other asset where the value or performance is managed or controlled by a third party or is affected by external risk factors not within the reasonable control of the Bank.

 

30.2 Under no circumstances shall the Bank be liable to the Customer for any indirect, incidental, consequential, special or exemplary loss or damages in connection with the Account or the Services.

 

31. Force Majeure
In the event of war, revolution, insurrection, military disturbances, riot, civil commotion or other similar action, strike, lock out, stoppage or restraint of labour, seizure or confiscation of currency or other assets or other governmental action, any imposition of currency exchange control by any government, any act of God, any event outside the control of the Bank, or any implementation of any laws, by-laws, restrictions, regulations, orders or directives imposed by any authority, regulatory body or government, whether or not having the force of law, which in the Bank's opinion hinders or prevents the performance by the Bank of its obligations under these Terms (whether of delivery or payment or otherwise) or any Service or facility (an "event of force majeure"), then the Bank may elect either-

 

(i) to postpone its performance until the event of force majeure no longer has such effect or
(ii) terminate the Account or Service, or take any other action the Bank deems fit, by giving 30 days' notice to the Customer.

 

32. Joint and Several Liability
In the event that the Customer constitutes more than one person, all obligations and liabilities of the Customer under these Terms shall be joint and several for all parties constituting the Customer. Any instructions, authorisations, representations and warranties given or made by the Customer in cases where the Customer constitutes more than one person shall be deemed to be jointly and severally given or made and be binding on all such persons and in the event that conflicting instructions or authorisations are received by the Bank from more than one person, the Bank shall have the right to act on the first set of instructions or authorisations received or on the instructions of all account holders or not to act at all until any difference in the instructions or authorisations between the persons constituting the Customer is resolved to the satisfaction of the Bank.

 

33. Services and facilities offered

The Bank reserves the right, at any time and from time to time, with or without notice, to cancel, withdraw, suspend, vary, change, add to or supplement any of the Services and Facilities offered to Customers hereunder. When new services or facilities are introduced, supplemental terms and conditions governing such services may be introduced and notified to Customers in writing. Unless otherwise provided, the Customer shall be deemed to have accepted and agreed to be bound by such terms and conditions upon utilisation of such Services or Facilities.

 

34. Complaints
If the Customer is not satisfied with the services provided by the Bank, the Customer should either contact the Bank's in accordance with Clause 19 hereto or email to nri@icicibank.com. Please visit the Bank's branch or Website for further details in this regard.

 

35. OFAC and other sanctions
(a) The Customer and/or the Borrower hereby represents to the Bank (which representation shall be deemed to be repeated on each day) that neither the Customer and/or Borrower nor any other person benefiting in any capacity, directly or indirectly, from or in connection with the Account or from the Terms and/or any instruments and/or payments thereunder is a Specially Designated National (SDN) and/or otherwise sanctioned under the sanctions (and related laws) promulgated by the United States (including its Office of Foreign Assets Control's (OFAC)), India, United Nations, European Union, and/or any other country (collectively, the "Sanctions").

 

(b) The Customer agrees that the Bank shall have the unconditional right to refuse to take any action in respect of the Services and facilities and/or any credit (including making any payments) that in the opinion of the Bank may violate/subject it to any Sanctions. The Customer agrees (i) to ensure that the transactions entered into do not violate any Sanctions and (ii) to not avail of the Services or use the proceeds out of or in to the Account in any transaction with, for the benefit or, or for the purpose of financing the activities of, any person subject to any Sanctions, whether directly or indirectly. No action taken by the Bank pursuant to the Account and/ or Services, including processing of any transaction, shall be deemed to be a waiver of any of the Bank’s rights hereunder related to the Sanctions nor shall they act to relieve the Customer of the Customer’s obligations in relation thereto and the Bank shall have the absolute right to take any action in respect of the Account and/ or Services as deemed necessary by it to ensure compliance with the Sanctions.

 

(c) The Customer shall immediately notify the Bank if any Sanctions become applicable to the Account and/ or Services in any manner.

 

(d) The Customer/Borrower hereby agrees to indemnify and hold harmless the Bank, to the fullest extent permitted by applicable law, for all losses and liabilities (including due to claims by a third party), incurred by the Bank as a result of any breach by the Customer of the Customer representations and undertakings contained herein pertaining to the Sanctions and/or due to any action taken by the Bank pursuant to the Sanctions. No action taken by the Bank pursuant to the Account, including grant of the Services, issuance of any financial instruments thereunder or processing of any payments or transactions, nor any action taken by the Customer in relation thereto, shall be deemed to be a waiver of any of the Bank's rights under any provisions of the Services related to the Sanctions nor shall they act to relieve the Customer of the Customers obligations or liabilities in relation thereto.

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36. Outsourcing
The Bank shall have the right to outsource or sub-contract any part of the banking operations to such third party (including but not limited to any party outside India) on such terms as the Bank deem fit in its sole discretion. Such operations shall include but not be limited to cheque clearing, creation, maintenance and archiving of documents and records, card production and mailing, and insertion and mailing of security and user identification codes.
36.2 The Bank will not be responsible for any losses or liabilities which arise as a result of or in connection with any Sanctions, including, without limitation, any act or refusal to act by the Bank as a consequence of any Sanctions, and any action or omission of any correspondent or other intermediary bank and/or any delay in the realisation of cheques deposited. Deposits shall only be made if accompanied by proper supporting documents as required by the Bank, and the Bank shall have such rights as have been specified in these Terms.

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37. ATM Cards
A Customer may be issued an ICICI Bank ATM Card by the Bank at its discretion, if he/she has satisfactorily conducted his/ her Account and/or any other type of account so designated by the Bank to be eligible account(s) for operations through the use ICICI Bank ATM Card. The Customer shall give his/her preference of such account(s) held by him in writing in the Relationship Opening Form/ Account Opening Form for issue of ICICI Bank ATM Card. A Minor's account or an Account in which a minor is a joint account holder, is not eligible for issuance of ICICI Bank ATM Card.

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ICICI Bank’s ATM Card shall be subject to the Terms and Conditions for the issue and use of ICICI Bank ATM Cards, as defined and contained in Section VI hereof.
Notes:
DTAA (Double Taxation Avoidance Agreement)
According to the Finance Bill, 2012 (as amended from time to time), with effect from April 1, 2012, to avail of reduced tax benefits or DTAA on NRO Accounts, it is mandatory for an NRI to provide Tax Residency Certificate (“TRC”).

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Section II - Terms and Conditions Governing Fixed Deposits

 

1. DEFINITION:
1.1 "Customer" shall have the meaning ascribed to it in Section I hereof.

 

1.2 "Cumulative Fixed Deposits" are fixed deposits where interest is compounded quarterly and reinvested with principal amount. In case of FCNR fixed deposit’s the interest is compounded half yearly.

 

1.3 “Deposit Confirmation Advice” shall have the meanis ascribed to it in Section I hereof.

 

1.4 "Maturity Value" shall mean the amount payable to the Customer at the end of the term of the FD subject to deduction of any tax as may be applicable and “Maturity Date” shall mean the date on which such Maturity Value is due.
1.5 "Traditional Fixed Deposits" are fixed deposits where interest is paid at regular intervals, i.e., Quarterly or Monthly, as requested by the Customer/s at the time of creating the fixed deposits. In case of FCNR(B) FD accounts, the interest shall be paid on half yearly basis.
The terms and conditions set out in this Section shall, in addition to Terms (as contained in Section I hereof), apply to fixed deposit Accounts ("Fixed Deposits" or “FD/s”) opened and maintained with the Bank by the Customer, as such Fixed Deposits are made available to the Customer by ICICI Bank (“Fixed Deposit Terms”).

 

2. DATE OF FIXED DEPOSIT:
2.1 The effective date of a Fixed Deposit shall be the date on which the amounts of such deposit placed in the Account are realized by / credited to ICICI Bank. No fixed deposit receipt will be issued in anticipation of realisation of cheque/s in relation to any deposit and will be issued only upon actual receipt of payment / deposit monies in relation to a Fixed Deposit. ICICI Bank reserves the right not to accept the moneys and the right to reject the Customer's application.

 

2.2 In case of FCNR (B) Fixed Deposit funded through foreign currency cheques/ drafts, effective date of such Fixed deposit shall be the date of receipt of such foreign currency cheque/ draft by ICICI Bank.

 

3. FIXED DEPOSIT RECEIPT / DEPOSIT CONFIRMATION ADVICE (the “Advice”):

 

3.1 At the time of placing the Fixed Deposit, if the Customer does not opt for a Fixed Deposit Receipt, a Deposit Confirmation Advice shall be issued by ICICI Bank by default in relation to his/ her Fixed Deposit. In cases where auto renewal or auto closure option is selected by the Customer, only a Deposit Confirmation Advice shall be issued. However, a Fixed Deposit Receipt may be made available to the Customer on specific request(s) and in such cases the Customer cannot opt for auto renewal mode of deposit.

 

3.2 From April 1, 2010 Permanent Account Number (PAN) is mandatory for Non-Resident Indians to avail benefit of lower tax deduction under Double Taxation Avoidance Agreement (DTAA) treaty.

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4. AUTO RENEWAL/AUTO CLOSURE:
4.1 Fixed Deposits are accepted with an option of uto-renewal facility at such periodicity as offered by the Bank and opted for by the Customer.
4.2 In case of overdue fixed deposits eligible for auto renewal as per law and under the Fixed Deposit Terms, savings bank rate of interest will be payable from maturity date or August 22, 2008 i.e. the date of the RBI circular stipulating such payment of interest, whichever is later, up to the date of auto-renewal. This is not applicable for FCNR (B) deposits & RFC deposits.
4.3 For Fixed Deposits being auto renewed, a Deposit Confirmation Advice shall be sent to the communication address of the Customer as available in ICICI Bank records at the time of auto renewal of the Fixed Deposit stating the renewed amount and interest rates applicable at the time of such auto renewal. The Deposit Confirmation Advice shall be sent in electronic format if the Customer has registered for an e-statement facility.

 

5. PAYMENT OF INTEREST ON FIXED DEPOSIT:
5.1 Interest on INR Fixed Deposits is reckoned /paid at quarterly / monthly intervals and at the rate/s applicable as on the value date of opening of such Fixed Deposits, as the case may be, in accordance with the rate fixed by ICICI Bank from time to time as also directives issued by RBI as per applicable laws and regulation.
5.2 The interest on FCNR (B) Fixed Deposits will be calculated on the basis of actual number of days elapsed in a year of 360 days. The method of calculation of interest is as below:
FCNR (B) deposits for one year, the applicable rate without any compounding effect.
In respect to FCNR (B) deposits for more than 1 year, at intervals of 180 days each and thereafter simple interest for remaining actual number of days.
5.3 The interest may be paid either in a lump sum at the time of Maturity Date or it may be paid every half year or every quarter or every month in accordance with the Customer instruction(s) for payment of interest on the Fixed Deposit. Where the interest is to be paid by ICICI Bank in lump sum Maturity Date, the Fixed Deposit shall bear the yearly rate of interest on the Fixed Deposit.
5.4 ICICI Bank does not offer differential interest rate on NRI Fixed Deposits opened by Senior Citizens.

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6. METHODOLOGY OF INTEREST CALCULATION:
6.1 Interest rates are money market (i.e. simple interest) rates for tenors unto 6 months and quarterly compounded rates for tenors of 6 months and above. In case of cumulative FCNR (B) Fixed Deposits, interest rates are calculated at the applicable rate without any compounding effect for Fixed Deposits of up to one year and in respect of Fixed Deposits for more than 1 year, at intervals of 180 days each and thereafter for the remaining actual number of days with compounding effect. However, in case of traditional Fixed Deposits, interest rates are money market (i.e. simple interest) rates irrespective of the tenor of such Fixed Deposit.

 

6.2 The method of calculation on interest on a Fixed Deposit, both traditional and cumulative Fixed Deposits is as under:
For Traditional Fixed Deposits with quarterly payouts, interest is calculated based on annual rates (Simple Interest). However, in case of monthly payouts, interest is paid at a discounted value. For Traditional fixed deposits with quarterly payout, interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for incomplete month on actual number of days. In case of traditional FCNR (B) deposits, interest rates are calculated at the applicable rate without any compounding effect for Fixed Deposits up to one year and in respect of deposits for more than 1 year, at intervals of 180 days each and thereafter for the remaining actual number of days without compounding effect. For Cumulative Fixed Deposits, interest is compounded quarterly on completion of exact quarters. For the remaining period beyond completed quarters, simple interest is calculated on the cumulated deposit amount for remaining number of days. In case of cumulative FCNR (B) deposits, interest is calculated as per Clause 5.2 above.
6.3 In case of premature withdrawal, the interest is calculated on the principal amount for completed quarters (completed half years in the case of FCNR (B) deposits) and then for the balance period, interest is calculated for completed months and further for any incomplete month, on the actual number of days elapsed.
6.4 For the purpose of interest calculation calendar year is taken to consist of 365 days irrespective of whether it is a leap year. In case of FCNR (B) deposits, calendar year is taken to consist of 360 days irrespective of whether it is a leap year.

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7. PREMATURE/PARTIAL CLOSURE OF FIXED DEPOSITS:
7.1 In the event of the Fixed Deposit being closed before completing the original term of such deposit, interest will be paid at the rate applicable on the effective date of such deposit upto the period for which such Fixed Deposit has remained with ICICI Bank. The Fixed Deposit may be subject to applicable premature withdrawal premium as prescribed by ICICI Bank on the effective date of such Fixed Deposit.

 

7.2 For the deposit amount remaining after the part withdrawal from Fixed Deposit, interest rate will be reset as the rate applicable for the amount remaining, for the original tenure, as prevailing on the date of opening of such Fixed Deposit.

 

7.3 In case of the fixed deposit being prematurely closed for the purpose of reinvestment into another scheme of Fixed Deposit, the existing deposit would be subject to premature withdrawal premium as prescribed by ICICI Bank on the effective date of such Fixed Deposit. Interest will be paid for the period the Fixed Deposit has remained with ICICI Bank. The interest rate prevailing on date of re-investment of Fixed Deposit will be applicable for the new deposit.

 

7.4 If NRE & FCNR (B) Account deposits are closed before completion of 12 months from the date of deposit, no interest is payable.

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8. TAX DEDUCTED AT SOURCE:
8.1 Tax shall be deducted at source as per the provisions of Section 195 of Income Tax Act, 1961.
8.2 For NRO Accounts with Traditional Fixed Deposit (with quarterly / monthly interest payment), tax is deductable on each interest payment and on interest accrued on March 31st of every financial year. For NRO Accounts with Cumulative Fixed Deposit, tax is deducted on interest accrued on March 31st of every financial year and on Maturity Date. The tax deducted at source (“TDS”) amount calculated on the accrued interest is remitted to the tax authorities on behalf of the Customer by ICICI Bank. The interest on the TDS amount from April 1st till maturity of the Fixed Deposit is adjusted from the interest payable to the Customer.
8.3 From April 1, 2010 Permanent Account Number (PAN) shall be mandatory for Non-Resident Indians to avail benefit of lower tax deduction under Double Taxation Avoidance Agreement (DTAA) treaty.
8.4 On premature withdrawal of deposits, subject to item 7(d) above, interest will be paid at the rate applicable on the date of deposit for the period for which the deposit has remained with ICICI Bank. The deposit may be subject to penal rate of interest as prescribed by ICICI Bank on the date of deposit.
8.5 All applicants signatures are required for premature / partial closure in case of joint Accounts.

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9. TRANSFER OF DEPOSIT FROM ONE BRANCH TO ANOTHER BRANCH:

 

9.1 The Fixed Deposit may be transferred from one branch of ICICI Bank (with the territory of India) from which it has been issued, to any other branch of ICICI Bank (with the territory of India), on the Customer making an application, at either of the two branches provided that no Fixed Deposit shall be transferred from ICICI Bank to another Scheduled Bank (as defined under applicable RBI and FEMA regulations).
9.2 Every such application shall be signed by the Customer; Provided that in the case of joint holder type deposit, the application may be signed by one of the joint holders, if the accountholder is since deceased.


10. NOMINATION:

10.1 The single holder or the joint holders of the Fixed Deposit Account may, by filing in necessary particulars in the prescribed form at the time of making the Fixed Deposit, nominate any person who, in the event of death of the single or both the joint holders as the case may be shall become entitled to the Fixed Deposit and the payment thereon.
10.2 If such nomination is not made at the time of making the Fixed Deposit, it may be made by the single holder or the joint holders or the surviving joint holder, as the case may be, at any time after the Fixed Deposit Receipt is issued but before its Maturity Date, by means of an application in the prescribed form to the officer in charge of the branch of ICICI Bank from where the Fixed Deposit Receipt/ Advice is issued.
10.3 In the event of death of the Customer holding a Fixed Deposit in respect of which a nomination is in force, the nominee shall be entitled at any time before or after the maturity of the Fixed Deposit to encash the Fixed Deposit. For the aforesaid purpose, the surviving nominee shall make an application to the branch manager of ICICI Bank, supported by proof of death of the Customer.
10.4 If a Customer dies and there is no nomination in force at the time of his / her death, ICICI Bank shall pay the sum due to the deceased Customer, to his / her legal heirs in accordance with ICICI Bank’s standard policies and procedures.
10.5 The amount due / payable to an NRI nominee from the NRO Fixed Deposit Account of a deceased Customer shall be credited to NRO Account of such NRI nominee with an authorised dealer / authorised bank in India.
10.6 Application from a resident nominee for remittance of funds outside India for meeting the liabilities, if any, of the deceased Customer or for similar other purposes, will be forwarded to the RBI for consideration.
10.7 ICICI Bank may allow remittance of funds lying in the NRE /FCNR (B)account of the deceased Customer to his NRI nominee after proper due diligence.

 

11. REPLACEMENT OF LOST OR DESTROYED FIXED DEPOSIT ADVICE/ RECEIPTS:
11.1 If the Fixed Deposit Receipt/ Advice is lost, stolen, destroyed, mutilated or defaced, the person entitled thereto / the Customer may apply for the issue of a duplicate receipt to the branch of ICICI Bank from where such Fixed Deposit Receipt/ Advice was issued.
11.2 Every such application shall be accompanied by a statement showing particulars, such as number, amount and date of the Fixed Deposit Receipt, and the circumstances attending such loss, theft, destruction, mutilation or defacement.
11.3 If the officer in charge of ICICI Bank is satisfied of the loss, theft, destruction, mutilation or defacement of the Fixed Deposit Receipt/ Advice, he/ she shall issue a duplicate receipt on the Customer furnishing an indemnity bond, if so required by ICICI Bank, in the prescribed form with one or more approved sureties or with a bank guarantee: Provided that where the face value or the aggregate face value of the Fixed Deposit Receipt/ Advice lost, stolen, destroyed, mutilated or defaced is INR five hundred (500) or less, a duplicate receipt or receipts may be issued on the Customer furnishing an indemnity bond without any such surety or guarantee: Provided further that where such application is made with respect to a Fixed Deposit Receipt mutilated or defaced, of whatever face value, a duplicate receipt may be issued without any such indemnity bond, surety or guarantee, if the Fixed Deposit Receipt mutilated or defaced is surrendered and the same is capable of being identified as the one originally issued to the Customer.
11.4 A duplicate receipt issued under sub-paragraph-3 above shall be treated as equivalent to the original Fixed Deposit Receipt for all the purposes of this scheme except that it shall not be encashable at a branch of ICICI Bank other than the branch at which such receipt was issued, without previous verification.

 

12. MAINTENANCE OF SUFFICIENT BALANCE:
The Customer shall ensure that there are sufficient funds (or prearranged credit facilities) in the Account which will be used for funding the Fixed Deposit. In case the Account does not have sufficient balance, the application for the Fixed Deposit shall be rejected.

 

13. AUTHORITY TO ICICI BANK:

 

The Customer irrevocably and unconditionally authorizes ICICI Bank to access the Account for creating the Fixed Deposit and to share the Account information in accordance with Clause 27 of the Terms (as contained in Section I hereof) for the purpose of accepting/ executing such requests of the Customers.


14. RECORDS:

All records of ICICI Bank generated by the transactions arising out of booking the Fixed Deposit, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.

 

15. ACCURACY OF INFORMATION:

The Customer undertakes to provide accurate and complete information wherever required and shall be solely responsible for the correctness and completeness of information provided by him/her to ICICI Bank at all times. ICICI Bank shall not be liable for consequences arising out of erroneous information supplied by the Customer. ICICI Bank shall not be liable for any inadvertent not-error, which results in the providing of inaccurate information.

 

16. LIMITATION OF LIABILITY:
ICICI Bank shall under no circumstance be held liable to the Customer if the fixed deposit cannot be booked because of including but not limited to natural calamities, legal restraints, system failure/not-error, or any other reason beyond the control of ICICI Bank. In no event shall ICICI Bank, its Group Companies, affiliates, officers, directors, employees, or agents, be liable to the Customer for any direct, indirect, incidental, special, punitive, or consequential damages whatsoever resulting from any of the following:

 

16.1 If the Customer has breached any of the Fixed Deposit Terms, contained herein or in the Fixed Deposit Receipt/ Advice;
16.2 If the Customer has contributed to or the loss is a result of failure on part of the Customer to advise ICICI Bank within a reasonable time about un-authorised access of or erroneous transactions in the Account; or
16.3 Due to system failure/not-error or where any communications from ICICI Bank are delayed and/or not received by the Customers.


17. OTHER TERMS:
17.1 The Customers shall intimate ICICI Bank forthwith, in writing, of any change in the registered address and contact details, and residential status of the Customer/s.
17.2 All taxes, duties, levies or other statutory dues and charges applicable in connection with the benefits accruing as per the terms of these Fixed Deposits will be recoverable from the Customer.
17.3 ICICI Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future all account/deposits of the Customer/ deposit holder/s with ICICI Bank, whether in single name or joint name(s), to the extent of all outstanding dues to ICICI Bank in accordance with Clause 25 of Section I hereof and these Fixed Deposit Terms. For such purposes, ICICI Bank may at its sole discretion close the Fixed Deposit(s) prematurely and apply a premature withdrawal premium in respect of the same. The lien shall be valid and binding on the Customer / deposit holder and operative until repayment in full of all moneys due to the ICICI Bank from the Customer / deposit holder. The lien conferred on ICICI Bank as recorded and expressed herein shall be irrevocable and shall be a continuing one and shall remain in full force and effect till such time the Customer / deposit holder/s repays/retires all amounts due and payable and remain unpaid to the ICICI Bank in respect of any monies due to ICICI Bank from the Customer / deposit holder/s.
17.4 These terms and conditions are subject to change/modification at the sole discretion of ICICI Bank. ICICI Bank may give notice of any changes either through email address as recorded with ICICI Bank (which will be regarded as being in writing) or in writing by delivering them by hand or by sending them by post to the last address given by the Customer / deposit holder/s or on its website or any other mode as may be deemed fit by ICICI Bank. In addition, ICICI Bank may also publish notice of general nature, which are applicable to all Customer / deposit holders of similar nature on its Website. Such notice will be deemed to have been served individually to the Customer / deposit holder/s. All notices / communication to ICICI Bank should be given in writing and sent by post or delivered to its address indicated in Clause 19 of Section I.
17.5 At the discretion of ICICI Bank and subject to applicable laws, loan against the fixed deposit maybe given to the Customer / depositors, in whose name the Fixed Deposit has been opened and who are authorised to withdraw the deposit, as per original mandate.
17.6 The Customer/s agree that in case of a joint Account having mode of operation as either or survivor / anyone or survivor, anyone of them, as the Account holders, may create a Fixed Deposit by placing a request through branches, ATM, phone banking, internet banking, mobile banking or registered e-mail ID or other channels as made available by ICICI Bank from time to time and subject to such terms and conditions as may be specified by ICICI Bank from time to time. The Customers agree that such a Fixed Deposit shall be created in the name of all the Account holders with mode of operation as either or survivor / anyone or survivor and the Customers shall be bound by the terms and conditions applicable to such Fixed Deposit or to a fixed deposit created by renewing / auto-renewing the same. The Customers also understand that for availing a loan against or for premature termination of such a Fixed Deposit or any fixed deposit created by renewing / auto-renewing the same, written consent of all the Fixed Deposit holders shall be required in the manner specified by ICICI Bank. The Customers shall not raise any dispute / claim against ICICI Bank for creating a Fixed Deposit in the manner specified above and shall keep ICICI Bank indemnified against any loss / harm suffered by ICICI Bank with respect to any dispute / claim raised by anyone of such Account holders or any third party.

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Section II A - TERMS AND CONDITIONS FOR FIXED DEPOSIT THROUGH REGISTERED E-MAIL ID

 

The following terms and conditions apply to and govern creation and renewal/auto renewal of Fixed Deposit (as defined in Section II hereof) through registered email ID online vide the Website (“Online FD Terms”) and shall be in addition to and not in derogation Terms (as defined in Section and I hereof) and the Fixed Deposit Terms (as defined in Section II hereof). In the event of any inconsistency between these Terms read with the Fixed Deposit Terms and these Online FD Terms, these Online FD Terms shall prevail.

 

1. DEFINITION:

 

In these Terms, unless there is anything repugnant to the subject or context thereof, the expressions listed below shall have the following meanings viz.:
1.1 "Account" shall mean operative NRE/ NRO savings account held by the Customer/s with ICICI Bank.
1.2 “Customer” shall include holder/s of NRE/NRO Savings Account with “single”, “Either or Survivor” or “Any or Survivor” as the mode of operation. 1.3 “Cust ID/ Customer ID” shall mean the unique identification code allotted to the Customer by ICICI Bank in relation to the Account.
1.2 "Customer Care" shall mean the Customer care unit of ICICI Bank where the Customer may contact for resolution of his queries or requests by calling on the toll free numbers mentioned on ICICI Bank Website.
1.3 "Facility" shall mean the facility offered by ICICI Bank to the Customer/s to place a fixed deposit including its creation/renewal/auto-renewal request through their Registered e-mail ID’s with ICICI Bank.
1.4 "Service Request Number / SR Number" shall mean the reference number provided by ICICI Bank to the Customer on receipt of fixed deposit creation/renewal/auto-renewal request vide Customer Care from the Customer through his/her Registered e-mail ID.
1.5 “Registered e-mail ID” shall mean such e-mail ID of the Customer/s which has been registered with respect to the Account with ICICI Bank. 1.6 “Website” shall have the meaning ascribed to it in Section I (Terms) hereof.
Capitalised terms defined herein shall have the meaning ascribed to them in the Section I (Terms) and Section II (Fixed Deposit Terms) hereof.

 

2. APPLICABILITY OF THE ONLINE FD TERMS:
These Online FD Terms together with the Terms (as defined in Section and I hereof) and the Fixed Deposit Terms (as defined in Section II hereof) in relation to Facility availed by the Customer, and as accepted by ICICI Bank shall form the contract between the Customer and ICICI Bank, and shall be further subject to such other terms as ICICI Bank may specify from time to time.


3. APPLICATION:
3.1 Only an existing Customer of ICICI Bank may apply for the Facility.
3.2 Fixed Deposit will be created under the same Cust ID of the Account used for funding the Fixed Deposit. Any renewed/ auto-renewed Fixed Deposit placed through this channel shall also be created in the same Cust ID of original Fixed Deposit and in the same name as the original Fixed Deposit.
3.3 To apply for the Facility, the Customer shall be required to send an e-mail from his/her Registered e-mail ID to ICICI Bank at nri@icicibank.com. The e-mail so sent by the Customer making an application for placing / renewing /auto-renewing the Facility should contain such details as specified below and such other details as may be specified by ICICI Bank from time to time. The act of sending an e-mail through the Registered e-mail ID for availing the Facility shall amount to Customer applying for the Facility and agreeing to have read, understood and undertaken to abide by these Online FD Terms.
3.4 Application received for availing the Facility from any other e-mail ID except Registered e-mail ID shall be rejected.
3.5 While applying for the Facility, the e-mail as sent from the Registered e-mail ID should contain the following details:
3.5.1 For application of creation of Fixed Deposit:

 

Details of Account like account number (12 digit savings account number) etc which is required to be debited for placing the Fixed Deposit; Type of Fixed Deposit;
Currency of Fixed Deposit;
Deposit amount;
Option preferred and selected : NRE FD /NRO FD / FCNR (B) FD;
Tenure of Fixed Deposit (Days);
Tenure of Fixed Deposit (Years) (0-10 years);
Tenure of Fixed Deposit (Months) (00/ 03/ 06/ 09 months);
Choice of scheme ( Reinvestment/ Traditional) Interest Payable( Monthly/ Quarterly for NRE and NROFD and half yearly for FCNR (B) deposits);
Account in which Interest is to be credited;
Contact No (Country code + Area Code + Number).
3.5.2 For application of renewal/ auto-renewal of Fixed Deposit:
FD Number to be renewed/auto-renewed;
Months to be renewed/auto-renewed for;
Days to be renewed/auto-renewed for;
Tenure of renewal.
Please note that the details mentioned above do not constitute an exhaustive list and the Customer/s may be required to provide such other details and/or agree to such other additional terms and conditions as may be specified by ICICI Bank from time to time.
3.6 The e-mail so received from the Customer/s through the Registered e-mail ID and the details mentioned therein, thereby applying for the Facility, shall be considered as final and binding against the Customer/s for ICICI Bank to act upon and provide the Facility.
3.7 The Customer should not change his/her Registered e-mail ID after applying and before beginning to avail the Facility. ICICI Bank shall not be liable / responsible to Customer/any third party, for any damage and/or loss occurred /incurred due to Customer’s act of changing Registered email ID. 3.8 Facility for renewal/auto-renewal of Fixed Deposit through registered email ID will not be available to the Customers to whom a Fixed Deposit Receipt has been issued.

 

4. ACKNOWLEDGEMENT OF APPLICATION:
4.1 Once the application for the Facility is received by ICICI Bank from Customer’s Registered e-mail ID, ICICI Bank shall provide acknowledgement receipt of the application through an e-mail to the same Registered email ID within two (2) working days of receipt of application. The acknowledgment mail shall be sent from the following email ID of ICICI Bank: "nri@icicibank.com". ICICI Bank shall have the right to update its email ID from time to time as such details may be updated on the Website.
4.2 The acknowledgment e-mail shall also contain a unique SR Number. The Customer shall be required to mandatorily quote the Service Request (SR) Number in all future communication with ICICI Bank regarding the Facility.
4.3 In the event the application made by the Customer for availing the Facility does not contain full details as required, or has discrepancies, ICICI Bank shall seek clarifications on such details / discrepancies in the acknowledgment mail sent to the Customer. The Customer shall be required to respond from his/ her Registered e-mail ID to the mail from ICICI Bank within one (1) working day of having received the mail. If ICICI Bank does not receive any response to such mail, within one (1) day of its being sent, the application for Facility shall be rejected without any further notice.
4.4 ICICI Bank shall not be liable if due to system failure or technical not-errors the acknowledgment e-mail is delayed and/or not received by the Customer. In the event the Customer does not receive the acknowledgment e-mail within one (1) working day from sending the application e-mail, Customer shall be required to contact Customer Care.

 

5. CONFIRMATION OF FACILITY:
5.1 Customer/s shall receive confirmation e-mail/s from ICICI Bank within three (3) working days after all details have been clarified to ICICI Bank's satisfaction.
5.2 The confirmation e-mail shall contain all the relevant details regarding the Facility.

 

6. CANCELLATION:
6.1 In the event Customer/s intends to cancel the Facility after placing an application for availing the Facility and/or post receipt of the acknowledgment e-mail, the Customer may send a cancellation e-mail from his/her Registered e-mail id within one (1) working day of his/her previous application e-mail sent and/or acknowledgment mail received from ICICI Bank.

 

6.2 On receipt of a cancellation e-mail from the Customer through his/her Registered e-mail ID, ICICI Bank shall proceed with canceling the application for the Facility, provided that the Fixed Deposit has not been created/ renewed/auto renewed and it is within control of ICICI Bank to cancel the same. In the event that it is beyond the control of ICICI Bank, as the fixed deposit has already been created/ renewed/auto-renewed, the Customer shall then be required to be guided by the terms relating to pre mature/partial closure as contained in the Fixed Deposit Terms.
6.3 ICICI Bank shall not be liable if for any reason ICICI Bank is unable to cancel the request for creation/ renewal/auto-renewal of the Facility and/or it does not receive the cancellation mail well within the time for any reason whatsoever.
6.4 In the event, the Customer intends to change any particulars of the Facility as contained in the e-mail sent to ICICI Bank, the Customer will have to first close the existing fixed deposit and apply afresh. Please refer to Clause 7 on “Premature/partial closure of fixed deposits” in the Fixed Deposit Terms for more details.

 

7. REJECTION OF APPLICATION:
7.1 Grant of the Facility is at the sole discretion of ICICI Bank and shall be subject to these Online FD Terms and such other conditions as may be specified by ICICI Bank from time to time and updated on the website. ICICI Bank reserves the right to reject any application made for the Facility without providing any reason whatsoever, in its sole discretion.
7.2 An e-mail shall be sent to the Customer on the Registered email ID confirming the rejection of his/ her application.
7.3 In case the Customer intends to apply for the Facility after his/ her application has been rejected, a fresh application may be made as per these Online FD Terms.
7.4 ICICI Bank may stop / terminate this Facility at its sole discretion without giving any prior notice to you. However, any such termination shall not affect any rights or liabilities accrued or incurred prior to such termination.

 

8. AUTO RENEWAL/AUTO CLOSURE:
8.1 Unless otherwise specified by the Customer, the Facility shall be automatically closed on maturity by crediting the Account of the Customer. The Fixed Deposits renewed through this Facility shall be automatically renewed on maturity for the same term as the original Fixed Deposit at the prevailing rate as specified by ICICI Bank for that period.
8.2 In the absence of NRO savings Account, if an NRO Fixed Deposit created through this Facility is funded from an NRE savings account, the Fixed Deposit shall be kept under auto renewal. If the Customer wishes to close such a Fixed Deposit he/ she will have to first open an NRO savings Account so that the proceeds can be credited therein or provide instructions for the proceeds upon maturity to be paid/ transferred via demand draft/pay order.

 


9. JOINT ACCOUNT:
In the case of a joint Account, the Facility shall be available if the mode of operation is indicated as 'either or survivor' or 'anyone or survivor'. Only the email ID of one of the account holders shall be registered with ICICI Bank for the Facility. The application for creation of Fixed Deposit should be made only through this Registered email ID. Applications received from other email IDs will not be accepted. Instructions (including requests for closure of Fixed Deposit) and other communications in relation to the Facility will be acted upon only if received from the Registered email ID and all correspondence in relation to the Facility will be addressed only to the Registered email ID. All transactions entered into and consequences arising from the availing and use of the Facility shall be binding on all the joint account holders, jointly and severally.

 

10. RECORD:
All records of ICICI Bank generated by the transactions arising out of the Facility, including the name of the Customer, application, time, date and particulars of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.

 

11. LIMITATION OF LIABILITY:
11.1 Unless otherwise specified, all communication from the Customer in relation to the Facility, including instructions, shall be given through his/ her Registered e-mail ID or any other medium/channel enabled by ICICI Bank for the purpose of availing the Facility. The Customer is also responsible for the accuracy and authenticity of the instructions provided to ICICI Bank and/or its Group Companies and the same shall be considered to be sufficient and valid to provide the Facility. ICICI Bank shall not be required to independently verify any instructions received from the Registered e-mail ID of the Customer, and such instructions shall remain effective till such time that the same are countermanded by further instructions received from the Customer's Registered e-mail ID in the manner specified by ICICI Bank from time to time.
11.2 ICICI Bank shall have no liability if it does not or is unable to stop or prevent the implementation of an instruction, which is subsequently countermanded. Where ICICI Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it deems fit.
11.3 ICICI Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and shall have the right to suspend the operation of the Facility if it has reason to believe that the Customer's instructions will lead to or expose ICICI Bank to direct or indirect loss or may require an indemnity from the Customer before continuing to provide the Facility.
11.4 Notwithstanding the aforesaid, ICICI Bank may at its option (with or without notice) decide not to act on any e-mail submission/ intruction, if it inter alia believes such communication to be contrary to law, or intent of the Constituent having illegally accessed or hacked or tampered or having being subject to a virus attack.
11.5 ICICI Bank shall be entitled to consider any communication received from the Registered e-mail ID of the Customer as binding upon such Customer and further be entitled (but not bound) to take any steps relying upon the same and to act upon the same, believing in good faith that such communication is authentic, regardless of the amount of money involved and notwithstanding any not-error in transmission or reception of the communication or any misunderstanding or ambiguity or lack of clarity in such communication.
11.6 ICICI Bank has no obligation to verify the completeness or authenticity thereof of any communication.
11.7 ICICI Bank shall not be liable for any losses or damages which the Customer may suffer as a consequence of ICICI Bank acting in accordance with or in reliance upon, any e-mail instructions/requests, etc. received through Registered e-mail ID of the Customer or otherwise pursuant to the authority conferred herein.
11.8 ICICI Bank shall not be liable if due to system failure and technical not-errors the confirmation e-mail is delayed and/or not received by the Customer.
11.9 The Customer agrees to keep ICICI Bank fully indemnified and saved harmless, at all times, in respect of each and every obligation, liability, loss and damage undertaken or incurred or suffered by ICICI Bank (whether directly or indirectly) under or in connection with the said Facility and also against all demands, actions, suits, proceedings made, filed, instituted against ICICI Bank in connection with or arising out of or in relation to:

 

ICICI Bank acting pursuant to, in accordance with or relying upon any e-mail instructions/requests etc received through Registered e-mai id of the Customer or otherwise pursuant to the request and authority conferred herein and/ or:

 

Any action taken on any unauthorized or fraudulent e-mail instructions/requests etc to ICICI Bank.
This indemnity is without prejudice to ICICI Bank’s other rights, privileges; powers and remedies in law and the provisions of this clause shall survive the termination of the Facility.
The Customer acknowledges and confirms that he/she is/are aware that the e-mail instructions/requests, etc. may not be received properly and may be read by or be known to any unauthorized persons. The Customer further agrees that the transmission through email is liable to unauthorized access, hacking and/or virus attacks and which may destroy the original character and content of the e-mail submission/ instructions, which may inter alias cause ICICI Bank to misunderstand the contents or intent of the e-mail or make the e-mail otherwise ambiguous. The Customer agrees to assume and bear all risks involved in respect of such not-errors and misunderstanding and ICICI Bank shall not be responsible in any manner for the same or breach of confidentiality thereto and shall also not be liable for any claims, loss, damage, cost or expenses and liability arising there from.

 

12. RELIANCE:
12.1 Any instruction, order, direction, request entered using the Registered e-mail ID of the Customer shall be deemed to be an instruction, order, directive, request received from the Customer. All such instructions, requests, directives, orders, directions, provided by the Customer, either through Registered e-mail ID or otherwise, are based upon the Customer's decisions and are the sole responsibility of the Customer.
12.2 The Customer understands that providing an instruction, direction, order, request to ICICI Bank, either through Registered e-mail ID or otherwise, does not guarantee execution of such instruction, direction, order or request. ICICI Bank shall not be deemed to have received any instruction, direction, order, or request electronically transmitted by the Customer until it confirms the receipt of such instruction, direction, order, and request.

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Section III - Terms and Conditions for NRI Account Variants

 

Additional Terms for NRI Low Balance Account
This NRI Variant is available to a Customer subject to the below qualifications:
(i) Customers who hold an NRE / NRO Savings Account and who have an MAB (as defined in Section I hereof) of INR 2000 (two thousand) in such Account, are eligible to choose and avail the benefits of the NRI Low Balance Account.
(ii) Further, the product will be offered to Customers in the following segment:

  • Customers opening account in rural and semi urban branches;
  • Customers falling in the income group (s) as may be specified by ICICI Bank from time to time;
  • Customers from ECR countries; and
  • Customers holding the status of blue collared employees.

The Customer will be offered the product basis his declaration confirming his eligibility for the product.
(iii) The Customer shall maintain the MAB under each account under the Cust ID.
(iv) If the Customer does not meet the eligibility criterion on a continuous basis throughout the duration of holding the NRI Low Balance Account or at such intervals as may be decided and notified by ICICI Bank from time to time, the Customer will be charged for non maintenance of MAB with charges upto INR 250, in addition to applicable service charges if MAB is INR. 1,000 or more but below INR.2,000 and INR 350 plus service tax if balance falls below INR 1000. ICICI Bank reserves the right to revise and update such charges on the Website from time to time notice and such revision shall be deemed to be accepted by the Customer by virtue of his/ her continuing to avail the benefits under the NRI Low Balance Account.
(v) ICICI Bank reserves the right to levy any or all charges towards a Customer's non-maintenance of the MAB in his NRI Low Balance Account. ICICI Bank also reserves the right to terminate the said service for Customers who change their status from NRI to resident. Customers are advised to update their residential status with ICICI Bank upon any change in such status from NRI to resident Indian or vice-versa.
(vi) The terms and conditions applicable to the NRI Low Balance Account shall be in addition to and not in derogation of the Terms (as defined in Section I hereof) and such other applicable terms and conditions in relation to the services/ facilities availed by an NRI customer as made available on the ICICI Website and the terms and conditions mentioned in the relevant Account Opening Form.

 

Additional Terms for NRI PRO Account
This NRI Variant is available to a Customer subject to the below qualifications:
(i) Customers who hold an NRE / NRO Account as per FEMA/RBI guidelines and who have a QAB (as defined in Section I hereof) of INR 1.0 lakh in their NRE / NRO Savings Account or INR 5.0 lakh under their Customer ID are eligible to choose and avail the benefits of the NRI PRO Account.
(ii) The Customer has to maintain the QAB under the same Cust ID.
(iii) If the Customer does not meet the eligibility criterion on a continuous basis throughout the duration of holding the NRI PRO Account or at such intervals as may be decided and notified by ICICI Bank from time to time, the Customer will be charged for non maintenance of QAB charges with upto INR 750.0, in addition to applicable service charges.
(iv) ICICI Bank reserves the right to levy any or all charges towards a Customer's non-maintenance of the QAB in his NRI PRO Account. ICICI Bank also reserves the right to terminate the said service for Customers who change their status from NRI to resident.
(v) The terms and conditions applicable to the NRI PRO Account shall be in addition to and not in derogation of the Terms (as defined in Schedule I hereof) and such other applicable terms and conditions in relation to the services/ facilities availed by an NRI customer as made available on the ICICI Bank website(www.icicibank.com/nri) (“Website”). ICICI Bank reserves all rights to modify/change/alter the terms and conditions of NRI PRO Account without prior notice and such changes shall be deemed to be accepted by the Customer by virtue of his/ her continuing to avail the benefits under the NRI PRO Account. The Customer is advised to stay updated with such terms and conditions from time to time.
(vi) A combination of Customer ID's is not permitted under the NRI PRO Account.
(vii) A Customer eligible for the NRI PRO Account can apply only for a Platinum Debit Card; however, he/ she also has the option to continue with his/ her existing debit card.
(viii) Upon applying for the NRI PRO Account, the Customer shall be eligible to enroll his resident family member(s) (upto a maximum of five (5) Indian resident family members) as his/ her Titanium Privilege Family (as defined in the “Terms and Conditions-Family Banking”, as made available on the www.icicibank.com).
(ix) The Family Banking Form in this regards is required to be completed and submitted in the agreed form, by the Customer only. By applying for the “Family Banking” service, the Customer hereby acknowledges that he / she/they has /have read, understood and accepted and agreed to abide and be bound by the terms and Conditions-Family Banking, as updated on made available on the www.icicibank.com.

 

Additional Terms for NRI PREMIA Account
This NRI Variant is available to individuals Customers subject to the following qualifications:
(i) Customers who, hold an NRE / NRO Account as per FEMA/RBI guidelines and who have a QAB (as defined in Section I hereof) of INR 5.0 lakh in their NRE / NRO Savings Account or INR 25.0 lakh under their Cust ID.
(ii) The Customer has to maintain the QAB under the same Cust ID (including all the savings and term deposits maintained by the Customer under the same Cust ID
(iii) A combination of Customer ID's is not permitted under the NRI Premia Account.
(iv) A Customer eligible for this service can apply only for a World Master Debit Card, however, he/ she has the option to continue with his/ her existing debit card.
(v) Upon applying for the NRI PRO Account, the Customer shall be eligible to enroll his resident family member(s) (upto a maximum of five (5) Indian resident family members). The Family Banking Form in this regards is required to be completed and submitted in the agreed form, by the Customer only. By applying for the “Family Banking” service, the Customer hereby acknowledges that he / she/they has /have read, understood and accepted and agreed to abide and be bound by the terms and Conditions-Family Banking, as updated on made available on the www.icicibank.com.
(vi) The NRI Premia Account has an insurance cover which is provided by the ICICI Lombard General Insurance Company Limited (“ICICI Lombard”). Accordingly, ICICI Bank shall bear no liability whatsoever for any service/offer/product offered by any such third party. ICICI Bank reserves the right to change/remove the insurance benefits without prior notification to the Customer.
(vii) If the Customer does not meet the eligibility criterion on a continuous basis throughout the duration of holding the NRI PRO Account or at such intervals as may be decided and notified by ICICI Bank from time to time, the Customer will be charged for non maintenance of QAB charges with upto INR 750.0, in addition to applicable service charges.
(viii) ICICI Bank reserves the right to levy any or all charges towards a Customer's non-maintenance of the QAB in his NRI Premia Account. ICICI Bank also reserves the right to terminate the said service for Customers who change their status from NRI to resident.
(ix) The terms and conditions applicable to the NRI Premia Account shall be in addition to and not in derogation of the Terms (as defined in Schedule I hereof) and such other applicable terms and conditions in relation to the services/ facilities availed by an NRI customer as made available on the ICICI Bank website(www.icicibank.com/nri) (“Website”). ICICI Bank reserves all rights to modify/change/alter the terms and conditions of NRI Premia Account without prior notice and such changes shall be deemed to be accepted by the Customer by virtue of his/ her continuing to avail the benefits under the NRI Premia Account. The Customer is advised to stay updated with such terms and conditions from time to time.
Terms and conditions applicable to the insurance cover provided to NRI PREMIA Customers
(i) Free insurance cover will be valid from the date of activation of NRI PREMIA Account in ICICI Bank. This cover will remain valid till the Customer remains an NRI PREMIA Customer.
(ii) The insurance cover would initiate only from the date of NRI PREMIA Account activation.
(iii) Account activation will be defined by ICICI Bank.
(iv) For loss of baggage, delay in check-in of baggage and loss of documents, insurance cover will be applicable only if the loss arises in India
(v) Claims will be settled only through reimbursements and only on receipt of original bills by ICICI Lombard.
(vi) The delay in checked in baggage is valid only if the delay exceeds more than 12 hours of the scheduled departure.
(vii) Lost card liability - covers loss occurring 2 days pre and 7 days post reporting, and only on retail transactions.
(viii) This cover is applicable only in India and does not include any liability arising due to gross negligence by the insured.
(ix) Accidental hospitalization - covers medical expenses arising due to an accident when the person is in India. This cover is applicable only when the hospitalization is for minimum 48 hours.
(x) Free tickets - covers only immediate family members i.e. parents and/or spouse & children. Fare on these travels will be reimbursed by ICICI Lombard only on presentment of original tickets and the boarding pass
(xi) Reimbursement of the NRI (applicant) will be done only in cases when the applicant is required to visit his/her dependents (insured) who has been hospitalized due to specified medical emergencies -Stroke, Heart Attack (MI), Coronary Artery Bypass, Graft Surgery, Kidney Failure, End-stage Renal Failure, End-stage Liver Disease and Brain Tumor Surgery.
(xii) For the purpose of insurance cover, the Customer's personal information (as provided by him/her during the account opening process) and account number will be shared with the insurance provider. This will be used to verify the Customer identity in case of any claims. The said information will be shared after taking the consent of the Customer and would be used for purpose of issuance of policy.
(xiii) Due to regulatory restrictions in certain countries and due to ICICI Bank's policies, insurance cover can not be provided in all geographies. Depending on Customer's current or permanent country of residence free Insurance cover might not be available to the Customer. In permitted countries and subject to fulfillment of other eligibility criteria, the insurance cover is available solely at the request of the Customer and if so requested, personal details of the Customer will be shared with the insurance provider to verify the Customer identity in case of any claims.
(xiv) A. Please note the following:

B. Contact details & documentation requirements for claiming Insurance:

a. For policy details or for lodging a claim, the Customer may call ICICI Lombard call centre no. +91 22 3983 9443, or you can also write at: RETAIL CLAIMS
ICICI LOMBARD General Insurance Company Limited
4th Floor, Interface 11
Malad Link Road, Malad (W)
Mumbai – 400 064
b. ICICI Lombard shall intimate the claimant about the documentation requirements for making a claim.
c. ICICI Lombard's Customer service department shall decide the admissibility of any claim only after receiving the requisite documents and the investigation report, if any, as applicable.
d. On admissibility, the payment will be made. The payment as per the policy terms and conditions will be made within fifteen (15) days after receipt of all complete documents from the Customer. However, in case, the documents are not received from the customer within ninety (90) days of intimation, the claim would be closed.
C. General Exclusions:
No indemnity is available hereunder and no payment will be made by the ICICI Lombard for any claim caused directly or indirectly by, on the basis of, or arising out of or howsoever attributable to any of the following:
Suicide, attempted suicide or self-inflicted injury or illness;
The influence of intoxicating liquor or drugs;
Any deliberate or intentional, unlawful or criminal act, not-error, or omission on the part of the insured;
War (whether declared or not), civil war, invasion, act of foreign enemies, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrest, restraint or detainment, confiscation or nationalization or requisition of or damage by or under the order of any Government or public local authority;
Engaging in aviation or ballooning, whilst mounting into, dismounting from or travelling in any balloon or aircraft other than as a passenger (fare-paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world;
Participation as driver, co-driver or passenger of a motor vehicle during motor racing or trial runs and as pilot or co-pilot of an aircraft/helicopter;
Travelling in helicopters or private jets;
Participation in any naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy, whether foreign or domestic;
Gross negligence of the part of the insured.
If ICICI Lombard asserts that a claim is not covered by this policy by reason of any of these exclusions, the onus of proving that such claim is indeed covered shall lie upon the insured Customer.

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NRI Edge Account

 

NRI Edge product is getting discontinued with immediate effect and will not be available for new customers.
The existing EDGE customers can continue to avail the benefits of the product till Jul 31, 2014. Existing customers have a choice to apply for NRI regular/PRO/PREMIA. EDGE terms and condition shall be valid for existing EDGE customer's till 31st July 2014.
After 31st July 2014, existing customers will be re-graded to regular NRI account and existing benefits of NRI Edge account would be withdrawn. Post-downgrading, the Customer shall have an option to continue availing the existing platinum debit card subject to an annual charge as applicable. The Customer shall also have an option of applying for any of debit card variants which will be subject to annual charge as applicable for the variant.
This offer is available only to individuals (hereinafter, "customers") who are eligible to hold an NRE Account as per FEMA/RBI guidelines.
This service is available to customers who have an average quarterly balance of INR 1 lac in their NRE / NRO Savings Account or INR 3 lac under their Cust ID.
The customer has to maintain the balance in the same customer ID.
A combination of customer ID's is not permitted.
A customer eligible for this service can apply for a platinum debit card.
The insurance cover is provided by ICICI Lombard General Insurance Company Limited. ICICI Bank will bear no liability for any service/offer/product offered by any third party.
ICICI Bank reserves the right to change/remove the insurance benefits without prior notification to the customer.
If the account holder(s) do not meet the required eligibility criteria on a continuous basis or as decided from time to time, his/her account status will be changed to regular NRI, and NRI Edge benefits will be withdrawn without any notice. The customer will be informed about the change in status through an e-mail on the e-mail address provided at the time of opening the account as per the bank's records.
ICICI Bank reserves the right to levy any or all charges towards a customer's non-maintenance of the quarterly average balance in his account. ICICI Bank also reserves the right to terminate the said service to those customers who change their status from NRI to resident.
ICICI Bank reserves all rights to modify/change/alter the terms and conditions of this service without prior notice and such changes will be deemed to be accepted by the customer.


Terms & Conditions for Account for Insurance

 

i) Free insurance cover will be valid from the date of activation of NRI PREMIA Account in ICICI Bank. This cover will remain valid till the Customer remains an NRI PREMIA Customer.
j) The insurance cover would initiate only from the date of NRI PREMIA Account activation.
k) Account activation will be defined by ICICI Bank.
l) For loss of baggage, delay in check-in of baggage and loss of documents, insurance cover will be applicable only if the loss arises in India.
m) Claims will be settled only through reimbursements and only on receipt of original bills by ICICI Lombard.
n) The delay in checked in baggage is valid only if the delay exceeds more than 12 hours of the scheduled departure.
o) Lost card liability - covers loss occurring 2 days pre and 7 days post reporting, and only on retail transactions.
This cover is applicable only in India and does not include any liability arising due to gross negligence by the insured.
p) Accidental hospitalization - covers medical expenses arising due to an accident when the person is in India. This cover is applicable only when the hospitalization is for minimum 48 hours.
q) Free tickets - covers only immediate family members i.e. parents and/or spouse & children. Fare on these travels will be reimbursed by ICICI Lombard only on presentment of original tickets and the boarding pass.
r) Reimbursement of the NRI (applicant) will be done only in cases when the applicant is required to visit his/her dependents (insured) who has been hospitalized due to specified medical emergencies -Stroke, Heart Attack (MI), Coronary Artery Bypass, Graft Surgery, Kidney Failure, End-stage Renal Failure, End-stage Liver Disease and Brain Tumor Surgery.
s) For the purpose of insurance cover, the Customer's personal information (as provided by him/her during the account opening process) and account number will be shared with the insurance provider. This will be used to verify the Customer identity in case of any claims. The said information will be shared after taking the consent of the Customer and would be used for purpose of issuance of policy.
t) Due to regulatory restrictions in certain countries and due to ICICI Bank's policies, insurance cover can not be provided in all geographies. Depending on Customer's current or permanent country of residence free Insurance cover might not be available to the Customer. In permitted countries and subject to fulfillment of other eligibility criteria, the insurance cover is available solely at the request of the Customer and if so requested, personal details of the Customer will be shared with the insurance provider to verify the Customer identity in case of any claims.
u) Please Note :
Contact details & Documentation Requirement for Claiming Insurance:
a. For policy details or for lodging a claim, the customer may call ICICI Lombard call centre no. +91 22 3983 9443, you can also write at Retails Claim ICICI LOMBARD GIC
4th Floor, Interface 11
Malad Link Road, Malad (W)
Mumbai – 400 064
b. ICICI Lombard (IL) would intimate the claimant about the documents requirement.
c. ICICI Lombard's Customer service department to decide the admissibility of any claim after receiving the documents and investigation report, if applicable.
d. On admissibility, the payment will be made. The payment as per the policy terms and conditions will be made within 15 days after receipt of all complete documents to the customer.
e. In case, the documents are not received form the customer within 90 days of intimation the claim would be closed.
General Exclusions:
No indemnity is available hereunder and no payment will be made by the insurance company for any claim caused directly or indirectly by, on the basis of, arising out of or howsoever attributable to any of the following:

 

Suicide, attempted suicide or self-inflicted injury or illness
The influence of intoxicating liquor or drugs
Any deliberate or intentional, unlawful or criminal act, not-error, or omission on the part of the insured
War (whether declared or not), civil war, invasion, act of foreign enemies, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrest, restraint or detainment, confiscation or nationalization or requisition of or damage by or under the order of any Government or public local authority.
Engaging in aviation or ballooning, whilst mounting into, dismounting from or travelling in any balloon or aircraft other than as a passenger (fare-paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world.
Participation as driver, co-driver or passenger of a motor vehicle during motor racing or trial runs and as pilot or co-pilot of an aircraft/helicopter.
Travelling in helicopters or private jets
Participation in any naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy, whether foreign or domestic.
Gross negligence on the part of the insured.
If the insurance company asserts that a claim is not covered by this policy by reason of any of these exclusions, the onus of proving that such claim is indeed covered shall lie upon the insured.


Section IV - Terms and Conditions for NRE Recurring Deposits

There terms and conditions for recurring deposits shall be in addition to and not in derogation of the Terms (as defined in Section I hereof). Capitalised terms used herein, unless defined, shall have the meaning ascribed to them in Schedule I (Terms) hereof.

DATE OF NRE RECURRING DEPOSIT
The effective date from which the credit shall be given for any installment shall be the date on which ICICI Bank gets/ sights clear funds in the Account of the Customer, as received from the Customer.
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INSTALLMENT AMOUNT
The minimum core Installment to be deposited by the Customer for opening an NRE Recurring Deposit is INR 5000/- and thereafter in multiples of INR 1000/-. The maximum installment amount is INR 100,000/- The Customer shall, at the time of opening the NRE Recurring Deposit Account, stipulate the installment and the total number of installments to be payable. The installment and the number of installments cannot be altered subsequently.

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PAYMENT OF INSTALLMENT
NRE Recurring Deposits installments have to be paid by the Customer vide standing instructions being provided for making of debits from the Customer’s ICICI Bank NRE Savings Account only. ICICI Bank will not be responsible for informing/ advising the Customer to maintain adequate balance in his NRE Savings Account to pay his installments. Installment for any calendar month must be paid on or before the last working day of that particular calendar month. The funds deposited on a date following the non-payment of the Installment for the previous month(s), shall first be appropriated towards the un-paid Installment.

 

In case of delay in payment of any installment, the Customer shall be liable to pay interest at the rate of INR 12.0 per INR 1000.0 or part thereof or such other rate as may be specified by ICICI Bank for the period of delay. Fraction of a month will be treated as full month for the purpose of calculating such interest. The total interest so chargeable to the Customer shall be recovered from the total amount of interest payable by ICICI Bank at the time of maturity or at the time of next deposit of installment, whichever is earlier.

 

DURATION OF NRE RECURRING DEPOSIT
An NRE Recurring Deposit can be maintained for a minimum tenure of 1 year and thereafter in multiples of 3 months subject to a maximum of 10 years.

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PAYMENT OF INTEREST ON RECURRING DEPOSIT
Interest on the NRE Recurring Deposits is calculated at quarterly intervals, at the applicable rates as communicated to the Customer at the time of NRE Recurring Deposit Account opening and in the statements of account. Such interest rates shall be in accordance with RBI directives from time to time. The interest amount shall be paid to the Customer on the Maturity Date (defined below) of the NRE Recurring Deposit or on completion of the Tenure, whichever is later.

 

MATURITY DATE
The NRE Recurring Deposit will mature for payment on the date as has been pre-specified at the time of opening such account or 30 days after the last installment is paid, whichever is later (the “Maturity Date”). The maturity proceeds will be credited to the NRE Savings Account of the Customer. ICICI Bank shall not be liable to make payment of any interest or other amounts on and from the Maturity Date of the NRE Recurring Deposit.
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REPAYMENT BEFORE MATURITY
If an NRE Recurring Deposit is closed or discontinued for any reason before the Maturity Date (as defined above) (other than upon death of Customer), the amount of installments already paid shall be paid together with the interest calculated on simple interest basis on monthly installments at the interest rate applicable at the time of opening the ICICI Bank NRE Recurring Deposit and for the period for which the ICICI Bank NRE Recurring Deposit has been continued minus premium, if any. NRE Recurring Deposits closed before completion of 12 months will not earn any interest.

 

CLOSURE OF ACCOUNTS
An NRE Recurring Deposit Account will normally be closed upon payment of all the stipulated number of installments. The deposit amount together with interest shall be paid to the Customer by a pay order or by crediting the sum to the Customer’s or in case of Joint Accounts, the Primary Applicant’s ICICI Bank Savings Bank Account as specified in the Account Opening Form(s).

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Section V - TERMS AND CONDITIONS FOR RUPEE PLUS PLAN (“RPP’) EFFECTIVE FROM 22-11-08

These terms and conditions (“RPP Terms”) apply to and regulate the operation of the Rupee Plus Plan (“RPP”) offered by ICICI Bank to the Customers. These RPP Terms shall be in addition to Terms (as defined in Section I hereof) and any other additional terms as stipulated by ICICI Bank from time to time. In case of any inconsistency between the RPP Terms and the Terms, the RPP Terms shall prevail.
1. Definitions
In these terms and conditions, the following words and phrases have the meaning stated hereunder unless indicated otherwise:

 

1.1 “Request Letter” refers to the relationship form for RPP.
1.2 "Customer" shall have the meaning ascribed to it in Schedule I hereof and shall include the details whereof are as specified in the Request Letter from time to time which expression shall mean and include any heirs, successors or administrators of the Customer or any liquidator or receiver appointed in respect of the Customer.
1.3 “Quarter” shall mean a financial quarter i.e. April – June, July – September, October – December, January – March in any financial year.
1.4 "Services" shall mean the services provided by ICICI Bank in connection with the RPP and more particularly described in these RPP Terms.
1.5 "Website" refers to the website owned, established and maintained by ICICI Bank at the www.icicibank.com.
2. Interpretation
2.1 All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
2.2 Words importing any gender include the other gender.
2.3 Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
2.4 All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these RPP Terms.
2.5 Words “ICICI Bank”, “the Bank”, refer ICICI BANK LIMITED, a company incorporated under the Companies Act, 1956 and licensed as a bank under Banking Regulation Act, 1949 and having its Registered Office at Landmark, Race Course Circle, Vadodara - 390 007, India and Corporate Office at ICICI Bank Towers, Bandra -Kurla Complex, Mumbai-400 051.
3. Applicability of RPP Terms
These RPP Terms forms the contract between the Customer and ICICI Bank. The Customer shall apply to ICICI Bank in the prescribed form or Request letter for operation of the RPP and availing of the related Services. By applying for RPP, the Customer acknowledges that he / she has /have read understood and accepted these RPP Terms.
4. The Customer through the Request Letter (issued at behest of the Customer from time to time) requests ICICI Bank to open a USD/GBP/EUR FCNR deposit for USD/GBP/EUR equivalent (the “Deposit Amount”) as mentioned in the Request Letter for a period of 1 year 1 day (the “RPP Deposit”) and book a forward contract/deal/arrangement for conversion of the Deposit Amount together with accrued interest payable to the Customer after appropriate reductions, if any, into INR upon maturity subject to the RPP Terms set out herein.
5. The Customer authorizes ICICI Bank from time to time to book this forward contract/deal, at the rate as may be determined by ICICI Bank, which shall be binding on the Customer in accordance with the Request Letter.
6. The details of maturity amount in USD/GBP/EUR booked under forward arrangement, RPP and forward rate would be advised to the Customer through a confirmation letter. On issuance of such a confirmation letter the booking of the RPP under forward arrangement /contract on behalf of the Customer shall be treated as complete and the Customer would be bound by the terms of the confirmation letter along with the RPP Terms and other applicable terms. The confirmation letter would be the prima facie evidence for the acceptance of the terms of the RPP booked by ICICI Bank on behalf of the Customer.
7. In case the Customer receives an amount less than the forward contract amount on account of any contingency like interest variation, applicable charges or any other reason, the Bank will be obliged to sell to the Customer actual amount received by him. The Customer has to bear any loss or cost incurred by the Bank on account of such reduced receipt from his FCNR deposit.
8. The Customer should not book any forward contract/arrangement in respect of the Deposit Amount with any other bank /other person. The Customer shall utilize the exchange received exclusively for the transaction contemplated.

9. The transaction contemplated under this arrangement is/shall be in accordance with the prevalent EXIM Policy, FEMA Regulations and other applicable laws.

10. The Customer shall quote the Request Letter number on the date of maturity of the Deposit and shall submit the confirmation letter, the RPP terms and other required documents (the “Documents”) to ICICI Bank after which the purchase and sale transaction contemplated under forward arrangement and RPP shall be completed.

11. Please note that the Service Tax Rules (1994) have been amended by Ministry of Finance (Govt. Of India) vide Notification No. 26/2011 – Service Tax, on 31st March, 2011. Consequently, w.e.f. April 1, 2011 (as amended from time to time), ICICI Bank will levy the revised service tax on all transactions wherever currency conversion is involved including the converted gross INR amount of the maturity proceeds. Please click here to know the slabwise service tax structure.

12. No premature closure of the Deposit or reversal/cancellation of the sale and purchase of exchange shall be acceptable except in case of extreme emergency at the sole discretion of the ICICI Bank.

13. Cancellation charges and all the exchange loss and all other losses/expenses whatsoever that may arise on account of such reversal/cancellation shall be borne by the Customer.

14. RPP is subject to FEMA, FEDAI (Foreign Exchange Dealer’s Association of India) & RBI rules and regulations.

15. These RPP Terms are governed by and construed in accordance with the laws of India. Any legal action or proceedings arising out of under RPP shall be brought in the exclusive jurisdiction of the courts or tribunals at Mumbai in India and the Customers hereby submit to such exclusive jurisdiction. ICICI Bank may, however, in its absolute discretion commence any legal action or proceedings arising out of this Agreement in any other court, tribunal or other appropriate forum, and the Customer hereby consents to that jurisdiction.

16. Customer agrees to treat the Documents (as defined above) as a conclusive evidence, and not dispute the validity, accuracy or authenticity of, RPP Documents or any evidence of its instructions and communications transmitted between the Customer and the Bank, including such evidence in the form of the Bank’s computer records or transaction logs, magnetic tapes, cartridges, computer printouts, copies of any communication, any written statement by the Bank confirming the posting of any notice or communication, or any other form of information storage.
18. Customer further agrees and undertakes that all such records shall be binding upon him and that Customer will not be entitled to dispute the validity or authenticity of the same. Subject to the applicable laws of evidence, the Bank and Customer agree not to object to admission of the records (including computer records) of the other as evidence in legal proceedings.


19. By applying for this RPP product, the Customer hereby accepts and understands to have read these terms & conditions as mentioned herein and made available on the Website.

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Section VI - Terms and conditions for the issue and use of ICICI Bank ATM CardsMeaning of certain terms:
The term "Bank" or “ICICI Bank” refers to "ICICI Bank Ltd.", "ATM" refers to the Automated Teller Machines installed by the Bank and the facilities and/ or services thereto offered to a Cardholder in relation to use and operation of such ATM shall be the “ATM Facilities”, "Card holder" refers to an Account who has been issued an ICICI Bank ATM Card. Capitalised terms used herein, unless defined, shall have the meaning ascribed to them in Schedule I (Terms) hereof.

 

These ATM terms shall be in addition to Terms (as defined in Section I hereof) and any other additional terms as stipulated by ICICI Bank from time to time. In case of any inconsistency between the ATM terms and the Terms, the ATM terms shall prevail.

 

ICICI Bank ATM Card Issuance
A Customer may be issued an ICICI Bank ATM Card by the Bank at its discretion, if he/she has satisfactorily conducted his/ her Account or any other type of account so designated by the Bank to be eligible account(s) for operations through the use of ICICI Bank ATM Card to avail the ATM Facilities. The Cardholder shall give his/her preference of such account(s) held by him in writing in the Relationship Opening Form/ Account Opening Form for issue of ICICI Bank ATM Card. A Minor's account or an account in which a minor is a joint account holder, is not eligible for issuance of ICICI Bank ATM Card.
There may be more than one such account in which case one account shall be designated as "Primary Account", and the others as "Secondary Account 1" and "Secondary Account 2" at the option of the Cardholder.

 

ICICI Bank ATM Card: ICICI Bank ATM Card shall be issued to an approved Account holder in respect of his Account to enable him to operate the ATM and avail the ATM Facilities.

 

ATM-Facilities:
The ATM Facilities offered under ATM terms will include withdrawal of cash by the Cardholder from his Account up to a stipulated amount limit only during a cycle of 24 hours, deposit of cash and cheques in the Account, enquiry about the balance in the account(s), cash/cheque deposits, requisition for a statement of Account, request for changes to PIN number, request for issue of cheque-books, request for transfer of amount from the Primary Account to the Secondary Account(s) or vice-versa and such other facilities as the Bank may decide to provide, from time to time.

 

Minimum Balance in Primary Account:
The Cardholder shall maintain, at all times, such minimum balance in his Account, as the Bank may decide from time to time and the Bank may at its discretion levy such premium or service charges as per the Bank's rules from time to time, or withdraw the ATM Facilities, if at any time the amount of deposit falls short of the required minimum as aforesaid, without giving any further notice to the Cardholder(s) and/or without incurring any liability or responsibility whatsoever by reason of such withdrawal.

 

Fees:

Currently, the ATM card is issued free of cost to Cardholders who are customers of ICICI Bank. Also, no charges are levied for transactions made through the ATM. However, the Bank reserves the right to charge fees for the ATM Facilities in future with prior intimation to Cardholders.

 

Bank's Lien:
The Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Cardholder's Primary Account and/or, Secondary Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the ATM Facilities extended to and / or used by the Cardholder.

 

i. The Bank and its Group Companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any accounts of the Cardholder/s, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of The Bank and/or its Group Companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the Cardholder/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of any of The Bank's or its Group Companies’ services extended to and/or used by the Cardholder/s and/or as a result of any other facilities that may be granted by the Bank and/or its Group Companies to the Cardholder/s. The Bank and/ or its Group Companies are entitled without any notice to the Cardholder/s to settle any indebtedness whatsoever owed by the Cardholder/s to The Bank and/or its Group Companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the Cardholder/s with The Bank and/or its Group Companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. The Bank's and its Group Companies’ rights hereunder shall not be affected by the Cardholder/s’ bankruptcy, death or winding-up. It shall be the Cardholder/s’ sole responsibility and liability to settle all disputes/ objections with any such joint account holders.

ii. In addition to the above mentioned right or any other right which the Bank and its Group Companies may at any time be entitled whether by operation of law, contract or otherwise, the Cardholder authorises the Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the Cardholder with or to any branch of The Bank and/or its Group Companies; (b) to sell any of the Cardholder/s’ securities or properties held by the Bank by way of public or private sale without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to The Bank and/or it Group Companies from the Cardholder/s, including costs and expenses in connection with such sale; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of the Bank and/or its Group Companies.

 

Multiple Cards:
In case of joint account(s) Either or Survivor /anyone or Survivor where more than one person has been issued ICICI Bank ATM Card, all the Card-holders put together, shall withdraw only upto the permissible limit allowed to single card account(s), within the cycle time of 24 hours.

 

Joint account:
In case of joint accounts where only one card is issued to a joint account holder, the other joint account holder(s) shall expressly agree with and give his/her consent on the Account Opening Form / Relationship opening Form for issue of ICICI Bank ATM card. In case any of the joint account holder(s) gives "stop payment stop transactions" instructions in respect of operations through the use of ICICI Bank ATM card, on any of the accounts held jointly by them, no operations will be allowed on such account(s) through the use of ICICI Bank ATM card. The "stop payment stop transactions" instruction can be given only in respect of such accounts in which he/she is a joint account holder.


Non-Transferability:
ICICI Bank ATM card is not transferable under any and all circumstances and shall be used only by the Cardholder.


Personal Identification Number:
Each Cardholder will be issued a sealed envelope containing a four digit number called Personal Identification number (PIN) to gain access to the ATM Facilities. This number can be changed to any other convenient four digit number by the cardholder, at the ATM. The PIN shall under no circumstances be revealed to any third party. The Cardholder shall be solely responsible for the consequences arising out of the disclosure of his/ her PIN and/or unauthorised use of ICICI Bank ATM card and shall be liable for any increased liability which he/ she may incur on account of unauthorised use of the PIN and ICICI Bank ATM card. If the Cardholder forgets the PIN, he/she should make an application in writing for a fresh PIN. The selection of a new PIN and/or the replacement of ICICI Bank ATM card shall not be construed as the commencement of a new contract as between the Cardholder and ICICI Bank.

 

Funds in the accounts:
The Cardholder should not use or attempt to use ICICI Bank ATM card without sufficient funds in the Account he/ she wants to operate through the ICICI Bank ATM Card.

 

Loss/ Theft of Cards: The Cardholder shall be responsible for the safe custody of ICICI Bank ATM Card. In case of loss or theft of the ICICI Bank ATM Card, the Cardholder shall advise any of our branches, preferably the ICICI Bank ATM Card issuing branch as promptly as possible in writing, of the loss of ICICI Bank ATM Card, however occurring. Cardholder shall however be responsible and liable for all transactions effected by the user of the ICICI bank ATM Card until it is confiscated / cancelled. Another ICICI Bank ATM card will be issued to the Cardholder, in lieu of lost / stolen ICICI Bank ATM card, upon request in writing and payment of issue fee.

 

Authority to debit the account:
The Cardholder along with the joint account holder(s), if any, shall authorise the Bank to debit the account(s) with the amount of withdrawals, or transfers effected by the use of ICICI Bank ATM Card, as per the Bank's records. The Bank's record for transactions processed by the ATM machine shall be binding on all the joint account holders, jointly and severally.

 

Deposits:
The amount of cash/cheque deposits shall be verified by two members of the Bank's staff, one of whom will be an officer. The amount verified by the Bank shall be deemed to be correct amount deposited by the Cardholder. The statement issued by the ATM at the time of deposit only represents what the Cardholder purports to have deposited and will not be binding on the Bank. If there are soiled, mutilated notes in such deposits, the acceptance of such deposits shall be subject to final acceptance and reimbursement by RBI as per the Note Refund Rules. Cheques will be accepted for collection only and the proceeds will not be available until they have been cleared. Deposits of foreign currency cash/cheques /soiled and mutilated notes or any other deposits which are unacceptable, shall be returned, at the Cardholders cost, risk and responsibility.

 

Responsibility for all transactions processed through the ATMs:
Operations through the ATM Facilities on the Cardholders account(s) can only be through the use of ICICI Bank ATM Card on the machine. The Cardholder shall in all circumstances, accept full responsibility for all transactions processed by the use of his/ her ICICI Bank ATM Card, whether or not processed with the Cardholder's knowledge or authority, express or implied. The printed output that is produced at the time of operation of the ATMs are a record of the operation of the ATMs and shall not be construed as the Bank's records. The Bank's records of transactions shall be accepted as conclusive and binding for all purpose.

 

Closure of account(s):
If the Cardholder desires to close his account(s) or withdraw any ICICI Bank ATM Card linked deposit, or even otherwise decides to terminate the use of the ICICI Bank ATM Card and ATM Facilities, he/ she shall give a written notice of at least two (2) days and surrender ICICI Bank ATM Card to the Bank. The Cardholder shall also pay dues, if any, payable to the Bank in connection with the ATM Facilities.

 

Change of ATM terms:
The Bank has the absolute discretion to withdraw ICICI Bank ATM Card, the service thereby provided, or amend or supplement any of the ATM terms at any time without prior notice to the Cardholder.

 

Honouring the Card:
The Bank shall in no circumstances be held liable to the Cardholder if ICICI Bank ATM card is not honoured in the desired manner for whatsoever reason, or if the ATM is destroyed or not functioning due to power failure, temporary insufficiency of cash in the ATM or any other reason. The Bank will not be liable for any consequential or indirect loss or damage arising therefrom.

 

Ownership of ICICI Bank ATM card: ICICI Bank ATM Card shall be the property of the Bank and will be surrendered to the Bank on request or in the event of the Cardholder no longer requiring the service. The Bank reserves the right to disclose, in strict confidence, to other institutions, such information concerning the Cardholder's account as may be necessary or appropriate in connection with its participation in any ATM or Electronic Fund Transfer Network (like RTGS (Real Time Gross Settlement) or NEFT (National Electronic Funds Transfer).

 

Section A: TERMS AND CONDITIONS FOR DEBIT CARDS (“Debit Card Terms”)

DEFINITIONS
Capitalised terms used herein, unless defined, shall have the meaning ascribed to them in Schedule I (Terms) hereof. Under this section, the following words and phrases have the meaning stated hereunder unless indicated otherwise:

 

“Account/s" refers to the Cardholder's NRE / NRO designated by the Bank to be eligible account/s for operations through the use of the Card.

 

“Account Statement" means a monthly statement of Account sent by the Bank to a Cardholder setting out the Transactions carried out and balance in the Account as on that date, and any other information as the Bank may deem fit to include.

 

“Affiliate" of the Bank shall mean and include: (i) a subsidiary of ICICI Bank, ii) a person under the control of or under common control with ICICI Bank, or (iii) any person in more than 26% of the voting securities of which ICICI Bank has a direct or beneficial interest or control. For the purpose of this clause, "control" together with grammatical variations when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of the vote carrying securities, by contract or otherwise howsoever; and "person" means a company, corporation, a partnership, trust or any other entity or organisation or other body whatsoever.

 

“ATM" means any Automated Teller Machine whether in India or overseas, whether of the Bank or a specified Shared Network, at which, amongst other things, the Cardholder can use his Card to access his funds in his Account held with the Bank.

 

"Bank" or "ICICI Bank" refers to ICICI Bank Limited, a banking company incorporated in India under the Companies Act, 1956, and licensed under the Banking Regulation Act, 1946, and having its registered office at Landmark Building, Race Course Circle, Alkapuri, Baroda-390 007; the proprietors of the Card, and may include its successors, assign and nominees.

 

"Card" refers to the ICICI Bank Debit Card issued to the Cardholder.

 

"Cardholder" refers to a NRI customer of the Bank to whom a Card has been issued and who is authorised to hold the Card.

 

"International Transactions" refers to the Transactions entered into by the Card holder on his internationally valid Card outside of India, Nepal and Bhutan.

 

"Merchant Establishment" shall mean establishments wherever located which honour the Card and shall include, among others, stores, shops, restaurants, hotels and airline organisations advertised as honouring the Card.

 

“Merchant" means any person who owns or manages or operates a Merchant Establishment.

 

"PIN" means the Personal Identification Number allocated to the Cardholder by the Bank or chosen by the Cardholder/ Bank from time to time, in relation to the Card.

"POS Terminal" means the point of sale electronic terminals at Merchant Establishments whether in India or overseas, capable of processing Card Transactions and at which, amongst other things, the Cardholder can use his Card to access his funds in his Account held with the Bank to make purchases.

 

"Primary Account" shall mean in the case of multiple accounts of the Cardholder, the Account linked to the Card and debited for Transactions carried out with the Card.

“Shared Network" shall mean VISA or MasterCard networks which honour the Card.

“Transactions” shall mean any instruction given by a Cardholder using a Card directly or indirectly to the Bank to effect a transaction.

 

"Valid Charge" means a charge incurred by the Cardholder for purchase of goods or services on the Card or any other charge as may be included by the Bank from time to time for the purpose of this Scheme.

 

“ICICI Bank 24 Hour Customer Care Centre" refers to ICICI Bank Phone Banking Service or phone banking service offered by such other entity as may be nominated by the Bank, which shall be available to all Cardholders.
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CONSTRUCTION
The headings in these Debit Card Terms are inserted for convenience of reference only and are to be ignored in construing and interpreting this Agreement.

 

References to VISA / MASTER card regulations pertain to the guidelines issued by VISA / MASTER card to all the member banks of its network. The rules of interpretation as set out in the General Clauses Act shall apply to these Debit Card Terms as if incorporated herein. These Debit Card Terms shall be in addition to and not in derogation of the Terms (as contained in Schedule I hereof) and other terms and conditions relating to the services/ facilities availed by the Cardholder from the Bank from time to time.

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VALIDITY
The Card is valid for use at ATMs and Merchant Establishments in India only. The Card is valid up to the last working day of the month indicated on the Card.

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BENIFITS OF CARD
The Cardholder can access cash, make payments at Merchant Establishments and ascertain information about his Remittance Card account balance (as defined below) through the use of the Card at ATMs/ POS devices (whether of the Bank or a Shared Network). “Remittance Card account” is the INR denominated remittance account made available to the resident beneficiary of the Cardholder in relation to any transfer of funds from the Cardholder’s offshore account to this remittance card account. The Debit Card Terms shall apply to the Remittance Card account and shall be in addition to the terms and conditions as may be applicable to the Remittance Card account, and as available on www.icicibank.com.

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PERSONAL IDENTIFICATION NUMBER
To enable the Cardholder to use the Card, a Personal Identification Number (PIN) will be issued to him. The PIN shall be mailed to him and the Cardholder shall ensure that the same is received in a sealed envelope. This PIN may subsequently, be changed by the Cardholder, at his own risk, at an ATM. The security of the PIN is very important. If the Cardholder fails to observe these security requirements, he may incur liability for the Bank for any reason whatsoever. The Bank may, in its absolute discretion issue a replacement Card with a new PIN for any lost or stolen Card or a new PIN on the existing Card or issue a renewal Card with a new or the same PIN on the same Debit Card Terms or such other terms and conditions as the Bank may deem fit. Subject to the foregoing provisions, the Cardholder will not hold the Bank liable in case of improper/ fraudulent/ unauthorized/ duplicate/erroneous use of the Card and/or the PIN through the Card falling in the hands of any third party or through the PIN coming to the knowledge of any third party.

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LOST OR STOLEN CARDS
If a Card is lost or stolen, the Cardholder must file a report with the local police and send a copy of the same to the Bank. The Cardholder will be liable for all charges incurred on the Card until the Card is hotlisted/cancelled. The Cardholder may report a Card loss over the telephone to the Bank's 24-Hour Customer Care Centre. The Bank upon adequate verification will temporarily suspend the Card, and will subsequently hotlist/cancel the Card during working hours on a working day following the receipt of such intimation. If the Cardholder loses his Card overseas, he may either follow the above procedure or may report the loss through the VISA/MASTERCARD Global Emergency Assistance (VGEA) helplines. Please visit the relevant website for VISA and/ or MASTERCARD for further details. In case the Cardholder uses the VGEA services, then the charges for the usage of such services shall be borne by the Cardholder. The Cardholder shall take cognizance of the fact that once a Card is reported lost, stolen or damaged and is subsequently found, the same shall be promptly cut in half, returned to the Bank and adequate care taken to prevent its misuse. The Cardholder is responsible for the security of the Card and shall take all steps towards ensuring the safe keeping thereof. In the event the Bank determines that the aforementioned steps are questionable, financial liability on the lost or stolen Card would rest with the Cardholder. Provided that the Cardholder has complied with the Debit Card Terms in aII respects, a replacement Card may be issued at the sole discretion of the Bank.

 

ICICI Bank constantly monitors the risk of using the Card in the high risk countries. ICICI Bank will attempt to call the Card Members to inform them about the probable fraud risk that could emanate from such Card usage at high risk countries and shall seek consent from the Card Member to block the Card from further usage. In the event, the Card Member chooses not to block the Card after being informed by ICICI Bank of probable fraud risk or are not contactable by ICICI Bank, ICICI Bank shall not stand liable or responsible in any manner for any fraudulent transactions reported to it thereafter on account of fraudulent usage of the Card or otherwise.

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SURRENDER / REPLACEMENT OF CARD
The Card issued to the Cardholder shall remain the property of the Bank and will be surrendered to the Bank, on request. The Cardholder shall return the Card to the Bank for cancellation in the event the services are no longer required by the Cardholder or if the services are withdrawn by the Bank for any reason whatsoever. The Bank, may, in its absolute discretion issue a replacement Card with a new PIN for any lost or stolen Card or a new PIN on the existing Card, or issue a renewal Card with a new or the same PIN on the same Debit Card Terms or such other terms and conditions as the Bank may deem fit. Subject to the foregoing provisions, the Cardholder will not hold the Bank liable in case of improper/fraudulent/ unauthorized/duplicate/erroneous use of the Card and/or the PIN through the Card falling in the hands of any third party or through the PIN coming to the knowledge of any third party.

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TERMINATION
The Cardholder may discontinue this facility anytime by a written notice to the Bank accompanied by the return of the Card cut into two diagonally. The Cardholder shall be liable for all charges incurred, up to the receipt of the written notice duly acknowledged. The Bank shall be entitled to discontinue this facility at any time by canceling the Card with or without assigning any reason whatsoever and by giving seven day's notice. The notice shall be deemed to have been received the Cardholder within seven days of posting to the Cardholder's address in India last notified in writing to the Bank.

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USAGE GUIDELINES
The Cardholder shall at all times ensure that the Card is kept at a safe place and shall under no circumstances whatsoever allow the Card to be used by any other individual. The Cardholder will sign the Card immediately upon receipt. The Card is the property of the Bank and must be returned to an authorised person of the Bank on request. The Cardholder shall ensure that the identity of the authorised person of the Bank is established before handing over his Card. The Cardholder will be responsible for all facilities granted by the Bank in respect of the Card and for all related charges and shall act in good faith in relation to all dealings with the Card and the Bank. The type of Transactions offered on Shared Network ATM's may differ from those offered on the Bank's own network. The Bank will only support cash withdrawal and balance enquiry Transactions that will be offered at the ATM's belonging to Shared Networks. The Bank reserves the right to change the types of Transactions supported without any notice to the Cardholder.

The non chip debit card issued with the I-kit of NRE account cannot be used for any international transactions. In the event that the customer intend to use the debit card for international transactions, he/shee shall apply for an EMV chip debit card with ICICI Bank to ensure safety and security of all such transaction(s)."

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STATEMENTS AND RECORDS
The Cardholder can get a verbal or written history of his Transactions by calling the ICICI Bank 24-Hour Customer Care Centre. The Cardholder can also check the transaction records from the Account Statement available online at the Bank’s Website (www.icicibank.com). The Cardholder will inform the Bank in writing within fifteen (15) days, if any irregularities or discrepancies exist in the Transactions/ particulars of the Account on any Account Statement that is made available to the Cardholder. If the Bank does not receive any information to the contrary within fifteen (15) days the Bank may assume that the Account Statement and the Transactions are correct. To ensure the Cardholder's interests, the Bank may record on camera or on video tape, at its own discretion the access to and the presence of any person while availing the use of the Card facilities. All records maintained by the Bank, in electronic or documentary form of the instructions of the Cardholder and such other details (including. but not limited to payments made or received) pursuant to Debit Card Terms, and all camera/video recordings made as mentioned above shall as against the Cardholder, be deemed to be conclusive evidence of such instructions and such other details.

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ATM USAGE
The Card is operable with the help of the confidential PIN at ATM locations. All Transactions conducted with use of the PIN will be the Cardholder's responsibility and he will abide by the record of the transaction as generated. When the Cardholder completes a transaction through an ATM he can opt to receive a printed transaction record. The amount of available funds is shown on this ATM receipt when he/ she uses his Card. The Cardholder can also get information regarding his available funds including written statement, by calling the ICICI Bank 24-Hour Customer Care Centre. The Cardholder is advised to retain the record of Transactions generated by the ATM with him/ her. The Cardholder agrees that he will be allowed to withdraw/ purchase only a certain amount of cash everyday irrespective of the credit balance in the Account(s). This amount will be announced from time to time. Any attempt to violate this limit may lead to withdrawing of his Card facility. The Cardholder agrees not to attempt to withdraw/ purchase using the Card unless sufficient funds are available in the Account. The onus of ensuring adequate Account balances is entirely on him/ her.

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MERCHANT LOCATION USAGE
The Card is acceptable at all Merchant Establishments in India only which display the logos of the Bank/VISA/MASTERCARD and which have a POS terminal. The Card is for electronic use only as in the case of the charge slip/transaction slip printed electronically from the POS Terminal. The Cardholder must sign a sales slip whenever the Card is used at a Merchant Establishment and should retain his copy. The Bank at an additional charge may furnish copies of the sales slip. Any sales slip not personally signed by the Cardholder, but which can be proved as being authorised by the Cardholder will be his/ her liability. The amount of the Transaction is debited from the Remittance Card account linked to the Card immediately. The Card is operable with the help of the Cardholder's signature or the PIN at POS Terminals installed at Merchant Establishments/ locations depending on the functionality of the POS Terminal. The Bank will not accept responsibility for any dealings, the Cardholder may have with the Merchant including but not limited to the supply of goods and services. Should the Cardholder have any complaints concerning any Merchant Establishment, the matter should be resolved by the Cardholder with the Merchant Establishment and failure to do so will not relieve him from any obligations to the Bank. However, the Cardholder should notify the Bank of this complaint immediately, The Bank accepts no responsibility for any surcharge levied by any Merchant Establishment and debited to the Cardholder's Account with the Transaction amount. Any charge or other payment requisition received from a Merchant Establishment by the Bank for payment shall be conclusive proof that the charge recorded on such requisition was properly incurred at the Merchant Establishment for the amount and by the Cardholder using the Card referred to in that charge or other requisition, except where the Card has been lost, stolen or fraudulently misused, the burden of proof for which shall be on the Cardholder. In case a Cardholder wishes to cancel a completed transaction due to an not-error or on account of merchandise return, the earlier sales receipt must be cancelled by the Merchant and a copy of the cancelled receipt must be retained in the Cardholder's possession. Reversal/refund of debits due to such Transactions will be processed 'manually and the cancelled sales slip needs to be produced by the Cardholder, if called for. The Card is not to be used at hotels during check-in and also at other locations where paying arrangement is done before completion of the purchase transaction or service. The Card should not be used for any mail order/phone order/internet purchases and any such usage will be considered as unauthorized and the Cardholder will be solely responsible.

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GLOBAL CARDHOLDER ASSISTANCE SERVICES (VISA/MASTERCARD GLOBAL EMERGENCY ASSISTANCE HELPLINES)
The multi-lingual VISA/MASTERCARD Emergency Assistance Services Programme offers worldwide emergency referral assistance to VISA/MASTERCARD Cardholders when travelling overseas. These include a wide range of legal, medical and other services. The communications and arrangements of services of the emergency assistance programme are provided by a third-party service provider and are paid for by VISA/MASTERCARD International and the Cardholder is responsible for the cost of any and all medical, legal or other services used. Assistance is provided on a best effort basis and may not be available due to problems of time, distance or locations. The medical and/or legal professionals suggested and/or designated by VISA/MASTERCARD International are not employees of VISA/MASTERCARD International and, therefore, they are not responsible for the availability, use, acts, omissions or results of any medical, legal or transportation service. The Bank does not accept any responsibility for the arrangement or the use of such services.

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EXCLUSION FROM LIABILITY
In consideration of the Bank providing the Cardholder with the facility of the Card, the Cardholder hereby agrees to indemnify and keep the Bank indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing the Cardholder the said facility of the Card or by reason of the Bank's acting in good faith and taking or refusing to take or omitting to take action on the Cardholder's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Cardholder; breach or noncompliance of the rules. Terms and Conditions relating to the Card and the Account and/or fraud or dishonesty relating to any Transaction by the Cardholder or his employee or agents. The Cardholder shall indemnify and hold harmless the Bank from any and all consequences arising from the Cardholder not complying with the Exchange Control Regulations of the RBI and/or any other Act/Authority. The Cardholder agrees to indemnify the Bank for any machine/ mechanical not-error/failure. The Cardholder shall also indemnify the Bank fully against any loss on account of misplacement by the courier or loss-in-transit of the Card/PIN. Without prejudice to the foregoing, the Bank shall be under no liability whatsoever to the Cardholder in respect of any loss or damage arising directly or indirectly out of:

Any defect in quality of goods or services supplied.
The refusal of any person to honor to accept a Card.
The malfunction of any computer terminal.
Effecting Transaction instructions other than by a Cardholder.
Handing over of the Card by the Cardholder to anybody other than the designated employees of the Bank at the Bank's premises.
The exercise by the Bank of its right to demand and procure the surrender of the Card prior to the expiry date exposed on its face, whether such demand and surrender is made and/or procured by the Bank or by any person or computer terminal.
The exercise by the Bank of its right to terminate any Card.

Any injury to the credit, character and reputation of the Cardholder alleged to have been caused by the re-possession of the Card and/or, any request for its return or the refusal of any Merchant Establishment to honor or accept the Card.

Any misstatement, misrepresentation, not-error or omission in any details disclosed by the Bank except as otherwise required by law, if the Bank receives any process, summons, order, injunction, execution distraint, levy lien, information or notice which the Bank in good faith believes calls into question the Cardholder's ability, or the ability of someone purporting to be authorised by the Cardholder, to transact on the Card, the Bank may, at its option and without liability to the Cardholder or such other person, decline to allow the Cardholder to obtain any portion of his funds, or may pay such funds over to an appropriate authority and take any other steps required by applicable law. The Bank reserves the right to deduct from the Cardholder's Account a reasonable service charge and any expenses it incurs, including without limitation reasonable legal fees, due to legal action involving the Cardholder's Card.

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ADDITION / WITHDRAWAL OF FACILITIES
The Bank may, at its discretion, make available to the Cardholder more services on the Card, ATMs, POS Terminals, and/or other devices through Shared Networks for the Cardholder's convenience and use. All fees and charges related to Transactions done by the Cardholder at these devices, as determined by the Bank from time to time will be recovered by a debit to his Account. The Cardholder understands and agrees that the Shared Networks may provide different functionalities and service offerings and different charges for different services. The Bank shall also, in its sole discretion, at any time, without notice to the Cardholder, be entitled to 'withdraw, discontinue, cancel, suspend/or terminate the facility to use the Card and/or services related to it, at ATMs / POS Terminal/other devices within/outside India and shall not be liable to the Cardholder for any loss or damage suffered by him resulting in any way from such suspension or termination.

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DISCLOSURES
The Cardholder hereby agrees that in case the Cardholder commits a default in payment or repayment of any amount due on the Card, ICICI Bank and/or the Reserve Bank of India (RBI) will have an unqualified right to disclose or publish the details of the default including the name of the Cardholder and/or its directors/partners/ co-applicants as applicable as defaulters in such manner and through such media as ICICI Bank or RBI in their absolute discretion may think fit. The Cardholder hereby authorizes ICICI Bank to exchange, share or part with all the information relating to the Cardholder's details and repayment history information and all information pertaining to and contained in these Terms and Conditions or as expressed in the application made for the Card to its Affiliates/ other ICICI Bank Group Companies/Banks/Financial Institutions/ Credit Bureaus/ Agencies/Statutory Bodies as may be required and undertakes not to hold ICICI Bank/its Affiliates/the other group companies of ICICI Bank Group and their agents liable for use of the aforesaid information.

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FEES / CHARGES
The annual fees for the Card will be debited to the Account on application/renewal at the Bank's prevailing rate. The fees are not refundable. The Bank reserves the right at any time to charge the Cardholder for the issue or reissue of a Card and/or any fees/charges for the Transactions carried out by the Cardholder on the Card. Any such fees and charges will be deducted automatically from the Cardholder's Account at the time the fee or charge is incurred. In addition, operators of Shared Networks may impose an additional charge for each use of their ATM/ POS Terminal/other device, and any such charge along with other applicable fees/charges will be deducted from the Cardholder's Account. There will be separate service charges levied for such facilities as may be announced by the Bank from time to time and deducted from the Cardholder's Account. In the situation that the Account does not have sufficient funds to deduct such fees, the Bank reserves the right to deny any further Transactions. The decision of the Bank is binding on the Cardholder. Any government charges, duty or debits, or tax payable as a result of the use of the Card shall be the Cardholder's responsibility and if imposed upon the Bank (either directly or indirectly), the Bank shall debit such charges, duty or tax against the Cardholder's Account. The Cardholder also authorizes the Bank to deduct from his Account, and indemnifies the Bank against any expenses it may incur in collecting money owed to it by the Cardholder in connection with the Card (including without limitation reasonable legal fees). In case of Accounts classified as overdrawn Accounts, the Cardholder will have to rectify the Account balance position immediately. In every such situation where the Account gets overdrawn, a flat charge could be levied in addition to the interest to be charged on the debit balance in the Account. This charge will be determined by the Bank and will be announced from time to time. In the event of an Account being overdrawn due to Card Transactions, the Bank reserves the right to set-off this amount against any credit lying from any of the Cardholder's other Accounts held jointly or singly without giving any notice. Nothing in these Terms and Conditions shall affect the Bank's right of setoff, transfer and application of monies at law or pursuant to any other agreement from time to time subsisting between the Bank and Cardholder.

The Bank and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any accounts of the Cardholder/s, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of The Bank and/or its group companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the Cardholder/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of any of The Bank's or its group companies’ services extended to and/or used by the Cardholder/s and/or as a result of any other facilities that may be granted by The Bank and/or its group companies to the Cardholder/s. The Bank and/ or its group companies are entitled without any notice to the Cardholder/s to settle any indebtedness whatsoever owed by the Cardholder/s to The Bank and/or its group companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the Cardholder/s with The Bank and/or its group companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. The Bank's and its group companies’ rights hereunder shall not be affected by the Cardholder/s’ bankruptcy, death or winding-up. It shall be the Cardholder/s’ sole responsibility and liability to settle all disputes/ objections with any such joint account holders.

In addition to the above mentioned right or any other right which The Bank and its group companies may at any time be entitled whether by operation of law, contract or otherwise, the Cardholder authorises The Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the Cardholder with or to any branch of The Bank and/or its group companies; (b) to sell any of the Cardholder/s’ securities or properties held by The Bank by way of public or private sale without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to The Bank and/or it group companies from the Cardholder/s, including costs and expenses in connection with such sale; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of The Bank and/or its group companies.

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DISPUTES
The Bank accepts no responsibility for refusal by any Merchant Establishment to accept and/or honor the Card. In case of dispute pertaining to a Transaction with a Merchant Establishment, a sales slip with the signature of the Cardholder together with the Card number noted thereon shall be conclusive evidence as between the Bank and the Cardholder as to the extent of liability incurred by the Cardholder and the Bank shall not be required to ensure that the Cardholder has duly received the goods purchased/to be purchased or has duly received the service availed/to be availed to the Cardholder's satisfaction. In case the Cardholder has any dispute in respect of any charge indicated in the Account Statement, the Cardholder shall advise details to the Bank within 15 days of the Account Statement date failing which it will be construed that all charges are acceptable and in order. The Bank may at its sole discretion accept any disputes on charges older than 15 days. The Bank shall make bonafide and reasonable efforts to resolve an aggrieved Cardholder's disagreement with the applicable charge indicated in the Account Statement within two months of receipt of the notice of disagreement. If after such effort the Bank determines that the charge indicated is correct then it shall communicate the same to the Cardholder along with details including a copy of the sales slip or payment requisition. Any dispute in respect of a Shared Network ATM Transaction will be resolved as per VISA/MASTERCARD regulations. The Bank does not accept responsibility for any dealings the Cardholder may have with Shared Networks Should the Cardholder have any complaints concerning any Shared Network ATM, the matter should be resolved by the Cardholder with the Shared Network, and failure to do so will not relieve him from any obligations to the Bank. However, the Cardholder should notify the Bank of the complaint immediately.

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INSURENCE BENEFIT
The Cardholder may, under the Card, be offered various insurance benefits from time to time by the Bank through a tie-up with an insurance company, The Cardholder specifically acknowledges that he shall not hold the Bank responsible for any matter arising out of or in conjunction with such insurance cover, whether for or in respect of any deficiency or defect in such insurance cover, recovery or payment of compensation, processing or settlement of claims or otherwise howsoever, and all such matters shall be addressed to and sorted out directly with the insurance company. The insurance company will be solely liable for settlement of the claim. Further, the Cardholder also agrees that the Bank may at any time (in its sole discretion and without giving any notice thereof to the Cardholder or assigning any reason thereof) suspend, withdraw or cancel the benefit of such insurance cover, and there will be no binding obligation on the Bank to continue this benefit.

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TERMS AND CONDITIONS
The Debit Card Terms for use of the Card are as specified in this document and as amended by the Bank from time to time. The Cardholder shall be deemed to have unconditionally agreed to and accepted these Debit Card Terms by signing the Card application form, or acknowledging receipt of the Card in writing, or by signing on the reverse of the Card, or by performing a transaction with the Card or by requesting activation of the Card to the ICICI Bank 24-Hour Customer Care' Centre or after ten (10) days have elapsed since the Card was dispatched to his/ her address on record. These Debit Card Terms will be in addition to and not in derogation of the Terms (contained in Section I hereof) relating to any Account of the Cardholder and the ATM terms. In the event of any inconsistency between the Terms, the ATM terms and the Debit Card terms; the Debit Card Terms shall prevail. The Bank may also make a change without notice if the change is necessary to maintain or restore the security of the electronic system or equipment used for the Card Transactions, The Cardholder will be notified within thirty (30) days if such a change is made, unless disclosure would jeopardize the security of the electronic system or equipment.

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NOTIFICATION OF CHANGES
The Bank reserves the right to alter, amend or revise any policy, benefit or feature offered on the Card as also alter any of these Debit Card Terms and may notify the Cardholder of any changes to the Debit card Terms for use of the Card in any manner it considers appropriate. Without prejudice to the forgoing, notification of any such changes may be given by the Bank by delivering it to the Cardholder personally or by posting it to his latest address recorded with the Bank. The Cardholder must notify the Bank of any change to his address. Proof of posting to such last notified address shall be conclusive proof of the notification at the time when it ought to be delivered in due course by the post even if the notification may be returned through the post undelivered.

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GOVERNING LAW AND JURISDICTION
ICICI Bank and the Cardholder agree that any legal action or proceedings arising out of this Debit Card Terms shall be brought in the courts or tribunals at Mumbai in India and irrevocably submitting themselves to the jurisdiction of that court or tribunal. ICICI Bank may, however, in its absolute discretion commence any legal or proceedings arising out of these Terms and Conditions in any other court, tribunal or other appropriate forum, and the cardholder hereby consents to the jurisdiction. The agreement shall be governed by and construed in accordance with the laws of India.

 

Section B: Terms and Conditions for Internet Website Usage through IDC

These are the terms and conditions governing the internet website usage through International Debit Card (“IDC”) issued to NRIs holding account with ICICI Bank Limited in India (“ICICI Bank”) (“Internet Website Usage Terms”). These Internet Website Usage Terms shall be in addition to and not in derogation of the Terms (as defined in Schedule I hereof) and the Debit Card Terms (as defined in Section VI hereof) and other applicable terms and conditions in relation to the services/ facilities availed by an NRI customer and as made available on the Internet Website (as defined below). In case of any inconsistency between the Terms, the debit Card terms and these Internet Website Usage Terms; the Internet Website Usage Terms shall prevail.

 

DEFINITION
"Cardholder" refers to the NRI Account holder of ICICI Bank or any such person authorized by the account holder to whom IDC has been issued and who is authorized to hold the IDC.

“Internet Website” shall mean websites of the Merchant Establishments wherever located which honor the IDC for payments to be made by the Card holder of the goods and services purchased through these websites or otherwise and shall include among others, the websites of stores, shops, restaurants, hotels, utility companies, railways and airline organizations advertised as honoring the Card.

"Transactions" shall mean any instruction given by a Cardholder using IDC directly or indirectly to ICICI Bank to effect a transaction.

1. IDC can be used by the Cardholder (unless otherwise intimated by ICICI Bank) at all Internet Websites in India and abroad which display the logos of the Bank/VISA/MasterCard and which have the facility of offering goods or services for purchase through the internet.

2. The IDC can be operated with the help of the card number, CVV2 security digits and grid values printed at the back of the IDC on Internet Websites.

3. ICICI Bank will not accept responsibility for any dealings by the Cardholder through Internet Website, including but not limited to the supply of goods and services or for any surcharge levied by any Internet Website and the same being debited to the Cardholder's account with the Transaction amount.

4. Any charge or other payment requisition received from an Internet Website by ICICI Bank for payment shall be conclusive proof that the charge recorded on such requisition was properly incurred at the Internet Website by the Cardholder, except where the IDC has been lost, stolen or fraudulently misused, the burden of proof for which shall be on the cardholder.

5. Any complaints that the cardholder may have concerning any transaction placed through Internet Website, should be resolved by the Cardholder with the merchant and failure to do so will not relieve him from any obligations towards ICICI Bank. However, the Cardholder should notify ICICI Bank of this complaint immediately.

6. In case a Cardholder wishes to cancel a completed transaction due to an not-error or on account of merchandise return, the earlier transaction must be cancelled at the Internet Website and an electronic copy of the cancelled receipt must be retained in the Cardholder's possession. Reversal/refund of debits due to such transactions will be processed manually and if required the electronic copy of the cancelled receipt needs to be produced by the Cardholder.

7. The IDC should not to be used at hotels during check-in and also at other locations where paying arrangement is done before completion of the purchase transaction or service.

8. The IDC should not be used for any mail order/phone order purchases and any such usage will be considered as unauthorized and the Cardholder shall be solely responsible for such usage. Further, IDC cannot be used on internet for purchase of prohibited items like lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call-back services etc., i.e. for such items / activities for which drawal of foreign exchange is not permitted.

9. In addition to these Internet Website usage Terms, Cardholder agrees to abide by internet banking terms and conditions available on the ICICI Bank website.

10. IDCs can be used only for permissible current account transactions and the item-wise limits as mentioned in the Schedules to Rules as amended from time to time, are equally applicable to payments made through use of these cards. Card Member accepts full responsibility for wrongful use in contravention to these conditions and undertakes and agrees to indemnify ICICI Bank to make good any loss, damage, interest, conversion, any other financial charge that ICICI Bank may incur and / or suffer as a result of the Card Member committing violations of the provisions thereof.

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Section VII - Terms and Conditions governing Internet Banking service of ICICI Bank
DEFINITIONS

In this section, the following words and phrases shall have the meanings as set below unless the context indicates otherwise:

"Account(s)" refers to the user's bank Account, credit card account, home loan account, automobile loan account, consumer durable loan account, depository account and/or any other type of account (each account hereafter referred to as an "Account" and collectively as "Accounts"), so maintained with ICICI Bank or its Affiliate which are eligible Account(s) for purposes of Internet Banking. One of these Accounts shall be designated as the Primary Account and all other Accounts, if any, of the user shall be referred to as Secondary Account(s).

"Affiliate" of ICICI Bank shall mean and include any company which is the holding company or subsidiary of ICICI Bank, or any person under the control of or under common control with ICICI Bank or in more than 26% of the voting securities of which ICICI Bank has a direct or beneficial interest or control.

For the purpose of this definition of Affiliate, "control" together with grammatical variations when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of the vote carrying securities, by contract or otherwise howsoever; and "person" means a company, corporation, a partnership, trust or any other entity or organisation or other body whatsoever.

"ICICI Bank" or “Bank” refers to ICICI Bank Limited, a company incorporated under the Companies Act, 1956 and licensed as a bank under the Banking Regulation Act, 1949 and having its registered office at Landmark, Race Course Circle, Vadodara 390 007 and corporate office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051.

"Internet Banking" refers to the internet banking service offered by ICICI Bank to the user including services such as enquiry about balance in the Account, details about transactions in the Account(s), statement of Account, transfer of funds and any other service as ICICI Bank may decide to provide from time to time through internet. The availability/non-availability of a particular service shall be communicated to the user through email, web page of ICICI Bank or in writing as may be deemed fit by ICICI Bank. Such Internet Banking may be provided by ICICI Bank directly or through its associates or contracted service providers.

"User" or "user" refers to a customer of ICICI Bank and/or of the Affiliates authorised to use Internet Banking. In case of the user being a minor, the guardian of such minor shall be permitted to use Internet Banking.

"Payer" refers to the person who holds the Debit Account.

"Payee" refers to the person to whom User will transfer Fund(s).

"Personal Information" refers to the information provided by the user to ICICI Bank.

"Internet Banking Terms" refer to terms and conditions herein for use of Internet Banking.

"Payee Registration Confirmation” refers to confirmation of Payee Registration to whom User will transfer Fund(s).

"Website" refers to the website owned, established and maintained by ICICI Bank located at the URL www.icicibank.com.

In this section, all references to the user being referred in masculine gender shall be deemed to include the feminine gender.

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APPLICABILITY OF TERMS
These Internet Banking Terms form the contract between the user and ICICI Bank for availing Internet Banking. The user shall apply to ICICI Bank in the prescribed form for use of Internet Banking. ICICI Bank shall be entitled at its sole discretion to accept or reject such applications as may be submitted by the users. By applying for or availing of Internet Banking, the user acknowledges and accepts these Internet Banking Terms. Notwithstanding anything contained herein, all terms and conditions stipulated by ICICI Bank (and Group Companies) pertaining to the Accounts shall continue to be applicable to the users provided in the event of a conflict in the terms stipulated by CICI Bank (and Group Companies) and the Internet Banking Terms herein, the Internet Banking Terms herein shall have overriding effect.

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INTERNET BANKING
For the purpose of availing Internet Banking, the user would need to have legal and valid access to the Internet.
The information provided to the user through the Internet Banking is not updated continuously but at regular intervals. Consequently, any information supplied to the user through Internet Banking will pertain to the date and time when it was last updated and not as the date and time when it is supplied to the user. ICICI Bank shall not be liable for any loss that the user may suffer by relying on or acting on such information.

ICICI Bank may keep its records of the transactions in any form it wishes. In the event of any dispute, ICICI Bank's records shall be binding as the conclusive evidence of the transactions carried out through Internet Banking in the absence of clear proof that ICICI Bank's records are erroneous or incomplete.

Any request for any service, which is offered as a part of Internet Banking, shall be binding on the user as and when ICICI Bank receives such a request. If any request for a service is such that it cannot be given effect to unless it is followed up by requisite documentation on part of the user, ICICI Bank shall not be required to act on the request until it receives such documentation from the user.

In case of any request for a service relating to any foreign currency transaction made by the user, the exchange rates quoted by ICICI Bank shall only be provisional and shall be subject to future variations in the exchange rate. The rate at which the transaction is given effect to would be the effective rate for all intents and purposes.

The user shall ensure that Internet Banking or any related service is not used for any purpose which is illegal, improper or which is not authorised under these Internet Banking Terms.

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UNAUTHORISED ACCESS
The user shall take all necessary precautions to prevent unauthorized and illegal use of Internet Banking and unauthorized access to the Accounts provided by Internet Banking. ICICI Bank shall take all commercially reasonable care to, ensure the security of and to prevent unauthorised access to the Internet Banking using commercially reasonable technology available in India to ICICI Bank.

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INTERNET BANKING ACCESS
The user would be allotted an Internet Banking user ID and a set of secret passwords by ICICI Bank in the first instance. The user will be required to change the password assigned by ICICI Bank on accessing Internet Banking for the first time. As a safety measure, the user shall change the password as frequently thereafter as possible. In addition to user ID and password ICICI Bank may, at its discretion, advise the user to adopt such other means of authentication including but not limited to digital certification and/ or smart cards. The user shall not attempt or permit others to attempt accessing the Account information stored in the computers of ICICI Bank through any means other than the Internet Banking.

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INTERNET BANKING PASSWORD
The user acknowledges, represents and warrants that the password which will be issued, provides access to the Account and that user is the sole and exclusive owner and is the only authorised user of the password and accepts sole responsibility for use, confidentiality and protection of the password, as well as for all orders and information changes (i.e., change of address) entered into Accounts using such password.

The user grants express authority to ICICI Bank for carrying out transactions and instructions authenticated by such password. The user unconditionally undertakes to have Internet Banking password of such number of letters/digits as may be notified by ICICI Bank from time to time and ensure that the same is kept confidential; and to not let any unauthorised person have access to the internet while the user is accessing the Internet Banking. If the user forgets the Internet Banking password or the Internet Banking Password gets locked after a number of incorrect attempts, upto such number as may be intimated by ICICI Bank from time to time, then the user may request for the issue of a new password through the 24-Hour Phone Banking Service, Internet Banking Channel or the ICICI Bank branch and this shall not be construed as the commencement of a new contract. Such Password may be issued within such time as may be intimated by ICICI Bank from time to time. The user agrees and acknowledges that ICICI Bank shall in no way be held responsible or liable if the user incurs any loss as a result of information being disclosed by ICICI Bank regarding his Account(s) or carrying the instruction of the user pursuant to the access of the Internet Banking and the user shall fully indemnify and hold harmless ICICI Bank and the affiliates in respect of the same. The user shall maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake. The user shall comply with such guidelines, instructions or terms as ICICI Bank may prescribe from time to time with respect to the password.

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JOINT ACCOUNTS
In case of Joint Accounts, transactions through Internet Banking, shall be available if the mode of operation is indicated as 'either or survivor' or 'anyone or survivor'. The user desirous of using the Internet Banking should either be the Account holder and sole signatory or authorised to act independently in case of a joint account. For such joint accounts, one user-ID and password for Internet Banking will be issued to each of the joint account holders when requested. The other joint account holders shall expressly agree with the arrangement and give their consent on the application form for use of Internet Banking. In case of joint accounts operated by more than one user, ICICI Bank shall act on the instruction received first and any subsequent instruction shall be neglected. All correspondence will be addressed to the first named person only. All transactions arising from the use of Internet Banking in the joint account shall be binding on all the joint account holders, jointly and severally.

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CHARGES
ICICI Bank reserves the right to charge and recover from the user service charge for providing the Internet Banking (including but not limited to the right of charging the user for the use of funds transfer through eCheques). The user hereby authorises ICICI Bank to recover the service charge by debiting one of the Accounts of the user or by sending a bill to the user who will be liable to make the payment within the specified period. Failure to do so shall result in recovery of the service charge by ICICI Bank in a manner as ICICI Bank may deem fit along with such interest, if any, and/or suspension of the facility of Internet Banking without any liability to ICICI Bank.

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MAINTENANCE OF SUFFICIENT BALANCE
The user shall ensure that there are sufficient funds (or prearranged credit facilities) in any Account for transactions through the Internet Banking, and ICICI Bank shall not be liable for any consequences arising out of its failure to carry out the instructions due to inadequacy of funds and/or credit facilities provided always that ICICI Bank shall at its sole discretion, be entitled to carry out the instructions notwithstanding such inadequacy without seeking the prior approval from or notice to the user and the user shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and for all related to costs and charges.

ICICI Bank may, at its discretion, levy premium charges for non-maintenance of the minimum account balance. In addition to the minimum balance stipulation ICICI Bank may levy service charges for use of Internet Banking which will be notified by ICICI Bank to the user from time to time. Any change in such service charges will also be notified to the user. The user authorises ICICI Bank to recover all charges related to Internet Banking as determined by ICICI Bank from time to time by debiting one of the Accounts.

ICICI Bank may withdraw the provision of Internet Banking, wholly or partly, if at any time the amount of deposit falls short of the required minimum as aforesaid and / or if the service charges remain unpaid, without giving any further notice to the user and / or without incurring any liability or responsibility whatsoever by reason of such withdrawal.

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FUNDS TRANSFER THROUGH INTERNET BANKING
The User accepts that he will be responsible for keying in the correct account number for the fund transfer request. In no case, ICICI Bank will be held liable for any erroneous transactions incurred arising out of or relating to the User entering wrong account numbers.

The User shall not use or attempt to use the Internet Banking for funds transfer through eCheques without sufficient funds in the relative Account or without a pre-existing arrangement with ICICI Bank for the grant of an overdraft. ICICI Bank will endeavour to effect funds transfer transaction received through Internet Banking subject to availability of sufficient funds in the Account and Confirmation of Payee Registration by the User. ICICI Bank shall specify from time to time the limit for carrying out various kinds of funds transfer or any other services through Internet Banking. The said facility will be provided in accordance with the arrangement between ICICI Bank and the Affiliates and as per conditions specified by ICICI Bank from time to time.

ICICI Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond its reasonable control including non-confirmation of Payee Registration. ICICI Bank reserves the right to charge the User for the use of funds transfer through eCheques by giving due notice on the website about such charges.

If funds transfer is made available to the user, it may be used for transfer of funds from Account to other accounts belonging to third parties maintained at ICICI Bank and/or at any other Bank which falls under the network of RBI’ Electronic Fund Transfer system.

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SMART MONEY ORDER
The User accepts that he will be responsible for keying in the correct details of the sender and receiver for the money order transfer request. In no case shall ICICI Bank be held liable for any erroneous transactions incurred, arising out of or relating to the User entering wrong details of the sender and/or the receiver.

The “Smart Money Order” facility will be provided in accordance with the arrangement between ICICI Bank and India Post (The Department of Posts, Ministry of Communications and Information Technology, Government of India) and conditions pertaining to such arrangement shall be specified by ICICI Bank from time to time. The User shall not use or attempt to use the Internet Banking for making an online request for money order without sufficient funds in the specified Account . ICICI Bank will endeavour to process the money order request received through Internet Banking subject to availability of sufficient funds in the specified Account. ICICI Bank shall at its own sole discretion, specify from time to time, the minimum and maximum transaction size for each money order request and shall be at liberty not to accept any money order request which do not meet such specifications.

ICICI Bank shall be responsible for only accepting the money order requests from the User and communicating the request to India Post. All subsequent activities, including but not limited to, delivery of money to receiver, sending acknowledgement / refund to sender, resolution of complaints etc, will be carried out by India Post . ICICI Bank shall not be responsible for any of the abovementioned activities of India Post and does not make any representation, warranty or undertaking in respect of such activities or the service levels of India Posts in relation to such requests. The User acknowledges that there may be delays or deficiencies in service levels by third party service providers, for which ICICI Bank cannot accept any liability.

ICICI Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond its reasonable control. ICICI Bank reserves the right to charge the User for the use of the Smart Money Order facility by giving due notice on the Website about such charges. This facility is also subject to charges of India Post which will be notified on the Website from time to time. The User's Account will be debited for the total amount which would be inclusive of the amount of money order, India Post charges as applicable and ICICI Bank charges, if any.

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TRANSACTION IN DEPOSITORY ACCOUNT THROUGH INTERNET BANKING
ICICI Bank shall install adequate systems to restrict the access of the transaction statement of depository account only to the user. The user shall take all the necessary steps to ensure confidentiality and secrecy of the login name and password allotted by ICICI Bank in this regard. The user permits ICICI Bank to provide the transaction statement of the depository account through internet (web-based and/or email). The user is aware that the transaction statement may be accessed by other entities in case the confidentiality / secrecy of the login name and password is compromised. In case the user opts for transaction statement through email, it shall immediately inform ICICI Bank about change in email address, if any. ICICI Bank shall verify and confirm with the user about the change. ICICI Bank shall confirm with the user about validity of the email address atleast once in a year.

The user agrees not to receive transaction statement in paper form from ICICI Bank. Provided however that, in case, when the ICICI Bank is not able to provide transaction statement to its users through internet (web-based / email) due to any unforeseen problems, ICICI Bank should ensure that the transaction statement reaches to the user in physical form as per the time schedule stipulated in the Bye Laws & Business Rules of National Securities Depositary Limited.

The above terms are in addition to and not in contravention of the terms and conditions forming a part of the "AGREEMENT BETWEEN THE PARTICIPANT AND THE person SEEKING TO OPEN AN ACCOUNT WITH THE PARTICIPANT" signed by the user at the time of opening the account with the Depositary.

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HOT PAYMENT FACILITY
ICICI Bank provides the facility of payment for transactions executed on internet through different sites. ICICI Bank will execute such transactions only for the sites specified on its website www.icicibank.com and will be responsible for transferring the amount debited to the customer to the Account maintained by the Service Provider however it will not be held responsible for any informational content on any other site.

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AUTHORITY TO ICICI BANK FOR INTERNET BANKING
The user irrevocably and unconditionally authorises ICICI Bank to access all his Account(s) for effecting banking or other transactions performed by the user through the Internet Banking. The instructions of the user shall be effected only when such instruction is in accordance with the prescribed procedure.

ICICI Bank shall have no obligation to verify the authenticity of any transaction / instruction received or purported to have been received from the user through Internet Banking or purporting to have been sent by the user other than by means of verification of the Internet Banking user-Id and the password.

The read-out, the faxed /email output or the printed output, if any, that is received by the user at the time of operation of Internet Banking is a record of the operation of the computer by the user and shall be accepted as conclusive and binding for all purpose. All the records of ICICI Bank generated by the transactions arising out of the use of the Internet Banking, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. While ICICI Bank and the Affiliates shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. All the transactions arising through the use of the Internet Banking to operate a joint account shall be binding on all the joint account holders, jointly and severally.

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INSTRUCTIONS
All instructions for Internet Banking shall be given, through computer or any other medium/channel enabled by ICICI Bank for the purpose, by the user in the manner indicated by ICICI Bank. The user is also responsible for the accuracy and authenticity of the instructions provided to ICICI Bank and/or Affiliates and the same shall be considered to be sufficient to operate the Internet Banking. ICICI Bank shall not be required to independently verify the instructions, and the instruction shall remain effective till such time the same is countermanded by further instructions by the user. ICICI Bank shall have no liability if it does not or is unable to stop or prevent the implementation of an instruction which is subsequently countermanded. Where ICICI Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the user before acting on any instruction of the user or act upon any such instruction as it deems fit. ICICI Bank states that it has no liability or obligation to keep a record of the instructions to provide information to the user or for verifying user's instructions. ICICI Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and have the right to suspend the operations through the Internet Banking if it has reason to believe that the user's instructions will lead or expose to direct or indirect loss or may require an indemnity from the user before continuing to operate the Internet Banking.

Any instruction, order, direction, request entered using the password of the user shall be deemed to be an instruction, order, directive, request received from the user. All instructions, requests, directives, orders, directions, entered by the user, either electronically or otherwise, are based upon the user's decisions and are the sole responsibility of the user. The user understands that entering an instruction, direction, order, request with ICICI Bank, either electronically or otherwise, does not guarantee execution of such instruction, direction, order, request. ICICI Bank shall not be deemed to have received any instruction, direction, order, request electronically transmitted by the user until it confirms the receipt of such instruction, direction, order, request.

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ACCURACY OF INFORMATION
The user is responsible for the correctness of information supplied to ICICI Bank for use of the Internet Banking or through any other means such as electronic mail or written communication. ICICI Bank accepts no liability for the consequences arising out of erroneous information supplied by the user. If the user notices an not-error in the information supplied to ICICI Bank either in the application form or any other communication, he shall immediately advise ICICI Bank which will endeavour to correct the not-error wherever possible on a "reasonable efforts" basis.

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LIABILITY OF THE USER AND ICICI BANK
Neither ICICI Bank nor the Affiliates shall be liable for any unauthorised transactions occurring through the Internet Banking and the user hereby fully indemnifies and holds ICICI Bank and the Affiliates harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. ICICI Bank shall under no circumstance be held liable to the user if the Internet Banking is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Bank. Under no circumstances shall ICICI Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the user or by any other person. Illegal or improper use of the Internet Banking shall render the user liable for payment of financial charges as decided by ICICI Bank or will result in suspension of the operations through the Internet Banking.

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DISCLAIMER OF WARRANTIES
The Customer expressly agrees that use of the Website is at its sole risk. The Website is provided on an "as is" and "as available" basis.
Except as warranted in the Internet Banking Terms, ICICI Bank expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness, and any warranties relating to non-infringement in Internet Banking.

ICICI Bank does not warrant that access to the Website and Internet Banking shall be uninterrupted, timely, secure, or not-error free nor does it make any warranty as to the results that may be obtained from the Website or use, accuracy or reliability of Internet Banking.

ICICI Bank will not be liable for any virus that may enter the user's system as a result of the user using Internet Banking. ICICI Bank does not guarantee to the user or any other third party that Internet Banking would be virus free.

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INDEMNITY
In consideration of ICICI Bank providing the user the Internet Banking, the user shall, at his own expense, indemnify and hold ICICI Bank, its directors and employees, representatives, agents and/or the Affiliates, as the case may be, , indemnified against all losses and expenses on full indemnity basis which ICICI Bank may incur, sustain, suffer or is likely to suffer in connection with ICICI Bank or Affiliates' execution of the user's instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing a service through Internet Banking for any action taken or omitted to be taken by ICICI Bank and /or the Affiliates, its officers, employees or agents, on the instructions of the user. The user will pay ICICI Bank and /or the Affiliates such amount as may be determined by ICICI Bank and/or the Affiliates to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.

Further, the user agrees, at its own expense, to indemnify, defend and hold harmless ICICI Bank, its directors and employees, representatives, agents, and its Affiliates against any claim, suit, action or other proceeding brought against ICICI Bank, its directors and employees, representatives, agents, and Affiliates by a third party, to the extent that such claim, suit, action of other proceeding brought against ICICI Bank, its directors and employees, representatives, agents, and Affiliates is based on or arises in connection with the user of Internet Banking with reference to:

(i) a violation of the Internet Banking Terms contained herein by the user;
(ii) any deletions, additions, insertions or alterations to, or any unauthorized use of, Internet Banking by the user;
(iii) any misrepresentation or breach of representation or warranty made by the user contained herein; or
(iv) any breach of any covenant or obligation to be performed by the user hereunder. The user agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.
The user hereby agrees that under no circumstances, ICICI Bank's aggregate liability for claims relating to Internet Banking, whether for breach of in tort (including but not limited to negligence) shall be limited to the transaction charges/fees or consideration paid by the user within the previous twelve (12) months for Internet Banking, excluding any amount paid towards transactions.

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DISCLOSURE OF INFORMATION
The user agrees that ICICI Bank and/or Affiliates or their contractors may hold and process his personal Information and all other information concerning his Account(s) on computer or otherwise in connection with the Internet Banking as well as for analysis, credit scoring and marketing. The user also agrees that ICICI Bank may disclose, in strict confidence, to other institutions, such personal Information as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognised credit scoring agencies, or for fraud prevention purposes.

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CHANGE OF TERMS
ICICI Bank shall have the absolute discretion to amend or supplement any of the Terms at any time and will endeavour to give prior notice of fifteen (15) days for such changes wherever feasible. Such change to the Internet Banking Terms shall be communicated to the user. By using any new services as may be introduced by ICICI Bank, the user shall be deemed to have accepted the changed Terms.

 

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NON-TRANSFERABILITY
The grant of Internet Banking to a user is not transferable under any circumstance and shall be used only by the user.

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TERMINATION OF INTERNET BANKING
The user may request for termination of the Internet Banking any time by giving a written notice of at least fifteen (15) days to ICICI Bank. The termination shall take effect on the completion of the fifteenth (15th) day. The user will remain responsible for any transactions made through the Internet Banking until the time of such termination. For the access of Depository Account through Internet Banking user and ICICI Bank shall have the right to terminate the applicability Clause 11 of this agreement after giving a notice of at least 10 days to the other party.

ICICI Bank may withdraw or terminate the Internet Banking anytime either entirely or with reference to a specific service or user; or in case of breach of Terms by the user without a prior notice; or if it learns of the death, bankruptcy or lack of legal capacity of the user. Clause 13 & 16 shall survive the termination of the Internet Banking for any reason whatsoever.

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NOTICES
Notices under these Internet Banking Terms may be given by ICICI Bank and the user in writing by delivering them by hand or by sending them by post to the last address given by the user and in the case of ICICI Bank to its corporate office address as set out hereinabove. In addition, ICICI Bank may also publish notices of general nature, which are applicable to all users in a newspaper or on its web site located at www.icicibank.com. Such notices will have the same effect as a notice served individually to each user. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.

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GOVERNING LAW
These Internet Banking Terms and/or he operations in the Accounts of the user shall be governed by the laws of India. The Parties hereby agree that any legal action or proceedings arising out of the Internet Banking Terms shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Internet Banking Terms in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of the Internet Banking Terms which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Internet Banking Terms or affect such provision in any other jurisdiction.

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APPLICABILITY TO FUTURE ACCOUNTS
ICICI Bank and the user agree that if the user opens further Accounts with/subscribes to any of the products/services of ICICI Bank or any of the Affiliates, and ICICI Bank extends the Internet Banking to such Accounts or products or services and the user opts for use thereof, then the Terms shall automatically apply to such further use of the Internet Banking by the user.

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GENERAL
The clause headings herein are for only for convenience and do not affect the meaning of the relative clause. ICICI Bank may sub-contract and employ agents to carry out any of its obligations under this contract. Internet Banking service would be available to the users in certain cities only and during timings specified by ICICI Bank from time to time and transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction. The user would have to ensure that the equipment used for availing of Internet Banking meets the criteria as may be specified by ICICI Bank from time to time. All costs incurred by the user including telecommunication costs to use the Internet Banking would be borne by the user.

As a tool to correct misunderstandings, the user understands, agrees and authorises ICICI Bank, at its discretion, and without further prior notice to the user, to monitor and record any or all telephone conversations or electronic communications between the user and ICICI Bank and any of its employees or agents.

These Internet Banking Terms contain ICICI Bank's entire agreement (except as otherwise expressly provided herein) and supersede and replace any previously made proposals, representations, understandings and agreements, express or implied, either oral or in writing between the user and ICICI Bank for Internet Banking. The user acknowledges that it has not relied on any representation made by ICICI Bank or any of its employees or agents and has made its own independent assessment of Internet Banking. No third party will have any rights or claims under these Internet Banking Terms.

(i) ICICI Bank and its Group Companies (As defined Section I hereof) shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any accounts of the User/s, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of ICICI Bank and/or its Group Companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the User/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of any of ICICI Bank's or its Group Companies’ services extended to and/or used by the User/s and/or as a result of any other facilities that may be granted by ICICI Bank and/or its Group Companies to the User/s. ICICI Bank and/ or its Group Companies are entitled without any notice to the User/s to settle any indebtedness whatsoever owed by the User/s to ICICI Bank and/or its Group Companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the User/s with ICICI Bank and/or its Group Companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank or its Group Companies’ rights hereunder, shall not be affected by the User/s’ bankruptcy, death or winding-up. It shall be the User/s’ sole responsibility and liability to settle all disputes/ objections with any such joint account holders.

(ii) In addition to the above mentioned right or any other right which ICICI Bank and its Group Companies may at any time be entitled whether by operation of law, contract or otherwise, the User authorises ICICI Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the User with or to any branch of ICICI Bank and/or its Group Companies; (b) to sell any of the User/s’ securities or properties held by ICICI Bank by way of public or private sale without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to ICICI Bank and/or it Group Companies from the User/s, including costs and expenses in connection with such sale; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of ICICI Bank and/or its Group Companies.

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ASSIGNMENT
ICICI Bank shall be entitled to sell, assign, securitise or transfer ICICI Bank's rights and obligations under the Internet Banking Terms and any security being in favour of ICICI Bank (including all guarantee/s) to any person of ICICI Bank's choice in whole or in part and in such manner and on such terms and conditions as ICICI Bank may decide. Any such sale, assignment, securitisation or transfer shall conclusively bind the user and all other persons. The user, his heirs, legal representatives, executors, administrators and successors are bound by the Terms. ICICI Bank may sub-contract and employ agents to carry out any of its obligations under this contract. However, the user shall not be entitled to transfer or assign any of his rights and obligations hereunder.

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RIGHT OF SET-OFF AND LIEN
ICICI Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future, on the deposits/scrips held in the Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the Internet Banking extended to and/ or used by the user.

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PROPRIETARY RIGHTS
ICICI Bank shall make reasonable efforts to advise from time to time the Internet software such as browsers which are required for availing of Internet Banking. There will be no obligation on ICICI Bank to support all or any versions of the Internet software as may be required for offering Internet Banking. The user acknowledges that the software underlying the Internet Banking as well as other Internet related software which are required for accessing Internet Banking are the legal property of the respective vendors. The permission given by ICICI Bank to access Internet Banking will not convey any proprietary or ownership rights in such software. The user shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Internet Banking or create any derivative product based on the software.

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COMMUNICATIONS THROUGH ELECTRONIC MEANS
Documents sent by electronic delivery will contain all the information as it appears in the printed hard copy version as prepared and distributed by the originator, with the possible exception of graphic insertions such as photographs or logotypes. Electronic delivery may be in the form of an electronic mail, an attachment to the electronic mail, or in the form of an available download from the Website. ICICI Bank would be deemed to have fulfilled its legal obligation to deliver to the user any document if such document is sent via electronic means. Failure to advise ICICI Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document.

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INDEMNITY FOR INSTRUCTIONS / AUTHORIZATIONS ETC. RECEIVED THROUGH E-MAIL / VERSIONS
I/we ( the “User/s”) are desirous of communicating our requests/ instructions/ authorizations or otherwise dealing with ICICI Bank, in relation to the Account/s, through the means of instructions delivered to ICICI Bank by electronic mail through internet (e-mail)/ copies received through ICICI Bank’s internet banking portal (the “Instructions”) and in consideration of ICICI Bank agreeing to accept and act on such Instructions, User/s hereby agree to indemnify ICICI Bank and keep ICICI Bank indemnified and saved harmless from all claims, losses, damages, costs including legal expenses which ICICI Bank may incur or suffer on account of accepting User/s Instructions as above and/or as a result of the Instructions and/or as a result of accepting and acting (or not accepting or omitting to act) upon all or any of the Instructions given or deemed to have been given or purportedly given by User/s. This indemnity shall bind the User/s severally or/and jointly.

User/s further agree, undertake and acknowledge as follows:
1. That ICICI Bank is not bound to accept and/or act upon any of the Instructions;

2. That without prejudice to the generality of the above, ICICI Bank would not be required to act upon the Instructions if in the opinion of any concerned officer of ICICI Bank, such Instructions are unclear and/or ambiguous. The decision of such officer and all actions pursuant thereof shall be conclusive and binding on User/s. User/s further agree, undertake and acknowledge that User/s shall be bound by ICICI Bank’s interpretation of any Instruction and the actions undertaken by ICICI Bank pursuant thereof;

3. That transmission of information through electronic mail through internet (e-mail)/copies is not a secure means of sending information and may be subject to tampering and unauthorised access, fraudulently or mistakenly written, altered or sent or uploaded, not be received in whole or in part by the intended recipient, may reach ICICI Bank in a jumbled state or in a manner or shape that it may be misunderstood;

4. That User/s shall be bound by all or any of ICICI Bank’s actions pursuant to the Instructions even if such Instruction/s has/have been countermanded by a subsequent Instruction or any written order or direction of User/s;

5. That User/s shall not hold ICICI Bank (which term for the purposes of this clause includes ICICI Bank’s employees, directors and third party agents) liable for any act or omission of ICICI Bank pursuant to this request or the Instructions. Without prejudice to the generality of the aforesaid, User/s shall not hold ICICI Bank liable for any inaccuracy, not-error or delay in, or omission of, the receipt of any Instruction or arising out of “force majeure” or any loss or damage arising from or occasioned by any such inaccuracy, not-error, delay or omission. ICICI Bank shall also not be liable for any losses or damages suffered or incurred by User/s due to an act or omission of ICICI Bank attributable to tampered and/or unauthorised Instructions, Instructions that are fraudulently or mistakenly written, altered or sent uploaded, or as a result of Instructions that may not be received in whole or in part by ICICI Bank;

6. That ICICI Bank is authorized to charge against any of User/s account/s, including the Account/s, (and are authorized to debit such accounts) any sum of money that is due and payable in connection with a transaction carried out by ICICI Bank, including bank charges for such transactions, in reliance on an Instruction and/or which are due and payable pursuant to the indemnity undertaking herein;

7. That every Instruction should be sent as per ICICI Bank’s current prescribed form and/or format (if any) applicable to the particular transaction. If an Instruction is sent otherwise than on the prescribed form and/or format and is accepted, such Instruction shall be subject to the terms and conditions of the prescribed form and/or format. User/s further agree to comply with such authentication procedures as ICICI Bank may prescribe from time to time for purposes of issuing Instruction/s. If User/s or one of User/s representatives is/are of the opinion or has/have the reason to believe that the authentication procedure may be known by an unauthorized person, User/s undertake to notify ICICI Bank immediately;

8. That if ICICI Bank receives an Instruction that purports to have been properly transmitted or authorized by User/s, or on User/s behalf and User/s current authentication procedure has been used, then ICICI Bank may rely on that Instruction/s on an as is basis and shall not be obliged to make any further enquiries and verification and such Instruction will be deemed effective as a valid Instruction by User/s;

9. That ICICI Bank may, at its discretion, give notice to User/s that ICICI Bank shall not accept further Instructions and this notice shall be deemed to be effective against User/s immediately in case ICICI Bank sends the notice through fax or after two (2) days in case the notice is sent by post/ courier;

10. That upon ICICI Bank’s request, User/s shall confirm in writing every Instruction within 48 hours of sending the Instruction.

This indemnity will continue to be in force and effect till ICICI Bank terminates the same in writing.

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Section VIII - Additional Terms
The Additional Terms, as contained below, shall mean and include the following services and/ or facilities offered by ICICI Bank and shall be in addition to and not in derogation of the Terms (as contained in Section I hereof) and other applicable terms and conditions stipulated by ICICI Bank on its Website from time to time:

Terms and Conditions the e-Instruction Facility of ICICI Bank Limited;
Terms and Conditions for Re-designation of Resident Account(s) to NRO Account(s);
Terms and Conditions for eRM Service; and
Terms and Conditions for Concierge Services.
Terms and Conditions the e-Instruction Facility of ICICI Bank Limited

DEFINITIONS "Affiliate" of ICICI Bank shall mean and include: (a) any company which is the holding company or subsidiary of ICICI Bank; or (b) a Person under the control of or under common control with ICICI Bank; or (c) any Person, in 26% or more of the voting securities of which ICICI Bank has a direct or beneficial interest or control.

For the purpose of this definition of Affiliate, "control" together with grammatical variations means the power to direct the management and policies of a Person, directly or indirectly, whether through the ownership of the vote carrying securities, right to appoint member(s) to the Board of Directors by contract or otherwise howsoever; and "Person" means a company, corporation, a partnership, trust or any other entity or organisation or other body whatsoever.

"Agreement" shall mean these terms in relation to the e-Instruction Facility and shall include any modification or amendment hereof, in accordance with the terms hereof.

"Client" shall mean a person who has executed a Power of Attorney, in a form, substance and manner, acceptable to ICICI Bank, and agreed and affirmed acceptance of this Agreement.

"Client ID" means the user identification provided to the Client by ICICI Bank to enable access/operation of the e-Instruction Facility;

"Client Password" means the passwords, digital signatures or other means of authentication as ICICI Bank may specify, from time to time provided to the Client or otherwise used by the Client for access and operation of the e-Instruction Facility, using which the Client may authorise or authenticate the Transactions;

"e-Instruction Facility" refers to the services offered by ICICI Bank in accordance with this Agreement, pursuant to which a Client can generate/ send/ give /issue orders, instructions, directions or mandate to ICICI Bank for execution of Transactions and for operation of the Accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank given by or through any means of communication, (including facsimile communication, voice, video or text based communications via the telephone, mobile telephony, SMS, email, internet/website based communications) or such other means of communications now existing or hereafter offered/established or being availed of, and such further/other means of communication which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing communication facilities from time to time.

"ICICI Bank" or “Bank” means ICICI Bank Limited and/or, as the context may require its Affiliate.

"Instruction" means orders, instructions, directions or mandate generated/ sent/given /issued by the Client to ICICI Bank in accordance with this Agreement by or through any means of communication (including without limitation, facsimile communication, voice, video or text based communications via the telephone, mobile telephony, SMS, email, internet/website-based communications) or such other means of communications now existing or hereafter offered/established or being availed of, and such further/other means of communication which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing communication facilities from time to time,.

"Personal Information" means the information provided by the Client to ICICI Bank in the application form for availing any of the products/accounts (including demat/savings/fixed deposit/other accounts) and/ or services, as provided by ICICI Bank and availed of by the Client from time to time;

"Transaction" means any transaction including but not limited to transactions for purchase, sale , investment, or order for purchase or sale of or application for any offer or public/rights/private placement issue of shares, derivatives (including but not limited to, forwards, futures, swaps and options, funded margin), scrips, stocks, bonds (including Relief Bonds, corporate and government bonds), debentures, promissory notes, securities, mutual fund units (including units of the Unit Trust of India), units of any collective investment scheme or any other security or financial instrument, annuities or other mercantile negotiable instruments or for subscription/application of moneys towards the Public Provident Fund (or other pension fund or scheme) and to apply for fixed/term/other deposits of banks, non-banking financial companies & non-banking non-financial companies , or application for any loan/investment/ banking product or service offered by ICICI Bank, now existing or hereafter offered/established or being availed of, and such further/other transactions which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing Transactions from time to time.

"Website" means the website hosted by ICICI bank at www.icicibank.com.

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INTERPRETATION
All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation". All Transactions are entered into in reliance on the fact that this Agreement and all other terms and conditions that may be specified for usage of the e-instruction Facility are to be read together.

Words importing any gender include the other gender.

Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force;

All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of this Agreement;

Reference to a person includes a natural person, body corporate, unincorporated association, government or governmental, semi governmental or municipal entity; and reference to a party means a party to this Agreement and includes that party's successors, legal personal representatives and permitted assignees.

NOTICES
ICICI Bank may give notice to Client electronically at the mailbox of the Client or in writing by delivering them by hand or by sending them by post to the last address given by the Client.

In addition, ICICI Bank may also publish notices of general nature on its Website, which are applicable to all Clients. Such notices shall have the same effect as a notice served individually to each Client.

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AUTHENTICATION PROCEDURE
The Client shall comply and confirm with the prescribed requirements for the purposes of due authentication as shall be stipulated by ICICI Bank from time to time, including without limitation, the following:

The Client agrees to confirm to the prescribed authentication technologies/ procedures and security measures required for Transactions and undertakes to take all reasonable steps to ensure that the Client Password and Client ID and/or other identification tools provided to the Client by ICICI Bank, are not revealed to any third Party. If third parties gain access to the Client's accounts/ details/ Personal Information, Client will be responsible and indemnify ICICI Bank against any liability, costs or damages arising out of claims or suits by such third parties based upon or relating to such access and use.

The Client must modify the Client Passwords when availing of the e-Instruction Facility for the first time.

The Client is entirely responsible for the safekeeping and use of the Client ID and Password and/or other identification tools provided/ specified to the Client by ICICI Bank, and any damages and other consequences of their misuse. As a precautionary measure, the link with the e-Instruction Facility will be interrupted after three wrong entries of the Client Password and/or the ID.

ICICI Bank has no obligation to verify the authenticity of any Transaction instruction sent or purported to have been sent from the Client other than by means of verification of the Client Password and Client ID and/or other identification tools provided/ specified to the Client by ICICI Bank. The Client accepts full responsibility for the monitoring and safeguarding of Client's accounts/ details/ Personal Information.

ICICI Bank shall advise the Client that it must:

Keep the Client ID and Client password and/or other identification tools provided/ specified to the Client by ICICI Bank confidential and not reveal them to any third party;

Choose a password which shall be at least 8 characters and does not relate to any readily accessible personal data such as name, address, telephone number, etc. of the Client or any other easy combination of letters and numbers;

Commit the Client ID and Client Password and/or other identification tools provided/ specified to the Client by ICICI Bank to memory, and not record them in written or electronic form;

Not let any unauthorised person have access to its computer and not to leave the computer unattended whilst accessing any product and/or service or the Website vides an online instruction facility.

If the Client forgets or loses the Client ID or Client Password and/or other identification tools provided/ specified to the Client by ICICI Bank, the Client can request for change of the Client Password or Client ID and/or other identification tools provided/ specified to the Client by ICICI Bank by sending a duly authorised written request to ICICI Bank. All Transactions carried out by use of the Client ID and Client Passwords and/or other identification tools provided/ specified to the Client by ICICI Bank shall be deemed to be done or authorised by the Client.

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FOREIGN JURISDICTION
ICICI Bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of India. The mere fact that the Website can be accessed by a person in a country other than India would not mean that the laws of the said country would govern the e-Instruction Facility and any matter related to hereunder.

The e-Instruction Facility shall not be available to foreign residents where the e-Instruction Facility cannot be offered without prior regulatory compliance. It shall be the sole responsibility of foreign residents to verify whether the e-Instruction Facility can be legally accessed and/or utilised in their respective jurisdictions.

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GOVERNING LAW AND JURISDICTION
The provisions of these Terms and Conditions shall be governed by, and construed in accordance with Indian law. The Parties hereby agree that any legal action or proceedings arising out of this Agreement shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in their absolute discretion commence any legal action or proceedings arising out of this Agreement in any other court, tribunal or other appropriate forum, and Client hereby consents to that jurisdiction.

Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of this Agreement or affect such provision in any other jurisdiction.

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privacy POLICY
In the process of using this Website and / or executing any Instruction/ Transaction on behalf of the Client, ICICI Bank may be privy to information relating to the Client, including information that is of a confidential nature. ICICI Bank is strongly committed to protecting the privacy of its clients and has taken steps to protect the information furnished to it. ICICI Bank has taken all necessary measures to protect the confidentiality of the information and its transmission under the e-Instruction Facility and it shall not be held liable for disclosure of the confidential information, unless gross negligence is established on the part of ICICI Bank.

The Client shall not disclose, in any manner whatsoever, any information relating to ICICI Bank of a confidential nature obtained in the course of availing the e-Instruction Facility, to any other person. Failure to comply with this obligation shall be deemed a serious breach of these Terms and Conditions and shall entitle ICICI Bank to terminate the e-Instruction Facility without prejudice to any damages to which it may be entitled. ICICI Bank undertakes not to disclose the information provided by the Client to any person, unless acting under good faith that such action is necessary to:

(i) Conform to legal requirements or comply with legal process;

(ii) protect and defend our rights or property;

(iii) Enforce these Terms and Conditions; or

(iv) Act to protect the interests of our members or others.

ICICI Bank may also use information including the personal information of the Client for the purposes of providing e-Instruction Facility, and share the information with third parties for provision of the e-Instruction Facility and any service-related activities related thereto, and notifying or contacting the Client regarding any problem with, or the expiration of, such e-Instruction Facility. In this regard, it may be necessary to disclose the personal information to one or more agents and contractors of ICICI Bank and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from ICICI Bank only for these purposes.

The Client authorises ICICI Bank to exchange, share, part with all information related to the details and transaction history of the Client to its Affiliates, banks / financial institutions / credit bureaus / agencies as may be required by law or customary practice and shall not hold ICICI Bank liable for use or disclosure of this information.

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RELATIONSHIP BETWEEN PARTIES
The Parties agree that no partnership, employment, or agency relationship exists between them as a result of availing the e-Instruction Facility. All Transactions shall be entered into by the Parties as principals and ICICI Bank and/or ICICI Bank Affiliates shall have no fiduciary duty towards the Client whatsoever notwithstanding that there may be an existing relationship between the Parties.

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REPRESENTATION BY THE CLIENT
The Client represents to ICICI Bank (which representations will be deemed to be repeated by the Client on each date on which a Transaction is entered into) that:-

The Client has the power to perform its obligations hereunder and has taken all necessary action to authorise such execution, delivery and performance; It shall be the sole responsibility of the Client to comply with all the internal approvals, if any, for entering into Transactions as may be required.

Such execution, delivery and performance does not violate or conflict with any law applicable to it and/or any regulatory requirements, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;

There is not pending or, to its knowledge, threatened against the Client any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it of these Terms and Conditions or its ability to perform its obligations; and

All applicable information that is furnished in writing, by or on behalf of the Client, to ICICI Bank is, as of the date of the information, true, accurate and complete in every material respect. Provided that the Client shall intimate ICICI Bank of any change in any regulatory requirements, the effect of which may be to restrict or prohibit the Client from executing any Transaction.

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TERMINATION EVENTS
This e-Instruction facility may be terminated by mutual consent of the Parties by giving at least one (1) month written notice. The termination of the e-Instruction facility shall be without prejudice to the execution of all outstanding Transactions entered into between the Parties. ICICI Bank shall be entitled to receive all fees and other monies becoming due up to the date of such termination. ICICI Bank shall be entitled to deduct any sum payable to it from any amounts ICICI Bank may have to remit to the Client on termination of the e-Instruction facility. ICICI Bank reserves the right to interrupt, suspend or terminate, at any time, without specifying any reason, the access of the Client to the e-Instruction Facility offered hereunder and will make best efforts to give the Client appropriate notice of the same. The occurrence at any time with respect to a party of any of the following events constitutes an event of default and the e-Instruction Facility may be terminated forthwith:-

Failure by the party to make, when due, any payment required to be made by it, and if such failure is not remedied on or before the third Business Day after notice of such failure is given to the Party;

Failure by the party to comply with or perform any obligation under the terms and conditions specified hereunder and if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party;

A representation made or deemed to have been made by the parties proves to have been incorrect or misleading in any material respect when made or deemed to have been made;

In the event of the client:-

(1) having a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger), as applicable ;

(2) becoming insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due, as applicable,;

(3) making a general assignment, arrangement or composition with or for the benefit of its creditors, as applicable,;

(4) instituting or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditor's rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceedings or petition (A) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof, as applicable,;

(5) seeking or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or in respect of all or substantially all its assets, as applicable,;

(6) having a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter, as applicable,;

(7) causing or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in clauses (1) to (7) (inclusive); (8) taking any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts.

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LIMITATION OF LIABILITY

ICICI Bank shall not be liable for any inaccuracy, not-error or delay in, or omission of, (1) any data, information or message, or (2) the transmission or delivery of any such data, information or message; or (3) any loss or damage arising from or occasioned by (i) any such inaccuracy, not-error, delay or omission, (ii) non-performance, or (iii) interruption in any such data, information or message, due either to any act or omission by ICICI Bank due to "force majeure" (e.g., flood, extraordinary weather condition, earthquake or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government, communications, power failure, equipment or software malfunction) or any other cause beyond the reasonable control of ICICI Bank.

The Client will immediately notify ICICI Bank in writing, delivered via e-mail or registered post, if Client becomes aware of any loss, theft or unauthorised use of Client's Passwords and ID; or any failure by Client to receive a message from ICICI Bank indicating that an order was received and executed; or any failure by Client to receive an accurate written confirmation of an execution; or any receipt by Client of confirmation of an order and/ or execution which Client did not place; or any inaccurate information in Client's depository participant account balances, securities positions, or Transaction history. If Client fails to notify ICICI Bank immediately upon Client's knowledge when any of the above conditions occur, neither ICICI Bank nor any of its officers, directors, employees, agents can or will have any responsibility or liability to Client or to any other person whose claim may arise through the Client for any claims with respect to the handling, mishandling or loss of any order. ICICI Bank will upon notice, halt or take such steps as are necessary to protect the Client's interest and which steps are capable or permitted for ICICI Bank to do or undertake. Prior to giving of the notice, any loss or damage shall be to the Client's account.

Under no circumstances, shall ICICI Bank, its employees, directors, and its third party agents involved in creating, producing, delivering or managing the e-Instruction Facility, be liable for any direct, indirect, incidental, special or consequential damages, or any damages whatsoever, including punitive or exemplary (including, but not limited to, damages caused by any virus, personal injury, negligence, loss of profits, loss of data or other intangible information, business interruption, loss of privacy, or any pecuniary loss), arising out of or in any way connected with the use/delivery/performance of the Website, the delay or inability to use the Website or any links or items on the Website, the provision of or any inadequacy or deficiency in the provision of services or resulting from unauthorized access or alteration of transmissions or data or arising from interruption, suspension or termination of the e-Instruction Facility or for any loss arising from the failure by the Client to comply with any software installation instructions or any inability of ICICI Bank to receive instructions, directions, orders or other communications from the Client or to transmit any related message for any reason whatsoever, whether based on contract, tort, strict liability or otherwise.

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INTERRUPTION OF SERVICE
Where the e-Instruction Facility provided herein is interrupted for any reason whatsoever, the Client may contact ICICI Bank. ICICI Bank shall in no way be liable for the consequences of any interruption in the e-Instruction Facility.

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RECEIVING CLIENT'S SECURITIES/ MONIES
ICICI Bank shall keep all securities/monies and other properties belonging to the Client in separate accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank or segregated from its own assets and shall not use the same for any purpose other than as directed by the Client or authorised under these Terms and Conditions or as required by rules, regulation or law for time being in force. ICICI Bank undertakes that a transfer to and from the accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank shall be made on the basis of order, instruction, direction or mandate, either standing or specific, duly authorised by the Client.

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RIGHT TO ALTER THE SERVICES
ICICI Bank reserves the right to add, amend, revise, suspend or cancel in whole or in part any of the e-Instruction Facility available through the Website, and will make best efforts to provide appropriate notice to the Client. Any addition, suspension, revision, amendment, cancellation or suspension of the terms as notified on the Website may be made by ICICI Bank, by causing a notice of the same to be posted on the Website and the Client shall be deemed to have accepted the same in the event of its executing any transaction through the Website after the addition, suspension, revision, amendment, cancellation or suspension has been notified. ICICI Bank may introduce new services in relation to the Website from time to time. The existence and availability of the new e-Instruction Facility will be notified on the Website, as and when they become available.

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EXECUTION OF THE INSTRUCTIONS, ETC.
The Client agrees to provide ICICI Bank, if so being required to do or if in case it is deemed necessary by ICICI Bank, with a power of attorney in such form, manner or substance as ICICI Bank may require.

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DEDUCTION OR WITHHOLDING FOR TAX.
All payments due to ICICI Bank arising under or in respect of these Terms and Conditions will be made free of any deduction or withholding of any tax. All payments by ICICI Bank arising under or in respect of these Terms and Conditions will be made subject to deduction or withholding of taxes as applicable.

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CLOSURE OF THE ACCOUNT
The Client agrees that it shall be able to exercise the right to close/freeze the accounts (including demat/savings/fixed deposit/other accounts) with ICICI Bank, only if there is no obligation pending to be met by the Client towards either ICICI Bank and/or ICICI Bank Affiliates.

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RIGHTS GRANTED
The Client hereby acknowledges and agrees that any rights not expressly granted herein are reserved by ICICI Bank.
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AMENDMENTS AND MODIFICATIONS

ICICI Bank has the absolute discretion to amend or supplement the Terms and Conditions herein, by modifying or rescinding any of the existing provisions or conditions or by adding any new provision or condition, by conspicuously posting notice of such amendment on the Website or by providing written notice to the Client. Continued use of ICICI Bank e-Instruction Facility after such notice will constitute acknowledgment and acceptance of such amendment.

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SURVIVAL OF OBLIGATIONS
The obligations of the Parties under these Terms and Conditions shall survive the termination of any Transaction

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REMEDIES CUMULATIVE
Except as provided in these Terms and Conditions, the rights, powers, remedies and privileges provided in these Terms and Conditions are cumulative and not exclusive of any rights, powers, remedies and privileges provided by law.

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NO WAIVER OF RIGHTS
A failure or delay in exercising any right, power or privilege in respect of these Terms and Conditions will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise, of that right, power or privilege or the exercise of any other right, power or privilege.

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SEVERABILITY

If any provision or condition of these Terms and Conditions shall be held to be invalid or unenforceable by reason of any law, rule, administrative order or judicial decision by any court, or regulatory or self-regulatory agency or body, such invalidity or unenforceability shall attach only to such provision or condition. The validity of the remaining provisions and conditions shall not be affected thereby and these Terms and Conditions shall be carried out as if any such invalid or unenforceable provision or condition was not contained herein.
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HEADINGS
The clause headings in these Terms and Conditions are only for convenience and do not affect the meaning of the relative term.
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LEGALITY OF THE TERMS AND CONDITIONS

ICICI Bank's performance of these Terms and Conditions is subject to existing laws and legal process, and nothing contained in these Terms and Conditions is in derogation of ICICI Bank's right to comply with governmental, court and law enforcement requests or requirements relating to the use of the e-Instruction Facilities by the Client or information provided gathered by ICICI Bank in respect of such use.
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Terms and Conditions for Re-designation of Resident Account(s) to NRO Account(s)


If the resident account is inactive or dormant, the request for re-designation shall be treated as application to activate the account with the NRI status.

Upon receipt of customer's request for change in status to Non-resident in the accounts, the existing deliverables like international debit cards shall be hot listed and new ATM card/domestic debit card shall be reissued. The customer may continue using the existing cheque book.

In case of change in address in the account, documentary proofs for the same have to be submitted as per the prevailing bank policy subject to revision from time to time. The overseas address proof is mandatory for the primary holder.

Further, in case the address of the existing resident account differs from the NRI address proof documents submitted by the primary holder, the address shall updated based on the documentary proofs submitted.

After re-designation of account into NRO, the TDS rate on interest offered on such deposits shall be as per NRO guidelines.

All the holders who have become NRIs need to submit the KYC documents as per NRI KYC policy at the time of re-designation to NRO. Customer needs to provide the date of becoming NRI, in the absence of which the date of execution of request shall be recorded as date of conversion.

The Customer shall be automatically registered for the internet banking service provided by the Bank if the Customer was not a registered user of the internet banking services as a resident. The relevant internet banking terms and conditions shall be applicable to the Customer.


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Terms and Conditions for eRM Service Applicable for NRI PREMIA Account


ICICI Bank Limited (“ICICI Bank”) is incorporated in India and regulated by the Reserve Bank of India ("RBI") and maintains its corporate office in Mumbai, India. Product and services provided by ICICI Bank are subject to product specific terms and conditions. Please familiarize yourself with the applicable terms and conditions, available at www.icicibank.com, in addition to the information rendered by the eRM. The products and services as mentioned are also subject to RBI rules/regulations and/or other applicable laws. This activity should not be construed as solicitation by ICICI Bank and/or its Affiliates/group companies.

The information provided by the eRMs is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. The facility of eRM is at the sole discretion of ICICI Bank and can be withdrawn with or without notice. The information provided by the eRM should not be construed as advice being provided by the eRM or ICICI Bank. Any references to the time of response or other service levels are only indicative and should not be construed to refer to any commitment by ICICI Bank or any other service provider acting for ICICI Bank. ICICI shall not be liable for any delay in the response. The use of any information set out herein is entirely at the recipient's own risk. Customer shall not be entitled for the eRM facility if he has registered/ himself on the Do Not Call service or has applied for the registration of the Do Not Call service. ICICI Bank shall not provide eRM service to the customer if the Bank is unable to access/ contact the customer in the first five attempts. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Depending on your current or permanent country of residence some of the products and services might not be available to you. Please contact us for more details.
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Terms and Conditions for Concierge Service

Available in select cities only.

The concierge service (the “Concierge Services”) is provided by a third party and is availing the same binds a Customer to the terms and conditions made applicable to the Concierge Services by such third party.

ICICI Bank does not offer the Concierge Services and is not representative of the delivery, quality and sustainability of products/ services availed from the Concierge Services provider. Any disputes as regards delivery, quality and sustainability of products/ services availed under the concierge Services must be addressed in writing to the Concierge Service provider directly and ICICI Bank shall not responsible for addressing any communication in this regard. The Concierge Services provider reserves the right to decline fulfillment of any NRI Premia Account holder’s request that is outside of the scope of Concierge Services, as agreed with ICICI Bank.

NRI Premia Account holder will be required to pay for any purchase/ booking that they have agreed to accept, once that request has been fulfilled by the Concierge Services provider. Payments should be made with your valid ICICI Bank debit / credit Card. ICICI Bank or the Concierge Service provider will not be responsible for any third party expenses incurred and such expenses shall be borne by the NRI Premia Account holder only.
Additional terms and conditions may apply to a particular service or benefit or as may be specified from time to time. ICICI Bank reserves the right to disqualify any NRI Premia Account holder(s) from the benefits of the Concierge Services. In case of any fraudulent activity, prosecution will be carried out according to the purpose of availing the benefits under the Concierge Services.

ICICI Bank reserves the right to modify/ change all or any of the terms applicable to the Concierge Services without assigning any reasons or without any prior whatsoever or to discontinue the Concierge Services without assigning any reasons or without any prior intimation whatsoever intimation to the Customer.

 

Global Indian Account

ICICI Bank Limited is incorporated in India and regulated by the Reserve Bank of India ("RBI") and maintains its head office in Mumbai, India. The product and services mentioned above are provided by ICICI Bank and ICICI UK PLC and is subject to product/service specific terms & conditions. The details of such terms and conditions are available on www.icicibank.com/nri or www.icicibank.co.uk or at any branch of ICICI Bank in India. The products and services mentioned in this advertisement are also subject to RBI and FSA rules and other applicable laws and regulations. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank.

Issued and Approved for the purpose of Section 21 of the Financial Services and Markets Act, 2000 by ICICI Bank UK PLC (Company No. 04663024) having its registered office at 21 Knightsbridge, London SW1X 7LY. ICICI Bank UK PLC is authorised and regulated by the Financial Services Authority. It is subject to the laws of England and Wales. ICICI Bank UK PLC is a 100% owned subsidiary of ICICI Bank Limited. ICICI Bank Limited is regulated and authorised to take deposits in India by the Reserve Bank of India. Terms and Conditions apply for all products and services. This advertisement is not intended to nor should it be construed to represent that ICICI Bank UK PLC or its affiliates provide products or services in jurisdictions where they are not licensed or registered to do so.
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