Terms and Conditions

I. Terms & Conditions for establishing relationship and Operating Accounts (For Resident Individuals)

1. Establishing a Relationship

1.1  Applicant(s) desiring to open a Relationship need(s) to sign a Relationship form and declare therein that he/she/they has/have agreed to abide by the rules which are in force from time to time.

1.2  Applicant is required to furnish Identity Proof and Address proof as follows while establishing a banking relationship with the Bank :

Identity Proof

Verified true copy of valid passport
Or
Letter from existing bank
Or
Valid driving license
Or
Valid employee identity card
Or
Valid PAN card
Or
Valid photo credit card along with the current billing cycle (latest) statement
Or
True copy of valid arms license issued by Govt of India/State govts/Union territory with photograph
Or
Valid pension book
Or
Valid freedom fighter's pass issued Home Ministry of Government of India

Proof of communication address

Latest electricity bill
Or
Latest telephone bill
Or
Latest statement of account from a credit card issuing company
Or
Letter from employer certifying the residential address of the employee as recorded in their books
Or
Latest premium receipt from any life insurance company
Or
Current lease agreement
Or
Consumer gas connection card
Or
Certificate from ward officer, maintaining election roll, certifying address of the applicant
Or
Latest certificate (not more than 3 months old) from the postal office confirming address of the applicant
Or
Residential certificate mentioning name and address of the applicant issued by municipal corporation/local body etc


If any women applicant is unable to furnish proof of identity and address in her own name Women Account can still be opened, if one of the following criteria is met: -

1.3  As per extant Reserve Bank of India (RBI) guidelines, which are mandatory, photographs of all applicant(s) / Power of Attorney holders (i.e. who are authorised to operate the account(s) under the Relationship) should be furnished to the Bank.

1.4  As per extant Government of India (GOI) guidelines, PAN No. / Form 60/61 (where PAN No. is not available) is required to be furnished for opening a Relationship.

1.5  Each Relationship with a customer is representated by a Customer Identification No. (Cust. ID). For e.g. a Relationship in single name is different from a Relationship in joint names. Each combination of Relationship is distinct and unique and hence is identified by a separate Cust-ID.

1.6  Nomination facility is available for Relationship in the names of individuals. Unless otherwise specifically, given in writing by depositors, nomination in deposit accounts will be at Cust.Id. level. Depositor(s) however has/have the right to specify different nominations at account level by completing appropriate forms. Further, the applicant(s) is/are at liberty to change the nominee, through declaration in the appropriate form to revise the nomination during the currency of the Relationship accounts with the Bank.

Top

2. Operating Accounts
Relationship can be opened in the names of

2.1 An individual in his/her own name.

2.2 Two or more persons in their joint names.
All the accounts under a Relationship (Customer ID) will be compulsorily operated singly and in case of joint account operated by either or survivor or anyone or survivor(s).

2.3 In case of joint accounts, any change in operational instructions or any other information with regard to the Relationship form is to be given by all the joint account holders irrespective of the mode of operation.

2.4 The Bank will be sending through courier or post from time to time to the mailing address furnished by the applicant, statements of account, balance confirmation certificate, cheque books, Debit cards, various PIN mailers and such other items. Hence, it is incumbant upon the applicant(s) to intimate change in mailing address, if any, immediately without any loss of time.The bank will not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of non-intimation of change in mailing address.

2.5 The customer identification number is common for all accounts opened in the same name and style, in addition to unique account number for each account. Customer identification number, once allotted, needs to be quoted while opening any further accounts in the same style. The account number is to be quoted in pay in slips/cheques issued by the account holder and in all correspondence. Account holders will be provided with quarterly Statement of Account.

The account holder(s) is/are expected to examine the entries in the Savings/Current account statement on receipt, and draw the attention of the Bank to any errors or omissions that might be discovered. The Bank does not accept any responsibility for any loss arising out of failure on the part of the account holder to carry out examination of entries in the passbook/statement and to point out such error and/or omission within one month from the date of the statement/updation of passbook.

2.6 A minimum deposit is prescribed for opening any account under a relationship. A minimum average balance during a quarter is also required to be maintained in savings and current accounts. Failure to maintain the prescribed average minimum balance may attract service charges.

Top

3. Cheque Book

3.1 Cheque books will be couriered directly to the mailing address given by the applicant provided all formalities are completed. Subsequent cheque books can be requisitioned through the requisition leaf available in the cheque book subject to satisfactory conduct of the account. Cheque books are issued free of cost, however, Bank reserves the right to recover the cost of the cheque book requisitioned .

3.2  Alterations, if any, on cheques are required to be authenticated by the drawer’s signature against each such alteration. The Bank reserves the right to refuse payment of 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 the 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.

3.3  The Bank records instructions from the drawer regarding cheques lost, stolen, etc., but cannot guarantee against loss in the event of such a cheque being paid. Service charge is recovered for handling such countermanding instructions.

Top

4. Conduct of Account

4.1 When a customer wants his/her operative account at one branch to be transferred to another branch, he/she has to give his/her request in writing along with, ATM/Debit card, unused cheque books. The 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.

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

4.3  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 penalty/charge is levied. Similarly, if any cheque deposited by the customer is returned unpaid, service charge is recovered.

4.4  No overdrawing is permissible in accounts .

4.5  Standing instructions are accepted free of charge for transferring funds from Savings account to Fixed deposit or Recurring deposit accounts. Other standing instructions are subject to service charges.

Top

5. Collection facility

5.1  Cheques, drafts, bills, dividend / interest warrants and other instruments issued in favour of customers are accepted for collection on account holders’ behalf. Collection of outstation instruments entails collection charges. The Bank does not accept any responsibility for loss, delay, mutilation or interception of the instruments in postal or courier transit. The Bank does not accept or share any responsibility for realisation of such instruments or for the genuineness, validity or correctness of the signatures or endorsements thereon. Drawals against such instruments are permissible only on realisation by the Bank.

5.2  The Bank has the authority to debit the accounts to recover any amount credited erroneously.

5.3  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 clearing house rules.

Top

6. Closure of Account

6.1  The Bank reserves the right to close Relationship or account(s), which according to the Bank, is/are not conducted satisfactorily, after due notice to the customers without assigning any reasons thereof.

6.2  Service charges would be as levied per Bank's rules from time to time.

Top

7. Rules

7.1  The Bank reserves to itself the right to alter, delete or add any of these rules at any time without prior intimation to individual customers or to refuse to open an account or to close any account.

Top

II. Saving Account Rules

1.1  Natural guardian (father or widowed mother or Court appointed Guardian) can open a Savings account on behalf of a minor with moneys belonging to the natural guardian. In special cases the Bank reserves the right to open Savings Bank account on behalf of a minor by the mother.

1.2  Savings account cannot be opened for business purposes.

1.3  Number of withdrawals in Savings account is restricted to 150 per annum.

Top

2. Statement of Account

2.1  Depositors are advised to keep the cheque books / statement of accounts in a place of safety to ensure against misuse, contributing to negligence.

2.2  Duplicate statements are issued at the request of the customer for a fee. Ordinarily, duplicate statements are issued only for a period not exceeding 36 months prior to date of request.

Top

3. Payment of Interest

3.1  Interest is paid on the minimum credit balance maintained between the 10th day and last day of each calendar month in Savings accounts at the rate in force in accordance with RBI directives. Interest so calculated is rounded off to the nearest rupee, ignoring fractions of a rupee. Interest is paid every half year in September and March.

3.2  No interest is currently payable on the balance maintained in a current account in acceptance with RBI directives.

Top

III. Fixed Deposits

1. Date of Fixed Deposit

1.1  The effective date of Fixed Deposit shall be the date on which the bank gets funds to its account. No Fixed Deposit Receipt is issued in anticipation of realisation of the cheque.

Top

2. Auto Renewal

2.1  Fixed deposits are accepted with auto-renewal facility at periodicity as opted by the depositors.

Top

3. Fixed Deposit Receipt / Memorandum of Deposit

3.1  Fixed Deposit Receipt or Memorandum of Deposit will be issued to account holder as may be decided by the Bank from time to time for customer convenience.

Top

4. Tax Deducted at Source

4.1  Tax at source is deducted as applicable from the interest on fixed deposit, as per Income Tax Act, 1961.

Top

5. Payment of Interest on Fixed Deposit

5.1  Interest on fixed deposits is reckoned/paid at quarterly intervals, at the rates applicable at the time of acceptance as the case may be, in accordance with RBI directives.

Top

6. Premature closure of Fixed Deposits....

6.1  In the event of the Fixed Deposit being closed before completing the original term of deposit, interest will be paid at the rate applicable on the date of deposit for the period for which the deposit has remained with the Bank. The deposit may be subject to penal rate of interest as prescribed by the Bank on the date of deposit.

IV. ICICI Bank Salary Accounts

1.1 It is the responsibility of the customer to ensure that he has read and understood the "terms and conditions" under which the Salary Accounts scheme is offered to the corporate

1.2 The employer has full right to reverse any instruction given by him to credit the customer's account for any amount within a period of 3 working days and the account holder will not dispute or hold the bank responsible for any such debits in the customer's account.

1.3 It is the responsibility of the customer to inform ICICI bank immediately on termination of his employment with the current employer whereupon he will cease to enjoy any/all benefits under Salary Accounts scheme

1.4 If no credits are made to the account for a continuous period of 6 months, ICICI Bank reserves the right to change the status of the Salary account to ICICI bank saving account without any intimation to the account holder and the terms and conditions as applicable to the ICICI bank saving account shall apply to this account from the date of change of the status.

1.5 In case of a joint account, both the applicant and joint applicant are singly and jointly liable for Overdraft if any, even if the application cum demand promissory note is signed by the applicant alone.

Top

V. Terms and conditions for the issue and use of ICICI Bank ATM cards.

1. Meaning of certain terms : The term "Bank" refers to "ICICI Bank Ltd." "ATM" refers to the Automated Teller Machines installed by the Bank "Card holder" refers to an account who has been issued an ICICI Bank ATM Card.
   
   

2. ICICI Bank ATM Card Issuance : An account holder may be issued an ICICI Bank ATM Card by the bank at its discretion, if he/she has satisfactorily conducted savings and/or current 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 account holder shall give his/her preference of such account(s) held by him in writing in the Relationship 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.
   
   

3. 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.
   
   

4. ATM-Facilities: The facilities offered under ATM facility 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 changed 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.
   
   

5. 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 penal or service charges as per the Bank's rules from time to time, or withdraw the ATM facility, 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.
   
   

6. Fees: Currently, the ATM card is issued free of cost to customers. 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 customers.
   
   

7. 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 ICICI Bank ATM card services extended to and / or used by the Cardholder.
   
   

8. 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.
   
   

9. 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 application 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.
   
   

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

11. 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 services. 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 PIN and/or unauthorised use of ICICI Bank ATM card and shall be liable for any increased liability which he 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 Personal Identification Number and/or the replacement of ICICI Bank ATM card shall not be construed as the commencement of a new contract.
    
    

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

13. 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 occuring. Cardholder shall however be responsible and liable for all transactions effected by the user of the 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.
    
    

14. 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.
    
    

15. 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.
    
    

16. Responsibility for all transactions processed through the ATMs : Operations through the ATM facility 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.
    
    

17. 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 facility, he shall give a written notice of at least two 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 facility.
    
    

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

19. 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.
    
    

20. 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.

Top

VI. Terms and conditions for the issuance and usage of ICICI Bank Debit Cards

DEFINITIONS: "The Bank" refers to ICICI Bank Limited. "Card" refers to the ICICI Bank NCash Debit Card issued to the Cardholder. "Cardholder" refers to a customer of the Bank to whom a Card has been issued and who is authorized to hold the Card. "Merchant Establishment" shall mean establishments wherever located which honor the Card and shall include, among others, stores, shops, restaurants, hotels and airline organizations advertised as honoring 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.

BENEFITS OF CARD: The Cardholder can access cash, make payments at Merchant Establishments and ascertain information about his Account balance through the use of the Card at ATMs/ POS devices. The equivalent in the currency in which the Cardholder's Account is held, along with processing charges. conversion charges fees if any charged as per VISA regulations for such transactions shall be debited to the Cardholder's Account held at the Bank in India. The Card is valid for use at ATMs and Merchant Establishments in India and abroad. However, the Card is not valid for payment in foreign exchange at Merchant Establishments in India, Nepal and Bhutan. The Card is valid up to the last working day of the month indicated on the Card.

PERSONAL IDENTIFICATION NUMBER: To enable the Cardholder to use the Card, a Personal Identification Number (PIN) will l be issued to him. Subject to the certain 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.

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 may report a Card loss over the telephone to any of the Bank's 24-Hour Customer Care Centres or by way of written communication or by fax to his branch of the Bank. If the Cardholder loses his Card overseas, he may either follow the above procedure or may report the loss through the VISA Global Emergency Assistance (VGEA) helplines; the charges for the usage of such services shall be borne by the Cardholder. The Cardholder is responsible for the security of the Card and shall take all steps towards ensuring the safekeeping 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.

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 or PIN or both on the same terms and conditions 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 incase 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.

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 cancelling 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.

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 Cardholder will be responsible for all facilities granted by the Bank and for all related charges and shall act in good faith in relation to all dealings with the Card and the Bank. The Bank reserves the right to change the types of transactions supported without any notice to the Cardholder.

MULTIPLE ACCOUNTS: The Cardholder agrees that in case he has multiple accounts with the Bank, the Bank will decide the number of accounts which will have the Card facility on them. In case of Cards linked to multiple Accounts, transactions at Shared Networks and Merchant Establishments will be affected only on the Primary Account. The Bank will debit the Accounts linked to the Card for the value of all purchases of goods or services, cash, fees, charges and payments payable by the use of the Card. All Transactions will be reflected in the Account Statement of the Account(s) which are linked to the Card.

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. 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).

MERCHANT LOCATION USAGE: The Card is acceptable at all Merchant Establishments in India and abroad which display the logos of the Bank/VISA and which have a POS terminal. The Card is for electronic use only. The Cardholder must sign a Sales Slip whenever the Card is used at a Merchant Establishment and should retain his copy. The amount of the transaction is debited from the Primary Account linked to the Card immediately. 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.

DETAILS OF APPLICABLE FEES AND CHARGES

TERMS AND CONDITIONS: The Cardholder shall be deemed to have unconditionally agreed to and accepted these Terms and Conditions 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 10 days have elapsed since the Card was dispatched to his address on record. These Terms and Conditions will be in addition to and not in derogation of the Terms and Conditions relating to any account of the cardholder. 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 30 days if such a change is made, unless disclosure would jeopardize the security of the electronic system or equipment.

Top

VII. Terms And Conditions Governing The Internet Banking Service Of ICICI Bank

1. Definitions : In this document 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 and/ or credit card account and/ or home loan account and/ or automobile loan account and/ or consumer durable loan account and/ or any other type of account (each an "Account" and collectively "Accounts", so maintained with ICICI Bank or any Affiliate which are eligible Account(s) for operations through the use of Internet Banking. One of these Accounts will be designated as the Primary Account and all other Accounts (if any) of the User 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. 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" 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 which provides to the User services such as enquiry about balance in his Account, details about transactions in the Account(s), statement of Account, transfer of funds and other services as ICICI Bank may decide to provide from time to time. The availability/non-availability of a particular service shall be advised through email, web page of ICICI Bank or written communication.

"PERSONAL INFORMATION" refers to the information provided by the User to ICICI Bank.

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

"USER" refers to a customer of ICICI Bank and 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. In this document all references to the User being referred in masculine gender shall be deemed to include the feminine gender.

2. Applicability of TERMS : These Terms form the contract between the User and ICICI Bank for 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. By applying for Internet Banking for the first time, the User acknowledges and accepts these Terms. Notwithstanding anything contained herein, all terms and conditions stipulated by the Affiliates pertaining to the Accounts shall continue to apply.

3. Internet Banking Service : For the purpose of availing Internet Banking, the User would need to be a current Internet user or have legal access to the Internet. ICICI Bank will advise from time to time the Internet software such as browsers which are required for using Internet Banking. There will be no obligation on ICICI Bank to support all the versions of these Internet software.

4. 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.

5. 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.

6. Internet Banking 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, the User may request for the issue of a new password by sending a written request to ICICI Bank and this shall not be construed as the commencement of a new contract. 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.

7. Joint Accounts : In case of Joint Accounts, financial transactions through the Internet Banking, will 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.

8. Charges : ICICI Bank reserves the right to charge and recover from the User service charge for providing the Internet Banking. 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 withdrawal of the Internet Banking without any liability to ICICI Bank.

9. Maintenance Of Sufficient Balance : The User shall ensure that there are sufficient funds (or prearranged credit facilities) in the Account for operations 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.

10. Funds Transfer Through Internet Banking : The User shall not use or attempt to use the Internet Banking for funds transfer 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. 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.

11. 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 after authentication of the User in accordance with the prescribed procedure Clause 6 for Internet Banking. ICICI Bank shall have no obligation to verify the authenticity of any transaction received from the User other than by these means of verification. 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 the 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.

12. Instructions : All instructions for operating the Internet Banking shall be given through computer 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, an instruction is effective unless countermanded by further instructions. ICICI Bank shall have no liability if it does not or is unable to stop or prevent the implementation of the initial instruction. 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 state that they have 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.

13. Accuracy of Information : The User is responsible for the correctness of information supplied to ICICI Bank for use of the Internet Banking. ICICI Bank accepts no liability for the consequences arising out of erroneous information supplied by the User. If the User notices an 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 error wherever possible on a "reasonable efforts" basis.

14. 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.

15. Indemnity : In consideration of ICICI Bank providing the User the Internet Banking, the User shall indemnify and hold ICICI Bank and/or the Affiliates, as the case may be, including both their officers, employees and agents, 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 to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.

16. 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, for fraud prevention purposes.

17. 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 days for such changes wherever feasible. Such change to the 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.

18. Non-Transferability : The grant of Internet Banking to a User is not transferable under any circumstance and shall be used only by the User.

19. Termination of Internet Banking : The User may request for termination of the Internet Banking any time by giving a written notice of at least 15 days to ICICI Bank. The termination shall take effect on the completion of the fifteenth day. The User will remain responsible for any transactions made through the Internet Banking until the time of such termination. 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.

20. Notices : Notices under these 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.

21. Governing Law : These Terms and/or the 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 Terms for Internet Banking 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 for Internet Banking in any other court, tribunal or other appropriate forum, and the User hereby consents to that jurisdiction. Any provision of the Terms for Internet Banking which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but sh