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1. Terms & Conditions for Establishing Relationship and Operating Accounts (For Resident Individuals)
   1.Establishing a Relationship
   2.Operating Accounts
   3.Cheque book
   4.Conduct of Account
   5.Collection Facility
   6.Closure of Account
   7.Rules

2. Savings / Current Bank Account Rules
   1.Savings Deposit Accounts can be opened in the names of
   2.Statement of Account
   3.Payment of Interest
   
   
3. A) Fixed Deposit
   
   1.Date of Fixed Deposit
   2.Auto Renewal
   3.Fixed Deposit Receipt/Memorandum of Deposit
   4.Tax deducted at source
   5.Payment of Interest on Fixed Deposit
   6.Premature closure of Fixed Deposits
   
   B)Easy Fixed Deposit
   
   
4. ICICI Bank Salary Accounts
   
   
5. Terms and conditions for the issue and use of ICICI Bank ATM cards
   
   
6. Terms And Conditions Governing The Internet Banking Service Of ICICI Bank
   
   
7. Rules and Regulations for Value Added Savings Account deposit scheme.
   
   
8. Terms & Conditions Governing the use of The Mobile Banking Service provided by ICICI Bank Limited

I. Terms & Conditions for establishing relationship and Operating Accounts (For Resident Children aged 5-12 years)

1. Establishing a Relationship

1.2  Introduction is a pre-requisite for establishing a Relationship. The Bank may at its discretion consider valid an introduction by an existing relationship holder. Alternatively, a proof of identity for the guardian has to be furnished as under :

Proof of Identity (attach copies -provide original for verification)
Passport or
Letter from existing bank or
PAN (Along with self cheque drawn on existing Bank)
OR
Provide at least one each from List A & List B along with guardian’s self cheque drawn on existing Bank

List A (Proof of Name)
Ration Card
Employee ID Card
Driving License
Salary Slip
Voter’s ID Card
Income/wealth tax assessment orders

List B (Proof of Current Address)
Electricity bill (Latest)
Telephone bill (Latest)
Copy of LIC Policy or latest premium receipt.
NSC (Copy)
Any latest Credit Card Statement
Letter from employer giving current residential address

1.3  As per extant Reserve Bank of India (RBI) guidelines, which are mandatory, photographs of guardian should be furnished to the Bank.

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

1.5  Each Relationship with a customer is represented by a Customer Identification No. (Cust. ID) which is for the present, branch specific. 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 however has the right to specify different nominations at account level by completing appropriate forms. Further, the guardian is 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.

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

2.1 A minor under guardianship .

2.2 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, various PIN mailers and such other items. Hence, it is incumbent 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.

2.3 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 Cust ID and 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 monthly Statement of Account.

The account holder/guardian 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/guardian 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.

2.4 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 accounts. Failure to maintain the prescribed average minimum balance will attract service charges of Rs 50 per month.

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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.

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4. Conduct of Account

4.1  When a customer wants his/her Cust ID at one branch to be transferred to another branch, he/she has to give his/her request in writing along with his/her unused cheque books. The bank will close the Cust ID and arrange to open a new Cust ID at the other branch and will issue new cheque book, etc. This service is free of charge.

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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2. Auto Renewal

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

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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.

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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.

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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.

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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 Under ICICI Bank Salary Accounts, the Bank reserves the right to reverse any wrong credit provided by an employer till credit advice for the transaction has been given to the account holder.

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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.

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VI. 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 shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.

22. 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.

23. 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 telephone he uses meets the criteria. All costs incurred by the User including telecommunication costs to use the Internet Banking would be borne by the User.

24. Assignment : ICICI Bank shall be entitled to sell, assign, securitise or transfer ICICI Bank's right and obligations under the Terms and any security 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. However, the User shall not be entitled to transfer or assign any of his rights and obligations hereunder.

25. 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 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.

26. Proprietary Rights : 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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VII. Rules and Regulations for Value Added Savings Account deposit scheme.

1. Value Added Savings Account is a deposit scheme where Value Added Savings Account-Fixed Deposits held in account holders(s) names(s) are linked to the running Maxi Cash-Savings Account [operative account] standing in his/her/their name(s).
   
   

2. The scheme is applicable to resident as well as non resident deposits.
   
   

3. Under the scheme, linking between savings account and fixed deposits will be only when the name/order of names and the mandate for account operation [operational instructions] between the linked accounts are identical.
   
   

4. Normal savings account transactions can be carried out in the linked Maxi Cash-Savings bank accounts.
   
   

5. The account holder(s) has/have to maintain a minimum average balance of Rs. 5000/- in the linked Maxi Cash-Savings Accounts.
   
   

6. Charges would be levied for non-maintenance of minimum balance as per Bank's rules from time to time.
   
   

7. The Scheme provides for Auto Sweep and Reverse Sweep facilities. "Auto Sweep" is a facility whereby the Bank automatically transfers any amount above a certain minimum balance in the account holder(s)’ Maxi Cash-Savings Account to his/her/their Value Added Savings Account-Fixed Deposits. "Reverse Sweep" is a facility where the Bank automatically breaks the linked fixed deposits in units of Rs.1000/- to meet the shortfall /arising on account of cheques issued, ATM withdrawals, etc. in the linked Maxi Cash-Savings Account. ‘Auto Renewal’ facility is compulsory under the scheme.
   
   

8. The bank will transfer, under the Auto Sweep facility, a sum of Rs.5000/- or multiples thereof OR any other sum stipulated by the account holder(s) (whichever is higher) from the Maxi Cash-Savings Account above the minimum
   balance stipulated by account holder(s) or Rs. 5000/- [whichever is higher] to a Value Added Savings Account-Fixed Deposits Account.
   
   

9. The period of scuh deposits opened under the Auto Sweep facility will be 1 year or any other period stipulated by the account holder(s) [whichever is higher]
   
   
10. Such deposits will carry rates of interest revised by the Bank from time to time and as per the RBI guidelines.
    
    

11. Deposits falling due will be renewed from time to time for further perioeds of 1 year or any other period stipulated by the account holder(s) [whichever is higher] under the Auto Renewal scheme. The interest payable on such deposits will be at the rate applicable on such deposits of the Bank, for the respective period, prevailing as on the date of such renewal.,
    
    

12. The Bank will renew the deposit with interest subject to Tax Deduction at Source (TDS). where applicable (for deposits under Traditional and Reinvestment Plans), unless instructions to the contrary are received from the account holder(s).
    
    

13. The Bank is authorised to link all fixed deposits made by the Bank under the Auto Sweep or Auto Renewal facility automatically to the operative account under the Value Added Savings Account Scheme. If the account holder(s) desire(s) to link any deposit opened by any other means, separate instructions to that effect need to be given.
    
    

14. The Bank will keep in safe custody, free of charge, the fixed deposits opened/renewed under the scheme from time to time.
    
    

15. No overdraft/loan will be provided against the security of fixed deposits made under the Value Added Savings Account Scheme.
    
    

16. The fixed deposits under the scheme are in units of Rs.1000/- each.
    
    

17. In case the account holder(s) issues(s) cheques on the linked savings account, or draw(s) from the ATM or the Bank passes debits in the normal course for recovering dues from the account holder(s), under the ‘Reverse Sweep’ facility the Bank is authorised to:

• honour these cheques/debit/ATM withdrawals even if there is a shortfall, provided the shortfall is not more than the aggregate deposits that the account holder(s) may have with the Bank under this scheme
  

• prematurely or otherwise encash the deposit in units of Rs. 1000/- and multiples thereof to meet the shortfall. If the account holder(s) has/have more than one deposit under the scheme, the last deposit made under the scheme will be used first (LIFO) to meet the shortfall and if this is not adequate, the deposit made prior to the last deposit will be used and so on and so forth, until the shortfall i