T&C: Titanium Delights Debit Card Fee Reversal Offer

Introduction:

These terms and conditions (“Terms”) shall be applicable for Titanium Delights Debit Card (“Debit Card”) of IndusInd Bank Limited (Indusind Bank”) issued during the Offer Period (defined below).

Key Definitions:

• Anniversary Date means annual cycle of date of Debit Card issuance. Eg. If the Debit Card was issued on 5th January, 2023, anniversary date will 5th January,2024.
• Average Monthly Balance means the average of daily balance calculated as ‘end of the day balance divided by No. of days of the calendar month’.
• Annual Fee means the fee levied at the start of every anniversary year of the Debit Card issuance.
• Cardholder means person/entity in whose name Debit Card has been issued.
• Existing Account means Account which are already opened with IndusInd Bank but debit card is Issued during the offer period.
• Issuance Date means date of creation/issuance of Debit Card to the customer.
• Issuance Fee means the fee levied at the time of the Debit Card issuance to the Cardholder (1st Year fee).
• Spends means successful and valid transactions made by the Cardholder using per Debit Card through Point of Sale (‘PoS’ i.e. offline transactions made vide machine insert/tap and pay) and E-commerce transactions.
• New Account means new Account opened and Debit Card is issued at the time of account opening itself, during the Offer Period.
• Offer Period means Debit Card issued by the Bank to the Cardholder during the period i.e. 1st Feb, 2023 to 31st March, 2024.

Debit Card fee reversal offer (“Offer”):

*3 (three) months are defined as subsequent 3 (three) calendar months from the Debit Card Issuance/Anniversary Date (as applicable).

For example: If the Debit Card Issuance Date is 25th March, 2023:
For reversal of Issuance Fee minimum Spends/ Average Monthly Balance will be checked for period between April, 2023 to June, 2023 tenure.
And for subsequent year(s) reversal of Annual Fee will be done basis minimum Spends for period between April 2024-June 2024 tenure and so on.

Offer Eligibility and Validity:

• This Offer is only applicable on valid and active Debit Card issued to the Cardholder during the Offer Period.
• Cardholder shall be resident of India holding Savings account (“Account”) with Indusind Bank.
• Bank has received the Issuance/Annual Fee along with applicable taxes/GST on or before end of 3 months tenure for Offer eligibility.

Disqualification:

• Dormant and/or freezed and/or closed Account(s) linked to the Debit Card are not eligible for this Offer.
• Debit Card/s which are inactive, blocked and/or are closed at the time of processing of fee reversal
• ATM and UPI transactions done by the Cardholder on the Debit Card are not included in the Offer.
• Offer is not valid for replacement/replaced Debit Card.
• Unauthorised/disputed transactions shall not be counted for calculation of minimum Spends.
• If any fraudulent activity is identified on the part of the Cardholder for the purpose of availing the Offer and its benefits by use of the Debit Card of Indusind Bank.

Offer Terms :

• General Terms and conditions applicable on Debit Cards will continue to apply.
• The participation in the Offer is entirely voluntary and it is understood, that the participation by the Cardholder/s shall be deemed to have been made on a voluntary basis.
• Reversal is applicable only for Issuance Fee/Annual Fee of ₹499/-(Rupees Four Hundred Ninety Nine Only). All taxes, including Goods and Services Tax (“GST”), as applicable will be borne by the Cardholder only.
• Fee reversal on Debit Card will take place at the end of the 4th (fourth) calendar month from the date of Debit Card Issuance Date or Anniversary Date (as applicable) , which will be subject to sole and final discretion of Indusind Bank, Cardholder’s compliance with these Terms and other applicable terms and conditions of Indusind Bank.
• Spends on Debit Card will be calculated by Indusind Bank basis transaction date submitted by the merchant establishment/network association. In case of any discrepancy between the transaction date and other details provided by the merchant establishment/network association and transaction date and details of Indusind Bank, details provided by the merchant establishment/network association shall be final and binding on the Cardholder .
• The Bank reserves the right at any time without any prior notice to add, alter or modify all or any of these terms and conditions or replace, wholly or in part, this Offer by any other offer, whether similar to this Offer or to withdraw it altogether without giving prior notice to the Cardholder(s).
  • These terms shall be in addition to and not in derogation of other applicable terms and conditions of any account or any other facility / services offered by the Bank and / or such other terms and conditions as may be specified by the Bank.
  • This Offer cannot be clubbed or interchanged with any other offers.
  • All capitalized terms used but not defined herein shall have the respective meanings ascribed to it in the primary terms and conditions.
  • Any queries in respect to this Offer can be raised by the Cardholder with the Bank through phone banking within India at 18602677777
  • All applicable Government duties, taxes and levies including but not limited to GST, TDS, any Local Tax, Octroi etc., will be payable by the Cardholder.
  • IndusInd Bank may at its sole discretion extend the Offer Period or revoke the Offer, as it may deem fit.
  • This Offer shall be subject to all applicable laws, regulatory guidelines, rules, regulations, notifications etc. as may be applicable from time to time.
  • Nothing herein amounts to a commitment by IndusInd Bank to conduct further, similar or other offers.
  • These terms & conditions of the Offer shall be governed and interpreted as per the laws of India and any dispute relating to these terms & conditions shall be subjected to the exclusive jurisdiction of the courts at Mumbai.
  • In case of all matters relating to the Offer including any dispute or discrepancy relating to the Offer or eligibility of any Cardholder, IndusInd Bank’s decision shall be final and binding on Cardholders in all respect.