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Banking Terms

Digital FD terms

Terms of Service - Digital Fixed Term Deposits

These terms and conditions, along with any agreements, annexures, exhibits, or any additional service terms (“FD Terms”) applicable to the FD Services, apply when you ("you" or "Customer") opt to avail digital fixed term deposit service including the auto deposit plan (“Digital FD Service") provided or made available by slice small finance bank limited (the "Bank", "we", "us" or "our"). The FD Services may be made available through any digital platform (including any websites, desktop sites or mobile applications) operated by the Bank or any authorised third-party ("Digital Portal").

The FD Terms apply to you for availing the Digital FD Services, as identified below, offered by the Bank. By registering for using Digital FD Services, you signify that you have read, understood and agree to your agreement to be bound by these FD Terms without any limitation. If you do not agree with these FD Terms, please do not register or avail the Digital FD Services.

The headings contained in these Terms are for reference purposes only.

These FD Terms incorporate the Privacy Policy of the Bank (including any updates and amendments), available here by reference.

Representations, warranties, and undertakings by you

You confirm that you are at least 18 years of age to avail the Digital FD Services.
You confirm that have you never been adjudicated insolvent by any court and have also not had any insolvency proceedings against you.
You undertake to undergo the necessary know-your-customer ("KYC") checks and customer due diligence applicable to availing the Services, as prescribed under the Master Direction - Know your Customer (KYC) Directions, 2016 (as amended from time to time) issued by the Reserve Bank of India ("RBI"), read with the Prevention of Money Laundering Act, 2002 (as amended from time to time) (collectively, the "KYC Framework"). You are not a 'Politically Exposed Person' ("PEP") resident outside India in terms of the KYC Framework. In relation to the foregoing, PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials. You agree and undertake to immediately notify the Bank in circumstances where your PEP status changes, or you become related to a PEP.
You are not restricted by any legal, regulatory, judicial, quasi-judicial or other authority, to avail the Digital FD Services. You agree to use the Digital FD Services only for purposes that are permitted by these FD Terms and under applicable laws.

Definitions

"Applicant" refers to an individual who submits a formal request to the Bank for the opening of a fixed deposit account, either directly with the Bank or through a BC, on the Digital Portal where FD Services are made available by the Bank.

"Digital FD" or “Digital FD Account” means a fixed deposit account that is created in the name of a Customer, and operated electronically through the Digital Portal.

“KYC Framework” means and includes Master Direction - Know your Customer (KYC) Directions, 2016 issued by the Reserve Bank of India ("RBI"), read with the Prevention of Money Laundering Act, 2002.

The capitalised words used in these FD Terms but not specifically defined, will have the respective meanings assigned to them under the applicable Indian laws.

Your Information

By using the Digital FD Services, you authorize the Bank, whether directly by itself or indirectly through authorised third parties, to collect information about you, including information that identifies you or is relevant to make any inquiries necessary to validate your identity in accordance with Privacy Policy and the KYC Framework (collectively, "Information"). Please read the Privacy Policy to understand how we collect, process, handle and share your Information with third parties.

The Bank may, with your consent, request third parties to provide Information about you.

For availing the Digital FD Services, certain third parties, such as third-party operating the Digital Portal, may directly collect your Information. In such cases, the privacy policies of such third parties will also apply to collection and processing of your Information. To access these privacy policies of the said entities, please visit the Digital Portal of these third parties.

We may ask you for Information and documents that will allow us to confirm your right over your email address, phone number or financial instruments, or verify your Information against third party databases or through other sources.

If you do not provide any Information and documents as requested by the Bank, you will not be able to avail the Digital FD Services. Also, we reserve the right to terminate, suspend, or limit access to the Digital FD Services in the event we are unable to obtain/receive or verify any Information provided by you or accessed by us in accordance with the FD Terms.

The Information you provide to the Bank is true, accurate, current, updated and complete. You understand that the responsibility to provide correct, current and accurate Information, including contact details, transaction amount, bank account details etc., as may be required, lies solely with you. You must take all caution to ensure that there are no mistakes and errors in the Information. You will be solely liable to inform the Bank of any change in the Information provided by you or otherwise available in relation to you.

You agree to provide full cooperation to enable the Bank to validate your identity in order to provide you the Digital FD Services effectively.

Communication and notification

You hereby agree and acknowledge that the Bank may, at its sole discretion, engage the services of any third parties including but not limited to technology service providers, Business Correspondents ("BC") etc., for extension of banking and financial services and increasing the outreach of the Bank's services, for greater financial inclusion.

You agree that the Bank (either directly or indirectly through third parties) may communicate with you in connection with the Digital FD Services, through phone calls, SMS, third-party messenger applications (like WhatsApp), email or any other modes including through the Digital Portal.

Any communication will be considered to be received by you within 24 hours of the time we send it to you through any of the modes or when you are notified through the Digital Portal.

If we need to contact you in connection with the Digital FD Services, you give express consent to us and authorised third parties, including permitted BCs, agents or service providers, to communicate with you in any manner via:

a mobile phone or landline number you provide to us or use to contact us;
any email address associated with your account with the Bank, or you provide to us;
automated dialler systems and automatic telephone dialling systems;
pre-recorded or artificial voice messages; or
any other mode.

The Bank will not be responsible for any non-delivery, delayed delivery or distortion of the communication in any way whatsoever.

Access to Your Account

Your credentials include your username and password used to access your Digital FD Account. You are responsible for maintaining the secrecy and security of the login credentials to your Digital FD Account, controlling the activities that occur in or through your account and for restricting access to your system or device to prevent unauthorised access to your Digital FD Account. The Bank will not be liable for any breach of security or unauthorized use of your Digital FD Account.

You agree to establish reasonable security procedures and controls to limit access to your Digital FD Account, including the password or other identifying information of your Digital FD Account, which includes choosing passwords and other credentials in a manner that will protect the security of your Digital FD Account.

You agree to inform us immediately if you have any reason to believe that your login credentials have become known to anyone else, or if the password is being or is likely to be used in any unauthorized manner.

The Bank will use commercially reasonable efforts to make the FD Services available 24 hours a day, 7 days a week, except for (i) planned downtime, or (ii) any unavailability caused by circumstances beyond the Bank’s reasonable control, including any action directly or indirectly attributable to any third-party agent or service provider. While we will try our best to offer you uninterrupted access to the Digital FD Services, the Bank assumes no liability whatsoever for any claims for monetary or other damage or loss suffered by you on account of the delay or failure, interruption in the Digital FD Services.

The customer support in relation to the Services will be provided either directly by Bank or through its authorized service providers, 24 hours a day, 7 days a week.

If you choose to access the Digital FD Services from locations other than India, you do so at your own risk, and you would be solely liable and responsible for compliance with applicable local laws and regulations of such location, and we accept no liability in this regard. The mere fact that Digital FD Services can be accessed by you in a country other than India will not imply that the laws of the country where you access the Digital FD Services, govern these FD Terms, or use or access to the Digital FD Services or Digital FD Account.

Eligibility

Eligibility criteria to avail the Digital FD Services:

Applicant should be an Indian citizen and resident of India.
Applicant should be 18 years and above.
Applicant should be physically present in India at time of digital application and/or video-KYC.
Applicant should not have a tax obligation to any country other than India (FATCA reportable).
Applicant should not be a PEP under the KYC Framework.
Applicant’s mobile number should be linked with Aadhaar number of the Applicant. (only applicable in case of accounts opened using OTP based Aadhaar e-KYC authentication.)

FATCA-CRS Declaration

You agree to abide by and be bound by all applicable regulations, instructions or guidelines issued by the Reserve Bank of India (“RBI”), the Common Reporting Standards ("CRS"), Foreign Account Tax Compliance Act of United States of America ("FATCA") and any other governmental or regulatory authority.
You understand that the Bank is relying on your Information for determining your compliance status with FATCA and CRS (Common Reporting Standards).
You agree to inform the Bank within 30 days if there is change in such Information.
You agree that the Bank may also be required to report the relevant details to a governmental or regulatory authority in India, including Central Board of Direct Taxes, or close or suspend your Digital FD account, if instructed or required by applicable law to do so.

Digital FD Services

The Bank is authorised by the RBI to offer and issue Fixed Term Deposits (“FD”) in India in accordance with the applicable laws, to the Applicants on receipt of a request from the Applicant. In relation to the FD, the Bank will provide the following functionalities and services to you, either directly or through BCs, on the Digital Portal (collectively, the "Digital FD Services"):

Open Digital FD accounts, on receipt of a request/application from the Applicant through Digital Portal.
Provide you with a functionality to close the Digital FD account prior to the expiry/maturity of the Digital FD account.
Provide customer support to you in relation to the Digital FD Services, including providing the facility to raise grievances, complaints or provide feedback, in relation to Digital FD Services; and
Provide any ancillary or support services to enable you avail the Digital FD Services.

During your registration, for the purpose of creating and enabling the use of Digital FD Services by you, Bank may collect, process and share Information about you with third parties in accordance with its Board approved KYC policy and Privacy Policy, for undertaking customer identification procedures and customer due diligence and verification, in accordance with KYC Framework ("KYC Process").

Digital FD Account will be opened in single holding capacity (cannot be a joint account).

KYC Process

In compliance with the KYC Framework, undergoing KYC Process is mandatory in order to open a Savings Account. Bank will conduct KYC Process through prescribed mechanisms under the KYC Framework and in accordance with its internal KYC policy, which may include obtaining Information and validation of your identity through services offered by third party authorised service providers such as National Securities Depository Limited (NSDL), DigiLocker, Central KYC Records Registry (CKYCR), Central Identities Data Repository, Credit Information Companies (CIC) and the Unique Identification Authority of India (UIDAI). You will be required to accept the terms and conditions of such third-party service providers whom you authorise to share your Information, including Information relating to the KYC Process, with the Bank.

You provide your express consent to the Bank to undertake the KYC Process for SA Services. KYC can be done by the Bank in the following ways in accordance with KYC Framework and KYC Policy:

Provide your Permanent Account Number ("PAN") – You have to enter or confirm your PAN details which may be fetched from CICs.
Fetching identification information - You will be asked to complete your KYC either through offline verification of Aadhaar or through e-KYC authentication of Aadhaar or by enabling us to obtain your details from the CKYCR or DigiLocker. You hereby authorise the Bank to verify/check/obtain/download your KYC details from the CKYCR as and when required for the purpose of KYC verification; (i) by verifying such details through CKYC number (i.e., KYC identifier number-KIN) provided by you or (ii) by obtaining such CKYC number/KIN, through details made available by you. You also consent to receive information from CKYCR or DigiLocker through SMS/e-Mail on the herein mentioned mobile number/e-Mail Id in this regard. You further consent that the Bank shall update your KYC details on to CKYCR and this might entail downloading your details from CKYCR once again.
Employment and income details: You will be required to provide your employment and income details for setting up Savings Account on the Digital Portal.
Current Address: You will be required to verify your current address for completion of your KYC verification.
Bank account verification: In case of non-face to face KYC, in order to activate your Savings Account, the first transaction should be a credit to your Savings Account from your KYC complied bank account; or
Video KYC: You will be required to complete the video KYC as prescribed under the KYC Policy and KYC Framework. You agree and acknowledge that, you will provide all necessary permissions and consents for the purpose of carrying out video KYC with Bank.
Accounts opened through OTP Based E-KYC Authentication from UIDAI)
1. The Customer understands and agrees that being a limited KYC account, the operations of the account shall be limited.
2. The Customer should complete the Full KYC confirming to the guidelines issued by the Reserve Bank of India within 1 year from the date of opening of Digital Saving account.
3. The Customer herewith confirm that they have not opened any account/deposit through Aadhaar-OTP e-KYC verification in any other bank and they will not open any other account through Aadhaar-OTP e-KYC verification in any other bank.

The Bank may undertake the said KYC Process in such other manner as it deems fit provided it is in accordance with KYC Framework and KYC policy.

Post the submission and successful verification of the Information and the documents containing the Information submitted by you, your Savings Account may be opened at the discretion of the Bank, subject to review of your Information and completion of the KYC Process as per KYC Framework and KYC policy.

You authorise the Bank to fetch your demographic/KYC details directly from UIDAI, including through DigiLocker. You have no objection in authenticating yourself with Aadhaar based authentication system and voluntarily consent to providing your KYC details. You understand that the foregoing mechanism shall be used only for authenticating your identity through the Aadhaar authentication system for that specific transaction and for no other purposes, unless permitted under applicable laws. In this regard, you agree to furnish your Aadhaar number and voluntarily give your express consent to:

Use your Aadhaar details and authenticate yourself through Aadhaar based authentication system for the purpose of establishing your identity.
Link the Aadhaar Number to all your existing/new/future accounts and customer profile (CIF) with the Bank.

You authorize the Bank to share your Aadhaar related Information with regulatory and statutory bodies, as required under applicable laws. Notwithstanding anything mentioned under these Terms, Banks shall store and process Customer’s KYC information including but not limited to Aadhaar details in accordance with applicable laws.

OTP based Aadhaar e-KYC authentication

You agree and acknowledge that for the Digital FD Account opened in non-face-to-face mode i.e., through OTP based Aadhaar e-KYC authentication, the aggregate balance of all your deposit accounts shall not exceed INR one (1) lakh. You further understand and agree that the aggregate of all credits in a financial year, in all your accounts taken together, shall not exceed INR two (2) lakh.
You understand that the Digital FD Account opened using OTP based e-KYC shall not be allowed for more than one year unless identification as per section 16 or section 18 (Video KYC) of RBI Master Direction - Know Your Customer (KYC) Direction, 2016 updated from time to time is completed. You agree and acknowledge that the Bank reserves the right to close the Account opened through OTP based e-KYC immediately if the aforementioned limits of INR one (1) lakh and INR two (2) lakh are breached.
You hereby declare that you have not opened any other account, nor will you open using OTP based e-KYC in non-face-to-face mode with any other banks.
You authorise the Bank while uploading KYC information to CKYCR, to indicate that your Digital FD Account is opened using OTP based e-KYC and other banks shall not open accounts based on such the KYC information.
You authorise the Bank to strictly monitor aforesaid procedures including systems to generate alerts in case of any non-compliance/violation, to ensure compliance with the above-mentioned conditions.

Video based KYC

Video KYC process is available only for Customers who are physically present in India and if the same can be confirmed through their live location through geo- tagging and shall be accessible only during the working hours defined by the Bank.
Video KYC process shall work only in good network/internet conditions and Customer should possess requisite documents and materials as informed on the journey page at the time of the video KYC process to avoid any inconvenience.
On opting for video KYC process, a two-way video call will be initiated between the Customer and the Bank’s official to start the video KYC process. As a part of Video KYC process, the Customer shall be required to verify their identity by answering certain questions asked by Bank’s officials through the video call.
The Customer shall be required to co-operate with the Bank’s officials in every manner and provide all such relevant information/data/documents including but not limited to allowing Bank’s officials to capture their photographs or screenshots of various documents including but not limited to Officially Valid Documents (“OVD”), PAN, etc.
The Customer agrees and consents to co-operate and provide all such relevant data/documents, etc. for the purpose of video KYC process.
The Customer authorizes the Bank to collect/store/verify/process any and all information/details received through the video KYC process including but not limited to the video call itself, information received from documents/information captured/shared through the video call.
In case the documents shown and verified by the Bank’s officials over a video call do not comply with the Bank policy and/or relevant guidelines due to any reason whatsoever, the application request shall be rejected.
Customers who have opted for video KYC process for Digital FD Services agree that their request is subject to verification and may be rejected by the Bank for various reasons including, but not limited to:
1. Call drop due to network/internet issues at the Customer’s or the Bank’s end or
2. Documents matching criteria is not fulfilled or
3. Bank official is unable to capture the screenshot of Customer’s photo or any document or
4. Customer is not ready to co-operate with Bank officials or
5. Location of Customer is outside India or
6. face mismatch or
7. poor quality uploaded documents or
8. For any other reason at the discretion of the Bank. In case of such rejection,
The Customer understands that the video KYC process is subject to the availability of Bank officials to conduct such video KYC.

Operation of Digital FD Accounts

Payment of interest on the Digital Fixed Deposit shall be made at the contractual rates notified by the Bank in accordance with its internal policies, subject to the guidelines prevailing as on the date on which the Digital FD Account became effective. Rate of interest is dependent on the time period of Digital FD Account and other factors notified by the Bank. The interest will be calculated and paid by the Bank in conformity with the formulae and terms suggested by RBI and Indian Banks’ Association (IBA) and the details of the prevailing interest rate can be found here.
Bank shall, at its discretion, formulate Digital FD schemes specifically for resident Indian senior citizens, offering higher and fixed rates of interest as compared to normal deposits of any size.
Initial funding is required to open Digital FD Account. The Bank reserves the right to stipulate, from time to time, the minimum and maximum initial funding limit and the mode of funding required for opening Digital FD Account. The Bank also reserves the right to deny opening of Digital FD Account till such time the proceeds are actually received by the Bank. The Bank reserves the right to close Digital FD Account without notice to the Customer if the Bank has reason to believe that the initial funding is not received from the customer, if the funds are received from illegitimate source, the initial funding transaction is not successful or the proceeds of initial funding transaction is not actually received by or settled in favour of the Bank within three (3) days of the request made by the Applicant.
The Bank shall have absolute right to refund the deposit amount without any interest if the necessary V-CIP (video KYC) procedure is not completed within 3 working days of payment/initial funding.
Creation or renewal of Digital FD Account on a public holiday may be shown, at the sole discretion of the Bank, as having created or renewed on the same day or on the immediate following business day.
The Bank shall have absolute right to discontinue any Digital FD Services by providing 30 (Thirty) days' notice. Such notice may be provided through the Digital Portal or through such means as authorized by the Bank.
The Bank reserves the right to close any Digital FD Account of the Customer in case of unsatisfactory conduct or operation of such account or if the Bank is of the view that continuance of such account is detrimental to the interest of the Bank.
The Customer should clearly indicate the maturity instructions in the request for opening Digital FD on the Digital Portal. If the Customer has not submitted any maturity instructions, the Digital FD will be renewed automatically on the due date of maturity, without any liability on the part of the Bank, for principal amount and interest (or for principal amount alone, in case interest pay-out is made prior to the renewal) for the same tenure at the rate prevailing on the due date of maturity.
Premature closure or withdrawal of a Digital FD is permitted at any time after the Digital FD Account has been created. However, the minimum term for a Digital FD is 7 (Seven) days from the date of creation of the Digital FD Account beyond which Bank shall be liable to pay interest, and the FD must be free of any charges or liens. In the event of premature closure or withdrawal, the Digital FD will earn interest at the rate applicable to a term deposit that has actually remained with the Bank and not at the contracted rate. In case of premature withdrawal of Digital FD based on instructions of Customer, the Bank shall have the right to recover interest already paid or the penalty, if any, from the proceeds of the Digital FD Account in accordance with applicable laws prevailing on the relevant date. The Digital FD can also be withdrawn within 7 (seven) days of creation of the Digital FD Account; however, no interest shall be paid for such Digital FD Account. If the Digital FD is to be withdrawn within three (3) days of its creation, the request must be submitted to customercare@slicebank.com and/or help@slicebank.com After three (3) days, the withdrawal option will be available through the Digital Portal.
The Bank computes interest on the deposits made by you as Digital FD based on the actual number of days in a year (i.e. 366 days in a leap year and 365 days in a non-leap year).
The Bank reserves the right to disclose the information about the Customer if required or permitted by applicable law, at the request or order of any statutory, regulatory or judicial authority, or if such disclosure is required for the purposes of preventing fraud.
Customers should carefully examine the entries made in the FD advice or receipt and bring any errors, omissions or discrepancies to the attention of the Bank, within 30 (Thirty) days from the date of receipt of the FD advice or receipt, failing which the entries shall be deemed to be correct and accepted by the Customer, and the Customer shall not be entitled to question or dispute thereafter.
Nomination
1. Nomination facility is available in accordance with applicable laws including but not limited to the Banking Companies (Nomination) Rules, 1985. Customer has to mandatorily designate a nominee (who should be an individual) while availing Digital FD Services. In case the nominee is a minor, the name of the guardian to be specified. In case a nomination facility has been availed by the Customer, the Bank will be discharged of its liability in regard to the funds available to the credit of such Digital FD by making the payment to the nominee subject to the terms specified by the Bank, unless specifically prohibited by an order of the Court.
2. Customer shall nominate any person who, in the event of death of the Customer shall become entitled to the Digital FD proceeds and the payment thereon. If such nomination is not made at the time of opening of Digital FD Account, it may be made by the Customer at any time after the FD receipt/advice is issued but before its maturity, by such means as may be prescribed in Bank’s internal policies.
3. In the event of death of the Customer in respect of which a nomination is in force, the nominee shall be entitled at any time before or after the maturity of the Digital FD to encash the deposit. For the aforesaid purpose, the surviving nominee shall make an application to the Bank, supported by all relevant documentation.
4. Only one nominee is permissible for Digital FD Account and the nominee should be an individual.
5. The Customer is at liberty to change the nominee, through declaration in the appropriate form/in the manner stipulated by the Bank to revise the nomination during the maintenance of the Digital FD Account with the Bank.
6. The Customer authorizes the Bank to act upon his/her instruction regarding nomination, cancellation, or variation of the nomination in respect of the Digital FD Account. The Customer shall not hold the Bank responsible and shall indemnify the Bank on account of any claim against the Bank for acting on the instruction of nomination given by the Customer.
7. In the absence of any nominee, the Bank may retain any and all funds in Digital FD until it establishes the identity and credentials of the successor/legal heir to the account holder to its satisfaction, which may include evidence in accordance with applicable law.
8. Advantages of Nomination- The Bank actively recommends that all Customers avail nomination facility. The nominee, in the event of death of the Customer, would receive the maturity amount of the Digital FD. Nomination facility is intended only for individual Deposit holders. The Bank may retain the maturity proceeds in the Digital FD until it establishes the identity and credentials of the legal heir(s) to its sole satisfaction, and the Bank reserves the right to demand and inspect requisite documentation in this regard, including a succession/legal heir certificate and/or a duly probated will. Without prejudice to the foregoing, in the event of death of a Customer, the Bank reserves the right to pursue all courses available to it under law and equity at its discretion to recover any amounts that are payable to the Bank, from the heirs or nominees of the Customer.
Tax Deducted at Source (“TDS”)
1. All taxes, duties, levies or other statutory dues and charges applicable in connection with the benefits accruing as per the terms of these Digital FDs will be recoverable from the Customer.
2. Tax is deducted at source on interest on Digital FD held by a Customer, if the interest paid or payable by Bank for the financial year exceeds the threshold limit specified by Income Tax Act, 1961 (“IT Act”). Currently, the threshold limit for this purpose is ₹40,000 p.a. save for senior citizen customers, in which case the threshold limit shall be ₹50,000 p.a., which may be modified from time to time as per the applicable laws. When aggregate of interest paid in the financial year exceeds threshold limit, TDS recoverable on the aggregate interest is recovered from the latest interest credit/flow due to which aggregate exceeds threshold limit. In case, TDS recoverable is higher than the interest credit/flow amount, lien will be levied by Bank for the TDS shortfall amount on the Digital FD whose interest flow that caused the breach of the threshold limit. The shortfall will be recovered from the next interest flow/credit paid to the Customer or from Digital FD amount if interest paid on maturity of Digital FD is lower than the shortfall amount.
3. For Digital FD (with quarterly / monthly interest payment), tax is deducted on each interest payment and on interest accrued on March 31st of every year. For Cumulative Digital FD, tax is deducted on interest accrued on March 31st of every year and on maturity. The TDS amount calculated on the accrued interest is remitted to the tax authorities on behalf of the Customer by Bank. The interest on the TDS amount from April 1st till maturity of the Digital FD is adjusted from the interest payable to the Customer.
4. As per provisions of Finance Act 2009, w.e.f. April 01, 2010, a valid PAN is required to be submitted by all Customers whose tax needs to be deducted. In the absence of a valid PAN, tax will be deducted at the prevailing rate or 20% whichever is higher. Also, Form 15G/H shall not be treated as valid unless PAN is mentioned in such forms. In case the Customer does not want the TDS to be deducted at source, they may submit Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other tax exemption certificate with Bank. Such form or tax exemption certificate has to be submitted every financial year for each Digital FD held and on each renewal of the Digital FD.
The Bank disclaims and you release Bank from any liability for any unauthorised use of your Digital FD Account and for any loss or damage incurred directly or indirectly by you as a result.
You are responsible for safe custody of the Digital FD advise or receipt. In case of misuse of the same, you should immediately inform the Bank.
Payment of interest in case of Digital FD Accounts of deceased Customers

In case of a Digital FD of deceased depositors, interest shall be paid in the manner indicated below:

If date of payment of claim is date of maturity of the deposit, the maturity proceeds will be paid at the contracted rate.
In case of premature withdrawal i.e., in the event of the payment of deposit being claimed before the maturity date - interest will be paid on at applicable rate with reference to the period for which the deposit has remained with the Bank up to date of payment without charging penalty.
Nominee cannot place a request for change of existing maturity instruction of a term deposit.
Claim settlement for missing Customers

As per the provisions of Section 108 of the Indian Evidence Act, presumption of death can be raised only after a lapse of seven years from the date of his/her being reported missing. As such, the nominee / legal heirs have to raise an express presumption of death of the subscriber under Section 108 of the Indian Evidence Act before a competent court. If the court presumes that he/she is dead, then the claim in respect of a missing person can be settled on the basis of the same.

Banker's Lien and Set-Off

The Bank shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future, on all the deposits held by the Customer, whether in single name or joint name(s), to the extent of all amounts payable by the Customer arising as a result of any of Bank's services extended to and/or used by the Customer or as a result of any other facilities that may be granted by the Bank to the Customer.
The Bank is entitled without any notice to the Customer to settle any indebtedness whatsoever owed by the Customer to the Bank, whether actual or contingent, or whether primary or collateral, or whether joint and/or several, including without limitation indebtedness under any indemnity given by the Customer to the Bank hereunder or under any other document/ agreement, by adjusting, setting-off any Digital FD held by the Customer with the Bank, notwithstanding that the Digital FDs may not be expressed in the same currency as such indebtedness.
The Bank's rights hereunder shall not be affected by the Customer's bankruptcy, insolvency, death or winding-up.
In addition to Bank's rights of set-off, lien or any other right which it may at any time be entitled whether by operation of law, contract or otherwise, the Customer authorises the Bank:
1. to combine or consolidate at any time all or any of the accounts and liabilities of the Customer with or to the Bank; and
2. to apply, set-off or transfer at any time (without prior notice to the Customer) any credit balance (whether or not then due) to which the Customer is at any time beneficially entitled (whether singly or jointly) on any Digital FD, in the Customer's name, with the Bank towards the satisfaction of any or all of the Customer's liabilities (whether such liabilities be present or future, actual or contingent, primary or collateral, or several or joint) under the FD Terms or under the terms of any other facilities that may be granted by the Bank to the Customer.
The Bank shall not be under any obligation to exercise any of its rights under this clause.
The above-mentioned rights of the Bank are without prejudice to the obligations of the Customer to pay to the Bank when due all its indebtedness and without prejudice to any other rights that the Bank may have against the Customer for recovery of outstanding from Customer to the Bank.

Deposit Insurance and Credit Guarantee Corporation (DICGC)

Each Customer is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to a maximum of INR five (5) lakh or as updated from time to time, for both principal and interest amount held by him in the same right and same capacity.

Customer Undertaking and Declarations

You agree, declare and confirm as below:

You shall regularly review the changes, modifications or amendments, if any, made by the Bank in any of the above, by accessing the Bank's website or application where these Digital FD Terms are made available.
Your account shall be opened in the centralised branch through the platform provided by Bank or by empanelled BCs or through the Bank’s Digital Portal.
You are funding Digital FD from your own sources and the amount is being transferred from your own account maintained with the Bank or any other bank, as stated in the account opening application form/request.
In case you open the non-face-to-face Account (limited KYC Account), the details of Aadhaar and PAN mentioned in the account opening application form/request relates to you. No other account has been opened by you, using OTP based e-KYC, with the Bank or with any other bank, nor you will open such Account hereafter until you complete full KYC with the Bank in relation to Digital FD Services.
If the Digital FD Account is closed for reasons whatsoever, the Bank may pay the proceeds (after the right of set-off, if any, of the Bank) to you by refunding, by crediting to the source account from which the funds were received for creation of Digital FD Account, which shall be valid discharge of the obligations of the Bank in this regard.
You agree and acknowledge that the Bank is under no obligation to refund to the source account as mentioned above unless it is convinced, based on materials, that the source account belongs to you. If refund in the above manner is not successful, the Bank may retain the available amount with it, and you agree to collect the proceeds (after the right of set-off of the Bank) by reaching out the Bank at customercare@slicebank.com.
You authorise the Bank to exchange, share, disclose or part with, any or all of the Information, including Information pertaining your Digital FD Account (including personal sensitive data or information), whether provided directly by you or otherwise, with any other third parties engaged by the Bank or with whom the Bank has business relationship, as may be required/permitted by any law, rule or regulations or as required by the Bank and you shall not hold the Bank or its agents/representatives liable for using/sharing such information.
You agree that the Bank shall have paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future, on all the deposits held/balances lying in any of your accounts, whether in single name or in joint names. The Bank may exercise such rights at any time, without prejudice to any of its specific rights under any other agreements, at its sole discretion and without notice to you.

Auto Deposits

When a Customer opts to create fixed deposits on monthly basis, then these terms and conditions shall apply. The Customer hereby agrees and acknowledges that Auto Deposits shall be a subset of the Digital FD Services provided by the Bank. All other terms and conditions as applicable to Digital FD shall remain applicable in addition to these terms.

By accepting these terms and conditions, the Customer confirms that they have read, understood, and agreed to these terms, Digital FD Terms along with Mobile Banking Terms.

Capitalised terms not defined here will have the meaning as set out in the Mobile Banking Terms and/or Digital FD Terms.

“Auto Deposits” shall refer to a systematic deposit plan that allows Customers to invest a fixed amount of money at regular intervals, typically monthly, into a fixed deposit account. Each deposit made under the Auto Deposits is treated as a separate Digital FD with its own interest rate, which is determined at the time of each deposit is created with the Bank.

"Savings Account" will refer to an online savings account offered by the Bank which can be opened by a Customer through the Digital Portal.

Eligibility

Only Customers with an active Savings Account opened through the Bank's Digital Portal are eligible to opt for the Auto Deposits. Customers with savings accounts opened through physical branch visits are not eligible for the Auto Deposits.

Terms

By opting for the Auto Deposits, you agree to set up a standing instruction to automatically transfer a fixed amount (as selected by you) from your Savings Account opened through the Bank's Digital Portal, to create a new fixed deposit each month.
Each deposit under Auto Deposits will be treated as a separate Digital FD and the tenure (as selected by the Customer) will start from the date of realisation of each deposit instructions through standing instructions as provided by you.
A separate fixed deposit number will be issued to each Digital FD and accordingly separate fixed deposit receipts/advice will be issued by the Bank for each deposit.
The minimum tenure and amount for creation of an Auto deposit is can be found here .
The deposit tenure and the amount selected for ﬁrst deposit will be applicable to all the future deposits with a minimum gap of 28 days Ex- If you opt to start an Auto Deposit with a monthly contribution of ₹5,000 for one year tenure, commencing on 1st January 2024, you will have 12 separate Digital FDs of ₹5,000 each. These deposits will begin on the 1st of each month, starting from 1st January 2024, and each Digital FD will have a tenure of one year accordingly.
Acceptance of Auto Deposits:
1. Bank may accept the deposit under Auto Deposits as selected by the Customer at its sole and absolute discretion and subject to the terms and conditions contained herein.
2. Bank will only accept deposits under Auto Deposits from Savings Account opened through the Bank's Digital Portal.
3. Bank shall accept deposits under Auto Deposits subject to the minimum amount of deposit prescribed by the Bank. Bank reserves the right to accept or reject the application for Auto Deposits without assigning any reason whatsoever. The amount in relation to such rejected application will not earn any interest and the Bank will endeavour to refund the said amount within 7 (seven) days.
Interest
1. The deposits under Auto Deposits will be booked at the rate of interest prevailing on the date of creation of each month’s Digital FD subject to internal policies of the Bank and applicable laws.
2. Bank, may at its discretion, offer higher interest rates specifically for resident Indian senior citizens.
3. The interest payable on each Digital FD under Auto Deposits will be calculated from the date of actual receipt of the funds by Bank through standing instructions created by you on your savings account created through Bank’s Digital Portal.
Payments and Renewal
1. The interest payouts, premature withdrawal proceeds and maturity proceeds (unless any request for renewal within the prescribed period before the date of maturity is received), will be made in the Bank’s savings account of the Customer opened through Digital Portal.
2. In the event of renewal, the Auto Deposits will be extended for the same tenure as originally selected by the Customer for the first Auto Deposit.
3. Renewal of Auto Deposits will be subject to the rate of interest and other terms & conditions prevailing on the date of renewal.
4. In case where the Customer has opted for renewal of Auto Deposits at the time of creation of first Auto Deposit but subsequently wishes to cancel the renewal request, the cancelation request shall be raised either through Digital Portal or Customer can raise such a request by reaching to Bank at help@slicebank.com at least 3 (three) business days before maturity date of the Deposit.
Standing Instructions/Auto-Debit Facility
1. You agree and authorise that each debit for creation of a Digital FD under Auto Deposits will be a mandate/standing instruction created by you on your Savings Account of the Bank opened through Digital Portal.
2. When the Customer opts for Auto Deposits, the first Digital FD for the first month will be created and the subsequent monthly Digital FDs will have to be made by issuing a standing instruction, which will be presented once in a month on the date specified by the Customer. For the sake of clarity, any subsequent deposit after the first deposit is not acceptable through any other payment mode, except through standing instructions.
3. You further authorize the Bank to automatically debit the specified amount from your account each month, based on the execution date you have selected, until the completion of the Auto Deposit tenure or until you choose to prematurely close the Auto Deposit.
4. Under Auto Deposit, if there is a dishonour of auto debit facility/standing instruction due to insufficient funds in the savings account of the Customer, during its tenure, then the Digital FD for that particular month will not be created. If the standing instruction is dishonoured consecutively for three months, the Bank reserves the right to cancel the Auto Deposit. The Bank also reserves the right to impose charges in case of such dishonour of standing instructions.
5. The Customer may cancel the standing instructions at any time, thereby stopping the Auto Deposit. Any Digital FDs created under the Auto Deposit prior to the cancellation will remain valid. However, once cancelled, the Auto Deposit cannot be reinstated. If the Customer wishes to set up a new deposit under the Auto Deposit after cancellation, a new Auto Deposit request must be submitted.
Pre-mature withdrawal
1. As separate Digital FDs are created under an Auto Deposits, pre-mature withdrawal request can be made for each such separate Digital FDs.
2. Pre-mature withdrawal of Auto Deposits is permitted for either one Digital FD or all the Digital FDs created under the same Auto Deposit.
3. Pre-mature withdrawal of one Digital FD created under Auto Deposit shall not in any manner affect the creation of subsequent Digital FDs under the same Auto Deposit.
4. Such pre-mature withdrawal of one or more Digital FDs under the Auto Deposit will attract such penalty as mentioned in the schedule of charges.
5. In the event of premature closure or withdrawal of one or more Digital FDs, each Digital FD will earn interest at the rate applicable to a term deposit that has actually remained with the Bank and not at the contracted rate. In case of premature withdrawal of Digital FDs based on instructions of Customer, the Bank shall have the right to recover interest already paid or the penalty, if any, from the proceeds of the Digital FD(s) in accordance with applicable laws prevailing on the relevant date.

Links to other websites

Links to websites, interfaces or applications, other than Bank’s own website or application, are provided solely as information on topics that may be useful to you in relation to the Digital FD Services. Links to such websites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such websites.

The Bank has no control over the content on such third-party websites, interfaces or applications. The Bank neither makes warranties concerning the content of such websites, including accuracy, authenticity, completeness, usefulness, reliability of these websites, interfaces or applications, nor does the Bank warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination.

If you choose to follow a link to a website, interface or application not controlled by the Bank, you must do so at your own risk. Once you are redirected to a third-party website or application interface, the terms of use of service and privacy policies of such websites, interfaces or applications will apply to you.

Indemnity and Disclaimer of Liability

You, at your sole expense, will defend, indemnify and hold harmless, the Bank, its affiliates, licensees and its officers, directors, agents and employees from and against all claims, demands, damages, losses, costs and expenses (including attorneys’ fees) arising from or relating to: (i) your use or misuse of the Digital FD Services; (ii) any claims from any third-party in connection with your use or access of the Digital FD Services; (iii) any violation by you of the Digital FD Terms (including any breach of the representations, warranties, and covenants made by you); (iv) improper or incorrect Information provided by you; (v) use or misuse of the Information; or (vi) incorrect information of an unrelated third party provided by you.

The Bank reserves the right, at your expense, to assume the exclusive defence and control of, including rights to settle, any matter for which you are required to indemnify the Bank, and you agree to cooperate with the Bank for such defence and settlement. The Bank will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party in respect of the Bank that is subject to the foregoing indemnification, upon the Bank becoming aware of it. You may, at your own expense, engage separate counsel to advise you regarding a claim and to participate in the defence of the claim, subject to the Bank’s right to control the defence and settlement.

You agree that the Bank, its directors, officers, employees, agents, shareholders, and representatives will in no way be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including damages for loss of data or Information, profits, goodwill, revenue, profits, or other intangible losses, for any reason whatsoever, including any interruption or stoppage to your use of the Services, or hacking or unauthorized access your Digital FD Account and Digital FD Services.

No advice or information, whether oral or written, obtained by you from the Bank or based on use of Digital FD Services will create any warranty or liability on the Bank.

Bank's sole obligation in the event of interruption in Digital FD Services or loss of access to Digital FD Services, will be to use all reasonable endeavours to restore the Digital FD Services or your access to the Digital FD Services.

Miscellaneous

Grievance Redressal: Any complaint, dispute, or grievance in relation to the Services should be addressed to the Bank, in accordance with the Bank’s Grievance Redressal Policy.
Governing law and disputes resolution: These Digital FD Terms will be governed by and construed in accordance with applicable laws of India. If a dispute arises between you and the Bank, our goal is to provide you with a cost-effective and quick resolution, and hence, we encourage you to first contact the Bank at help@slicebank.com and/or customercare@slicebank.com to try resolving your problem directly with us. If you and the Bank are unable to resolve any dispute amicably within 30 days of the notice of such dispute, the dispute will be subject to the exclusive jurisdiction of the courts in Guwahati, Assam, India.
Changes to these Terms: The Bank may modify these Digital FD Terms, from time to time. It is your responsibility to review the Digital FD Terms from time to time, to see if it has been modified. The updated version of these Digital FD Terms will be immediately effective upon being posted on the Bank’s Digital Portal. The continued use of the Digital FD Services upon modification of the Digital FD Terms or after being updated on the Bank’s Digital Portal will be construed as the acceptance of the said modified Digital FD Terms.
Transferability: These Digital FD Terms, or any right or interest, will not be assignable or transferable by you.
Entirety of the Terms: These Digital FD Terms, which includes along with any agreements, annexures, exhibits, or any additional service terms applicable to the Digital FD Services, which are incorporated by reference, constitute the entire terms between the Bank and you regarding the subject matter hereof.
Severability: If any portion of these Digital FD Terms are found to be unenforceable, the remaining portion will continue to remain in full force and effect.
No waiver: If the Bank fails to enforce any part of these Digital FD Terms, it will not be considered a waiver.

Savings account terms

Terms and Conditions for Savings Account

These terms and conditions, along with any agreements, annexures, exhibits, or any additional service terms applicable to the Savings Account services opened through Digital Portal (as defined below) (“SA Terms”), apply when you ("you" or "Customer") opt to avail Savings Account services (“SA Services") provided or made available by slice small finance bank limited (the "Bank", "we", "us" or "our"). The SA Services may be made available through any digital platform (including slice mobile application) operated by the Bank ("Digital Portal").

In addition to the Mobile Banking Terms, the SA Terms along with any other agreements or documents executed / accepted by you, apply to you for availing the SA Services via the Digital Portal as identified below in the SA Terms offered by the Bank.

By registering for using SA Services, you signify that you have read, understood and agree to your agreement to be bound by these SA Terms without any limitation. If you do not agree with these SA Terms, please do not register or avail SA Services.

The headings contained in these SA Terms are for reference purposes only.

These SA Terms incorporate the Privacy Policy of the Bank (including any updates and amendments), available here by reference.

Definitions

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

“Applicant" refers to an individual who submits a formal request to the Bank for the opening of the Savings Account, subject to the eligibility criteria provided in these SA Terms and Banks' policies and procedures, on the Digital Portal where SA Services are made available by the Bank.

"Debit Card" is a physical and/or virtual payment instrument linked to a Savings Account which can be used by the Customer to withdraw cash, make domestic online payments, point of sale (PoS) terminal or quick response (QR) code transactions, cash withdrawal through domestic PoS and contactless payments subject to applicable laws.

"Savings Account" will refer to an online savings account offered by the Bank which can be opened by a Customer through the Digital Portal.

"IMPS Facility" means the Immediate Payment service Funds Transfer Facility through NPCI system.

"IMPS Regulations" means the circulars, guidelines, or regulations issued by the NPCI and any practices and/or policies followed by the Bank from time to time.

“KYC Policy” means the board approved know your customer policy of the Bank.

"NPCI" means National Payment Corporation of India.

"Regulations" means circulars, guidelines, or regulations and/or guidelines issued by the RBI, NPCI or any other regulators for the subject matter contained under these terms.

"RBI" means the Reserve Bank of India.

Eligibility criteria to avail the SA Services:

Applicant should be an Indian citizen and resident of India.
Applicant should be 18 years and above.
Applicant should be physically present in India at time of digital application and/or video-KYC.
Applicant should not have a tax obligation to any country other than India (FATCA reportable).
Applicant should not be a PEP under the KYC Framework.
Applicant’s mobile number should be linked with Aadhaar number of the Applicant (only applicable in case of accounts opened using OTP based Aadhaar e-KYC authentication)
Each eligible Applicant can only open one Savings Account.

The Bank may, in its sole discretion, impose any other qualification or eligibility criteria.

FATCA-CRS Declaration

You agree to abide by and be bound by all applicable regulations, instructions or guidelines issued by the RBI, the Common Reporting Standards ("CRS"), Foreign Account Tax Compliance Act of United States of America ("FATCA") and any other governmental or regulatory authority.
You understand that the Bank is relying on your Information for determining your compliance status with FATCA and CRS (Common Reporting Standards).
You agree to inform the Bank within 30 days if there is any change in such Information.
You agree that the Bank may also be required to report the relevant details to a governmental or regulatory authority in India, including Central Board of Direct Taxes, or close or suspend your Savings Account, if instructed or required by applicable law to do so.

Digital Saving Account Services (“SA Services”)

In relation to SA Services, the Bank will provide the following functionalities and services to you on the Digital Portal.

Open Savings Account, on receipt of a request/application from the Applicant through Digital Portal.
Payment of interest on the Savings Account will be determined based on the interest rate schedule available on the Bank's website and in accordance with the Bank's policies and guidelines, which align with the RBI's issued directives.
The amount lying in the Savings Account is withdrawable on demand anytime through the Digital Portal subject to applicable laws and Bank’s internal policies.
No monthly minimum balance requirement on the Savings Account.
Provide customer support to you in relation to the SA Services, including providing the facility to raise grievances, complaints or provide feedback, in relation to SA Services; and
Provide any ancillary or support services to enable you avail the SA Services.

During your registration, for the purpose of creating and enabling the use of SA Services by you, Bank may collect, process and share Information about you with third parties in accordance with its KYC policy and Privacy Policy, for undertaking customer identification procedures and customer due diligence and verification, in accordance with KYC Framework ("KYC Process").

Savings Account will be opened in a single holding capacity (cannot be a joint account).

Customer Consents and Representations

The Customer consents to and provides the following representations and warranties:

The Customer agrees to voluntarily share their personal data, including Aadhaar details and PAN card number, for opening their Savings Account and to avail allied services from Bank.
There is no insolvency proceedings initiated against the Customer, nor the Customer has been adjudicated insolvent.
The information provided through the Digital Portal during the Savings Account opening process are accurate and complete and will be considered final and legally binding. The Customer agrees that Bank has every right to reject the Savings Account opening application, if there is any erroneous, incomplete or misleading information provided by the Customer or for incomplete or erroneous KYC or Anti Money Laundering (“AML”)/ Counter Finance Terrorism (“CFT”) checks failure or in accordance with Bank’s internal policies or for any other reason whatsoever and without assigning any reason. The Bank reserves the right to take necessary action, legal or otherwise, if the Bank finds any wilful modification/ withholding of information or misrepresentation by the Customer. The failure to provide requisite documentation and information will result in rejection of application by the Bank.
The Customer will be required to submit at the Bank’s request, such further documents, information, matters and things as the Bank may consider necessary for opening the Savings Account.
The Customer has assessed the suitability of the Savings Account based on their risk tolerance, financial capability, and investment objectives. If any transactions are flagged as suspicious or undesirable, the Bank maintains the right to initiate suitable measures.
The Customer herewith agrees that if the application is rejected, the Bank may retain the documents and any document submitted by the Customer on the application or otherwise.
The Customer confirms that the Savings Account is being opened for their own use and that the mobile number, SIM and device used for opening the Digital Account belongs to the Customer.
The Customer will not share the credentials pertaining to the Savings Account opening with any other person.
The Customer opening a Savings Account under these SA Terms declares that if there is a change in the tax residency (i.e. FATCA reportable) they will intimate the Bank within 30 days of such change.
The Customer agrees that the Bank may debit their Savings Account with service charges as per the schedule of charges as may be applicable from time to time provided on the website of the Bank. Goods and Service Tax (GST) as applicable will be levied on all fees and charges levied by the Bank and/ or in connection with banking services.
In case of adding funds to the Savings Account, credit to the Savings Accounts will be done post opening of Savings Account as per the onboarding process and KYC Process and is subject to realisation of the funds received from the Customer.
In case of the Customer using the Savings Account for accepting / receiving any foreign contributions, the Customers need to comply with the provisions under the Foreign Exchange Management Act, 1999 or such other applicable laws.
All transactions in Savings Account will be done by legitimate sources only and Savings Account will not be used for any purposes which are contrary to law. In the event, the Customer violates these SA Terms or applicable laws, the Bank may, in its absolute discretion, discontinue the SA Services without any notice to the Customer.
The Customer will pay to the Bank forthwith upon demand by the Bank, without demur, the proceeds of any wrong credit or excess credit or debit balance or overdraw, received/created in whatsoever manner. In all such instances, the Bank will be entitled to undertake appropriate measures deemed fit in the interests of the Bank.
Notwithstanding any other provisions contained herein, the Bank reserves the right to place a debit freeze, total freeze or exercise its lien on the Savings Account or to close or suspend the use of the Savings Account at the absolute discretion of the Bank, with or without notice to the Customer. The Bank may at its sole discretion take suitable action if Bank is of the opinion that continuation of services is prejudicial to its interest. The foregoing actions may be taken by the Bank in the event any discrepancies, inaccuracies in the information submitted by the Customer, any false / representation made by the Customer with reference to such Savings Account, action pursuant to any observations arising out of regular monitoring of Customer's Savings Account by the Bank and/or any issues arising at the time of document verification. Provided however, the Bank may seek additional information or documents from the Customer at any time and Customer will comply with such requests failing which the Bank may exercise of any of the rights. In case the Savings Account is put under freeze, the Customer agrees that principal amount in such account kept along with the interest accrued (if any), will be payable to in accordance with Bank’s internal policies. The closure proceeds will be payable only once lien is expressly removed by the Bank.
The Customer shall regularly review the changes, modifications or amendments, if any, made by the Bank in any of the above, by accessing these SA Terms.
The Customer authorizes the Bank to exchange, share, disclose or part with, any or all of the Information, including Information pertaining your Savings Account (including personal sensitive data or information), whether provided directly by you or otherwise, with any other third parties engaged by the Bank or with whom the Bank has business relationship, as may be required/permitted by any law, rule or regulations or as required by the Bank and the Customer shall not hold the Bank or its agents/representatives liable for using/sharing such information.
The Customer declares and confirms that the Bank shall be entitled to rely on all/any communication, information and details provided on the electronic form and all such communications, information and details shall be final and legally binding on the Customer and the Customer agrees to indemnify the Bank for any loss or damage cause to the Bank on account of Bank placing reliance on such communication/information.
The Customer understands and agrees that interest on the amount funded will be credited to the Savings Account subject to activation of such account and only from the date when the funds have been credited into the account.

KYC Process

You provide your express consent to the Bank to undertake the KYC Process for SA Services. KYC can be done by the Bank in the following ways in accordance with KYC Framework and KYC Policy:

Provide your Permanent Account Number ("PAN") – You have to enter or confirm your PAN details which may be fetched from CICs.
Fetching identification information - You will be asked to complete your KYC either through offline verification of Aadhaar or through e-KYC authentication of Aadhaar or by enabling us to obtain your details from the CKYCR or DigiLocker. You hereby authorise the Bank to verify/check/obtain/download your KYC details from the CKYCR as and when required for the purpose of KYC verification; (i) by verifying such details through CKYC number (i.e., KYC identifier number-KIN) provided by you or (ii) by obtaining such CKYC number/KIN, through details made available by you. You also consent to receive information from CKYCR or DigiLocker through SMS/e-Mail on the herein mentioned mobile number/e-Mail Id in this regard. You further consent that the Bank shall update your KYC details on to CKYCR and this might entail downloading your details from CKYCR once again.
Employment and income details: You will be required to provide your employment and income details for setting up Savings Account on the Digital Portal.
Current Address: You will be required to verify your current address for completion of your KYC verification.
Bank account verification: In case of non-face to face KYC, in order to activate your Savings Account, the first transaction should be a credit to your Savings Account from your KYC complied bank account; or
Video KYC: You will be required to complete the video KYC as prescribed under the KYC Policy and KYC Framework. You agree and acknowledge that, you will provide all necessary permissions and consents for the purpose of carrying out video KYC with Bank.
Accounts opened through OTP Based E-KYC Authentication from UIDAI
- The Customer understands and agrees that being a limited KYC account, the operations of the account shall be limited.
- The Customer should complete the Full KYC confirming to the guidelines issued by the Reserve Bank of India within 1 year from the date of opening of Digital Saving account.
- The Customer herewith confirm that they have not opened any account/deposit through Aadhaar-OTP e-KYC verification in any other bank and they will not open any other account through Aadhaar-OTP e-KYC verification in any other bank.

The Bank may undertake the said KYC Process in such other manner as it deems fit provided it is in accordance with KYC Framework and KYC policy.

Use your Aadhaar details and authenticate yourself through Aadhaar based authentication system for the purpose of establishing your identity.
Link the Aadhaar Number to all your existing/new/future accounts and customer profile (CIF) with the Bank.

OTP based Aadhaar e-KYC authentication

You agree and acknowledge that for the Savings Account opened in non-face-to-face mode i.e., through OTP based Aadhaar e-KYC authentication, the aggregate balance of all your deposit accounts shall not exceed INR one (1) lakh. You further understand and agree that the aggregate of all credits in a financial year, in all your accounts taken together, shall not exceed INR two (2) lakh.
You understand that the Savings Account opened using OTP based e-KYC shall not be allowed for more than one year unless identification as per section 16 or section 18 (Video KYC) of RBI Master Direction - Know Your Customer (KYC) Direction, 2016 updated from time to time is completed. You agree and acknowledge that the Bank reserves the right to close the Savings Account opened through OTP based e-KYC immediately if the aforementioned limits of INR one (1) lakh and INR two (2) lakh are breached.
You hereby declare that you have not opened any other account, nor will you open using OTP based e-KYC in non-face-to-face mode with any other banks.
You authorise the Bank while uploading KYC information to CKYCR, to indicate that your Savings Account is opened using OTP based e-KYC and other banks shall not open accounts based on such the KYC information.
You authorise the Bank to strictly monitor aforesaid procedures including systems to generate alerts in case of any non-compliance/violation, to ensure compliance with the above-mentioned conditions.

Video based KYC

Video KYC process is available only for Customers who are physically present in India and if the same can be confirmed through their live location through geo- tagging and shall be accessible only during the working hours defined by the Bank.
Video KYC process shall work only in good network/internet conditions and Customer should possess requisite documents and materials as informed on the journey page at the time of the video KYC process to avoid any inconvenience.
On opting for video KYC process, a two-way video call will be initiated between the Customer and the Bank’s official to start the video KYC process. As a part of Video KYC process, the Customer shall be required to verify their identity by answering certain questions asked by Bank’s officials through the video call.
The Customer shall be required to co-operate with the Bank’s officials in every manner and provide all such relevant information/data/documents including but not limited to allowing Bank’s officials to capture their photographs or screenshots of various documents including but not limited to Officially Valid Documents (“OVD”), PAN, etc.
The Customer agrees and consents to co-operate and provide all such relevant data/documents, etc. for the purpose of video KYC process.
The Customer authorizes the Bank to collect/store/verify/process any and all information/details received through the video KYC process including but not limited to the video call itself, information received from documents/information captured/shared through the video call.
In case the documents shown and verified by the Bank’s officials over a video call do not comply with the Bank policy and/or relevant guidelines due to any reason whatsoever, the application request shall be rejected.
Customers who have opted for video KYC process for SA Services agree that their request is subject to verification and may be rejected by the Bank for various reasons including, but not limited to:
1. Call drop due to network/internet issues at the Customer’s or the Bank’s end or
2. Documents matching criteria is not fulfilled or
3. Bank official is unable to capture the screenshot of Customer’s photo or any document or
4. Customer is not ready to co-operate with Bank officials or
5. Location of Customer is outside India or
6. face mismatch or
7. poor quality uploaded documents or
8. For any other reason at the discretion of the Bank.
The Customer understands that the video KYC process is subject to the availability of Bank officials to conduct such video KYC.

Politically Exposed Persons

By continuing usage of the SA Services, you hereby represent that you are not a Politically Exposed Person (PEP) as defined by the RBI. PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.
You agree and undertake to immediately notify us in circumstances where your PEP status changes, or you become related to a PEP. You should promptly notify us in writing to ensure that appropriate steps are taken in accordance with Applicable Law and our policy. You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by the regulators and as per our KYC Policy. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with us to complete all continuing compliance requirements applicable to a PEP as will be notified to you by us to ensure uninterrupted use of the Savings Account.

Operational Conditions for Savings Account

The Customer must complete the online application form and provide the information requested by the Bank. The Bank reserves the right to withhold the application form for reasons such as errors in the application, failure of address verification, or other criteria established by the Bank's internal policies. The Customer shall be required to complete the online application form and provide requested details asked by the Bank.
Opening of Savings Account is subject to verification, and the Bank reserves the right to reject the application form /request for opening Savings Account without providing any reason to the Customer.
The Savings Account should be used to route transactions of only non-business and non-commercial nature. Savings Account.
Payment of interest on the Savings Account shall be made at the contractual rates notified by the Bank in accordance with its internal policies, subject to the guidelines prevailing as on the date on which the Savings Account became effective. Rate of interest is dependent on the balance in the Savings Account and other factors notified by the Bank. The interest will be calculated and paid by the Bank in conformity with the formulae and terms suggested by RBI and Indian Banks’ Association (IBA) and the details of the prevailing interest rate can be found here.
Bank may, at its discretion, formulate Savings Account schemes specifically for resident Indian senior citizens, offering higher rates of interest.
The Bank may levy fees and charges on the Savings Account as per schedule of charges duly placed on the website of the Bank.
The Savings Account balance can be withdrawn by the Customer on demand at any time through the Digital Portal.
The Bank computes interest on the Savings Account based on the actual number of days in a year (i.e. 366 days in a leap year and 365 days in a non-leap year).
The Savings Account to be opened by the Customer in their own name and is not available for joint account holding pattern.
The Customer will be sent a statement of account by email every month and the Customer can also access the statement of account on the Digital Portal. If you prefer a physical passbook for your Savings Account, please contact via the Digital Portal or help@slicebank.com.
The Customer should carefully examine the entries made in their statement of account and draw Bank’s attention to any errors/omissions/ discrepancies that may be discovered within 15 days from the date of entries falling which the same will be deemed to be correct and accepted by the Customer.
Cheque book facility, SMS alert facility, debit card facility for the Savings Account will be made available to the Customer as per the schedule of charges as duly placed on the website of the Bank.
On failure of payment of funding balance in the Savings Accounts by the Customer due to any technical error, Customer will get a refund of the same in the original payment mode.
The Customer herewith agrees to be contacted by the Bank to receive information with respect to account maintenance, alerts, payments due, servicing their relationship with the Bank, associates or agents through telephone/mobile/SMS/email, etc. To ensure that you may not receive any unsolicited commercial calls please contact your telephone service provider for registration in the National Do Not Call Register of Telecom Regulatory Authority of India (TRAI). If, however, you still receive any unwelcome call, please write to us at help@slicebank.com indicating, if possible, the telephone number from which the call was made.
The Customer will keep the Bank informed at all times, of any change in their communication address and employment or any other personal information and authorize the Bank to update the change in the Bank’s record. The Customer will be solely responsible for ensuring that the Bank has been informed of the correct address for communication and any changes/corrections in the Customer's personal information or communication details.
The Bank reserves the right to change, modify or amend the SA Terms and the formalities/procedures for opening Savings Account periodically or from time to time, and the Customer shall be responsible for regularly reviewing such changes, modifications or amendments as may be hosted/published on the website or on the Digital Portal.
The Bank disclaims and you release Bank from any liability for any unauthorized use of your Digital Saving Account and for any loss or damage incurred directly or indirectly by you as a result.
The Bank reserves the right to disclose the information about the Customer if required or permitted by applicable law, at the request or order of any statutory, regulatory or judicial authority, or if such disclosure is required for the purposes of preventing fraud.
The Bank shall have absolute right to discontinue any SA Services by providing 30 (Thirty) days' notice. Such notice may be provided through the Digital Portal or through such means as authorized by the Bank.
The Bank reserves the right to close Savings Account of any Customer in case of unsatisfactory conduct or operation of such account or if the Bank is of the view that continuance of such account is detrimental to the interest of the Bank.
UPI handle for your Savings Account - You hereby expressly consent to the creation/linking of a UPI handle/UPI ID to your Savings Account and agree to utilize the UPI services strictly in accordance with the terms and conditions prescribed by the Bank and as may be amended from time to time. You further acknowledge and agree that the issuance, structure, and format of the UPI ID/UPI handle shall be determined solely at the discretion of the Bank, subject to and in compliance with applicable laws, regulations, and guidelines. In the event you wish to de-register your UPI handle/UPI ID, you shall be required to submit a request to our customer support team at help@slicebank.com or at 080 4832 9999 or through the “Help & Support” section of the Digital Portal and such de-registration shall be effected in accordance with the Bank’s policies and applicable regulatory requirements
Refunds/Chargeback- In case of failed/returned/rejected/cancelled transactions, , refund shall be processed in accordance with applicable laws and refund (if any) would be received on your Savings Account within such timelines as prescribed under applicable laws. However, if you erroneously process a payment to a merchant, you can notify the Bank to raise a chargeback, and the same shall be processed in accordance with applicable laws.

Closure of Customer Account

Customer may close their Savings Account by making a written request on the Digital Portal.
If the Savings Account is closed for reasons whatsoever by the Bank, the Bank shall provide the option to the Customer to withdraw or transfer the proceeds (after the right of set-off, if any, of the Bank) to some other account of the Customer as per the Bank’s policy which will be valid discharge of the obligations of the Bank in this regard.
The Bank may, at its sole discretion, place operational restrictions in any Savings Account of the Customer or close such account, if the account is conducted unsatisfactorily in the opinion of Bank or if the account does not conform to the extant guidelines of RBI.
The Bank reserves the right to close Savings Account without notice to the Customer if the Bank has reason to believe that the funds are received from illegitimate source.
The Bank reserves the right to close any Savings Account of the Customer in case of unsatisfactory conduct or operation of such account or if the Bank is of the view that continuance of such account is detrimental to the interest of the Bank.

Inoperative Account

Savings Accounts which have not been operated for over a period of 2 years will be categorised as ‘inoperative’ account. However, Digital Saving Accounts which are not operated for 10 years will be categorised as ‘unclaimed deposit Account’ as provided under RBI circular “Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions dated Jan 01,2024”. A request for activation of such inoperative Account has to be made by the Customer through the Digital Portal subject to Bank’s internal policies and applicable laws.

Nomination

Nomination facility is available in accordance with applicable laws including but not limited to the Banking Companies (Nomination) Rules, 1985. Customer has to designate a nominee (who should be an individual) while availing SA Services. In case the nominee is a minor, the name of the guardian to be specified. In case a nomination facility has been availed by the Customer, the Bank will be discharged of its liability in regard to the funds available to the credit of such Savings Account by making the payment to the nominee subject to the terms specified by the Bank, unless specifically prohibited by an order of the Court.
Customer shall nominate any person who, in the event of death of the Customer shall become entitled to the Savings Account proceeds and the payment thereon. If such nomination is not made at the time of opening of Savings Account, it may be made by the Customer at any time after Savings Account is opened, by such means as may be prescribed in Bank’s internal policies.
In the event of death of the Customer in respect of which a nomination is in force, the nominee shall be entitled to the proceeds of the Savings Account of the Customer. For the aforesaid purpose, the surviving nominee shall make an application to the Bank, supported by all relevant documentation.
Only one nominee is permissible for Savings Account and the nominee should be an individual.
The Customer is at liberty to change the nominee, through declaration in the appropriate form/in the manner stipulated by the Bank to revise the nomination during the maintenance of the Savings Account with the Bank.
The Customer authorizes the Bank to act upon his/her instruction regarding nomination, cancellation, or variation of the nomination in respect of the Savings Account. The Customer shall not hold the Bank responsible and shall indemnify the Bank on account of any claim against the Bank for acting on the instruction of nomination given by the Customer.
In the absence of any nominee, the Bank may retain any and all funds in Savings Account until it establishes the identity and credentials of the successor/legal heir to the account holder to its satisfaction, which may include evidence in accordance with applicable law.
Advantages of Nomination- The Bank actively recommends that all Customers avail nomination facility. The nominee, in the event of death of the Customer, would receive the proceeds of the Savings Account. The Bank may retain the proceeds in the Savings Account until it establishes the identity and credentials of the legal heir(s) to its sole satisfaction, and the Bank reserves the right to demand and inspect requisite documentation in this regard, including a succession/legal heir certificate and/or a duly probated will. Without prejudice to the foregoing, in the event of death of a Customer, the Bank reserves the right to pursue all courses available to it under law and equity at its discretion to recover any amounts that are payable to the Bank, from the heirs or nominees of the Customer.

Banker's Lien and Set-Off

The Bank shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future, on all the deposits held by the Customer, whether in single name or joint name(s), to the extent of all amounts payable by the Customer arising as a result of any of Bank's services extended to and/or used by the Customer or as a result of any other facilities that may be granted by the Bank to the Customer.
The Bank is entitled without any notice to the Customer to settle any indebtedness whatsoever owed by the Customer to the Bank, whether actual or contingent, or whether primary or collateral, or whether joint and/or several, including without limitation indebtedness under any indemnity given by the Customer to the Bank hereunder or under any other document/ agreement, by adjusting, setting-off any balance in the Savings Account held by the Customer with the Bank, notwithstanding that the Savings Account may not be expressed in the same currency as such indebtedness.
The Bank's rights hereunder shall not be affected by the Customer's bankruptcy, insolvency, death or winding-up.
In addition to Bank's rights of set-off, lien or any other right which it may at any time be entitled whether by operation of law, contract or otherwise, the Customer authorises the Bank:
1. to combine or consolidate at any time all or any of the accounts and liabilities of the Customer with or to the Bank; and
2. to apply, set-off or transfer at any time (without prior notice to the Customer) any credit balance (whether or not then due) to which the Customer is at any time beneficially entitled (whether singly or jointly) on any Savings Account, in the Customer's name, with the Bank towards the satisfaction of any or all of the Customer's liabilities (whether such liabilities be present or future, actual or contingent, primary or collateral, or several or joint) under the SA Terms or under the terms of any other facilities that may be granted by the Bank to the Customer.
The Bank shall not be under any obligation to exercise any of its rights under this clause.

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

Auto Debit facility

You hereby agree and acknowledge that any mandate/standing instruction/auto debit/UPI autopay registered by you on your Savings Account will be executed by the Bank as per applicable law. UPI Autopay can be set up on Savings Account as prescribed by RBI, NPCI and all applicable laws.

The Bank will provide you with an online facility to withdraw any auto debit instruction at any point of time in accordance with applicable laws following which no further recurring transactions shall be allowed for the withdrawn auto debit. The Bank will clearly communicate to you about the facility to withdraw auto debit at any point of time at the time of registration and later on whenever felt necessary.

Customers shall be given an option to select the maximum amount allowed for auto debit facility as per applicable laws. Appropriate factor of authentication will be taken from the Customers while setting up the auto debit facility. Customers can pause, modify or cancel the auto debit facility anytime and these would also entail undertaking appropriate factor of authentication.

Adding Beneficiary

Bank provides you with a facility of adding beneficiaries in your Savings Account in accordance with applicable laws whereby you can register the beneficiaries by providing their bank account details. This would enable you to transfer money from your Savings Account to the beneficiaries’ bank account. The detailed process of adding beneficiaries, transaction limits, maximum number of beneficiaries which can be added, cooling off period etc., can be found here.

Debit Card Facility

The Most Important Terms and Conditions (MITC) for Debit Card can be found here.

Terms for IMPS Facility

These terms and conditions shall govern every payment order issued by the Customer under the IMPS Facility ("Electronic Transfer Terms").
The Customer understands and acknowledges that nothing contained under the Electronic Transfer Terms shall be construed as creating any contractual or other rights against the RBI, NPCI or any participant in the payment system other than the Bank to the extent provided under these Terms.
The Customer hereby acknowledges that the Customer has read and understood the Regulations and agrees that the rights and obligations provided therein and, in these Electronic Transfer Terms in so far as it relates to the Customer shall be binding on the Customer with regard to every request for transfer of electronic funds from Savings Account under IMPS Facility made by the Customer
The Bank shall be entitled, at its sole discretion, to accept and process or reject such request for an electronic transfer of funds from your Savings Account under IMPS Facility. These Electronic Transfer Terms shall be in addition to and not in derogation governing the Regulations and/ any other regulations, circulars, orders, notifications, press releases, instructions issued by RBI or NPCI from time to time, including the aforesaid regulations and any practices or policies followed by the Bank from time to time.
The Bank will have no obligations to any person including any beneficiary (or any person claiming under or through such beneficiary) other than the Customer, for the execution of any request for transfer of funds under IMPS Facility from their Savings Account. All obligations of the Bank to the Customer in relation to any request for transfer of funds under IMPS Facility shall cease upon the execution of such request by the Bank.
The Bank shall execute a payment order for IMPS Facility requested or made by the Customer unless: -
1. The funds available in the Savings Account of the Customer are not adequate or properly applicable to comply with the payment order and the Customer has not made any other arrangement to meet the payment obligation.
2. The payment order is incomplete, or it is not issued in the agreed form.
3. The Bank has reason to believe that the payment order is issued to carry out an unlawful transaction.
4. The payment order cannot be executed in terms of the Regulations through the IMPS system of the NPCI.
The Bank will upon execution of every payment order under IMPS Facility by it will be entitled to debit the Savings Account of the Customer, the amount of the funds transferred together with charges payable thereon.
No payment order issued by the Customer shall be binding on the Bank until the Bank has accepted it.
Disclaimers:
1. Bank shall not be liable for any incomplete information provided by the Customer while transferring funds through IMPS Facility through use of Bank provided channels or through any assisted channels, if made available by the Bank.
2. The instructions issued for online fund transfer under IMPS Facility shall be irrevocable and the Customer understands that they shall not be entitled to revoke / cancel the same under any circumstances after initiating the transfer on their Savings Account.
3. The Customer shall solely be responsible for the correctness of all information pertaining to the beneficiary and the transaction while availing the IMPS Facility.
4. The Customer shall report to the Bank any discrepancy in the execution of a payment order under IMPS Facility.
5. In case of any failure of transaction for the reasons like server connectivity, time out, system downtime etc., the amount involved under such transfers will be restored to the account originally debited.
6. Transactions initiated through IMPS cannot be cancelled discontinued or stopped and becomes irrevocable when such instructions have been executed and/ or are in the Bank's system, and the revocation of such instruction is not possible.
7. The Customer agrees that they are aware that there is a risk of non-payment to the beneficiary on the day of the transaction which may be for any reason whatsoever, including a holiday at the beneficiary's branch. The Bank or NPCI or any other participant in the IMPS shall not be liable, in any manner whatsoever, to the Customer for any such delay.
8. The Customer agrees that RBI and/or NPCI may terminate, modify, assign the provisions of the IMPS Facility and the Customer shall abide by the same.

Cheque Book Facility

Upon request of cheque book by the Customer, the Bank may endeavor to make the facility available to the Customer, as per the Bank policies and Regulations.
Customer Eligibility: Customer must be a resident Individual having an operational Savings Account.
Customer Representations:
1. The Customer agrees and acknowledges that upon request, the cheque books will be dispatched by courier /messenger/ mail or through any other mode by the Bank at its discretion to the address notified by Customer for correspondence.
2. The Customer agrees to preserve the cheque book issued by the Bank and in case of loss/theft of the same are required immediately inform the Bank in writing.
3. The Customer agrees that there would be sufficient funds in their Savings Account for effecting transactions through cheques.
4. The Customer agrees that the Bank shall not be liable for any consequences arising out of non-compliance by the Bank of any instructions due to inadequacy of funds and the Bank can at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds without prior approval from or notice to the Customer.
5. The Customer agrees that frequent dishonor of cheques or high value cheque returns due to insufficient funds may lead to discontinuation of cheque books/closure of Savings Account.

Governing law and disputes resolution

These SA Terms will be governed by and construed in accordance with Indian laws. If a dispute arises between you and Bank, our goal is to provide you with a neutral and cost-effective means of resolving the dispute quickly. In the event of a dispute, we encourage you to first contact the Bank at 08048329999 or help@slicebank.com to try resolving your problem directly with us. If the parties are unable to resolve any dispute amicably within 30 days of the notice of such dispute, the dispute will be subject to the exclusive jurisdiction of the courts in Guwahati, Assam, India.

Force Majeure

The Bank shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of the Bank to perform any of its obligations under these Terms and Conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure event continues.

"Force Majeure Event" means any event due to any cause beyond the reasonable control of the Bank, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

Indemnity and Limitation of Liability

You agree that you shall indemnify and hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing any of the services or due to any negligence/mistake/misconduct on my part or breach or non-compliance by you of any of the Terms relating to any of the services or by reason of the Bank in good faith taking or refusing to take action on any instruction given by you.
The Bank will not be liable for any connectivity, network or data issues leading to non-completion or wrong/ false/incomplete information being provided by the Customer leading to the incompletion of their application for opening of Savings Accounts.
Under no circumstances the Bank will be liable to the Customer for any indirect, incidental, consequential, special or exemplary damages in connection with the Savings Account.

Grievance Redressal

Bank has a clearly defined grievance redressal process for speedy and effective redressal of customer grievance. For registering grievances, kindly escalate the complaint/grievance on the Digital Portal of the Bank.
Any complaint, dispute, or grievance in relation to the Services should be addressed to the Bank, in accordance with the Bank’s Grievance Redressal Policy.

Miscellaneous

Insurance: All Bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions. The details of the insurance cover in force will be made available to the Customer. The DICGC insures all deposits such as savings, fixed, current, recurring, etc. deposits except the following types of deposits:
1. Deposits of foreign Governments
2. Deposits of Central/State Governments
3. Inter-bank deposits
4. Deposits of the State Land Development Banks with the State co-operative bank
5. Any amount due on account of and deposit received outside India
6. Any amount, which has been specifically exempted by the corporation with the previous approval of RBI.
Each Customer in the Bank is insured up to a maximum of Rs. 5,00,000 (Rupees Five Lakh) for both principal and interest amount held by him/her in the same right and same capacity.

The deposits kept with the Bank are aggregated for the purpose of insurance cover and a maximum amount up to Rupees Five lakh is paid. For example, if a Customer had an account with a principal amount of Rs. 4,95,000 plus accrued interest of Rs. 4,000, the total amount insured by the DICGC would be Rs. 4,99,000. If, however, the principal amount in that account was Rs. Five lakh, the accrued interest would not be insured, not because it was interest but because that was the amount over the insurance limit.
Modification: Bank has the absolute discretion to amend or supplement any terms and conditions at any time without prior notice by notifying through posting on the Bank website or through any other means or through the Digital Portal as Bank may deem fit which will constitute sufficient notice and such amendments or supplements will be binding on the Customer. Customer usage of new functionalities or features notified or made available will be treated as acceptance of terms and conditions applicable thereof.
Assignment: The Customer agrees and understands that the services provided by the Bank are neither transferable nor assignable to any party.
Compliance with Laws: The Customer will solely be responsible for ensuring full compliance with all the applicable laws and regulations in any relevant jurisdiction in connection with establishment of their Savings Account with the Bank. The Customer agrees to abide by and be bound by all applicable rules/ regulations/ instruction/ guidelines issued by the RBI, the Common Reporting Standards (CRS), FATCA and any other governmental or regulatory authority, in force from time to time.
Entirety of the Terms: These SA Terms, which includes along with any agreements, annexures, exhibits, or any additional service terms applicable to the SA Services, which are incorporated by reference, constitute the entire terms between the Bank and you regarding the subject matter hereof.
Severability: If any portion of these SA Terms are found to be unenforceable, the remaining portion will continue to remain in full force and effect.
No Waiver: If the Bank fails to enforce any part of these SA Terms, it will not be considered a waiver.

MITC of debit card

Most Important Terms and Conditions of Debit Card

These Most important Terms and Conditions of Debit Card (“MITC”), apply when you ("you" or "Customer" or “Cardholder”) opt to avail Debit Card facility (which may be issued both in virtual and physical form factors) linked to Savings Account provided or made available by slice small finance bank ltd (the "Bank", "we", "us" or "our"). The Debit Card facility may be made available to Customers who availed current account services through physical branch visits and/or savings account services either through any digital platform (including any websites, desktop sites or mobile applications) operated by the Bank ("Digital Portal") or through physical branch visits.

Please make sure that you have read these MITC carefully, before using the Debit Card. By using the Debit Card you agree and acknowledge that you will be bound by these MITC along with terms applicable to Savings Account and/or Current Account, and you accept the onus of ensuring compliance with the relevant Reserve Bank of India (RBI) Regulations, , and as amended/modified/ applicable form time to time and any other corresponding enactment in force from time. You will also continue to remain bound by the terms and conditions of operation of your savings/current account with the Bank.

DEFINITIONS

“Card or Debit Card” refers to the Bank issued physical and/or virtual payment instrument linked to savings/current account which can be used by the Customer to withdraw cash, make domestic online payments, point of sale (PoS) terminal or quick response (QR) code transactions, cash withdrawal through domestic PoS and contactless payments subject to applicable laws.

“Account(s)” refers to the Cardholder's Savings or Current Account that have been designated by the Bank to be eligible account(s) for the valid operation of the Debit Card. The Cardholder should be either the account holder or sole signatory or authorized to act alone, when there is more than one account holder/signatory.

“Primary Account” shall mean, in case of multiple accounts linked to the Debit Card (if any), the account that has been designated as being the main/first account of operation i.e. the account from which purchases Transactions, cash withdrawals, charges and fees related to the card are debited.

“ATM” refers to Automated Teller Machine, whether India or overseas, whether of the Bank, or of any other bank and a shared network, at which amongst other things, the Cardholder can use his Debit Card to access the funds in his Accounts(s) held with the Bank.

“PIN” means the Personal Identification Number (required to access ATMs) allocated to the Cardholder by the Bank, chosen by him from time to time.

“Transaction” means instruction given by a Cardholder by using his Card directly or indirectly, to the Bank to effect action to the Account(s). {Examples of Transactions can be retail purchases, cash withdrawals, cash/ cheque deposits, etc.)

“Merchant or Merchant Establishments” shall mean any person who owns or manages or operates a service establishment (physical or online) wherever located, that accepts a Debit Card issued by the Bank (including but not limited to stores, shops, restaurants, hotels and airline organizations, e-commerce websites, shopping applications etc.)

“EDC or Electronic Data Capture” refers to electronic point of sale swipe terminals, whether in India or overseas, whether of the Bank or any other bank on the network, that permit the debiting of the Account(s) for purchase Transactions from Merchant Establishments.

“Master Card/Visa/RuPay” means card trademark owned by and normally associated with Master Card/Visa/RuPay International which are the card networks with whom Bank has engaged to issue Debit Cards.

CARD VALIDITY AND CARDHOLDER OBLIGATIONS

The usage of the Debit Card shall be in accordance with all applicable laws.
The Debit Card shall be valid for Transaction options, as permitted by the Bank from time to time within India at Bank ATMs, ATMs of other banks, which are members of the Master Card/Visa/RuPay ATM network and Master Card/Visa/RuPay Point-of Sale swipe terminals at Merchant Establishments.
The Customer agrees and acknowledges that once the Customer completes the onboarding for Savings Account through the Digital Portal in accordance with Savings Account terms, a virtual Debit Card is issued to the Customer by the Bank and the same can be accessed on the Digital Portal. In cases where the Customer wants a physical Debit Card, the request for the same has to be raised on the Digital Portal and accordingly the Debit Cards will be dispatched by courier /messenger/ mail or through any other mode by the Bank at its discretion to the address notified by Customer for correspondence.
The Customer hereby agrees and understands that the Debit Cards at the time of issuance/ reissuance is enabled for use only at contact base points of usage within India (ATM and PoS). The PIN may subsequently be generated through the channels made available by the Bank including but not limited to through the Digital Portal, through ATMs etc.
The Customer understands that they can enable/ disable their usage preference and manage transaction limits on the Debit Card anytime by modifying the same on the Digital Portal. The transaction limits for various types of Transactions using the Debit card can be found here.
The Debit Card is and will be at all times the property of the Bank and shall be returned to the Bank immediately upon Bank’s request or upon failing to deliver to Cardholder. The Cardholder is requested to ensure that the identity of the Bank Officers is established before handing over the Card.
The Debit Card is not transferrable or assignable by the Cardholder under any circumstance.
The PIN issued to the Cardholder for use of Debit Card, or any number chosen by the Cardholder as a PIN, should remain only with the Cardholder and the PIN should be only for the personal use of the Cardholder, should be non-transferable and strictly confidential. A written record of the PIN number should not be kept in any form, place or manner that may facilitate its use by a third party. The PIN should not be disclosed to others by any means whether voluntary or otherwise. The Bank shall exercise care while issuing the PINs and shall be under obligation not to disclose the Cardholder’s PIN, except to the Cardholder.
The Cardholders Account will be debited immediately with the amount of any withdrawal, transfer, and other Transactions effected by the use of the Debit Card.
The Cardholder should maintain sufficient funds in the Account to meet any such Transactions.
The Cardholder shall not be entitled to overdraw the Cardholders Accounts or withdraw funds by use of the Debit Card in excess of any agreed overdraft limit.
You agree and acknowledge that the Debit Card is valid up to the last working day of the month indicated on the Debit Card. You hereby undertake to destroy the Debit Card when it expires by cutting it into several pieces. The Debit Card will be renewed by the Bank on expiry. The Bank may, at your request for physical Debit Card, send your renewed Debit Card and attempt delivery of the Debit Card at the address recorded with the Bank in its system. However, if Customer does not want to renew the Debit Card, such Customer shall have the option to decline the renewal by reaching out via Digital Portal or help@slicebank.com. Bank reserves the sole right renewing your Debit Card and debit related charges from your Account as mentioned in the schedule of charges.
The Cardholder will inform the Bank in writing within 15 days from the statement date, of any irregularities or discrepancies that exists in the Transaction details at an ATM/Merchant Establishment on the statement of account sent by the Bank. If no such notice received during this time, Bank will assume the correctness of both the transaction and the Statement of account.
The Customer agrees to keep the Debit Card in safe custody and not hand over the same to anyone including anyone who claims to represent the Bank. Bank shall not be responsible for any misuse of the Debit Card by virtue of the same falling into wrong hands prior to the Debit Card being reported as lost/stolen by the Customer. The Customer will be responsible for all related charges for use of the Debit Card.
Any change in the address or KYC details should be immediately informed to the Bank failing which the Customer shall be responsible for any non-receipt of communication/ deliverables or the same being delivered at the old address. It will be the Customer’s responsibility to ensure that valid e-mail ID, mobile number & address is updated with the Bank at all times, failing which, the Customer may not receive Debit Card related notification(s) from the Bank.
The Customer agrees and understands that all transactions conducted with use of the PIN/ IPIN will be Customer's responsibility and the Customer will abide by the record of the transaction as generated.
If a Cardholder uses the Debit Card to withdraw an amount that exceeds the available balance or the overdraft limit authorized by the Bank, the Cardholder shall immediately repay the Bank the full overdrawn amount, together with any applicable interest and penalties, at the rate determined by the Bank.
Customer agrees and acknowledge that these Debit Card terms may be altered by the Bank, but 30 days’ notice of the change shall be given to the Customer to enable him/her to withdraw if he/she so chooses. After the notice period of 30 days, the Customer would be deemed to have accepted the terms if he/she had not withdrawn during this specified period.
The Customer agrees and acknowledges that if the Debit Card is not used by the Customer for more than one (1) year, the same would be marked as inactive by the Bank and Customer shall have to undergo required due diligence to reactivate such Debit Card in accordance with applicable laws.

USAGE OF DEBIT CARDS

Contactless Payments

Debit Card contactless card allows you to pay with a simple tap. Such contactless payments can be done up to a limit of INR 5000 or such other limits as prescribed by RBI and/or any applicable laws. These transactions are as secured as any chip/PIN based transactions.

Usage of Card for Transactions
1. The Bank will debit the Savings Account associated with the Debit Card for the Transactions undertaken by the Customer. All Transactions will be reflected in the account statement linked to the Debit Card.
2. The Debit Card should not be used for any purpose which may be illegal or unlawful or not permitted under the Regulations and any such usage will be considered as unauthorized and the Customer will be solely responsible. Notwithstanding the responsibility of the Customer, the Bank shall be entitled to reject such a Transaction by the Customer.
3. The Customer agrees that the Bank’s record of the Transaction(s) relating to the Debit Card will be considered as conclusive and binding.
4. The Customer agrees not to attempt to withdraw / purchase using the Debit Card unless sufficient funds are available in their Savings Account. The onus of ensuring adequate balance in their Savings Account is entirely on the Customer.
Merchant Establishment Usage
1. The Debit Card is acceptable at all electronic or physical Merchant Establishments in India.
2. When a Merchant swipes or inserts your Debit Card in a PoS machine, he/ she will first enter the amount. Then the PoS machine will prompt for a PIN, which you will have to enter to complete the transaction, This PIN is the same one that you use at ATMs. If you don't punch in your PIN, the Bank will decline the Transaction. You get three chances to enter the right PIN. If third attempt is also wrong your Card will get blocked. This is similar to the process at ATMS.
3. Always enter Debit Card PIN yourself at the Merchant Establishment. Never share your Debit Card PIN with anyone, including the Merchant. While using your card on PoS machine, if you suspect something unusual, do not use the machine and report it to the Bank immediately. Usage of PIN for Debit Card Transaction has been introduced as a security measure that acts as two-factor authentication.
4. Bank prohibits withdrawal of cash using Debit Card at the PoS, unless specifically permitted by Bank.
5. You must sign the charge slip and retain your copy of the charge slip whenever the Debit Card is used at Merchant Establishments. Bank will not furnish copies of the charge slip. Any charge slip not personally signed by you, but which can be proven as being authorized by you, will be deemed to be your liability.
6. The Bank will not accept responsibility for delivery of goods and services by the Merchant to the Customer. Should the Customer have any complaints concerning any delivery of goods or services, the matter should be resolved by the Customer with the Merchant directly. However, the Customer should notify the Bank of this complaint immediately.
7. In case the Merchant wishes to cancel a completed transaction due to an error or on account of merchandise return, the earlier sales receipt must be cancelled by the Merchant and a copy of the cancelled receipt must be retained in their possession. Reversal of any debits due to such a transaction will be processed and the cancelled sales slip needs to be produced by the Customer, if called for by the Bank.
8. Quality of goods and services: The Bank shall not be in any way responsible for merchandise, warranty or services purchased or availed by Customer from the Merchant including on account of delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods from the order placed by the Customer. It must be distinctly understood that the Debit Card facility is purely a facility to the Customer to undertake Transactions and the Bank holds out no warranty or makes no representation about quality, delivery or otherwise howsoever regarding the goods or services, and any dispute must be resolved by the Customer with the Merchant directly.
9. In case of Debit Cards linked to multiple accounts, transaction at Merchant Establishment will be effected only on the Primary Account. In case there are insufficient funds in the said account, Bank will not honour the Transactions, even if the necessary funds are available cumulatively or severally in the other accounts linked to the Debit Card.
Withdrawal facility at ATM
1. The Debit Card is accepted at the Bank’s ATMs and/or ATM of any other Banks.
2. The Debit Card can be operated by the Customer with the help of a confidential PIN at ATM locations at which the Debit Card is serviceable.
3. Transactions at the Bank ATMs may be subjected to charges as determined by the Bank from time to time. The schedule of charges can be found here.
4. For all cash withdrawals at the Bank ATM, any statement/receipt issued by the ATM at the time of deposit or withdrawal, shall be deemed conclusive, unless verified and intimated otherwise by the Bank. Any such verification shall likewise be final and conclusive, and this verified amount will be binding on the Cardholder.
5. If the Customer has any complaints concerning any ATM establishment of any other bank, the matter should be resolved by the Customer with that bank and failure to do so will not relieve him from any obligations to the Bank. However, the Customer should notify the Bank of this complaint immediately.
6. For all Debit Card variants, the ATM cash withdrawal limits can be found here. There may be a lower limit of withdrawals which may be applicable to different category of Customer Savings Account based on RBI regulations and/or policies of the Bank.

FEES

Transaction fees for cash withdrawals/balance inquiry and/or wherever applicable, will be debited from the related Account at the time posting the cash withdrawal/balance inquiry or wherever applicable.
The charges/fees applicable on the physical Debit Card and/or its usage can be found here and such charges may be revised by the Bank from time to time, with prior information to the Cardholder(s).

LOST, STOLEN, SURRENDER AND CLOSURE OF DEBIT CARD

In case Debit Card is lost/ stolen or damaged; the Customer can hotlist/ block the Debit Card immediately either through the Digital Portal or by reaching out to the Bank at help@slicebank.com by reaching out to the branch. The Bank will block the Debit Card immediately on being informed by the Customer and completion of the formalities, if any.
The loss or theft of the Debit Card should be reported to the Bank immediately.
The Bank will send a confirmation to the Customer immediately on blocking/deactivating /suspending the Debit Card along with reasons thereof through electronic means (SMS/ email) subject to communication preferences of the Customer. The Bank, upon adequate verification, will block the Debit Card and will not be liable for any inconvenience caused to the Customer on this account. The Bank will hotlist / cancel the Debit Card following the receipt of such intimation from the Customer and formalities, if any.
The Bank shall not be liable for any loss by the misuse of the Debit Card for any type of transactions (online/ physical/ contactless) and the Customer will be liable for all charges incurred on the Debit Card prior to the Debit Card being reported as lost/ stolen or hotlisted by the Bank upon instructions of the Customer.
The Customer agrees and understands that once their Debit Card is reported lost, stolen or damaged and is subsequently found, such Debit Card must promptly be cut in half through the magnetic strip and adequate care would be taken to prevent its misuse.
The Customer is responsible for the security of the Debit 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 solely rest with the Customer.
The Customer hereby agrees and acknowledges that once a request for a replacement card is raised by the Customer through channels provided by the Bank, the same shall be issued by the Bank in accordance with applicable terms.
In the event that the Cardholder decides to Close his account with the Bank, the Card(s) issued with this account as the Primary Account, would automatically stand cancelled. The Cardholder(s) must immediately cease to use his Card and destroy and return all his/ additional Cards that are linked to this account. In case of any outstanding Card Transaction that have not yet been debited from the account the same will be netted off from the balance prior to Bank returning funds to him

INSURANCE

You acknowledge that the insurance benefit provided on the Debit Card may be available to you as per the terms of the relevant insurance policy in force, on such card variant as applicable and only so long as you are, and remain an active Cardholder of the Bank, with your account conduct being deemed satisfactory and in event of the Debit Card and/or account facility being terminated for whatever reason, the benefit or such insurance cover shall automatically and ipso facto cease to be available, from the date of cessation of membership.
Bank reserves the right to discontinue the insurance facility so offered at any time. In such on event, the Cardholder shall be informed about the cut-off date. Any decision of the Bank in this case shall be final.
The lost Card Liability/Purchase Protection/Personal Accident (Death Cover only) coverage is provided to Cardholders by Rupay, (or any other General insurance Company as may be identified by the Bank).
Bank does not hold any warranty and/or make representation about quality, delivery of the cover, claims processing or settlement of the claim, under the Rupay programme (or any other General Insurance Company as may be identified by the Bank from time to time) in any manner whatsoever.
You agree and acknowledge that you may be asked to submit additional documents, as per the requirements of the case.
Bank shall not be liable for any delayed settlement of the claims.
As per the terms of the insurance policy, all claims have to be intimated to the insurance company within 30 days of the occurrence of the event in case of insurance claim, purchase protection, and 90 days in case personal accident insurance claim. The insurance cover will be considered as active. At the time of the incidence as per the Rupay terms & condition.
For Rupay Cards Personal Accident Insurance claims have to be intimated not later than 90 days of the date of accident. This is as per discretion of RuPay Insurance Program and also if all terms under the policy are met as on date of accident.
The Cardholder shall bear loss sustained up to the time of notification to the Bank of any loss theft or copying of the Card, but only up to a certain limit as per the Lost Card liability limit mentioned in the Usage, except where the Cardholder acted fraudulently, knowingly or with extreme negligence.
The Customer agrees and acknowledges that the registered nominee in the Current Account / Savings Account will be considered as the default nominee in the Debit Card linked Insurance Cover.
Further queries assistance regarding the policy, exclusions and claim settlements, can be directed to: slice small finance bank ltd., 1st & 3rd Floor, Fortune Central, Basistha Road, Basisthapur Bye Lane No.-3, Beltola, Guwahati - 781 028 or via Digital Portal or through help@slicebank.com or customercare@slicebank.com, or our Helpline at 080 4832 9999 / 1800-121-1905.

TERMINATION OF DEBIT CARD FACILITY

The Bank shall be entitled to discontinue this Debit Card facility at any time by cancelling the Debit Card by giving 30 days’ prior notice.
The Bank may also restrict, terminate or suspend the use of the Debit Card at any time without prior notice if the Bank reasonably believes it necessary for business or security reasons.
In the event that the Cardholder decides to terminate/surrender the Debit Card, the Cardholder must reach out to the Bank at help@slicebank.com or customercare@slicebank.com, or our Helpline at 080 4832 9999 / 1800-121-1905 with at least 7 days' prior written notice. Upon termination, the Cardholder shall promptly return the Debit Card, along with any additional cards (if not needed), by cutting them into several pieces through the magnetic strip and/or returning them to the Bank. The Cardholder will remain liable for all fees and charges associated with the Debit Card, including those incurred after the Cardholder claims to have destroyed the card. This responsibility extends to all charges, whether resulting from misuse or fraudulent activity, and regardless of whether the Bank has been notified of the Debit Card's destruction.
Bank shall be entitled to terminate the Debit Card facility with immediate effect, and the Debit Card shall be returned upon occurrence of any of the following event:
1. Failure to comply with these Terms herein set forth.
2. The Cardholder becoming the subject of any bankruptcy, insolvency proceedings or proceedings of a similar nature.
3. Demise of the Cardholder.
4. Closure of the cardholder's account, or failure to maintain the minimum average balance in the said account.

DISCLAIMER OF LIABILITY

Without prejudice to the foregoing and/ or these terms, the Bank shall be under no liability whatsoever to the Customer in respect to any loss or damage arising, directly or indirectly out of:
1. Any defect in goods or services supplied by the Merchant or otherwise.
2. The refusal of any person to honour or accept the Debit Card.
3. The malfunction of any computer terminal/PoS/EDC etc.
4. Effecting Transaction instruction other than by the Customer.
5. Any statement made by any person requesting the return of the Debit Card or any act performed by any person in conjunction.
6. Handing over of the Debit Card by the Customer to anybody.
7. Any mis-statement, mis-representation, error or omission in any details disclosed by the Customer.
8. The exercise by the Bank of its right to terminate any Debit Card issued to the Customer.
9. Decline of transaction due to any reason at the Merchant location/ ATM location

DISPUTE RESOLUTION

In case of purchase Transaction, a sales slip with the signature of the Cardholder together with the Card number noted thereon, shall be conclusive evidence between Bank and the Cardholder as to the extent of the liability incurred by the Cardholder, and Bank shall not be required to ensure that the Cardholder has received the goods purchased/availed the service to the Cardholder's satisfaction.
Bank shall bonafide and take reasonable efforts to resolve an aggrieved Cardholder's disagreement, with an applicable charge indicated in the statement of account, or as otherwise determined by the customer, within two months of the receipt of notice. If after such efforts Bank determines that the charge is incorrect, it shall communicate the same to the Cardholder.
Bank accepts no responsibility for the refusal of any Establishment to honour the Card.
This agreement will be construed in accordance with and governed by the laws of India. All disputes are subjects to the exclusive jurisdiction of the Court of Guwahati, India, irrespective of whether any other court may have concurrent jurisdiction in the matter.
The Cardholder will be liable for all the costs associated with the collection of dues, legal expenses (should it become necessary to refer the matter to any agent), or where legal resources have been utilized in the resolution of a dispute.

GRIEVANCE REDRESSAL AND COMPENSATION FRAMEWORK

Bank has a clearly defined grievance redressal process for speedy and effective redressal of customer grievance. For registering grievances, kindly escalate the complaint/grievance at help@slicebank.com or customercare@slicebank.com, or our Helpline at 080 4832 9999 / 1800-121-1905.
Any complaint, dispute, or grievance in relation to the Services should be addressed in accordance with the Bank’s Grievance Redressal Policy.
Specific turnaround time is assigned to resolve customer grievances. If a Customer does not get satisfactory response from the Bank within a maximum period of 30 days from the date of lodging the complaint, he/she will have the option to approach the Office of the RBI Ombudsman under Integrated Ombudsman Scheme for redressal of his/her grievance/s.
The liability of the Customers in case of unauthorized transactions will be decided in accordance with Bank’s policy on Customer Protection – Limiting Liability of Customers in Unauthorized Electronic Banking Transactions.
In case of unsuccessful/failed transaction, as per RBI circular on “Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems dated 20 September 2019,
1. In case of card-to-card transfer, if card account is debited but the beneficiary card account is not credited, Bank will reverse blocked amount within T + 1 day if credit is not effected in the beneficiary account and compensation of Rs.100/- per day would be paid to Customer in case of any delay beyond T+ 1 day.
2. In case of Point of Sale (PoS) (Card Present) including cash at PoS and in case of card not present transactions, if the account is debited but confirmation is not received at merchant location i.e., charge-slip not generated, such transaction shall be auto reversed within T+5 days & compensation of Rs.100/- per day would be paid to Customer in case of any delay beyond T+5 days. (*T is the day of transaction and refers to the calendar date).

Secure usage of mobile banking

Do's of mobile banking

Secure your smartphone with a password or biometric lock at all times.
Only install banking applications from official app stores and verify they're legitimate bank apps.
Create a robust PIN code to protect your banking access and sensitive information.
Monitor your bank statements frequently to identify any suspicious or unauthorized activity.
Contact your mobile carrier and police immediately if your device is lost or stolen.
Remove banking applications and delete all stored data before disposing of, selling, or servicing your device.
Check your financial statements regularly for errors and contact your bank promptly about any discrepancies.

Don'ts of mobile banking

Keep your PIN and personal banking details private—legitimate banks never request this information via phone or email.
Avoid clicking links in suspicious messages or social posts that appear to come from financial institutions.
Always confirm recipient details before sending money, as most transfers cannot be undone.
Avoid saving payment card information, passwords, or other sensitive details on your device.
Keep your contact information current with your bank to receive important security notifications.
Protect your credentials by never writing them down or sharing them through any communication method.
Turn off Bluetooth connectivity when conducting banking business in public areas to prevent data interception.
Stay away from questionable websites and refrain from downloading content from untrusted sources.
Keep your device secure and never leave banking applications open when away from your phone.
Use only private, secured internet connections for financial transactions—avoid public Wi-Fi networks.

Interest rate and Limits

slice business terms

slice Business Banking Terms

These terms and conditions, along with any agreements executed or accepted by you in connection with the Business Services, incorporated by reference (collectively, "Business Terms"), apply to you ("you" or "User" or "Merchant"), when you opt to avail "Business Services" of slice Small Finance Bank Limited (the "Bank" or "slice") either through any digital platform operated by the Bank including but not limited to slice Business application or by any authorised third-party ("Digital Portal") or by visiting any of the Bank's physical branches in person.

These Business Terms should be read in conjunction and incorporates the Privacy Policy by reference (including any updates and amendments to such Privacy Policy), when you choose to avail the Business Services from the Bank.

The term "Business Services" collectively refers to and includes banking services provided by the Bank as contemplated under the Business Terms, same have been elaborated specifically in these Business Terms under separate Annexures.

Please read the Business Terms carefully before availing the Business Services. By availing the Business Services, you acknowledge that you have read and understood the Business Terms and agree to be bound by the same, without any limitation or qualification. If you do not agree with these terms, please do not avail the Business Services.

The headings contained in the Business Terms are for reference purposes only. The Business Terms shall be in addition to and not in derogation to any other terms as stipulated by the Bank, from time to time.

Definitions

"User" or "you" or "Merchant" refers to an individual or business entity including but not limited to sole proprietorship, companies, partnership firms, limited liability partnerships etc.,(represented by an authorized representative) that sells goods or services to end customers and accepts payments in exchange for those goods or services inclusive of a marketplace.

"KYC Framework" means and includes Master Direction Know your User (KYC) Directions, 2016 issued by the Reserve Bank of India ("RBI"), read with the Prevention of Money Laundering Act, 2002.

"KYC Policy" means and includes the Board approved Know your customer Policy of the Bank.

"Intellectual Property Rights" means all intellectual property rights or similar proprietary rights, including: (i) patent rights and utility models, (ii) copyrights and database rights including moral rights, (iii) trademarks, trade names, domain names and trade dress and the associated goodwill, (iv) trade secrets, and (v) industrial design rights; and for each of the foregoing includes any registrations of, applications to register, and renewals and extensions of, any of the foregoing in any jurisdiction in the world.

"MPIN" shall mean the mobile banking PIN and/or password or other similar form factors generated at the time of registration of the Merchant on the Digital Portal.

"Politically Exposed Person" or "PEP" refers to individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.

"QR Code" refers to a quick response code which is a two-dimensional barcode that encodes payment information or transaction details and is issued to the User by the Bank for accepting payments from Users.

"QR ID" refers to a unique seven (7) digit code related to a QR code that is issued to the User by the Bank.

"Chargeback" refers to the reversal of a payment transaction initiated by the customer's bank in response to a dispute or claim that the transaction was unauthorized, fraudulent, or not in accordance with the terms agreed upon.

"Governmental Authority" shall mean any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government of India, including any government authority (including, without limitation, NPCI), agency, department, board, commission or instrumentality of India, any court, tribunal or arbitrator; and any self-regulatory organisation;

Access to your Account

You will be required to register an account on the Digital Portal to effectively use and access the Digital Portal and its complete features and to avail the Business Services (your "Account"). For registration on the Digital Portal, you need to provide basic details including but not limited to: -

Mobile number that belongs to you.
Email address that belongs to you
Name
Set up M-PIN as a login credential.

Through your Account on the Digital Portal, you shall have the option to avail all Business Services provided by the Bank using the same login credentials. The Bank shall endeavor to provide to the Merchants through Digital Portal, such Business Services as the Bank may decide from time to time. The Bank may also make additions /deletions to the Business Services offered through the Digital Portal at its sole discretion.

Bank reserves the right to choose the devices, software platforms, versions, networks, methods, and data services that will be supported. You agree and acknowledge that any attempts to work around these published requirements or to modify unsupported versions to use Digital Portal will be treated an unauthorized use and violation of the Business Terms.

You agree that you shall use only your mobile phone to access the Digital Portal of the Bank. The access is restricted to you on the specific mobile number as registered with the Bank on the Digital Portal. Further, you hereby mandatorily agree to register for SMS alerts and/or email alerts for the for the electronic banking transactions, through the details as provided above.

The Merchant acknowledges that the acceptance of any application and permitting the access and use of the Digital Portal shall be the sole prerogative of the Bank and nothing contained in the Business Terms and should be construed as obliging the Bank to permit the use of the Digital Portal to any person.

The Bank hereby agrees to provide the Business Services, as detailed in the Annexures below, in accordance with the Business Terms outlined hereinunder:

Merchant Onboarding
Digital Current account
Digital Loan facility to Merchants
Any additional services as prescribed by the Bank from time to time.

By accepting these Business Terms, you agree to be bound by all the provisions outlined herein and undertake to adhere to all the specified requirements laid under these Business Terms.

Representations, warranties, and undertakings by you

You confirm that you hold all relevant and appropriate licenses, permits, and approvals required to operate your business in compliance with Applicable Law.
You are not a 'Politically Exposed Person' resident outside India in terms of the KYC Framework.
You are not restricted by any legal, regulatory, judicial, quasi-judicial or other authority, to avail the Services, including to enter into transactions contemplated using the Services. You agree to use the Services only for purposes that are permitted by these Terms and in accordance with applicable laws.
You agree to abide by the Bank's terms and rules in force and the changes thereto in terms from time to time relating to your account as communicated and made available on the Digital Portal.
You agree that the opening and maintenance of the account is subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India.
You agree that the Bank may, at its discretion, engage the services of third-party service providers, Business Correspondents (hereinafter referred to as "BC") etc., for extension of banking and financial services so as to ensure greater financial inclusion and increasing the outreach of the banking sector.
You agree that the Bank before opening any account or providing any Services may carry out a due diligence, as required under the KYC Framework and the internal policies of the Bank. You would be required to submit necessary documents or proofs, such as identity, address, photograph and any such information to meet with KYC, AML or other statutory/regulatory requirements.
You agree that the availing of Services is subject to verification, and the Bank reserves the right to reject the request of the Applicant to open an account or avail any Services without providing any reason. In the event where the documents submitted by the Applicants or Users for opening an account and/ or availing the Bank's Services or for processing the transactions thereon are incomplete or discrepant, Bank shall notify such discrepancies and/or certain additional verification/ documentation requirements within a reasonable time. In case highlighted discrepancies remain unresolved or upon non-receipt of required documents within the stipulated time period, if any, the Bank, shall have the right to reject the application of the Applicant and in accordance with its policies and procedures, the Bank shall retain the application forms and documents provided therewith at the time of account opening, including photographs and will not return the same to the Applicant in case of rejection of the said application. In such an event the Bank shall not be liable to pay any interest or penalty and shall refund the money received, if any, to the source account.
Further, after the account is opened, in compliance with the extant regulatory guidelines, you agree to submit the above documents again at periodic intervals, as may be required by the Bank.
You agree that, under normal circumstances, the Bank has the liberty to close your account at any time by giving at least 30 days' notice. You further agree that the Bank can at its sole discretion, amend any of the Services in accordance with applicable laws, either wholly or partially at any time by giving you at least 30 days' notice and/or provide an option to you to switch to other Services.
You agree that any change in your account status or change of address will be immediately informed to the Bank failing which you shall be responsible for any non-receipt of communication/deliverables or the same being delivered at your old address.
You agree that all instructions relating to your account will be issued to the Bank as per acceptable mode of communication to the Bank.
You agree and acknowledge that in the absence of your specific instructions to personally collect from the branch, the cheque books, net banking PINs, Debit/ATM Cards & PINs will be dispatched by courier/messenger/mail/Digital Portal or through any other mode by the Bank at its discretion for correspondence.
You agree that the Bank shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non-availability of any of the Services due to technical fault/error or any failure in telecommunication network or any error in any software or hardware systems beyond the control of the Bank.
You understand and agree that due to increasing frauds and malpractices in electronic transactions, Bank shall at all times reserve the right to take any action it deems fit in order to mitigate such frauds and malpractices. These actions include but are not limited to declining or restricting transactions, marking account on freeze and/or restricting transactions, restricting access to the account without advance notice to you.
You agree and acknowledge that if the mobile phone or SIM is lost, you shall immediately take action to de-register by reaching out to the Bank at +91-8048329999 or help@slicebank.com You agree and acknowledge that any valid transaction originating from your account registered in Digital Portal via your mobile phone number shall be assumed to have been initiated by you and any transaction authorized by you on the Digital Portal is duly and legally authorized by you.

Your Information

By using the Services, you authorize the Bank, whether directly or indirectly through third parties, to collect information about you or make any inquiries necessary to validate your identity, in accordance with our Privacy Policy and the KYC Framework. Please read the Privacy Policy to understand how we collect, process and share your information with third parties, in accordance with applicable law (collectively, "Information").

Further, we may ask you for Information or documents that will allow us to reasonably identify you, requiring you to take steps to confirm your right over your email address or financial instruments, or verifying your information against third party databases or through other sources. We reserve the right to terminate, suspend, or limit access to the Services in the event we are unable to obtain or verify this information.

When you provide any Information to the Bank, you agree to provide only true, accurate, current, updated and complete Information. You understand and acknowledge that the responsibility to provide correct Information, including the contact information, transaction amount, bank account details etc., as required in connection with the Services, lies solely with you. You must take all caution to ensure that there are no mistakes and errors in the Information you give.

You agree and consent to the Bank to disclose information provided in the account opening form for the purpose of cross selling by any other marketing agents and/or third-party agents, contractors or BCs with whom the Bank enters, or has entered into any arrangement, in connection with providing Services, including without limitation, cross selling of various financial products.

If you would not like to receive any promotional messages or communications, please contact us at help@slicebank.com

You agree to keep your account information up to date and accurate, at all times until you are availing the Services. You will be liable to inform the Bank of any change in the Information provided by you or otherwise available in relation to you.

By availing the Services, you agree to provide your consent and full cooperation to enable Bank to validate your identity and to collect, process and share Information about you in accordance with the Privacy Policy in order to provide you the Services effectively.

If you do not provide any Information and documents requested by the Bank, you shall not be allowed to avail the Services.

Bank reserves the right to close, suspend, or limit access to your account or the Services in the event we are unable to obtain or verify any Information. Bank may, upon receiving your consent, request certain third parties to provide Information about you to provide certain Services.

Fees

You agree that you shall be liable to pay all charges, fees, interest, and costs wherever applicable, which the Bank may levy with respect to your account or any transaction or Services and the same may be recovered by the Bank by a debit to your account. You agree and acknowledge that in case of non-availability of adequate funds the charges will be debited from the account over a period of time till the entire amount is recovered.

Communication and notification

You agree that Bank (either directly or indirectly through third parties or BCs) may communicate with you in connection with the Services, either through Digital Portal, phone calls, WhatsApp messenger application, email, or in writing through other modes.

Any electronic communications will be considered to be received by you within 24 hours of the time we send it to your attention (such as via email, SMS or other online notification, through WhatsApp messenger application). We will assume you have received any communications sent to you by postal mail, three (3) business days after we send it.

If we need to contact you in connection with the Services, you give express consent to us and our permitted BCs and/or third-party agents to communicate with you in any way, such as calling, texting, or e-mailing or contacting via any other medium via:

a mobile phone or landline number you provide to us, use to contact us
any email address you provide to us or associated with your account with the Bank;
automated dialer systems and automatic telephone dialing systems;
pre-recorded or artificial voice messages and other forms of communications.

Bank reserves the right to record telephonic conversations with you for quality control purposes.

The accuracy, readability, clarity and promptness of the communications depend on various factors. Bank will not be responsible for any non-delivery, delayed delivery or distortion of the communication in any way whatsoever.

Access to Your Account

You are responsible for maintaining the accuracy of the Information in your account. You are responsible for maintaining the secrecy and security of the login credentials to your account, controlling the activities that occur in or through your account and for restricting access to your system or device to prevent unauthorized access to your account.

You agree to accept responsibility for all activities that occur in or from your account. You agree to establish reasonable security procedures and controls to limit access to the password or other identifying information of your account to unauthorized individuals, which includes choosing passwords and other credentials in a manner that will protect the security of your Information. Your credentials include your username and password to your account and to any third-party account you have used to login to your account.

You agree and acknowledge that entering the wrong MPIN five (5) times will block the Digital Portal and you can reach out to the Bank at +91-8048329999 or help@slicebank.com to unblock the same.

Bank will use commercially reasonable efforts to make the Services available 24 hours a day, 7 days a week, except for (i) planned downtime, or (ii) any unavailability caused by circumstances beyond the Bank's reasonable control.

While we will try our best to offer you uninterrupted access to the Services, Bank assumes no liability whatsoever for any monetary or other damage or loss suffered by you on account of the delay, failure, interruption in the Services.

The customer support in relation to the Services will be provided 24X7 on 7 days a week, except on public holidays.

Access to the Digital Portal or the Services may be unavailable, delayed, limited or slowed, from time to time, due to the inherent nature of the internet and among other things also due to:

servers, networks, hardware failure (including your own computer or mobile), telecommunication lines and connections, and other electronic and mechanical equipment;
software failure, including among other things, bugs, errors, viruses, configuration problems, incompatibility of systems, utilities or applications, the operation of firewalls or screening programs, unreadable codes, or irregularities within particular documents or other content;
overload of system capacities;
damage caused by severe weather, earthquakes, wars, insurrection, riots, civil commotion, act of God, accident, fire, water damage, explosion, mechanical breakdown or natural disasters;
interruption (whether partial or total) of power supplies or other utility service, strike or other stoppage (whether partial or total) of labour;
governmental or regulatory restrictions, exchange rulings, court or tribunal orders or other human intervention; or
any other cause (whether similar or dissimilar to the above) beyond reasonable control of Bank.

Conduct on the Portal

By using the Digital Portal or Services, you agree to comply with the following conditions at all times:

You agree to make use of the Digital Portal for lawful purposes without infringing the rights or restricting the use of the Digital Portal by any third party.
You will not use the Digital Portal for any unlawful or immoral purpose or engage in any in any unlawful acts or activities that are in violation of or, are contrary to any applicable law or the Terms.
You will not solicit others to perform or participate in any unlawful acts.
You will not provide false, inaccurate, deceptive or misleading information.
You will not provide information belonging to any person other than yourself, unless required expressly under the Business Terms or for provision of Business Services.
You will not attempt to collect or track the personal information of others.
You will not use or attempt to access an account that belongs to another person for yourself or on behalf of another person.
You agree not to create multiple accounts, or fraud or fake accounts, with false information or false identity.
You will not use any device, software, routine, file or other tool or technology, which includes any viruses, trojan horses, worms, time bombs or cancelbots, intended to damage, interfere with or affect functionality or operation of the Digital Portal or the Services, to surreptitiously intercept or expropriate any system, data or information in connection with the Services or as hosted / available on the Digital Portal, or to affect the operation of any other websites or the internet;
You will not breach these Business Terms or any other terms or policy that you have agreed.
You will not commit unauthorized use of the Digital Portal and its systems, including but not limited to unauthorized entry into Bank's systems, misuse of passwords, misuse of any information posted to a site, or interfere with or circumvent the security features of the Digital Portal or any related website, other websites, or the internet.
You will not take any action that imposes an unreasonable or disproportionately large load on the infrastructure associated with the Digital Portal or the Business Services, including but not limited to denial of service attacks, "spam" or any other such unsolicited overload technique; or
You will not or attempt to modify, adapt, translate or reverse engineer any part of the Digital Portal or re-format or frame any portion of the pages of the Digital Portal.
On the Digital Portal, you will not upload, display, share, host, publish or transmit any information that:
- belongs to another person and to which you do not have a right to such information;
- is harmful, offensive, harassing, obscene, pornographic, invasive of another's privacy, hateful, racially or ethnically objectionable, disparaging, relating to or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever, or promoting enmity between different groups on the grounds of religion or caste with the intent to incite violence;
- infringes any patent, trademark, copyright or any other proprietary rights;
- harms minors in any way;
- any commercial material or content (including solicitation of funds, advertising, or marketing of any good or services);
- information that deceives or misleads the addressee about the origin of such messages, or communicates any misinformation or information which is patently false and untrue or misleading in nature;
- impersonates another person;
- information that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource;
- threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation; or
- violates any law for the time being in force in India.
You acknowledge and agree that Bank is entitled to remove any information on the Digital Portal that is in contravention of these Business Terms, or applicable law.

Limiting Liability of Users in Unauthorised Electronic Banking Transactions

1. Electronic banking transactions are divided into two categories:

a. Remote/ online payment transactions (transactions that do not require physical payment instruments to be presented at the point of transactions e.g. internet banking, mobile banking, card not present (CNP) transactions), Pre-paid Payment Instruments (PPI), and

b. Face-to-face/ proximity payment transactions (transactions which require the physical payment instrument such as a card or mobile phone to be present at the point of transaction e.g. ATM, POS, etc.)

2. Users must ensure the following:

Users are required to register for SMS alerts and, where possible, email alerts for all your electronic banking transactions. SMS alerts will be sent to all Merchant, while email alerts will be issued only to those who have registered.
You must promptly notify the Bank of any unauthorised electronic banking transaction at the earliest after the occurrence of such transaction.
You are further informed that any delay in notifying the Bank of any unauthorized electronic banking transactions increases the risk of loss both to you and the Bank.
User must submit necessary documentation to the bank as per defined timelines else the case stands closed under customer liability as per Bank policy placed by the Bank.
Mandatorily notify the Bank about any change of mobile number, email ID & communication address
Block/hotlist card or account if they suspect any malicious activities or in an event of lost /theft
Users at any point should not disclose or share account details, credit card number, PIN, CVV with anyone over mail, calls or any other mode of communication
Confidentiality of password for internet banking & mobile banking should be ensured at all times.

3. Channels to report unauthorised transactions by Users.

The Bank has endeavored to provide all its users a 24x7 facility to lodge complaints relating to unauthorized transactions availing any Business Services provided by the Bank through the following:

Digital Portal of the Bank under the Support section.
Bank helpline number at +91-8048329999
Email the grievance to help@slicebank.com

4. Liability of the User

a. Zero Liability of a User

If an unauthorised transaction takes place due to our negligence or deficiency, User shall have zero liability. (irrespective of whether or not the transaction is reported by the customer)
If an unauthorised transaction takes place due to third-party breaches where the deficiency lies neither with the Bank nor with the User but lies elsewhere in the system and the User notifies the Bank within three working days regarding the unauthorised transaction, User shall have zero liability.

b. Limited Liability of a User

In cases where the loss is due to your negligence, such as where you might have shared the payment credentials, you will bear the entire loss until you report such unauthorised transaction to us. You will not be made liable for any loss on any unauthorised transaction after you have reported the unauthorised transaction to us.
In cases where the unauthorised banking transaction lies neither with the Bank nor with the User, but lies elsewhere in the system and if the User fails to notify/report to the Bank within (four to seven working days) of receiving the Bank's communication regarding the transaction, the User's liability will be limited to either the transaction value or the amount specified in Table 1, whichever is lower.
If you fail to report an unauthorized transaction beyond seven working days, liability will be assessed according to the Bank's board-approved policy and the User shall bear full liability of such unauthorized transaction.

Summary of User's Liability

Third party breaches, where the deficiency lies neither with the Bank nor with the User but lies elsewhere in the system

Time taken to report the fraudulent transaction from the date of receiving the communication

User's liability (₹)

Within 3 working days

Zero liability

Within 4 to 7 working days

Type of Account	Maximum (₹)
BSBD Accounts	5,000
All other SB accounts	10,000
Pre-paid Payment Instruments and Gift Cards	10,000
Current/ Cash Credit/ Overdraft Accounts of MSMEs	10,000
Current Accounts/ Cash Credit/ Overdraft Accounts of Individuals with annual average balance (during 365 days preceding the incidence of fraud)/ limit up to Rs.25 lakh	10,000
Credit cards with limit up to Rs.5 lakh	10,000
All other Current/ Cash Credit/ Overdraft Accounts	25,000
Credit cards with limit above Rs.5 lakh	25,000

Beyond 7 working days

As per Bank's Board approved policy

Proprietary rights

Digital Portal

As between Bank and User, all rights, title and interest in the Digital Portal and any other materials furnished or made available on the Digital Portal, and all modifications and enhancements thereof belong to are the sole property of the Bank.

Feedback

Users do and will irrevocably assign to Bank all evaluations, ideas, feedback and suggestions made by User to Bank regarding the Digital Portal (collectively, "Feedback") and all Intellectual Property Rights in the Feedback, on a worldwide, unconditional, royalty-free, irrevocable and perpetual basis. Where the foregoing assignment is prohibited by law, User grants Bank an exclusive, transferable, worldwide, royalty-free, fully paid-up license (including the right to sublicense) to use and exploit all Feedback, as Bank may determine in its sole discretion. User waives and agrees never to assert any rights that by applicable law cannot be assigned/transferred including personal rights or moral rights relating to any Feedback, against Bank.

User Information

As between Bank and User, all right, title and interest in: (i) the Information, (ii) other information input into the Digital Portal by User or its authorized users ("Other Information"), and (iii) all Intellectual Property Rights in each of the foregoing, belong to and are retained solely by the User.

Information and Other Information are collectively referred to as "User Information". User grants to Bank a limited, non-exclusive, royalty-free, worldwide license to use the User Information and perform all acts with respect to the User Information, as may be necessary for Bank to operate, maintain and improve the Digital Portal or provide the Services to User, and a non-exclusive, perpetual, irrevocable, worldwide, royalty-free, fully paid-up license to use, reproduce, modify and distribute the Other Information as a part of the Aggregated Statistics (defined below). User is solely responsible for the accuracy, quality, veracity, integrity, legality, reliability, and appropriateness of all User Information. To the extent that receipt of the User Information requires Bank to utilize any account information from a third-party service provider, User will be responsible for obtaining and providing relevant account information. Bank agrees to access and use the User Information solely for User's benefit and as set forth in these Terms or the Privacy Policy.

Aggregated statistics

Notwithstanding anything else contained in these Terms, Bank may monitor User's (including the authorized users) use of the Digital Portal and the Services and use data and information related to such use and User Information in an aggregate and anonymous manner, including to compile statistical and performance information related to the provision and operation of the Digital Portal and the Services ("Aggregated Statistics"). As between Bank and User, all right, title and interest in the Aggregated Statistics and all Intellectual Property Rights therein, belong to and are retained solely by Bank. User acknowledges that Bank will be compiling Aggregated Statistics based on User Information and Information input by other customers into the Portal. User agrees that Bank may use such information to the extent and in the manner required by applicable law and for purposes of data gathering, analysis, service enhancement and marketing, provided that such data and information does not identify User.

Links to other websites

Links to websites or interface other than Bank's own website or application are provided solely as information on topics that may be useful to you in relation to the Business Services, and Bank has no control over the content on such third-party websites.

Bank makes no warranties concerning the content of such websites, including the accuracy, completeness, reliability of said websites, nor does Bank warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination.

If you choose to follow a link to a website not controlled by Bank, you must do so at your own risk. Once you are redirected to a third-party website or application interface, the terms of use of service and privacy policies of such websites will apply to you. Please read them carefully before accessing or interacting with such websites, in any way. Bank does not guarantee the authenticity of documents on the internet or on such third-party websites.

Links to such websites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such websites.

Indemnity

You, at your expense, will defend, indemnify and hold harmless, Bank, its affiliates, licensees and its officers, directors, agents and employees from and against all claims, demands, damages, losses, costs and expenses, including attorneys' fees and costs, arising from or relating to: (i) your use or misuse of the Digital Portal or Business Services; (ii) any claims from any third-party as a result of or in connection with your use of the Digital Portal or Business Services; (iii) any violation by you of the Terms; (iv) improper or fraudulent Information provided by you or misuse of the Information; (v) incorrect information that belongs to an unrelated third party provided by you; or (vi) any breach of the representations, warranties, and covenants made by you.

Bank reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Bank, including rights to settle, and you agree to cooperate with Bank for such defense and settlement. The Bank will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. User may, at its own expense, engage separate counsel to advise User regarding a claim and to participate in the defense of the claim, subject to the Bank's right to control the defense and settlement.

You agree that Bank, its directors, officers, employees, agents and representatives will in no way be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including damages for loss of profits, goodwill, use, data or other intangible losses, or any loss of revenue or profits arising under, relating to or resulting from:

your availing the Digital Portal or Business Services;
your violation of the Business Terms (including the Privacy Policy);
your violation of any third-party rights, including Intellectual Property Rights of any third-party;
use or inability to use the Digital Portal or Business Services;
any claims from any third parties resulting from or in connection with your use of the Digital Portal or Business Services;

Bank will not be liable to you for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including as a result of loss of data, interruption or stoppage to your use of the Digital Portal or Business Services, hacking or unauthorized access to your account on Digital Portal and Business Services.

No advice or information, whether oral or written, obtained by you from Bank or through or from the use of Business Services or Digital Portal will create any warranty and Bank will have no liability in this respect.

Bank's sole obligation and your sole and exclusive remedy in the event of interruption in usage of Digital Portal or Business Services or loss of use or access to Digital Portal or Business Services, will be to use all reasonable endeavors to restore the usage of Digital Portal or Business Services.

Miscellaneous

Grievance Redressal

Any complaint, dispute, or grievance in relation to the Digital Portal or Business Services should be addressed to the Bank, in accordance with the Bank's Grievance Redressal Policy. Such complaint, dispute or grievance will be handled as per the Bank's Grievance Redressal Policy.

Governing law and disputes resolution

These Business Terms will be governed by and construed in accordance with Indian laws. If a dispute arises between you and Bank, our goal is to provide you with a neutral and cost-effective means of resolving the dispute quickly. In the event of a dispute, we encourage you to first contact the Bank at +91-8048329999 or help@slicebank.com to try resolving your problem directly with us. If the parties are unable to resolve any dispute amicably within 30 days of the notice of such dispute, the dispute will be subject to the exclusive jurisdiction of the courts in Guwahati, Assam, India.

Changes to these Terms

The Bank may change these Business Terms from time to time. It is your responsibility to review the Business Terms from time to time to see if it has been changed. The updated version of these Business Terms will supersede the current version and such updated version will be immediately effective upon being posted on the Bank's Digital Portal. The continued use of the Digital Portal or Business Services following the notification of modification of the Terms or after being updated on the Bank's Digital Portal will be construed to mean the acceptance of the said modified Business Terms.

Transferability

These Business Terms, or any right or interest herein, will not be assignable or transferable by you.

Entirety of the Terms

These Business Terms makes up the entire terms between the Bank and you regarding the subject matter hereof and supersede any prior terms.

Severability

If any portion of these Business Terms are found to be unenforceable, the remaining portion will remain in full force and effect.

No waiver

If Bank fails to enforce any part of these Business Terms, it will not be considered a waiver.

Annexure I – Merchant Onboarding

Eligibility Criteria for Merchants

Merchants must be legally registered business entities or individuals engaged in lawful commercial activities, in full compliance with applicable laws and regulations.
Merchants must possess valid business licenses, registrations, and proof of establishment, in accordance with current legal requirements.
Merchants are required to provide valid proof of identity and proof of address, in compliance with AML/KYC regulations and the Bank's KYC policy.
Merchants must demonstrate a satisfactory credit history and financial standing.
Additional criteria, as determined by the Bank at its sole discretion, may apply.
The Merchant shall not engage in any illegal activities or activities prohibited under Indian law.

Required Documents

To complete the onboarding process, Merchants must submit all necessary documents in accordance with the Bank's board-approved KYC/AML policy ensuring compliance with all applicable laws.
The Bank will evaluate the Merchant's ability to fulfill contractual obligations by reviewing loan repayment history, creditworthiness, financial solvency, tax compliance, bank account statements, and other relevant financial information. These documents will be verified at the Bank's sole discretion during the application process, in accordance with applicable laws.

Merchant onboarding:

The Merchant shall submit the application through the Digital Portal, providing detailed information about the business requirement of loan its type, location, intended activities, and for confirmation, along with any additional information requested by the Bank at its sole discretion for validation and assessment.
The Merchant agrees to provide accurate, true, and complete information in the application form and any supplementary documents.

Mandatory Requirements

Merchants must complete the KYC process as outlined in the Bank's board approved KYC/AML policy.
Merchants shall open a new Digital Current Account with the Bank which shall be mandatory for settlement purposes.
Merchants are required to provide all necessary documentation to verify the existence of their business, which will be validated by the bank.
The Merchant shall provide accurate, timely, and complete reports of business operations, including financial data, transaction records, and any other reports requested by the Bank.

Annexure II - Terms and Conditions for Digital Current Account

These terms and conditions, along with any agreements, annexures, exhibits, or any additional service terms applicable to the Digital Current Account services opened through Digital Portal (as defined below) ("Digital CA Terms"), apply when you ("you" or "User") opt to avail Digital Current Account services ("Digital CA Services") provided or made available by slice Small Finance Bank Limited (the "Bank", "we", "us" or "our") Digital CA Services either through any digital platform operated by the Bank including but not limited to slice business application or by any authorized third-party ("Digital Portal").

In addition to the Business Terms, Digital CA Terms along with any other agreements or documents executed / accepted by you, apply to you for availing the Digital CA Services.

By registering for using Digital CA Services, you signify that you have read, understood and agree to your agreement to be bound by these Digital CA Terms without any limitation. If you do not agree with these Digital CA Terms, please do not register or avail Digital CA Services.

The headings contained in these Digital CA Terms are for reference purposes only.

These Digital CA Terms incorporate the Privacy Policy of the Bank (including any updates and amendments), available here by reference.

Definitions

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

"Applicant" refers to an individual or sole proprietor who submits a formal request to the Bank for the opening of the Digital Current Account, subject to the eligibility criteria provided in these Digital CA Terms and Banks' policies and procedures, on the Digital Portal.

"Debit Card" is a physical and/or virtual payment instrument linked to a Digital Current Account which can be used by the User to withdraw cash, make domestic online payments, point of sale (PoS) terminal or quick response (QR) code transactions, cash withdrawal through domestic PoS and contactless payments subject to applicable laws.

"Digital Current Account" means a form of non-interest bearing demand deposit where from withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and shall also be deemed to include other deposit accounts which are neither savings deposit nor term deposit.

"User" or "Merchant" means any individual or sole proprietorship concern, who is/are permitted by RBI to open/maintain Digital Current Account with Bank.

"IMPS Facility" means the Immediate Payment service Funds Transfer Facility through NPCI system.

"IMPS Regulations" means the circulars, guidelines, or regulations issued by the NPCI and any practices and/or policies followed by the Bank from time to time.

"KYC Framework" means and includes Master Direction - Know your User (KYC) Directions, 2016 issued by the Reserve Bank of India ("RBI"), read with the Prevention of Money Laundering Act, 2002.

"KYC Policy" means the board approved know your customer policy of the Bank.

"NPCI" means National Payment Corporation of India.

"Regulations" means circulars, guidelines, or regulations and/or guidelines issued by the RBI, NPCI or any other regulators for the subject matter contained under these terms.

"RBI" means the Reserve Bank of India.

Eligibility criteria to avail the Digital CA Services:

Only self-employed individuals and sole proprietorships or such other persons as per the discretion of the Bank are eligible to avail Digital CA Services.
Applicant should be an Indian citizen and resident of India.
Applicant should be 18 years and above.
Applicant should be physically present in India at time of digital application and/or video-KYC.
Applicant should not have a tax obligation to any country other than India (FATCA reportable).
Applicant should not be a PEP under the KYC Framework.
Applicant's mobile number should be linked with Aadhaar number of the Applicant (only applicable in case of accounts opened using OTP based Aadhaar e-KYC authentication)
Each eligible Applicant can only open one Digital Current Account.
GST registration and Udyam registration of the individual or sole proprietor is mandatory

Applicant must provide a declaration that their exposure in the total banking system is not greater than ₹5 crore as per applicable law

The Bank may, in its sole discretion, impose any other qualification or eligibility criteria.

FATCA-CRS Declaration

You agree to abide by and be bound by all applicable regulations, instructions or guidelines issued by the RBI, the Common Reporting Standards ("CRS"), Foreign Account Tax Compliance Act of United States of America ("FATCA") and any other governmental or regulatory authority.
You understand that the Bank is relying on your Information for determining your compliance status with FATCA and CRS (Common Reporting Standards).
You agree to inform the Bank within 30 days if there is any change in such Information.
You agree that the Bank may also be required to report the relevant details to a governmental or regulatory authority in India, including Central Board of Direct Taxes, or close or suspend your Digital Current Account, if instructed or required by applicable law to do so.

Digital CA Services

In relation to Digital CA Services, the Bank will provide the following functionalities and services to you on the Digital Portal.

Open Digital Current Account, on receipt of a request/application from the Applicant through Digital Portal.
No interest shall be paid on deposits held in Digital Current Accounts.
The amount lying in the Digital Current Account is withdrawable on demand anytime either through the Digital Portal or through branch visits subject to applicable laws and Bank's internal policies.
No monthly minimum balance requirement on the Digital Current Account.
Once KYC is verified and onboarding in complete, Users get immediate access to current account and can start transacting right away.
Any additional products associated with the Digital Current Account will be communicated to the User promptly and shall remain entirely optional for the User.
Provide customer support to you in relation to the Digital CA Services, including providing the facility to raise grievances, complaints or provide feedback, in relation to Digital CA Services; and
Provide any ancillary or support services to enable you to avail Digital CA Services.

During your registration, for the purpose of creating and enabling the use of Digital CA Services by you, Bank may collect, process and share Information about you with third parties in accordance with its KYC policy and Privacy Policy, for undertaking customer identification procedures and customer due diligence and verification, in accordance with KYC Framework ("KYC Process").

Digital Current Account will be opened in a single holding capacity (cannot be a joint account).

User Consents and Representations

The User consents to and provides the following representations and warranties:

The User agrees to voluntarily share their personal data, including Aadhaar details and PAN card number, for opening their Digital Current Account and to avail allied services from Bank.
There is no insolvency proceedings initiated against the User, nor the User has been adjudicated insolvent.
The User represents and warrants that its aggregate exposure under the banking system does not exceed ₹5 crore and shall provide a self-declaration to this effect during the onboarding process. In the event that the User's exposure reaches or exceeds ₹5 crore, the User agrees to promptly notify the Bank in accordance with applicable regulatory guidelines, including those set forth in the Consolidated Circular on Opening of Digital Current Accounts and Cash Credit/Overdraft Accounts by Banks April 19, 2022.
The information provided through the Digital Portal during the Digital Current Account opening process are accurate and complete and will be considered final and legally binding. The User agrees that Bank has every right to reject the Digital Current Account opening application, if there is any erroneous, incomplete or misleading information provided by the User or for incomplete or erroneous KYC or Anti Money Laundering ("AML")/ Counter Finance Terrorism ("CFT") checks failure or in accordance with Bank's internal policies or for any other reason whatsoever and without assigning any reason. The Bank reserves the right to take necessary action, legal or otherwise, if the Bank finds any wilful modification/ withholding of information or misrepresentation by the User. The failure to provide requisite documentation and information will result in rejection of application by the Bank.
The User will be required to submit at the Bank's request, such further documents, information, matters and things as the Bank may consider necessary for opening the Digital Current Account.
The User has assessed the suitability of the Digital Current Account based on their risk tolerance, financial capability, and investment objectives. If any transactions are flagged as suspicious or undesirable, the Bank maintains the right to initiate suitable measures.
The User herewith agrees that if the application is rejected, the Bank may retain the documents and any document submitted by the User on the application or otherwise.
The User confirms that the Digital Current Account is being opened for their own use and that the mobile number, SIM and device used for opening the Digital Current Account belongs to the User.
The User will not share the credentials pertaining to the Digital Current Account opening with any other person.
The User opening a Digital Current Account under these Digital CA Terms declares that if there is a change in the tax residency (i.e. FATCA reportable) they will intimate the Bank within 30 days of such change.
The User agrees that the Bank may debit their Digital Current Account with service charges as per the schedule of charges as may be applicable from time to time provided on the website of the Bank. Goods and Service Tax (GST) as applicable will be levied on all fees and charges levied by the Bank and/ or in connection with banking services.
In case of adding funds to the Digital Current Account, credit to the Digital Current Accounts will be done post opening of Digital Current Account as per the onboarding process and KYC Process and is subject to realisation of the funds received from the User.
All transactions in Digital Current Account will be done by legitimate sources only and Digital Current Account will not be used for any purposes which are contrary to law. In the event, the User violates these Digital CA Terms or applicable laws, the Bank may, in its absolute discretion, discontinue the Digital CA Services without any notice to the User.
The User will pay to the Bank forthwith upon demand by the Bank, without demur, the proceeds of any wrong credit or excess credit or debit balance or overdraw, received/created in whatsoever manner. In all such instances, the Bank will be entitled to undertake appropriate measures deemed fit in the interests of the Bank.
Notwithstanding any other provisions contained herein, the Bank reserves the right to place a debit freeze, total freeze or exercise its lien on the Digital Current Account or to close or suspend the use of the Digital Current Account at the absolute discretion of the Bank, with or without notice to the User. The Bank may at its sole discretion take suitable action if Bank is of the opinion that continuation of services is prejudicial to its interest. The foregoing actions may be taken by the Bank in the event any discrepancies, inaccuracies in the information submitted by the User, any false / representation made by the User with reference to such Digital Current Account, action pursuant to any observations arising out of regular monitoring of User's Digital Current Account by the Bank and/or any issues arising at the time of document verification. Provided however, the Bank may seek additional information or documents from the User at any time and User will comply with such requests failing which the Bank may exercise of any of the rights. In case the Digital Current Account is put under freeze, the User agrees that principal amount in such account kept (if any), will be payable to in accordance with Bank's internal policies. The closure proceeds will be payable only once lien is expressly removed by the Bank.
The User shall regularly review the changes, modifications or amendments, if any, made by the Bank in any of the above, by accessing these Digital CA Terms.
The User authorizes the Bank to exchange, share, disclose or part with, any or all of the Information, including Information pertaining your Digital Current Account (including personal sensitive data or information), whether provided directly by you or otherwise, with any other third parties engaged by the Bank or with whom the Bank has business relationship, as may be required/permitted by any law, rule or regulations or as required by the Bank and the User shall not hold the Bank or its agents/representatives liable for using/sharing such information.
The User declares and confirms that the Bank shall be entitled to rely on all/any communication, information and details provided on the electronic form and all such communications, information and details shall be final and legally binding on the User and the User agrees to indemnify the Bank for any loss or damage cause to the Bank on account of Bank placing reliance on such communication/information.

KYC Process

In compliance with the KYC Framework, undergoing KYC Process is mandatory in order to open a Digital Current Account. Bank will conduct KYC Process through prescribed mechanisms under the KYC Framework and in accordance with its internal KYC policy, which may include obtaining Information and validation of your identity through services offered by third party authorised service providers such as National Securities Depository Limited (NSDL), DigiLocker, Central KYC Records Registry (CKYCR), Central Identities Data Repository, Credit Information Companies (CIC), Unique Identification Authority of India (UIDAI), Ministry of Micro, Small and Medium Enterprises (Govt. Of India) etc. You will be required to accept the terms and conditions of such third-party service providers whom you authorise to share your Information, including Information relating to the KYC Process, with the Bank.

You provide your express consent to the Bank to undertake the KYC Process for Digital CA Services. KYC can be done by the Bank in the following ways in accordance with KYC Framework and KYC Policy:

Provide your Permanent Account Number ("PAN") – You have to enter or confirm your PAN details which may be fetched from CICs.
Fetching identification information - You will be asked to complete your KYC either through offline verification of Aadhaar or through e-KYC authentication of Aadhaar or by enabling us to obtain your details from the CKYCR or DigiLocker. You hereby authorise the Bank to verify/check/obtain/download your KYC details from the CKYCR as and when required for the purpose of KYC verification; (i) by verifying such details through CKYC number (i.e., KYC identifier number-KIN) provided by you or (ii) by obtaining such CKYC number/KIN, through details made available by you. You also consent to receive information from CKYCR or DigiLocker through SMS/e-Mail on the herein mentioned mobile number/e-Mail Id in this regard. You further consent that the Bank shall update your KYC details on to CKYCR and this might entail downloading your details from CKYCR once again.
Business and income details: You will be given an option to provide your business details like registered name, Udhyam Aadhaar, Goods and Services Tax ("GST") Number and income details for setting up Digital Current Account on the Digital Portal.
Contact point verification: The Bank, at its sole discretion and in accordance with its KYC Policy and KYC Framework, may conduct contact point verification. As part of this process, an authorized representative of the Bank may visit the Customer's business premises to verify the existence, nature, and details of the Customer's business operations and address as provided to the Bank.
Video KYC: You will be required to complete the video KYC as prescribed under the KYC Policy and KYC Framework. You agree and acknowledge that, you will provide all necessary permissions and consents for the purpose of carrying out video KYC with Bank.
Accounts opened through OTP Based E-KYC Authentication from UIDAI)
- The User understands and agrees that being a limited KYC account, the operations of the account shall be limited.
- The User should complete the Full KYC confirming to the guidelines issued by the Reserve Bank of India within one (1) year from the date of opening of Digital Current Account.
- The User herewith confirms that they have not opened any account/deposit through Aadhaar-OTP e-KYC verification in any other bank and they will not open any other account through Aadhaar-OTP e-KYC verification in any other bank.

The Bank may undertake the said KYC Process in such other manner as it deems fit provided it is in accordance with KYC Framework and KYC policy.

Post the submission and successful verification of the Information and the documents containing the Information submitted by you, your Digital Current Account may be opened at the discretion of the Bank, subject to review of your Information and completion of the KYC Process as per KYC Framework and KYC policy.

Use your Aadhaar details and authenticate yourself through Aadhaar based authentication system for the purpose of establishing your identity.
Link the Aadhaar Number to all your existing/new/future accounts and customer profile (CIF) with the Bank.

You authorize the Bank to share your Aadhaar related Information with regulatory and statutory bodies, as required under applicable laws. Notwithstanding anything mentioned under these Terms, Banks shall store and process User's KYC information including but not limited to Aadhaar details in accordance with applicable laws.

OTP based Aadhaar e-KYC authentication

You agree and acknowledge that for the Digital Current Account opened in non-face-to-face mode i.e., through OTP based Aadhaar e-KYC authentication, the aggregate balance of all your deposit accounts shall not exceed INR one (1) lakh. You further understand and agree that the aggregate of all credits in a financial year, in all your accounts taken together, shall not exceed INR two (2) lakh.
You understand that the Digital Current Account opened using OTP based e-KYC shall not be allowed for more than one year unless identification as per section 16 or section 18 (Video KYC) of RBI Master Direction - Know Your User (KYC) Direction, 2016 updated from time to time is completed. You agree and acknowledge that the Bank reserves the right to close the Digital Current Account opened through OTP based e-KYC immediately if the aforementioned limits of INR one (1) lakh and INR two (2) lakh are breached.
You hereby declare that you have not opened any other account, nor will you open using OTP based e-KYC in non-face-to-face mode with any other banks.
You authorize the Bank while uploading KYC information to CKYCR, to indicate that your Digital Current Account is opened using OTP based e-KYC and other banks shall not open accounts based on such KYC information.
You authorize the Bank to strictly monitor the aforesaid procedures including systems to generate alerts in case of any non-compliance/violation, to ensure compliance with the above-mentioned conditions.

Video based KYC

Video KYC process is available only for Users who are physically present in India and if the same can be confirmed through their live location through geo-tagging and shall be accessible only during the working hours defined by the Bank.
Video KYC process shall work only in good network/internet conditions and User should possess requisite documents and materials as informed on the journey page at the time of the video KYC process to avoid any inconvenience.
On opting for video KYC process, a two-way video call will be initiated between the User and the Bank's official to start the video KYC process. As a part of the Video KYC process, the User shall be required to verify their identity by answering certain questions asked by Bank's officials through the video call.
The User shall be required to co-operate with the Bank's officials in every manner and provide all such relevant information/data/documents including but not limited to allowing Bank's officials to capture their photographs or screenshots of various documents including but not limited to Officially Valid Documents ("OVD"), PAN, etc.
The User agrees and consents to co-operate and provide all such relevant data/documents, etc. for the purpose of video KYC process.
The User authorizes the Bank to collect/store/verify/process any and all information/details received through the video KYC process including but not limited to the video call itself, information received from documents/information captured/shared through the video call.
In case the documents shown and verified by the Bank's officials over a video call do not comply with the Bank policy and/or relevant guidelines due to any reason whatsoever, the application request shall be rejected.
Users who have opted for video KYC process for Digital CA Services agree that their request is subject to verification and may be rejected by the Bank for various reasons including, but not limited to:
1. Call drop due to network/internet issues at the User's or the Bank's end or
2. Documents matching criteria is not fulfilled or
3. Bank official is unable to capture the screenshot of User's photo or any document or
4. User is not ready to co-operate with Bank officials or
5. Location of User is outside India or
6. face mismatch or
7. poor quality uploaded documents or
8. For any other reason at the discretion of the Bank.
The User understands that the video KYC process is subject to the availability of Bank officials to conduct such video KYC.

Politically Exposed Persons

By continuing usage of the Digital CA Services, you hereby represent that you are not a Politically Exposed Person (PEP) as defined by the RBI. PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.
You agree and undertake to immediately notify us in circumstances where your PEP status changes, or you become related to a PEP. You should promptly notify us in writing to ensure that appropriate steps are taken in accordance with Applicable Law and our policy. You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by the regulators and as per our KYC Policy. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with us to complete all continuing compliance requirements applicable to a PEP as will be notified to you by us to ensure uninterrupted use of the Digital Current Account.

Operational Conditions for Digital Current Account

The User must complete the application form and provide the information requested by the Bank. The Bank reserves the right to withhold the application form for reasons such as errors in the application, failure of address verification, or other criteria established by the Bank's internal policies. The User shall be required to complete the application form and provide the details requested by the Bank.
Opening of Digital Current Account is subject to verification, and the Bank reserves the right to reject the application form /request for opening Digital Current Account without providing any reason to the User.
The Digital Current Account should be used to route transactions for business and commercial purpose only.
The Bank may levy fees and charges on the Digital Current Account as per schedule of charges duly placed on the website of the Bank.
The Digital Current Account balance can be withdrawn by the User on demand at any time through the Digital Portal.
The statements of accounts may be sent User every month on the registered email and the date of sharing the statement need not be same on every month. If you prefer a physical passbook for your Digital Current Account, please contact via the Digital Portal or help@slicebank.com The User should carefully examine the entries made in their statement of account and draw Bank's attention to any errors/omissions/ discrepancies that may be discovered within 7days from the date of entries falling which the same will be deemed to be correct and accepted by the User.
Cheque book facility, SMS alert facility, debit card facility for the Digital Current Account will be made available to the User as and when requested by the User through Digital Portal and charges shall be as per the schedule of charges as duly placed on the website of the Bank.
The User herewith agrees to be contacted by the Bank to receive information with respect to account maintenance, alerts, payments due, servicing their relationship with the Bank, associates or agents through telephone/mobile/SMS/email, etc. To ensure that you may not receive any unsolicited commercial calls please contact your telephone service provider for registration in the National Do Not Call Register of Telecom Regulatory Authority of India (TRAI). If, however, you still receive any unwelcome call, please write to us at help@slicebank.com indicating, if possible, the telephone number from which the call was made.
The User will keep the Bank informed at all times, of any change in their communication address and business details or any other personal information and authorize the Bank to update the change in the Bank's record. The User will be solely responsible for ensuring that the Bank has been informed of the correct address for communication and any changes/corrections in the User's personal information or communication details.
The Bank reserves the right to change, modify or amend the Digital CA Terms and the formalities/procedures for opening Digital Current Account periodically or from time to time, and the User shall be responsible for regularly reviewing such changes, modifications or amendments as may be hosted/published on the website or on the Digital Portal.
The Bank disclaims and you release Bank from any liability for any unauthorized use of your Digital Current Account and for any loss or damage incurred directly or indirectly by you as a result.
The Bank reserves the right to disclose the information about the User if required or permitted by applicable law, at the request or order of any statutory, regulatory or judicial authority, or if such disclosure is required for the purposes of preventing fraud.
The Bank shall have an absolute right to discontinue any Digital CA Services by providing 30 (Thirty) days' notice. Such notice may be provided through the Digital Portal or through such means as authorized by the Bank.
The Bank reserves the right to close the Digital Current Account of any User in case of unsatisfactory conduct or operation of such account or if the Bank is of the view that continuance of such account is detrimental to the interest of the Bank.
Interest - No interest shall be paid on the credit balance in the Digital Current Account. However, simple interest at the rate of savings account shall be paid on credit balance of deceased Users, from the date of his/her death till the date of payment to the legal heirs. In the case of death of a sole proprietor, interest will similarly be paid in the account of the sole proprietary firm.
UPI QR and Soundbox- The Bank shall provide you with the facility to accept payments instantly through a pre-issued UPI QR code. Additionally, you may request a soundbox device via the Digital Portal, enabling real-time audio alerts for incoming UPI payments. These services are offered subject to the Bank's terms, availability, and applicable policies.
UPI handle for your Digital Current Account - You hereby expressly consent to the creation/linking of a UPI handle/UPI ID to your Digital Current Account and agree to utilize the UPI services strictly in accordance with the terms and conditions prescribed by the Bank and as may be amended from time to time. You further acknowledge and agree that the issuance, structure, and format of the UPI ID/UPI handle shall be determined solely at the discretion of the Bank, subject to and in compliance with applicable laws, regulations, and guidelines. In the event you wish to de-register your UPI handle/UPI ID, you shall be required to submit a request to our customer support team at help@slicebank.com or at 080 4832 9999 or through the "Help & Support" section of the Digital Portal and such de-registration shall be effected in accordance with the Bank's policies and applicable regulatory requirements.
Refunds/Chargeback- In case of failed/returned/rejected/cancelled transactions, refund shall be processed in accordance with applicable laws and refund (if any) would be received on your Digital Current Account within such timelines as prescribed under applicable laws. However, if you erroneously process a payment to a merchant, you can notify the Bank to raise a chargeback, and the same shall be processed in accordance with applicable laws.
Additional facility- The User may request additional banking facilities, including but not limited to debit card issuance linked to the current account, cheque book issuance, and cheque management services, by contacting the Bank through the Digital Portal or via email at help@slicebank.com Provision of such facilities shall be subject to the Bank's verification, approval, and applicable terms and conditions.

Closure of User Account

User may close their Digital Current Account by making a request on the Digital Portal.
If the Digital Current Account is closed for reasons whatsoever by the Bank, the Bank shall provide the option to the User to withdraw or transfer the proceeds (after the right of set-off, if any, of the Bank) to some other account of the User as per the Bank's policy which will be valid discharge of the obligations of the Bank in this regard.
The Bank may, at its sole discretion, place operational restrictions in any Digital Current Account of the User or close such account, if the account is conducted unsatisfactorily in the opinion of Bank or if the account does not conform to the extant guidelines of RBI.
The Bank reserves the right to close Digital Current Account without notice to the User if the Bank has reason to believe that the funds are received from an illegitimate source.
The Bank reserves the right to close any Digital Current Account of the User in case of unsatisfactory conduct or operation of such account or if the Bank is of the view that continuance of such account is detrimental to the interest of the Bank.
The Bank reserves the right to terminate the use of the Digital Current Account at any time, without prior notice, if deemed necessary for business or security reasons. Such reasons may include, but are not limited to, the following: (i) improper use of the Digital Current Account; (ii) submission of misleading or incorrect information or documents during the onboarding process on the Digital Portal (iii) failure to provide information or documents as required by applicable laws, including identification documents, in accordance with the Bank's internal policies or as mandated by applicable laws; or (iv) involvement in any civil litigation or criminal proceedings by any authority, court of law, or professional body.
To ensure compliance with applicable laws and the Bank's internal policies, the Bank reserves the right to conduct periodic reviews of the operations in the Digital Current Account. These reviews will aim to identify any unusual or excessive transactions with select Merchants, or any potential collusion with Merchants. The Bank will also monitor for any misuse or overuse of features, offers, or programs intended to accumulate undue reward points, cashbacks, or other benefits. If the Bank suspects any such irregularities based on the usage patterns, it may take immediate restrictive actions on the operations of the Digital Current Account. Such actions may include, but are not limited to, the withdrawal of features or benefits and the complete termination or blockage of the Digital Current Account. In the event of such actions, it shall be the User's responsibility to provide satisfactory evidence of legitimate usage of the Account and associated features or benefits reinstated, at the Bank's discretion. The Bank's decision in this regard shall be final and binding on the User.

Inoperative Account

Digital Current Accounts which have not been operated for over a period of 2 years will be categorised as 'inoperative' account. However, Digital Current Account which are not operated for 10 years will be categorised as 'unclaimed deposit Account' as provided under RBI circular "Inoperative Accounts /Unclaimed Deposits in Banks- Revised Instructions dated Jan 01,2024". A request for activation of such inoperative Account has to be made by the User through the Digital Portal subject to Bank's internal policies and applicable laws.

Nomination

The nomination facility is available in accordance with applicable laws including but not limited to the Banking Companies (Nomination) Rules, 1985. User has to designate a nominee (who should be an individual) while availing Digital CA Services. In case the nominee is a minor, the name of the guardian to be specified. In case a nomination facility has been availed by the User, the Bank will be discharged of its liability in regard to the funds available to the credit of such Digital Current Account by making the payment to the nominee subject to the terms specified by the Bank, unless specifically prohibited by an order of the Court.
User shall nominate any person who, in the event of death of the User shall become entitled to the Digital Current Account proceeds and the payment thereon. If such nomination is not made at the time of opening of Digital Current Account, it may be made by the User at any time after Digital Current Account is opened, by such means as may be prescribed in Bank's internal policies.
In the event of death of the User in respect of which a nomination is in force, the nominee shall be entitled to the proceeds of the Digital Current Account of the User. For the aforesaid purpose, the surviving nominee shall make an application to the Bank, supported by all relevant documentation.
Only one nominee is permissible for Digital Current Account and the nominee should be an individual.
The User is at liberty to change the nominee, through declaration in the appropriate form/in the manner stipulated by the Bank to revise the nomination during the maintenance of the Digital Current Account with the Bank.
The User authorizes the Bank to act upon his/her instruction regarding nomination, cancellation, or variation of the nomination in respect of the Digital Current Account. The User shall not hold the Bank responsible and shall indemnify the Bank on account of any claim against the Bank for acting on the instruction of nomination given by the User.
In the absence of any nominee, the Bank may retain any and all funds in Digital Current Account until it establishes the identity and credentials of the successor/legal heir to the account holder to its satisfaction, which may include evidence in accordance with applicable law.
Advantages of Nomination- The Bank actively recommends that all Users avail the nomination facility. The nominee, in the event of death of the User, would receive the proceeds of the Digital Current Account. The Bank may retain the proceeds in the Digital Current Account until it establishes the identity and credentials of the legal heir(s) to its sole satisfaction, and the Bank reserves the right to demand and inspect requisite documentation in this regard, including a succession/legal heir certificate and/or a duly probated will. Without prejudice to the foregoing, in the event of death of a User, the Bank reserves the right to pursue all courses available to it under law and equity at its discretion to recover any amounts that are payable to the Bank, from the heirs or nominees of the User.

Banker's Lien and Set-Off

The Bank shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future, on all the deposits held by the User, whether in single name or joint name(s), to the extent of all amounts payable by the User arising as a result of any of Bank's services extended to and/or used by the User or as a result of any other facilities that may be granted by the Bank to the User.
The Bank is entitled without any notice to the User to settle any indebtedness whatsoever owed by the User to the Bank, whether actual or contingent, or whether primary or collateral, or whether joint and/or several, including without limitation indebtedness under any indemnity given by the User to the Bank hereunder or under any other document/ agreement, by adjusting, setting-off any balance in the Digital Current Account held by the User with the Bank, notwithstanding that the Digital Current Account may not be expressed in the same currency as such indebtedness.
The Bank reserves the right to block, suspend, deactivate, or restrict the User's Digital Current Account upon receiving any notice, directive, or order from the Ministry of Home Affairs (MHA), fraud prevention authorities, regulatory bodies, government agencies, or courts or any enforcement authorities. This includes withholding or setting off any amounts in the account as mandated by such authorities.
The Bank's rights hereunder shall not be affected by the User's bankruptcy, insolvency, death or winding-up.
In addition to Bank's rights of set-off, lien or any other right which it may at any time be entitled whether by operation of law, contract or otherwise, the User authorises the Bank:
1. to combine or consolidate at any time all or any of the accounts and liabilities of the User with or to the Bank; and
2. to apply, set-off or transfer at any time (without prior notice to the User) any credit balance (whether or not then due) to which the User is at any time beneficially entitled (whether singly or jointly) on any Digital Current Account, in the User's name, with the Bank towards the satisfaction of any or all of the User's liabilities (whether such liabilities be present or future, actual or contingent, primary or collateral, or several or joint) under the Digital CA Terms or under the terms of any other facilities that may be granted by the Bank to the User.
The Bank shall not be under any obligation to exercise any of its rights under this clause.

The above-mentioned rights of the Bank are without prejudice to the obligations of the User to pay to the Bank when due all its indebtedness and without prejudice to any other rights that the Bank may have against the User for recovery of outstanding from User to the Bank.

Auto Debit facility

You hereby agree and acknowledge that any mandate/standing instruction/auto debit/UPI autopay registered by you on your Digital Current Account will be executed by the Bank as per applicable law.

Users shall be given an option to select the maximum amount allowed for auto debit facility as per applicable laws. Appropriate factor of authentication will be taken from the Users while setting up the auto debit facility. Users can pause, modify or cancel the auto debit facility anytime and these would also entail undertaking appropriate factor of authentication.

Adding Beneficiary

Bank provides you with a facility of adding beneficiaries in your Digital Current Account in accordance with applicable laws whereby you can register the beneficiaries by providing their bank account details. This would enable you to transfer money from your Digital Current Account to the beneficiaries' bank account.

Users may manage beneficiaries for fund transfers, including adding, modifying, or deleting beneficiary details, cooling off period through the Digital Portal, subject to applicable security protocols and verification procedures by the Bank. The detailed process of adding beneficiaries, transaction limits, maximum number of beneficiaries which can be added, cooling off period etc., can be found here.

Rewards

"Rewards" refer to the slice coins or any other incentive as a part of the slice reward program credited to a customer's account for completing eligible transactions, which may be redeemed or reversed according to the program rules and Bank's discretion.

Eligibility and Reward Structure

Users who perform UPI transactions using the slice QR code are eligible to earn slice coins equivalent to 10% of the transaction value.
Only UPI payments with a transaction value between ₹10 and ₹2,000 (inclusive) shall be eligible for slice coins rewards program.
The associated value of slice coins shall be credited to the User's Digital Current Account based on the eligible transaction amount, subject to these terms.

Redemption of Slice Coins

slice coins may be redeemed for cash at a conversion rate of 100 slice coins = ₹1.
Users may earn a maximum of 20,000 slice coins per calendar month under this program.

Disqualification and Suspension of Rewards

The Bank reserves the exclusive right to disqualify any transaction from earning slice coins rewards without prior notice if such transactions are deemed suspicious, fraudulent, or violate applicable laws or the Bank's policies.
The decision of the Bank regarding the eligibility of any transaction for slice coins rewards shall be final and binding.

Reversal and Fortification Rights

Bank reserves the right to reverse or cancel any slice coins credited to a User's Digital Current Account that remain unused, in whole or in part, at its sole discretion.

The Bank further reserves the right to reverse any slice coins redemptions that have already been performed, if such redemptions are found to be in violation of these terms or any applicable laws, or if they result from erroneous or fraudulent activity or as per sole discretion of the Bank.
Any reversal of slice coins or redemptions shall be communicated to the User at the earliest reasonable opportunity.

General Provisions

The Bank may amend, suspend, or terminate the slice Rewards Program or these Terms and Conditions at any time without prior notice.
By participating in the slice Rewards Program, Users agree to be bound by these Digital CA Terms.

Debit Card Facility

The User may request the issuance of a debit card linked to the Digital Current Account by contacting the Bank through the Digital Portal or by emailing help@slicebank.com The Most Important Terms and Conditions (MITC) for Debit Card can be found here.

Terms for IMPS and RTGS Facility

These terms and conditions shall govern every payment order issued by the User under the IMPS and RTGS Facility ("Electronic Transfer Terms").
The User understands and acknowledges that nothing contained under the Electronic Transfer Terms shall be construed as creating any contractual or other rights against the RBI, NPCI or any participant in the payment system other than the Bank to the extent provided under these Terms.
The User hereby acknowledges that the User has read and understood the Regulations and agrees that the rights and obligations provided therein and, in these Electronic Transfer Terms in so far as it relates to the User shall be binding on the User with regard to every request for transfer of electronic funds from Digital Current Account under IMPS or the RTGS Facility made by the User.
The Bank shall be entitled, at its sole discretion, to accept and process or reject such request for an electronic transfer of funds from your Digital Current Account under IMPS or the RTGS Facility. These Electronic Transfer Terms shall be in addition to and not in derogation governing the Regulations and/ any other regulations, circulars, orders, notifications, press releases, instructions issued by RBI or NPCI from time to time, including the aforesaid regulations and any practices or policies followed by the Bank from time to time.
The Bank will have no obligations to any person including any beneficiary (or any person claiming under or through such beneficiary) other than the User, for the execution of any request for transfer of funds under IMPS or the RTGS Facility from their Digital Current Account. All obligations of the Bank to the User in relation to any request for transfer of funds under IMPS or RTGS Facility shall cease upon the execution of such request by the Bank.
The Bank shall execute a payment order for IMPS Facility requested or made by the User unless:
1. The funds available in the Digital Current Account of the User are not adequate or properly applicable to comply with the payment order and the User has not made any other arrangement to meet the payment obligation.
2. The payment order is incomplete, or it is not issued in the agreed form.
3. The Bank has reason to believe that the payment order is issued to carry out an unlawful transaction.
4. The payment order cannot be executed in terms of the Regulations through the IMPS or the RTGS system as per applicable law.
The Bank will upon execution of every payment order under IMPS or the RTGS Facility by it will be entitled to debit the Digital Current Account of the User, the amount of the funds transferred together with charges payable thereon.
No payment order issued by the User shall be binding on the Bank until the Bank has accepted it.
Disclaimers:
1. Bank shall not be liable for any incomplete information provided by the User while transferring funds through IMPS or the RTGS Facility through use of Bank provided channels or through any assisted channels, if made available by the Bank.
2. The instructions issued for online fund transfer under IMPS or the RTGS Facility shall be irrevocable, and the User understands that they shall not be entitled to revoke / cancel the same under any circumstances after initiating the transfer on their Digital Current Account.
3. The User shall solely be responsible for the correctness of all information pertaining to the beneficiary and the transaction while availing the IMPS or the RTGS Facility.
4. The User shall report to the Bank any discrepancy in the execution of a payment order under IMPS or the RTGS Facility.
5. In case of any failure of transaction for reasons like server connectivity, time out, system downtime etc., the amount involved under such transfers will be restored to the account originally debited.
6. Transactions initiated through IMPS or RTGS cannot be cancelled, discontinued or stopped and become irrevocable when such instructions have been executed and/ or are in the Bank's system, and the revocation of such instruction is not possible.
7. The User agrees that they are aware that there is a risk of non-payment to the beneficiary on the day of the transaction which may be for any reason whatsoever, including a holiday at the beneficiary's branch. The Bank or NPCI or any other participant in the IMPS or RTGS shall not be liable, in any manner whatsoever, to the User for any such delay.
8. The User agrees that RBI and/or NPCI may terminate, modify, assign the provisions of the IMPS or the RTGS Facility and the User shall abide by the same.

Cheque Book Facility

Upon request of cheque book by the User on the Digital Portal or through the Branch, the Bank may endeavor to make the facility available to the User, as per the Bank policies and Regulations.
User Eligibility: User must be a resident Individual/sole proprietorship having an operational Digital Current Account.
User Representations:
1. The User agrees and acknowledges that upon request, the cheque books will be dispatched by courier /messenger/ mail or through any other mode by the Bank at its discretion to the address notified by User for correspondence.
2. The User agrees to preserve the cheque book issued by the Bank and in case of loss/theft of the same are required immediately inform the Bank in writing.
3. The User agrees that there would be sufficient funds in their Digital Current Account for effecting transactions through cheques.
4. The User agrees that the Bank shall not be liable for any consequences arising out of non-compliance by the Bank of any instructions due to inadequacy of funds and the Bank can at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds without prior approval from or notice to the User.
5. The User agrees that frequent dishonor of cheques or high value cheque returns due to insufficient funds may lead to discontinuation of cheque books/closure of Digital Current Account.

Governing law and disputes resolution

These Digital CA Terms will be governed by and construed in accordance with Indian laws. If a dispute arises between you and Bank, our goal is to provide you with a neutral and cost-effective means of resolving the dispute quickly. In the event of a dispute, we encourage you to first contact the Bank at +91-8048329999 or help@slicebank.com to try resolving your problem directly with us. If the parties are unable to resolve any dispute amicably within 30 days of the notice of such dispute, the dispute will be subject to the exclusive jurisdiction of the courts in Guwahati, Assam, India.

Force Majeure

Indemnity and Limitation of Liability

You agree that you shall indemnify and hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing any of the services or due to any negligence/mistake/misconduct on my part or breach or non-compliance by you of any of the Terms relating to any of the services or by reason of the Bank in good faith taking or refusing to take action on any instruction given by you.
The Bank will not be liable for any connectivity, network or data issues leading to non-completion or wrong/ false/incomplete information being provided by the User leading to the incompletion of their application for opening of Digital Current Accounts.
Under no circumstances the Bank will be liable to the User for any indirect, incidental, consequential, special or exemplary damages in connection with the Digital Current Account.

Grievance Redressal

Bank has a clearly defined grievance redressal process for speedy and effective redressal of customer grievance. For registering grievances, kindly escalate the complaint/grievance on the Digital Portal of the Bank.
Any complaint, dispute, or grievance in relation to the Services should be addressed to the Bank, in accordance with the Bank's Grievance Redressal Policy.

Miscellaneous

Insurance: All Bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions. The details of the insurance cover in force will be made available to the User. The DICGC insures all deposits such as savings, fixed, current, recurring, etc. deposits except the following types of deposits:
- Deposits of foreign Governments
- Deposits of Central/State Governments
- Inter-bank deposits
- Deposits of the State Land Development Banks with the State co-operative bank
- Any amount due on account of and deposit received outside India
- Any amount, which has been specifically exempted by the corporation with the previous approval of RBI.
Each User in the Bank is insured up to a maximum of Rs. 5,00,000 (Rupees Five Lakh) for both principal and interest amount held by him/her in the same right and same capacity.

The deposits kept with the Bank are aggregated for the purpose of insurance cover and a maximum amount up to Rupees Five lakh is paid. For example, if a User had an account with a principal amount of Rs. 4,95,000 plus accrued interest of Rs. 4,000, the total amount insured by the DICGC would be Rs. 4,99,000. If, however, the principal amount in that account was Rs. Five lakh, the accrued interest would not be insured, not because it was interest but because that was the amount over the insurance limit.
Modification: Bank has the absolute discretion to amend or supplement any terms and conditions at any time without prior notice by notifying through posting on the Bank website or through any other means or through the Digital Portal as Bank may deem fit which will constitute sufficient notice and such amendments or supplements will be binding on the User. User usage of new functionalities or features notified or made available will be treated as acceptance of terms and conditions applicable thereof.
Assignment: The User agrees and understands that the services provided by the Bank are neither transferable nor assignable to any party.
Compliance with Laws: The User will solely be responsible for ensuring full compliance with all the applicable laws and regulations in any relevant jurisdiction in connection with establishment of their Digital Current Account with the Bank. The User agrees to abide by and be bound by all applicable rules/ regulations/ instruction/ guidelines issued by the RBI, the Common Reporting Standards (CRS), FATCA and any other governmental or regulatory authority, in force from time to time.
Entirety of the Terms: These Digital CA Terms, which includes along with any agreements, annexures, exhibits, or any additional service terms applicable to the Digital CA Services, which are incorporated by reference, constitute the entire terms between the Bank and you regarding the subject matter hereof.
Severability: If any portion of these Digital CA Terms are found to be unenforceable, the remaining portion will continue to remain in full force and effect.
No Waiver: If the Bank fails to enforce any part of these Digital CA Terms, a waiver will not be considered.

Terms and Conditions for Digital Merchant Loans

These terms and conditions, along with any agreements, annexures, exhibits, or any additional service terms ("Digital Merchant loan Terms"), apply when you ("you" or "User" or " Merchant") opt to avail credit facility ("Digital Merchant Loan", "Loan") provided or made available by slice Small Finance Bank Limited (the "Bank", "we", "us" or "our") either through any digital platform operated by the Bank including but not limited to slice business application or by any authorised third-party ("Digital Portal").

In addition to the Mobile Banking Terms, the Digital Merchant loan Terms along with any other agreements or documents executed / accepted by you, apply to you for availing the Digital Merchant Loans.

By registering for availing the Digital Merchant Loans, you signify that you have read, understood and agreed to these Digital Merchant loan Terms without any limitation. If you do not agree with these Digital Merchant Loans, please do not register or avail this credit facility.

The headings contained in these Digital Merchant loan Terms are for reference purposes only.

These Digital Merchant loan Terms incorporate the Privacy Policy of the Bank (including any updates and amendments), available here by reference.

I. Definitions

"Applicant, "Merchant" or "User" ," you" refers to an individual or business entity (represented by an authorized representative) that sells goods or services to customers and accepts payments in exchange for those goods or services inclusive of a marketplace and who submits a formal request to the Bank for availing the Digital Merchant Loan through the Digital Portal, subject to the eligibility criteria provided in these Digital Merchant loan Terms and as per Banks' policies and procedures.

"KYC Framework" means and includes Master Direction - Know your User (KYC) Directions, 2016 issued by the Reserve Bank of India ("RBI"), read with the Prevention of Money Laundering Act, 2002.

"KYC Policy" means the board approved know your customer policy of the Bank.

"'Loan Documents'" shall mean the documents, instruments and records pertaining to the Loan including the following documents collectively:

KFS;
Loan Agreement;
Sanction Letter;
any other document executed from time to time pursuant to any of the foregoing to which the Borrowers and the Lender is a party; and
any other agreement or document which the Lender have designated as a Loan Document

"Regulations" means circulars, guidelines, or regulations and/or guidelines issued by the RBI, NPCI or any other regulators for the subject matter contained under these terms.

"Repayment Frequency" refers to the intervals at which Loan repayments are to be made to the Bank, as determined and communicated by the Bank

"RBI" means the Reserve Bank of India.

"MPIN" shall mean the mobile banking PIN and/or password or other similar form factors generated at the time of registration of the Merchant on the Digital Portal.

"Registered Bank Account" refers to any bank account of the Borrower registered either with the Lender or any other scheduled commercial Bank within India.

"Source Account" refers to an account where mandate has been created by the User for repayment of the Digital Merchant Loan.

II. Eligibility criteria to avail the Digital Merchant Loans

Self-employed individuals or sole proprietorships who are qualified and are registered as MSMEs or such other persons as per the discretion of the Bank are eligible to avail Digital Merchant Loans.
Applicant should be an Indian citizen and resident of India.
Applicant should be 18 years and above.
Applicant should be physically present in India at time of digital application and/or video-KYC.
Applicant should not have a tax obligation to any country other than India (FATCA reportable).
Applicant should not be a PEP under the KYC Framework.
Applicant's mobile number should be linked with Aadhaar number of the Applicant (only applicable in case of accounts opened using OTP based Aadhaar e-KYC authentication)
GST registration and Udyam registration of the Applicant shall be mandatory

The Bank may, in its sole discretion, impose any other qualification or eligibility criteria.

III. Merchant Loan Application

As part of the Digital Merchant Loan application process, the applicant agrees to provide accurate and complete documentation, including but not limited to PAN linked to the business, business QR code, registered business name, annual turnover, annual income details, Udyam Aadhar number, GST number and all other relevant business documents. The applicant further agrees to upload clear images of the business/shop premises as required for bank verification and KYC validation. Submission of these documents through the digital portal is mandatory and essential for the processing, verification, and approval of the loan application. Failure to provide the requested information or documents may result in delays or rejection of the loan application.
The Merchant agrees to provide accurate, true, and complete information in the application form and any supplementary documents.

IV. Digital Merchant Loans

In relation to Digital Merchant Loans, the Bank will provide the following functionalities and services to you through Digital Portal:

Collect information and documents required to undertake your KYC and underwrite and assess your credit worthiness for the purpose of providing availing you the Digital Merchant Loan from the Bank.
Sanction the Loan to you through the Digital Portal at its sole direction as per the terms of the Loan documents including but not limited to Loan Agreement, Sanction letter. Key Fact Statement, Most important Terms and Conditions etc. ("Loan Terms").
Disbursal of the amount of Loan sanctioned to you instantly to your Registered bank account, in accordance with these Terms and the Loan Terms.
The Bank shall determine and set the maximum Loan amount available to the User through the Digital Portal. The User's access to this Digital Merchant Loan shall be limited to, and may not exceed, this maximum Loan amount. This Loan availed by the User are subject to the terms of the Loan Terms and require full repayment of any outstanding dues before additional credit can be accessed.
Provide the details of Loan availed along with the repayments (including the principal and interest) for such Loan, on the Digital Portal;
Provide or enable methods (including electronic payment methods) to you for repayment of the Loan availed by you;
Engage in collection of the Loan repayment amounts in accordance with applicable laws or the Loan Terms;
Provide customer support to you in relation to the Digital Merchant Loan, including providing the facility for you to raise grievances, complaints or provide feedback, in relation to the Digital Merchant Loan; and provide any ancillary or support services.
Bank reserves the right, exercisable as and when it deems fit and at its sole discretion, to modify, or to add new or remove existing, functionalities, processes or mechanisms, in relation to the Digital Merchant Loan.
The details and information of the Loan and otherwise in relation to the Loan Services will be displayed on the Digital Portal and you are requested to check the Digital Portal regularly for such details and information.

V. Fees

Processing Fees- A non-refundable processing fee may be levied on you, details of which will be communicated to you in the Loan Terms made available on the Digital Portal.
Rate of Interest- The interest rate applicable to your Loan will be communicated to you at the time of Loan sanction and will be outlined in the Loan Terms and Key Fact Statement (KFS) available on the Digital Portal. The interest rate is determined based on several factors, including but not limited to guidelines issued by the Reserve Bank of India ("RBI"), the Bank's internal policy, your creditworthiness, and the loan tenure. The effective interest rate and the total interest payable will be provided in the Loan Terms. The Annual Percentage Rate (APR), which reflects the total cost of borrowing including all applicable fees and charges, will also be disclosed in the KFS (as defined below).
Penal Charges- Penal charges may be levied in the event of delayed or missed payments, as specified in the Loan Terms and the KFS (as defined under the Loan Agreement). These charges will be calculated based on the overdue/default amount. The Bank reserves the right, at its sole discretion, to provide waivers or reductions of penal charges from time to time. Any such waivers will be granted on a case-by-case basis and will be governed by the Bank's internal policies and assessment.
Foreclosure and Prepayment Charge- These charges shall be levied in case of prepayment/foreclosure of Loan as per Bank's board approved policy. In the event you choose to foreclose or prepay your Loan, you agree and acknowledge that an additional day's interest may be charged for the time taken for the payment to be fully processed and settled. This charge will be calculated on the outstanding Loan amount as of the date of prepayment/foreclosure.
Additional charges may also be applicable and levied based on the method of payment chosen by you for repayment of the Loan. Such charges (if any) will be intimated to you, prior to you making the repayment.
You are also responsible for any fees or other amounts that your phone service provider charges, such as fees for SMS, call services, data services, and any other fees that your phone service provider may charge.
All fees and charges applicable to or associated with the Loan will be disclosed to you under the KFS (defined below).

VI. Submission of Information

You agree and acknowledge that you provide all necessary consents and permissions to the Bank to service such Loans in accordance with these Loan Terms.
You agree that you will be required to undergo the KYC verification as a mandatory step, in order to avail the Digital Merchant Loan, in accordance with KYC Policy and KYC Framework.
Bank will initiate the process for identity and KYC verification and assessment of credit worthiness. You agree that the processes and information that we seek from you may vary from the input provided by you under your profile on the Digital Portal.
You agree to provide all information required during the merchant application process. The Bank reserves the right to request additional documents at any time to verify your business, in accordance with applicable laws and the Bank's internal policies

VII. KYC Process

In compliance with the KYC Framework, undergoing KYC Process is mandatory in order to open the Digital Merchant Loan. Bank will conduct KYC Process through prescribed mechanisms under the KYC Framework and in accordance with its internal KYC policy, which may include obtaining Information and validation of your identity through services offered by third party authorised service providers such as National Securities Depository Limited (NSDL), DigiLocker, Central KYC Records Registry (CKYCR), Central Identities Data Repository, Credit Information Companies (CIC), Unique Identification Authority of India (UIDAI), Ministry of Micro, Small and Medium Enterprises (Govt. Of India) etc. You will be required to accept the terms and conditions of such third-party service providers whom you authorise to share your Information, including Information relating to the KYC Process, with the Bank.
You provide your express consent to the Bank to undertake the KYC Process for availing the Digital Merchant Loan. KYC can be done by the Bank in the following ways in accordance with KYC Framework and KYC Policy.
1. Provide your Permanent Account Number ("PAN") – You have to enter or confirm your PAN details which may be fetched from CICs.
2. Fetching identification information - You will be asked to complete your KYC either through offline verification of Aadhaar or through e-KYC authentication of Aadhaar or by enabling us to obtain your details from the CKYCR or DigiLocker. You hereby authorise the Bank to verify/check/obtain/download your KYC details from the CKYCR as and when required for the purpose of KYC verification; (i) by verifying such details through CKYC number (i.e., KYC identifier number-KIN) provided by you or (ii) by obtaining such CKYC number/KIN, through details made available by you. You also consent to receive information from CKYCR or DigiLocker through SMS/e-Mail on the herein mentioned mobile number/e-Mail Id in this regard. You further consent that the Bank shall update your KYC details on to CKYCR and this might entail downloading your details from CKYCR once again.
3. Business and income details: You will be required to provide your business details like registered business name, business address, Udhyam Aadhaar, Goods and Services Tax ("GST") Number and business income details as per the application process to avail the Digital Merchant Loan.
4. Additional information- Bank at its sole discretion may also seek any additional information in accordance with its internal policies for the purpose of due diligence of business operations of the Applicant.
5. Contact point verification: The Bank, at its sole discretion and in accordance with its KYC Policy and KYC Framework, may conduct contact point verification. As part of this process, an authorized representative of the Bank may visit the Customer's business premises to verify the existence, nature, and details of the Customer's business operations and address as provided to the Bank.
6. Video KYC: You will be required to complete the video KYC as prescribed under the KYC Policy and KYC Framework. You agree and acknowledge that, you will provide all necessary permissions and consents for the purpose of carrying out video KYC with Bank.
Accounts opened through OTP Based E-KYC Authentication from UIDAI
- The User understands and agrees that being a limited KYC account, the operations of the account shall be limited.
- The User should complete the Full KYC confirming to the guidelines issued by the Reserve Bank of India within 1 year from the date of opening of Digital Current Account.
- The User herewith confirms that they have not opened any account/deposit through Aadhaar-OTP e-KYC verification in any other bank and they will not open any other account through Aadhaar-OTP e-KYC verification in any other bank.

The Bank may undertake the said KYC Process in such other manner as it deems fit provided it is in accordance with KYC Framework and KYC policy.

Use your Aadhaar details and authenticate yourself through Aadhaar based authentication system for the purpose of establishing your identity.
Link the Aadhaar Number to all your existing/new/future accounts and customer profile (CIF) with the Bank.

You authorize the Bank to share your Aadhaar related Information with regulatory and statutory bodies, as required under applicable laws. Notwithstanding anything mentioned under these Terms, Banks shall store and process User's KYC information including but not limited to Aadhaar details in accordance with applicable laws.

OTP based Aadhaar e-KYC authentication

You agree and acknowledge that for the Digital Merchant Loan opened in non-face-to-face mode i.e., through OTP based Aadhaar e-KYC authentication, the aggregate amount of term loans sanctioned shall not exceed rupees sixty thousand in a year.
You hereby declare that you have not opened any other account, nor will you open using OTP based e-KYC in non-face-to-face mode with any other banks.
You authorize the Bank while uploading KYC information to CKYCR, to indicate that your Digital Merchant Loan account is opened using OTP based e-KYC and other banks shall not open similar accounts based on such KYC information.
You authorize the Bank to strictly monitor the aforesaid procedures including systems to generate alerts in case of any non-compliance/violation, to ensure compliance with the above-mentioned conditions.

Video based KYC

Video KYC process is available only for Users who are physically present in India and if the same can be confirmed through their live location through geo- tagging and shall be accessible only during the working hours defined by the Bank.
Video KYC process shall work only in good network/internet conditions and User should possess requisite documents and materials as informed on the journey page at the time of the video KYC process to avoid any inconvenience.
On opting for video KYC process, a two-way video call will be initiated between the User and the Bank's official to start the video KYC process. As a part of the Video KYC process, the User shall be required to verify their identity by answering certain questions asked by Bank's officials through the video call.
The User shall be required to co-operate with the Bank's officials in every manner and provide all such relevant information/data/documents including but not limited to allowing Bank's officials to capture their photographs or screenshots of various documents including but not limited to Officially Valid Documents ("OVD"), PAN, etc.
The User agrees and consents to co-operate and provide all such relevant data/documents, etc. for the purpose of video KYC process.
The User authorizes the Bank to collect/store/verify/process any and all information/details received through the video KYC process including but not limited to the video call itself, information received from documents/information captured/shared through the video call.
In case the documents shown and verified by the Bank's officials over a video call do not comply with the Bank policy and/or relevant guidelines due to any reason whatsoever, the application request shall be rejected.
Users who have opted for video KYC process for the Digital Merchant Loan agree that their request is subject to verification and may be rejected by the Bank for various reasons including, but not limited to:
1. Call drop due to network/internet issues at the User's or the Bank's end or
2. Documents matching criteria is not fulfilled or
3. Bank official is unable to capture the screenshot of User's photo or any document or
4. User is not ready to co-operate with Bank officials or
5. Location of User is outside India or
6. face mismatch or
7. poor quality uploaded documents or
8. For any other reason at the discretion of the Bank.
The User understands that the video KYC process is subject to the availability of Bank officials to conduct such video KYC.

Politically Exposed Persons

By availing the Digital Merchant Loan, you hereby represent that you are not a Politically Exposed Person (PEP) as defined by the RBI. PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.
You agree and undertake immediately notify us in circumstances where your PEP status changes, or you become related to a PEP. You should promptly notify us in writing to ensure that appropriate steps are taken in accordance with Applicable Law and our policy. You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by the regulators and as per our KYC Policy. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with us to complete all continuing compliance requirements applicable to a PEP as will be notified to you by us to ensure uninterrupted use of the Digital Current Account.

VIII. Verification

Bank will make a verification, assessment and examination of the information and documents. The Bank may undertake the verification in any manner it deems fit, provided it is in accordance with applicable laws including KYC Framework.
Bank reserve the sole right and discretion to modify the process and mechanism of the verification, assessment and examination of the information and documents, including for the purposes of KYC verification or underwriting, without any notice or liability to you.

IX. Disbursal of Loan

Once your application is approved, you will be eligible to avail or drawdown the Loan, in accordance with the Terms, Loan Terms and any other terms and conditions as notified to you on the Digital Portal.
Each drawdown requested by you shall be considered a separate loan, governed by the terms of the Loan Agreement and the Key Fact Statement (KFS), subject to the approved Loan amount and Loan shall be disbursed into your Registered bank account.
Interest, fees, and repayment obligations shall apply on the aggregated outstanding principal and shall be calculated from the respective dates of disbursement of each drawdown.
If you receive any incorrect credit of funds into your registered bank account, receive funds that do not rightfully belong to you, or notice any suspicious or fraudulent activity in your account, you must immediately notify the Bank by contacting us at +91-8048329999 or via email at help@slicebank.com

X. Cooling Off Period

Cooling Off Period shall mean the time period provided to the User for exiting the Loan, in case the User decides not to continue with the Loan in accordance with the Loan Terms. The details of such Cooling Off Period will be communicated to you in the Loan Terms and KFS (as defined below). You hereby agree and acknowledge that you can exercise such option only in accordance with Loan Terms and the KFS.

XI. Key Fact Statement and disclosures

The Loan Terms and the details of the Loan along with all necessary information of the Loan, such as the all-inclusive cost of the Loans (i.e., Annual Percentage Rate) that includes all fees and charges payable by you in relation to the Loan, the recovery mechanism, the Cooling-Off Period, etc., will be made available to you under the Key Fact Statement ("KFS"), on the Digital Portal.
Bank may make modifications to the KFS from time to time as per applicable law, depending on the various transactions and actions that you undertake in relation to the Loan. In the event, if you believe there is a discrepancy in the KFS, you must report the same immediately to us for our consideration, along with all relevant details and documents evidencing the discrepancy and the accurate position.

XII. Credit investigation and reporting

You explicitly consent and authorize the Bank as your authorised representative to receive or obtain your credit information report, including Credit Score ("Credit Information") from: (i) CRIF High Mark Credit Information Services Pvt Ltd. ("CRIF High Mark"), (ii) TransUnion CIBIL Limited ("TransUnion"), (iii) Experian Credit Information Company of India Private Limited (iv) Equifax Credit Information Services Private Limited, and (v) such other credit information company, as the Bank determines, in accordance with the applicable laws.
The Credit Information shall be used only for the purpose of providing you the Digital Merchant Loan and we shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, including any other rules and regulations prescribed thereunder.
You unconditionally consent, authorise and instruct the credit information companies to provide your Credit Information to the Bank, as and when requested by the Bank from time to time.
You also acknowledge and agree that you will not raise any claim or hold the credit information companies or the Bank liable in relation to your Credit Information.
You understand that you have the option to opt-out from the foregoing in relation to the Bank seeking your Credit Information. However, if you opt-out, the Bank may not be able to sanction / provide the Loan or provide the Loan Services.
You also agree to the CRIF High Mark Terms and Conditions, TransUnion Terms and Conditions, Terms and Conditions provided by Experian Credit Information Company of India Private Limited and Equifax Credit Information Services Private Limited as may be modified from time to time on their respective websites.

XIII. Repayment and foreclosure

You agree and acknowledge that Bank will continue to collect and recover all outstanding amount due to the Bank for the Digital Merchant Loan availed by you.
You agree and acknowledge that the repayment frequency whether daily, fortnightly, or monthly shall be determined solely by the Bank and will be made available to you through the Digital portal. You are required to make repayments in accordance with the frequency assigned by the Bank. The Bank shall be entitled to vary/modify the repayment frequency (including increases in the amount of one or more instalment(s) in the event of changes to the interest rate on the Loan.
The Bank will make or will cause to be made various eligible and authorised electronic payment methods available on the Digital Portal or through Bank's business correspondents for you to make repayment of the Loan. These will be made available by Bank on the Digital Portal through contractual arrangements that Bank has with various third parties. You may be redirected to a third-party website to complete the repayment. Neither the Bank makes any representation nor assumes any responsibility in relation to any payment instrument made available on the Digital Portal.
The Bank will not be responsible for any failure to make the payment or any fraud, whether at the payment aggregator's end or any other bank's end) or failure of telecommunication network, that occurs at the time of making the payment.
If you fail to make any repayments in accordance with the Terms, Loan Terms or KFS, the Bank may engage, whether directly or indirectly through its third-party agents, BCs etc. in collection or recovery efforts to recover the amounts from you, without prejudice to any other legal or regulatory remedies available to Bank under applicable laws. The details of the third-party agents or service providers or BCs used by Bank for collection or recovery will be notified to you, from time to time.
You agree and authorize the Bank to send you payment reminders from time-to- time.
The terms of foreclosure of the Loan will be made available on the Digital Portal or in the Loan Terms.

XIV. Mandates

You can set NACH Mandate/ UPI mandate / any other mandates/standing instructions as allowed under Applicable Law and as determined by the Bank ("Mandates") in favour of credits towards the repayments to be made to the Bank. Mandate registration shall be authenticated by you by way of authentication of the Mandate prior to disbursement of Loan.
You hereby agree and understand that the processing of the Mandate is subject to availability of requisite funds in the User's source account.
You hereby agree and understand that Bank shall be processing the Mandate only on the basis of the consent provided by you by virtue of initiation of Mandate from your end prior to disbursement of the Loan.
In case of dishonour of the Mandates for insufficiency of funds in the source account of the User on which the Mandate is created, the Bank shall be entitled to initiate legal proceedings against the User pursuant to Section 25 of the Payment and Settlement System Act, 2007 read in conjunction with Section 138 of the Negotiable Instruments Act, 1881.
For any modifications related to mandate creation, please contact the help centre via the digital portal or email us at help@slicebank.com.

XV. Taxes and other charges

The User shall bear and pay relevant charges, other duties, Goods and Service Tax (GST), other taxes (of any description whatsoever), charges and penalties, including any differential/additional duties and taxes which may be payable pursuant to applicable laws, from time to time, in relation to the Loan.

XVI. Additional indemnity

In addition to your indemnity set-out under the slice Business Terms, you, at your expense, will additionally also defend, indemnify and hold harmless, the Bank , its affiliates, licensees and its officers, directors, agents and employees from and against all claims, demands, damages, losses, costs and expenses, including attorneys' fees and costs, arising from or relating to: (i) any violation by you of the Loan Terms; (ii) any delay or default in making repayments of the Loan provided to you; or (iii) any incorrect or fraudulent Information provided by you to avail the Loan.
All other terms of indemnity set out under the slice Business Terms also apply to the foregoing.

XVII. Additional covenants

You confirm and agree that the amount of the Loan will be utilised for legitimate business purposes only and only for the purpose as mentioned under the Loan Agreement and the amount used for repayments of the Loan will be from legitimate sources only. You also confirm and agree that the transactions with the Bank are not for the purpose of contravention / violation of applicable laws or the evasion of any requirement applicable to you under the applicable laws (including prevention of money laundering laws).
You release the Bank, its affiliates, licensees and its officers, directors, agents and employees, from all responsibility and liability for any loss, damage, claim, demand or liability in any form, in relation to: (i) any unauthorised use of the Loan provided to you by the Bank; (ii) Bank acting in good faith on any instructions received from or on behalf of you or which Bank(in good faith) believes to be from you; or (iii) error, delay, default or inability of Bank to act any of your instructions, including disbursal of the Loan.
Bank may receive additional Information about you, such as Information to help detect fraud and safety issues, from third-party service providers or partners.
User hereby confirm that:
1. no director or senior officer of the Bank is a director, partner, manager or employee of the User and the User is in compliance with all applicable laws including RBI's 'Master Circular on Loans and Advances' as amended from time to time;
2. no director or senior officer of the Bank is a guarantor for the User, and
3. the User is not a relative of a chairman, managing director or director of the Bank or of any subsidiaries or trustees of mutual funds/venture capital funds set up by the Bank or a relative of a senior officer of the Bank. The terms used herein including 'senior officer' or 'relative' shall have the meaning ascribed to them by RBI in its master circular.

XVIII. Restrictions

You hereby agree and confirm that you shall not use the Loan provided by the Bank for following purposes:-

for the purpose of acquisition of / investing in small saving instruments including Kisan Vikas Patras (KVPs).
For any speculative purposes including but not limited to for purchase of gold in any form including primary gold, gold bullion, gold jewellery, gold coins, units of Gold Exchange Traded Funds (ETF) and units of gold Mutual Funds. However, it you are a jeweller, Bank may provide finance for genuine working capital requirements of jewellers. In this regard, you agree to adhere to the RBI guidelines on "Advances for purchase of Gold and lending against Gold Bullion/Coins/Primary gold".
for the purpose of dealing in/against the security of any banned articles including articles possession/ production of which is banned under Wildlife Protection Act 1972.
for setting up of new units consuming/producing the Ozone Depleting Substances (ODS) or in the manufacture of the aerosol units using chlorofluorocarbons (CFC).

You further agree and acknowledge that you are shall not use the Loan provided by the Bank for following business activities:

Gambling
Alcohol
Illegal business activities
Business employing child labour
Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, PCB, wildlife or products regulated under CITES.
Production or trade in weapons and munitions.
Production or trade in alcoholic beverages (excluding rice - beer production and trading and wine).
Production or trade in tobacco (excluding Pan shops) Gambling, casinos and equivalent enterprises.
Production or trade in radioactive materials. This does not apply to the purchase of medical equipment, quality control (measurement) equipment and any equipment where IFC considers the radioactive source to be trivial and/or adequately shielded.
Production or trade in unbounded asbestos fibres. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.
Drift net fishing in the marine environment using nets in excess of 2.5 km. in length.
Production or activities involving harmful or exploitative forms of forced labour/harmful child labour
Commercial logging operations for use in primary tropical moist forest.
Production or trade in wood or other forestry products other than from sustainably managed forests.
Production, trade, storage, or transport of significant volumes of hazardous chemicals, or commercial scale usage of hazardous chemicals. Hazardous chemicals include gasoline, kerosene, and other petroleum products.
Production or activities that impinge on the lands owned, or claimed under adjudication, by Indigenous Peoples, without full documented consent of such people

XIX. Grievance redressal

Any complaint, dispute or grievance in relation to the Loan Services or the Loan should be addressed to the Bank, in accordance with the Bank's Grievance Redressal Policy. Such complaint, dispute or grievance will be handled and addressed as expeditiously as possible, in accordance with the Bank's Grievance Redressal Policy, subject to applicable laws.
The User may also contact the help section on the Digital Portal for any queries, complaints, or grievances or reach out to help@slicebank.com or +91-8048329999

XX. Other Terms

All other terms and conditions under the slice Business Terms and Privacy Policy including but not limited to intellectual property rights, disclaimers and other terms are incorporated herein by reference and will apply to you. Any conflict between the slice Business Terms or Privacy Policy and these Digital Merchant Terms will be resolved in favour of these Digital Merchant Terms.
The Bank reserves the unconditional right to cancel, suspend, the approved Loan at any time without prior notice. Such actions may be taken due to deterioration in your creditworthiness, delayed payments, misuse of the credit facility, submission of false or incomplete information during onboarding, failure to comply with applicable laws or Bank policies, or involvement in any legal or regulatory proceedings. Cancellation or suspension of the credit facility shall not relieve you of any outstanding repayment obligations under the Loan Terms.
To ensure compliance with applicable laws and internal policies, the Bank will conduct periodic reviews of your Loan usage. These reviews will monitor for, misuse of the loan for non-business purposes etc. If irregularities are detected, the Bank may impose restrictions, withdraw features, or terminate the credit facility entirely. However, you remain fully obligated to repay any outstanding amounts owed to the Bank. Failure to do so may result in legal action being initiated against you.
The Bank reserves the unconditional right to cancel, suspend, the approved Loan at any time without prior notice. Such actions may be taken due to deterioration in your creditworthiness, delayed payments, misuse of the credit facility, submission of false or incomplete information during onboarding, failure to comply with applicable laws or Bank policies, or involvement in any legal or regulatory proceedings. Cancellation or suspension of the credit facility shall not relieve you of any outstanding repayment obligations under the Loan Terms.
To ensure compliance with applicable laws and internal policies, the Bank will conduct periodic reviews of your Loan usage. These reviews will monitor for, misuse of the loan for non-business purposes etc. If irregularities are detected, the Bank may impose restrictions, withdraw features, or terminate the credit facility entirely. However, you remain fully obligated to repay any outstanding amounts owed to the Bank. Failure to do so may result in legal action being initiated against you.