These Most Important Terms and Conditions (“MITC”) apply to Indian Bank One co-branded Credit Card issued by Indian Bank (“Bank”) in partnership with its co -branded partner Oneconsumer Services Private Limited (“One co-branded Credit Card”).
Activating your Indian Bank One co-branded Credit Card from the OneCard app or clicking on ‘Submit’ or ‘I Agree’ or any similar tab/icon would mean acceptance of the below terms and conditions by the Cardholder/Cardmember/user (“You” or ‘you”).
The MITCs are in addition to and are to be read along with the detailed Terms and Conditions, and are subject to changes from time to time. The most recent version will always be available on the Bank’s website as well as on OneCard app.
Welcome to a world of convenience!
The OneCard Mobile App📱
You can control the Indian Bank OneCard Credit Card entirely from the powerful OneCard app, some of the actions being:
- Set your App PIN
- Activate your Indian Bank One co-branded Credit Card
- Make Indian Bank One co-branded Credit Card bill payments
- Manage your Virtual Credit Card
- Control your credit and cash withdrawal limits
- Enable online, domestic and international usage
- Set your Indian Bank One co-branded Credit Card PIN (For use at Point of Sale and ATMs)
- Raise disputes or service queries on any aspect of your Indian Bank One co-branded Credit Card
- Control your overlimit transactions
We have ensured that you can do the above transactions only in a secure environment after you authenticate yourself with your preferred authentication mechanism (Fingerprint/PIN). As a cardholder, you should be aware of the features and impact of these transactions as you would be responsible for your actions within the OneCard app.
Virtual Credit Card 💳📲
In addition to the physical Indian Bank One co-branded Credit Card, you will receive as part of the on-boarding process, a virtual rendition of the Indian Bank One co-branded Credit Card which will be available on the OneCard app.
This virtual card is also a VISA powered credit card so that you can use it for any online or mobile application-based transactions or purchases. The security parameters are set as per industry standards.
- FEES AND CHARGES 👀
We believe in keeping your life simple and our charges reflect our endeavor in that direction.
As long as you use the Indian Bank One co-branded Credit Card within your approved credit limit, and pay the full outstanding by the due date, we won’t charge you anything. However, in cases of delays in payments or part payments or using your Indian Bank One co-branded Credit Card beyond the limit, there would be some charges levied.
Here’s a list of these charges:
Goods and Services Tax (GST) is applicable on all fees, interest and other charges and is subject to change as and when notified by the Government of India
* Cash Withdrawal from ATMs
You can use the Indian Bank One co-branded Credit Card to withdraw cash from ATMs in India and/or overseas (except foreign currency transactions in Nepal and Bhutan) in accordance with the compatibility of the Indian Bank One co-branded Credit Card at the said ATM(s). Cash withdrawal charges or ATM withdrawal fee as mentioned above shall be levied on all such withdrawals and would be billed to you in the next/forthcoming Indian Bank One co-branded Credit Card statement.
** Interest Free Period
Interest free period could range from 18 to 48 days.
Illustrative example for the calculation of grace period: For a statement for the period from April 15, 2021 to May 15, 2021 the payment due date would be June 2, 2021. Assuming that you have paid your Total Amount Due of the previous month statement by the payment due date, the grace period would be:
1. For a purchase dated April 24, 2021, the interest-free grace period is from April 24, 2021 to June 2, 2021, i.e. 40 days.
2. For a purchase dated May 14, 2021, the interest-free grace period is from May 14, 2021 to June 2, 2021, i.e. 20 days.
Please remember that this facility of an interest free period will not be available to you if you have not paid the previous month’s outstanding amount in entirety.
*** Interest Rate
Interest will be charged if the Total Amount Due/TAD is not paid by the payment due date. Interest will be charged on the Total Amount Due and on all new transactions (from the transaction date) till such time as the previous outstanding amounts are paid in full.*
At the end of each day, the current balance/outstanding amount will be multiplied by the daily rate to arrive at the daily interest charges, which then get added to your outstanding balance. A simple formula would be as below: ((Number of days X Entire outstanding amount X (Interest rate per month x 12 months))/365 days.
Currently, the Interest rate on unpaid dues is 41.88% per annum, or 3.49% per month, for all Indian Bank One co-branded Credit Card members on their unpaid dues. With effect from 17.05.2024, the interest rate on unpaid dues will be 45% per annum, or 3.75% per month, for all Indian Bank One co-branded Credit Card members on their unpaid dues.
Sample Illustration 1 (dues not paid in full)
Purchase: ₹10,000 on January 15, 2021
Statement Date: February 01, 2021
Total Amount Due: ₹10,000
Payment Due Date: February 18, 2021
Payment Done: ₹500 on February 10, 2021
No other transactions in February.
As per the formula shared above, the interest will be charged as follows:
Goods & Services Tax (GST) at the prevailing rate (currently 18%) will be levied on this interest charged, which is ₹97.75.
This will be added to the outstanding amount so in your statement on March 01, 2021, the Total Amount Due will be ₹10,140.84 (₹9,500 + ₹543.08 + ₹97.75)
Sample Illustration 2 (Dues revolved, fresh purchase)
Statement Date: March 01, 2021
Total Amount Due: ₹9,927.23
Payment Due Date: March 18, 2021
Payment Done: ₹500 on March 10, 2021
New Purchase: ₹5,000 on March 20, 2021
Interest will be charged as follows:
Goods & Services Tax (“GST”) at the prevailing rate (currently 18%) will be levied on this interest charged, which is ₹79.17.
This will be added to the outstanding amount so in your statement on April 01, 2020, the Total Amount Due will be ₹14,910.24 (₹14,427.23 + ₹439.83 + ₹79.17).
Note: These illustrations are meant to be indicative and to show how interest is calculated and charged. Actual amounts can vary depending on specific cases.
The Minimum Amount Due is a variable percentage of Net Debits + Full Over the Limit amount + EMI billed for the month inclusive of EMI interest, fees and taxes + Previous statement unpaid minimum amount dues if any.
The Minimum Amount Due variable percentage can range between (5% - 100%) and will be based upon the cardholder’s repayment status.
The interest rates are subject to changes made by the Bank and Reserve Bank of India from time to time.
**** Late Payment Fee
You are charged a late payment fee (“Late Payment Fee”) if there has been no payment or a payment less than the Minimum Amount Due is received by the Payment Due Date. Late payment fee will be levied based on Cardmember’s outstanding amount as per the below mentioned grid.
Applicable till 16.05.2024
Applicable till 17.05.2024
Example:
Consider the Total Amount Due is ₹5,000 and Payment Due Date is 4 May, 2020. In case the Cardholder does not pay the Minimum Amount Due by the Payment Due Date, a Late Payment Fee of ₹ 250 will be levied on the next bill due date. Late Payment Fee is Rs 250 if the TAD is in the range of Rs 1001-5000.
OverLimit Fee:
Overlimit Fee of 2.5% of the overlimit amount or ₹ 400 (whichever is higher) will be charged till 16.05.2024 every time the Cardmember breaches the assigned credit limit while transacting or on receipt of actual settlement amount from the merchant.
Overlimit Fee of 2.5% of the overlimit amount or ₹ 500 (whichever is higher) will be charged w.e.f 17.05.2024 every time the Cardmember breaches the assigned credit limit while transacting or on receipt of actual settlement amount from the merchant. Transaction over limit will be allowed only if the Cardmember has enabled the overlimit card control from the App.
Forex Markup Fee:
When you use your Indian Bank One co-branded Credit Card to transact in a foreign currency, that transaction amount is converted to Indian Rupees ( “INR” / “₹”) on the settlement date. This could be different from your transaction date.
If the transaction is not in USD ( “US Dollars”), the amount will first be converted to USD, and then the USD amount will be converted to INR as per rate provided by VISA. On this amount, a forex markup fee will be levied, and GST will be applicable on the markup fee. If this transaction is reversed within 30 days, the markup fee and GST will be reversed to the cardholder.
A forex markup fee will also be levied in case of an Indian Rupee (INR) transaction done at a merchant or payment gateway that is based out of India.
Fuel Surcharge Waiver:
When you use the Indian Bank One co-branded Credit Card to pay for fuel domestically, a fuel surcharge is levied by the acquirer (merchant’s bank providing terminal). The surcharge waiver will be lowest of 1% of the transaction amount or actual surcharge levied (excluding of GST). Maximum fuel surcharge waiver will be capped at Rs 400 per calendar month per account for the fuel transactions made on Indian Bank One co-branded Credit Card. Such reversal will not include the applicable tax paid on such purchase. Reward Points will not be accrued on fuel transaction.
EMI Conversion:
In the event, if you wish to convert any of the transactions into equated monthly installment (EMI), the applicable charges and details of these EMIs are governed by the EMI terms and conditions .
B) DRAWAL LIMITS 💸
Your Credit Limit and Cash Withdrawal Limit are both dynamic. Available credit limit is calculated by deducting the utilized limit from the Total Credit Limit. You can request for an increase in your credit limit from the OneCard app if you’re eligible for this option. Once approved, this revised amount would be your new Credit Limit.
Bank reserves the right to recommend a credit limit increase to you based on your Indian Bank One co-branded Credit Card usage, inside the OneCard app. This recommendation and its associated Terms and conditions will be made available to you to consider before accepting the recommendation.
Once you read and agree to the Terms related to credit limit increase displayed inside the OneCard app and provide your consent to increase the limit, the credit limit on your card will be enhanced through the systems. Your acceptance of the limit increase recommendation received through electronic means inside the OneCard app where you specifically validate the limit increase and agree to the MITC will be treated as a consent. Bank and/ or its authorized service providers will keep the digital records of such consent and will treat it as proof of consent in case of any dispute arising later on account of limit increase.
Bank will review your account periodically and reserves the right to decrease your credit limit based on your transaction patterns, repayment behavior and other internal criteria. This will be informed to you via the OneCard app and/or via email and SMS.
“Available Credit Limit” or “Available Cash Limit” is the limit up to which you can make purchases or withdraw cash from an ATM respectively. The Cash Limit is a part of the overall Credit Limit assigned to you though unavailable to cardholders for the time being. An intimation will be shared once it is enabled.
C) BILLING 📅
i) Billing statements (periodicity and mode of sending)
Your billing statement will be generated every month on 16th and can be modified once to 5th, as per your convenience. You can view the statement in the OneCard app. It will contain a break-up of all purchases, repayments, fees, interest charges, refunds and taxes. In case the Indian Bank One co-branded Credit Card was not used in a month, the statement will mention there were no spends in that month. The OneCard app also has an option to view the statement in PDF format, which can then be downloaded. The billing statement will be sent to the registered email ID as well if you opt so. The billing statement shall be deemed to be a demand notice for payment and no separate intimation would be made in this regard.
Billing cycle can be modified only once from the profile section of the OneCard app. Billing modification will be enabled only if the Cardholder has paid his/her Minimum Amount Due of the previous billing cycle.
ii) Minimum Amount Due
When you get your statement (currently on 16th and changed to 5th post onboarding from the OneCard app), you can choose to pay the Total Amount Due (TAD) or the Minimum Amount Due (MAD) as per your statement. The remaining balance can be carried forward to subsequent months. This Minimum Amount Due will be:
i) 5% of the outstanding amount or ₹100 (whichever is greater) PLUS
ii) Previous unpaid minimum amount dues, if any; PLUS
iii) Any amount exceeding the credit limit; PLUS
iv) Entire amount of any installments (EMI) due (if/as applicable)
You can also pay the Total Amount Due or an amount between the Minimum Amount Due and Total Amount Due. Payment should be made before Payment Due Date to avoid Late Payment Charges. Interest will be charged if the total amount due in not paid by the payment due date even if the Minimum Amount Due has been paid.
When you make a payment, it is adjusted in this order:
Billed Cash Advance Fees with Interest and Taxes ⏩ Billed Purchases with Fees, Interest and Taxes (as applicable) ⏩ UnBilled Cash Advance Fees with Interest and Taxes ⏩ UnBilled Purchases with Fees, Interest and Taxes (as applicable).
Within these, the payment is further adjusted as below:
Taxes ⏩ Fees ⏩ Interest ⏩ Purchases.
If Total Amount Due is less than ₹100, Minimum Amount Due would be equal to the Total Amount Due, ie. ₹100.
iii) Refunds/Chargebacks/Reimbursements
You must pay for the transactions billed in the One co-branded Credit Card statement to avoid any additional charges being levied. Any refunds, chargebacks or reimbursements which are not shown in the Indian Bank One co-branded Credit Card Statement, should not be adjusted or reduced by you from the Total Amount Due (TAD) on your own when making the payment. Refunds/chargebacks/reimbursements if any, will be reflected in your Indian Bank One co-branded Credit Card Account, as and when such refunds/chargeback/reimbursement are received and these will be adjusted against your dues in your next Indian Bank One co-branded Credit Card statement.
iv) Method of payment
You can pay the outstanding dues from the OneCard app itself, through the following modes:
a) Debit Card
b) Netbanking
c) UPI
Bank recommends Cardholders to pay their Indian Bank One co-branded Credit Card dues (if any) via above-mentioned payment methods. Any Indian Bank One co-branded Credit Card dues payment made via 3rd party apps or websites, may have a higher TAT for clearance or settlement of dues. Penal, interest or any other charges, as applicable on the card variant, will be applicable if funds are not received by the Bank by the due date. For any queries arising from delayed/non-reflection of settlement of payment dues on Indian Bank One co-branded Credit Card made via 3rd party apps or websites, Cardholders may reach out to the concerned 3rd party apps or websites directly.
You can also make the payment via IMPS or NEFT to the unique Indian Bank One co-branded Credit Card bank account number provided in the app.
(v) Billing disputes resolution
All the contents of the statement will be deemed to be correct and accepted if you do not inform us of any discrepancies within 30 days of the statement date. In the event of billing disputes/discrepancies, we shall investigate and confirm the liability for such transactions. For certain disputes, we may offer a temporary credit during the period of investigation, which may be reversed along with applicable charges subject to outcome of the investigation. GST levied will not be reversed on any dispute on fees and charges or interest.
(vi) Contact particulars of card issuer
Card issuer contact details : https://indianbank.in/departments/quick-contact/
In case you need any help or want to raise a grievance, you can:
📱 Select “Need Help?” from the Profile section in the OneCard Mobile App
📧 Email your query or concern to help@getonecard.app
📞 Call us on our helpline number at 1800-210-9111
🏢 Write in: FPL Technologies Pvt. Ltd., West Bay, Survey No. 278, Hissa No. 4/3 Pallod Farm, Phase II, Baner, Taluka Haveli Baner Gaon, Pune City
Pune – 411045, Maharashtra - India
(vii) Grievance Redressal Escalation
The grievance will be acknowledged via registered email with a unique grievance reference number. Response to the grievance will be offered in 7 working days and the same will be intimated via registered Email.
If you are not satisfied with the response from regular channels, you can send an email to grievances@fplabs.tech and a response will be offered in 7 working days and intimated to the registered email.
Beyond this level, you can reach out to the Bank as per their complaint redressal system at https://apps.indianbank.in/cgrc/frm_cgrs_cust_welcome.aspx
Contact details of grievance redressal official:
General Manager (KYC/AML)
Indian Bank, Head Office,
No.-66, Rajaji Salai
Chennai- 600001
Email- nodalofficer@indianbank.co.in
If the issue remains unresolved beyond 30 days even after reaching out to the above channels, or if the response is unsatisfactory, you may write to the Banking Ombudsman for an independent review. Details of the Banking Ombudsman Scheme are available on the Reserve Bank of India (RBI) website at https://www.rbi.org.in/
viii) Refund of credit balance/excess amount
Any excess credit arising out of refund / failed / reversed transactions will be transferred back to the account added by the cardholder in the One co-branded app beyond a cutoff (1% of credit limit or ₹ 5000 whichever is lower). To adjust the excess credit against purchases in subsequent cycles, cardholder should connect with the customer experience team. Due diligence will be done on any suspicious refund/reversal transactions and on validation processing will be done.
a) if this credit balance/excess amount is to be refunded, the following procedure must be followed by you:
- Cardholder must add the bank account in profile section of the One co-branded app by entering the bank account and IFSC code.
- Any excess refund / reversal amount will be sent only to the added bank account. If cardholder wishes to adjust the excess refund/reversal amount against purchases on the Indian Bank One co-branded Credit Card, Cardholder should connect with the customer experience team.
b) If the credit balance/excess amount is due to an additional repayment, it will be reversed within 7-10 working days into the source account from which the cardholder made the repayment
c) If the Indian Bank One co-branded Credit Card account stands canceled, the credit balance/excess amount will be refunded to the Cardholder’s savings bank account as per the procedure outlined in clause a) above.
d) No interest will be payable on any credit balance/excess amount lying in the Cardholder’s Indian Bank One co-branded Credit Card account.
e) Cardholders are not permitted to make excess payment into their Indian Bank One co-branded Credit Card account to artificially enhance their sanctioned credit limit for honouring high value transactions. In case there is a need for enhancement of credit limit, a request can be placed separately for that.
D) DEFAULT AND CIRCUMSTANCES 😩
i) Procedure including notice period for reporting a cardholder as defaulter:
If you do not pay at least the Minimum Amount Due even 3 days after the Payment Due Date, the Indian Bank One co-branded Credit Card will be reported as delinquent by the Bank to the Credit Information Companies (“CICs”), authorized by the Reserve Bank of India. Non-payment of Minimum Amount Due may also lead to discontinuation of the credit card services.
ii) Procedure for withdrawal of default report and the period within which the default report would be withdrawn after settlement of dues:
Once reported to the CICs there is no withdrawal of the report. However, if dues are settled by you, this information will be provided to the Bank for sharing with CICs in the subsequent month.
iii) Recovery procedure in case of default:
In the event of a default, you will be sent reminders by any of the following methods such as SMS, email, telephone, WhatsApp & post for settlement of any outstanding dues. If no response is received from you via regular channels, third parties may be engaged to remind, follow up and collect dues. A message may be left with your spouse / parent / other direct adult family member / secretary / accountant or other colleague, as available, at your residence / office / phone. Any such third party appointed shall adhere fully to the code of conduct on debt collection.
(iv) Recovery of dues in case of accidental of Cardholder:
In case of accidental death of the Primary Cardholder, the complete outstanding balance (including unbilled transactions) will become immediately due and payable to the Bank. Bank will follow up with the Cardholder’s legal heirs, informing them about the outstanding amount and requesting them to clear these dues.
(v) Recovery in case of natural death of Cardholder
Recovery of dues in case of natural death / permanent in capacitance of the cardholder, the complete outstanding balance (Including unbilled transactions) will become immediately due and payable to the Bank. The Bank will be entitled to recover the total outstanding from the estate of the cardholder. The Bank will also be entitled to recover the total outstanding from Legal heirs /monies / deposits / accounts maintained in the cardholder’s name with any financial institution and the card members assigns rights of recovery of his dues directly to the Bank.
E) TERMINATION/REVOCATION OF CARD MEMBERSHIP 😢
i) Procedure for surrender of card by cardholder - due notice –
a) You can close your Indian Bank One co-branded Credit Card account any time by calling the Customer Care team at 1800 210 9111 or by writing an email at help@getonecard.app. The entire card outstanding dues and loans / EMI facilities linked to your Indian Bank One co-branded Credit Card (if applicable and/or availed of) will immediately become due. Any Indian Bank One co-branded Credit Card closure request will be honored within seven working days, subject to payment of all dues by the Cardholder.
b) Any refund/reversal that is received after the Indian Bank One co-branded Credit Card closure will be intimated to you and refunded electronically to the account number that is added in profile section of the One co-branded app after verifying the ownership.
c) Once the virtual Indian Bank One co-branded Credit Card is activated, the physical Indian Bank One co-branded Credit Card will be sent to you. If you choose to cancel Indian Bank One co-branded Credit Card membership within 6 months of activating the virtual card, a charge of ₹ 3,000 will be levied. This would be added to the overall outstanding amount and the Indian Bank One co-branded Credit Card account will be closed once all dues are paid and recorded in the Bank’s system.
d) Upon termination/revocation of Indian Bank One co-branded Credit Card membership for any reason whatsoever, whether at the instance of the cardmember or otherwise the Bank, the cardmember shall remain liable for all charges incurred by the use of the Indian Bank One co-branded Credit Card.
e) You specifically acknowledge that once your Indian Bank One co-branded Credit Card account is closed, the privileges (including but not limited to all benefits and services accrued, reward points not redeemed etc) of the Indian Bank One co-branded Credit Card stand nullified. Reinstatement of the same is neither automatic nor attendant and will take place solely at the discretion of the Bank.
f) For avoiding misuse, it is advised to destroy the Indian Bank One co-branded Credit Card ensuring that the hologram, magnetic strip and chip are destroyed permanently.
g) Your Indian Bank One co-branded Credit Card account will be closed only once the Bank receives the payment of all amounts due and outstanding in respect of the said Indian Bank One co-branded Credit Card account.
h) You can call the customer care via phone on 1800 210 9111 or raise a ticket in the OneCard app for initiating closure of card subject to the outstanding dues being cleared.
ii) Procedure for revocation of Indian Bank One co-branded Credit Card membership
Your access to your Indian Bank One co-branded Credit Card may be cancelled or revoked at any time without prior notice, if we consider it necessary for business or security reasons, which may include but are not limited to:
a) Delayed or dishonoured payments, improper use of credit card (in violation of Reserve Bank of India and foreign exchange rules).
b) Misleading or incorrect information / documents given along with Your Indian Bank One co-branded Credit Card application.
c) Failure to furnish information or documents as required under the Know Your Customer (KYC)/ Anti Money Laundering (AML)/ Combating the Financing of Terrorism (CFT) guidelines.
d) Involvement in any civil litigation or criminal offence / proceedings by any authority, court of law or professional body or association.
e) Changes in credit policy due to prevailing conditions / unforeseen circumstances.
f) Credit scores below the level as fixed from time to time.
You may continue to get your Indian Bank One co-branded Credit Card statements with actual outstanding, even after closure of the Indian Bank One co-branded Credit Card account.
In case your Indian Bank One co-branded Credit Card has not been used for more than one year then we will notify you of the dormancy within 30 days. If the Indian Bank One co-branded Credit Card is still not used or no reply is received for the continuation of Indian Bank One co-branded Credit Card, Indian Bank One co-branded Credit Card will be closed and reported to the bureau, subject to payment of all dues by the cardholder.
F) LOSS/THEFT/MISUSE OF CARD 😠
i) Procedure to be followed in case of loss/theft/misuse of Indian Bank One co-branded Credit Card
In case your Indian Bank One co-branded Credit Card is lost, stolen, misplaced, or if the Indian Bank One co-branded Credit Card PIN has been compromised, report this immediately from the OneCard Mobile App or via phone on 1800-210-9111 or email us on help@getonecard.app.
If your Indian Bank One co-branded Credit Card is misplaced, you can lock the Indian Bank One co-branded Credit Card temporarily from the OneCard app.
If your Indian Bank One co-branded Credit Card is lost or stolen, you can block the Indian Bank One co-branded Credit Card from the OneCard app and a new card will be sent to you. You can also reset the Indian Bank One co-branded Credit Card PIN from the OneCard app.
In case the mobile phone with the OneCard app is lost or stolen, inform us immediately by calling on 1800-210-9111. Please also report the theft of the Indian Bank One co-branded Credit Card or phone to the police by lodging a First Information Report (FIR) and share a copy of that with us when requested.
If you wish to change the registered mobile number or e-mail address, you can intimate us by sending an email to help@getonecard.app.
ii) Liability of cardholder in case of (i) above is in terms of RBI circular ref. DBR.No.Leg.BC.78/09.07.005/2017-18 dated July 6, 2017 on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’ as updated from time to time.
A. You will be entitled for Zero Liability where the unauthorized transactions occur in the following events:
1.Contributory Fraud/Negligence/Deficiency on our part.
2.Third Party breach where the deficiency lies elsewhere in the system and you notify us within 3 working days of receiving the communication from us regarding the unauthorized transaction.
B. You shall be liable for the loss occurring due to unauthorized transactions in the following cases:
1.In cases where the loss is due to your negligence such as where you have shared the payment credentials, you will bear the entire loss until you report the unauthorized transaction to us. Any loss occurring after the reporting of the unauthorized transaction shall be borne by us.
2.In cases where the responsibility of the unauthorized electronic banking transaction lies neither with us nor you, but lies elsewhere in the system and when there is a delay( of 4-7 working days after receiving communication from us) on your part in notifying us of such a transaction, your per transaction liability shall be limited to the transaction value or the amount whichever is lower as mentioned in the table below (as per RBI)
3.Further, if the delay in reporting by you is beyond 7 working days, the customer liability shall be determined as per the Bank’s Board approved policy.
| Maximum Liability of the customer | |
|---|---|
| Reporting time of fraudulent transactions from date of receiving communication | Customer Liability |
| Within 3 working days | Zero |
| Between 4-7 working days | Credit Card limit <= ₹ 500000 : Maximum liability <= ₹ 10000 Credit Card limit > ₹ 500000 : Maximum liability <= ₹ 25000 |
| More than 7 working days | As per Bank’s approved policy |
NEVER share your OneCard app PIN and credit card PIN with anyone!
G) DISCLOSURES 📣
i) Bank will share credit information including but not limited to the current balance, loans / EMI facilities linked to the Indian Bank One co-branded Credit Card (if applicable and/or availed of), balance outstanding on the Indian Bank One co-branded Credit Card / loan, payment history etc. with CICs authorized by Reserve Bank of India, as per the Credit Information Companies (Regulation) Act, 2005.
ii) Certain activities in relation to your Indian Bank One co-branded Credit Card are outsourced by the Bank to the FPL Technologies Private Limited (“FPL”) which is an authorised outsourced technology service provider of the Bank. FPL manages the Indian Bank One co-branded Credit Card for the Bank as authorised by the Bank.
iii) All references to “we” in these Terms shall mean and include the Bank, Oneconsumer and/ or Bank’s authorised service providers such as FPL Technologies Private Limited (FPL)
iv) Banks have all responsibility for adherence to all regulatory rules, directions, and guidelines including guidelines on outsourcing of financial services by banks or non-banking financial companies (“NBFCs”) issued by the Reserve Bank of India. We do not provide any services in contravention of the guideline on outsourcing of financial services by banks or NBFCs issued by the Reserve Bank of India.
v) The Bank will provide particulars of the Indian Bank One co-branded Credit Card account to the statutory authorities, as needed.
vi) Transaction alerts received may not be assumed as a confirmation of transaction completion.
vii) If you do not wish to receive any marketing calls/emails from us for other products, you can register for the Do Not Disturb service and also unsubscribe from promotional emails by clicking on the link which will be provided in such emails.
viii) You will continue to receive communications about transactions and core features of Indian Bank One co-branded Credit Card. A copy of this MITC document, Terms and Conditions, and FAQ will always be available on www.getonecard.app.
ix) The arrangement between Oneconsumer Services Private Limited and the Bank for issuance of the co-branded credit card may involve sharing of revenues in respect of such co-brand credit card.
H) Grievance Redressal and Compensation Framework
i) Grievance redressal and escalation process and timeline for redressal of grievance
a) Timeline for redressal of grievance
If your grievance is not satisfactorily resolved after reaching out to grievances@fplabs.tech, you can reach out to the bank at https://apps.indianbank.in/cgrc/frm_cgrs_cust_welcome.aspx
If the issue remains unresolved beyond 30 days even after reaching out to the above channels, or if the response is unsatisfactory, you may write to the Banking Ombudsman for an independent review. Details of the Banking Ombudsman Scheme are available on the Reserve Bank of India website at https://www.rbi.org.in/
ii) Below compensation framework will be followed in case of delay in resolving
iii) Contact details of the Indian Bank One co-branded Credit Card-issuer are as following
Card issuer contact details : https://indianbank.in/departments/quick-contact/
📧 Email your query or concern to help@getonecard.app
📞 Call us on our helpline number at 1800-210-9111
🏢 Write to us or visit us at: FPL Technologies Private Limited, West Bay, Survey No. 278, Hissa No. 4/3 Pallod Farm, Phase II, Baner, Taluka Haveli Baner Gaon, Pune City
Pune – 411045, Maharashtra - India
If you are not satisfied with the response from regular channels, you can send an email to grievances@fplabs.tech
I) REWARD POINTS 🎁
By using your Indian Bank One co-branded Credit Card, you are automatically enrolled in the OneCard Rewards Programme. When you transact with your Indian Bank One co-branded Credit Card, reward points are credited to your Indian Bank One co-branded Credit Card account depending on the transaction value and the purchase category. These reward points can be accumulated and further used to repay other purchases or redeemed for exciting offers shown in the OneCard app from time to time. Please refer to the terms and conditions to view further details on the rewards programme.
J) RuPay Credit Card
Activating your RuPay virtual card from the OneCard app or clicking on ‘Submit’ or ‘I Agree’ or any similar tab/icon would mean acceptance of the below terms and conditions by you.
1. The functionality of the virtual RuPay Credit card will be made available to the Cardholders who are eligible and satisfy the criteria for the same.
2. This provision of the RuPay Credit Card is made at the sole discretion of the Bank and us and the offerings may be altered/ paused/ discontinued by Bank at any time, with or without prior intimation to you.
Terms of Service
The Indian Bank One RuPay Credit Card would be referred to as the “Floater Card” and the earlier issued card as the “Existing Card”.
1. Indian Bank One Rupay Credit card will be issued as a virtual card which will be accessible via the OneCard app.
2. The combined credit limit shared between the Floater Card & the Existing card would be the same as the limit already assigned to you on the existing credit card
3. The statement date shall continue to be the same as of the Existing Card along with the applicability of all terms and conditions of the Existing Card and only one consolidated statement will be generated for both the Existing Card and the Floater Card
4. The cardholder shall make a unified repayment through the App for such consolidated statements for both the Existing and Floater Card.
5. POS transactions shall be disabled on the Virtual RuPay Card.
7. Reward program for the Rupay Virtual card will be the same as your existing Indian Bank One co-branded Credit Card.
8. If you choose to close/cancel your RuPay virtual card, you will not be able to reapply for it, except if the closure is due to any fraudulent transactions.
9. Interest rates, penal charges and any other fees/ incidental fee related to the usage of the card shall continue to remain the same as mentioned in the existing MITC and Key Facts Statement, to the extent applicable to the Floater Card.
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Floater Card will have the same mobile number linked as in the Existing card
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RuPay Floater Credit Card is restricted for usage on the following MCC(s):
| Sr no. | MCC code (if applicable) | Nature |
|---|---|---|
| 1 | 0000 | P2P (Peer to Peer) |
| 2 | 7407 | P2PM (Peer to Peer Merchant) |
| 3 | 7409 | Digital account opening |
| 4 | 7408 | Lending platform |
| 5 | 6010 | Cash withdrawal at merchant |
| 6 | NA | Cash withdrawal at ATM |
| 7 | NA | ERUPI (UPI voucher for government subsidy etc) |
| 8 | 6211 | IPO (Purpose code: 01) |
| 9 | NA | Foreign Inward Remittances |
| 10 | NA | Mutual Funds |
| 11 | 4829 | Wire transfers/ money orders |
| 12 | 5413 | Credit Card bill payment |
| 13 | 6010 | Financial institutions - manual cash disbursements |
| 14 | 6011 | Financial institutions - automated cash disbursements |
| 15 | 6012 | Financial institutions - merchandise and services |
| 16 | 6013 | Cash withdrawal thru ICCW (interoperable cardless cash withdrawal) |
| 17 | 6051 | Non-financial institutions - foreign currency, money orders (not wire transfer), scrip and travelers’ checks |
| 18 | 6211 | Securities - brokers and dealers/IPO |
| 19 | 7322 | Debt collection agencies |
| 20 | 7800 | Govt Owned Lottery |
| 21 | 7801 | Govt Licensed Casinos |
| 22 | 7802 | Govt Licensed Dog/Horse racing |
| 23 | 7995 | Betting, including lottery tickets, casino gaming chips, off-track betting and wagers at race tracks |
| 24 | 9406 | Govt owned Lottery |
UPI on RuPay Credit Card
· The functionality of RuPay Credit card on UPI will be made available to the Indian Bank One Credit Card Users who satisfy the criteria.
· This provision is made at our sole discretion and the offerings may be altered/ paused/ discontinued at any time, with or without prior intimation to You.
Terms of Service
1. This facility will be provided, subject to approval of Indian Bank One RuPay Credit Card at Your request.
2. The Cardholder’s primary credit card mobile number will be used for the setup of the Indian Bank One Rupay Credit Card and will be used for UPI based transactions
3. Cardholders will have to set a 6-digit UPI PIN to activate UPI functionality on the Indian Bank One RuPay Credit Card and all UPI payments will be authenticated using the 6-digit UPI PIN. The 6-digit Credit Card PIN will not be considered for authenticating UPI transactions.
4. Activation of RuPay Virtual Credit Card will be considered as customer consent for enabling UPI on the card.
5. Cardholder can only make P2M transactions allowed on the RuPay network.
6. Transactions on P2P, P2PM, digital account opening, lending platform, cash withdrawal at merchant, cash withdrawal at ATM, ERUPI, IPO, Foreign Inward Remittances, Mutual Funds and any other categories as restricted by the Bank and the RBI are not allowed.
7. UPI on Credit Card will be subject to both credit card limits provided to You by Indian Bank and the existing UPI transaction limits as set by NPCI for all UPI transactions (whichever is lower).
8. All fees, finance charges, surcharges or mark-ups applicable on Credit Card transactions will be applicable on Credit Card on UPI transactions too.
9. Cash withdrawal will not be allowed from Credit Card on UPI transactions
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Any transaction done against a Credit Card on UPI will be deducted from your existing credit card limit.
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Indian Bank One RuPay Credit Card on UPI cannot be set as a default option to receive funds
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In case of renewal or replacement of the Indian Bank One RuPay Credit Card, the Cardholder has to re-register on the UPI App with updated Credit Card details
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In case of device change, the Cardholder has to re-register for a credit card on the UPI app with the same SIM.
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Transaction limit on UPI using the issued Indian Bank RuPay Credit Card would be:
- Amount limit per card per day can be up to UPI limit (i.e, 1 lakh per day, 2 lakhs for some special MCC codes i.e 5960, 6300 & 6529 - Insurance & up to 5 lakhs for verified merchants under categories aligned to hospitals & educational services with MCC Codes for hospitals being 8011, 8021, 8031, 8041, 8042, 8049, 8050, 8062, 8071, 8099 & 0742 & for educational institutions being 8211, 8220, 8241, 8244, 8249 & 8299)
- Amount limit per card is ₹5,000/day (24 hours cycle) for the 1st day after 1st successful transaction & including first transaction
K) Classification as Special Mention Account (SMA) and Non-Performing Asset (NPA)
With reference to the financial assistance/credit facility in the form of Indian Bank One co-branded Credit Card being availed by me on the date hereof issued by Indian Bank, I hereby confirm having understood the concepts and illustrative examples (as detailed below) relating to due dates, classification of borrower accounts as Special Mention Account (“SMA”) or Non Performing Asset (“NPA”) in the course of the conduct of the accounts.
Concepts / clarifications / Illustrative examples on due dates and specification of SMA / NPA classification dates.
Dues: Dues mean, the principal / interest / any charges levied on the loan account which are payable within the period stipulated as per the terms of sanction of the credit facility.
Overdue: Overdue mean, the principal / interest / any charges levied on the loan account which are payable but have not been paid 13 within the period stipulated as per the terms of sanction of the credit facility. In other words, any amount due to the Bank under any credit facility is ‘overdue’ if it is not paid on the due date fixed by the Bank.
Lending institution (i.e. Indian Bank) will recognize the incipient stress in loan accounts, immediately on default, by classifying them as SMA. The basis of classification of SMA category shall be as follows:
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Non-performing Asset:
I. A credit card account will be treated as non-performing asset if the minimum amount due, as mentioned in the statement, is not paid fully within 90 days from the payment due date mentioned in the statement.
II. Illustrative movement of an account to SMA category to NPA category based on delay /nonpayment of dues and subsequent upgradation to standard category at day end process:
| Due date of payment |
Payment Date | Payment Covers | Age of oldest dues in days |
SMA / NPA Categorization |
SMA since Date / SMA class date |
NPA Categorization |
NPA Date |
|---|---|---|---|---|---|---|---|
| 01.01.2022 | 01.01.2022 | Entire dues upto 01.01.2022 | 0 | NIL | NA | NA | NA |
| 01.02.2022 | 01.02.2022 | Partly paid dues of 01.02.2022 | 1 | SMA 0 | 01.02.2022 | NA | NA |
| 01.02.2022 | 02.02.2022 | Partly paid dues of 01.02.2022 | 2 | SMA 0 | 01.02.2022 | NA | NA |
| 01.03.2022 | Dues of 01.02.2022 not fully paid 01.03.2022 is also due at EOD 01.03.2022 |
29 | SMA 0 | 01.02.2022 | NA | NA | |
| Dues of 01.02.2022 fully paid. Due for 01.03.2022 not paid at EOD 01.03.2022 |
1 | SMA 0 | 01.03.2022 | NA | NA | ||
| No payment of full dues of 01.02.2022 and 01.03.2022 at EOD 03.03.2022 | 31 | SMA 1 | 01.02.2022/03.03.2022 | NA | NA | ||
| Dues of 01.02.2022 fully paid. Duefor 01.03.2022 not fully paid at EOD 01.03.2022 | 1 | SMA 0 | 01.03.2022 | NA | NA | ||
| 01.04.2022 | No payment of dues of 01.02.2022, 01.03.2022 and amount due on 01.4.2022 at EOD 01.04.2022 |
60 | SMA 1 | 01.02.2022 / 03.03.2022 | NA | NA | |
| No payment of dues of 01.02.2022 till 01.04.2022 at EOD 02.04.2022 | 61 | SMA 2 | 01.02.2022 / 02.04.2022 | NA | NA | ||
| 01.05.2022 | No payment of dues of 01.02.2022 till 01.05.2022 at EOD 01.05.2022 |
90 | SMA 2 | 01.02.2022 / 02.04.2022 |
NA | NA | |
| No payment of dues of 01.02.2022 till 01.05.22 at EOD 02.05.2022 |
91 | NPA | NA | NPA | 2.05.2022 | ||
| 01.06.2022 | 01.06.2022 | Fully Paid dues of 01.02.2022 at EOD 01.06.2022 |
93 | NPA | NA | NPA | 2.05.2022 |
| 01.07.2022 | 01.07.2022 | Paid entire dues 01.03.2022 & 01.04.2022 atEOD 01.07.2022 | 62 | NPA | NA | NPA | 2.05.2022 |
| 01.08.2022 | 01.08.2022 | Paid entire dues of 01.05.2022 & 01.06.2022 at EOD 01.08.2022 |
32 | NPA | NA | NPA | 2.05.2022 |
| 01.09.2022 | 01.09.2022 | Paid entire dues of 01.07.2022 & 01.08.2022 at EOD 01.09.2022 but not paid the dues of 01.09.2022 |
1 | NPA | NA | NPA | 2.05.2022 |
| 01.10.2022 | 01.10.2022 | Paid entire dues of 01.09.2022 & 01.10.2022 |
0 | Standard account with no overdues |
NA | NA | STD from 01.10.2022 |
l/we also understand that the aforesaid few examples are illustrative and not exhaustive in nature covering common scenarios, and that, the IRACP norms and clarifications provided by RBI on the subjects referred above will prevail.
IMPORTANT REGULATORY INFORMATION
i) Your Indian Bank One co-branded Credit Card is valid for use both in India as well as abroad. It is, however, not valid for making foreign currency transactions in Nepal and Bhutan.
ii) Foreign exchange trading through Internet trading portals is not permitted. In the event of any violations or failure to comply, you may be liable for penal action and/or closure of the Indian Bank One co-branded Credit Card.
Declaration And Consent
I hereby acknowledge that I have applied for the Indian Bank One co-branded Credit Card issued by the Bank in partnership with Oneconsumer Services Private Limited. I declare that I am a resident Indian over 18 years of age. I declare that all the particulars and information given as part of application are true, correct and complete and that Bank and/or its authorized service providers are entitled to verify these details directly or through any third-party agent. I further understand that Bank and/or its authorized service providers may at its sole discretion sanction or decline this application for the Indian Bank One co-branded Credit Card, without assigning any reason whatsoever. I undertake to inform Bank and/or its authorized service providers regarding any change in my application credentials originally submitted and to provide any further information that they may require to process the Application and/or continued usage on the Indian Bank One co-branded Credit Card.
I hereby authorize and give express consent to Indian Bank One co-branded Credit Card (including the Bank and FPL) to disclose, without notice to me, my Personally Identifiable Information (PII) and other Non-Personally Identifiable Information (NII) furnished by me in any application form(s) or related documents executed or furnished by me in relation to the Indian Bank One co-branded Credit Card to other branches of the Bank, subsidiaries or affiliates of Bank, credit information bureaus, rating agencies, service providers, service partners (including any insurance partners) other banks or financial institution, governmental/ regulatory authorities or third parties for KYC verification, bank account statement verification, credit risk analysis, or for other related purposes that Bank and/or its authorized service providers may deem fit to process my application and/or for continued usage of the Bank and/or its authorized service providers and/ or for any other marketing objectives. I hereby specifically waive the privilege of privacy and privity of contract.