Terms & Conditions

1. LOAN
d) “Penal Charges” – Borrower is aware that penal charges means charges which
a) The loan (“Loan”) provided by the Bank shall be an amount as stated in
the Bank shall impose for delay in payments by the Borrower. Said charges shall
the Sanction Letter.
be over and above the applicable charges and interest rates as specified in the
b) The Borrower understands and confirms the disbursement of Loan by
Schedule of Charges/Key Fact Statement and the same may be amended from time
IDFC First Bank Limited formerly known as IDFC Bank Limited ("the Bank") on
to time by the Bank. It is further specified that penal charges as set out in the
the Borrower’s behalf to the Dealer’s account, as per the details provided by the
schedule are without prejudice to the Bank’s right to recall the entire loan or to
Borrower. The Loan may be disbursed in one lump sum or in installments as may
initiate any recovery action.
be decided by the Bank and the Loan shall be repaid by the Borrower as per the T
& C and Sanction Letter.
5. PRE-PAYMENT
c) The borrower can't sell the product until the loan is paid. If the borrower
The Borrower shall prepay the entire Loan amount in full, subject to the payments
intends to sell the product then he/ she should foreclose the loan first before selling
of prepayment charges on the outstanding balance, with prior written request from
the product.
the Bank, b) The Bank shall be at liberty to appropriate amount so prepaid towards
d) The Sanction letter shall be read in conjunction with the provisions of this
prepayment of charges, interest, penal charges, other charges payable under the T
Terms and Conditions ("TnC") and in the event of any conflict in the terms of the
& C and then towards the Loan amount or in any other manner that the Bank may
aforesaid sanction letter and this Terms and Conditions, the terms of this Terms
deem fit and proper in its sole and absolute discretion.
and Conditions will prevail over the said Sanction Letter, also the Bank shall be
entitled to alter/vary/modify the terms and conditions of this Agreement or the
6. CONDITIONS
Sanction Letter at any time by notice in writing to the Borrower or notifying the
The Borrower shall, prior to the disbursal of the Loan, have utilized his/her own
same on its website, either on its own accord or as may be required by any
contribution to the cost of the Product less Loan availed from the Bank.
Statutory Authority
The Borrower shall not transfer the Product to any third party and maintain the
Product in good order and condition during the currency of the Loan.
2. RATE OF INTEREST
The Borrower shall upon change of residence immediately intimate to the Bank.
a) The Borrower specifically agrees that the Loan shall carry interest at the
The Borrower shall ensure that no part of the Loan is utilized for any illegal,
rate specified in Sanction Letter.
immoral activities, gambling, lottery, speculative activities in nature.
b) The Bank shall be entitled to revise the rate of interest from time to time
as per its policy and/or applicable laws and regulations, during the tenor of the
7. BORROWER’S REPRESENTATIONS & WARRANTIES
Loan at its discretion. the Bank will inform the Borrower about the variation in the
a) All the documents provided by the Borrower are valid and binding.
Rate of Interest, if any.
b) The Borrower does not violate any terms and conditions under any
c) Any non-presentation/delayed presentation of the cheque due to any
existing agreement entered into by the Borrower with any third party, by availing
reason will not affect the liability of the Borrower to pay the EMIs on time. The
the Loan from the Bank.
Borrower shall replace the cheques/issue fresh cheques if so required by the Bank.
c) There is no action, suit, proceeding or investigation pending to the
d) The Borrower may swap the PDCs with the consent from the Bank and on
knowledge of the Borrower before any court of law or any competent authority
paying the Bank cheque swap charges.
which might have a material effect on the Borrower financials and/or might put
into question the validity, enforceability or performance of the T & C.
3. TAXES
d) The Borrower agrees and accepts the entire risk related to the transaction
a) The Borrower agrees to pay to the Bank, any and all taxes, charges, duties
the Borrower had with the Dealer like non-performance, non-delivery, breach of
as may be levied including stamp duty related to the Product, T & C and the Loan.
warranty or supply of inferior or damaged Product and the Bank is not responsible
The Borrower also agrees that the EMI shall automatically increase on account of
for the same. In any such eventuality, the Borrower’ liability to repay the Loan
any incremental tax or levy.
disbursed by the Bank will be in total and continuous.
e) The Loan is repayable on demand made by the Bank with all the accrued
4. PAYMENTS
interest and other charges.
a) The Borrower agrees to repay the Loan to the Bank by EMI, on a monthly
basis, on the scheduled due date, as per the mode of payment, specified in the
8. SECURITY:
Sanction Letter. The Borrower agrees that timely payment of EMI is the essence of
The Loan, interest, additional charges, fees and all other charges including but
the Loan.
notlimited to the Borrower’s outstanding payable to the Bank shall be secured by
b) The repayment of the Loan is by Post Dated Cheques (“PDCs”) or other
the Product on which the Bank shall have first and exclusive charge.
mode of payment, the Borrower undertakes to honour all payments on the
scheduled due dates and shall not instruct their bankers for stop payment. The
9. EVENTS OF DEFAULT
Borrower shall be liable to pay cheque bounce charges for each cheque
a) The Borrower commits any default, breach, misrepresentation under this T
bounce/dishonour/other mode charges
& C and/ or any other loan with the Bank.
c) The Borrower understands and agrees to the Bank method of calculating
b) The Product is damaged, stolen, confiscated, attached/taken into custody
Equated Monthly Instalments (“EMI”) and agrees not to dispute the same, at any
by any official authority, subject to any proceedings, or is disclaimed, endangered,
time in future, d) The Borrower shall pay a non-refundable Processing Fee with
c) The Borrower dies, becomes insolvent/ compounds with his/her creditors
upfront EMI as specified in the Sanction Letter OR non-refundable Processing Fee
or permits any attachment or confiscation or other process against any of his assets
with upfront EMI shall be deducted by the Bank e) The Borrower has executed by
or properties,
way of collateral security, Demand Promissory Note (DPN) for the repayment of
the Loan along with interest thereon.
 from Bank, discontinue data and outgoing call services of your mobile connection
until all due payments are regularized. Upon discontinuation of specified
d) Any circumstances in the opinion of the Bank that jeopardizes the Bank’s
telecommunication services, telecom operator may activate pre-call
interest or security.
announcements on your mobile connection. Borrower will / may be notified
through any available means such as SMS, notifications and outbound calls
10. UNDERTAKING
regarding the consequence of discontinuation of telecommunications services.
a) The Borrower shall comply with applicable laws.
Borrower cannot combine or avail any other bundled telecommunication offer
b) The Borrower shall use the Product for personal use only.
during the activation and subsistence of Telecom Offer tenure.
14.3 The Borrower agrees that the Bank may be required to disclose
11. REMEDIES Borrower personal and financial information to the statutory authorities in
a) Upon the occurrence of an Event of Default, the Borrower’s outstanding connection with any legal process that may be initiated by such authorities in
Loan shall forthwith become payable to the Bank. The Bank may recall the Loan accordance with applicable laws.
with additional charges. The Borrower, undertake to forthwith surrender to the 14.4 The Bank discourages the Borrower from sending or posting to the
Bank/ its representatives/agencies, the Product or any other product of such value Bank’s web site any information that the Borrower considers to be confidential or
as approved by the Bank. The Bank/its representatives/ agencies shall be entitled proprietary. Please note that if the Borrower do send or post any such information
to take possession and/or dispose the same and adjust the proceeds against the total or material, the Bank will assume that it is not confidential. By sending or posting
dues. If there is any deficit, the same shall be made good to the Bank by the any information or material, the Borrower grant the Bank an unrestricted,
Borrower, irrevocable license to use, reproduce, display, perform, modify, transmit and
b) The Bank shall be entitled to take recourse to other legal remedies (civil distribute those materials or information, and the Borrower agrees that the Bank is
and criminal) under appropriate provisions of the laws. free to use any ideas, concepts, know-how or techniques that the Borrower sends
c) The Borrower shall be liable for payment of all legal and other costs and or post for any purpose on this web site.
expenses incurred in the exercise of the Bank’s remedies, including repossession 14.5 The Borrower agrees that the Bank may also share Borrower
of the Product/ any asset and recovery of Loan amount. information to provide Borrowers with superior services and a range of offers. The
Bank may use this information to advise Borrowers about products, services and
12. CLOSURE OF LOAN other marketing materials, which the Bank think may be of interest to Borrowers.
Upon the Borrower's paying to the Bank all EMIs on the due dates or Loan amount The Bank further reserves the right to disclose the information to any third party if
and all other charges payable by the Borrower to the Bank under this T&C the disclosure of the same is for getting any additional service, products which
may be beneficial to the Borrower, as per the sole assessment and discretion of
13. NOTICE The Bank.
Any notice or request required or permitted to be given or made under this 14.6 The Bank will limit the collection and use of Borrower information only
Agreement to the Bank or to Borrower shall be given in writing or post. Such on a need-to-know basis to deliver better service to the Borrowers. The Bank may
notice or request shall be deemed to have been duly on made when it shall be use and share the information provided by the Borrowers with its Affiliates and
delivered by hand, e-mail or any other electronic mode , telegram to the party to third parties for providing services and any service-related activities such as
which it is required or permitted to be given or made at such party’s addresses. collecting subscription fees for such services, and notifying or contacting the
Borrowers regarding any problem with, or the expiration of, such services. In this
14.1. CONSENT OF DISCLOSURE/ PRIVACY regard, it may be necessary to disclose the Borrower information to one or more
The Borrower have no objection for the disclosure by the Bank of all or any such: agents and contractors of the Bank and their sub-contractors, but such agents,
(a) information, obligations and data relating to the Borrower, Loan, T & C, contractors, and sub-contractors will be required to agree to use the information
Products/assets furnished by the Borrower including other credit facility granted/to obtained from the Bank only for the said purposes. The Borrower authorises the
be granted by the Bank; Bank to exchange, share, part with all information related to the details and
(b) information, data relating to default, if any, committed by the Borrower transaction history of the Borrower to its Affiliates/ other banks/ financial
in discharge of its obligations to the Credit Information Company ( "CIC") or institutions/ credit bureaus/ agencies/ participation in any telecommunication or
agency authorized by the Reserve Bank of India. CIC and/ or other agency so electronic clearing network as may be required by law, customary practice, credit
authorized may use and/or process the aforesaid information and data in any reporting, statistical analysis and credit scoring, verification or risk management or
manner as deemed fit by them. CIC and/or other agency may furnish for any of the aforesaid purposes and shall not hold the Bank liable for use or
consideration, the processed information and data or products thereof prepared by disclosure of this information. The Bank values relationship with Borrower and
them, to the Bank and other credit guarantors or registered users, as may be will at all times strive to ensure Borrower’s privacy.
specified by RBI. 14.7 Borrower hereby authorises the Bank to appoint recovery agents and
(c) The Borrower agrees that the Bank may share its mobile number and thereby consents and agrees that the Bank shall be entitled to disclose to such
other personal information with the Borrowers’s mobile network operator and their recovery agents/third parties all necessary and relevant information pertaining to
third party agencies for verification, evaluation and assessment of the Borrower the Borrower(s)and the loan and the borrowers hereby consent to such disclosure
and neither the mobile network operator nor their third party agencies shall be by the Bank. Notwithstanding anything contained in this Agreement, the
responsible for obtaining a separate consent for collecting, processing or storing Borrower(s) expressly accepts and authorizes the Bank (and/ or any such recovery
such information. The Borrower specifically grants his/her consent to such mobile agents/third party as the Bank may appoint) to contact Borrower and disclose all
network operators and their agencies to share the results of such assessment with necessary and relevant information pertaining to the Borrower(s).
the Bank for processing of the Borrower’s loan application, 14.8 Set Off and Lien
(d) The Borrower further acknowledges that the Bank may undertake
periodic assessment and monitoring of the Borrower during the term of the loan a) Without prejudice to what is stated herein, the Borrower hereby expressly
and the Borrower grants his/her explicit consent to the Bank for receiving periodic agrees and confirms that in the event of the Borrower failing to pay the amount
information from the mobile network operator and their third party agencies for outstanding under the Loan or any other loan/ facility, whether as borrower or
this purpose. guarantor or otherwise, in addition to any general or similar lien to which the Bank
14.2 In the Event of Default, the Bank shall also be entitled to communicate or any of its subsidiary/affiliates may be entitled by law, the Bank shall, without
in any manner it may deem fit, to or with any person or persons including prejudice to any of its specific rights under any other agreements with the
guarantors, person giving reference to loan, with a view to procure assistance of Borrower, at its sole discretion and without notice to the Borrower, be at liberty to
such person or persons in recovering the defaulted amounts including but not apply any other money or amounts standing to the credit of the Borrower in any
limited to visiting the property and/or any place of work of the Borrower. In case account (including fixed deposit account) of the Borrower (whether singly or
of default in payment of EMIs, telecom operator may, upon receiving instructions jointly with another or others) with the Bank or any of its subsidiary/affiliates in or
towards payment of the monies due from the Borrower. The rights of the Bank
 under this Agreement are in addition to other rights and remedies (including
without limitation other rights or set off) which the Bank may have.

b) In event of any third party, including any statutory authority or court of law
asserting any rights over any of the deposits, monies, securities and assets placed
with the Bank, the Bank shall be entitled to exercise its rights of lien and set-off in
respect of the same and be required to provide to such third party only such
deposits, monies, assets and securities placed with the Bank as would be available h) The Borrower agrees, declares and confirms that, notwithstanding any of
after setting aside deposits, monies, securities and assets etc, towards the said dues the provisions of the Indian Contract Act, 1872 or any other Law, or any terms and
of the Bank (Liabilities) whether any part of or all of the said dues are by then conditions to the contrary contained herein, the Bank may, at its absolute
arisen, crystallized or not and whether actual or contingent. discretion, appropriate any payments made by the Borrower under this Terms and
Conditions or otherwise, towards the dues payable by the Borrower to the Bank
c) If any of the Borrower Entities have more than one agreement with or have under this Terms and Conditions and/or other agreements entered into between the
availed any other facility from the Bank of whatsoever kind and if in any of the Borrower and the Bank and in any manner whatsoever.
contracts or agreements, they have committed any breach or default, then the Bank i) I hereby provide the consent to bank to pull my KYC details from
has the right of lien and the right to hold on to the Vehicle/ Hypothecated Asset (as CERSAI & PAN details from NSDL as and when required by the Bank for the
security for all such liabilities of the Borrower Entities/persons including under compliance.
this and other agreements, and to act accordingly) of all the assets under all the j) “I/We undertake and declare that if there are any changes in the particulars
agreements even if in any of the agreements, the Borrower has paid off all dues and information given by me/us while availing the Loan facility, I/We shall within
and/or the assets have become free from any charge under such loan facility. 30 days from the date of any such change in the particulars and information shall
disclose the details of such changes to the Bank without withholding the same.
d) The bank has the exclusive right and sole discretion to appropriate all amounts k) Non-Waiver: - Any omission or delay on the part of the Bank shall not be
received from the Borrower towards any of the agreements that the Borrower or deemed to constitute a waiver by the Bank of any of its rights under this T & C.
any of the Borrower entities has entered into notwithstanding the instructions from l) Governing law: - The Agreement shall be construed and governed as per
any of them to the Bank to appropriate the money to/against a particular agreement The Borrower agrees that all claims, disputes or differences arising out of or in
or liability thereunder. connection with this T & C, whether during or after the Borrower shall not transfer
the Product to any third party and maintain the Product in good order and
e) The Bank shall have right to apply and/or appropriate and/or set off any credit condition during the currency of the Loan. The Borrower shall upon change of
balance of the Borrower(s) or any monies/assets (including but not limited to residence immediately intimate to the Bank. The Borrower shall ensure that no
property, assets, securities, shares, stocks, and the like) belonging to the part of the Loan is utilized for any illegal, immoral activities, gambling, lottery.
borrower(s) coming in the hands of the Bank towards repayment of loan under this m) Grievance Redressal, Governing Law and Dispute Resolution
agreement or any other agreement upon occurrence of the event of default. i. In event of any grievances, the Borrower may approach the nodal officer of
Exercise of any such right shall be binding on the Borrower(s). the Bank. The contact details of the nodal officer have been provided in the Key
Fact Statement (KFS).
15. Force Majeure ii. The Parties agree that this T & C shall be governed by the laws of India.
The Borrower shall be liable to perform or fulfil its obligations at all point of time The Borrower agrees that all claims, disputes or differences arising out of or in
and shall not delay/postpone performance, its obligations in whole or in part, even connection with this T & C, whether during or after the termination of the T & C,
on the ground of any force majeure event such as acts of God, floods, cyclones, shall be referred to the sole arbitrator, appointed by the Bank, in accordance with
earthquakes, fires, wars, riots, strikes, orders of governmental or other statutory the Arbitration and Conciliation Act, 1996 as amended from time to time. The
authorities, national emergency, or any other similar causes. place of arbitration shall be at Mumbai only. Pending the interim award, the
Borrower shall be liable to perform its obligations under this T&C, including the
16. GENERAL payment of installments and other outstanding.
a) T & C is binding on the Borrower and the Bank on and from the date 17. Except to the extent disclosed to the Bank: (I) all the Borrower's
mentioned in the Sanction Letter. contracts or agreements with, or any commitments to, any affiliates or group
b) The Borrower, his/her legal heirs, executors, administrators and successors companies(if applicable) are on arms' length basis; (ii) (a) where the Borrower is
shall be bound by this T & C. In case of death of the Borrower, the DPN given by an individual, he/ she is not a director or specified near relation of a director of a
the Borrower will be invoked against his/her legal heir/s and successors, banking company; (b) where the Borrower is a partnership firm/HUF/limited
c) The Borrower shall not be entitled to assign his/her rights and obligations liability partnership firm, none of the partners or members of the HUF is a director
or terminate this T & C. The Bank shall be entitled to sell/transfer/assign, any or or specified near relation of a director of a banking company; and (c) where the
all its rights, benefits, duties and obligations including rights to receive Borrower is a joint stock company, none of its directors, is a director or specified
installments and loan balance to other entity and for such assignment, the near relation of a director of a banking company; (iii)(a) where the Borrower is an
Borrower shall perform its obligations under this T & C to such assignee. individual, that he/ she is not a specified near relation to any senior officer of the
d) The Borrowers undertake/s to warrant and keep the Bank insured in Bank, (b) where the Borrower is a partnership firm/HUF/ limited liability
respect of breach of any of the T & C, Sanction Letter, Application Form and any partnership firm, none of the partners or members of the HUF, is a specified near
other documents submitted by him/her (collectively referred as the Loan relation of any senior officer of the Bank, and (c) where the Borrower is a joint
documents). stock company, none of its directors, is a specified near relation of any senior
e) The Borrower agrees to execute, deliver and perform, any and all further officer of the Bank. The Borrower agrees that the Bank has an unconditional right
acts or documents which the Bank may reasonably require to effectuate the to revoke and/or recall the entire loan facility if the disclosure as mentioned in this
purposes of this T & C. clause is found to be false.
f) In case the said loan is sourced through Business Correspondent (BC),
Bank shall be responsible to address the grievances of the Borrowers in relation to 18. Authorization
acts of commissions and omissions of the said business facilitator/correspondent. I/We hereby authorize you and your associates, third parties and agents to contact
g) The Borrower understands, acknowledges and agrees that the Facilities are me/us, for providing information about new products, offers, promotions etc. and
uncommitted facilities, are recallable by IDFC Bank on demand and may be also for receiving feedback or surveys etc. by way of email, sms, phone calls or by
cancelled and repudiated in part or in entirely by IDFC Bank at any time without any other means of communication and expressly agree to exempt such actions by
notice and without giving any reason. Sanction or part disbursal of the facility you or them for the purpose of Do Not Disturb guidelines issued by Telecom
should not be construed as giving rise to binding obligations on the part of IDFC Regulatory & Development Authority (TRAI) or any other authority.
FIRST Bank to provide the facility mentioned aforesaid. The Facility mentioned
aforesaid will be available solely at IDFC FIRST Bank’s discretion and IDFC
FIRST Bank will not be liable for any action taken by the borrower on the basis of
this sanctioned facility.

19. Customer is responsible for submission of complete documents, as per

25. Classification of Account as Red Flag Account
the checklist in the form, for processing his durable loan at the Bank before
25.1 The Borrower understands and agrees that, in case the loan account is
delivery of product. He/she has to ensure that his documents reaches the Bank Ops
classified as red-flagged account, the Bank shall conduct an audit as per its Policy,
office.
for further investigation in the account.
20. The Borrower meets the Bank requirement of credit eligibility. The Bank
25.2 The Borrower shall co-operate with the said audit and shall provide
shall be further entitled to modify and change any pre- approved Loan Amount on
required information, documents, etc. to the Bank or any person appointed by
the sole discretion of the Bank basis credit eligibility of the Borrower from time to
Bank for conducting the audit for further investigation in the account as per its
time.
Policy.
21. As instructed by the Customer, the Bank shall disburse the loan amount
25.3 In case, the Borrower does not co-operate for conducting such audit, the
to the Dealer. It is the responsibility of the Customer to get delivery of the Product
Bank shall conclude the account as fraud, without giving further notice.
from the Dealer. In case the Customer returns the product to the Dealer for any
reason (including defect/s in the product), customer is entitled to recover the cost
of the product from the Dealer as per the terms and conditions agreed between the NOTE:
Dealer and the Customer. It shall not absolve the Customer from repaying the a) the Bank is collecting the premium on behalf of the insurer and liability to
Loan already disbursed by the Bank to the Dealer. In case the Customer returns the pay any claim is solely of the insurer.
Product to the Dealer and inform the Bank before disbursal of the Loan Amount to b) The policy cover will commence from date of acceptance of your
the Dealer, the Bank shall not disburse the Loan to the Dealer and shall close the insurance proposal by the insurer.
loan account in the Books of the Bank. In both the cases, customer should get c) If your insurance proposal is not accepted by the insurer, the Bank shall
proper acknowledgment from the Dealer as to return of Products by the Customer refund the premium or adjust it against your outstanding EMI/ loan amount.31.
to the Dealer and share the said acknowledgment with the Bank. The borrower is aware that this document is an electronic record in terms of
22. The Bank shall also be entitled to communicate in any manner it may Information Technology Act, 2000 and rules there under as applicable to
deem fit, with the person/s or persons whose name is given for reference by the electronic records in various statutes as amended by the Information Technology
Borrower, with a view to get assistance of such person/s in recovering the Loan Act, 2000. This electronic record is generated by a computer system and does not
amount. require any physical signatures.
23. The Borrower acknowledges and agrees that the Bank is acting as a 26. Electronic communications shall be deemed to have been received by borrower
Lender and shall not be responsible or liable for any loss, claim, liability, or when we send the electronic communication to the email address / mobile number
damage of any kind resulting from, arising out of, or in any way related to any / details provided by borrower or any other third party. Borrower undertakes that
communication/ arrangement between the insurance company and the Borrower. he will not hold Bank or Banks business partner’s/ service providers/ authorized
The Borrower understands, acknowledges and agrees that the Bank shall not be third parties responsible for any such communications received from Bank/ its
held responsible or liable for any loss, claim, liability, or damage arising out of business partner’s/ service providers/ authorized third parties, nor will any such
insurance related issues on product bought under this Agreement. communication amount to spam, unsolicited communication or a violation of
23.1 In no event shall IDFC FIRST Bank Limited be liable to the Customer/ borrowers) registration on the national do not call registry.
Borrower for any special, incidental, indirect, punitive or consequential damages 27. The Borrower hereby expressly acknowledges and confirms that the Borrower
whatsoever (including, without limitation, damages of loss of goods or services, or has read, verified, understood, irrevocably agreed to and accepted and delivered all
any other pecuniary loss) arising out of the use of, or inability to use, or avail the the terms and conditions contained in Clauses 1 to 33 (including sub clauses),
facility/defective product, including breach of warranty, negligence or other schedule of charges, Standing Instruction (collectively, “Loan Documents") online
tortious action, or any other claim arising out of Borrower’s use of or access to the by ticking / clicking /checking the "I agree" or "I agree and accept" or any similar
Product/ Policy /Facility. icon/tab/option on the online system / Website / portal / platform of Merchant/ its
agent/service provider as well as by entering the one time password ("OTP")
23.2 Further, under the Terms and Conditions, IDFC Bank Limited shall have
provided to the Borrower's mobile number registered with the Bank, and that there
no liability to the Borrowers in respect of any loss or damage arising directly or
is no requirement of Borrower's any other signature or physical signature on the
indirectly out of:
Loan Documents or of the Borrower signing the Loan Documents in physical
(a) Any defect in any Product supplied;
form.
(b) Delay in delivery or non-receipt of Product purchased;
The Borrower also acknowledges that the execution of the agreement would be
(c) Acts done by IDFC FIRST Bank Limited on the instruction of any person
complete only once the same is accepted by the Bank.The Bank also does not
impersonating himself/herself as a Borrower;
require to sign the Loan Documents in any physical form. The Bank shall be
(d) The exercise by IDFC FIRST Bank Limited of its right to terminate the deemed to have accepted and signed this document online by way of sending an
Facility; or email/ letter through its officer to the Borrower and attaching therewith the copy of
(e) Any injury to the credit character and reputation of the Borrower alleged this document.
to have been caused by the termination of the Facility and/or the refusal of any d) Product shall mean consumer durables and/or other products and/ or
Dealer to honor the Facility. services, including but not limited to any extended warranty on consumer durables
(f) Delay in payment by Payment Aggregator. and/or other products, as approved by IDFC FIRST Bank Limited, which is
23.3 IDFC FIRST Bank Limited holds out no warranty or makes no purchased and /or availed by the Borrower.
representation about quality, delivery or otherwise of the Product and or polices . e) The Borrower agrees that IDFC FIRST Bank Limited by provided the
23.4 Notwithstanding anything to the contrary contained herein or under any facility to the borrower creates a relationship of debtor and creditor between the
other transaction documents, the provisions of this clause (Exclusion of Liability) borrower and the Bank. Bank shall under no circumstances be regarded as a
shall survive the termination of the Facility. service provider in relation to the Product.
23.5 The Borrower acknowledges that the Application Form and the Terms
and Conditions give rise to a debtor-creditor relationship between the Borrower
and IDFC FIRST Bank Limited, and there is no service that is being provided by f) In no event shall the Bank be liable to the Borrower for any special,
IDFC FIRST Bank Limited to the Borrower. Further the parties understands that incidental, indirect, punitive or consequential damages whatsoever(including
the provisions of the Consumer Protection Act, 1986 shall not apply to the without limitation, damages of loss of goods or services or any other pecuniary
Application Form read with the Terms and Conditions loss) arising out of the use of, or inability to use or access the Facility or for any
24. The Borrower understands and agrees that the Red Flagged Account is security breach or technical malfunctioning of the Bank's systems, including
one where suspicion of fraudulent activity is thrown up by the presence of one or breach of contract or warranty, negligence or other tortious action, or any other
more Early Warning Signals (EWS) indicators (as defined in relevant RBI claim arising out , the Borrowers use of or access to the facility.
circulars from time to time), alerting / triggering deeper investigation from g) For the purpose of stamp duty, any writing on a stamp paper or franked
potential fraud angle and initiating preventive measures by the banks. page associating the stamp paper or such franked page with this document will be
as good as making the stamp paper/franked page an integral part of this document.
ACCEPTANCE

I, the Borrower, acknowledge that I have read/ fully explained and understood all the T & C and hereby agree, accept
and undertake to abide by the same and the copy of T & C is received.

Date: 31/10/2024

Time Stamp: 12:21 PM

Name of Borrower:

IDFC FIRST Bank Limited (formerly IDFC Bank Limited)

Naman Chambers, C 32, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Tel: +91 22 7132 5500 Fax: +91 22 2654 0354
Registered Office: KRM Towers, 7th Floor, No. 1, Harrington Road, Chetpet,
Chennai 600031. Tel: +91 44 4564 40.00 Fax: +91 44 4564 4022
CIN: L65110TN2Q14PLC097792 | bank.info@idfcbank.com | www.idfcfirstbank.com