Bajaj Finserv DBS Bank SuperCard Credit Card - MITC

Effective 9th January 2023, there will be a revision in the MITC on your Bajaj Finserv DBS Bank Supercard. To view the New MITC click here.

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Bajaj Finserv DBS Bank SuperCard Credit Card - MOST IMPORTANT TERMS AND CONDITIONS

The “Most Important Terms and Conditions” (“MITC”) and all information herein are applicable to all Bajaj Finserv DBS Bank SuperCard co-branded Credit Cards (“SuperCard” or “Credit Card”)- Cardmembers / Cardholder/ applicants of Credit Cards/ Customers of the DBS Bank India Limited (‘DBS Bank’/‘Bank’), members of the public evincing interest in the Credit Card product of the Bank, forthwith. The MITC are subject to change at the discretion of the Bank and in accordance with laws as applicable from time to time. The said MITC is in addition to and to be read along with the terms and conditions of the Cardmember Agreement of the Bank. If the terms and conditions are unacceptable to you, please inform us in writing at [email protected] and destroy Credit Card by cutting it diagonally in half across the magnetic strip, and return the same to us within 10 days of receipt of the Credit Card.

(A) FEES AND CHARGES

(i) Joining fees for primary card holder and for add-on card holder and

(ii) Annual membership fees for primary and addon card holder

*GST as applicable on fees and charges shall be additional

 

The joining fees, annual fees, and renewal fees applicable on various Credit Card(s) issued by the Bank may vary from Cardmember to Cardmember, and from description of Credit Card to Credit Card. The applicable fees shall be as communicated to the Cardmember at the time of applying for the Credit Card and or at the time of issuance of the said Credit Card. Further, such fees, as applicable, are directly charged to the Cardmember’s Account and are indicated on the Card Statement accordingly.

Other Fees and Charges

Updated Fees and charges are also available on the website

Important information for cross-border transactions:

All cross-border transactions are billed to the card member account in INR after conversion into Indian Rupees at the bank assigned conversion rates applicable on the day the charge was settled on the Bank by the Acquirer (Acquirer here refers to such entity of merchant on whose terminal/device/website the transaction took place). Conversion of cross-border transactions shall attract charges as specified in the other fees and charges. For transaction carried out in currency other than US Dollar, the transaction amount shall first get converted into US dollars at Visa assigned conversion rate and then into Indian Rupees after levying of the applicable charges as specified in other fees and charges.

(iii) Cash advance fees Cash Withdrawal Charges:

The Cardmember can use the Credit Card to withdraw cash from ATMs in India and/ or overseas in accordance with the compatibility of the Credit Card at the said ATM(s). Cash Withdrawal Charges/ Transaction fee as mentioned above shall be levied on all such withdrawals and would be billed to the Cardmember in the next/ forthcoming Statement. The transaction fee is subject to change at the sole discretion of the Bank. In case the full payment is not made for Cash withdrawn on Payment Due Date, finance charges at the rate of up to 4% per month or 48% per annum will be charged from date of transaction.

(iv) Service charges levied for certain transactions

(v) Interest free (grace) period - illustrated with examples the interest free (grace) period could range between 20 to 50 days. However, such grace period is not applicable, if the previous month’s balance has not been cleared in full.

Example: For an Account whose Statement Date is 20/11/2016, the Payment Due Date is 10/12/2016, which is 20 days from the Statement Date, is called interest free grace period.

(vi) Finance charges for both revolving credit and cash advances

Finance charges are payable at the monthly percentage rate on all charges, including cash advances where such charges are payable from the date the Primary Cardmember and/or Add-on Cardmember incurs such transactions until they are fully paid. Finance charges also accrue on ordering Demand Drafts, Balance Transfer from other credit card accounts. The charges are applicable from the date of withdrawal of cash or cash equivalent and from the date of issue of the Banker’s Cheque, as the case may be. For purchases, the Finance Charges accrue only if the total outstanding is not paid in total by the Payment Due Date. In case of Balance Transfer from other credit card accounts, Finance Charges accrue immediately from the date of issue of Banker’s Cheque on the transferred amount and on any purchase amount outstanding on the Cardmember’s Card Account. Finance Charges that are payable are debited to your Card Account on the last date of each Statement period and are shown on your Statement. The Finance Charges as above will continue to be payable even after the closure of the Card Account until the outstanding on the Card Account is cleared in full. These charges can be changed basis your payment, utilization, internal risk profiling and scores on external agencies like CIBIL etc.

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Overdue interest on Credit Cards

Annualized SNP (EMI) Interest rates:

Transactor: Upto 28%

Revolver: Upto 39%

Any change in the rate applicable to your account would be communicated to you in your statement at least 30 days prior to its effective date. Anytime you would like to know the rate applicable to you, please call us at our Customer Care Number: 1860 267 6789 or write to us at [email protected]

(vii) Overdue interest charge - to be given on monthly and annualized basis

Interest is calculated daily at the end of every day, basis the current outstanding balance of the Cardholder. The interest is computed separately for different plans. For retail transactions interest becomes due only when the Cardholder does not pay off his/her full balance by the Payment Due Date. Under the following criterion, the Cardholder does not incur interest:

Outstanding balance on the Statement Date is zero

Outstanding balance on the Statement Date is not zero but the Cardmember pays off 100% of his full outstanding balance by the Payment Due Date. Example of Interest Charge calculation: If only part of outstanding amount is paid by the payment due date, the interest calculation will be as shown in the table.

Interest on the Amount Due will be charged as below: Daily Interest = outstanding amount *(3.5%*12months)/365

*Total Amount Due includes outstanding amount, new purchases, interest charges (interest calculation illustrated below) and applicable Goods and Services taxes on interest.

Interest Calculation:

“Thus, the total interest charged (Finance Charge + Deferred finance charges would be: Rs.692.72 /-. As the Cardmember has not paid the previous month’s outstanding balance in full, all future transactions will bear interest from the day of transaction. Applicable Goods and Service Tax will be levied on the Interest Amount.”

(viii) Charges in case of default

Late Payment Fee (LPF) is charged to a Cardmember if there has been no payment or a payment less than the Minimum Amount Due (MAD) is received by the Payment Due Date. Late Payment Fee is charged at the rate of 15% of Total Due Amount, subject to a Minimum of Rs.50/- and a Maximum of Rs.1,500/-.

Example of Late Payment Fee calculation: Consider the Total Amount Due (TAD) on an Account is Rs.3,400/- and the Payment Due Date is 4th Aug. 2021. In case the Cardmember does not pay the MAD by Payment Due Date, a Late Payment Fee of Rs.510/- will be levied on the cycle date. LPF is 15% of the TAD i.e., 15% X Rs.3,400/- = Rs.510/-.

Overlimit penalty

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Overlimit Penalty is levied in case the outstanding on the card account exceeds the total current limit.

(B) WITHDRAWAL LIMITS

(a) Credit Limit: Credit Limit is the maximum limit assigned to the Cardholder. The Credit and Cash limits will vary for each Cardholder and will be communicated at the time of delivery of the card & are also indicated in the monthly statement.

(b) Available Credit Limit: The Available Credit Limit is calculated by deducting the utilised limit from the Total Credit Limit. The credit and cash limits will vary for each cardholder and will be disclosed in the monthly statement.

(c) Cash withdrawal limit: Cash Limit is the subset of the Total Credit limit assigned on the card. The limit will be communicated at the time of delivery of the card & are also indicated in the monthly statement. The cash limit will be made available to the card member by DBS Bank at its sole discretion and on such terms as may be communicated by DBS Bank from time to time.

(d) In case where multiple credit cards are mapped to one Customer for the same Credit Card Account, total spends can be done only up to the combined aggregate limit calculated over all the credit cards cumulatively It is clarified that the aggregate credit limit has been defined as the maximum limit across all the credit cards held by the customer. Any transactions done more than the aggregate credit limit shall be declined.

(e) Credit Limit and Card Account will be terminated if your Card is cancelled.

(f) In the event you make payment over and above the amount due as per the monthly Statement, you shall not be entitled to interest on the credit balance and the same shall be adjusted against the amount due in the subsequent monthly Statements.

(g) The Bank at its sole discretion, may decrease the cardmember’s credit limit based on internal review and will inform the cardmember of the same as and when exercised. Further, any increase in the credit limit will be undertaken with prior consent from the cardholder.

(h) Usage of Credit Card is subject to applicable laws, including but not limited to any transactions carried outside India must be made in accordance with Foreign Exchange Management Act, 1999 and RBI guidelines and for any non-compliance or failure to do so, you shall be liable of penal action.

(i) With a view to ensure that the Credit Card is being used as per the regulatory guidelines, Terms and Conditions and applicable policies of the Bank, Bank shall have a right to run periodic checks on the Credit Card usage to identify whether there is excessive utilization of credit limit beyond the sanctioned limit in one statement cycle, unusual or excessive utilization at few select merchants, possible collusion with merchant and/or usage towards non-personal/ business related requirements, over-use/misuse of features/offers/programs towards accumulation of undue reward points/cash back/ other benefits amongst others. Based on the usage patterns, if any of these is suspected by the Bank, Bank may take restrictive action on the Credit Card. Such action can be with immediate effect and may include but not be limited to withdrawal of features/benefits as well as suspension/ complete termination of the Credit Card. If any such action is taken by the Bank onus will be on Cardmember to provide satisfactory proof of bonafide usage to reinstate the Credit Card and attached features/benefits as may be deemed fit by the Bank. Bank’s decision in this regard shall be final and binding on the Cardmember.

CARD UPGRADE

In case of card upgrade the Bank shall obtain explicit consent from the Cardmember before the card variant is upgraded as and when exercised.

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(C) BILLING

(i) Billing Statement

The Bank will send at customers mailing address, a statement once a month for each billing period (hereinafter “Statement”) during which there is any transaction or outstanding on the Card Account. The Bank may choose to send the Statement through one or more of the following modes:- Post,  Email, SMS Messaging or other platform based messaging like Whatsapp, etc. It shall be the responsibility of the Customer to access and view their credit card e-statements via mobile app or net banking. The Bank reserves the right to not send physical statements by mail / courier to customers who have an outstanding balance less than INR. 100. Such Cardmembers, however, can access their statements online and avail of e-statements. The Cardmember can also request for a physical statement by submitting request at DBS service channels. In case of any change in Cardmember’s communication address, they are advised to contact the Bank immediately to ensure that they receive Statements regularly and on time.

The monthly statement of account will be available for a period of 12 months post which it would be purged at bank’s end. Cardmember can request for duplicate statements subject to payment of service fee which will be communicated as part of fees & charges

(ii) Minimum amount payable

All Bank Credit Card(s) may offer the Cardmember(s) a revolving credit facility, wherein the Cardmember(s) may choose to pay only the Minimum Amount Due (MAD) as indicated on the Statement. The Total Payment Due (TAD) from the Cardmember or the MAD should be paid by the Cardmember on or before The Payment Due Date, which is also indicated on the Statement. MAD is the minimum amount you are required to pay to keep your Card Account in good credit standing.

The minimum amount due is calculated as 5% of your principal outstanding (subject to a minimum of Rs. 100)+ Sum of all instalments (EMI) + any other fees & charges, as applicable + any previous unpaid dues.

In the event the Card Member deposits part of the Total Payment Due or the MAD (not less than the MAD under any circumstance), the balance outstanding amount payable shall be carried forward to subsequent Statements. This amount will attract Finance Charges until the date of full and final payment. Please note that paying only the Minimum Amount Due every month will result in the repayment stretching over a long period with consequent interest payment on Card Member’s outstanding balance.

Important Note: Making only the minimum payment every month would result in the repayment stretching over months/years with consequential compounded interest per month applicable on your outstanding balance as indicated in the Key Facts Statement.

Illustration: If a Card Member spends INR 5000 and pays exactly the Minimum Amount Due every month, then it may result in the repayment stretching over 6 years with consequent interest payment on the outstanding amount.

Therefore, whenever cash flow allows, the Card Member should pay back substantially more than just Minimum Amount Due.

(iii) Method of payment

The Cardholder has the benefit of the following modes of payment to the bank:

1. Pay using Credit Card Mobile App: Cardmember can make payments at their convenience using DBS Card+ Mobile App/ Other credit card apps (if available). Customer can manage their account and make payments to their Card instantly using other bank account.
2. Online Payment: Cardmember can make their Credit Card payment instantly using other bank accounts to pay their Card outstanding and receive confirmation for their Payment instantly.
3. Cheque payment: Cardmember can make payment of their Credit Card at DBS branches/ Bajaj Finance Limited (‘Co-brand Partner’) branches via depositing Cash or cheque. The cheque should be made payable to ‘DBS Bank Credit Card No XXXX XXXX XXXX XXXX’ (mention cardholders’ 16-digit credit card number). Cheque payment can be submitted at: - Drop-boxes at DBS Bank branches and Co-brand partner branches in India. (Visit www.dbs.com/in for a complete list of Branches)
4. Cash payment: Cash payments can be made at any DBS Bank branches and Co-brand partner branches in India.
5. NEFT – Customers can Pay using other bank Internet Banking facility. Add DBS Credit Card in the beneficiary section with 16-digit DBS Credit Card number, IFSC, branch details at the time of registration for fund transfer.

 

(iv) Billing disputes resolution

All contents of the Statement(s) will be deemed correct and accepted by the Cardmember(s) unless, within 30 days of the issue of Statement, the Cardmember(s) informs the DBS Bank of any discrepancies in writing, failing which it would be construed that all the charges indicated on the Statement are in order. As per the Visa regulation, in case of a discrepancy, it is mandatory to inform the bank in writing to initiate a Charge Dispute on your behalf. If the aforesaid discrepancies are prima facie found to be legitimate by the Bank, the Bank may reverse the charge on a temporary basis until the completion of subsequent investigations by the Bank to its full and final satisfaction. If the said investigations conducted by the Bank indicate that the liability of such (discrepancies) charges is accruing to the said Cardmember(s), then the charge will be reinstated in the subsequent Statement and fees/charges shall be claimed by the Bank in accordance with the charges indicated herein above. Notwithstanding the provisions 13 herein, the Bank shall not exceed duration of 60 days in informing the said Cardmember(s) of the result of the investigations conducted by the Bank. The Cardmember can reach out to the Bank for dispute through any of the below mentioned ways:

1. Email: - The Cardmember can send an email to [email protected] with your Credit Card no., registered mobile number and dispute details.
2. Toll free number: The Cardmember can contact the Bank on our 24 hours Customer Service number: 1860 267 6789 or our overseas customer service number +9144 69046789. 

(v) Grievance redressal escalation – Contact at DBS Bank India Limited, we want to make sure that you get only the best of service from us, service which you, our valued customer, deserve.

The Bank’s Grievance Redressal policy follows the following principles:

• Customers are treated fairly at all times.
• Complaints raised by customers are dealt with courtesy and in a timely manner.
• Customers are informed of avenues to escalate their complaints within the organization, and their rights if they are not satisfied with the resolution of their complaints.
• The Bank employees work in good faith and without prejudice, towards the interests of the customers.

Cardmembers can contact our Customer Care (only for Credit Cards): Contact our 24-hour credit card service helpline number 1860 267 6789 or our overseas customer service number +9144 69046789 or write to us at  [email protected]

If, at any stage, you feel that our service levels are not up to your expectations, here is what you can do:

1. Level 1: You can contact us by calling on our Customer Care number 1860 267 6789 or write to us at  [email protected].  
2. Level 2: In case you are not satisfied with the resolution provided under Level 1, you can escalate the complaint and write to the Principal Nodal Officer, DBS Bank India Limited, 16th Floor, Express Towers, Nariman Point, Mumbai – 400 021 or email at [email protected]. In your communications, kindly provide your complete credit card number and details of your complaint or feedback.

For more details, you can visit the Bank’s grievance policy available on the Bank’s website:

https://www.dbs.com/in/treasures/common/redressal-of-complaints-and-grievances.page

For more details on compensation policy, you can visit

https://www.dbs.com/in/iwov-resources/pdf/forms-and-legal/compensation-policy.pdf

The grievance policy will help you with the contact details, timelines, and escalation levels for you to lodge your complaints. In case, you are not happy with the resolution provided by the Bank, the policy also guides you on the process and how to approach Ombudsman.

 

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(D) DEFAULT AND CIRCUMSTANCES

(i)  Procedure including notice period for reporting a card holder as defaulter:

In the event of default, the Cardmember will be sent reminders from time to time for settlement of any outstanding on the Credit Card Account using any of the following modes: by post, telephone, e-mail, SMS messaging and/or engaging third parties to remind, follow up and collect dues. Any third party so appointed, shall adhere fully to the Code of Conduct on debt collection as applicable from time to time.

Occurrence of one or more of the following events shall constitute an event of default and the Bank at its sole discretion may withdraw the Credit Card facility. The events of default are as under:

• The first event of default will occur, if the customer fails to make the payment of minimum amount due by the payment due date as indicated on the credit card billing statement.
• The Cardmember consistently fails to pay any amount due to the Bank within the stipulated period of 90 days.
• The Cardmember fails to perform the obligations as per Cardmember Agreement.
• Any cheques and/or ECS/standing instructions delivered to the Bank are not encashed/ acted upon for any reason whatsoever on presentation/ being made.
• Any representation made by the Cardmember proves to be incorrect, false, or incomplete, including but not limited to income and/or identification papers/documents forwarded to the Bank being proved incorrect, incomplete, and or containing false fraudulent information.
• 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) Procedure for withdrawal of default report and the period within which the default report would be updated after settlement of dues:

• The defaulter in question has liquidated his entire outstanding dues with the Bank or settled his dues with the Bank
• A court verdict has been received against the Bank, in a legal suit filed by or against the Bank, instructing the Bank to de-list the Cardmember from the default report. Decisions are taken on a case to case based upon individual reviews.

(iii) Recovery procedure in case of default: In case of default, the Bank can recover the amount by initiating such legal action before appropriate court/tribunal of appropriate jurisdiction. The Bank exercise such rights and remedies available to the Bank under applicable laws, and all such rights and remedies are cumulative and not alternative can be enforced concurrently or successively.

(iv) Recovery of dues in case of death/ permanent in capacitance of Cardholder: Upon death or permanent incapacitation of the Cardmember, the Bank will try to recover the amount due and amicably settle the Account dues with the Cardmember’s legal heir(s).

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(E) TERMINATION / REVOCATION OF CARD MEMBERSHIP

(i) Procedure for surrender of card by Cardholder

1. a) The Cardmember may terminate this Agreement at any time by returning to the Bank all the Credit Card(s) cut diagonally in half across the magnetic strip and the chip on the Credit Card needs to be destroyed by cutting the chip in two pieces, either along with a written request or followed by calling the Bank’s 24 Hours Customer Service Helpline or write an email requesting termination of all facilities and benefits thereto associated with the Credit Card(s). The Primary Cardmember can cancel the use of Additional Card(s) by notifying the Bank in writing but, notwithstanding the same, the Primary Cardmember will remain liable for all charges fees incurred by use of the Additional Credit Card(s). No annual fees and/or other charges shall be refunded on a pro-rata basis.
2. Email: - The Cardmember can send an email to [email protected] with your Credit Card number
3. Toll free number: The Cardmember can contact the Bank on our 24 hours Customer Service number: 1860 267 6789 or our overseas customer service number +9144 69046789.
4. b) The Bank may terminate the Credit Card facility immediately at any time at its discretion or at any time restrict the use without assigning reason or cause and without any notice thereto. Where the Bank terminates the Credit Card facility, all amounts outstanding on the Card Account (including Charges or Cash Advances not yet debited) will become due and payable immediately. The Bank may inform all establishments (where the Credit Card is valid/ accepted) of the cancelled Credit Cards. If the Credit Card is cancelled, it must not be used and should be cut in diagonally over the magnetic strip and the chip on the Credit Card needs to be destroyed by cutting the chip in two pieces. No annual fees or other charges shall be refunded on the pro-rata basis.
5. c) In the event that the Cardmember changes his/her employment, profession or address, or is transferred from his/her present place of posting or changes his/ her salary account/main bank account etc. (as the case may be), the Bank at its sole discretion shall have the right to discontinue the Credit Card facility. The Cardmember specifically acknowledges that once the Credit Card Account is cancelled/ closed, the privileges (including all benefits and services) of the Credit Card shall stand withdrawn, and reinstatement of such privileges is not automatic and will take place solely at the discretion of the Bank. On cancellation of the Credit Card (for any reason whatsoever), the Cardmember:

• Must not use the Credit Card, cut the Card diagonally into half, and return the same to the Bank
• Is responsible for any use of the Card including payment of Charges until the Card is returned to the Bank cut diagonally into half.
• Must continue to make payments to the Bank in accordance with the conditions of use of the Credit Card

1. d) If Cardmember(s)’ Credit Card is never used or not used for over 90 days, the benefits thereto may be withdrawn.

(ii) Procedure for closure of card account if the card has not been used for more than one year

If a Credit Card has not been used for a period of more than one year, the process to close the card shall be initiated after intimating the Cardholder. If no reply is received from the Cardholder within a period of 30 days, the card account shall be closed by the Bank, subject to payment of all dues by the Cardholder. The information regarding the closure of card account shall be reported with the Credit Information Company/ies in the subsequent month reporting

Subsequent to closure of credit card account, any credit balance available in credit card accounts shall be transferred to the Cardholder’s bank account. The Bank shall obtain the details of the Cardholder’s bank account, if the same is not available.

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(F) LOSS/ THEFT/ MISUSE OF CARD

(i) Procedure to be followed in case of loss/ theft/ misuse of card. The Cardmember should block the card immediately, using DBS Card+ Mobile app or web portal alternatively customer can call DBS Card 24x7 Toll Free number : 1860 267 6789, or write and email to us on [email protected] or the customer may visit the nearest DBS Bank branch in the event the Credit Card is lost, stolen, not received, swallowed at an ATM of DBS Bank or any other Bank, or is being misused without his/her respective permission. The Credit Card thereafter will be blocked and suspended. In addition, in case of loss / theft / misuse, the Cardmember must file the Police Complaint/ First Information Report (FIR), a copy of which should be forwarded to the Bank.

(ii) Liability of card holder in case of (i) above

(a) The Cardmember’s liability arising out of any unauthorized use of the Credit Card prior to notice/ communication to the Bank shall be towards all charges incurred till the notice/communication to the Bank and shall be “Nil” only after receipt of notice by the Bank.

(b) In case of an unsigned Credit Card, the Cardmember shall be liable for all charges incurred on it.

(c) The Cardmember will fully co-operate with the Bank, the representatives of the Bank and/or legal authorities in the event of any investigation into any disputed transaction.

(d) In the event the Cardmember subsequently recovers the Credit Card (after reporting theft), the recovered Credit Card must not be used and must be cut in half and returned immediately to the Bank.

(iii) Unsuccessful / Failed transaction

By any reason if the transaction failed and it was deducted from your Credit Card, we request you to wait for 3 working days for the biller/merchant to claim the amount. If merchant claims the amount within 3 days, your transaction is considered successful.

If merchant does not claim the amount in 3 working days from the date of transaction, it will be reversed into your Credit Card within 5 working days from the date of transaction.

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(G) DISCLOSURE

(a) The Cardmember hereby expressly authorizes the Bank, for the purposes of credit verification or reference checks or protection of its interests to disclose all/ any information or documents relating to the Cardmember including this Agreement and/or any other agreements, or to disclose upon default committed by the Cardmember, with Reserve Bank of India, Income Tax Authorities, tribunals, courts, judicial bodies other banks, credit bureau, financial institutions or any other third party in conformity with the disclosure norms as applicable from time to time.

(b) The Cardmember hereby agrees that, only in case of an explicit consent provided by the Cardmember, the information furnished by the Cardmember in the credit card application form or otherwise may further be used by Bank for marketing purposes to sell Card related offers, including but not limited to, Balance Transfer, EMI offers, cash-related offers and insurance products, from time to time. Further, the Bank may use this information to market other products of Bank from time to time, in conformity with the disclosure norms as applicable. For ensuring that the Cardmember(s) are not inconvenienced, the Bank maintains a “Do Not Call” register and if Cardmember(s) will not like to be called for any marketing offers, they may inform the 24 Hours helpline by Phone or send an e-mail to [email protected] for listing their said contact numbers in such register. The Cardmember(s) can also register at the Bank website for the exclusion of their respective contact details.

(c) In the event that the Bank receives adverse reports (relating to a Cardmember(s)’ credit worthiness or something to such effect), the Bank may cancel the Credit Card, whereupon the entire outstanding balance as well as any further charges/fees incurred by use of the Credit Card, though not yet billed in a Statement, shall immediately become due and payable by the said Cardmember(s).

(d) The Cardmember authorizes the Bank to share information relating to the Cardmember with third parties to enable the Bank to administer, service and manage the benefits or programs to which the Cardmember is enrolled.

(e) Notwithstanding anything to the contrary, the Cardmember authorizes the Bank to disclose all any information or documents about the Cardmember including this Agreement and/ or any other agreement, transactions or dealings between  the Cardmember and the Bank for any purpose to : a. its head office or to any other branches, subsidiaries or associated or affiliated companies of the Bank; b. professional advisers of the Bank; c. any potential or actual purchaser/ assignee of the Bank or of any of its businesses, rights, assets or obligations; or d. to any other person where disclosure is required by law.

(f) The Credit Information Bureau India Ltd. (CIBIL) is an initiative of the Government of India and the Reserve Bank of India (RBI) to improve the functionality and stability of the Indian financial system. This is in line with the RBI’s efforts to provide an effective mechanism for exchange of information between banks and financial institutions, thereby enabling customers to avail of better credit terms from various institutions.

(g) All banks and financial institutions participating in this initiative are required to share customer data with CIBIL and other credit information bureau. In view of the above, the Bank shall report the data pertaining to Cardmember(s)/ Add on Card member(s) Account to CIBIL and other credit information bureau.

(h) In the event of default, the bank shall report the credit card account status as “defaulter” with the Credit Information Company. A seven-day notice shall be given to the Cardholder about the intention to report him/her as defaulter to the Credit Information Company.

(i) The Cardmember(s) acknowledge that, as per the business practices and applicable provisions, the Bank is authorized to share Cardmember(s)’ information with any existing or future credit bureaus as determined by the Bank from time to time. The said information may be shared with the CIBIL or any other credit information bureau approved/ notified by the competent authorities to improve the functionality and stability of the Indian financial system, and such other entities.

(j) In the event that a reported Card member subsequently settles or clears all dues with the Bank to the Bank’s satisfaction, the Bank shall make reasonable efforts in ensuring that the updated details of the said Card member are provided to CIBIL or such other credit information bureau to reflect the change.

(k) I authorize and give consent to DBS Bank to share and disclose any / all information as received KYC from UIDAI/ information furnished by me in application form(s) with BFL / credit bureaus / statutory bodies / subsidiaries/affiliates/Credit Bureaus/Rating Agencies, Services Providers, banks/financial institution, governmental/regulatory authorities or third parties for KYC information verification, credit risk analysis, or for other related purposes that DBS Bank may deem fit.

In case the Card Member commits a default in payment or repayment of principal amount of any financial assistance/facilities/ financial/credit facility or interest/charges due thereon, DBS Bank and / or the RBI will have an unqualified right to disclose or publish the details of the default and the name of the Card Member/ or its directors/partners/ add-on card holders, as applicable, as defaulters in such manner and through such medium as DBS Bank or RBI in their absolute discretion may think fit. DBS Bank shall disclose information relating to credit history/repayment record and/or days past due status of the Card Member in terms of the Credit Information Companies (Regulation) Act, 2005 to a credit information bureau. Acceptance of an application for a Credit Card is based on no adverse reports of the Card Member's credit worthiness. DBS Bank may report to other banks or financial entities any delinquencies in the Card Account or withdrawal of the Card Member's credit facility through the Card or otherwise. Based on the receipt of adverse reports (relating to credit worthiness of the Card Member or his / her family members), DBS Bank may, after 15 days prior notice in writing, cancel the Credit Card, whereupon the entire outstanding balance in the Card Account as well as any further charges incurred by use of the Card, though not yet billed to the Card Account, shall be immediately payable by the Card Member. DBS Bank shall not be obliged to disclose to the Card Member the name of the bank or financial entity, from where it received or to which it disclosed information.

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DISCLAIMER

DBS Bank or its Affiliates, and their respective employees, agents or contractors shall not be liable for any loss or damage, whether direct, indirect, consequential, incidental, exemplary, or special, including but not limited to loss of revenue, profit, business, savings, data or goodwill, loss of use, whether foreseeable or not, whether arising under any contract, tort or otherwise, arising out of any delay, interruption, restriction, suspension, breakdown, failure or error of communication systems, payment systems or any third party services necessary to provide the facility.

DBS Bank will never ask for card CVV/CVC/security code, PIN, OTP or password to offer any deals, services, products, gifts, vouchers, Cash Points, activation or cancellation of card. Kindly ignore such requests on call/SMS/email. You should ensure not to share or disclose card number/CVV/CVC/security code, PIN, OTP or password with any other person.

The communication information shared with the Bank at the time of Credit card onboarding will be utilized only for credit card. Customer needs to reach out to the bank separately for updation of communication details with regards to other products of the Bank.

Kindly ensure authenticity of the website/portal before initiating any transaction. Beware of the fake websites that defraud you.

 

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