You are on page 1of 2

Terms & Conditions - ICICIHome Finance Fixed Deposit Scheme

These terms and conditions (the Terms”) govern and regulate the fixed deposit scheme (the title to the Fixed Deposits. The Company shall not be bound to recognize such executor or
Scheme”) administrator unless such executor or administrator obtains Probate or Letter of Administrationor
provided by IC IC IHome Finance Company Limited (herein after referred, to as ICICI Home Finance Succession Certificate or other legal representation, as the case may be, from an appropriate
or the Company”) made available through IC IC IBank website: www.icicibank.com (”the court in India. The company at its absolute discretion, may in any case, dispense with the
Website”), subject to the following terms and conditions:
production of Probate or Letter of Administration or Succession Certificate or other legal
1. D EN O M INATIO N: Deposits under each option shall be accepted subject to a minimum
representation.
deposit amount under different income plans as specified below for individualapplicant/s (
7. Joints deposits, non-individualdeposits and deposits in the name of a minor shall not be accepted
Applicant”). Minimum Rs. 10,000/- under Annual / Cumulative income plan
by the Company through the Website.
Minimum Rs. 20,000/-under Quarterly income
plan 8. FIX E DD E P O S ITR E C E IP T
(“FDR”):
Minimum Rs. 40,000/-under Monthly income a) The FD R will be forwarded to the address of Depositor given in the application form,
plan by Registered Post or Courier or in any other manner that the Company may deem fit, at the
Any additional amount should be in multiples of Re. sole risk of the Applicant/Depositorafter receipt of the Documents and the Amount.
1/-
b) Fixed Deposit Receipts are non-transferable.
2. SUBMISSIONO F T H EA P P L IC AT IO N F O R M .OT H E RDOCUM ENT S: The Applicant desirous 9. LOSS. D E ST R U C T IO N
ETC
. . O F DO C U M EN
T:
to avail the Scheme and make payment/s thereon of the Fixed Deposit amount shall be required
a) Fixed Deposit Receipts, interest and refund warrants/cheques/demand drafts may be sent
to apply for the Scheme and provide requisite details on the Website. The Applicant shall either
by registered post or courier or in any other manner that the Company may deem fit, at the
be required to deliver the application forms duly completed and signed, along with the other
address of the Depositor given in the Application Form. The Company will not be responsible
documents (the Documents”) to the Company within fifteen (15) working days from the date of
for any loss or delay in transit due to postal/courier services or any circumstances beyond its
applying under the Scheme or shall be required to deliver the Documents to the ICIC IB an k’s
control.
official or agent who shall collect the Documents from the Applicant’s registered address,
b) In the event of loss, destruction or mutilation of the Fixed Deposit Receipt, interest or
in order to submit the Documents at such branch/ locations as specified by the Company.
refund warrant/cheque/DD, the Company may issue a duplicate Fixed Deposit Receipt,
The Fixed Deposit Receipts (FD R ) shall be generated and sent to the Applicants by the
interest or refund warrant /Cheque/DD, subject to non encashment of the originalinstrument,
Company, only upon receipt of the Documents. The Company may at its sole discretion,
upon receipt from the Depositor of an indemnity/documents in the prescribed form to its
accept/reject the application form on such terms and conditions as it may deem fit. In case of
satisfaction and after compliance with such other formalities as may be required by the
rejection of the application form, the Company shall initiate the refund process of the Amount
Company.
either by generating suitable electronic instructions or by giving specific instructions to IC IC I
Bank, for crediting the Account with the requisite amount or in any other manner as deemed fit 10. The Company shall accept only Fixed Deposit application/s through the Website. The Company
by the Company. shall not entertain service request/s relating to the Scheme such as renewal of Deposit,
repayment of Deposit, Loan Against Deposit, Pre-mature withdrawal of the deposit, issuance of
3. PAYM ENT: The payment of fixed deposit amount (the Amount”) shall be required to be made
FDR etc through the Website. Any and all such service request shall be attended to at the below
by the Applicant through the infinity account on the Website (the Account”) by transferring the
specified address of the Company.
Amount to IC IC IHome Finance account specified therein.
IC IC IH FC Central Operations Team, 2nd Floor, Trans Trade Center, Opposite FloralDeck Plaza,
In case of non receipt of the Documents by IC IC IHome Finance within the stipulated time period
M IDC,Andheri(E), Seepz, Mumbai.
as specified herein above, the IC IC IHome Finance shall initiate the refund process & the Amount
shall be credited back to the Account within 7 working days from completion of the above 11. R EPAY M E N TO F DEPO SITS:
stated time period of submission of Documents. In case of refund of the Amount, the Company a) Deposits will automatically expire on maturity. No interest will accrue thereafter on
shall not be liable to credit any interest on the Amount from the date of making payment of the such deposits unless the deposits are renewed as per clause on renewal of deposit.
Amount to IC IC IHome Finance. b) The Company will send intimation with regard to the details of the maturity of the deposit at
4. IN T E R E STPAY M E N TS: For the Fixed Deposits placed under the Scheme, the interest on least two months before the date of maturity of the deposit.
the deposits shall be paid from the date of receipt of the Amount however, the Fixed Deposit c) For repayment of deposits the duly discharged F D R with revenue stamp of requisite value
account shall be opened in the name of the Applicant only after receipt of the Documents as must be surrendered to the Company at least two weeks prior to the date of maturity
mentioned above. Such account shall be opened with effect from the date of receipt of the with the signature of the Applicant/Depositor.
amount. In case of non-receipt of Documents and refund of the Amount, the Company shall not d) A ll redemption payments will be in the form of warrant/cheque/DD/any other mode as
be liable to credit any interest on the Amount from the date of making payment of the Amount to the Company may deem fit and would be in favour of the Depositor marked A/c Payee only ”..
the Company. If the Depositor provides the details of account number and the bank branch, the same
Interest on deposits placed under Monthly Income Plan, Quarterly Income Plan and Annual would be printed on the face of the interest warrant(s). Direct Credit option may be
Income Plan shall be paid on fixed dates. Monthly interest payment dates will be the last day of used if the Applicant/Depositorhas an account with IC IC IBank.
each of the months. The standard quarterly interest payment dates are March 31, June 30, 12. Waiver: No failure or delay by the Company in exercising any right, power or privilege
September 30 & December 31 every year. Under Annual Income Plan the interest will be paid hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any other
once in a year, after the end of the financial year. right, power or privilege. The rights and remedies of the Company as stated herein shall be
Please note that all payments for part periods shall be made on pro-rata basis. If a deposit is cumulative and not exclusive of any rights or remedies provided by law.
made within a period of 20 days prior to a standard interest payment date, the interest for the part 13. Indemnity:
period will be paid on the next standard interest payment date.
a) The Applicant/Depositor hereby agrees that the Applicant/Depositor shall, at his/its
Under the Cumulative Income Plan, interest will accrue on March 31 every year and own expense, indemnify, defend and hold harmless the Company from and against any and all
the accumulated interest will be paid on maturity amount (includinginterest and tax deducted at liabilityany other loss that may occur, arising from or relating to the operation of Fixed Deposit
source, if any) which shall not exceed the total maturity amount as calculated on a year on year or breach, non-performance or inadequate performance by the Applicant/Depositorof any of
basis of compounding. these Terms or the acts, errors, representations, misrepresentations, misconduct or
Payment of interest shall be made to the depositor/s (the Depositor”) thruough direct credit to negligence of the Applicant/Depositorin performance of its obligations.
the
b) Under no circumstances shall the Company be liable to the Applicant/Depositor for any
Account of the depositor with IC IC IBank for all income indirect, incidental, consequential, special or exemplary damages in connection with the
Plans.
services.
If requested by the depositor, interest will be paid through ElectronicClearingSystem ECS only at
c) The Applicant/Depositor shall solely be responsible for ensuring full compliance with all
all centres where this facility is available, Where ECS facility is not available payments will be in
the applicable laws and regulations in the relevant jurisdiction in connection with the Fixed
the form of Warrant/Cheque/DD/anyother mode as the Company may deem fit and would be in
Deposits with the Company and shall indemnifyand keep indemnifiedIC IC IHome Finance from
favour of the Depositor marked A/c Payee o nly ”. If the Depositor provides the details of account
all actions, proceedings claims, losses, damages, costs and expenses (including legal costs
number and the bank branch, the same would be printed on the face of the interest warrant(s).
on a solicitor and client basis) which may be brought against or suffered or incurred by IC IC I
ECS would avoid fraudulent encashment of interest warrant(s).
Home Finance in connection with any failure to comply with any such applicable
Presently ECS facility is offered b y IC IC Bank
I at below mention laws/regulations.
Centers:
d) The indemnities as aforesaid shall continue notwithstanding the termination of the
• Delhi •Ludhiana •Amritsar •Jalandhar •Chandigarh •Shimla •Jammu •Kanpur Fixed Deposit.
• Allahabad •Varanasi •Lucknow •Dehradun • Gorakhpur •Agra •Jaipur •Bhilwara
14. Company’sLien and Right to Set Off:
• Udaipur •Jodhpur •Rajkot •Ahmedabad •Baroda • Surat •Mumbai •Panjim •Pune
• Sholapur •Kolhapur •Nasik •Aurangabad •Nagpur •Indore •Bhopal •Gwalior a) The Company shall have the paramount right of set-off and lien, irrespective of any other lien
• Jabalpur •Raipur •Hyderabad •Tirupati •Vijayawada •Nellore •Vizag •Kakinada or charge, present as well as future, on all the deposits held/ balances lying in any account of
• Banglore •Mysore •Manglore •Hubli •Chennai • Pondicherry •Madurai •Salem the Applicant/Depositor , whether in single name or joint name(s), to the extent of all
• Erode •Coimbatore •Tirupur •Calicut •Trichur • Cochin •Trivendrum •Kolkatta amounts payable by the Applicant/Depositorarising as a result of any of Company’s services
• Burdwan •Durgapur •Siliguri •Bhubaneshwar •Guhawati •Patna •Jamshedpur extended to and/or used by the Applicant/Depositor or as a result of any other facilities that
may be granted by IC IC IH o m e Finance Company to the Applicant/Depositor. The Company
• Ranchi • Dhanbad • Asansol • Jamnagar • Udupi • Trichy • Gadag •
Belgaum is entitled without any notice to the Applicant/Depositor to settle any indebtedness
whatsoever owed by the Applicant/Depositor to the Company, whether actual or
5. NOM INATION:The Applicant, can make only one nomination for each deposit. Applicant shall
contingent, or whether primary or collateral, or whether joint and/or several, including
be required to down load the nomination form and take a printout of the same from the Website
without limitation indebtedness under any indemnity given by the Applicant/Depositorto IC IC I
and shall be required to submit the same to the Company either directly or through IC IC IB an k
Home Finance Company hereunder or under any other document/ agreement, by adjusting,
o ffic ia lor agent.
setting-off any deposit(s) and transferring monies lying to the balance of any account(s) held
6. SUCCESSION:Where a nomination has not been made or the nominee predeceases the
by the Applicant/Depositor with IC IC IHome Finance Company, notwithstanding that the
Depositor, the provisions of this paragraph will apply. In the event of the demise of the Depositor
deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as
of the Fixed Deposit, the Company will recognize the executor or administrators of the deceased
such indebtedness. IC IC IH o m e Finance Company’s rights hereunder shall not be affected by
Depositor, or holder of Succession Certificate or any other legal representative as the holder of the
the Applicant’s/Depositor’sbankruptcy, insolvency, death or winding-up.
b) In addition to the Company’srights of set-off, lien or any other right which it may at any time due) to which the Applicant/Depositoris at any time beneficiallyentitled (whether singly or
be entitled whether by operation of law, contract or otherwise, the Applicant /Depositor jointly) on any account, in the Applicant’s/Depositor’sname or jointly with any other person,
authorises IC IC IH om e Finance: (a) to combine or consolidate at any time all or any of the with any branch or office of IC IC IHome Finance (whether in India or elsewhere) towards the
accounts and liabilities of the Customer with or to any branch or office of IC IC IHome Finance satisfaction of any or all of the Applicant’s/Depositor’sliabilities (whether such liabilities be
(whether in India or elsewhere); and (b) to apply, set-off or transfer at any time (without
prior notice to the Applicant/Depositor ) any credit balance (whether or not then present or future, actual or