Terms and Conditions THE REWARDZ FESTIVAL 2022

Introduction

• The IndusInd Bank Limited (“IndusInd Bank” or “Bank”) “The Rewardz Festival” offer (Program) is open to selected customers holding a valid and open IndusInd Bank Credit Card (Cardholder).
• The program is not applicable to IndusInd Bank Corporate Cards, IndusInd Bank Classic/Gold Credit Cards, InterMiles IndusInd Bank Odyssey Credit Card, InterMiles IndusInd Bank Voyage Credit Card, IndusInd Bank WorldMiles Credit Card and IndusInd Bank Chelsea Credit Card (“excluded cards”) and all the credit cards issued after 15th August 2022.
• The Program is not applicable on Credit Cards with the assigned credit limit of below INR 30000.
• The Program is only applicable to Cardholders who have expressed their interest to participate in The Rewardz Festival during the registration period. Cardholders would have registered their interest through any of the following modes and get a registration confirmation:
  • By sending an SMS with text:  JOIN to 5676757 from the Mobile Number registered with the Bank
  • By Clicking on the Link provided in the Emailer sent to the customer’s registered Email ID
  • By Calling the Customer Service helpline
• Cardholders who have not confirmed their participation before 30th September 2022 (11:59:59 pm) will not be Eligible for any Benefits under this Program. On receipt of the registration from the Cardholder, the Bank will send an SMS with a registration number. Cardholders are advised to resend the Confirmation of participation if no registration SMS has been received from the Bank.

Program Details:    

• A minimum Spend level for each eligible Cardholder (“Spend Level or Minimum Spend Threshold”) has been communicated through Email/SMS. The Spend thresholds have been set for each Cardholder depending on factors such as, but not limited to, credit history, purchase patterns, payment behaviour, credit limit, loyalty, maximum historic spend and vintage of the Cardholder.
• For the purpose of this Program, Spends would mean the sum of all Purchase Transactions done using the IndusInd Bank Credit Card through Point of Sale (Card Present) Purchase, Online or E-Commerce/M-Commerce Internet Transaction, IVR Transaction, Mail Order/Telephone Order Transaction, Payment towards wallet loading and Standing Instruction executed during the offer period.
• All Purchase transactions excluding payment of Insurance Premium, Rent & Real Estate Payments, government taxes, bill payments and payment of fee towards school or educational program will be considered for the purpose of calculating Achievement towards the Spend Levels.
• Cash Withdrawals, Fees, Interest Charges, any other charges, EMI, Loan taken on the Credit Card and any transaction other than a Purchase Transaction will not be considered for the purpose of calculating achievement towards the Spend Levels (Exclusion to Spend).
• The Offer Period is from September 25th 2022 to October 31st 2022 (both days inclusive). Thus only Spends (defined above) done in the Offer period on the Eligible Credit Card holders who have successfully registered will be considered for the purpose of calculating Spends achievement in this Program.
• Cardholder will be eligible for benefits under this Program only if the Spends are equal to or greater than the Minimum Spend Level.

Offer Details

Part A: Brand Voucher for meeting spends targets

If the Cardholder achieves Spends equal to or greater than the minimum spends target communicated to the cardholder, he will be eligible for Vouchers from leading brands as per the communication.
Eligibility for Voucher reward from leading brands:  

• The cardholder should have successfully registered for the festival.
• If the Cardholder achieves Spends equal to or greater than the minimum Spend Level (Cardholder will be eligible for Voucher from leading brands according to the communication
• Spends that will attract Vouchers will exclude payment of Insurance Premium, Rent & Real Estate Payments, government taxes, bill payments and payment of fee towards school or educational program payment.
• Cardholders eligible for vouchers can select from wide variety of leading brands available in various denominations. The value of the Gift Vouchers will be mentioned in the Offer communication.
• Maximum of 1 Gift Voucher will be given to one Cardholder during the Offer Period.

Part B: Up to 50% Off on Processing fees on EMI Purchase and conversion of Outstanding to EMI

• If the Cardholder achieves Spends equal to or greater than the minimum Spend Level, Cardholder will be eligible for up to 50% off on Processing fees.
• For the purpose of this Program, the minimum spends threshold should be achieved during the Offer period. However, the outstanding amount to be converted to EMI may consist of transactions done before or after the Offer period, the (up to) 50% off on PF will be valid for purchases made only during the Offer period; i.e. from 25th September 2022 to 31st October 2022 by Eligible Cardholders who have successfully registered to participate and achieved minimum spend level.
• No discount on processing fee will be given for conversion of outstanding to EMI for purchase transactions made outside the above stated offer period.
• Minimum Conversion amount (Outstanding) should be equal to or more than 50% of the Festive spends target (as communicated to respective customers) to be eligible for benefits under this Program.
• EMI facility is at the Sole Discretion of the Bank. The Bank reserves the right to Approve or Decline request to convert the Transactions to EMI payment plan.
• Offer is valid only on tenure of 6 months and above.
• Period for Conversions of the outstanding is from 25th September 2022 to November 15th, 2022. Cardholders who fail to convert their festive purchases till 15th November 2022 will not be eligible for the 50% discount in the processing fee under this Program.
• Request for EMI conversion can be placed through any channel - IndusMobile App, IndusNet or through contact centre or Tele-calling channel.
• Interest & Processing fee will be applicable as per the rates decided & disclosed by the Bank at the time of conversion of outstanding to EMI.
• Pre-closure Fee of 3% with GST will be applicable in case of any pre-closure.
• Processing Fee, as communicated to the Cardholder will be applicable.
• All other terms & conditions of outstanding to EMI are applicable.

Examples

Note: The examples are for indicative purpose only. Original spend target and the corresponding brand voucher value may be different.

Say, Arun is a cardholder with IndusInd Bank

• On Receiving the Communication, Cardholder Registers for the Program Period
• Minimum Spends Levels Rolled out to the Cardholder:

“Spend INR 1,00,000 during the offer period and earn a brand voucher of INR 500”

Scenario 1: Cardholder spends less than Spend Target of INR 1,00,000

Under this scenario, Arun will not be eligible for any benefits under this Program.

Scenario 2: Arun spends INR 30,000 on Insurance Premium and Rent Payments and INR 90000 on other eligible purchases

Under this scenario,

• Brand Voucher on eligible spends done - Arun will not be eligible as minimum spends threshold not achieved on eligible spends since Insurance Premium & Rent Payments are excluded
• Up to 50% discount on processing fee for EMI purchase or converting Outstanding to EMI– Not applicable for same reason as above

Scenario 3: Arun spends INR 30,000 on Insurance Premium and Rent Payments and INR 1,10,000 on other eligible purchases and did not convert Outstanding to EMI and made no EMI Purchases

Under this scenario,

• Brand Voucher on eligible spends done - Arun will be eligible
• Up to 50% discount on processing fee for EMI purchase or converting Outstanding to EMI– Arun will not be eligible as no EMI purchases done and outstanding is not converted to EMI within the time period

Scenario 4: Arun spends INR 30,000 on Insurance Premium and Rent Payments and INR 1,10,000 on other eligible purchases and converted INR 40,000 Outstanding to EMI and made no EMI Purchases

 Under this scenario,

• Brand Voucher on eligible spends done - Arun will be eligible
• Up to 50% discount on processing fee for EMI purchase or converting Outstanding to EMI– Arun will not be eligible, because his EMI purchase + Outstanding conversion of INR 40,000 was less than the 50% of the spends target of INR 1,00,000.

Scenario 5: Arun spends INR 30,000 on Insurance Premium and Rent Payments and INR 1,10,000 on other eligible purchases and converted INR 40,000 Outstanding to EMI and made EMI Purchases of INR 20,000

 Under this scenario,

• Brand Voucher on eligible spends done - Arun will be eligible
• Up to 50% discount on processing fee for EMI purchase or converting Outstanding to EMI– Arun will be eligible, because his EMI purchase + Outstanding conversion of INR 60,000 was more than the 50% of the spends target of INR 1,00,000.

Scenario 6: Arun spends INR 30,000 on Insurance Premium and Rent Payments and INR 1,10,000 on other eligible purchases and converted INR 40,000 Outstanding to EMI and made EMI Purchases of INR 20,000. But, INR 25,000 worth transactions were reversed between 25th September 2022 and 15th November 2022

Under this scenario, Arun will not be eligible of any offer benefit as his net eligible spend during the period was (INR 1,10,000 – INR 25,000) INR 85,000, which is less than eligible spend target of INR 1,00,000. 

Fulfilment:

• Vouchers or discount under this Program will be awarded only if the Cardholder achieves his or her Minimum Spend Level. No Voucher/discount will be awarded if the Cardholder does not achieve his or her minimum Spend Level
• Purchase Reversal Transactions posted on Cardholder’s Card Account during 25th September 2022 to 15th November 2022 i.e. the Program Period plus two weeks, will be deducted from the Spends for the Purpose of calculating Spends Achievement irrespective of whether the Original Transaction corresponding to this Reversal was done during the Program Period or before the Program Period.
• Only Settled Transactions; i.e. Transactions done during the Program Period and which have been successfully posted into the Cardholder’s Card Account by November 7th, 2022 will be considered for calculating achievement under this Program.
• The Bank will not be responsible if a Transaction Authorized by the Bank has not been settled by the Merchant.
• Discount and Voucher under this Program will be credited/posted to the Cardholder’s Credit Card account latest by January 31, 2023.
• Cardholders eligible for vouchers can select from wide variety of segments such as ecommerce, food/grocery aggregators/delivery partners, fashion and apparel from leading brands. Cardholders who qualify will be given a choice to select Gift voucher from the list of brands available.
• Vouchers will be shared with clients on their registered mobile numbers and emails by January 31, 2023. TnC of respective vouchers and voucher providers will be applicable.
• In case the Cardholder has any issues/disputes regarding the discount/voucher he/she must raise his or her concerns before March 31, 2023. Any disputes raised post this date will not be entertained by the Bank. 

Other generic Terms & Conditions & Definitions:

• Spends made using the Add-on Credit Card(s) will accrue in the account of the Primary Cardholder for calculating Achievement under this Program.
• In case a Cardholder, is holding two or more Eligible Credit Cards from IndusInd Bank, the minimum spend thresholds on each Card account may differ. In such a scenario, the Spends done on one Card account will not be added/clubbed with Spends done on the other Card account. Each Credit Card account will be considered separately. 
• If the Cardholder upgrades or downgrades his/her Credit Card to any of the excluded cards before 31st December 2022, the Cardholder will not be eligible for any benefits under this Program.
• To be eligible for participating in the Program, the Cardholder must maintain a clean payment record in respect of his/her Credit Card i.e. the Cardholder should not have failed to pay the minimum amount due on his/her Card during the Offer Period or before fulfilment of the program benefit.
• IndusInd Bank shall not be liable or responsible for non-receipt or delivery of any SMS/other communication relating to this Program due to any reason beyond the control of IndusInd Bank.
• In case of Vouchers, IndusInd Bank's responsibility in the offer is limited to sending the voucher to the Eligible Cardholders on their registered mobile number and email address either directly or through 3rd party vendors. The Cardholder hereby agrees that voucher brand is solely responsible for the acts and omission relating to the Vouchers including but not limited to, availability of products in accordance with the preferences of the Cardholder
• Standard terms and conditions of respective Brand Gift Voucher will apply for utilisation of the vouchers. Customers are requested to read brand specific T&C available at the time of selection of vouchers. Any dispute related to the voucher redemption shall be directly taken up with the respective brands.
• The participation in the Program shall constitute deemed acceptance by the Cardholder of all the terms and conditions governing the Program.
• All applicable taxes, duties, levies of whatsoever nature in connection with the Program shall be borne solely by the Cardholder.
• The Bank at its sole discretion can decide Cardholders who can avail this Program. Delinquent Credit Card members will not be eligible for the benefits of this offer. "Delinquent Credit Card Account" means an account of a Cardholder which has an outstanding which is past due or which, in the sole opinion of the Bank, has unsatisfactory credit standing. Cardholders whose Credit Card accounts are currently delinquent or become delinquent at any time before the communication of the offer or during the Offer Period, will be ineligible for the benefits of this Program.
• If the Cardholder ceases to be a Cardholder at any time during the Program Period or before or after the communication of the offer until fulfilment of offer benefit is completed, all benefits under the Program shall lapse. This includes any relationship terminated either by the Bank or the Cardholder.
• In all matters relating to the Program, the decision of IndusInd Bank shall be final and binding in all respects.
• The Bank reserves the right at any time without prior notice to add, alter, modify, all or any of these Terms and Conditions or replace, wholly or in part, this Program by any other Program, whether similar or different to this Program or to withdraw it altogether without giving prior notice.
• The Terms and Conditions of the Program shall be in addition to and not in substitution/derogation to the Primary Terms and Conditions governing the Card and shall at all times be read along with the terms of the Cardholders’ Agreement and such other terms and conditions that the Bank may deem appropriate at its sole discretion. Any irreconcilable contradiction between the terms and conditions contained herein and the Cardholders’ Agreement, then the terms of the Cardholders’ Agreement to prevail the present conditions.
•  Any disputes arising out of this Program shall be subject to the exclusive jurisdiction of competent courts in Mumbai only.