Terms and Conditions detailing offer Detail Rewardz Festival 2023

Introduction

1. 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).
2. Offer Period: The Offer Period is from 16th October 2023 to 15th November 2023 (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.
3. Excluded Products:
   • 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”), IndusInd Bank Avios Visa Infinite Credit Card, Club Vistara Explorer Credit Card, IndusInd Bank EazyDiner Credit Card and all the credit cards issued after 30th September 2023.
   • The Program is not applicable on Credit Cards with the assigned credit limit of below INR 30000.
4. Customer Registration: The Program is only applicable to Cardholders who have received communication for registration and 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
5. Only those Cardholders who have successfully registered within the registration window will 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.

General Conditions:

6. All the eligible Cardholders has been communicated 3 different targets through WhatsApp/SMS/Email. 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.
7. 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.
8. Exclusion to spends:
   • All Purchase transactions excluding payment of Insurance Premium, Rent & Real Estate Payments, government taxes, utility bill payments (Gas, Electricity etc) 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.
9. Cardholder will be eligible for benefits under this Program only if the Spends are equal to or greater than the Minimum Spend Level.
10. If any Customer is holding multiple eligible cards, any or both of the cards may be eligible. In such case, transactions on both the cards will be treated separately for the purpose of calculation of eligible total spends.
11. Upon meeting the Qualification Criterion, the Cardholder will be eligible for Bonus Reward Points as per the SMS/Email communication received
    Example: If a Customer has have received communication for 3X Reward Points; under this program, 3X Reward Points mean, the Reward Points earned under normal course (mentioned against the transaction in the statement) plus 2 times the bonus Reward Points (which will be credited later as Bonus Rewards on the fulfilment date).

Offer Details

Part A: Milestone Based Accelerated Reward Point Program

• Each eligible CardMember will get 3 different targets, namely Target 1, Target 2, and Target 3.
• For spending more than or equal to Target 1 but less than Target 2, CardMember will get 2X Reward Points on all eligible spends.
• For spending more than or equal to Target 2 but less than Target 3, CardMember will get 2X Reward Points on all eligible spends up to Target 1 and 3X Reward Points on all other remaining eligible transactions.
• For spending more than or equal to Target 3, CardMember will get 2X Reward Points on all eligible spends up to Target 1, 3X Reward Points on all eligible spends up to Target 2, and 5X Reward Points on the remaining eligible transactions.
• Please note that the eligible spends for the subsequent target will be calculated from the next day of the previous milestone achievement date.
• Maximum Bonus reward points that can be earned during the offer period is capped at 10,000.
  

Illustrative Example:

Prateek is an IndusInd Bank Credit Card holder who have successfully registered and received Target 1 = Rs. 50,000; Target 2 = Rs. 75,000 and Target 3 = Rs. 1,00,000

Scenario 1: Prateek Spent Rs. 30,000 including both eligible and ineligible category spends.

Prateek will not be eligible for any additional Reward Points, since he has not achieved his Target 1.

Scenario 2: Prateek Spent Rs. 60,000. Out of which Rs. 45,000 is eligible spends and Rs. 15,000 falls under excluded spends category.

Prateek will not be eligible for any additional Reward Points, since his eligible spends of Rs. 45,000 is less than his Target 1 of Rs. 50,000.

Scenario 3: Prateek Spent Rs. 95,000. Out of which Rs. 85,000 is eligible spends and Rs. 10,000 falls under excluded spends category.

Prateek will get 2X reward points on his eligible spends up to Target 1 (Rs. 50,000) , 3X Reward points for the remaining ~Rs. 35,000 eligible spends. He will not earn any accelerated reward points on the Rs. 10,000 excluded category spends.

Scenario 4: Prateek Spent Rs. 1,20,000. Out of which Rs. 1,10,000 is eligible spends and Rs. 10,000 falls under excluded spends category.

Prateek will get 2X reward points on his eligible spends upto Target 1 (Rs. 50,000), 3X Reward points for on his eligible spends between Target 1 (Rs. 50,000) and Target 2 (Rs. 75.000) and 5X Reward Points the remaining ~Rs. 35,000 eligible spends. He will not earn any accelerated reward points on the Rs. 10,000 excluded category spends. 

Further elaboration on Scenario 4:

Let us consider Scenario 4 and following transactions done by Prateek – 

*1 – This complete transaction will fall under 2X reward point.

*2 – This complete transaction will fall under 2X reward point as well. As all the eligible transactions done on 27^th Oct i.e. the day on which Target 1 was achieved. Calculation for next slab i.e. 3X will start from next day.

Part B: 5% Cash Back up to Rs. 3,000 on conversion of Outstanding to EMI

• Only those CardMembers who have successfully registered (opted in) and who are eligible for outstanding to EMI conversion will be eligible for cashback under this program
• Minimum outstanding to be converted is Rs. 25,000
• Offer is valid only on tenure of 6 months and above.
• If a CardMember requests multiple conversions, only those conversions > Rs. 25,000 will be considered for cashback
• Maximum Cash Back per CardMember is capped at Rs. 3,000 during the offer period
• EMI facility is at the Sole Discretion of the Bank. The Bank reserves the right to Approve or Decline requests to convert the Transactions to an EMI payment plan.
• Requests for EMI conversion can be placed through any channel - IndusMobile App, Using the link communicated to the customer, IndusNet, or through the contact center 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.

Fulfilment:

• Purchase Reversal Transactions posted on Cardholder’s Card Account during the communicated offer 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 during the communicated offer period 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.
• Bonus Reward Points under this Program will be credited/posted to the Cardholder’s Credit Card account within 90 days from the date of end of campaign period.
• In case the Cardholder has any issues/disputes regarding the discount/voucher he/she must raise his or her concerns before March 31, 2024. 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 the fulfilment/posting of Bonus Reward Points, 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.
• 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.