Terms and Conditions: EMI Plan for Insurance Payment

• The 'Complete protection with the convenience of easy EMIs' ("Offer") is open to Select IndusInd Bank Credit Cardholders ("Eligible Cardholders") who have a valid and open IndusInd Bank Credit Card
• The offer is valid for Insurance Premium transactions ("Eligible transactions") made by eligible cardholders using their IndusInd Bank Credit Card between February 15, 2015 and March 31, 2015 ("Offer Transaction period")
• Eligible Cardholder can request for convert of their eligible transactions into EMI’s at 12% per annum rate of interest for 6, 12, 18 or 24 month EMIs at 0% processing fee and 0% preclosure fee ("Offer rate") anytime between February 15, 2015 and April 15, 2015 ("Offer conversion period")
• For the purpose of ascertaining Spends Category on Domestic Spends, Merchant Category Code (MCC) as defined by Visa / MasterCard / American Express will be applicable.
• Only transactions classified as Insurance premium by Visa/MasterCard/American express cards for conversion at Offer rates
• Only Eligible transactions made during Offer transaction period will be eligible for conversion into EMI at Offer rates.
• EMI Conversion requests received for conversion after the Offer conversion period will not be eligible for EMI conversion at Offer rates
• IndusInd Bank will not be responsible, if any Merchant Establishment has not mapped its MID (Merchant ID) under the correct MCC
• The EMI facility is available for transactions above Rs. 2,000
• Offer rate is valid only for 6 month, 12 month, 18 month or 24 month tenor EMI
• The Cardholder may convert a maximum of ten purchases into EMIs subject to the Credit Limit on the Card Account(s) including any existing outstanding EMIs
• For all subsequent statements of the Cardholder, until the tenor of the loan gets over, the EMI will be billed as part of Minimum Amount Due for that particular card.
• Any requests for change in the EMI facility opted for has to be made in writing or by calling the 24 Hour Phone Banking number.
• Upon Pre-closure of the loan, the entire principal outstanding will be billed to the Cardholder. If the Cardholder chooses not to pay the entire amount and opts to revolve, then the entire amount will attract normal Credit Card interest rate
• In case any portion of the billed and outstanding charges is not permitted to be paid in EMIs or such portion is not paid by the Payment Due Date, the same will bear and carry a late payment charge and standard credit card interest charge.
• The amount of down payment, transaction fee and charges, tenure for the payment of EMIs and other payment particulars will be Cardholder specific as the Bank may ascertain.
• IndusInd Bank reserves the right at any time without previous notice to add, alter, modify, change or vary all or any of these Terms and Conditions or to replace, wholly or in part, this scheme by another scheme, whether similar to this scheme or not, or to withdraw it altogether; which if done shall be binding on the cardholder and the cardholder shall abide by the said rules. If withdrawn, those who have opted shall continue to get the right to pay through EMIs for the already approved conversion.
• Final approval of such conversion shall be at the sole discretion of IndusInd Bank and is subject to the performance on the Credit Card. The participant will not hold the bank responsible for failure to convert Insurance payments made using IndusInd Bank Credit Card into EMIs
• The participants will not hold the Bank responsible for or liable for, any actions, claims, demands, losses, damages, costs, charges, and expenses that a participant may suffer, sustain or incur by way of this offer
• The Bank through this offer does not promote sale of any insurance and is not responsible for the services offered by the insurance companies
• Service Tax may be levied to the cardholder as applicable from time to time
• Nothing contained herein should be construed as an obligation on IndusInd to offer the above-mentioned products.
• IndusInd reserves the right at any time, with previous notice, to add, alter, modify, change or vary all or any of these Terms and Conditions or to replace wholly.
• Participation in the Promotion is purely on a voluntary basis and this Promotion shall be in addition to and not in substitution/abrogation of any other features and benefits of the Card
• The above mentioned Terms and Conditions pertain only to the Offer. Cardholders are advised to refer to Cardholder’s Agreement and Most Important Terms and Conditions for terms of usage of Credit Card. For details log on to the Bank’s website - www.indusind.com