||No more documentation (such as DP Note, Letter of Continuity, Letter of Waiver, Letter of Lien etc.) is required, as the lien is covered by the terms & conditions of the deposit itself.
|Rate of Interest on rollover of dues
||Interest will be charged @1.20% p.m. after free credit period up to a maximum of 55 days.
|Cash withdrawal at ATMs
||100% cash withdrawal facility available to the extent of credit limit (80% of deposit amount subject to a maximum of Rs.4,00,000/-). No “free credit period” will be available for cash withdrawal. Cash withdrawal will attract interest @ 1.20% pm right from the date of withdrawal. Transaction fee of Rs.100/- per withdrawal will also be levied.
|Personal Accident Cover
||Personal accident cover (against death) of Rs. 1,00,000/- (Rupees one lac only) is available to the sole/first named depositor under Group Insurance Scheme.
||Aspire Credit Card will be valid for a period of 3 years. The card shall be terminated in case of premature withdrawal against/after adjustment of card dues or in case customer desires to close the deposit on maturity within the validity of Aspire Credit Card.
||Allowed, subject to FEMA guidelines.
|Fees & charges
||As per Annexure-II
|Other operational aspects
- In case of Monthly Interest Deposit Scheme (MIDR), the interest will be paid at discounted rate
as per the extant guidelines. The interest shall be paid periodically and credited to customer’s
account. There shall be no lien on interest on these deposits.
- Prescribed combined Application Form (Aspire) will be obtained along-with mandatory KYC documents from customers. These shall be scrutinized and retained at branch for records and audit.
- Aspire Credit Card / Pin shall be dispatched to the base Branch within 7 days via POST / Courier. Pin and Card will be sent separately. Branch will deliver the same to the customer against proper acknowledgement.
- Facility for standing instruction (auto-debit) for recovery of card dues (full or minimum amount due) from Savings account of the customer, shall be available as per existing practice.
- Premature withdrawal of deposit shall be allowed, subject to liquidation of all outstanding dues and surrender of Aspire Credit Card. On surrender of Aspire Credit Card, base branch will initiate closure request and thereafter, the procedure for closure of deposit shall be followed. Mandate is built-in in the application form itself for adjusting the proceeds of deposit, even before maturity of the term deposit against the card dues, if the customer fails to pay bills within the due date and card dues turn NPA.
||Product is presently not available to NRI customers. However, Bank may make the product available to NRI customers in due course.
|For More details and Important T & C of Aspire Credit Card
||Please contact your nearest Branch.