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IndusInd Savings Account Offer - Get up to 25% cashback for 3 months on dining & grocery spends with your IndusInd Bank Credit Card.
Terms and Conditions:
-This Cashback offer is applicable to IndusInd Bank Credit Card Customers who hold a valid and open IndusInd Bank Credit Card (Cardholder) account and do not have an IndusInd Bank Savings account as of 28th December, 2020 or IndusInd Bank Cardholders who open their Credit Card account post 28th Dec & Subsequently Open their IndusInd Bank Savings account.
- Such IndusInd Bank Credit Card Customers opening an IndusInd Bank Savings account will be eligible for Cashback on their eligible Credit Card spends on select Merchant categories, the quantum of such Cashback will be as follows:
>10% Cashback, capped upto Rs. 750, if IndusInd Bank Savings account is opened with Initial Funding between Rs. 10,000 to less than Rs. 20,000
>15% Cashback, capped upto Rs. 1,250, if IndusInd Bank Savings account is opened with Initial Funding between Rs. 20,000 & less than Rs. 50,000
>25% Cashback, capped upto Rs. 1,750, if IndusInd Bank Savings account is opened with Initial Funding Rs. 50,000 or More
-Merchant Categories included for Cashback – Dining, Takeaway, Grocery and Supermarket (both Online and Offline) as defined by Visa/MasterCard/American Express.
-Transactions are classified into Merchant Category Groups (MCG) as defined by Visa/MasterCard/American Express. Only transactions under the eligible merchant categories will be considered for the purpose of calculating spends. IndusInd Bank will not be responsible, if any Merchant Establishment has not mapped its MID (Merchant ID) under the correct MCG.
-Initial Funding would imply End of Day Balance in IndusInd Bank Savings account in any of the 7 days’ post day of Savings account opening. Cashback eligible months – The Cashback will be given on Promoted Merchant Categories for 3 months subsequent to the month of Savings account opening; i.e. If Savings account is opened in December 2020, Credit Card Spends of January, February and March – 2021 will be eligible for applicable Cashback.
Cashback Credit -
-In the event of customers holding multiple IndusInd Bank Credit Cards, only one Credit Card will be eligible for the Cashback offer. The eligible Credit Card will be the card having the highest qualified MCG spends during the Cashback eligible months.
-Customers who become delinquent (as defined by IndusInd Bank) during the course of the promotion will not be eligible for the Cashback.
-Cashback will be posted in the Card account in the subsequent month post the 3 months spends window. In the above example for Customer opening Savings account in December 2020, Cashback on promoted Merchant categories will be applicable for January, February and March 2021 spends and will be posted in the Card account by 30th April, 2021.
-In the event of multiple savings accounts opened during the offer period, the savings account opened rst (basis chronology) will be considered for qualification & calculation of cashback.
-Customer’s Savings Account must be active & not be closed at the time of cashback processing in his Credit Card account. Purchase Reversal Transactions posted on Cardholder’s Card Account during the Program Period 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 the fulfillment date will be considered for calculating spends achievement under this program.
-The Bank will not be responsible if a transaction authorized by the Bank has not been settled by the Merchant by the program fulfillment date. The Bank at its sole discretion can decide Cardholders who can avail this promotion. Delinquent Credit Card Customers 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 posting of the Cashback; will be ineligible for the benefits of this Program. For Eg Card Holders Opening IndusInd Bank Savings account in Dec’20 should not come Delinquent on Their Card account before 30Th April 2021
-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 Credit Card and shall at all times be read along with 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 Condition.
Terms and Conditions:
-This Cashback offer is applicable to IndusInd Bank Credit Card Customers who hold a valid and open IndusInd Bank Credit Card (Cardholder) account and do not have an IndusInd Bank Savings account as of 28th December, 2020 or IndusInd Bank Cardholders who open their Credit Card account post 28th Dec & Subsequently Open their IndusInd Bank Savings account.
- Such IndusInd Bank Credit Card Customers opening an IndusInd Bank Savings account will be eligible for Cashback on their eligible Credit Card spends on select Merchant categories, the quantum of such Cashback will be as follows:
>10% Cashback, capped upto Rs. 750, if IndusInd Bank Savings account is opened with Initial Funding between Rs. 10,000 to less than Rs. 20,000
>15% Cashback, capped upto Rs. 1,250, if IndusInd Bank Savings account is opened with Initial Funding between Rs. 20,000 & less than Rs. 50,000
>25% Cashback, capped upto Rs. 1,750, if IndusInd Bank Savings account is opened with Initial Funding Rs. 50,000 or More
-Merchant Categories included for Cashback – Dining, Takeaway, Grocery and Supermarket (both Online and Offline) as defined by Visa/MasterCard/American Express.
-Transactions are classified into Merchant Category Groups (MCG) as defined by Visa/MasterCard/American Express. Only transactions under the eligible merchant categories will be considered for the purpose of calculating spends. IndusInd Bank will not be responsible, if any Merchant Establishment has not mapped its MID (Merchant ID) under the correct MCG.
-Initial Funding would imply End of Day Balance in IndusInd Bank Savings account in any of the 7 days’ post day of Savings account opening. Cashback eligible months – The Cashback will be given on Promoted Merchant Categories for 3 months subsequent to the month of Savings account opening; i.e. If Savings account is opened in December 2020, Credit Card Spends of January, February and March – 2021 will be eligible for applicable Cashback.
Cashback Credit -
-In the event of customers holding multiple IndusInd Bank Credit Cards, only one Credit Card will be eligible for the Cashback offer. The eligible Credit Card will be the card having the highest qualified MCG spends during the Cashback eligible months.
-Customers who become delinquent (as defined by IndusInd Bank) during the course of the promotion will not be eligible for the Cashback.
-Cashback will be posted in the Card account in the subsequent month post the 3 months spends window. In the above example for Customer opening Savings account in December 2020, Cashback on promoted Merchant categories will be applicable for January, February and March 2021 spends and will be posted in the Card account by 30th April, 2021.
-In the event of multiple savings accounts opened during the offer period, the savings account opened rst (basis chronology) will be considered for qualification & calculation of cashback.
-Customer’s Savings Account must be active & not be closed at the time of cashback processing in his Credit Card account. Purchase Reversal Transactions posted on Cardholder’s Card Account during the Program Period 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 the fulfillment date will be considered for calculating spends achievement under this program.
-The Bank will not be responsible if a transaction authorized by the Bank has not been settled by the Merchant by the program fulfillment date. The Bank at its sole discretion can decide Cardholders who can avail this promotion. Delinquent Credit Card Customers 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 posting of the Cashback; will be ineligible for the benefits of this Program. For Eg Card Holders Opening IndusInd Bank Savings account in Dec’20 should not come Delinquent on Their Card account before 30Th April 2021
-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 Credit Card and shall at all times be read along with 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 Condition.
