Opening of Savings Bank (Selfe Savings) Account through your Digital Platform.
I/we are aware of and undertake to you as follows:
1.Opening this Savings Bank account online through your digital platform has no intervention or role of the Bank except providing the facility of the digital platform.
2.The initial payment for the account shall be remitted only from a full KYC complied account.
3.I am/ we are aware that within 72 hours of account opening, per day debit transaction limit is a maximum of Rs. 2000/- (with a maximum transaction count of 5 per day). Post 72 hours, per day debit transaction limit is a maximum of Rs. 5000/- (with a maximum transaction count of 10 per day). Further, the monthly transaction limit is a maximum of Rs.20000. I/we shall visit branch to convert the account to a full KYC Regular Savings Account and enjoy the benefits.
4.The basis of the account opening is my/ our Aadhaar Card.
5.I/ we agree and hereby authorise Equitas Small Finance Bank to fetch my/ our personal details using OTP. Aadhaar E-KYC which will be used for KYC purposes. My/ our personal details are being drawn from the database maintained by UIDAI based on the Aadhaar number provided by me/ us. Bank is not responsible for any incorrect information that may appear in the data provided by me/ us.
6.The opening of the account will be confirmed only after I/ we enter the OTP number received to my/ our mobile number linked to and available in Aadhaar database.
7.As the details are drawn from UIDAI data base, they cannot be modified or altered by me/us.
8.I/ we are solely responsible for the data made available for opening the account.
9.The data may be lost or get distorted during transmission and I/ we shall not make the Bank liable or responsible for the same.
10.Since the opening of the account is through digital platform, there could arise technical fault or error during the opening of the account, which is beyond the control of the Bank and the Bank is not responsible for any loss in this regard.
11.In an event of mismatch in Aadhaar Details and PAN, I/ we acknowledge that the Bank has the right to reject our application and refund my/ our amount. If applicable.
12.If the KYC documents as specified by the Bank is not furnished within 12 months, the account would be closed immediately with/without any reference to me/ us.
13.Till such time, I/ we present the personal details for verification, there shall be restrictions on credits and debits in the account as per the guidelines issued by the RBI, which, as on date, restricts me/ us from holding aggregate credit balance of more than Rs.1 lakh in all the accounts held with Equitas Small Finance Bank and cumulative credit transaction carried out by me/ us would not exceed Rs.2 lakhs in a financial year. The account would be totally frozen until 12 months from date of account opening in case of breach of limits specified by RBI. The account could be operated only when the KYC documents as specified by Bank is furnished.
14.I/ we are also aware that if the verification has not been done by me/ us even beyond the 12 month period, Bank reserves the right to close the account without any reference to me/ us and I/ we will have to visit the branch for withdrawing the funds by providing valid documents as specified by the Bank. I/ we shall not have any claim or dispute with the Bank for any loss that may result to me/ us in this regard as it is solely attributable to me/ us.
15.Till I/ we furnish the KYC details in person to your branch for verification, I/ we are not entitled to debit card or POS machine transactions at any commercial outlets. If applicable.
16.Till I/ we present the KYC details in person to your branch for verification, I/ we are not allowed to carry out any transactions at the branch, further, I/ we are not entitled to cheque, cash, NEFT, RTGS and IMPS transactions through branch. However I/ we are permitted to carry out online/ digital transactions through Net banking/ Mobile banking. If applicable.
17.I/ we declare that no other account has been opened nor will be opened using OTP based Aadhaar e-KYC within the same Bank or with any other bank.
18.I/ we are aware that the link for opening Selfe Account uses cookies to ensure best experience.
19.I/ we agree that this and such account will be subject to regular scrutiny and monitoring from the bank and bank shall have the right to place the account under total freeze/ debit freeze/ close the account at its sole discretion, in case of suspicious transactions or transactions not inconsistent with RBI guidelines relating to the account.
20.I/ we do agree to all the general Terms & Conditions which can be accessed at:
21.Available balance in the account during closure will be refunded to customers Aadhaar linked bank account after deducting the applicable charges.In case of any discrepancy/rejections , demand draft will be issued & dispatched to registered address
22.To avail Direct Benefit Transfer– please convert your account to Fully KYC by visiting nearest branch.
