Terms and conditions - Honest EMI on Edge CSB RuPay Credit Card

Issued by CSB Bank

These terms and conditions apply to EMI Facility availed on Edge CSB Bank RuPay Credit Card. By availing the EMI Facility, it shall be deemed that the Cardholder have accepted the below terms and conditions.

1. Definitions and Interpretation

1.1 “Credit Card” means Edge CSB Bank RuPay Credit Card issued by CSB Bank in partnership with its co-branding partner Europa Neo Marketing Private Limited through Jupiter App

1.2  "Cardholder " means the individual to whom a Edge CSB Bank RuPay Credit Card has been issued by CSB Bank.

1.3 "Credit Card" means CSB Bank Edge Credit Card which has been issued by CSB Bank in partnership with its co-branding partner Europa Neo Marketing Private Limited through Jupiter App and is valid and subsisting at the time when the Facility is requested by the Cardholder .

1.4 “Equated Monthly Instalment (EMI)” shall mean Facility wherein purchase(s) are converted into instalments at a rate as communicated at the time of availing the EMI. EMI debited would include the Principal + Interest + applicable Goods & Services Tax (GST).

1.5 "Facility" means an option provided by the CSB Bank to the Cardholder for choosing to pay for retail transactions made on the Credit Card in installments, subject to the terms of your Facility, to the extent of amounts not exceeding the available cash-limit / credit-limit.

These Terms are to be read in conjunction with, and not in derogation of, Edge CSB Bank RuPay Credit Card Most Important Terms and Conditions (“MITC”) as well asEdge CSB Bank RuPay Credit Card Terms and Conditions (“T&C”) and nothing contained herein shall prejudice or affect the terms and conditions of the MITC and the T&C.

2. Eligibility for EMI Facility

2.1 The Cardholder can convert settled and unbilled transactions starting from ₹2,500 into EMI

2.2 CSB Bank reserves the right to decide the eligibility of the Cardholder for extending EMI Facility, as per internal policy and guidelines.

2.3 The final approval for the EMI Facility is subject to several factor, including :

2.3.1 performance of the Cardholder 's Credit Card;

2.3.2 available credit-limit on the Credit Card at the time CSB Bank receives the Cardholder's request for the Facility and the value of the transaction;

2.3.3 applicable laws and the internal policies of CSB Bank.

2.4 Certain categories of transactions as listed in the Schedule hereto are not eligible for the EMI Facility.

2.5 In particular, transactions related to gold in any form including the jewellery cannot be converted into EMI in view of guidelines issued by the Reserve Bank of India from time to time.

2.6 Multiple transactions can be clubbed and converted to a single EMI plan.

2.7 On converting transactions to EMI, the Jewels rewarded against the particular transactions will be clawed back. Jewels will not be credited back in case of EMI cancellation or foreclosure.

2.8 The cash-limit and/or the credit-limit on the Credit Card will be blocked by the amount for which the Facility is granted. The Cardholder  shall be charged an interest rate or a processing fee or a combination of interest rate and processing fee as specified by CSB Bank to the Cardholder  at the time of availing the Facility.

2.9 Goods and Services Tax (GST) will be applicable on processing fee, interest and foreclosure charges as per the applicable laws.

3. Charges and Interest rates Applicable

3.1. The interest charges on EMI transactions are charged at a rate communicated to the Cardholder at the time of availing of the Facility and on a monthly reducing balance. CSB Bank reserves the right to change the offered EMI interest rate from time to time and furthermore, reserve the right to simultaneously offer different EMI interest rates for different transactions across different tenures.

3.2. Any change in the EMI interest rate shall not affect EMI transactions already getting billed on the card prior to the effective date of that change.

3.3. Once the EMI tenure has been chosen by the Card member, it cannot be changed.

3.4 The current applicable interest rate is 1.33% per month or 16% per annum for all the available tenures.

Processing Fee

A processing fee of ₹99 or 1% of the total amount being converted to EMI, whichever is higher, will be charged on availing the EMI Facility.

Goods and Services Tax (GST) will be applicable on processing fee, interest and foreclosure charges as per the applicable laws.

4. Repayment

4.1 The Cardholder shall repay the principal amount and interest thereon in EMIs. The interest shall be at such rate which has been indicated by CSB Bank to the Cardholder at the time of EMI booking

4.2 The interest component for the first instalment shall be computed from the EMI booking date

4.3 The amount of the EMIs together with other details of the Facility (including rate of interest) shall be also communicated to the Cardholder  at his/her registered email/mailing address.

4.4 The amount of EMI due for a particular month shall subsequently be reflected in the Credit Card statement of account (the "Statement") of that particular month.

4.5 The aggregate of all EMI instalment amounts for any billing period will be added to the minimum amount due calculated for all other transactions or outstanding balances for that billing period

4.6 The Cardholder  shall make payment of the EMI and all other charges on Jupiter App. The Cardholder  shall be required to pay the entire amount of the EMI for a particular month on the payment due date, as indicated in the statement and the same shall not be permitted to be carried forward/included in the next statement.

4.7 In the event the payment is not made by the payment due date as specified, it shall be construed as a default by the Cardholder  and Cardholder  shall become liable to pay the outstanding amount i,e. principal, interest rate (applicable on revolving),  and  together with late payment charges.

5. Cancellation of EMI Facility

The Cardholder may cancel the EMI Facility within 3 days of EMI conversion or before the bill generation, whichever is earlier. The cardholder can request for cancellation via the Jupiter app. In the case of cancellation, the original transaction amount which was converted into EMI shall be debited back to the cardholder account and all charges relating to such EMI conversion shall be reversed.

6. Foreclosure of EMI Facility

6.1 The Cardholder  may close the Facility at any time before the scheduled closure via the Jupiter App. We will accept your request on the date of your foreclosure request.

6.2 The Foreclosure Amount payable by you in order to close your EMI, shall be updated in the next statement of your Credit Card.

6.3 Foreclosure charge of 3% on the remaining principal amount, as applicable, will be charged if the EMI Facility is closed before the completion of the EMI tenure.

6.4 CSB Bank shall, without prejudice to all rights and remedies, have the right to call upon the Cardholder to repay the principal outstanding amount due under EMI Facility, all interest thereon and all other monies in respect of the Facility upon occurrence of event of default in payment of EMI and the Cardholder  shall be liable to repay all such amounts upon such demand.

Note: Foreclosure Amount referred as clause (6.2) herein above shall be the sum of foreclosure fees, outstanding principal, and interest payable along with applicable taxes.

7. Particular Affirmative Covenants

7.1 The Cardholder  has understood CSB Bank's method of calculating EMIs payable as communicated by CSB Bank at the time of availing the Facility .

7.2 The Cardholder  shall renew the Credit Card forthwith in the event the period of the card expires during the tenure of the Facility. In the event of failure of the Cardholder  to renew the Credit Card as stated above, CSB Bank shall be entitled to call upon the Cardholder  to forthwith repay the Facility without prejudice to all rights and remedies against the Cardholder .

7.3 The Cardholder  is deemed to have accepted these terms and conditions upon the Cardholder having requested for the Facility.

7.4 Repayment by the Cardholder  of the entire amount of the Facility to CSB Bank shall release the credit limit and/or cash limit for which the Cardholder  is eligible by virtue of holding the card.

7.5 The Cardholder  shall make payment of all taxes, duties, levies (including Goods and Services tax) in connection with the Facility.

7.6 These terms and conditions to the Facility shall be read in conjunction with Primary Terms and Conditions and Amortisation Letter shared at the time of conversion of the EMI.

8. Liabilities of the Cardholder

CSB Bank reserves the right to require the Cardholder to make advance payment of one or more EMIs against grant of the Facility, and CSB Bank shall have the right to adjust the amount of the advance EMIs towards the balance amount of the Facility, at its sole discretion.

9. Events of Default

If one or more of the events specified in this Clause ("Events of Default") occur or shall have occurred, CSB Bank may foreclose the Facility by a notice in writing to the Cardholder .

9.1 The Cardholder's commission of a breach of any of the terms and conditions along with covenants herein contained or having made any misrepresentation to CSB Bank.

9.2 The Cardholder ’s having been declared as an insolvent.

9.3 Any proceedings for misconduct having been initiated against the Cardholder .

9.4 The Cardholder ’s failure to furnish any information or documents that may be required by CSB Bank.

9.5 The Cardholder ’s entering into any composition with his/her creditors.

9.6 The existence of any other circumstances which, in the sole opinion of CSB Bank, jeopardize CSB Bank's interest.

9.7 Upon the occurrence of any event of default as specified above, CSB Bank shall be entitled to exercise rights and remedies available to it under these terms and conditions as also the primary terms and conditions

Schedule

1.     Financial institutions automated cash disbursements

2.     Bail and bond payments

3.       Betting, including lottery tickets, casino gaming chips, off-track betting and wagers at race tracks

4.     Charitable and social service organizations

5.     Civic, social and fraternal associations

6.     Clock, jewelry, silverware or watch stores

7.     Court costs, including alimony and child support

8.     Dating and escort services

9.     Debt collection agencies

10.   Digital goods: games

11.   Direct marketing catalog merchants

12.   Direct marketing continuity/subscription merchants

13.   Financial institutions manual cash disbursements

14.   Financial institutions merchandise and services

15.   Fines

16.   Government-licensed casinos (online or internet gambling)

17.   Government-licensed horse/dog racing

18.   Government-owned lottery

19.   Large digital goods merchant

20.   Motor vehicle supplies and new parts

21.       Non-financial institutions foreign currency, money orders (not wire transfer), scrip and travelers checks

22.   Pawn shops

23.   Political organizations

24.   Precious stones and metals, watches and jewellery

25.   Professional services not elsewhere classified

26.   Quasi cash–member financial institution

27.   Real estate agents and managers–rentals

28.   Religious organizations

29.   Rent

30.   Securities brokers and dealers ipo

31.   Wallet

32.   Wire transfers and money orders

33.   Wrecking and salvage yards

34. Precious stones and metals, watches, silverware and jewellery