Dear Priority Banking Customer,

Thank you for your application for commencing a relationship with Standard Chartered Priority Banking. To ensure that there is clarity regarding the Bank’s terms, we request you to go through some of the important conditions listed below governing the relationship and sign your acceptance of the same. Your acceptance will confirm having received, read and understood the Most Important Document (MID), The Priority Banking Terms and Conditions, The Customer Terms and the Savings Account and Term Deposit Terms which are applicable to your Priority Banking Relationship and your agreement to abide by them or any other terms that may be in force.

1. Priority Banking Membership
   Priority Banking is a banking relationship offered by Standard Chartered Bank (the Bank) where the Bank extends certain special privileges, offers products and services to its clients, which are modified from time to time. A full list of all such privileges, offers and products can be obtained from the Bank.
2. Programme Maintenance Fee

   A monthly maintenance fee of 0.5% Of shortfall in Funds Under Management with a maximum cap ofINR 1250/month + Goods and Services Tax (GST) or such other amount (“Program Maintenance Fee”) as the Bank may decide in its sole discretion, shall be charged by the Bank every month and such Program Maintenance Fee shall be payable by you in the event you do not meet the qualification criteria, as mentioned below:

   Eligibility Criteria
   

   1. Minimum monthly average FUM^ (Funds Under Management) of INR 50 Lakh OR
   2. Minimum monthly salary credit into Standard Chartered Salary Account of INR 3 Lakh OR
   3. Minimum mortgage outstanding amount as per the city classifications below:
      1. INR 4 Cr for Mumbai, Delhi
      2. INR 3 Cr for Bangalore, Chennai, Hyderabad, Pune, KolkataINR 2 Cr for all other cities

    

   ^FUM (Funds Under Management) includes any one, or the combination of the following products from the Bank: Savings Accounts, Term Deposits and  Investments made through the Bank.

   ²At any point if the outstanding balance falls below the amount mentioned, the client has to either restore the amount by way of top-up or meet the FUM qualification criteria.

   Please note, if one family member maintains the qualification/eligibility criteria, rest of the family members can enjoy Priority benefits. Family members include , if single status – parents., incase of married status – spouse and children

3. Renewal of Priority Banking Membership

   Priority Banking Membership will be valid for one year from the date of joining and will be subject to renewal every year at the Bank’s sole discretion.

4. Complimentary Priority Banking services for the first three months

   Priority Banking services will be complimentary for the first three months of joining. At the end of three months, non-maintenance of eligibility criteria shall attract Program Maintenance Fee and may result in discontinuation of Priority Banking services and benefits.

5. Cancellation of Priority Banking Membership

   a) Priority Banking client may terminate the Priority Banking Membership by giving the Bank a written notice.

   b) All Priority Banking privileges shall be terminated forthwith upon the death or bankruptcy of Priority clients.
   c) Priority Banking Membership is extended to clients at the Bank’s sole discretion and the Bank may revoke the membership at any time, without obligation to give clients any notice or reasons.

6. Know Your Customer (KYC) norms

   Please be informed that there might be transaction restriction on the account in case the Know Your Customer (KYC) documents submitted by you are found incomplete/ insufficient during internal review by the Bank after the account has been opened. The account might be closed in case you are not able to provide complete KYC documents as per the requirement.

Note:

• Please verify the identity of the Bank officer before handing over the initial payment for opening the account. Also please confirm that you have not handed over cash to theofficer for opening the account except when you have visited the Bank’s branch personally. You have not been incentivised by a gift/ discount for opening the account.
• Account holder(s), please note that the name will be captured in certain Bank records as per the details available on the Income Tax Pan Site (only if pan card is provided as a primary identity document). This name may differ from the name appearing in the Pan Card submitted at the time of account opening.
• The schedule of charges will be sent to you along with your welcome kit.
• All charges are exclusive of duties and taxes as applicable.
• Program maintenance charges will not be levied for clients holding Saving accounts with a minimum monthly average balance of INR 5 Lakh
• GST will be levied at the applicable rates in force on all taxable supplies with effect from a date to be notified by the Government.
• All charges and service standards are subject to revision at the discretion of the Bank.
• The conduct of your Account(s) and the use of Phone Banking, ATM, Debit Card, Door Step Banking, Internet Banking and Electronic Banking facilities and all other banking facilities are governed by the applicable “terms and conditions” and relevant service charges which shall be read, understood and accepted in addition to the above conditions.
• You have to promptly report any unauthorised transaction including electronic banking transaction** on the account/ card to the Bank either through Phone Banking, Email Channel, Online Banking or Branch, ensuring that there is no delay in reporting. Your liability for the unauthorised transaction due to third party breach will be determined in accordance with the Banks Policy on Limited Liability of Customers in Unauthorised Electronic Banking Transactions (“Policy”). Your ‘liability’ is linked to the timeframe within which you report any unauthorised transaction on the account/ card to the Bank, and more details on that are available in the Policy. If the investigation done by the Bank is incomplete or inconclusive within 10 working days from the date of notification by you of the unauthorised transaction, the Bank will provide a provisional credit or a shadow credit of the disputed amount to you (in accordance with the Policy). The provisional credit or shadow credit shall be value dated (subject to the unauthorised transaction being reported to the Bank within 7 working days) to be as date of the transaction, in case of debit card/ bank account so that you do not suffer loss of interest. You will not be able to utilise the amount that is provisionally credited to your account, pending the investigation by the Bank. If the investigation outcome reveals that there has been negligence/ compromise of the secured credentials by you, then the provisional credit or the shadow credit will be reversed by the Bank
• Withdrawals using withdrawal slips supplied by the Bank can only be made in case of Savings Bank Account opened by individuals and by the account holder in person.
• Accounts which are not operated for a period of greater than two years are classified as dormant. Consequently, the bank will allow operations in the account only after completion of due diligence by the Bank. Any Debit/ ATM card due for renewal will not be issued.
• Accounts which are not operated for a period of greater than 10 years or more will automatically be marked as an “Unclaimed Account” wherein credits and debits in the account will be restricted, and the account will be placed on hold.
• Waiver of Program Maintenance Fee is applicable to all Standard Chartered Bank Staff.
• Any charges not mentioned in this document should be read in conjunction with the Schedule of Service Charges for the relevant product.
• Debit cards issued for NRO accounts would be valid for use in India only.
• Debit Card Reward points earned during a calendar year (January-December) will lapse on 30 June of the next year, call Phone Banking to redeem your points before expiry.
• Your deposit held with us is covered by the provisions of the Deposit Insurance & Credit Guarantee Corporation Act, 1961

**electronic banking transactions can be divided into two categories:

Remote/ online payment transactions (transactions that do not require physical payment instruments to be presented at the point of transactions e.g. internet banking, mobile banking, card not present (CNP) transactions), Pre-paid Payment Instruments (PPI), and Face-to-face/ proximity payment transactions (transactions which require the physical payment instrument such as a card or mobile phone to be present at the point of transaction e.g. ATM, POS, etc.)