Card Member Agreement

These Terms and Conditions (“Terms”) apply to the SBM Credilio Secured Credit Card
issued by SBM Bank (India) Limited (“Bank”). Activating your SBM Credilio Credit Card
from the website / app or clicking on ‘Submit’ or ‘I Agree’ or any similar tab/icon would mean
acceptance of the below terms and conditions by the Cardholder/Cardmember (“You” or
“Your”).
These Terms presently in force were last updated on 16th Jan 2023 and are subject to changes
from time to time.
1. Definitions and Interpretation
1.1 “Applicant” means person(s) who have applied for a SBM Credilio Credit Card
1.2 “App PIN” means the Personal Identification Number created by the Cardmember from the
SBM Credilio Mobile Application to password protect and secure the SBM Credilio Mobile
Application.
1.3 “Authorized Dealer” means an authorized dealer as defined in the Foreign Exchange
Management Act, 1999, as amended from time to time
1.4 “Bank” shall mean SBM Bank (India) Limited, issuer of the SBM Credilio Credit Card.
1.5 “Business Day” means a day on which the relevant office of the Bank is open for normal
business transactions.
1.6“ Card issuer” means SBM Bank (India) Limited who has been permitted by RBI to issue
credit cards in India.
1.7 “Cardmember”/ “Cardholder” means an individual who has been issued the SBM Credilio
Credit Card by the Card issuer through the app / website.
1.8 “Charges” means such charges as are set out in Clause 8 hereof or mentioned anywhere in
these Terms. All details of Charges mentioned herein shall be as provided in the MITC unless
specifically communicated to the Cardmember, as amended from time to time.
1.9 “Credit Limit/ Purchase Limit” means the limit up to which a Cardmember is authorized to
use the SBM Credilio Credit Card for a purchase transaction at an online/offline merchant
establishment.
1.10 “Customer Care” refers to customer service and support systems provided by the bank
and/or the authorized business correspondents of the Bank.
1.11 “Biometric Lock” refers to securing the SBM Credilio mobile application by using the
Cardmember’s fingerprint/face ID as a locking mechanism.
1.12 “Merchant Establishment” means an establishment which honors the SBM Credilio
Credit Card and shall include without limitation among others, stores, shops, restaurants,
hotels, airlines, and mail order advertisers (whether retailers, distributors or manufacturers) and
shall include establishments which honor the SBM Credilio Credit Card for online
transactions.
1.13 “Merchant” means any person who owns or manages or operates the Merchant
Establishment, its successors and permitted assigns.
1.14 “Minimum Amount Due” or “MAD” means the amount mentioned in the SBM Credilio
Credit Card statement, which is the minimum payment a Cardmember must make by the
payment due date to keep the card account in good standing.
1.15 “MITC” means the document containing the Most Important Terms and Conditions along
with the schedule of charges applicable for the services offered on the SBM Credilio Credit
Card (as provided in Annexure I herein). These charges are subject to changes at the sole
discretion of the Bank. However, such changes in charges may be made only with prospective
effect giving prior notice of 30 (thirty) days to the Cardmember.
1.17 “ SBM Credilio Credit Card Account” means the account opened in the name of the
Cardmember for the purpose of usage of the SBM Credilio Credit Card as per the terms and
conditions set out herein
1.18 “ SBM Credilio Credit Card PIN” means the Personal Identification Number created by
the Cardmember from the SBM Credilio App, to act as a security measure against potential
misuse of the SBM Credilio Credit Card.
1.19 “Payment Due Date” means the date every month, on which the payment is due, towards
charges incurred on usage of the SBM Credilio Credit Card.
1.20 “Primary Cardmember” is the person in whose name the Card Account has been opened
and to whom the SBM Credilio Credit Card has been issued; (“You”)
1.22 “RBI” means the Reserve Bank of India
1.23 “Statement” means the monthly statement of account sent to a Cardmember containing
list of transactions, charges incurred on SBM Credilio Credit Card, amount due and the date
by which it is to be paid.
1.24 “Supplementary/Add-on Cardmember” means the family member(s) of the Primary
Cardmember who become(s) a Cardmember by virtue of relationship with the Primary
Cardmember.
1.25 “Total Amount Due” or “TAD” means the overall outstanding amount mentioned in the
Statement.
1.26 “Transaction Instruction” means any instruction given by a Cardmember directly or
indirectly to the bank and/or through the app or Customer Care to affect the transaction.
1.27 “Virtual Credit Card” shall mean a virtual rendition of the SBM Credilio Credit Card
which can be used for online or app-based transactions.

2. Card Services
SBM Credilio Credit Card is the property of the Bank. The Bank or any Person/Correspondent
authorized by the Bank reserves the right to:
2.1 Ascertain your credit worthiness by obtaining a credit bureau report and any other reports
as it may deem necessary;
2.2 Decline to issue the SBM Credilio Credit Card to you at their sole discretion. The SBM
Credilio Credit Card is not transferable, and its usage is subject to the Terms mentioned here
and any additional conditions stipulated by the Bank from time to time;
2.3 Change the credit limit from when the card is reserved to when it is issued;
2.4 Proceed with issuance of the card subject to completion of KYC (Know Your Customer)
norms and other guidelines;
Please sign on the reverse of the SBM Credilio Credit Card immediately once you have
received it. The App and Customer Care options are available to all Cardmembers.
The Cardmembers availing of any services/ facilities including but not limited to, enhancement
of credit limit, enquiry on transactions, Total Amount Due, statement details, payment due
date, etc. through the SBM Credilio App and/ or Customer Care shall at all times continue to
be bound by the Terms stipulated by the bank with respect to the services/ facilities and the
mode of availing of such facilities/ services, as amended from time to time.

3. Mobile application: You can control the SBM Credilio Credit Card entirely from the
mobile application, some of the actions being:
3.1 Set your App PIN
3.2 Activate your Credit Card
3.3 Make credit card bill payments
3.4 Manage your virtual credit card
3.5 Enable online, domestic and international usage
3.6 Set your SBM Credilio Credit Card PIN (For use at Point of Sale and ATMs)
3.7 Raise disputes or service queries on any aspect of your SBM Credilio Credit Card
4. Virtual Credit Card
4.1 In addition to the physical SBM Credilio Credit Card, you will also receive a virtual
rendition of the same SBM Credilio Credit Card which will be available on the SBM Credilio
App, as part of the on-boarding process.
4.2 This virtual card is also a VISA powered credit card which you can use for any online or
mobile application-based transactions or purchases. The security parameters are set as per
industry standards.

5. Use of the SBM Credilio Credit Card

5.1 Your SBM Credilio Credit Card is an internationally valid credit card and valid world-
wide except as provided in Clause 5.12 below. The SBM Credilio Credit Card is acceptable
at any Merchant Establishments accepting Visa cards. Please use the SBM Credilio Credit
Card for your bona fide personal or official purpose only.
5.2 However, the Bank reserves the right to decline the use of the SBM Credilio Credit Card
on account of amount overdue/NPA, but not restricted to regulatory restrictions, technical
difficulties and unforeseen circumstances.
5.3 A Merchant Establishment has the right, at any time, to refuse the use of the SBM Credilio
Credit Card at that Merchant Establishment for any reason what so ever.
5.4 For any charges levied by the Merchant Establishment towards the services availed by You,
the same shall be settled with the Merchant Establishment directly and the bank shall in no
manner be held liable or the quality of service received, or items purchased. On use of the
SBM Credilio Credit Card at the Merchant Establishment, it is recommended that you collect
a copy of the transaction/payment slip.
5.5 All the contents of the Statement will be deemed to be correct and accepted if You do not
inform us of any discrepancies within 30 days of the statement date. In the event of billing
disputes/discrepancies, the Bank shall investigate and confirm the liability for such
transactions. For certain disputes, the Bank may offer a temporary credit during the period of
investigation, which may be reversed along with applicable charges subject to outcome of the
investigation. GST levied will not be reversed on any dispute on fees and charges or interest.
5.6 You can use the SBM Credilio Credit Card:
5.6.1 within the Credit Limit notified to You; and
5.6.2 not after the last date of the month of the expiry date displayed on the card.
5.7 Your right to use the SBM Credilio Credit Card shall be determined forthwith:
5.7.1 in the event of termination pursuant to Clause 7 below; or
5.7.2 in the event of loss / misuse or theft of the card.
5.7.3 By usage of the SBM Credilio Credit Card, you are deemed to have made a standing
request that renewal of period of the SBM Credilio Credit Card and / or replacement of the
SBM Credilio Credit Card be issued to You and until you request closure of the SBM Credilio
Credit Card from the SBM Credilio App or by contacting Customer Care, and such renewal
and/or replacement shall be subject to the sole discretion of the Bank.
5.8 The Total Credit Limit and Total Cash Limit on every SBM Credilio Credit Card, at the
time of issuance will beat the sole discretion of the Bank.
5.9 You shall act in good faith at all times in relation to all dealings with SBM Credilio Credit
Card.
5.10 The SBM Credilio Credit Card issued to You is valid world-wide for payment in foreign
exchange except at Merchant Establishments in Nepal and Bhutan. Use of the card in Nepal or
Bhutan for payment in foreign exchange would be a breach of the “Foreign Exchange
Management Act” (FEMA) or any other corresponding law. You accept full responsibility for
wrongful use in contravention to these conditions and undertake and agree to indemnify the
Bank to make good any loss, damage, interest, conversion, any other financial charge that the
Bank may incur and/or suffer as a result of your violations of the provisions thereof.
5.11 In compliance with RBI’s circular of January 15, 2020, at the time of issue, your card
shall be enabled for use only at contact based PoS or ATMs within India. The facility to enable
or disable online transactions (domestic and international), international transactions and
contactless transactions will be provided to you from the App.
5.12 Do not use your Internationally valid Card on the Internet or otherwise for purchase of
prohibited items like lottery tickets, banned or proscribed magazines, participation in
sweepstakes, payment for callback services, remittance in any form towards overseas forex
trading, margin calls to overseas exchanges/overseas counterparty, trading in foreign exchange
in domestic/overseas markets etc.
5.13 Authorized Dealers can accept payment by debit to the SBM Credilio Credit Card for
exports made out of India irrespective of whether the importer client is on a visit to India or
not. Therefore, Authorized Dealers may receive payment for exports made out of India by debit
to the Credit Card of an importer, where the reimbursement from the Card issuing
bank/organization will be received in foreign exchange.
5.14 The bank or authorized correspondents reserves the absolute discretion and liberty to
decline or honor the authorization requests on the SBM Credilio Credit Card without
providing any reason to the Cardmember. In certain cases, subject to its sole discretion, the
bank may require you to contact Customer Care to authenticate the transaction before
approving it and charging to the Card Account.
5.15 Further, you agree that you will not use the SBM Credilio Credit Card as payment for
any illegal / unlawful purchase/purposes. The SBM Credilio Credit Card should be used only
for lawful, bona fide personal purposes and must not be used for any money laundering, anti-
social or speculative activities or must not be exploited commercially in business.
5.16 If the SBM Credilio Credit Card is found to be used for prohibited, restricted, commercial
purposes or any purposes as mentioned above in Clause 5.15, the bank may, at its sole
discretion, exercise its right to close the concerned SBM Credilio Credit Card and
Supplementary/Add-on Cards without any notice to you.
5.17 The bank has the right to enquire over phone or through any other means of formal
communication and seek details, information, proof etc. about the SBM Credilio Credit Card
transactions, pattern of use, etc. and you are contractually bound to provide the information
sought by the bank when requested. Bank will, however, not seek PIN, Card Number or any
other details about the SBM Credilio Credit Card.
Unsatisfactory responses or no responses from you may lead to blocking or termination of your
SBM Credilio Credit Card account by the bank. Transactions on the SBM Credilio Credit
Card will be allowed only up to the unused amount of Total Credit Limit on the Card Account
at the time.5.18 Bank shall seek One Time Password (OTP) based consent from the cardholder
for activating a credit card, if the same has not been activated by the customer for more than
30 days from the date of issuance. If no consent is received for activating the card, bank shall
close the credit card account without any cost to the customer within seven working days
from date of seeking confirmation from the customer. In case of a renewed or replaced card,
the closure of an inactivated card shall be subject to payment of all dues by the cardholder.
6. Identity Verification for SBM Credilio Credit Card and App usage
6.1 We have ensured that you can carry out transactions only in a secure environment after you
authenticate yourself on the SBM Credilio App with your preferred authentication mechanism
(Biometric Lock or App PIN) to use and / or access the SBM Credilio App. As a Cardmember,
you should be aware of the features and impact of the SBM Credilio Credit Card transactions
as You would be responsible for your actions within the SBM Credilio App and otherwise.
6.2 To prevent any unauthorized access, please secure the SBM Credilio App access with an
App PIN or fingerprint lock. Further, to enable you to use the SBM Credilio Credit Card in a
secure manner, a Personal Identification Number ( SBM Credilio Credit Card PIN) for the
SBM Credilio Credit Card will be issued. The SBM Credilio Credit Card PIN can be
generated by You from the App and may subsequently be changed by You from the SBM
Credilio App at any time.
6.3 The Biometric lock or App PIN provides access to the SBM Credilio app, and you accept
the sole responsibility for use, confidentiality and protection of the App PIN, as well as for all
orders and information changes entered into the Card Account using this App PIN.
6.4 Please do not share either your App PIN or MPIN or SBM Credilio Credit Card PIN with
anyone or store it in a way that a third party can access it. The bank is authorized by You for
carrying out transactions and instructions authenticated by the PIN and shall not revoke the
same.
6.5 For online purchases, we have ensured that the verification/authentication is not only secure
but convenient. As a Cardmember, you can authenticate your online purchases using the
following methods:
6.5.1 One-Time Password (OTP): In case You wish to authenticate yourself using an OTP, you
can always request an OTP during the purchase, based on which the transaction will be
approved using the OTP sent on your registered mobile number. You shall at all times take all
appropriate steps to maintain the security of the SBM Credilio Credit Card PIN. If you fail to
observe the security requirements, you may incur a liability for the Bank, who may, at its
absolute discretion, issue a new SBM Credilio Credit Card PIN on the existing SBM Credilio
Credit Card or ask you to create a new SBM Credilio Credit Card PIN from the SBM Credilio
App.
6.5.2 One-Click Payment - In case of certain merchants, you can enroll for “One-Click
Payment / Visa Safe Click payment” by verifying yourself once only. Post enrolment, you will
be authenticated by Visa using the device parameters used during enrolment. As a
Cardmember, you will have to enroll for one-click payment at your preferred merchants who
support such a One-Click payment mechanism. This service is brought to you by Visa and is
subject to Visa’s Terms and Conditions.
6.6 In case you have added your SBM Credilio Credit Card for any subscriptions or recurring
payments, then the registration for these services and/or first transaction will be authenticated
using any of the above methods provided in Clause 6.5. The subsequent transactions will not
be authenticated and will be approved based purely on the first verification. In case you wish
to change your subscription plan at any time, you can do that directly from the merchants’
website or app. You should note that the subscriptions/recurring payments arrangement is
subject to the following conditions set forth by the RBI, which may be amended from time to
time.
6.6.1 Any modification to these subscriptions/recurring payments will require authentication
using any of the above methods stated in Clause 6.5.
6.6.2 The maximum permissible limit for these subscriptions/recurring payments is ₹15,000.
At the time of registering for the aforesaid payments, you can set a fixed rupee value or a
variable range within the limit which will be charged to your SBM Credilio Credit Card for
the validity period of the subscriptions/recurring payments arrangement
6.6.3 You will be given a pre-transaction notification at least 24 hours prior to the amount being
charged to your SBM Credilio Credit Card. The pre-transaction notification will be received
by you on your preferred mode of communication provided by you at the time of registering
for this kind of payment arrangement.
6.6.4 This pre-transaction notification will contain the name of the merchant, transaction
amount, date/time they will be charged, reference number of the transaction and reason for
charge (which will be provided by Cardmember at the time of registering the
subscription/recurring payment arrangement).
6.6.5 On receiving the pre-transaction notification, the Cardmember will have the facility to
opt-out of paying for that transaction. If you choose to opt-out, the action will have to be
authenticated using one of the methods provided in Clause 6.5. On receipt of intimation of such
an opt-out, the bank shall ensure that the particular transaction is not affected, and subsequent
recurring transactions are not affected as well. The bank shall send you an intimation to confirm
the same to your preferred mode of communication.
6.6.6 You shall, at your sole discretion, have the option, to withdraw/revoke these
subscription/recurring payments arrangement through the App or Website. Such
withdrawal/revocation shall be authenticated using one of the methods provided in Clause 6.5.
Any withdrawal/revocation from these subscriptions/recurring payments shall result in the
bank not processing/effecting subsequent transactions for that particular arrangement.
However, you may note that any pipeline transactions shall be affected.
“Pipeline transactions” shall mean those transactions for which pre-transaction notifications
were sent to the Cardmember and the opt-out facility was not exercised, however the
Cardmember chose to withdraw the payment arrangement before the transaction alert could be
sent to or received by the Cardmember.
6.6.7 No charge shall be levied or recovered from You for availing these
subscriptions/recurring payments arrangement.

7. Breach, Surrender and Termination/Revocation of Card Membership

7.1 Breach:
In the event of breach of any of these Terms by any Cardmember:
7.1.1 Notwithstanding any other provision of these Terms the Cardmember will remain liable
for any loss directly or indirectly resulting from such a breach; and
7.1.2 The Cardmember will be liable to pay upon demand, all amounts outstanding from the
Cardmember, whether due and payable at the date of such demand or not.
7.2 Procedure for surrender of card-by-card holder – due notice
7.2.1 You can close your SBM Credilio Credit Card account any time by calling our Customer
Care team or by emailing us. The entire card outstanding dues and loans / EMI facilities linked
to your SBM Credilio Credit Card (if applicable and/or availed of) will immediately become
due.
7.2.2 Any refund/reversal that is received after the card closure will be intimated to you and
refunded electronically to the account number shared with customer care after verifying the
ownership.
7.2.3 Upon termination/revocation of SBM Credilio Credit Card membership for any reason
whatsoever, whether at the instance of the Cardmember or the Bank, the Cardmember shall
remain liable for all charges incurred by the use of the SBM Credilio Credit Card.
7.2.4 You specifically acknowledge that once your SBM Credilio Credit Card account is
closed, the privileges (including but not limited to all benefits and services accrued, reward
points not redeemed etc.) of the SBM Credilio Credit Card stand nullified. Reinstatement of
the same is neither automatic nor attendant and will take place solely at the discretion of the
bank.
7.2.5 For avoiding misuse, it is advised to destroy the SBM Credilio Credit Card ensuring
that the hologram, magnetic strip and chip are destroyed permanently.
7.2.6 Your SBM Credilio Credit Card account will be closed only when the Bank receives
the payment of all the amounts due and outstanding in respect of the said SBM Credilio Credit
Card account.
7.3 Procedure for revocation of card membership
Your access to your SBM Credilio Credit Card may be cancelled / revoked at any time without
prior notice, if we consider it necessary for business or security reasons, including but not
limited to:
7.3.1 Delayed or dishonored payments, improper use of the SBM Credilio Credit Card
potentially in violation of RBI and Foreign Exchange rules.
7.3.2 Misleading or incorrect information / documents given along with card application
7.3.3 Failure to furnish information or documents as required under the Know Your Customer
(KYC)/ Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT)
guidelines.
7.3.4 Involvement in any civil litigation or criminal offence / proceedings by any authority,
court of law or professional body or association; and
7.3.5 Changes in credit policy due to prevailing conditions / unforeseen circumstances.
You may continue to get your SBM Credilio Credit Card statements with actual outstanding,
even after closure of the Card Account.

8. Charges and Payments

Here are some of the charges payable by you on the payment date, which will be shown in the
App:
8.1 The amount of any purchase of goods and/or services
8.2 Any fees as specified in MITC.
8.3 Service charges on specific types of transactions as decided by the bank from time to time
may be levied.
8.4. All statutory taxes, Goods and Services Tax (GST), and other taxes (of any description
whatsoever) as may be levied from time to time by the Government or other authority in respect
of or in connection with the SBM Credilio Credit Card.
8.5 Delayed or Amended Charges:
8.5.1 A Merchant may process delayed or amended charges if you have consented to be liable
for delayed or amended charges for a hotel, car rental company, cruise line transaction or any
other transactions; and
8.5.2. Delayed or amended charges shall be processed to the Card Account within 90 calendar
days of the transaction date of the related transaction .
8.6 These transactions may include room, food or beverage charges, taxes, fuel, insurance,
rental fees, damage to rental vehicles, parking tickets and other traffic violations, and goods
and services purchased aboard a cruise line vessel.
8.7 Transactions at Fuel Stations: When you use the SBM Credilio Credit Card to pay for
fuel, you will be levied a surcharge. This will be completely waived for the fuel transactions
made on SBM Credilio Credit Card. Such reversal will not include the applicable tax paid on
such purchase.
8.8 You shall become liable to pay as soon as a Charge has been incurred by use of the SBM
Credilio Credit Card. If there is a previous outstanding amount, interest would be levied on
those amounts as well.
8.9 The Charge is computed on an average daily balance method and will be levied from either
of the following dates where the Charge is in respect of purchase of goods or services, from
the date of it being included in the records of the bank.
8.10 When you get your, you can choose to pay the Total Amount Due (TAD) or the Minimum
Amount Due (MAD) as per your statement. The remaining balance can be carried forward to
subsequent months.
This Minimum Amount Due will be:
8.10.1 5% of the outstanding amount ; PLUS
8.10.2 Previous unpaid minimum amount dues, if any; PLUS
8.10.3 Any amount exceeding the credit limit; PLUS
8.10.4 Entire amount of any instalments (EMI) due (if/as applicable)
Besides the Total Amount Due or Minimum Amount Due, you can also pay an amount between
the Minimum Amount Due and Total Amount Due. Payment should be made before Payment
Due Date to avoid Late Payment Charges.
8.11 If the Total Amount Due is less than Rs.100, Minimum Amount Due would be equal to
the Total Amount Due, i.e., Rs.100. You can pay the outstanding dues through the App using
the following modes:
8.11.1 From any UPI Handle
8.11.2 Using your Debit Card
8.11.3 Via Netbanking
8.11.4 Via IMPS or NEFT, to the unique SBM Credilio Credit Card account number provided
in the app
We know you believe in digital payments, so we do not accept repayments via cash or cheque
8.12 Any payments received from you against the amounts specified in a particular Statement
shall be adjusted towards such dues in the following order:
8.12.1 Billed cash advance (including interest, fees & taxes)
8.12.2 Billed purchases with interest, fees & taxes as applicable
8.12.3 Unbilled cash advance (including interest, fees & taxes)
8.12.4 Unbilled purchases with interest, fees & taxes as applicable
Within the above, the order of adjustment shall be Taxes, Fees, Interest, Purchases
8.13 The above order of appropriation stated in Clause 8.12 may be modified by the bank at its
discretion. Excess amounts, if any, remaining after such appropriation may be appropriated
against the amounts, which are to be specified in the immediate next Statement(s) to be
generated, and no interest will be paid on such excess amounts.
8.14 A Credit Limit will be assigned to each Cardholder which must not be exceeded at any
time. However, if the total outstanding amount exceeds the Total Credit Limit, an additional
charge will be levied on the excess amount.
8.16 The Bank will review your account periodically and reserves the right to decrease your
credit limit based on your transaction patterns, repayment behavior and other internal criteria.
This will be informed to you via the SBM Credilio App and/or via email and SMS.
8.17 In case the payment instrument or instruction given by the Cardmember towards payment
of SBM Credilio Credit Card dues is not honored, or must be returned to you because it cannot
be processed, the Bank reserves the right to initiate legal proceedings against You and will levy
a fee at its sole discretion and/or temporarily disable / permanently cancel the SBM Credilio
Credit Card. You will also be liable to pay the late payment charges, or any other charges as
may be decided by the Bank.

9. Lost, Stolen or Misused Credit Cards/Lost Phone

9.1 Procedure to be followed in case of loss, theft or misuse of the SBM Credilio Credit Card
9.1.1 In case your SBM Credilio Credit Card is lost, stolen, misplaced, or if the SBM Credilio
Credit Card PIN has been compromised, report this immediately on the SBM Credilio App
or call on 1800 103 3817 or email us on [email protected] or
[email protected]. If your SBM Credilio Credit Card is misplaced, you can freeze
the card temporarily on the SBM Credilio App.
9.1.2 If your SBM Credilio Credit Card is lost or stolen, you can block the lost or stolen SBM
Credilio Credit Card on the SBM Credilio App and you can choose to get a new card which
will then be sent to you. You can also reset the SBM Credilio Credit Card PIN on the SBM
Credilio App.
9.1.3 In case the mobile phone with the registered Mobile Number is lost or stolen, inform
immediately by calling on 1800 103 3817.
9.1.4 Please also report the theft of the SBM Credilio Credit Card or phone to the police by
lodging a First Information Report (FIR) and share a copy of that with us when requested.
9.1.5 If you change your registered mobile number or e-mail address, please inform us
immediately via email to [email protected] or [email protected].
9.2 Liability of card holder in case of Clause 10.1 above
9.2.1 You will not be liable for any misuse on the SBM Credilio Credit Card after informing
us of the loss, unless you have acted with gross negligence.
9.2.2 You will be liable for all losses owing to any misuse that happened with your consent or
knowledge or prior to informing us about loss of card / phone.
Never share your SBM Credilio Credit Card PIN, App PIN, and MPIN with anyone!

10. Liability:
10.1. The Bank shall be responsible for direct losses incurred by You due to a system failure
or malfunction within the Bank’s control.
10.2. However, Bank’s responsibility for the non-execution or defective execution of the
transaction is limited to the principal sum and the loss of interest subject to applicable laws for
the time being in force.

11. Exclusion of Liability

11.1 Without prejudice to the remedies available to the Bank and these Terms, Bank shall be
under no liability whatsoever to the Cardmember in respect of any loss or damage arising
directly or indirectly out of:
11.1.1 any defect in any goods or services supplied.
11.1.2 the refusal of any person/ Merchant Establishment to honor or accept the SBM Credilio
Credit Card.
11.1.3 the malfunction of any computer terminal.
11.1.4 the giving of transaction instruction by any person other than by a Cardmember.
11.1.5 handing over of your SBM Credilio Credit Card by You to anybody other than the
Bank authorized or its representatives.
11.1.6 The Bank exercising its right to demand and procure the surrender of the SBM Credilio
Credit Card prior to the expiry date stated on the SBM Credilio Credit Card.
11.1.7 The Bank and/ or exercising its right to terminate any SBM Credilio Credit Card and
the corresponding Card Account; or
11.1.8 any injury to your credit character and reputation alleged to have been caused by the
repossession of the SBM Credilio Credit Card and/or, any request for its return or the refusal
of any Merchant Establishment to honor or accept the SBM Credilio Credit Card.
11.2 You acknowledge that the facility of receiving alerts on the registered mobile phone
number or email provided by You while applying for the SBM Credilio Credit Card, is
dependent on the infrastructure, connectivity and services to be provided by service providers
engaged by the Bank or otherwise.
11.3. The Cardmember accepts that timelines, accuracy and readability of alerts sent by the
SBM Credilio app will depend on factors affecting other service providers engaged by the
bank or otherwise. The bank shall not be liable for non-delivery or delayed delivery of alerts,
error, loss or distortion in transmission of alerts to You.

12. Collections
12.1 You agree that if you fail to make the payment when due, Bank shall, without prejudice,
exercise all or any of its rights and remedies available to it in these Terms, the MITC and/or
applicable laws.
12.2 If you do not pay at least the Minimum Amount Due 3 days beyond the Payment Due
Date, the SBM Credilio Credit Card will be reported as delinquent by the Bank to the Credit
Information Companies (CICs) authorized by the RBI. Non-payment of Minimum Amount
Due may also lead to discontinuation of credit card services.
12.3 Once reported to the Credit Information Companies (CICs), there is no withdrawal of the
report. However, if dues are settled by You, this information will be provided to the Bank for
sharing with Credit Information Companies (CICs) in the subsequent month.
12.4 In the event of a default, you will be sent reminders by post, telephone, email, SMS for
settlement of any outstanding dues. If no response is received from You via regular channels,
third parties may be engaged to remind, follow up and collect dues.
12.5 A message may be left with your spouse / parent / other direct adult family member /
secretary / accountant / other colleague, as available, at your residence / office / phone. Any
such third party appointed shall adhere fully to the code of conduct on debt collection.
12.6 Recovery of dues in case of death/permanent in capacitance of the Card Member: It shall
be in accordance with the applicable laws after giving sufficient notice for payment of dues
and all information regarding the outstanding dues, to the successors/nominees/legal heirs of
the Card Member.

12A. Appointment of third party/service provider

12A.1. The Bank at its sole discretion may appoint third parties/service providers for providing
service over the phone or through any other means. The Bank may also appoint third
party/service providers for conducting certain activities such as but not limited to reference
checking, verification through credit bureau, credit verification, recovery of any outstanding
on the Card or initiate any action allowed by law for recovery of all dues owing to the Bank.
All payments made to such third parties/ service provider for collection will be at your cost and
risk in addition to all costs, charges and expenses incurred by the Bank to recover the
outstanding dues/amounts

12A.2. You shall be liable for all costs associated with the collection of dues and legal expenses
with interest, should it become necessary to refer the matter to any agent or where legal
resource for enforcement of payment has been taken.
13. Arbitration and Resolution of Disputes

13.1 Any requisition received from a Merchant Establishment by the bank for payment shall
be conclusive proof that the Charges were properly incurred by cardholders, unless the SBM
Credilio Credit Card is lost, stolen or fraudulently misused and the same is reported as
provided in Clause 8 above - which they would need to prove.
13.2 Cardholder’s signature on any charge slips or authentication of the transaction by input of
their SBM Credilio Credit Card Credit Card PIN, SBM Credilio App PIN, One-Time-
Password (OTP) sent on their registered mobile number or the gesture of swiping the
transaction confirmation notification i.e., Swipe to Pay, or use of Visa Safe Click/One-Click
process defined by Visa shall be conclusive evidence of the liability incurred by them.
13.3 In case of any facility availed of through Customer Care or the App by using the SBM
Credilio Credit Card PIN, App PIN or User ID will be conclusive proof that the Cardholder
has affected the transaction. The Bank shall not be required to ensure that Cardholders have
received the purchased goods or services.
13.4 In the event Cardholders disagree with a Charge indicated in the Statement, please inform
the bank within 30 days of receipt of the Statement, failing which it would be assumed that all
Charges indicated in the Statement are in order.
13.5 All disputes, differences and / or claim or questions arising out of these presents, or in any
way touching or concerning the same, or as to constructions, meaning or effect thereof, or as
to the right, obligations and liabilities of the parties hereunder shall be referred to and settled
by arbitration, to be held in accordance with the provisions of the Arbitration and Conciliation
Act, 1996, or any statutory amendments thereof, of a sole arbitrator to be nominated by Bank,
and in the event of death, unwillingness, refusal, neglect, inability or incapability of a person
so appointed to act as an arbitrator, The bank may appoint a new arbitrator to be a sole
arbitrator. The arbitrator shall not be required to give any reasons for the award, and the award
of the arbitrator shall be final and binding on all parties concerned. The arbitration proceedings
shall be held in New Delhi.
13.6 Without prejudice to the above, the Company may at its sole discretion issue notice to the
cardholder for initiating conciliation proceedings for the settlement of any of the above-
mentioned disputes in the cases where the cardholder has defaulted in the payment of the dues
for more than 60 days.

14. Quality of Goods and Services

14.1 The Bank shall not, in any way, be responsible for merchandise, merchandise warranty or
services purchased, or availed by you from Merchant Establishments, including on account of
delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by you.
14.2 SBM Credilio Credit Card is purely a facility to you to purchase goods and/or avail of
services, and the Bank holds out no warranty or makes no representation about quality, delivery
or otherwise of the merchandise.
14.3 Any dispute or claim regarding the merchandise or service must be resolved by you
directly with the Merchant Establishment. The existence of the claim or dispute shall not
relieve you of your obligation to pay all the Charges to the Bank and you agree to pay such
charges promptly.

15. Credit Transaction

15.1 A debit for a purchase and a subsequent credit for cancellation of goods / services are
considered to be two separate transactions. You must pay for the purchase transaction as it
appears in the Statement to avoid any additional charges being levied.
15.2 On cancellation, the refund will only be credited to the Card Account (less cancellation
charges) as and when received by Bank. If the credit is not posted to the Card Account within
a period of 30 days, you can notify the bank via the app or email or phone.

16. Disclosures
16.1 The Bank will share credit information including but not limited to the current balance,
loans / EMI facilities linked to the SBM Credilio Credit Card (if applicable and/or availed
of), balance outstanding on the SBM Credilio Credit Card / loan, payment history etc. with
Credit Information Companies (CICs) authorized by RBI, as per the Credit Information
Companies (Regulation) Act, 2005.
16.2 Banks have all responsibility for adherence to all regulatory rules, directions, and
guidelines including guidelines on outsourcing of financial services by banks or NBFCs issued
by the RBI. The company does not provide any services in contravention of the guideline on
outsourcing of financial services by banks or NBFCs issued by the RBI.
16.3 The bank will provide particulars of the Card Account to the statutory authorities, as
needed.
16.4 Transaction alerts received may not be assumed as a confirmation of transaction
completion.
16.6 You will continue to receive communications about transactions and core features of
SBM Credilio Credit Card.

17. Settlement of Disputes

All disputes are subject to the exclusive jurisdiction of the competent courts in New Delhi,
India, and shall be governed by the laws of India. Any arbitration proceeding hereunder shall
be conducted on a confidential basis. Each Party shall cooperate in good faith to expedite (to
the maximum extent practicable) the conduct of any arbitral proceedings commenced.

18. SBM Credilio Credit Card–Secured Credit Card

18.1 The SBM Credilio Credit Card Secured Credit Card (“Secured SBM Credilio Credit
Card”) is a credit card issued by Bank against a fixed deposit created and maintained by
Cardholder (or “You”) with the Bank.
18.2 These Terms apply to and regulate the Secured SBM Credilio Credit Card issued by the
Bank and are in addition to and not in derogation of the Terms and Conditions governing the
Credit Card facilities of the Bank and Terms and Conditions governing Bank’s Fixed Deposit
(the “Primary Terms and Conditions”) as available on the Bank’s website. To the extent of any
inconsistency between these Terms and Primary Terms and Conditions, these Terms shall
prevail.
18.3 In order to be eligible for availing the Secured SBM Credilio Credit Card, you shall be
required to create and maintain a fixed deposit of minimum Rupees Five thousand only (Rs.
5,000) with the Bank through the SBM Credilio App. Please note that the fixed deposit must
be created via the SBM Credilio App if a person is applying for SBM Credilio Credit Card.
Only one SBM Credilio Credit Card credit card shall be issued at any given point to an
applicant.
18.4 The credit limit on the Secured SBM Credilio Credit Card shall be up till Ninety percent
(90%) of the fixed deposit amount, subject to minimum credit limit of Rupees Four thousand
Five Hundered only (Rs. 4,500) and maximum credit limit of Four Lakh Fifty thousand
only (Rs. 450,000). The said credit limit may be subject to change at the sole discretion of the
Bank from time to time and shall be communicated to You through such mode and manner as
deemed fit by the Bank.
18.5 You shall be required to create the fixed deposit in the manner specified and upon
execution of the relevant documents as specified by the Bank from time to time. The fixed
deposits so created with the Bank shall be on auto renewal mode. By applying for the SBM
Credilio Credit Card and agreeing to the Terms contained herein, you hereby give your consent
for the fixed deposit to be auto-renewed as per the tenure decided during the card
onboarding/KYC. In the event of cancellation of the Secured SBM Credilio Credit Card by
you/Bank, the fixed depos it linked to the Secured SBM Credilio Credit Card shall continue
in accordance with the instructions placed by You at the time of placing the fixed deposit.
18.6 Upon issuance of the Secured SBM Credilio Credit Card, in addition to the Bank’s right
of general lien and set-off, the Bank shall mark a lien on the entire/part-of fixed deposit amount
deposited by you, including interest earned by you, until the termination of the Secured SBM
Credilio Credit Card after paying off the outstanding dues or maturity of the fixed deposit, as
the case may be. In the event that you have an existing fixed deposit with the Bank which has
not been created via the SBM Credilio App, the same will not be linked with your Secured
SBM Credilio Credit Card account. The Secured SBM Credilio Credit Card shall be activated
and be available for use by you only once lien has been marked on the fixed deposit created by
you.
18.7 In case of the Secured SBM Credilio Credit Card, the whole of the outstanding balance
on the Card Account, together with the amount of any outstanding Card transactions along with
interest and all other cost, charges as mentioned hereunder, effected but not yet charged to the
Card Account during the usage of the Secured SBM Credilio Credit Card by You will be
secured by way of pledge/hypothecation/lien of such securities/fixed or term deposits/such
other assets as approved by Bank and standing solely in your name, in the form and manner as
prescribed by Bank. You shall execute all such documents in the form and manner satisfactory
to the Bank for the creation of security. Costs involved in creation of security and completion
of all other formalities, including but not limited to stamp duty, etc. shall be borne by You.
18.8 The prevailing rate of interest applicable at the time of auto-renewal of the fixed deposit
shall be applicable on the linked fixed deposit amount unless You have specifically provided
instructions to not auto-renew the fixed deposit which shall mean discontinuance of the
Secured SBM Credilio Credit Card.
18.9 In case the fixed deposit is liquidated prior to the completion of the tenure, tenure-based
penalty shall be charged at one (1) percent of interest accrued on the fixed deposit from the
date of creation of fixed deposit till date of liquidation of fixed deposit.
18.10 Once the Secured SBM Credilio Credit Card is issued, you shall not have the right to
make any part withdrawals from the fixed deposit linked to the Secured SBM Credilio Credit
Card. The tenure of the fixed deposit opened for availing the SBM Credilio Credit Card shall
continue on an auto renewal mode unless terminated and cancelled. The issuance of Secured
SBM Credilio Credit Card is subject to successful creation of the fixed deposit.
18.11 The fixed deposits which are in the name of a single individual shall be eligible for
Secured SBM Credilio Credit Card and the fixed deposit has to be opened through the SBM
Credilio App. Nomination facilities shall be available for the fixed deposit facility.
18.12 In the event of termination/withdrawal/cancellation of the fixed deposit of the Secured
SBM Credilio Credit Card or if you fail to pay the amount outstanding on the Secured SBM
Credilio Credit Card within sixty (60) days from the due date as mentioned in the Card
Statement, or in case of termination of the fixed deposit upon your demise, the Bank shall be
entitled forthwith to liquidate the entire fixed deposit amount including the interest accrued
and set-off such amount against the outstanding amount payable to Bank under the Secured
SBM Credilio Credit Card. Any balance remaining after the above referred deduction shall be
refunded to you and pending outstanding will have to be paid immediately. In case of your
unfortunate demise, the Secured SBM Credilio Credit Card shall stand terminated. Further,
in case of non-payment of dues, the Bank shall report the Secured SBM Credilio Credit Card
held by you as delinquent to the Credit Information Companies (CICs), authorized by the RBI
and such reporting shall affect your credit score adversely.
18.13 In accordance with the terms and conditions governing the Fixed Deposits, for
Cardholders with fixed deposit opened through One-Time Password (OTP) based e-KYC
(electronic-Know Your Customer) verification, non-completion of approved KYC verification
or customer due-diligence, within 1 (one) year of availing opening the fixed deposit, for any
reason whatsoever, shall result in closure of the relevant fixed deposit account. It is to be noted
that in the above event, the Secured SBM Credilio Credit Card availed by you against the
fixed deposit shall also be closed, and the lien marked against such fixed deposit shall be
removed. However, notwithstanding anything contained herein or any other document, in such
case, the Bank shall have the right to liquidate the entire fixed deposit amount, including the
interest accrued, and set-off such amount against the outstanding amount payable to Bank with
respect to the Secured SBM Credilio Credit Card. Any balance remaining after the above the
due adjustment shall be refunded to You.
18.14 Cardholders have an option to top-up the fixed deposit within the SBM Credilio App
at the sole discretion of the Bank.
18.15 Cardholder may make any incremental top up to fixed deposit, however, this will be at
Bank’s discretion and will be subject to any applicable law.

19.Terms and Conditions

19.1 A soft copy of these Terms, the MITC, relevant credit card guidelines and FAQs are all
available on the website / app. The Bank shall have the absolute discretion to amend or
supplement any of the Terms, features and benefits offered on the SBM Credilio Credit Card
including, without limitation to, changes which affect existing balances, interest charges or
rates and methods of calculation at any time.
19.2 You will be liable for all charges incurred and all other obligations under these revised
Terms until all the amounts under the SBM Credilio Credit Card are repaid in full. The bank
may communicate the amended Terms by hosting the same on the website / app or in any other
manner as decided by the bank.
19.3 You shall be responsible for regularly reviewing these Terms including amendments
thereto as may be posted on the SBM Credilio App / website and shall be deemed to have
accepted as the amended Terms by continuing to use the SBM Credilio Credit Card.
19.4
The terms may be altered by the Bank, but 30 days’ notice of the change shall be given to the
cardholder to enable him/her to withdraw if he/she so chooses. After the notice period of 30
days, the cardholder would be deemed to have accepted the terms if he/she had not
withdrawn during the specified period. The change in terms shall be notified to the cardholder
through all the communication channels available.’”

20. Waiver/Acquiescence
No delay in exercising, or omission to exercise any right, power or remedy accruing to the
Bank upon any default under this Agreement, or any other agreement or document shall impair
any such right, privilege, power or remedy nor shall it be construed to be a waiver/forbearance
thereof or any acquiescence in such default; nor shall, the action or inaction of the Bank in
respect of any default or any acquiescence by it in any default, affect or impair any right, power
or remedy of the Bank in respect of any subsequent or similar default.