By entering the one-time password (“OTP”) sent by Bajaj Finance Limited (“BFL”) or by clicking on the ‘I Accept/Submit’ button, I am expressing my interest in availing Bajaj Finserv Existing Member Identification Number from BFL. I hereby confirm that I (i) am at least 21 years of age, (ii) can understand, read and access the world wide web / internet in English language, (iii) have read, understood and agree to be bound by the terms in this Form (“Application Form”).

Further, I agree that my action of submission of the OTP sent by BFL, constitutes a valid acceptance by me of the terms and conditions contained herein, which shall have binding effect on me.

GENERAL TERMS & CONDITIONS

Terms used but not defined herein shall have the meaning ascribed to them in the Master Terms.

I. CUSTOMER’S REPRESENTATIONS:

I hereby state, confirm and agree as under:

1. That I have applied for Existing Member Identification Card (EMI Network Card / INSTA EMI Card) of type as specified in the form (“Application Form”), from Bajaj Finance Limited (“BFL”).

2. That I hereby unconditionally acknowledge and accept that:

i. the Existing Member Identification Card is issued by BFL in electronic form.

ii. I shall submit all documents including KYC documents in such form and manner as may be required by BFL in relation to my Application Form.

iii. CKYC Consent:

i. I hereby authorize BFL to verify/check/obtain/download/upload/update/retrieve/receive my KYC details from/with the CKYC Registry (CERSAI): (a) by verifying such details through the CKYC number (i.e. KYC Identifier Number- KIN) provided by me or (b) by obtaining such CKYC number/KIN, through details shared by me for the Application Form.
ii. I hereby consent for receiving information from CERSAI and BFL through SMS/Email on the above registered number/email address.

iv. Aadhaar No. using e-KYC Authentication facility provided by UIDAI (Aadhaar e-KYC) / Aadhaar paperless Offline e-KYC Verification Specific (OKYC) consent:

i. I voluntarily opt for Aadhaar e-KYC or (OKYC) or Certified Copy of Officially Valid Documents (OVD) or equivalent e-documents of OVD including documents issued through Digi locker and submit to the BFL my Aadhaar number, Virtual ID, e-Aadhaar, m-Aadhaar, Aadhaar PVC Card, Aadhaar Letter, XML file or Aadhaar Secure QR code, Masked Aadhaar, Aadhaar details, demographic information, identity information, Aadhaar registered mobile number, face authentication details and/or biometric information (collectively, “Information”

ii. I am informed by the BFL, that:

a) submission of Aadhaar is not mandatory, and there are alternative options for KYC and establishing identity including by way of physical KYC with officially valid documents other than Aadhaar. All options were given to me.
b) For e-KYC/offline verification, BFL will share Aadhaar number and/or biometrics with CIDR/UIDAI, and CIDR/UIDAI will share with BFL, authentication data, Aadhaar data, demographic details, registered mobile number, identity information, which shall be used for the informed purposes mentioned in 4(d) below.
c) I shall share the Share Code or confirm on the auto populated shared code, for successful XML file download and upload as contemplated under applicable law to complete my offline KYC process.
d) I authorize and give my consent to the BFL (and its service providers), for following informed purposes:

(i) KYC and periodic KYC process as per the PML Act, 2002 and rules thereunder and RBI guidelines, or for establishing my identity, carrying out my identification, offline verification or e-KYC, or Yes/No Authentication, demographic or other authentication/verification/identification as may be permitted as per applicable law, for all accounts, facilities, services and relationships of/through the BFL, existing and future.
(ii) collecting, sharing, storing, preserving Information, maintaining records and using the Information and authentication/verification/identification records:

(a) for the informed purposes above,
(b) as well as for regulatory and legal reporting and filings and/or
(c) where required under applicable law;

(iii) producing records and logs of the consent, Information or of authentication, identification, verification etc. for evidentiary purposes including before a court of law, any authority or in arbitration.

I understand that my Aadhaar number and core biometrics will not be stored/ shared except as per law and for CIDR submission.

v. I hereby confirm that all the information and details including but not limited to financials/bank statements, KYC details provided/to be provided by me pursuant in support of my application or to be shared with any third party, including the CERSAI, are true, correct and up-to-date. I have not withheld any material information that may be required by BFL. I undertake to immediately keep BFL updated of any change in the information provided by me, specifically KYC/CKYC details, Bank details, change of my address/co-ordinates etc. and in case any of the above information is found to be false or untrue or misleading or misrepresenting, I am aware that I shall be held liable for the same and I will not hold BFL liable for any consequences that may arise owing to any delay/lapse on the my part.

vi. I authorize BFL to use my existing details and KYC documents/data for KYC compliance, if any, for this application and in case of any changes in my registered KYC or bank account details, I shall update about the same & submit the updated KYC to BFL forthwith.

vii. I shall make payment of the applicable fee and/or charges, as specified herein by BFL with respect to Existing Member Identification Card and as more specifically detailed under Annexure I below or such other/modified fees/charges as provided on https://www.bajajfinserv.in/all-fees-and-charges-new#iec.

viii. I hereby agree to pay the Joining Fee as detailed under Annexure I below to BFL, for availing the Existing Member Identification Card, however in case I wish to avail the “pay at store” option for payment of Joining Fee or such other fee as detailed under Annexure I, then the same shall be added to the first Monthly Instalment or first down payment of the loan availed through Existing Member Identification Card.

ix. I understand that the aforesaid fee and/or charges are subject to changes and are non-refundable and non-transferable.

x. That I have read and understood the Master Terms and Conditions applicable to Loans for Consumer Durable, Digital, Life style products & Existing Member Identification Cards (“Master Terms”) prescribed by BFL and available on website: https://www.bajajfinserv.in/consumer-durables_master_t-and-c_english.pdf and understand the applicability of the same for issuance and usage of Existing Member Identification Card and hereby agree to be bound by the same at all times including any additions/amendments thereto from time to time. I agree to keep myself updated of any revisions in the Master Terms as may be communicated by BFL through any Acceptable Means of Communication (as defined in the Master Terms).

xi. I authorize BFL

a) To exchange, share or part with all information relating to this application to credit bureaus/ credit reference agencies, its group companies, financial institutions, Credit Information Companies (‘CIC’), NeSL, NSDL, Central KYC Registry (CERSAI) or any authorized third-party agency as BFL may deem necessary or appropriate for use or processing of the said information and shall not hold BFL or any of its group companies or its/ their agents/representatives) liable for use/sharing of the information as stated above.
b) To seek/obtain any other information, relating to me, from any third party.
c) To procure/avail my credit information report from CICs including CIBIL and provide it to me by deducting applicable charges for the same.

xii. I hereby expressly consent for paying an EMI Network Card Loan Limit Enhancement Fee, in cases where BFL allows me to increase my overall Existing Member Identification card loan limit.

xiii. I hereby expressly consent for paying a Loan Enhancement Fee, in case where BFL allows me to approve the Loan transaction amount over and above my Existing Member Identification Card loan limit, as per its internal risk/credit policies and at its sole and absolute discretion. It is hereby clarified that payment of such fee would not enhance my overall Existing Member Identification card loan limit. Further I agree that payment of such fee would be added to the first Emi/monthly installment of my Loan transaction.

xiv. That this Application Form, together with all its contents, KYC documents, etc. may be submitted to:

a) The subsidiaries, group companies, partners affiliates of BFL, any service provider/third party with reference to rendering services in connection with the product(s) availed by me and/or for promoting/marketing various products and services.
b) to any Regulator, Court, Law enforcement agency, Quasi-Judicial authority etc. on a need to need basis.
c) To its business associates (subject to confidentiality restrictions) for integrating the Existing Member Identification Card usage on such business associate’s website/ wallet, etc. as may be required for facilitating my use of Existing Member Identification Card

II. EXISTING MEMBER IDENTIFICATION CARD TERMS:

1) Existing Member Identification Card is neither a credit card nor a stored value card, etc. and is used only for authentication of my identity while providing/processing the Loan.
2) All Existing Member Identification Cardholders, who have not availed loan using the Existing Member Identification Card in the preceding year, will be charged an Annual Fee, as detailed in Annexure I below.
3) For each valid transaction initiated and approved by the BFL on the Existing Member Identification Card, a new Loan account will be created by BFL, provided that BFL may at its sole discretion reject such loan transaction initiated through the Existing Member Identification Card. Further BFL may require additional documentation from me for approving the said loan transaction. In the event KYC documents founds to be not in compliance with extent regulatory guidelines, the transactions on online portal will not be allowed and customer can do transactions on physical stores by submitting required KYC documents.
4) BFL may at any time, at its sole discretion and without assigning any reason, decide to withdraw the Existing Member Identification Card service and/ or terminate any specific Existing Member Identification or reduce/cancel the loan limit assigned . Further BFL will have no liability to the Existing Member Identification Card-holder or any other person in this regard in any manner whatsoever.
5) In the event of an unauthorized access to or use of an Existing Member Identification Card, EMI Network Cardholder shall immediately inform BFL.
6) I acknowledge that, Existing Member Identification Card is NOT a payment instrument and NOT assignable to any person. I hold myself responsible for any use/misuse of the Existing Member Identification Card, and I shall be jointly and severally responsible for any liability that is incurred through such usage.
7) I have given or shall give NACH mandate or any other Electronic Payment Instrument in favor of BFL covering all the Outstanding dues including fees, penalties, cost, and other applicable charges in connection with any Loan availed by me. The NACH mandate or any other electronic mandate given or to be given in favour of BFL by me the primary Existing Member Identification Card, shall also cover all Outstanding in relation to the Add-on EMI Card linked to my Existing Member Identification Card. Further I shall forthwith issue fresh NACH/ mandate or Electronic Payment Instructions in favour of BFL, if there is any revision in my repayment schedule/ EMI.
8) I shall observe and perform all the obligations as provided herein and as provided under the Master Terms. If I am holding the primary Existing Member Identification Card and avail Add-on Existing Member Identification Card(s) from BFL, I shall observe and perform all obligations under the Master Terms in relation to the Loan(s) availed using such Add-on Existing Member Identification Card(s) linked to my primary Existing Member Identification Card including but not limited to the terms governing repayment. I understand and agree that in the event primary Existing Member Identification Card is blocked for any reasons whatsoever, the add-on Existing Member Identification Card may also get blocked.

9) BFL Customer Care Contact details:

• For any grievances/queries, Customers can write to BFL at wecare@bajajfinserv.in or Customer can reach to BFL through https://www.bajajfinserv.in/reach-us.
• Existing Member Identification Cardholders may also call BFL Customer Care for any grievances/queries related to Existing Member Identification Card at 8698010101. This is not a toll-free number and normal call charges will be applicable

III. EMI NETWORK CARD USAGE:

1) By using the Existing Member Identification Card, the customer may time avail loan for the consumer durable products that may be approved by BFL from time to time on easy EMI’s;
2) Existing Member Identification Card shall not be used for any unlawful / unauthorized purpose.
3) To avail Loan through Existing Member Identification Card the customer will need to follow the below mentioned procedure:

i) share the Existing Member Identification Card number or registered mobile number, card validity date, name on the Existing Member Identification Card and/or one photo identification at Merchant counter or BFL’s branches or online platform of BFL itself or of BFL partners.
ii) enter his/her specific number code/PIN (“Transaction Code”) or One Time Password (“OTP”) received on his/her registered mobile number and/or the registered email id of the customer.

4) Notwithstanding anything contained in these terms, this application and payment of Joining Fee by the Customer, Existing Member Identification Card cannot be used for purchase of products on loan, until successful registration of the NACH mandate by the Customer as per this Application Form, and
5) BFL may at its sole and absolute discretion reject any Loan transaction/authorization initiated through Existing Member Identification Card by the Customer, for reasons including but not limited to:

a. On the basis of BFL’s internal policies (i.e risk policies).
b. On expiry/block of the Existing Member Identification Card.
c. breach of NACH mandate/Electronic Payment Instrument repayment limit.
d. breach of terms and conditions as specific under this Application Form or under the Master Terms.

6) BFL may as per its internal policy may fix a first loan transaction limit which may vary customer to customer. The said limit will be communicated in the application journey and sms communication to the customer.

COMMUNICATIONS RELATED TERMS AND CONDITIONS

By submitting the OTP provided by BFL, I hereby expressly authorize BFL, its group companies, affiliates and/or business associates and their respective representatives to send me communications regarding loans, insurance and their respective products and/or services (collectively “Other Products”) through telephone calls/SMSs/emails/post/bots/bitly, etc. including but not limited to promotional communications. I agree and understand that such Other Products if availed, are governed by their own set of terms and conditions, which shall be in addition to and not in derogation to the terms and conditions prescribed by BFL herein. I understand that I can at any time opt not to receive any telecommunication.

Annexure-I
(Fee and Charges)

EMI NETWORK CARD / INSTA EMI CARD
EMI Network Card Fee	Rs.530/- (Inclusive of applicable taxes)
Online Convenience Fee	Rs.69 (Inclusive of applicable taxes) applicable to Customers who avail Insta EMI Card exclusively through digital mode
EMI Network Card Loan Limit Enhancement Fee	Rs. 117/- (Inclusive of applicable taxes)
EMI Network Card Annual Fee	Rs. 117/- (Inclusive of applicable taxes). Annual fee will only be charged to the EMI Network Card holders who have not availed any loan using the EMI Network Card in the preceding year. The duration of the preceding year is calculated 12 months from last year’s validity month, which is printed on the face of your EMI Network Card. For example, If the EMI Network Card is issued in the month of February 2019 (referred to as ‘Member Since’, on the EMI Network Card) the date for payment of the annual fee will be March 2020.
Add-on EMI Network Card Fee	Rs. 199/- (Inclusive of applicable taxes)

 

FOR AVAILING LOAN - EMI NETWORK CARD / INSTA EMI CARD
Processing Fee	Up to ₹ 5000/- (Inclusive of applicable taxes) collected upfront
Bounce Charge	In case of default of repayment instrument Rs 500/- per bounce will be levied
Penal Interest	Delay in payment of Monthly Instalment shall attract penal interest at the rate 42% per annum applicable on the monthly Instalment outstanding, from the respective due date until the date of receipt of monthly Instalment.
Mandate Rejection Charge	₹450/- per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.
Loan Enhancement Fee	₹ 117/- (Inclusive of applicable taxes) will be added in the 01st EMI
Convenience Fee	₹117/- (Inclusive of applicable taxes) will be collected along with 01st instalment.