Federal One Credit Card EMI Terms and

Conditions
w.e.f January 10, 2024

These Terms and Conditions (Terms) apply to credit card issued by Federal
Bank Limited (“Bank”) pursuant to a co-branded partnership with its
co-branding partner i.e. Oneconsumer Services Private Limited (“Federal
One Credit Card”). Availing of EMI facility on your Federal One Credit Card
would mean acceptance of the below terms and conditions by the
Cardholder/Cardmember (You).

These Terms presently in force were last updated on January 10, 2024 and
are subject to changes from time to time. The most recent version will
always be available on the Bank’s website as well as on the OneCard app
and website. Any applicable charges shall be shown to you in the OneCard
app and any changes to these charges will be notified to you in the
OneCard app.

The present Terms are in addition to and not in substitution or derogation

of, the Federal One Credit Card Most Important Terms and Conditions
(“MITC”) as well as the Federal One Credit Card Terms and Conditions
(“T&C”) and nothing contained herein shall prejudice or affect the clauses
of the MITC and T&C. Unless otherwise specified, the words and
expressions used herein shall have the same meaning as in the MITC and
T&C.

1. Definitions and Interpretation

1.1 “Cardmember/Cardholder” means an individual who has been issued the

Federal One Credit Card.

1.2. “Credit Limit” means the limit up to which a Cardmember is authorised

to use the Federal One Credit Card for a purchase transaction at an
online/offline merchant establishment.

1.3. “Customer Care” refers to customer service and support systems

provided by FPL Technologies Private Limited.

1.4. “Equated Monthly Instalment (EMI)” shall mean facility wherein

purchase(s) 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 “FPL” means FPL Technologies Private Limited, an authorised outsourced

service provider appointed by the Bank. FPL is responsible for managing the
Federal One Credit Card.

1.6 “Federal One Credit Card” means the co-branded credit card issued by
Federal Bank Limited pursuant to a co-branded partnership with its
co-branded partner Oneconsumer Services Private Limited
(“Oneconsumer”) and managed by FPL as an authorised outsourced service
provider of Banks.

1.6 “Minimum Amount Due” or “MAD” means the amount mentioned in the
Federal One 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.

1.7. “Total Amount Due” or “TAD” means the amount mentioned in the
Federal One Credit Card statement, which is the total amount due for
payment when the statement is generated.

2. Eligibility for EMI Facility

2.1. The EMI facility is open to select Cardmembers. Bank reserves the right
to decide the eligibility as per internal policy and guidelines.

2.2. Cardmembers can convert settled and unbilled purchases of Rs. 2,500
(Rupees Two Thousand Five Hundred) and above into EMI.

2.3. The Bank reserves its absolute right and discretion to approve or
decline any request for EMI. It is further clarified that transactions under
certain merchant categories especially gold, jewellery, ATM transactions,
cash transfer, fuel, etc. related transactions or any other transactions
prohibited under law cannot be converted into EMI.

2.4. When you make a purchase under EMI, the available Credit Limit on your
Federal One Credit Card account shall be reduced by an amount equal to
the principal but your account statement for any month will reflect only the
instalment amount due from you for that EMI transaction during that
month.

2.5. Only the complete charge/transaction amounts are eligible for the EMI
and any requests for part of the charge or clubbing of multiple charges into
EMI are not allowed.

2.6. Existing outstanding balances from transactions already converted

into EMI, cannot be converted into EMI.

2.7. Cardmembers can, at any point in time, avail any number of transactions
for conversion into EMI, subject to availability of Credit Limit and above
conditions.

2.8 The Cardmember shall repay the amount thereon in EMIs. The EMI
amount together with other details shall be showcased /communicated to
Cardmember depending on the input parameters provided/selected by
Cardmember such as the EMI facility amount, tenure of EMI etc.

2.9 The Cardmember can select the EMI tenure between minimum 3
months to maximum 36 months, which may subject to change at the sole
discretion of the Bank.

2.10 The Cardmember 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. In the event the payment is not
made by the payment due date, it shall be construed as a default by the
Cardmember and Cardmember shall become liable to pay the amount
together with late payment charges, as specified in the MITC and T&C’s.

3. Interest, Charges, and Instalments

3.1. The interest charges on EMI transactions are charged at a rate

communicated to the Cardmember at the time of availing of the facility and
on a monthly reducing balance. The Bank reserve 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 purchases and
different items that differ based upon communication channel, media and
merchant.

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

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

3.4. For transactions converted into EMI post purchase, the interest rate
would be communicated at the time of conversion. Additionally, there would
be a processing fee which would be communicated at the time of EMI
conversion . A foreclosure charge of 3% on the remaining principal amount
(min of Rs.99) + GST as applicable will be charged if closed before the
chosen tenure.
3.5. GST will be applicable on processing fee, interest and foreclosure
charges and is subject to change as per relevant regulations of the
Government of India.

3.6. The Credit Limit on the Federal One Credit Card shall be blocked to the
extent of the full transaction amount. The Credit Limit will be released as
and when the EMI is billed and paid for in subsequent months.

3.7. Fees and charges once posted to the Cardmember’s account during the
EMI conversion and EMI foreclosure shall not be waived off for the
Cardmember in any scenario.

4. Billing and Prepayment

4.1. The interest component for the first instalment shall be computed from
the EMI booking date. For all the instalments, the interest shall be
computed on a monthly basis and the instalment shall be added to the MAD
on the date of each monthly bill.

4.2. After processing Cardmember’s request for conversion of transactions

into EMI, the amount shall be billed on the first statement for the Federal
One Credit Card that is generated post the conversion of the transaction
into EMI.

4.3. The instalment amount for each EMI shall be paid in full each month,
notwithstanding the minimum monthly payment requirements stipulated in
the MITC and T&C. The aggregate of all EMI instalment amounts for any
billing period will be added to the minimum monthly payment calculated for
all other charges or outstanding balances for that billing period. The Bank
reserve the right to charge default interest on any unpaid or partially paid
instalment amount.

4.4. Any amount in excess of Cardmember’s full outstanding balance

reflected in current statement will result in a credit balance lying in
Cardmember’s card account and will not be applied to unbilled EMI
instalment amounts.

4.5. Notwithstanding anything stated elsewhere, the Bank at its sole

discretion reserves the right to off-set any credit balance on the card
account against any due EMI instalment.

4.6. In case of full refund from the merchant, the Cardmember should
contact the Customer Care team and place a request for EMI cancellation.

4.7. The Bank reserves the right to levy late payment fees and default
interest on any unpaid or partially paid instalment amount.

5. Schedule of Repayment

5.1. While creating the schedule, 30 days (year of 360 days) will be
considered for a month’s interest and based on the calculation, the entire
schedule will be created.

5.2. Example:
Principal = Rs. 10,000, Tenure = 6 months, Interest rate = 1.33% p.m, GST =
18% of the interest component

6. Cancellation/foreclosure of EMI facility

6.1. Cardmembers may foreclose the aggregate of all unbilled principal in full
only by opting for foreclosure by calling Customer Care or from the EMI
dashboard in the OneCard app (will be available soon).

6.2. Upon foreclosure, the entire outstanding amount will be billed to the
Cardmember’s account statement. If the Cardmember has carried forward
balance at the time of foreclosure, the entire amount will attract applicable
interest rate as specified in the monthly Statement of Account else the
amount will be due for payment as per billing cycle.

6.3. Upon foreclosure, the entire outstanding amount along with the
upcoming month’s interest (only if the EMI has been posted to
Cardmember’s account) will be billed to the Cardmember’s account
statement as a part of the Total Amount Due. If the Cardmember chooses
not to pay the entire amount and opts to carry forward a balance, the entire
amount will attract applicable OneCard interest rate.

6.4. In the event the Federal One Credit Card account remains past due for
more than ninety (90) days (due to non-payment of Minimum Amount Due)
and sixty (60) days for Partially Secured Federal One Credit Card, the EMI
shall be foreclosed with the principal outstanding along with the upcoming
month’s interest (only if the EMI has been posted to Cardmember’s
account), billed to the Federal One Credit Card account. The Bank shall be
entitled to demand immediate repayment of such outstanding amounts as
deemed appropriate.

6.5. In the event the Federal One Credit Card is blocked or closed prior to all
EMI(s) being charged, the EMI(s) shall still continue to be billed in the
monthly statement and shall be included as a part of the Minimum Amount
Due. However, in the event the Federal One Credit Card remains past due for
more than ninety (90) days and sixty (60) days for Partially Secured Federal
One Credit Card, the EMI shall be foreclosed as stated above.

6.6. If the Cardmember does not renew the Federal One Credit Card, in the
event the period of the Federal One Credit Card expires during the tenure of
the EMI facility, the Bank shall be entitled to debit the Cardmember’s Federal
One Credit Card account up to ninety (90) days of no payment and sixty
(60) days for Partially Secured Federal One Credit Card.
6.7. In case of Federal One Credit Card renewal/upgrade, if the new card is
out for delivery and undelivered which leads to deactivation/cancellation,
the EMI account will be closed and the Cardmember will be liable to pay the
complete outstanding as per the statement with the foreclosure and
associated charges.

7. Merchant EMI

7.1. The processing of conversion of a transaction into Merchant EMI shall

take up to 2-8 business days from the date of transaction. The Bank
reserves the right to accept or reject EMI requests.

7.2. Interest subventions/waivers (if applicable and communicated to

Cardmember at the time of the transaction) for an EMI transaction shall be
credited to the Cardmember in up to 90 business days.

7.3. The minimum value of the credit transaction should be Rs. 2,500 or
more to be eligible for conversion of transaction to Merchant EMI.

7.4. Merchant EMI facility is available at select stores and brands only.

8. Events of Default

8.1 If one or more of the events specified in this Clause (“Events of Default”)
occur or shall have occurred, the Bank, Oneconsumer and/ or Bank’s
authorised service provider, may call upon the Cardmember to foreclose the
EMI by a notice in writing to the Cardmember will send intimation for
cancellation of the EMI facility:
(a) The Cardmember’s commission of a breach of any of the terms and
conditions and covenants herein contained or having made any
misrepresentation to the Bank and/ or its authorised service provider.

(b) The Cardmember’s having been declared as an insolvent.

(c) Any proceedings for misconduct having been initiated against the
Cardmember.

(d) The Cardmember’s failure to furnish any information or documents that

may be required by the Bank.

(e) The Cardmember’s entering into any composition with his/her creditors.

(f) The Cardmember’s defaulting on any of the terms and conditions of any
other facility provided by the Bank to the Cardmember.

(g) The existence of any other circumstances which, in the sole opinion of
the Bank, jeopardize Bank’s interest.

8.2 Upon the occurrence of any event of default as specified above, the
Bank and/ or its authorised service provider shall be entitled to exercise
rights and remedies available to it under these Terms as also the MITC and
T&C’s.

9. Miscellaneous

9.1 The Cardmember has understood Bank’s method of calculating EMIs

payable.
9.2 The Cardmember has understood and agrees that by availing of the EMI,
the Cardmember shall not be, unless otherwise stated by the Bank in
writing, eligible for any reward points whatsoever, whether awarded under
any other reward points scheme on the Federal One Credit Card that may
be announced by the Bank from time to time.

9.3 Nothing contained in these terms and conditions shall be construed as

an obligation of the Bank to continue to offer the EMI after the date of
termination of the EMI. The Bank reserves the right at any time without
previous notice to add, alter, modify, change or vary all or any of these
additional terms and conditions.

9.4 The EMI facility shall be available to the Cardmember requesting for
such facility, at the sole discretion of the Bank.

9.5 The EMI facility shall be available on the primary card only, subject to the
available Credit Limit and will be provided to the Cardmember requesting for
the EMI facility, at the sole discretion of the Bank.

9.6 Any action permitted to be taken by an authorised service provider of

the Bank under these Terms shall be deemed to have been authorised by
the Bank.

9.7 The Cardmember shall also indemnify for all claims brought by a third
party against the Bank, Oneconsumer and/or Bank’s authorised service
provider from any actions, claims, demands, losses, damages, costs,
charges, and expenses which the Bank, Oneconsumer and/or Bank’s
authorised service provider will suffer, sustain due to the breach of any of
these Terms by such Cardmember.

9.8 Any and all disputes arising out of providing the EMI facility to
Cardmember shall be subject to the exclusive jurisdiction of courts of Pune,
India.