Forex Card

Declaration Cum Undertaking

Issuance: 

I hereby apply for the issuance/membership of Federal Bank Lets Go Multi Currency Prepaid Card (“Forex Card”) to me based on the  personal and financial information furnished by me from time to time to the Bank vide various documents including the Account Opening Form, Customer Information Sheet etc. and I hereby confirm that such information holds good  as on date and further endorse the  correctness of  all such  information already furnished. I hereby confirm and declare that I am an Indian citizen, and that I am eligible to apply for the Forex Card which is an internationally valid Card usable in all countries except India, Nepal, Bhutan, and the Countries under US sanctions like North Korea, Cuba and Sudan etc. I accept that Federal Bank is entitled in its absolute discretion to accept or reject this application, without assigning any reason whatsoever. I hereby confirm that I have read and understood the detailed Terms and Conditions as applicable to Forex Card available in www.federalbank.co.in (“website”) If this application is accepted, I shall be bound by the Terms and Conditions governing the Forex Card, as may be in force from time to time and updated in Bank’s website, and use of the Card shall be deemed to be my acceptance of those Terms and Conditions. I am aware that by agreeing to this, I am stopped from taking a plea subsequently, that I have not been aware of the Terms and Conditions.

I authorize Federal Bank and/or its associates to verify any information in such manner as the Bank may deem fit   either  at my office/residence, or by directly  contacting me, my Employer / Banker / Credit Bureau / RBI or any other source, and to obtain or provide any information that may be required for conforming to the  requirements for issuing a Forex Card and continuance thereof, and/or for maintaining my account in good standing. I agree to an ongoing confirmation for the use of my name, address, e-mail and mobile number for marketing / merchandising offers by Federal Bank and other companies with whom the Bank may enter/ has entered into any business arrangements. I understand and acknowledge that applicable laws and Reserve Bank of India Rules and Regulations lay down norms and limits for the purchase and use of foreign exchange. I understand that the usage of Forex Card by me will be in accordance with the Exchange Control Regulations of the Reserve Bank of India, and the applicable laws in force from time to time, in particular, the Foreign Exchange Management Act, 1999 (“FEMA”). In the event of any failure on my part to comply with the Rules and Regulations or in the event of any information supplied by me being incorrect and inaccurate, I agree that I will be solely liable for any / all penalties and /or action under the local laws and / or regulations as may be in force, governing the purchase and use of the  Forex Card, and shall indemnify Federal Bank for any losses or damages caused to the Bank. I agree to pay all the fees/ charges applicable for the Forex Card and its use together with applicable taxes including the Goods & Services Tax (GST) and Forex GST; Interest and other expenses as per the RBI/ Government of lndia rules/ regulations and agree to pay the same.

I hereby agree that I will be required to visit a branch of Federal Bank, which I will choose during submitting my application using FedMobile, to facilitate bank officials to verify the original documents against copies/ digital images of which was submitted along with my application. I hereby agree to produce original documents to the bank officials and bank officials will evaluate the eligibility of me being issued with a Forex Card. I hereby agree that I will collect the Forex Card in person from the branch from where I am completing my original documents verification, after successful verification and approval by the bank officials.

In case an Additional Card (Add-on-Card) is availed for the use of close relative viz.  parent, spouse, brother, sister or child over 12 years of age or for myself, I understand and agree that the entire transactions   done using Add-on Card will be accounted along with the Primary Card. The facility of an Additional Card being an added facility, continuation of such added facility will be dependent on the continuation of my membership.

I agree and acknowledge that the Federal Bank may, at its sole and absolute discretion, act and rely on the instructions or communications given by me or any persons on my behalf claiming to represent me, in connection with reloading of Forex Card, refund demands, modification of the terms of Forex Card etc.  given directly or indirectly via cell phone, facsimile, untested telexes and faxes, telegraph, cable, e-mail  or any other forms of electric communication  and that  Federal Bank will act upon  such  requests without any obligation on its part to verify the genuineness or the authority of any person claiming to have issued the instructions/ communications on my behalf and I hereby agree that I shall not dispute/contest  such reloading or refund   or modification of terms effected by the Bank pursuant to such instructions. .

I hereby agree that I will be solely liable for all acts done or requests made by me or any other person acting on my behalf with respect to reloading / seeking refund / modification of terms in respect of  Forex Card  issued to me and shall indemnify Federal Bank for any/ all losses or damages caused to Federal Bank due to acting / relying on any/ all such requests made by me or on my behalf by any other person.

I understand and acknowledge that there are inherent risks involved in giving or sending the instructions/communications/documents to the Bank via facsimile, untested telexes and faxes, telegraph, cable or emails and hereby agree and confirm that all risks shall be fully borne by me /  and I  assume full responsibility for the same, and I will not hold the Bank liable for any losses or damages including legal fees arising upon your performing or your non performing or any delay /default in performing any act , wholly or in part in accordance with the instructions so received which could be a result of any miscommunication, or technological error beyond the control of the Bank considering the mode in which the same was conveyed.

In case   Forex Card is issued to me at the requests of my Employer, I hereby authorize Federal Bank to act on the requests made by my employer for reload, cancellation and refund or the Federal Bank Lets Go Multi Currency Prepaid Card. I understand that ATMs/Electronic Data Capture (EDC) terminals are machines, and errors could occur during its operation. I agree to indemnify the Bank for any such machine/ mechanical errors/ failure and shall not hold the Bank liable for any failure and / or errors in operation of the Cards at the ATMs/ EDC terminals. I hereby agree that the Forex Card will not be funded by the Bank in the event there is any breach of the limits as prescribed under FEMA, and as applicable to me or if there is any discrepancy / breach of the KYC requirements, and I shall not hold the Bank liable for non-funding due to the reasons mentioned aforesaid.

RELOAD

(Declaration under FEMA 1999, this constitutes Form A2)

I hereby declare that:

  • The total amount of foreign exchange purchased from or remitted through, all source in India, during this financial year, including this application, is within USD 2,50,000 (USD Two lakh Fifty thousand only), the annual limit prescribed by Reserve Bank of India for the said purposes.
  • Foreign exchange purchased by me is for the purpose indicated in my application.

Declaration cum undertaking, under Sec 10(5), Chapter III of FEMA 1999:

  • I hereby declare that the transaction details of which are mentioned above does not involve and is not designed for the purpose of any contravention or evasion of the provisions of the aforesaid Act, or of any rule, regulation notification, direction or order made there under.
  • I also understand that if I refuse to comply with any such requirement or make only unsatisfactory compliance therewith, the Bank shall refuse in writing to understand the transaction and shall, if it has reason to believe that any contravention/evasion is contemplated by me, report the matter to RBI.
  • I also hereby agree and undertake to give such information/documents as will reasonably satisfy you about this transaction, in terms of the above description.

Declaration under Liberalized Remittance Scheme for Resident Individuals:

  • I hereby declare that the total amount of foreign exchange purchased from or remitted through, all sources in India during the financial year including this application is within the overall limit of the Liberalised Remittanœ Scheme prescribed by the Reserve Bank of India and certify that the source of funds for making the said remittance belongs to me and the foreign exchange will not be used for prohibited purposes.
  • I am a person resident in India, I am not a Foreign National/NRI/PIO.
  • The remittance would be utilized for permitted Capital & Current Account transactions only.
  • I have not availed any loan /Credit /borrowings for remitting under Liberalised Remittances Scheme for Capital Account transactions.
  • The remittance is not being requested for any transaction not permissible under FEMA and those in the nature of remittance for margins or margin calls to overseas exchanges/ overseas counter party are not allowed under the Scheme.
  • The Scheme is not available for capital account remittance to countries identified by Financial Action Task Force(FATF) as non-cooperative countries and territories as available on FATF’s website (www.fatf-gafi.org) or as notified by the Reserve Bank of India.
  • The remittance is not being sent for purchase of FCCRS issued by Indian companies in the overseas secondary market.
  • The remittance is not being sent for trading in foreign exchange abroad.
  • I/We undertake to make all Capital Account transactions under LRS from Federal Bank only.

Declaration from tour operators 

I confirm that the remittance is being made for travel arrangements of:

Resident Individual as per enclosed list. The remittanœ made is within the limits prescribed by the Reserve bank of India for the resident individuals under the Liberalised Remittance Scheme.

Foreign tourists as per enclosed list. The amount of remittance does not exceed the amount of foreign exchange remitted to India by the foreign tourists.

General declaration

  • The purpose and transaction details as mentioned above are true to the best of my knowledge.
  • I shall be responsible and liable for any incorrect detail provided by me/ us.
  • The Forex Card funding is not being requested for any purpose specifically prohibited under Schedule I or any item restricted under Schedule 2 of Foreign Exchange Management (Current Account Transaction) rules, 2000.
  • Forex Card is availed not for the direct or indirect use in Nepal and Bhutan.
  • Forex Card funding is not for the direct/ indirect benefit / use   for those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the RBI to the banks.
  • The Transaction mentioned above does not involve, and is not designated for any purpose for which the drawal of foreign exchange is prohibited under Rule 3 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, read with schedule I thereof viz:
  • Remittance out of lottery winnings.
  • Remittance of income from racing/ riding etc. or any other hobby.
  • Remittanœ for purchase of lottery tickets, banned/proscribed magazines, football pools, sweepstakes, schemes involving money circulation, securing prize money/awards, etc.
  • Payment of commission on exports made towards equity investment in Joint Ventures/Wholly owned/Subsidiaries abroad of lndian Companies.
  • Remittanœ of dividends by any company, to which the requirement of dividend balancing is applicable.
  • Payment of commission on exports under the rupee State Credit Route, except commission up to 10% of invoice value of exports of Tea and tobacco.
  • Payment related to “Callback services” of telephones.
  • Remittanœ of interest income on funds held in the Non-Resident special Rupees Account Scheme.
  • Travel to Nepal and/ or Bhutan.
  • A transaction with a person residing in Nepal or Bhutan.
  • I agree that submission of application does not necessarily imply processing of the transaction. Federal Bank has full rights to reject the application based on regulatory and/ or internal guidelines or for any reasons whatsoever.
  • I agree that in the event the transaction could not be executed/debited to my account, after submitting the request for processing to the bank on account of insufficient/unclear balance at the time of execution of the transaction in my/our account, Federal Bank shall not be responsible for not being able to process the transaction. Federal bank shall not be responsible for not being able to process any transaction in my account. Any exchange losses incurred in this connection, due to reversal of the forex deal, can be charged to any of my accounts with any branch of Federal Bank.
  • I agree that in the event the transaction is cancelled or revoked by me/us after submitting the request for processing to the bank, any exchange losses incurred in this connection can be charged to my/our Federal Bank Account.
  • I further agree that once the funds remitted by me/us have been transmitted by Federal Bank to the correspondent and/or beneficiary banks, Federal bank shall not be responsible for any delays in the disbursement of such funds including the withholding of such funds by the correspondent and/or beneficiary banks.
  • I agree that once the funds remitted by me in the Forex Card have been transferred by Federal Bank, intermediary bank charges may be levied by correspondent and/or beneficiary banks, which may vary from bank to bank.
  • I agree that in the event the transaction being rejected by the beneficiary bank, because of incorrect information submitted by me, any changes levied by the beneficiary bank or exchange losses incurred in this connection can be charged to my Federal Bank Account(s) with any branch of the Bank.
  • I agree that the exchange rate displayed in FedMobile during the submitting the application for new forex card is only indicative & not final. Final & exact exchange rate will be on the day/ time of currency loaded by the bank on my/ our behalf. I agree that the exchange rate displayed in FedMobile during reloading foreign currency to my existing card will be deemed final.
  • I agree that exchange rates are subjected to fluctuation and exchange rate will vary from day to day basis.
  • I agree that bank will offer the verification of my original documents in select branches.
  • I agree that taxes / charges applicable in India and/ or the places where the Forex Card is being used may be levied on all the transactions/ services availed by me.
  • For detailed terms and conditions regarding the program, please visit https://www.federalbank.co.in/forex-card
  • As per Govt. of Kerala’s order vide G.O.(P)No.80/2019/TD, dated 25-05-2019, Kerala Flood cess of 1% is levied over and above applicable GST on the taxable value of the transactions in the state of Kerala for customers having no GSTIN. This information is displayed on reasonable efforts basis and the Bank is not having any obligation to update the customers about any changes in the law.

Section 1: A person shall be deemed to be a relative of another if, and only if: (a) they are members of a Hindu undivided family: or (b) they are husband and wife, or (c) the one is related to the other in the manner indicated below:

  • Father (including Stepfather)
  • Mother (including Stepmother)
  • Son (including Stepson)
  • Son’s wife
  • Daughter
  • Daughter’s husband
  • Brother (including Stepbrother)
  • Sister (including Stepsister)

I/ We hereby authorize you to debit my account number that is chosen by me during the reload process in FedMobile and/or any other accounts with any branch of the Bank and effect the travel card funding, as detailed in my application with your applicable charges/ fees/ commissions, GST, Forex GST.

 ANALYTICS

By registering for FedMobile Facility, it will be deemed that you have accorded your consent to Federal Bank for:

  • Using information related to your activities and transactions carried out through FedMobile, for providing personalized services and product enhancements.
  • Share pre-identified information related to your activities and transactions, to affiliates and partners of the Bank for providing personalized services and improved customer support.

Letter of Authority

The Letter of Authority made IN FAVOUR OF  The Federal Bank Limited, a banking company  within the meaning of Companies Act,  2013,  having its registered office at Federal Towers, Aluva -683101, Kerala  (hereinafter referred to as “[Federal Bank]”, which expression shall, unless repugnant to the meeting or context thereof be deemed to mean and include its successors and assigns).

WHEREAS the Deponent/s is desirous of availing of the ‘[investment]’ services offered by [Federal bank] which shall inter alia enable him/her to place investment request or deal in any other manner in various investment products / services of  mutual funds, , that are distributed by [Federal bank] in its capacity as an Intermediary / Referrer/ Distributor/ Corporate Agent of such Mutual Funds / Asset Management Companies / Insurance Companies / Any other Third Party Companies / entity. In consideration of [Federal bank] providing [investment] services and in accordance with the “Terms & Conditions governing [investment] Services”, I/We hereby appoint [Federal bank] as my/ our Mandate Holder/Authority Holder and confer upon it the powers hereinafter stated.

THEREFORE, THIS LETTER OF AUTHORITY WITNESSETH that I/We hereby nominate, appoint and constitute [Federal Bank] as my/our true and lawful Mandate Holder/Authority Holder to do, execute and perform or cause to be done, executed and performed, the following acts, deeds and things or any of them for and on my/our behalf namely:

Terms and Conditions applicable to Transactions carried out through Investment Services (InstaInvest)
offered by The Federal Bank Limited (“Federal Bank”)

Disclaimer

Federal Bank provides investment services as a distributor of third-party investment products and does NOT provide investment advisory services in any manner or form. Investment products do not pertain to Federal Bank. Investment Products

  • are not bank deposits or obligations of or guaranteed by Federal Bank or any of its affiliates or subsidiaries;
  • are not insured by any governmental agency and
  • (iii) are subject to investment risks, including the possible loss of the principal amount invested. Past performance is not indicative of future results/returns, invested amount is subject to market risks which may result in appreciation or depreciation. The ownership of any investment decision(s) shall exclusively vest with the Investor and such investment decision(s) shall be taken by the Investor only after analysing all possible risk factors and by exercise of his/her/its independent discretion.  Federal Bank shall not be liable or held liable for any consequences thereof. Investment products are not available to US persons, Residents of Canada and may not be available in all jurisdictions. By making any investment, the Investor confirms his/her deemed acceptance to the conditions mentioned herein. Investment products are distributed by Federal Bank on a non -discretionary and non-participation basis. The final investment decision shall at all times exclusively remain with the Investor. Investor investing in investment products acknowledge that: (i) the third party product provider may invest in products denominated in non-local currency; (ii) there could be risk of exchange rate fluctuations, which may result in loss of principal or erosion of value of investment. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Please exercise diligence by reading & understanding the Key Information Memorandum(s)/Scheme Investment Document(s) & Statement of Additional Information/Term Sheet/Prospectus carefully before investing and no claim whatsoever shall be made against Federal Bank or any of its affiliates or subsidiaries and / or employees claiming any influence/recommendation/advice/responsibility/liability as against your decision to invest in any investment product. Investor should ensure to understand, accept the identities of different parties and the roles that they play in relation to the various Investment Product(s). Investor acknowledges that, there may be various actual or potential conflicts of interest between Federal Bank or their affiliates or subsidiaries and that of an Investor itself, as a result of the various investment and/or commercial businesses and/or activities of the Connected Persons. The Investor shall be deemed to have accepted, on purchasing/ subscribing / investing to a particular Investment Product(s), that any such conflict may exist and may be prejudicial to an investment in the Investment Product(s).

Acknowledge

I/We acknowledge that, these Terms and Conditions are in addition and supplemental to the General Terms and Conditions applicable to Investment Services offered by Federal Bank and in case of any conflict between the same, General Terms and Conditions applicable to Investment Services shall prevail.

Authorise

Investment Products related services instructions shall only be processed provided there is sufficient balance in the Bank Account to cover the purchase price and to cover all other costs, fees and charges which are payable in connection with such transactions. Federal Bank shall on a best effort basis endeavour to execute such transactions, however Federal Bank shall not be responsible for the non-execution of my/our instructions. I/We hereby expressly authorise Federal Bank to do, perform or execute these instructions at my/our risk and cost, all or any of the following acts, deeds, matters and things:

  • To execute all investment transactions so instructed by me/us with regard to the various Investment Products distributed by Federal Bank on my/our behalf and to pay for the units/securities so purchased, on my/our instructions.
  • To receive the account statement pertaining to the above said units/securities from third party product providers.
  • To execute all investment transactions so instructed by me/ us with regard to the various units/securities held by me/us (whether solely or jointly with others) at my/our express instructions and to receive the payment of the redemption/sale price and acknowledge receipt of the same, based on my/our instructions.
  • To collect, receive and discharge any sum including dividend, interest or income arising from the units/securities.
  • To facilitate credits of all monies in an account opened in my/our name received from all third party product provider(s) with Federal Bank and to make such debits in the said account as may be necessary for payments with respect to purchase of units/securities and any attendant costs in connection therewith.
  • To give instructions and orders to brokers and agents at our express confirmation for the purposes of sale, purchase, transfer of the Investment Products.
  • To transfer funds from my account directly to a third party product provider/broker/agent, on my/our behalf.
  • To correspond with and give notice to third party product provider on my/our behalf.
  • To disclose, exchange, share or part with all/any information relating to me/us or my/our Account with the third party product provider (or any other third party so authorized by the third party product providers) or any regulator and/or service provider of Federal Bank.
  • To instruct the third party product providers to make note of instructions with regard to nomination/change in investment plan/any other changes.
  • To employ agents and managers on my/our behalf.

Declare

  • My/our Federal Bank Investment account will be classified as a ‘Recommended’ Account. Within a Recommended Account, Federal Bank may recommend products to me/us and conduct risk based assessments of transactions in my/our account from time to time however the final investment decision rests with me/us. All transactions so concluded shall be deemed to be Solicited unless otherwise intimated by me to Federal Bank as Unsolicited Transactions. On the basis of these assessments, Federal Bank may recommend that I/we desist from concluding a particular investment transaction.
  • That all investments so proposed to be made by me/us will be required to be commensurate to the Knowledge and Experience (K&E) with regard to such products, so confirmed by me/us in the Individual Risk Profile Questionnaire/Corporate Investment Declaration Form, as the case may be. Further, Federal Bank shall be within its rights to refuse any transactions which do not confirm to the above requirements.
  • That all transactions so proposed to be concluded by me/us are subject to Federal Bank’s internal policies and suitability assessment criteria as may be amended from time to time and Federal Bank shall be within its rights to refuse any transactions which do not confirm to the same. That in case I/We choose to invest into sophisticated financial products (complex products) as assessed by Federal Bank from time to time, the same shall mandatorily be subject to an enhanced transaction suitability review.
  • That I/We shall be responsible to ensure that the Common Transaction Form is complete, and all details as required herein are duly filled up.
  • That I/We shall consult our independent legal and tax advisors, as necessary, for legal or tax advice.
  • That all the particulars given herein are true, correct and complete to the best of my/our knowledge and belief. I/We further agree not to hold the Mutual Fund House/Asset Management Companies /Third Party Product Providers and Federal Bank liable for any consequences in case of any of the above particulars being false, incorrect or incomplete. I/we shall not hold Federal Bank liable on account of Federal Bank acting in good faith on any of my/our instructions. Federal Bank may at its discretion not carry out instruction(s) from me/us where Federal Bank has reason to believe that the instructions are not genuine or are otherwise improper or unclear or raise a doubt. I/We shall not question or dispute this decision of Federal Bank. Federal Bank shall not be liable if any instructions are not carried out for any reason whatsoever and/or for any contrary instructions so provided by me/us to the AMC.
  • That any and/or all Purchase/Switch/ Sale instructions shall be processed only if there are sufficient funds in the Account to cover the purchase price and to cover all other costs, fees and charges which are payable in connection with such transactions.
  • That Federal Bank’s schedule of charges /fees may be changed/modified by Federal Bank from time to time at its sole discretion with prior notice in case of any increase in the charges/fees and I/We hereby expressly waive the requirement of separate notice, in this regard.
  • That the role of Federal Bank hereunder is limited to acting as my/our agent for giving effect to my/our instructions as provided hereinabove
  • That any notice or other correspondence addressed by Federal Bank to me/us may be sent by Federal Bank at the mailing address /electronic mail address as Federal Bank may be aware of as the current address of the first holder.
  • That I/we confirm having received a copy of the Schedule of Commissions that Federal Bank earns /would earn from the different AMCs /Third Party Product Providers in which I/we are investing along with details of the commissions that Federal Bank earns /would earn from competing schemes of various AMCs /Third Party Product Providers.
  • That I / we can view the current Schedule of Commissions of Federal Bank online at www.Federal Bank.co.in and that the Schedule of Commissions may be varied from time to time without notice to me/us.
  • That in the event of me/us providing direct instructions to the AMC or their agents, then Federal Bank shall not be liable/responsible in this regard for any reason whatsoever. All such transactions including but not limited to the following so initiated by me/us directly with the AMC shall be at sole risk and responsibility of me/ us:
    • For any losses, depletion in value and amount, costs, that may be incurred and /or suffered by me/us in respect of the holdings so maintained by me/us with Federal Bank;
    • For any details being reflected onto the systems of Federal Bank, the same shall be on a best efforts basis on and after receipt of such information/ suitable updates from the AMC.
    • For any and/or all Non-Financial Transactions, Federal Bank shall not be liable for any change in record and the same shall only be effected in Federal Bank’s records on appropriate intimation to this accord being made to Federal Bank by me/us and/or the AMC (as applicable) in the form and manner as deemed acceptable by Federal Bank; In all such cases the AMC shall be required and responsible for maintaining appropriate records at its end I/We understand that I/We will need to update Federal Bank directly of relevant changes being effected by me/us directly with the AMC, failing which Federal Bank shall not be in position to reflect the same on its records;
    • For existing transaction concluded through the offices of Federal Bank the same shall be reflected in the Folio no. so maintained and reported by Federal Bank on a best efforts basis;
    • For any incorrect portfolio details, dividend processing and payout including reinvestment, subscription/switch into such Schemes of the AMC notwithstanding that such investment may be reflected by the AMC under Federal Bank’s ARN;
    • For any such investment made by me/ us, the same shall be deemed to be Unsolicited Transactions
    • For rejection of the proposed investment in case the same is rejected by the Mutual Fund on account of any lacunae in the form and / or contrary instructions so provided to the AMC;
    • For any investments so made by me/ us in such Schemes of the AMC which have not been approved by Federal Bank, I/We shall be liable for tracking the same notwithstanding that such investment may be reflected by the AMC under Federal Bank’s ARN
    • For any acts not attributable to Federal Bank on account of the me/us providing direct instructions to the AMC.
    • That it is my/our responsibility to inform Federal Bank of any transaction (sale/purchase) effected in my/our Market Linked Debentures.

Systematic Investment Plan (SIP), Systematic Withdrawal Plan (SWP) & Systematic Transfer Plan (STP) Terms and Conditions.

I/We understand:

That the minimum monthly amount for each investment made under the SIP/STP/SWP is Rs.500 per fund/per transfer instruction or the minimum amount/units as stipulated by the relevant SIDs/KIMs. That in case of non-availability of cleared and collected funds/ the specified mutual fund units as on the stipulated SIP execution date /STP date, the SIP/STP instruction for that month will not be carried out. If the SIP/STP/SWP execution date falls on a holiday, the same would be executed on the next business day.

The applicable transaction fees or funds purchased through the SIP/STP will be as per the terms and conditions mentioned above. The transaction fee as mentioned above, will be levied and debited to Investor’s Bank account on every SIP/STP transaction. That any instruction to cancel Investor’s SIP/STP/SWP will take 15 working days to be affected. In an event that the Ist execution date has passed, Federal Bank would process the SIP/STP/SWP instruction from the next available execution date as per Fund house/AMC notification.

Indemnity

I/We hereby agree to keep Federal Bank fully indemnified and held harmless at all times from and against all claims, expenses, loses, damages, costs (including reasonable attorney’s fees), actions, suits proceedings or demands that Federal Bank may receive from or on behalf of the mutual fund house(s)in which I/we, am/are investing, for non-execution or delays in execution of my/our above SIP/STP/SWP instructions either on account of non-availability of sufficient funds/mutual fund units in my/our account or delays in the mail/courier services or for any other reason whatsoever or for  Federal Bank being unable to accept the SIP/STP/SWP instructions for any reason.

By signing below, I/We agree to the terms and conditions of SIP/STP/SWP as contained in the Federal Bank Investment Services Account agreement. I/We acknowledge that I /we have received, read and understood the relevant SIDs/KIMs and the terms and conditions of the fund relevant fund’s SIP/STP/SWP. I/we understand that the SIP/STP is a continuous investment program which neither assures a profit nor protects against a loss in declining markets and I/we have considered my/our ability to continue my/our purchases in SIP/STP through periods of low price levels.

Other Declarations

  • I / we confirm that the KIM (Key Information Memorandum) / SID (Scheme Information Document), with Addenda of the relevant mutual fund scheme, Schedule of Commissions, Federal Bank Transaction Fee Grid, Term Sheet of the MLD, Prospectus of Bond(s) I/We are investing in, have been shared with me/us.
  • I / We have read and understood the KIM/SID including the addenda issued till date, and the Schedule of Commissions, and fully understand the associated risks and returns of the Fund(s) which I/We intend to invest. I/we understand that Mutual Funds are not obligations of or guaranteed by Mutual Fund Houses or Asset Management Companies or Federal Bank.
  • I/We agree to abide by the Terms and Conditions, rules and regulations of the Mutual Fund Schemes as on the date of this investment and confirm that the monies invested in the scheme legally belongs to me/us.
  • I/We understand that SID should be read in Conjunction with the Statement of Additional Information (SAI) at all times and not in isolation.
  • I/We shall at all times keep myself/ourselves updated and informed of the relevant SIDs/KIMs of the Mutual Fund Houses / Asset Management Companies.
  • I/We have neither received nor been induced by any rebate or gifts, directly or indirectly in making this investment. This confirmation shall be deemed to be re-confirmed and be effective for every instruction for Investment from me/us to Federal Bank.
  • I/We understand that the value of my/our mutual fund units can fluctuate. If I / We sell / redeem the mutual fund units, I / We may receive more or less than the amount I / We paid depending upon the market value of the mutual fund units at the time of redemption and that past performance is not a guarantee of future performance and a fund’s past performance should not be considered an indication on or guarantee of future performance.
  • I/We acknowledge that the term “United States Person” or “US Person”(s) refers to: (a) a United States Citizen, and/or ; (b) a United States resident; meaning a green card holder, or (c) an individual physically present in the United States for 31 days in the current calendar year and 183 days during the 3 year period that includes the current year and the two years immediately before that, counting, (i) all the days present in the US in the current year, (ii) 1/3 of the days present in the US in the first year before the current year, and (iii) 1/6 of the days present in the US in the second year before the current year; and it could also include Clients with a US address and/or, Social Security Number. For Companies / Corporations it refers to: (a) a corporation, partnership or entity organised or existing under the laws of any state territory or possession of the United States; (b) an estate or trust of which any executor, administrator or trustee is a United States Person; (c) an agency or branch of a foreign entity located in the United States; and it could also include Companies with US address and/or; Companies owned or controlled by a US Person (ownership of 10% or more by a US Person).
  • I am/we are not – Residents of Canada, US Person. I/we further declare and undertake that I/we shall, immediately upon becoming a Resident(s) of Canada, US Person, person not resident in India who is a Non Resident Indian (s), or a Person of Indian Origin inform the Bank of such change in my status.
  • I am/we are not a US person for purposes of US federal income tax, and that I am not acting for, or on behalf of, a US person. I am not resident in the US. I acknowledge that a false statement or misrepresentation of tax status by a US person could lead to penalties under US law. If my tax status changes and/or I become a US citizen or resident of the United States or change my mailing address to the USA, I undertake to notify Federal bank within 30 days of such change in status.
  • In the event, I become a US person, Residents of Canada, person not resident in India who is a Non Resident Indian (s) or a Person of Indian Origin, I agree that Federal bank shall be entitled to do all acts and things it deems necessary, including but not limited to (i) blocking of account through the Federal Bank Online Platform (FEDNET); (ii) closure of my/our account, (iii) non-acceptance and/or rejection of any instructions provided by me to purchase any investment product, (iv) liquidation of the affected assets and/or (v) a transfer of my account to an alternate vehicle; in order to ensure compliance with applicable local laws; applicable laws/rules and regulations of the customers country of residence and/or any internal policies and any execution of such transactions will be governed by the same. I agree to bear all costs and expenses incurred by Federal bank as a result thereof.

Additional Terms and Conditions applicable to Investment Services                           

  • I/ We understand that Mutual Fund transactions executed through my/ our Investment Account with Federal Bank will be routed through NSE Mutual Fund Platform (NMF II platform) of National Stock Exchange of India Ltd (NSE) and by signing this Registration form, I/We confirm our acceptance to register ourselves under NMF II   Platform and abide by the terms and conditions, as may be prescribed by NSE in this regard from time to time.
  • I/WE understand that NMF II is a platform being used to route Mutual Fund transactions from Federal Bank to respective Asset Management Committees (AMCs) and Registrar and Transfer Agents (RTAs).  I/We hereby undertake to indemnify NSE against any loss or damage caused, pursuant to the actions done by NSE in good faith, based on the order feed from Federal Bank, or for any other actions done for facilitating the transactions through NMF II
  • I / We confirm that information provided by me/ us is true and correct and I/ We acknowledge and undertake the responsibility of the information provided by Federal Bank to NSE in connection with my / our Investor Account and further confirm that NSE will not be responsible or liable for any loss or claim or liability that may arise on account of incorrect / erroneous data / information provided by me/us
  • I /We authorise NSE to collect the following data /information pertaining to my/our Mutual Fund investments from all Asset Management Companies (AMCs) and their respective Registrar and Transfer Agents with whom I/We transact. The data / information authorised to be collected are:
    • Distributor Wise transaction data for past, present and future transactions carried out by me/ us through various transaction platforms including the transaction request submitted at any point of acceptance of the AMCs subject to the condition that distributor is registered with NSE NMF II platform.
    • Scheme wise consolidated unit balance available in my/our accounts as and when required.
      Disclaimer: Mutual fund investments are subject to market risks. Please read the scheme information and other related documents before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs and shall verify and satisfy yourself before choosing a fund, or designing a portfolio. Federal Bank Ltd makes no warranties or representations, express or implied, on the products offered through this platform and/or regarding the advisory services rendered by the third party in any manner or form. The Bank accepts no liability for any damage or loss whatsoever caused in connection with the use of, or on the reliance placed by you on the investment products or related services including advisory services provided by the third party. Federal Bank provides investment services only as a distributor of third-party investment products and does NOT provide investment advisory services in any manner or form. Investment products do not pertain to Federal Bank. Federal Bank does not warrant that the functioning of the platform shall be uninterrupted or error free. Federal Bank also does not warrant or make any representation regarding the use or the result of the use of the material /information/advice provided in terms of their correctness, accuracy, and reliability or otherwise. Federal Bank is offering online Mutual Fund services through our partnership with NSE platform.