Terms & Conditions of Fixed Deposit Instant Credit Card
1. In order to avail the Fixed Deposit Instant Credit Card, the applicant shall be required to maintain a minimum fixed deposit of Rs. 20,000 with ICICI Bank. 2. The credit limit on the Fixed Deposit Instant Credit Card shall be eighty five percent (85%) of the fixed deposit amount ,subject to minimum credit limit of Rs. 17000/- and maximum of Rs. 3 lacs. The said credit limit may be subject to change at the sole discretion of ICICI Bank from time to time. 3 All fixed deposits for the purposes of availing the Fixed Deposit Instant Credit Card shall be opened by the Applicant upon duly filling in the prescribed application form or by any other mode as may be prescribed by ICICI Bank from time to time, but which shall exclude application by using phone banking, mobile banking and/or internet banking channels. The fixed deposits so opened shall be renewed on a auto-renewal basis and in addition to these Terms and Conditions, the terms and conditions pertaining to Credit Card & Fixed Deposit Instant Credit Card available at www.icicibank.com, shall also be applicable. 4. Upon issuance of the Fixed Deposit Instant Credit Card, ICICI Bank shall mark a lien on the entire fixed deposit amount deposited by the Cardholder, excluding interest earned by the Cardholder, until the termination of the Fixed Deposit Instant Credit Card or the fixed deposit, as the case may be. 5. In the event that Applicant has an existing fixed deposit with ICICI Bank, the fixed deposit amount will be linked to the Applicant’s Card Account and the fixed deposit will be converted in an auto- renewal mode with immediate effect. 6. The Cardholders shall not have the right to make any part withdrawals from the fixed deposit linked to the Card Account. 7. The tenure of the fixed deposit opened for availing the ICICI Bank Fixed Deposit Instant Credit Card shall continue on an auto-renewable mode unless terminated or cancelled. 8. The fixed deposits opened by HUFs, Partnership firms shall not be entitled for Fixed Deposit Instant Credit Card. 9. In case the Applicant opens a fixed deposit with another person jointly, the Fixed Deposit Instant Credit Card will be issued only to the first account holder as per the details provided in the application form. 10. The Applicant shall have the right to nominate a person for the fixed deposit opened by the Applicant. 11. In the event the Cardholder wishes to withdraw/ terminate the fixed deposit amount or In case the Fixed Deposit Instant Credit Card is cancelled by the Cardholder/ ICICI Bank, or in case of termination of the fixed deposit upon the death of the Cardholder, the Cardholder/ nominee shall be entitled to the balance fixed deposit amount including the interest accrued, after deduction of any amounts due and payable by the Cardholder to ICICI Bank including any charges, fees etc due to ICICI Bank. The Fixed Deposit Instant Credit Card shall upon the death of the Cardholder stand terminated. 12. In case the Cardholder fails to pay the amount outstanding on the Fixed Deposit Instant Credit Card within 90 days from the date of the Statement, ICICI Bank shall have the right to liquidate the entire fixed deposit amount and set off from the fixed deposit amount the outstanding amount payable to ICICI Bank, against the Fixed Deposit Instant Credit Card and only the balance amount post deduction shall be refunded to the Cardholder. 13. The activation of Fixed Deposit Credit Card is subject to successful opening of Fixed Deposit.