Terms and Conditions

1. These terms and conditions shall apply to distribution of mutual fund units by HDFC Bank Limited (“ Bank which expression which expression shall, u nless it be repugnant to the context or meaning thereof, be deemed to include its successors and assigns), as a distributor registered with Association of Mutual Funds in India AMFI ”) and are in addition to the other terms and conditions and documents si gned/accepted by me / us from time to time.

2. The Association of Mutual Funds of India Registration Number ARN ”) holder, being the Bank has disclosed to me/us all the commissions (in the form of trail commission or any other mode), payable to it for the different competing s chemes of various m utual f unds from amongst which the s cheme s are being recommended to me/us.

3. In terms of S ecurities and Exchange B oard of India SEBI Circular, No IMD/SM/7179/2010 dated June 2 2010 unitholders have been allowe d unfettered and unrestricted access to transact at A sset M anagement Companies (“ AMC / Registrar Transfer Agents(“ RTA ”)”). Please note that in light of this change the Bank is directly dependent on the AMC and it is for AMC to ensure that feeds received fr om the AMCs / RTAs are in line with the above regulatory change. Therefore, I/ W e acknowledge that it is not in Bank’s control or responsibility to check or remove any mismatch of information given by AMC or rejections of any transaction.

4. Authorisation
I /We hereby appoint and irrevocabl y authorise the Bank , its authorized employees / agents as my/our agent /distributor to act on my instructions to purchase and redeem units of mutual funds (as specified in the clause 1 3 below) on my/our behalf, as may be in structed by me/us from time to time, on the terms and conditions mentioned herein. I/We agree that the Bank may at its sole discretion vary the terms and conditions or withdraw any of the facilities provided herein from time to time. I/We hereby state that all the acts, deeds and things done by the Bank based on the transaction instructions given by me/us shall be
binding on me/us.

I/We irrevocably authorise the Bank to execute my /our instructions with regards to purchase or redemption of the units.

Tran saction rights will be pursuant to the investor executing and granting a mandate in favour of the B ank, in the manner and form as prescribed by the Bank from time to time. A mandate will be applicable to all investment a ccounts whether presently existing or to be opened in future.

5. Purchase/Sale
All transactions through the Investment Services Account platform ("ISA") is initiated by me on Net banking and mobile banking platform and are Execution only transactions.

I/We hereby confirm that the transactions executed by me through ISA platform do not require Employee Unique Identification Number (“ EUIN") as this transaction is executed without any interaction or advice by the employee/relationship manager/sales person of the Bank or notwithstanding the advi ce of in appropriateness, if any, provided by the employee/relationship manager/sales person of the distributor/sub broker.

Transaction instructions only from registered investors of ISA would be processed. Registered investors can only purchase, redeem and switch mutual fund units through this service.

There may be an entry and/or exit load in m utual fund schemes, which are mentioned in the offer document.
Please check the same before investing. Investments from residents in the United States of America and Canada are not permitted in certain mutual funds. The Bank shall not be liable for any rejections of such applications by mutual funds, including where investor is a United States of America and Canada resident.

Further, the AMC, in its sole discretion and based on its internal compliance policies, may modify such restrictions from time to time . All transactions processing are subject to AMC internal checks either basis reporting or address as available in ‘know your customer registry’ ( KRA ) database

Purchase instructions by me/us shall be processed by the Bank only after funds sufficient to cover the purchase price and other costs and charges have been received by the Bank. If for any reasons the Bank is unable to purchase or redeem the full quantity of units as instructed by me/us, the Bank shall not be liable for the same and I/We hereby irrevocably authorised the B ank to purchase or sell (as the case may be) a lesser quantity of units/securities. The Bank shall not be responsible for the non executi on of my/our instruction for the entire quantity or the remaining quantity.

If after execution of any transaction it is for any reason found that the Bank has not been put in sufficient funds, I/We shall pay the deficient amount to the Bank forth with on de mand failing which the B ank may (but shall not be bound to) square up the transaction at any time at my/our sole risk and cost and I/ We hereby irrevocably authorise the Bank to square off and take related actions for this purpose for any price there available . Any loss on such squaring up will be borne by me/us solely and I/We will pay to the Bank the additional amount that may be payable by me/us, the Bank's demand being conclusive.

I/We acknowledge that the units of the schemes shall be allotted, redeemed or switched, as the case may be, at the Net Asset Value (”NAV”) prevalent on the date of the application by the m utual fund, if the application for purchase, redemption or switch is received by the m utual f und before the cut off time as specified by the B ank and consistent with the terms of the s cheme. Liability for any loss that may arise to me/us as a result of the incorrect NAV is solely my own /our s . It is a mutual fund's price per share or exchange traded fund's (”ETF”) per share value. In both cases, the per share dollar amount of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of ffund shares outstanding applied on units allotted to me/us by the mutual fund.

I/We acknowledge that any transaction request falling due on a holiday would be processed on the next business day and respective NAV In both cases, the per share dollar amount of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding would be applicable as per the mutual f und's offer document. I/We acknowledge that transactions once placed cannot be cancelled.

For liquid funds please refer cut off timings under ISA With ef fect from 1st October 2015, the Bank has 'opted out' for transaction charge.

As per SEBI circular Cir/IMD/DF/19/2010 dated November 26, 2010 splitting of transactions which aggregate to Rs 1 crore or more on a business day in income/ debt oriented schemes other than liquid fund schemes) are prohibited. The Bank urge investors to avoid such practices.

Important: Execution through ISA will be initiated with instant debit hence investors are requested to check scheme details/business day's & cut off time before initiating a transaction.

6. Communication of Instructions

All instructions (including instructions for modification of this clause) shall be given only by the first holder above, on behalf of both/all of us and for th is purpose I/We the second and the thi rd holders above irrevocably constitute the first holder above as my/our agent. All instructions given by the first holder above shall be binding on both/all as if given by each of us personally. I/We agree that the instructions may be for purchase of unit s in the sole name of the first holder or in the name of the first holder jointly with other persons to the exclusion of the second or the third holder. I/We hereby authorise the Bank to act on such instructions given from time to time.

The instructions for subscription and/ or redemption of the units may be given through the Bank's net banking , written instruction and electronically or in any other manner acceptable to Bank, in compliance with the two factor authentication (2FA) and signature method as prescribed by the SEBI vide circular dated September 30, 2022 or as may be amended from time to time.

I/We agree and acknowledge that units purchased by giving instructions through any of the above modes will be instructed for redemption through any of th e above modes only.

The Bank may refuse to act on any instruction unless they are given in a manner and form acceptable to the Bank. However the Bank shall have no responsibility to determine the authenticity of any instruction given or purported to be given by me/us. I/We shall not hold the Bank liable on account of B ank acting in good faith on any of my/our instructions.

The Bank may at its discretion not carry out my/our instructions where the Bank has reasons to believe (which decision of the Bank We shall not question or dispute) that the instructions are not genuine or are otherwise impro per or unclear or raise a doubt. The Bank shall not be liable if any instructions are not carried out for any reasons whatsoever.

I/We clearly agree that the Bank needs to receive clear instructions from me/us to induce the Bank to effect fund transfer activities on behalf of me/us.

I/W e agrees to indemnify the Bank against any improper/fraudulent fund transfer instruction purported to be received from me/us. Th e Bank shall not be obliged to accept from me/us any oral or facsimile instructions. In order to, however, induce the Bank to act upon communications and instructions transmitted by manual procedures (facsimile, mail, messenger, telephone call centre) I/We hereby irrevocably agree that, in the absence of the Bank(s) gross negligence, bad faith or wilful misconduct, as long as the Bank acts in compliance with such authorisation / instruction, the Bank shall be indemnified for and held free and harmless from and against any and all responsibility for, any and all costs, claims, losses or liabilities of any nature ( direct or indirect) resulting from any act of omission (or any delay) in response to instructions to the Bank to transfer or purchase, sell or other wise dispose off commodities or securities, together with any and all attendant costs and expenses including the Bank(s) reasonable legal fees and expenses, collectively referred to as losses.

I/We also acknowledges that the security and the control proc edures provided by the Bank are designed to verify the source the communication and not to detect errors in transmission or content including discrepancies between names and account numbers and that the Bank, or any intermediary, may execute an instruction by reference account number only, even if the name on the account is also provided. Nothing contains herein shall require the Bank to violate any applicable laws, rules or the procedures/Instructions.

The Bank shall have no further duty to verify the cont ent of any instruction and communications, whether or not authorised, sent in its name and accepted by the Bank. The Bank will process the transaction instruction as it is received and will not validate the same for holdings, correctness of transaction and any other information

7. Statement of account
I/We agree and acknowledge that the AMC (Mutual Fund ) shall regularly send to me/us (only to first holder) communications like a ccount s tatements, fund updates etc.

8. Charges and fees
All sales and purchases and all other acts done by the Bank for me/us pursuant to these terms and conditions shall be at my/our risk and cost and in consideration thereof, I/We agree to pay quarterly maintenance c harges as per the Bank's schedule of charges/fees. The schedule of ch arges is subject to change without prior notice and consent to such changes, which may be made in future. I/We agree and understand that the Bank' s charges/ fees are in addition to those levied by the mutual fund c ompany. All our liabilities and obligation s hereunder to the Bank shall be joint or several.

The charges/fees shall be paid by me/us to the Bank on my/our giving instructions to the Bank. All fees, charges and reimbursement of expenditure shall be paid or made in full by me/us without any counter claim, set off or withholding. All our liabilities and obligations hereunder to the Bank shall be joint or several. I/We agree to pay charges for Standing Instruction (”SI”) failure due to insufficient funds in my/our account.

9. Rights of Lien and set off
The Bank is authorised to debit any of my/our a ccount s for all liabilities, costs, charges as may be payable by me hereunder. The Bank will have charge and right of l ien and set off on all my/our securities /units /monies in its possession or custody and all monies standing to my /our credit with or in any account in any branch of the B ank (whether in my sole name or jointly with any other or others) for all sums due or payable by me/us to the Bank hereunder. In the event of default on my/our part in disch arging my /our obligations to the Bank hereunder, the Bank shall be entitled to enforce the charge by sale of such units/securities and to appropriate the net proceeds or any credit balance aforesaid in l iquidations of my/our liabilities to the Bank

10. Power of the Bank
I/We hereby authorise the Bank to exercise the following powers on my/our behalf at such time in such manner as it may in its discretion think fit for the purpose of performing its powers, duties and responsibilities set out here under.

To do or omit to do all such and things as the Bank may in its discretion consider to be necessary or desirable in order to perform its duties hereunder or to comply with any laws, orders, rules, regulations or directions of any Government or regulatory or other authorities.

Appoint on my/our behalf any agents /nominees/sub custodian or any other person for d oing any acts or deeds hereunder including the keeping of d ebentures in safe custody.

Generally, to employ agents/attorneys, brokers dealers and managers on my/our behalf.

11. Role of the Bank
The Bank’s role is solely to distribute the mutual fund units, and as such Bank has no role in the operations or design of the mutual fund schemes or performance thereof. None of the mutual fund’s schemes distributed by the Bank are Bank’s own, and the Bank only makes me/us aware of these schemes on as is where is and as is what is basis. I/We know that we have to be solely guided by mutual fund scheme documents and not by any of Bank’s literature. As Bank does not advice on investment or exits, I/We have to make our independent judgment whether to invest/exit or not or seek advice independent of the Bank on these matters including on taxation. I/We understand that any investment/exit transaction is directly between me/us and the mutual fund independent of and without involving the Bank, as also that Bank’s distribution shall not be taken as Bank’s representation of soundness or performance of any mutual fund scheme.

Not withstanding anything stated herein , the Bank acts solely as a distributor of mutual funds and does not provide investment advisory services.

Any liability for loss or damage caused by reason of failure or delay of mutual fund ( AMC/RTA) to deliver any units purchased even though payment have been made for the sam e or failure or delay in making payment in respect of any sold though they may have been delivered, and we shall save the Bank harmless and free from any claim in respect thereof. Any liability for any delay, failure or refusal of the mutual fund/any company/corporation or other body in registering or transferring units to my/our names of for any interest, dividend or other loss caused to me/us arising therefrom shall be solely mine/us

Any liability for any error or inaccuracies for any of the publicly a vailable information that may be provided to me/us by the Bank shall be solely mine /us

The Bank shall be under no duty to verify compliance with any restrictions on my/our investment powers.

The Bank will not be liable for any loss, damage, cost, charges or expenses directly or indirectly caused by reasons of any defects or imperfections or mechanical or other failure with relation to computer, cable, telex,telephone or postal system.

I /we understand that any sum invested through the Bank’s ISA is not a deposit with the Bank and is not Bank insured. The same is not endorsed or guaranteed and does not constitute obligations of the Bank or any of the subsidiaries associated or affiliated companies whose role in only as described in these terms and conditions. The securities purchased are subject to investment risks, including the possible loss of principal amount invested. The value of my units/securities will fluctuate. If I/We redeem my units/shares, I/We may receive more or less than I/ w e paid depending upon market value of the securities in the fund or trust at the time of redemption. Past results ar e not a guarantee to future performance. Yield or performance fluctuates and reflects past results. Yield or funds past performance should not be considered as an indication or guarantee of future yields or results.

12. Correspondence
Any notice or other correspondence addressed by the Bank to me/us may be addressed to the first holder above at the address given by me/us above or to such address as the B ank may be aware. If according to me/us there is any discrepancy in the particulars or details of any transac tion or account of statement then I /we shall be obliged to intimate the same to the Bank in writing in 10 days of the first holder receiving notice thereof, failing which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by me/us and I/ w e shall not be entitled to question the correctness or accuracy thereof.

Authority to the Bank
I/We author ises the Bank to do, perform or execute upon my/our express instructions and at my/our risk and cost, all or any of the following acts, deeds, matters and things: To subscribe to the units of the mutual fund & securities on my /our behalf and to pay to the units/securitie s so purchased, on my/our instructions.
a. To receive the account statement pertaining to the above units/securities and to acknowledge receipt of the same.

b. To redeem /sell the units/securities held by me/us (whether solely or jointly with others) and to receive the payment of the redemption/sale price and acknowledge receipt of the same, based on my/our instructions.
c. To sign all such writings and do all such acts as may be required for redeeming any units/securities.
d. To collect, receive and give good effectua l receipts and discharges for any sum including dividend, interest or income arising from the units/securities and to sign and endorse dividend and interest warrants.
e. To collect and deposit monies in an account opened in my/our name with the Bank and to ma ke such debits in the said account as may be necessary.
f. To give instructions and orders to brokers and agents including instructions and orders of sale, purchase, transfer, splitting and consolidation of securities and to pay remuneration, brokerage, commissions and other sums to such brokers and agents
g. To correspond with and give notice to the mutual fund and corresponding asset management company on my/our behalf.
h. To instruct the mutual fund and/or the corresponding asset management company to make note of instructions with regards to nomination /changes in investment plan/any other changes.

13. Holding Pattern and Investor details
The holding pattern of the investor would be based on the B ank account holding pattern. Also there would be no change allowed i n the holding pattern once the ISA account is activated even if there is a change in the holding pattern in the Bank account.

The other requisite data (which is not part of the form) required to be reported to AMC / RTA will be extracted from the Bank account details maintained for the f irst holder Any changes in Bank records directly by the customer will not get auto updated in ISA records and needs to be specifically communicated and separate instruction for change required to be shared with Bank for changes in ISA records.

14. Termination
The Bank or myself/ourselves may terminate the aforesaid services by giving 30 days prior notice in writing to the other party provided that I/we shall not be relieved of my/our obligations hereunder notwithstanding such termination incurred prior to the date on which such termination shall become effective. The Bank may at its discretion withdraw any of the services provided herein at any time.

15. Governing Law and Jurisdiction
All disputes and differences arising out of, under or in connection with these terms and conditions or anything done hereunder shall be within the exclusive jurisdiction only to the courts of Mumbai. Further these terms and conditions are subject to and shall be construed in accordance with the laws prevalent in India.

Declaration,

I/We have read and understood the t erms and c onditions (a copy of which is in my/our possession) applicable to ISA . I/We agree to abide by the same including those excluding /limiting my/our liability . I/We declare that the particulars given above are true to the best of my/our knowledge as on the date of making such applications. I/We hereby undertake to inform, in writing, of any change in the particulars furnished above. I/We hereby undertake to keep the Bank informed of at all times, of any change /alteration in my / our particulars furnished during registration to th e Bank and authorize the Bank to update any change / alteration in my / our aforesaid particulars that the Bank may be informed of by me / us. I/We hereby confirm
that the no transaction advices or instructions are being provided by the Bank and/or its employees. I/We hereby confirm that all decisions to purchase or sell units/securities made by me/us are on the basis of my/our own personal judgment arrived at after due consideration . I/We further agree that any false/misleading information given by me/us o r suppression of any material fact will render my/our account liable for termination. I/ W e hereby declare that all the details in my /our relationship record are true and correct and any instruction given to you to transact business on my/our behalf shall in due conformity with
the applicable laws as may for the time being be in force. Any tax implication arising out of any transactions entered in to pursuant to these terms and conditions would be as per the provisions of Income Tax Act, 1961, or any modifi cation or re enactment thereof. I/We agree and declare that any and all tax liability will be my/our sole responsibility. I/We shall execute and deliver to t he Bank, from time to time such other documents as may be specified by the Bank for compliance or updating of records if any. I/We further agree to indemnify the Bank for any loss that may arise as a result of system failure, accident or any of the reasons mentioned above. I/We shall indemnify the Bank against all losses, damages, expenses, costs, liabilities and claims (including third party claims), actions, suits, proceedings damages, including reasonable attorney fees, of whatsoever nature caused by fraudulent or unauthorised use of my/our signatures or unauthorised use of my /our telephone personal Identification number and/or breach of my/ our obligations as contained herein. I/We hereby confirm that the nomination for the units will be informed by me/ us at the time of every purchase and shall apply to my/our transactions done through the Bank. In case of any changes in the nomination mentioned by me/us earlier, the same will be intimated through a written request by me/us to the Bank directly and the changes shall apply for all future transactions after the receipt of the intimation at the Bank’s office/department within stipulated time period. I/We agree and acknowledge that the facility provided herein is presently available in respect of select mutua l funds only with whom the Bank has entered into a separate arrangement as a distributor. I/We agree and acknowledge that any instruction given or purported to be given by me/us before the cut off time as may be intimated by the Bank to me/us from time to time, would be processed on the same day. Any instructions received after the prescribed cut off time will be processed on the next working day. I/We acknowledge that after the first purchase transaction in any mutual fund, I/We may not be permitted to tra nsact for a period of 4 to 7 business days till the folio number is allotted, depending upon the processing time of the mutual fund's registrar. I/We alone shall bear all liability for delay in processing time at the mutual fund's or registrar's end as Ban k has no role in that I/ We agrees that the Bank account linked to the ISA will not be closed till the time all my investment holdings are either redeemed or transferred to physical form method. I/We jointly and severally bound by the terms and condition s of the Bank's ISA I/We agree to pay the quarterly maintenance charge for ISA.