Boi net banking transaction ledger
Before a withdrawal, you have to produce satisfactory evidence of your identity, if requested by us, and evidence of your authority. Payment to Third party: Payment by us to a person producing satisfactory evidence of his identity and, if requested by us, a withdrawal form which appears to be signed or chopped by you or according to your authorisation has the same effect as if made to you personally.
By making that payment, we discharge all our liabilities to you or any other person with respect to the amount paid. Interest payable on credit balances in current accounts are governed by interest rate directives of the RBI and currently no interest is payable on credit balances in current accounts. Deposits in the account do not attract any interest. Customers will repay to the Bank on demand and the amounts of overdrafts which the Bank may grant from time to time in the account together with the interest accrued thereon.
This should not be construed as an agreement, either expressed or implied, that the Bank is bound to grant any overdraft facility whatsoever. For overdrawn accounts, interest is charged at prevailing interest rates on the daily outstanding in the accounts. In the absence of any special arrangements, the Bank is not required to honor any cheques drawn by the accountholders if in doing so the account would become overdrawn and in these circumstances the Bank reserves the right to debit the account with the charge for each returned cheque.
A savings account maybe opened by one or more persons approved by the Bank. The arrangement decided upon will also hold for survivors.
In line with RBI requirements, passport sized photographs of all accountholders will have to be submitted to the Bank along with other documentation for opening a new account. Cash withdrawals should only be made on the printed cheque forms supplied by the Bank or through ATMs. The Bank reserves the right to apply the specified service charges as stipulated in the printed Tariff.
The account should not be overdrawn nor should cheques be drawn against funds in course of realisation. Where a Savings Account is closed during an interest period whether by you or by us for any reason, interest is payable only up to the last calendar day before closure. You may make withdrawals from your Savings Account at our counter during business hours of our branch.
With effect from 1st April , interest on the savings bank accounts will be calculated on daily product basis. The interest will be credited to your account on a quarterly basis as per RBI Master Direction on Interest on Deposits dated March 03, with effect from 01 July Customers are obligated to repay the principal and interest on their overdraft accounts which the bank may grant them from time to time.
In the absence of any special arrangements, the Bank is not required to honour any cheques drawn by the account holder s if in doing so the account would become overdrawn and in these circumstances the Bank reserves the right to debit the account with the charge for each returned cheque. Deposits The initial minimum deposit to open an account is as per our current proposition level Tariff. Average minimum balance as per our current Tariff should always be maintained, failing which a service charge will be levied as indicated in the respective proposition level tariff.
The Bank reserves the right to close at any time any account in which the minimum balance is not maintained with a 30 days prior notice to the accountholder s. Cheques, dividend warrants and other instruments in the name of accountholder will be collected but those in favour of payees other than the accountholders will not be accepted for collection.
Also closure of account requires signatures of all accountholders. A charge as per our current Tariff will be recovered from an account holder before the expiry of the specified number of months from the date of opening the account. Board resolution is required to be submitted for closure of a Company Account. All partners are required to sign for closure of a partnership account. ATM Funds Transfer - 1.
The customer can authorise the Bank to transfer funds from his account to third party beneficiaries as specified during operation of the ATM, subject to the Bank's policies. The Bank may, at its discretion, withdraw temporarily or terminate the ATM funds transfer facility with due intimation to the customer.
The Bank reserves the right to change the maximum per day limit for funds transfer through the ATM with due intimation to the customer.
We have the right to suspend or terminate all or any part of the Services, any one or more Accounts if we are of the opinion that any of the following events occurs or continues, with immediate effect by giving notice to you at any time except that no notice need be given in the case described in paragraph f below: Information with regard to various types of fixed deposit accounts, the currencies in which these deposits can be maintained, the tenures for which such deposits can be maintained etc.
A fixed deposit account will be opened under a customer ID upon receipt of a duly filled in application form by the customer. A fixed deposit may only be placed in such currencies and with such minimum initial deposit with respect to a range of maturity tenures as determined by the Bank from time-to-time and this in turn is subject to RBI guidelines.
Where the Bank receives an instruction to place a fixed deposit by clearance of a cheque deposited by the customer, the Bank will value date the fixed deposit to the date on which funds are received by the Bank after clearance of the cheque; 3.
If you give an Instruction to renew automatically a time deposit, our prevailing interest rate on the maturity date will be the interest rate for the renewed term 5. You should give Instructions including any amending Instruction regarding disposal of funds at maturity of a fixed deposit at least one Business Day before its maturity date. You may give that Instruction by letter duly signed by all fixed deposit holder s , or thorough authenticated instructions through Internet Banking or PhoneBanking if the same is allowed as per the mode of operation of the account or other means as may be accepted by us.
If we do not receive maturity disposal instructions in relation to your fixed deposit by its maturity date, the fixed deposit will be renewed automatically on maturity for the same duration as the maturing fixed deposit.
In case of cumulative fixed deposits, the accumulated interest will be added to the principal and renewed along with the principal, subject to extant regulations in this regard. In case of cumulative Fixed Deposits the interest is compounded quarterly at the prescribed rate and is paid to the accountholder along with the principal at the end of the term. Where the maturity date of a fixed deposit falls on a day other than a business day in India, the fixed deposit shall be payable on the next business day.
At the request of the customer, the Bank may at its discretion repay a fixed deposit before the due date subject to the following: For term deposit with tenor less than three months or where the terminal quarter is incomplete, interest is calculated proportionately for the actual number of days reckoning the year at days days for leap years.
In case of non-cumulative deposits, interest is paid out quarterly or half yearly as preferred by customer. The Bank shall declare their policy for penal interest rates for premature withdrawal of term deposit. Interest shall be paid one percent less than the rate prevailing on the date of placement of deposit applicable to the amount and period for which the deposit remained with the bank not at the contracted rate. No interest will be paid on premature withdrawals of deposit which has remained with the Bank for less than the minimum period for which deposits were being accepted for the said currency and deposit type, as on the date of placement of deposit.
In case of foreign currency fixed deposits, where no interest is payable on account of withdrawal prior to the minimum deposit tenure, the Bank may, at its sole discretion, levy a penalty to cover the swap cost, as permitted under extant regulations.
It is essential for the first holder in joint account to provide PAN details to the bank to avoid deduction of tax at higher rates. TDS, when due and applicable will be deducted in accordance with the provisions of the Income Tax Act, and the Rules thereunder as in force.
Please designate the account from where you would like the TDS amount to be deducted for all existing accounts. Please contact our branch and submit the necessary documents in case lower TDS applies as provided by the relevant tax treaties.
These documents should be submitted along with the Account opening Form and also before the start of each new financial year. HSBC India reserves its right to reject any such claims if the respective terms have not been adhered to.
The bank will report the number along with prescribed particulars in the TDS statement furnished for the quarter to the Income Tax authorities. In case Form No. The bank will not accept the declaration where the amount of income exceeds the maximum amount which is not chargeable to tax. For deciding the eligibility, the bank is required to verify income reported by the customer in columns 16 and 18 in form 15G. Form 15 H The bank will allot a unique identification number to all the Form No.
The bank will report the number along with prescribed particulars in the TDS statement furnished for the quarter, to the Income Tax authorities. For deciding the eligibility, the bank is required to verify income or the aggregate amount of incomes, as the case may be, reported by the customer in columns 15 and 17 in form H. The requirement of submitting physical copy of Form 15G and 15H by the bank to the Income Tax authorities has been dispensed with.
The bank will, however be required to retain the Form No. A senior citizen is defined as a person above the age of 60 years. Deposits held by minors are subject to TDS. The credit for the TDS can be claimed by the person in whose hands the minor's income is included. The term 'Non-Resident Indian' refers to Indian nationals and foreign passport holders of Indian origin. All deposits, whether savings, current or time deposits are placed with the Bank under the Reserve Bank of India RBI regulations, and are governed by and subject to laws in effect from time to time and payable only at the branch where such deposits are made.
All other deposits may be tendered in any other acceptable currency but are maintained in Indian Rupees. The Bank reserves the right to reject any deposit application without assigning any reason whatsoever. Deposits established with the proceeds of cheques will be value-dated after clearance. The Bank shall not be obliged to accept or repay the deposit s in cash.
The foreign currency equivalent of the principal and interest on repatriable Rupee deposits and accounts can increase or decrease depending upon foreign exchange fluctuations.
The opening, operation and maintenance of such account shall not in any manner contravene or violate the provisions of the Act and the rules and regulations made thereunder. You are requested to provide a declaration for the same Do note that non adherence of the said guideline will render yourself liable for penal action under the Foreign Exchange Management Act FEMA. Types of Accounts NRE account: Local credits are not permitted.
Both principal and interest are fully repatriable. This account can be funded by remittance from overseas or through local sources. Interest accrued on Fixed Deposits is repatriable after tax deduction at source. Principal is not repatriable. On the expiry of the first holder, the other holders i. This account can be held in foreign currency only.
Fixed Deposit accounts 1. Details about the various periods, current rates of interest and minimum deposits are available upon request. The rate of interest payable on the deposit as prescribed by the Bank is subject to the directives that may be issues by the Reserve Bank of India from time to time. In case of a cumulative Fixed Deposit, the interest is compounded at quarterly rests at the prescribed rate for local currency deposit and at half yearly rests for foreign currency deposits and is paid to the accountholder along with the principal at the end of the term.
Interests on an Ordinary Fixed Deposit is payable to the accountholder every quarter in case of local currency deposits and at half yearly rests for foreign currency deposits and is paid to the accountholder along with the principal at the end of the term. In the case of NRO deposits, tax is deducted at source at the rate of The deposit will be renewed automatically on the due date for an identical period at the applicable rate of interest ruling on the date of maturity unless an instruction to the contrary is received from the depositor by the Bank.
The renewal will be in accordance with the provisions of the relevant Reserve Bank of India scheme in force at the time of renewal. No interest is payable, where premature withdrawal of deposits takes place before completion of the minimum period prescribed by RBI. In case of FCNR B deposits, premature withdrawals will be subject to the penalties as determined by the Bank from time to time on account of interest rate movements and swap cost movement.
The interest on FCNR B deposits accepted under the scheme should be paid on the basis of days to a year. The interest on FCNR B deposits should be calculated and paid at intervals of days each and thereafter for the remaining actual number of days.
However, the depositor has will has the option to receive the interest on maturity with compounding effect. In case local Indian address proof is not available then, within a period of 30 days of opening the account, the foreign student should submit to the branch where the account is opened, a valid address proof giving local address, in the form of a rent agreement or a letter from the educational institution as a proof of living in a facility provided by the educational institution.
The account operation during this 30 days period will be restricted to receiving credits of foreign remittances into the account and withdrawals can be done only at the branch counters. Further during the 30 day period, pending address verification, foreign remittances credit to the account will be limited to USD 1, and the withdrawal will be limited to Rs. On submission of the proof of local Indian address, the account would be treated as a normal NRO account, and will be operated as per the terms and conditions for Non-Resident Ordinary Rupee NRO accounts.
Bank at its discretion may offer higher rate of interest on Fixed Deposits for resident Indian Senior Citizen customers.
Resident Indian Senior Citizen Customers are therefore requested to check the applicable interest rates valid for Senior Citizen Customers displayed at our branches or visit Bank's website at www. The Bank may, at its sole discretion, impose reasonable restriction concerning the operation of minor accounts and such restriction may also include nonprovision of certain facilities such as ATM cards, debit cards, PhoneBanking, Internet Banking, etc.
Withdrawals by cash or cheque: We have the right to pay any amount you withdraw from an Account by any one or more of the following methods: You are responsible for keeping your cheque books and cheques safe from loss, theft or unauthorised access or use, under lock and key or taking other safeguards as appropriate. Applications for a new cheque book may be made by presenting a duly completed and signed cheque book requisition slip to the Bank or by any other means of written instructions duly signed by all fixed deposit holder s or thorough authenticated instructions through Internet Banking or PhoneBanking if the same is allowed as per the mode of operation of the account.
The Bank may also, at its sole discretion, issue cheque books to the customer, without any request from the customer, if as per its records, the customer has substantially utilised the cheque leaves previously issued to the customer. New cheque books will be dispatched to the customer by post according to the address record kept by the Bank or by such other means as determined by the Bank.
The Bank assumes no responsibility for any delay or loss caused by any mode of dispatch. We may, at our sole discretion, refuse to issue a cheque book on any account, which is not maintained satisfactorily such as excessive cheque returns, etc.
Upon receipt of a cheque book or before use, you should check the cheque serial number, account number and your name printed on the cheques and the number of cheques, and report any irregularity to us as soon as reasonably practicable. You cannot print cheque books or other payment instruments without our prior written approval. For any change in the payee's name, courtesy amount amount in figures or legal amount amount in words , etc.
This would help banks to identify and control fraudulent alterations. The customer acknowledges that the Bank will not be held responsible for losses arising from alterations which cannot be readily detected. This is not applicable to cheques cleared under other clearing arrangements such as MICR clearing, non-MICR clearing, over the counter collection for cash payment or direct collection of cheques outside the Clearing House arrangement.
All cheques must be written in dark colour non-erasable ink or ball-point pen and be signed in conformity with the specimen signature registered with the Bank; and iv The customer should comply with the conditions printed on the inside cover of cheque books. You must report any loss, theft or unauthorised use of a signed cheque or a cheque book to us either in writing or through PhoneBanking services as soon as reasonably practicable.
Accountholders should exercise care when drawing cheques and should not draw cheques by any means, which may enable a cheque to be altered in a manner, which is not readily detectable. You agree that we may record a cheque drawn by you in electronic or other form as we consider appropriate, and the cheque after payment may be retained by the collecting bank for a period specified in the rules relating to the operation of the clearing house and may be destroyed by the collecting bank after that period.
You authorise us to contract with collecting banks and other persons in relation to the arrangements and matters set out in paragraph i above. Return cheques - The Bank reserves the right to return cheques with insufficient funds in account, technical error or any other reasons as mentioned under the relevant statute or any other reasons and to impose a service charge with respect to returned cheques.
Cheque books will either be available at our branch counters or delivered directly to the customer, to the addresses registered with the Bank as per your instructions.
You should give us clear written instructions or other duly authenticated instructions the authenticity of which the Bank must be able to verify clearly identifying the cheque in question by reference to its cheque number, if you wish to stop payment of a cheque.
We have no obligation to act on your Instruction if we do not receive it in time to enable us to stop payment. You should clearly identify the cheque in your Instruction by quoting the cheque number. If you quote any other detail instead of the cheque number, we have no obligation to but may act on your Instruction at our discretion without being liable. If you quote any other detail in addition to the cheque number, we are not responsible for checking whether that detail conforms with the corresponding detail on the cheque in question.
We have no obligation to act on an Instruction to stop payment if we are unable to verify its authenticity, unless we have made any special arrangement with you. Notwithstanding that, we may act on an Instruction at our discretion if we believe in good faith that it is given or authorised by you without being liable in any circumstance and you will be bound by that Instruction even if it is incorrect, false or unclear or if it was not given or authorised by you.
You should confirm an Instruction as soon as reasonably practicable in a manner accepted by us. The customer should comply with the conditions printed on the inside cover of the cheque books. NRE accountholders should complete the declaration on the reverse of the cheque leaf as per RBI requirements. You must ensure and hereby undertake that all documents and items submitted under the drop box services are complete, accurate and duly signed where applicable.
You will utilise the drop box services in accordance with its governing terms and conditions and such other instructions, guidelines and directions that we shall issue from time-to-time.
The scope of the drop box services shall be as determined by the Bank from time-to-time and may include, but not necessarily and among other things, deposit of cheques, bills of exchange, warrants, payment warrants and other payment instruments. All high value cheques which exceed Rs. The service provider shall collect the items from the CDBs and hand over the same to the Bank. The cheque deposit timings at the respective branches are subject to change without prior notice.
All branches of the Bank which offer extended banking hours: Transactions as indicated by the Bank from time to time including transactions such as deposits, withdrawals, transfers, instrument purchases example those relating to cash, cheques, pay orders, demand drafts, telegraphic and other transfers, opening of accounts, changes to account title, mode of operation, mandate, replacement of ATM Cards , sought after the time on any other day when clearing, recording and processing of transactions in its books is affected by the Bank in the ordinary course of business, may, at the sole discretion of the Bank, be specified in any statement of account or other communication sent to the customer as having taken place on the next or any preceding business day for the Bank and not on the actual day of the transaction sought.
Instruments as indicated by the Bank from time to time example cheques, demand drafts, pay orders , deposited after the time of clearing on any other day for the day by the Bank in the ordinary course of business, shall be sent for clearing only on the next business day. The Aadhaar number provided for customers or for person s associated with their account will be authenticated by the Bank with the Unique Identification Authority of India UIDAI or such other authority as may be regulated from time to time for authentication through any of the modes of authentication as stipulated in the regulation.
The Aadhaar number will be updated for your Bank accounts post successful authentication. We reserve the right to close any account without assigning any reason by giving a prior notice of 30 days to you. The Bank reserves the right not to disclose account information to the customer over the telephone. Inoperative Unclaimed Accounts will be levied a charge as per the current Tariff. The accountholder can also log on to www. In case the accountholder feels that the service levels offered by HSBC are not upto the accountholder's expectations, the accountholder can refer to the HSBC Grievance Redressal mechanism for lodging a complaint.
The Grievance Redressal mechanism and a Grievance Redressal policy is available on www. The policy is based on principles of transparency and fairness in the treatment of customers, to compensate for direct financial loss, as detailed in this policy, that the customer may incur in cases where the bank does not meet the service levels committed by it. Customers are advised to make use of this facility in their own interest.
No person resident in India who has borrowed in Indian rupees shall use the said loan amount for any purpose except his own business other than the business of chit fund, or as Nidhi Company, or agricultural or plantation activities or real estate business; or construction of farm houses or Trading in Transferable Development Rights TDRs.
No person resident in India who has borrowed in Indian rupees shall use such borrowed funds for any investment, whether by way of capital or otherwise, in any company or partnership firm or proprietorship concern or any entity, whether incorporated or not, or for relending. Accounts upon which an attachment order or other legal notice prohibiting operations of the accounts has been received will be frozen ruled off and no further operation will be allowed till such time that the prohibition order is removed.
OnlineSBI provides several inbuilt features for safe and secure banking. You can use the security options in the profile tab to:. You can set your display name, mobile number and email ID in your personal profile. The display name is used in the Welcome message. You can define your own trusted third parties to whom you wish to transfer funds. You can also add, delete or modify your list of trusted third parties. You can set limits for demand draft and third party transfers, in the profile section.
It is advisable to set a lower limit. You can enhance the limit as and when required. SMS based high security is an additional layer of security provided for your transactions.
It is recommended that you enable this feature, in the profile section. Whenever you transfer funds to own or third party accounts, issue a demand draft or credit funds to a PPF account you will receive a high security password by SMS. You need to use this password to complete the transaction. Phishing Email and Fraudulent websites Phishing is a general term for e-mails, text messages and websites fabricated and sent by criminals and designed to look like they come from well-known and trusted businesses, financial institutions and government agencies in an attempt to collect personal, financial and sensitive information.
If you should ever receive an email that appears to be suspicious, do not reply to it or click on the link it provides. You can read more about Phishing here. Pop-ups are the advertisements that "pop up" in a separate browser window. When you click on some of these pop-ups, it's possible that you're also downloading "spyware" or "adware.
Vishing is the criminal practice of using social engineering and Voice over IP VoIP to gain access to private, personal and financial information from the public for the purpose of financial reward.
The term is a combination of "voice" and phishing. Smishing is a form of criminal activity using social engineering techniques similar to phishing. Smishing victims receive SMS messages. Known as "smishing," these text messages might ask a recipient to register for an online service -- then try to sneak a virus onto the users' device.
Unwanted Key-Logging software can record everything that is typed on a computer and send the information to an outside party. Key-Logging "Spyware" or "Adware" often infects a computer via a virus attached to an e-mail or other type of download. Safe Online Banking Login. Contact the organization by using a telephone number from a credible source such as a phone book or a bill.
Always look out for the padlock and the URL address as https: Avoid embedded links in an e-mail claiming to bring you to a secure site. Never disclose via text message any personal information, including account numbers, passwords, or any combination of sensitive information that could be used fraudulently. Use caution if you receive a text message expressing an urgent need for you to update your information, activate an account, or verify your identity by calling a phone number or submitting information on a web site.
These messages may be part of a phishing scam conducted by fraudsters to capture your confidential account information and commit fraud. Regularly update your computer protection with anti-virus software, spyware filters, e-mail filters and firewall programs.
Contact your Bank directly through official channels available to verify authenticity of those calls. Use a current web browser. Your online banking username or password should not be the same as other online accounts. Regularly check you bank, credit and debit card statements to ensure that all transactions are legitimate. Report It If you receive one of these suspicious e-mails: Step 2 - Contact your local police. Step 3 - Always report phishing.
Access to your accounts is controlled by your unique username and password. Your access is suspended after three invalid login attempts. We show you the date and time of your last login so you know that no one else has accessed your accounts. While you're banking online: We have bit SSL encryption to keep your information secure.