(Clauses in brackets correspond to Clauses in "Cardholder Agreement")

A. Fees and Charges (clause 2.04)

i) Joining fees for primary card holder and for add-on card holder

ii) Annual membership fees for primary and add-on card holder

At present the Bank does not charge any entrance fee. However the Cards may or may not have a membership fee. Please see the membership fee chart attached hereto. The membership fee will be levied annually till the Card is cancelled or closed on behalf of the Bank. Add-On Cards are also subject to membership fees, as per schedule, subject to revision from time to time.

iii) Cash advance fee (Clause 4)

At present the Bank charges a cash advance fee on amounts withdrawn. Cash advance charges are also payable by the cardholder in case the cash is withdrawn through an ATM belonging to the Bank or any other Bank. Cash advance charges are payable in addition to Currency Conversion charges

Apart from Cash advance Commission, interest will be charged on the amount of cash advance at the rate of 1.7% per month (Annualized Percentage rate at 22.45%) will be levied from the date of withdrawal till payment in case of revolving credit facility opted by the Cardholder.

Cash advance charges are given in detail in the schedule of charges attached hereto.

iv) Service charges levied for certain transactions (Clause 3.01)

Some transactions attract service charges on amount of transactions. Examples are when the Card is used for filling petrol/fuel at petrol pumps, booking Railway tickets etc., these are detailed in the schedule of charges attached hereto.

v) Interest free (grace) period - illustrated with examples

Use under the Credit Card allows a free Credit Period of 21 to 51 days depending upon the date of purchase and the date of billing. If the transaction happens to be a day after the billing date then this transaction will be billed in the next billing cycle. In such cases a maximum interest free credit period of about 51 days will be available. However if the purchase is done a day or two prior to the billing date then that transactions will appear in that very billing in which case only a free credit period of about 21 days will be available. Thus on an average an interest free credit period of 35-37 days will be available depending on the date of purchase.

Please however note that this interest free credit period will be applicable only if the "Total payment amount due" on the Card stands paid in full by due date. However if only the "minimum payment due" or an amount less than the "total payment due" is paid then the interest free credit period will not be available and applicable service/finance charges will be levied.

Illustration :

Assume the Billing date is 15/11/2005 and the due date for payment will be 21 days after the billing date i.e. on 05/12/2005
All purchases done between 15/10/2005 and 15/11/2005 will be included in the bill.

If the Cardholder had used his Card on 15/10/2005 or 16/10/2005 the Cardholder will get a free credit period of 51 days as under

Purchase date 15/10/2005

Number of days from 15/10/2005 till 14/11/2005: 30 days
Number of days from 15/11/2005 till 05/12/2005(due date): 21 days
Total: 51 days

This illustration may suitably be interpreted for various days

vi) Finance charges for both revolving credit and cash advances
(Clauses 6 to 6.15)

A credit card statement will be issued every month showing all purchases done during the billing period. The Credit Card statement will inter alia show the "Total payment due", "minimum payment due", "due date" etc. In case the Cardholder has opted for the revolving Credit facility he will have the option of paying the "Total amount due" or "the minimum amount due". In case the Cardholder chooses to pay the Minimum Payment due the balance remaining will be carried forward and a service charge at the rate of 1.70% per month(Annualized Percentage Rate at 22.45%) will be charged on such outstanding amounts.

vii) Overdue interest charges-to be given on monthly and annualized basis

If the Cardholder does not pay the total payment due or the minimum amount due on due date then service charges at the rate of 2.50% (annualized percentage rate 34.50%) will be levied

viii) Charges in case of default -detailed in para vii above

B. Drawal limits
i) Credit limit (Clause 1.20,2.11)

The Bank assigns credit limit, referred as spending limit to the Cardholder taking into consideration his income and/or his relationship with the Bank. Spending limit so assigned by the Bank shall be revised at the request of the Cardholder but at the sole discretion of the Bank.

ii) Available credit limit (Clause 1.02)
Whenever the cardholder uses his Card for purchasing goods and services or for withdrawing Cash his spending credit limit) is reduced by the amount so spent. Any service charge/interest /fees/taxes charged to the Card account will also be reduced from the spending limit. Authorizations obtained by the merchant on the Card at the time of purchase of any goods and services also will be reduced. Spending limit available after reduction on account of all the charges as said above is the available credit limit for further use of the cardholder.

iii) Cash withdrawal limit (Clause 1.09)
Cardholders are allowed to withdraw cash from Bank's branches or from ATMs using their Credit Cards whenever they wish to do so. A certain limit out of the spending limit is earmarked for the purpose. This limit so specified against each Credit Card is the Cash limit which is presently 50% of spending limit, subject to per day ceiling of Rs.15,000/-. Cash limit operates within the overall spending limit Cash cannot be withdrawn in excess of the cash limit prescribed.


C. Billing
i) Billing statements-periodicity and mode of sending (Clause 1.21,6,6.06)

Billing statement termed Credit Card Statement will be sent to the Cardholder on a monthly basis. The Credit Card Statement will be dispatched to the Cardholder by Post by ordinary mail to the address specified by the Cardholder.

ii) Minimum amount payable

Cardholders can choose to pay the amount of the bill in full or they can choose to pay through revolving credit. In the case the Cardholder has elected to pay the bill in full he must settle his bill in full. Cardholder who chooses to avail revolving credit has the option to pay the bill in full or in installments. Monthly cardholder statement shows the "Total Amount Due" and "Minimum Amount Due". In case the Cardholder wants to pay in installments he must pay at least the" Minimum amount due" shown in the monthly cardholder statement.

iii) Method of payment (Clause 6.07)

Cardholder can pay the amount of the bill by way of a cheque or demand draft drawn in favour of the Bank or by Cash. In case the bills are to be paid by way of cheque or demand draft the instrument must be drawn favouring "Bank of India A/c Card Number(16 digits).The Cardholder can pay the amount of bill either to the card Products department or at any of the branch of the Bank. The cardholder can also drop his bill in the drop boxes provided at various locations. The cardholder can also opt for payment to be made from his charge account with any of the Bank's branches on due date.

iv) Billing disputes resolution (Clause 3.09.6.11)

Upon receipt of the Credit Card statement if the cardholder notice any discrepancies he may approach the Bank for resolving his disputes. His complaints will be attended to without fail according to the laid down procedures of VISA/MasterCard dispute resolution rules.

v) Contact particulars of help lines of card issuer

Credit Cards:

Helpline: (24X7) 022 4042 6006
General enquiries and complaints: 022-22682040/ 22682031/22682036
(Between 10 am and 5 pm)

Reporting loss of credit cards

All India Toll-free (24x7)
tel. no -1800 22 00 88 (available from MTNL/VSNL lines)
Alternate No.022 40426004/022-40426005/022-40426006

vi) Grievances redressal escalation-contact particulars of officers to be contacted in case of inadequate response from above

The Assistant General Manager
Bank of India
Card Products Department,
4 th Floor, Bank ofindia,
70/80 MG Road,Fort,
Mumbai-400 001.
E-mail: Card4u.Cpd@bankofindia.co.in
Telephone :022 22682032
Fax No.022 22682042/22682043

vii) Complete postal address of card issuing bank

Bank of India
Card Products Department,
4 th Floor, Bank ofindia,
70/80 MG Road,Fort,
Mumbai-400 001.

D. Default and circumstances

i) Procedure including notice period for reporting a card holder as defaulter

Card accounts are monitored continuously and are identified on the basis of age of overdue amounts and recovery reminders are sent to the Cardholders, duly escalated as per age of the overdue amounts and response of the cardholder. In case the cardholder makes part payment of the bill amount another reminder is sent. Where the cardholder is an employee of a reputed organization a letter is sent to the employer as well. Upon persistent delinquency of the cardholder, the card is put in the warning bulletin thus preventing further use. Details of the card are also placed in the inter-bank negative list so that other card issuing banks are put to alert about the defaulter. The card accounts are handed over to approved Recovery Agents for further follow-up and recovery. The Cardholder details will then be posted in the negative lists like Satyam or CIBIL or such other agency for which the cardholder has already consented to at the time of signing the application form

ii) Procedure for withdrawal of default report and the period within which would be withdrawn after settlement of dues

If the Cardholder pays off all his dues to the entire satisfaction of the Bank then his name will be withdrawn from the Satyam Database within 30 days of his notifying the HO CPD and receipt of payment by the Bank and similar steps as appropriate will be done with other agencies also.

iii) Recovery procedure in case of default (Clause 12.1,12.2,12.3,12.6)

Defaulter cardholders are intimated about their defaults and if even after considerable lapse of time the amounts are not paid, the cases are handed over to approved recovery agents to contact the cardholder and follow up for recovering the amount. If the matter still remains to be settled legal action is initiated. All avenues for recovery such as compromise settlements will be open to the cardholder for making repayments.

iv) Recovery of dues in case of death / permanent in capacitance of cardholder Clause11.03, 11.04)

Recovery of dues in case of a deceased or permanently incapacitated cardholder will be made from the estate/legal heirs of such Cardholder by legal procedures. At present the Bank does not have any credit shield/insurance arrangement. In the case of cardholder's death due to accidents his legal heirs can claim accident insurance cover from the insurance company, which will be first appropriated to outstanding balance in the deceased cardholder's card account and balance if any, shall be passed on to the claimants.

v) Available insurance cover for card holder and date of activation of policy

At present there is no insurance cover for Cardholder overdue amounts. Incase the Bank goes in for insurance cover for overdue amounts the same will be notified to all Cardholders.

E. Termination / revocation of card membership (Clause 2.03,2.08,, 9.01,9.02,9.03,9.04,9.05)
i) Procedure for surrender of card by card holder - due notice

a. At Cardholder's instance:

The Cardholder may at any time by notice terminate the use of the Card (without affecting his or her liability in respect of the use of the Card prior to termination) by surrendering his or her Card to the Bank. A cardholder who wishes to surrender his Card at any time must inform the Bank in writing of his intention of cancellation of the Card to the Card Products Department, Head Office or to the branch that has issued the Card. He must cut the Card into four pieces and send the same along with his letter. The Cardholder will however will be liable to all charges incurred on the Card till the Bank cancels it. In the case of Card usage in a Card absent environment such as Intrernet/ MailOrder/Telephone Order transactions the Cardholder continues to be liable for all transactions done using his Card number and the Cardholder is required to rescind all standing instructions he had given for using his Card at all such merchants (specific example: mobile/telephone companies)

b. At the instance of the Bank (6.02,6.04,9.01.9.02)

The Bank may cancel the Card at any time without notice or refuse to re-issue, renew or replace any Card. Unless and until such termination occur the Bank will re-issue the Card from time to time for use in accordance with the agreement. Membership fee will not be refunded on surrender/cancellation of Card. The Bank has the right to withdraw the privileges attached to the Card and/or has the right to call upon the Cardholder to surrender the Card and/or to pick it up through the Bank's representative and/or through the Merchant Establishments or their representative without assigning any reason whatsoever. Use of the Card after notice of withdrawal of privileges is fraudulent and subjects the Cardholder to legal proceedings.

(F)Loss/ theft/ misuse of card (Clause 7,7.01,7.02,7.03,7.04,7.05,7.06,7.07)
i) Procedure to be followed in case of loss/ theft/ misuse of card-mode of intimation to card issuer

The Cardholder is responsible for the security of the Card and shall take all steps towards ensuring that the Card is not misplaced/misused.
In the event of the loss or theft of the Card, the Cardholder must immediately notify the Bank on helpline or toll free telephone and lodge an FIR with the Police. This must be confirmed in writing within seven days along with a copy of First Information Report lodged with the police. A replacement Card will normally be issued at the Bank's discretion, for a replacement fee to be decided by the Bank.

ii) Liability of card holder in case of (i) above

The Cardholder will be fully liable for all the Charges on the lost Card. The Cardholder shall be liable for all transactions on the Card up to the time of reporting of the loss/theft/damage In the event the loss/theft of Card is not reported in writing as above to the Bank, the Cardholder shall be liable for all the charges transactions on the lost/stolen Card and the Cardholder indemnifies the Bank fully against any liability (civil or criminal), loss, cost, expenses or damages that may arise due to loss or misuse of the Card. In the event the transactions are received by the Bank after the Card has been reported lost or stolen but before the receipt of the Cardholder's written confirmation as above, the Cardholder shall continue to be fully liable for all amounts debited to the Card Account. If the Cardholder is able to prove to the satisfaction of the Bank that the Card was safeguarded, the loss/theft was promptly reported by the Cardholder in writing to the Bank and in general the Cardholder acted in good faith and with reasonable care and diligence, then in such an event the Bank may in its sole discretion limit the Cardholders liability from the time of reporting of loss to Bank to Rs. 1000/-.


G. Disclosure (Clauses 12.03,12.04,12.06,12.07
i) Type of information relating to card holder to be disclosed with and without approval of card holder

The cardholder has agreed to disclosure of his personal details/ dealings on the Card/conduct of his account etc. at the time of applying for the Card by signing the requisite declaration. Cardholder is requested to read the clause herein mentioned for details of disclosure to third parties.