1. The Customer Referral Program (“Program”), is open to existing customers except Non-resident customers (“Customer”) who have a banking relationship with Standard Chartered Bank (“Bank”). Under this program, the Customer can refer any person except any person not resident in India who wishes to avail of a Personal Loan/Mortgage Loan from Standard Chartered Bank. Employees of the Bank and its subsidiaries will not be eligible to refer under the Program.
The Customer who refers a prospective customer/s to the Bank is hereinafter referred to as “Referrer”.
2. “Program Period” - The Program is valid for all referrals received till 31st December 2016.
3. Under the Program, the Referrer will be entitled for a payout (“Reward”) (basis the slabs mentioned below) for each successful disbursal of a referred Mortgage/Personal Loan. Non KYC (Know Your Customer) compliant Customers will be eligible for Reward only after KYC details are updated with the Bank.
|Home Loan amount your friend applies for (INR)||Personal Loan amount your friend applies for (INR)||You Earn
|More than 8 Crores||1,00,000|
|50 Lakhs - 1 Crore||More than 20 Lakhs||25,000|
|10 Lakhs - 50 Lakhs||10 – 20 Lakhs||10,000|
|-||5 – 10 lakhs||5,000|
|-||1 - 5 Lakhs||2,500|
4. Referrer who qualifies as “Non-Resident” would not be eligible to receive any Reward under this Program.
5. The Personal Loan/Mortgage Loan must be disbursed within six (6) months of the referral, for the Referrer to be eligible for the Reward.
6. In case of successful disbursal for under construction mortgage loans, full loan amount will beconsidered for Reward calculation and the Reward will be creditedafter disbursal of first tranche of the loan to the to the borrower. For all other loans, the Bank will calculate theReward based upon the amount of actual disbursals done and the Reward will be credited within three (3) months of disbursal of loan to the borrower.
7. If more than one “Referrer” recommends the same prospective customer, the first one to make the referral will be entitled to the Reward. In the event of a dispute, the decision of the Bank shall be final and binding on the Referrer.
8. The Referrer understands that the Bank may contact the person/s referred to offer its range of banking products and services. At the time of making a referral under the Program, the Referrerwill have to specifically declare that the consent, to refer and share his/her/their contact details to the Bank, has been obtained from the person so referredfor the purpose of availing the Bank’s products and services. The Referrer agrees and undertakes that he/she shall be responsible to the Bank for any losses or claims that may be occasioned upon the Bank, in the event that such declaration or undertaking is found to be false or incorrect. The Referrerundertakes that he/she shall not refer person/s who are not known to him/her.
9. The Referrer understands and agrees that the Bank might contact the Referrer for any communication with regard to the Program. This will over ride any Do Not Disturb (DND) registry or National Customer Preference Register (NCPR) that the Referrer may be a part of.
10. The Customer may choose to refer friends using social media modes such as FaceBook, Linkedin, Twitter or Email. In all these modes of referrals, a unique [•] (“url”) would be generated which will be specific to the Referrer. For every successful referral obtained through the url, the Customer would be eligible for the Rewards as specified under the Program. For ensuring that the Rewards are paid out to the Customer, it is essential that the url generated is not altered in any manner.If the Customer or the person referred alters the url, the Bank would not be able to authenticate the Referral, as being unique to the Customer, and hence Referralwill not receive any Reward. For any Reward to be made to the Referrer, it is mandatory that:
10. All loans are at the sole discretion of the Bank. The Bank reserves the right to ask for anyadditional documents from the applicant / borrower.
11. The Bank reserves the right, at any time, with notice toadd / alter / modify / change or vary or to replace, wholly or in part, any of the terms and conditions of this Program without prior notice and the same shall be binding on the Referrer at all times.
12. Applications already under process with the Bank will not be eligible for any benefits/Rewards under this Program. No payout shall be due on such referrals.
13. On a successful referral, if the Referrer is a Standard Chartered Savings account customer, the Reward will be credited into his savings account with Standard Chartered Bank. All other Referrers who do not have a savings account with Standard Chartered Bank, would be required to provide their savings bank account details with other banks for the Reward to be credited. No cheque would be issued by the Bank for crediting the Reward. The Referrer shall be responsible for the accuracy of the information provided to the Bank.
14. The Referrer would need to provide his “acceptance” of the Reward within 2 months of the Bank informing him about his successful referral.
15. Any tax (Service tax and corporate income tax) implications arising out of or on receipt of the payout should be borne by the Referrer. The Rewardcredits are subject to Income Tax, Service Tax and other laws and regulations applicable at the time of calculation and making of the payments.
16. The Bank will not be liable to pay and will not process any payouts without the required PAN card details.Provision of PAN card details is mandatory and the Rewardis subject to the same.
17. Notwithstanding anything contained herein, the Bank reserves the right to modify, withdraw or cancel the Program, at any time at its absolute discretion without prior notice or without having to give areason thereof and without compensation whatsoever.
18. Further, the Bank reserves the right to reject any claim in the event of irregularity, discrepancy, or dispute and that its decision shall be final, conclusive and binding.
19. All Rewards and payments are subject to the completeness and authenticity of information provided in the Referral Form by the Referrer.
20. Personal Loans/Mortgages are offered at Mumbai, Delhi, Chennai, Bangalore, Kolkata, Pune, Ahmedabad, Baroda, Surat, Cochin, Coimbatore, Hyderabad, Chandigarh, Jaipur, Nagpur andIndoreonly. In case of a Loan against Property, only individuals can be referred. Personal Loans/Mortgage Loans will be offered from the aforesaid locations only.
21. No artificial splicing of amounts is allowed. In case it is discovered that a Referrer is indulging in any such practice, the Bank reserves the right to withhold the Reward and bar the Referrer from the Program.
22. In case it is discovered at a later stage that the Referrer has violated any of these terms and conditions or in case it is discovered that the Referrer has engaged in an illegal, wrongful act under the local laws, regulations, for generating successful disbursal, then the Bank shall be at liberty to initiate such action as it may deem fit.
23. These terms and conditions shall be governed by the Indian Law. Any and all disputes relating to the Program and its terms and conditions shall be subject to the exclusive jurisdiction of courts located at Mumbai.
24. By participating in this Program, the Referrer represents that he/she is authorized and competent to engage in referring person/s to the Bank for availing Bank’s products and services.
25. Customers participating in this Program shall be deemed to have read, understood and accepted these terms and conditions.
26. The Referrer will not be eligible for Reward if it is found that he/she has referred himself/herself under this Program.
27. Referrers who are not KYC compliant and whose relationship details do not match are expected to share revised details with the Bank. In case the same is not done, Standard Chartered Bank will continue to contact referee.