Terms & Conditions for Deutsche Bank Express Rewards


These Terms and Conditions (the "Terms") apply to the “Express Reward program” offered by Deutsche Bank AG and are in addition to and not in derogation of the terms and conditions applicable to the products/services mentioned herein (the "General Business Conditions") as available on www.deutschebank.co.in. To the extent of any inconsistency between these Terms and General Business Conditions, these Terms shall prevail. All capitalized terms used herein but not defined shall have the same meaning as specified under the General Business Conditions.

Definitions
In these Terms and Conditions the following words and phrases shall have the meaning set herein below, unless the context indicates otherwise, and as may be modified from time to time.

  • "Program" shall mean the Express Reward Program offered by Deutsche Bank AG.
  • "Express Rewards" shall mean the points awarded by Deutsche Bank under the Program.
  • "Effective Date" shall mean the date from which the Program commences.
  • "Eligible Transactions" shall include the transactions captured under Schedule A of these Terms and Conditions.
    • The Effective Date shall be 1st July 2013.
    • For the sake of these Terms, “Customer/s” shall include resident Indian individuals holding a Savings Account and non resident Indian individuals holding an NRO or both NRO & NRE Savings Account (Private Banking, Advantage Banking, Value Plus, SA Regular, Expat Savings, Easy Savings, Eve Account, Student Account, Payroll Account and Staff Account).
    • For all Savings accounts listed above but not limited to, only customers with Average Quarterly Balance (AQB) of Rs. 25,000 and above will be eligible for reward points. There is no minimum requirement of AQB in case of Deutsche Bank Staff accounts.
    • To be eligible for Express Rewards in any given calendar quarter, Customer/s should ensure they meet the AQB requirement (as defined in the above point) in the previous quarter. For example, customer/s will have to maintain an Average Quarterly Balance (AQB) of INR 25,000 and above in their Savings account during the period 1st April 2013 to 30th June 2013 to earn Express Rewards on eligible transactions done from 1st July to 30th Sept.
    • Eligibility to earn Express Rewards: For new to bank customers (non staff customers), the AQB requirement of INR 25,000 will be waived for a quarter excluding the quarter your account was opened.
    • Under the Program, Customer/s who undertakes Eligible Transactions after the Effective Date will earn Express Rewards in line with details given in Schedule A of these Terms and Conditions.
    • Express Rewards accumulated under this Program on transactions in a month shall be visible to the Customer by the 10th of the subsequent month.
    • The Express Rewards earned under this Program shall expire 12 months excluding the quarter in which the Express Rewards are earned by the Customer(s) (for example, points earned in February & March 2016 will remain valid till March 2017)
    • Each reward point can be redeemed for Re. 1 and the redemption proceeds shall be credited only to Customer’s valid Deutsche Bank account. For customers holding NRE and/or NRO account, INR credit for reward point’s redemption can be given only in NRO account. If customer holds only NRE account, he will need to open NRO account to receive reward point redemption. Request for redemption in any other manner would not be entertained.
    •  At any given point of time, customer/s needs to accumulate 400 reward points before requesting for redemption of reward points.
    • Customer/s can collect a maximum of ‘1250 Express Rewards’ each month which  will remain valid for period of 12 months excluding the earn quarter (for example, points earned in February & March 2016 will remain valid till March 2017).
    • Entire reward points earned at the time of redemption request would be redeemed and there will not be option for part redemption.
    • The customer/s need to call up 24/7 phone banking team; write to customer care from their registered email id and request for redemption.
    • The Bank Account of the Customer/s should be active at the time of giving credit for redemption amount. Redemption in any other form would not be allowed. Credit to account would happen within 4 working days of requesting for redemption.
    • The Program is complimentary and it is hereby understood that all transaction charges on Eligible Transactions on the basis of which the Reward Points are assigned to the Customer, are voluntarily incurred by a Customer in the normal course of their usage of Deutsche Bank products/services. Further, nothing contained herein shall prejudice or affect the terms and conditions governing the operation and use of such Deutsche Bank products/services.
    • The Bank reserves the right to add, alter, modify, change or vary all or any of these terms and conditions or to replace wholly or in part, the above reward structure or to withdraw it  altogether. Computation of the Reward Points by Deutsche Bank shall be final, conclusive and binding on the Customer/s and will not be liable to any dispute or questioning.
    • Deutsche Bank reserves the right to nullify the Reward Points earned under this Program.
    • In all matters relating to the conduct of this Program the decision of Deutsche Bank shall be final and binding in all respects.
    • The Customer/s cannot transfer, assign or bequeath Reward Points accumulated under this Program to any another person under any circumstances.
    • Deutsche Bank reserves the right to withdraw any Reward Points/s earned by Customer/s in case of default by the Customer/s on any relationship held by the Customer/s with Deutsche Bank.
    • Reward Points earned by a Customer under this Program shall be communicated to Customer/s through the account statements shared with Customer/s with respect to the Account. Customers may also view details of the Program our website www. deutschebank.co.in.
    • For the purpose of computation of Reward Points earned by Customer/s, only valid Eligible Transactions will be considered. Whether an Eligible Transaction is considered to be valid for the purpose of earning Reward Points shall be the sole discretion of Deutsche Bank. If the Customer/s reverses an Eligible Transaction/s on which Reward Points are earned, Reward Points earned for such reversed transactions shall also be reversed.
    • Nothing contained in this Reward Program shall be construed as a binding obligation upon Deutsche Bank to continue the Reward Program in the event of the termination of the Program or otherwise.
    • Any Government levies / taxes arising out of the credit of rewards will be borne by the account holders. All disputes, if any, arising out of or in connection with or as a result of above or otherwise relating hereto shall be subject to the exclusive jurisdiction of the competent courts / tribunals in Mumbai only, irrespective of whether courts / tribunals in other areas have concurrent or similar jurisdiction.

 

Schedule A: Eligible Transactions and Express Rewards


Parameters

Express  Rewards

How to earn Express Rewards

Monthly Salary Credit

10

Per Instance (once a month)

Utility Bill Payment

4

Per Instance with minimum bill amount of Rs. 200

db DirectDebit transaction

4

Per Instance with minimum transaction amount of Rs. 200. Express Rewards will be given on maximum 10 transactions per month

Deutsche Bank ATM transactions (Cash withdrawal  or Balance inquiry)

5

Per Instance.
Express Rewards will be given on maximum 10 transactions per month

Purchases done using Infinite Debit Card

2

Per Rs. 100

Purchases done using Signature Debit Card

1.5

Per Rs. 100

Purchases done using Platinum Debit Card

1

Per Rs. 100

Purchases done using Gold Debit Card

0.5

Per Rs. 100

Cheque book request through ATM /  db OnlineBanking / Phonebanking (IVR)

5

Per Instance

Auto Debit for Personal Loan EMIs

5

Per Instance

Auto Debit for Home Loan EMIs

5

Per Instance

Auto Debit for Recurring Deposit Instalments

5

Per Instance

SIP Enrolment

20

Per Instance for every new  SIP enrolment

Register for only email bank statement (paper statement suppression)

50

One time

Bonus Express Rewards

 

 

First Transaction on db OnlineBanking

Within one month of account opening^: 50

 

 

Onetime

 

Within two months of account opening^: 30

Within three months of account opening^: 20

 

 

Vintage Bonus*
(Banking relationship vintage will be calculated from the date of launch of the Express Rewards i.e. 1st July 2013)

Banking relationship > 3 years : 100

 

 

Applicable for all accounts where AQB charges have not been levied during said period
 

Banking relationship > 2 years : 75

Banking relationship > 1 year : 50

^period excludes the account opening month.
*Not applicable for Deutsche Bank employees.

Click here for general Terms and Conditions