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KEXIM Bank dates back to 1955 when KEXIM North Central of the UK was active in taking deposits through a number of agents. This activity was formalized in 1969 when KEXIM Bank Limited was registered as a wholly-owned subsidiary of KEXIM North Central plc - a member of the Natwest Bank Group.


  Terms And Conditions  


These terms and conditions apply to and regulate the operation of the Savings Account (the "Account") offered by KEXIM Bank. These terms and conditions shall be in addition to any other terms as stipulated by KEXIM Bank from time to time.

Definitions
In these terms and conditions, the following words and phrases have the meaning stated hereunder unless indicated otherwise:
1.1 "Account Opening Form" (AOF) refers to the relationship form for Savings Account.
1.2 "Customer" refers to any person holding an Account with KEXIM Bank.
1.3 "Quarter" shall mean a financial quarter i.e. April - June, July - September, October - December, January - March in any financial year.
1.4 "Services" shall mean the services provided by KEXIM Bank in connection with the Saving Account and more particularly described in these Terms.
1.5 "Website" refers to the website owned, established and maintained by KEXIM Bank at the URL www.KEXIMbank.com
1.6 "KEXIM Bank 24-Hour Customer Care Centre" refers to KEXIM Bank - Phone Banking Service provided by KEXIM Bank to the Customer.

Interpretation
a. All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
b. Words importing any gender include the other gender.
c. Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
d. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.

2. Applicability of Terms These terms and conditions form the contract between the Customer and KEXIM Bank. The Customer shall apply to KEXIM Bank in the prescribed form for operation of the Account and availing of the related Services. By applying for opening the Account, the Customer acknowledges that he / she has /have read understood and accepted these terms and conditions.

3. Account Opening: The account opening formalities are governed by the policies of KEXIM Bank and may be revised from time to time. It may require customer/s to submit duly filled application form/s along with the prescribed set of documents stipulated including Permanent Account No. (PAN) or Form 60/61 from time to time, to the satisfaction of the Bank. The Account cannot be opened for business purposes. In case the Account is opened with an account opening cheque, KEXIM Bank reserves the right not to open/activate the Account in the event the account opening cheque is dishonored. Any transactions undertaken from this account, shall be in compliance of all the FEMA rules, regulations or notifications thereunder

4. Operating Accounts:
4.1An Account may be opened in the names of:
(i) An individual in his/her own name.
(ii) Two or more persons in their joint names.
4.2 All the Accounts maintained in the name of an individual shall be operated singly by the individual or the Power of Attorney holder of such individual and in the case of joint accounts, by the account holders jointly, or by either of the joint-holder/s or as may be specified by the joint account holder/s in the opening form, or by their Power of Attorney holders and accepted by KEXIM Bank in its discretion.
4.3 In case of joint Accounts, any change in operational instructions or any other information with regard to the Account Opening Form is to be given by all the joint account holders irrespective of the mode of operation.
4.4 KEXIM Bank may send through courier or post from time to time to the mailing address furnished by the Customer, statements of account, balance confirmation certificate, cheque books, Debit cards, various PIN mailers and such other items relevant or pertaining to the Account. It is incumbent upon the Customer to intimate change in mailing address, if any, immediately. KEXIM Bank shall not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of non-intimation of change in mailing address.
4.5 The Customer is / are expected to examine the entries in the Account statement on receipt, and draw the attention of KEXIM Bank to any errors or omissions that might be discovered. KEXIM Bank does not accept any responsibility for any loss arising out of failure on the part of the Customer to carry out examination of entries in the passbook/statement and to point out such error and/or omission within fourteen (14) days from the date of the statement/ updation of passbook.
4.6 The Customer shall open the Account with a minimum balance as prescribed by KEXIM Bank. The Customer shall be responsible for maintaining a minimum average balance ("QAB") during a Quarter. Failure to maintain the prescribed QAB may attract service charges and such charges may be deducted by KEXIM Bank from the Customer's Account.
4.7 The Customers are expected to provide PAN No. or Form 60/61 or any other document as may be prescribed by tax authorities from time to time for opening the Account, acceptance of cash deposits etc. in accordance with the provisions of Rule 114B to 114D of the Income Tax Rules, 1962 and compliance thereof.


5.Cheque Book
5.1 Cheque books will be couriered directly to the mailing address given by the Customer provided all formalities are completed. Subsequent cheque books can be requisitioned through the requisition leaf available in the cheque book or through ATMs subject to satisfactory conduct of the Account. Cheque books are normally issued free of cost, however, KEXIM Bank reserves the right to recover the cost of the cheque book requisitioned.
5.2 Alterations, if any, on cheques are required to be authenticated by the drawer's signature against each such alteration. KEXIM Bank reserves the right to refuse payment of cheques that have been altered in any way unless the alteration is authenticated by the drawer under full signature as per specimen on record with KEXIM Bank. Cheques should be drawn in such a way as to prevent alteration after issue and the drawer's signature should be uniform with that on record.
5.3 KEXIM Bank will record and accept instructions from the drawer for stopping payment requests against cheque/s that are lost, stolen, or not required to be paid against, only if such instructions are received from the drawer by the Bank, prior to presentment of such cheques at the Bank or in the case of e-cheques, only if the stop payment requests are logged prior to payment of moneys against the same, and KEXIM Bank shall not be responsible in any manner whatsoever for any losses caused, or payments made, if the cheques are presented for payment to KEXIM Bank prior to receipt of instructions, if any, from the drawer of the cheque/s or in the case of e-cheques, if the stop payment requests are logged after payment against such cheques has been initiated by KEXIM Bank. KEXIM Bank may charge Service charge for such countermanding instructions.
5.4 KEXIM Bank may dishonour and/or return cheques unpaid which are altered, if considered by the Bank to be ambiguous or suspicious in any way, or if received for payment more than six months after the date the cheque is drawn.
5.5 Customer should issue cheques in the account only after making prior arrangement of funds in the account to avoid returns/dishonour. If a cheque issued by a Customer is required to be returned for insufficient balance in the Account or for being in excess of arrangements, a penalty/charge may be levied by KEXIM Bank. If any cheque deposited by the Customer is returned unpaid, service charge may be recovered from the Customer. In case of large number of returns/dishonours in the account, the Bank reserves the right to take corrective action for the specific accounts as deemed fit.

6.Demand Drafts / Pay Orders: The Customer may place a request for issue of demand drafts / pay orders (the "Instrument") by visiting KEXIM Bank branch or through KEXIM Bank 24-Hour Customer Care Centre or through such other mode and subject to such terms and conditions as KEXIM Bank may intimate from time to time. In the event the Customer places a request through KEXIM Bank 24-Hour Customer Care Centre, of such amount as may be intimated by KEXIM Bank, he may thereafter collect the same from any Instrument issuing KEXIM Bank branch chosen by the Customer on the same day of placing such request within such time as may be intimated to the Customer, failing which the Instrument will be sent to the communication address of the Customer last recorded in KEXIM Bank's records. In such an event, KEXIM Bank shall be at a liberty to recover charges for such posting. KEXIM Bank shall not be responsible on account of non-delivery or delays in delivery or non-receipt of the Instrument. KEXIM Bank reserves the right to discontinue the Service at any time without prior notice to the Customer. KEXIM Bank shall have the right to reject the request in the event of insufficient balance at any point of time from acceptance of request till dispatch of the Instrument to the Customer. KEXIM Bank shall be entitled, at its sole discretion to accept or reject such requests. The provision of such Service shall be subject to such charges as may be applicable and the Customer authorises KEXIM Bank to recover such charges by debiting the Account. The Customer may request for cancellation of the Instrument in the event the request for issue of the Instrumentis placed through KEXIM Bank 24-Hour Customer Care Centre, provided such request for cancellation is placed while the Instrument is still within the possession of KEXIM Bank. If the Instrument is lost or has to be cancelled once the same is with the Customer or his agent, the request for cancellation shall be accepted at the Instrument issuing KEXIM Bank branch.

Safe Keep of Debit Card, Passwords and Cheque Book:
The Customer shall be solely responsible for the safe-keeping and the confidentiality of the statements of account, balance confirmation certificate, cheque books, Debit card and its PIN, user id and passwords relating to internet banking and such other items relevant or pertaining to the Account.

Conduct of Account:
8.1 A Customer may request for transfer of his/her Account from one branch to another branch of KEXIM Bank by giving a written request along with, surrender of the ATM/Debit card, unused cheque books. KEXIM Bank will close the Account and arrange to open a new Account at the other branch and will issue new cheque book, new ATM/debit card, etc.
8.2 Transactions are entertained normally during banking hours at the branch where the Account is maintained or at any other KEXIM Bank Branches under Any Where Banking (AWB). KEXIM Bank shall not be liable for any delay on any account of failure of connectivity. AWB will not be available on the day(s) when the branch where the account holder has his/her Relationship, is closed.
8.3 Standing instructions are accepted free of charge for transferring funds from Savings account to Fixed deposit or Recurring deposit accounts. Other standing instructions are subject to service charges.
8.4 KEXIM Bank in its sole discretion may restrict the n umber of withdrawals in the Account.


 
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