We are delighted about your interest in inviting friends & family to use digibank by DBS! Due to Covid-19 and everyone’s safety in mind, we have temporarily delayed our fingerprint verification services for all new accounts in locations where are restrictions on movement. This will impact your ability to earn rewards. We will keep you posted as things change. Stay Safe!

 

Terms and Conditions

  • Program: digibank Savings account customers (“Customers”) can earn ₹250 for each eligible ‘Mobile Transfer’ to their friends and families (“Friend/s”) who do not bank with digibank and if their Friend/s open the digibank Savings account within 15 days of the ‘Mobile Transfer’ and spends minimum of ₹5,000 on physical debit card within 30 days of opening digibank Savings account.
  • All Friends of such Customers will be eligible for a cashback of ₹250 on opening of digibank Savings account within 15 days of the ‘Mobile transfer’ and transacting minimum of ₹5,000 or more with their physical digibank Debit Card within first 30 days of opening digibank Savings account.
  • Customers are also eligible for additional cashback as per one of the below two additional cashback slabs.
  • Program Period: Starts on 15thJuly 2021 and ends on 31st August 2021 (both days inclusive).
  • Program Eligibility: Only digibank Savings account customers are eligible for this Program.
 

Additional Cashback Slabs

Additional Cashback Slab 1

  • Customers can earn additional ₹750 (effective total of ₹1,000) for each eligible ‘Mobile Transfer’ to their Friends who do not bank with digibank and if their Friend/s open the digibank Savings account within 15 days of the ‘Mobile Transfer’ and spends minimum of ₹5,000 on their physical Debit Card and add ₹10,000 in their digibank Savings account within 30 days of opening digibank Savings account. Friend/s needs to additionally maintain a minimum balance of ₹10,000 or more for 30 days from funding their digibank Savings account - E.g. If your friend adds ₹20,000 on 01 Jul’21, then they need to keep at least ₹10,000 till 31 Jul’21 every day.

Additional Cashback Slab 2

  • Customers can earn additional ₹4,750 (effective total of ₹5,000) for each eligible ‘Mobile Transfer’ to their Friend/s who do not bank with digibank and if their Friend/s open the digibank Savings account within 15 days of the ‘Mobile Transfer’ and and spends minimum of ₹5,000 on their physical Debit Card and add ₹200,000 in their digibank Savings account within 30 days of opening digibank Savings account. Friend/s needs to additionally maintain a minimum balance of ₹200,000 or more for 30 days from funding their digibank Savings account - E.g. If your friend adds ₹250,000 on 01 Jul’21, then they need to keep at least ₹200,000 till 31 Jul’21 every day.
 

Other Terms and Conditions

  1. This Program is brough to you by DBS Bank India Limited "DBS”.
  2. Additional cashback slab 1 and 2 are applicable only for eligible digibank accounts opened following period – 15th July 2021 to 31st August 2021 (both days inclusive).
  3. "Eligible Mobile Transfer"means(a) fund transfer to a Friend/s by Customers using ‘Mobile Transfer’ option in digibank app i.e. using the steps – ‘INVITE & EARN’ > ‘ENTER MOBILE NUMBER’ > ‘FUND TRANSFER’ and (b) opening of digibank Savings account by the Friend/s within 15 days from date of ‘Mobile Transfer’ by clicking on the link sent via, a SMS during the Program Period.
  4. Cashback Program for Friend/s:
    • Friend/s need to open digibank Savings account within 15 days of receiving the mobile transfer funds and spend ₹5,000 or more using physical digibank debit card on POS/e-POS, in single or multiple transactions, within 30 days of opening the account, to avail the cashback offer.
    • Excluded Transactions for Friend/s ₹250 cashback: Debit Card transactions for funding prepaid payment instruments, funding a digibank (wallet or savings account) using digibank Debit card, cash withdrawals at ATMs or DBS Bank branches, void transactions, reversal or refund on POS or ePOS transactions, tax payments or mutual fund purchases will not be considered as a spend under this Program.
  5. Cashback Program for Customers:
    • For ₹250 cashback to Customers - Customers will be required to make a mobile transfer of ₹1 or more using "INVITE & EARN" option in the digibank app and then transfer using mobile number of a Friend/s during the Program Period. Customer’s Friend/s should have opened digibank Savings account within 15 days of Mobile Transfer and spend minimum of ₹5,000 using physical digibank debit card.
    • For ₹750 additional cashback to Customers - Customers will be required to make a mobile transfer of ₹1 or more using "INVITE & EARN" option in the digibank app and then transfer using mobile number of a Friend/s during the Program Period. Customer’s Friend/s should have opened digibank Savings account within 15 days of Mobile Transfer and then spend minimum of ₹5,000 using physical digibank debit card and adds ₹10,000 in their digibank Savings account within 30 days of opening digibank Savings account. Friend/s needs to additionally maintain a minimum balance of ₹10,000 or more for 30 days from funding the digibank Savings account. E.g. If your friend adds ₹20,000 on 01 Jul’21, then they need to keep at least ₹10,000 till 31 Jul’21 every day.
    • For ₹4,750 additional cashback to Customers - Customers will be required to make a mobile transfer of ₹1 or more using "INVITE & EARN" option in the digibank app and then transfer using mobile number of a Friend/s during the Program Period. Customer’s Friend/s should have opened digibank Savings account within 15 days of Mobile Transfer and then spend minimum of ₹5,000 using physical digibank debit card and adds ₹200,000 in their digibank Savings account within 30 days of opening digibank Savings account. Friend/s needs to additionally maintain a minimum balance of ₹200,000 or more for 30 days from funding the digibank Savings account. E.g. If your friend adds ₹250,000 on 01 Jul’21, then they need to keep at least ₹200,000 till 31 Jul’21 every day.
  6. If your Friend/s do not open digibank Savings account within 15 days, the money transfer initiated by the Customers will be reversed and funds will be credited to the Customer’s account. The amount held by DBS while processing Customer’s fund transfer request shall not earn any interest for these 15 days or intermediary period. If your Friend/s open the digibank Savings account after the end date of the Program Period, then neither you nor your Friend/s are eligible for the cashback.
  7. There is no limitation of number of Mobile Transfer, but the Customers are eligible for cashback only for 20 (twenty) eligible Mobile Transfer in calendar month, if all the criteria as captured above are fulfilled. DBS reserves the right to debit your account at its sole discretion in case credits/cashback posted in a Customer’s digibank Savings account exceed 20 (twenty) number of eligible Mobile Transfers per calendar month. The Customer authorizes DBS, it associates, subsidiaries and affiliates to contact him/her.
  8. The Customers declares that due consent has been obtained from the Friend/s, to provide his/her contact details to DBS to contact the Friend/s to offer its range of banking services and products. The Customers agrees and undertakes that she/he shall be responsible to DBS, it associates, subsidiaries and affiliates for any losses or claims that may be occasioned upon DBS, in the event that such declaration or undertaking is found to be untrue.
  9. As part of the Program, the Friend/s acknowledges, understands and agrees that when he receives the money transferred by the Customer, the Customer will know that the Friend/s has an account with DBS. If the Friend/s desires to avoid disclosing this personal information, the Friend/s may choose to apply independently and not respond to this Program. Likewise, by transferring funds to the Friend/s, the Customer acknowledges, understands and agrees that the Friend/s will know that the Customer stands a chance to get up to ₹5,000 for eligible Mobile Transfer. If the Customer does not desire to disclose this information, he/she should not participate in this Program.
  10. Friend/s should not be an existing digibank Savings account holder.
  11. If two different Customers register a same Friend/s, the one who sent the first Mobile Transfer to the same Friend/s, will be considered as an eligible Mobile Transfer.
  12. Opening of digibank Savings account is subject to internal policies of DBS.
  13. Cashback will be credited in the account of the eligible Customers and Friend/s within 90 working days from the date of completion of Program Period on a best effort basis.
  14. The terms and conditions of the digibank Savings account are applicable.
  15. Tax liability arising from the Program, if any, will be solely borne by the Customer/Friend/s. DBS will have the right to deduct TDS, if applicable, as per existing regulations.
  16. Participation in this Program may be subject to taxes, duties, levies, charges or other liabilities for the individual and Customers/Friend/s are responsible to pay the same. Before participating in this Program, Customer/Friend/s should seek the advice of an appropriate tax consultant to clarify the tax status.
  17. Account closed and opened under same Aadhaar and PAN will not be considered for additional payouts. Similarly, cashback will not be processed for digibank accounts which are closed or frozen on date of cashback processing.
  18. If DBS subsequently discovers that the Customers/ Friend/s is in fact not eligible to participate in this Program or any of the conditions herein is not fulfilled, DBS may at its discretion forfeit the cashback or reclaim it if already rewarded by debiting the account of the Customers and Friend/s. No person shall be entitled to any payment or compensation from DBS should DBS exercise its discretion to forfeit or reclaim any reward.
  19. If cashback is unavailable at any point of time, DBS reserves the right to substitute a similar reward of equivalent or similar value without prior notice to the Customers/ Friend/s.
  20. The participation in the Program is voluntary and by participating in the Program, you are deemed to have read, understood and accepted these Terms and Conditions.
  21. Customer and Friend/s will not be eligible for cash back, if the Friend/s changes the mobile number within 30 days of successful Aadhaar authentication.
  22. In the event of any inconsistency between the Terms & Conditions and any advertising, promotional publicity and other materials relating to or in connection with this Program, these Terms and Conditions shall prevail.
  23. You consent to our collection and use of your personal data and the use and disclosure of your personal data by/to third parties for the purpose of the Program. You agree to the terms of the DBS Privacy Policy, a copy which can be found at https://www.dbs.com/digibank/in/privacy-policy.page
  24. DBS reserves the right to and may, at any time, without previous notice and from time to time, modify/withdraw/suspend this Program, with or without any reason.
  25. This Program will be governed by the laws of India and subject to courts in Mumbai.
  26. Customers can email us their concerns with regard to the Program at customercareindia@dbs.com
  27. Incomplete / rejected / invalid / returned / disputed or unauthorized / fraudulent transactions will not be considered for the Program.
  28. In case of all matters relating to the Program including any dispute or discrepancy relating to the Program or eligibility of any customer, DBS decision shall be final and binding on Customers in all respects.