RupeeZen > ZenPro Terms of Use

Terms of Use - ZenPro (Coming Soon)

I/We, am/are aware of the following:

These conditions as stipulated hereunder are in addition to the conditions and not in derogation to the conditions that are displayed on the website of Equitas Small Finance Bank Limited (hereinafter referred as Bank) Governing Savings Accounts.

Opening this Savings Bank account online through Bank’s digital platform has no manual intervention or role of Bank.

The initial payment for the account shall be remitted only from a full KYC complied account.

Except for the address for communication, I/ we will not be able to modify or alter any other details drawn from UIDAI data base.

I/We are aware that we shall not be offered or eligible to obtain cheque book (will be provided under reasonable circumstances) and physical Debit Card etc., in the event of I/We choosing to avail the savings account opening facility offered under ZenPro account

I am/ we are aware that within 72 hours of account opening, the permitted per day debit transaction (Fund Transfer) limit will be a maximum of Rs.2000/- (with a maximum transaction count of 5 per day). Post 72 hours, the permitted per day debit transaction (Fund Transfer) limit is a maximum of Rs.5000/- (with a maximum transaction count of 10 per day). Further, the permissible monthly transaction limit will be a maximum of Rs.20000.

The identity proof of the account opening is my/ our Aadhaar Card.

I/ we agree and hereby authorise Equitas Small Finance Bank Limited to fetch my/ our personal details using OTP. Aadhaar E-KYC which will be used for KYC purposes. My/ our personal details are being drawn from the database maintained by UIDAI based on the Aadhaar number provided by me/us. Bank is not responsible for any incorrect information that may appear in the data provided by me/ us.

The opening of the account will be confirmed only after I/ we enter the OTP number received in my/ our mobile number linked to and available in Aadhaar database.

As the details are drawn from UIDAI data base, it cannot be modified or altered by me/us.

I/ we are solely responsible for the data provided and made available for opening the account.

I/ we hereby authorise the Bank to verify my/ our PAN online through the website of the Income Tax Department.

Tin the event of the data provided by me/us is lost or get distorted during transmission and I/ we shall not make the Bank liable or responsible for the same.

In the event of any any technical fault or error occurred during the opening of the account, due to the reason of account opening process through digital platform, it shall it shall be beyond the control of the Bank and Bank under no circumstances shall be held liable or responsible for any loss caused in this regard.

In an event of mismatch in Aadhaar Details and PAN, I/ we acknowledge that Bank has the right to reject my/our application and refund my/ our amount. If applicable.

I/ we are required mandatorily for personal verification of the details, made available by me/ us digitally, in person by scheduling a KYC verification visit at my / our current address or by approaching your branch, within 12 months from the date of opening of the account. If the KYC documents as specified by the Bank, is not furnished within 12 months, the account shall be closed by Bank immediately with/ without any reference to me/ us.

Till such time, I/ we present the personal details for verification, there shall be restrictions on credits and debits in the account as per the guidelines issued by the RBI, which, as on date, restricts me/ us from holding aggregate credit balance of more than Rs.1 lakh in all the accounts held with Bank and cumulative credit transaction carried out by me/ us would not exceed Rs.2 lakhs in a financial year. The account would be totally frozen until 12 months from date of account opening in case of breach of limits specified by RBI. The account could be operated only when the KYC documents as specified by Bank is furnished.

I/ we are also aware that if the verification has not been done by me/ us even beyond the 12 months period, Bank reserves the right to close my/our account without any initmation to me/ us and I/ we will have to visit the branch for withdrawing the funds by providing valid documents as specified by Bank. I/ we shall not have any claim or dispute with Bank for any loss that may result to me/ us in this regard as it is solely attributable to me/ us.

Till I/ we present the KYC details in person by scheduling a KYC verification visit at my / our current address or to your branch for verification, I/ we are not allowed to carry out any transactions at the branch, further, I/ we are not entitled to cheque, cash, NEFT, RTGS and IMPS transactions through branch. However I/ we are permitted to carry out online/ digital transactions through Net banking/ Mobile banking, If applicable.

I/ we are aware that there can be only one SB account per customer ID through the digital channel. I/ we declare that no other account has been opened nor will be opened using OTP based Aadhaar e-KYC within the same Bank or with any other bank.

I/ we are aware that the link for opening Selfe Account uses cookies to ensure best experience.

I/ we agree that this account shall be subject to regular scrutiny and monitoring from Bank and bank shall have the right to place the account under total freeze/ debit freeze/ close the account at its sole discretion, in case of suspicious transactions or transactions not inconsistent with RBI guidelines relating to the account.

I/We am/are aware that to transact through branches, I/we need to visit an Equitas Small Finance Bank branch and complete signature proof formalities. I/We confirm that I/We will avail of branch transaction facility once the signature proof is updated in the records.

I am aware that I can convert my account to Full KYC only through Client Name and shall schedule an appointment for the same, as per requirement.

I/We hereby confirm that I/We am/are not Non-Resident Indian (NRI) and is not below the age of 18. Also there shall be restrictions on credits and debits in the account as per the guidelines issued by the RBI, which, as on date, restricts me/ us from holding aggregate credit balance of more than Rs.1 lakh in all the accounts held with Equitas Small Finance Bank Limited and cumulative credit transaction carried out by me/ us would not exceed Rs.2 lakhs in a financial year. if I/We do not complete the full KYC process within a period of 1 year from date of account opening, I/We hereby authorize bank to close my account.

I/We agree and hereby authorize Equitas Small Finance Bank Limited to collect my personal details from UIDAI. The Information provided here are true to my/our knowledge and can be verified by any competent authority and also I/We confirm that I have not used the OTP based Aadhaar (E-KYC) to open bank account with any other bank in non-face-to- face mode nor will I open any account with any other bank using OTP based KYC in non-face-to-face mode.

I declare that I/we am/are neither politically exposed nor related to a politically exposed person.

  1. Customer Consent:
    • I/We hereby agree to avail the Host 2 Host (H2H) Services/API Services from Equitas Small Finance Bank Limited and accept such terms, regulations, conditions, governing such services hosted on www.equitasbank.com and as may be laid down by Equitas Small Finance Bank Limited for the purpose from time to time.
    • I hereby declare, confirm and agree that: the H2H Services/API Client Server shall be located at the Client Name Cloud /premises.
    • the Aggregator shall act as the Transaction Initiator under the H2H Service/API service, that all the payment instruction files will be uploaded from Aggregators platform to Bank’s platform and the acknowledgement/ status shall be updated to the aggregator as and when the transactions initiated through the Aggregators’ platform are completed.
    • I/We hereby authorize Bank to accept and act upon any and all payment instructions initiated on the Aggregators’ platform and received through H2H Service/ API Service as through the same were given on Bank’s internet banking portal by the authorized users in respect of the Account(s). We agree to hold Bank harmless and indemnity Bank against any and all suits, costs, claims, proceedings counter claims, action, losses, damages, liabilities, demands, expenses (including, without limitation, attorney's fees and court costs) whatsoever which Bank may suffer/incur on account of it executing such instructions of authorised users received through aggregator’s platform.
    • I hereby authorize Equitas Small Finance bank to accept and act upon any and all payment instructions initiated on the Aggregators’ platform and received through H2H Service/ API Service as through the same were given on bank’s internet banking portal by the authorized users in respect of the Account(s). We agree to hold Equitas Small Finance Bank harmless and indemnity Equitas Small Finance Bank against any and all suits, costs, claims, proceedings counter claims, action, losses, damages
    • All dispute, difference and/or claim shall be subject to jurisdiction of courts in Chennai only.
    • I am / we are, aware that RupeeZen shall be using my / our savings account and transaction details under the savings account with Equitas Small Finance Bank for improving their services and offering personalized services to me / us and also for content and advertising
Classification RUPEEZEN
Data elements stored Demographics such as Date of birth of customer ,Aadhaar name ,Gender , Aadhaar Address given by customer, Customer unique identification number , Customer account number, Transaction Currency Transaction Amount, Balance Amount in the Account Credit or Debit Indicator for transactions, Transaction reference number, Transaction narration Transaction initiated Date and Time ,Last 4 digits of the Debit card, Beneficiary details, Transaction pattern, Source channel of transactions from account / card.
  1. I/ we do agree to all the general Terms & Conditions which can be accessed at:

To avail Direct Benefit Transfer– please convert your account as Full KYC completed by scheduling a KYC verification visit at my / our current address or visiting nearest branch

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RupeeZen offers a Zero balance + Zero maintenance fee goal-based digital savings account in partnership with Equitas Small Finance Bank - an RBI-licensed bank. This account comes with a host of features and benefits like 7% savings account interest rate above 5Lacs average daily balance, 1% cashback on timely savings, auto saving and a lot more

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Email – help@rupeezen.com

RupeeZen is the trade name of Valuesurge Private limited.

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