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Terms and Conditions

Terms and Conditions

Siddaganga Urban Co-operative Bank Ltd., Tumkur

1. Introduction

These Terms and Conditions govern the relationship between Siddaganga Urban Co-operative Bank Ltd., Tumkur (“the Bank”) and its customers. By using any services, the customer agrees to comply with these terms.

2. Definitions

  • Bank: Siddaganga Urban Co-operative Bank Ltd., Tumkur
  • Customer: Any individual or entity availing services
  • Services: Accounts, deposits, loans, digital banking and financial services

3. Account Opening and Operation

  • KYC documents must be submitted as per RBI guidelines
  • Bank may accept or reject applications without assigning reasons
  • Minimum balance must be maintained
  • Accounts may be frozen for non-compliance

4. Deposits and Interest

  • Interest rates are subject to change
  • Premature withdrawal may attract penalty
  • Deposit schemes may be revised anytime

5. Loans and Advances

  • Loans are sanctioned at Bank’s discretion
  • Repayment terms as per agreement
  • Default may lead to recovery action

6. Charges and Fees

Service charges and penalties may be applied and revised from time to time.

7. Customer Responsibilities

  • Provide accurate information
  • Report suspicious activity immediately
  • Follow banking regulations

8. Bank’s Rights

  • Modify services or terms
  • Exercise lien or set-off
  • Disclose data if required by law

9. Limitation of Liability

Bank is not liable for system failures or events beyond control.

10. Privacy

Customer data will be kept confidential except where disclosure is required.

11. Grievance Redressal

Customers may contact branch. Escalation available as per RBI guidelines.

12. Governing Law

Subject to jurisdiction of courts in Tumkur, Karnataka.

13. RBI General Guidelines and Compliance

ATM / Debit Card Transactions
  • Zero liability for customer if fraud reported within 3 days
  • Limited liability applies after 3 days as per RBI rules
UPI / Digital Payments
  • Transactions are processed through NPCI systems
  • Bank not liable for errors due to wrong details entered
  • Customer must verify beneficiary before payment
NEFT / RTGS
  • Transactions processed as per RBI settlement timelines
  • Incorrect details may lead to delay or failure
Unauthorized Electronic Transactions
  • Report immediately to reduce liability
  • Resolution will follow RBI circulars

14. Amendments

Terms may be updated periodically. Continued use means acceptance.

15. Acceptance

By using Bank services, customer agrees to these terms.