SmartWealth Terms & Conditions

  • The following are the important disclosures, terms and conditions and the modus operandi for usage of SmartWealth (“Terms and Conditions” or “T&Cs”). 
  • Part I: General Terms and Conditions

  • I/We understand in SmartWealth, HDFC Bank Limited (“HDFC Bank” or “Bank”) is only showcasing financial products, that is inter-alia mutual funds, insurance, fixed deposits and sovereign bonds products (“Products”). I/We confirm that all decisions to invest in or buy, sell or deal in any of the said Products are solely mine / ours, and I/we shall not hold HDFC Bank responsible for the same in any manner whatsoever including for any losses, claims, demands, third party claims, damages, costs and/or expenses whatsoever, arising from my / our decisions to invest in or to buy, sell or deal in any of the said Products.

  • I / We also understand that for any of the products other than the Products, HDFC Bank may refer or redirect me/us to a third-party website (including any person/entity in the HDFC Group viz. HDFC Securities Limited) as per my/our request and instructions placed through SmartWealth. I / We also understand and consent to being redirected to third party website including for the purpose of opening a savings bank account, submitting ‘know your customer’ (KYC) documents, etc., which may or may not be a part of HDFC Group. I/We understand and agree to take reasonable care, and exercise diligence wherever necessary on the redirection to third party websites.

  • I/We understand HDFC Bank is acting as

  • Mutual fund distributor, registered with Association of Mutual Funds in India (“AMFI”) having AMFI registration number (ARN) 0005;
  • Corporate agents for insurance products under Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015 (“IRDAI Regulations”) and registered with Insurance Regulatory & Development Authority of India (“IRDAI”), having registration no. HCG 93398

  • I/We understand that the mutual fund related information published in SmartWealth is available in the public domain. This information along with information from asset management companies (AMCs) /mutual funds needs to be considered as reference material and will only be a guidance tool for me/us to make any decision to invest in or to buy, sell, hold or deal in units of mutual funds.

  • I/We understand that HDFC Bank is not an issuer of the Products and all Transactions executed by HDFC Bank will be at my/our request, on a non-discretionary and on a non-risk participation basis.

  • I/We understand that if I/we invest by way of regular deposits and fixed deposits on SmartWealth, additional terms and conditions which may be available at   https://www.hdfcbank.com/personal/save/deposits/recurring-deposit/terms-and-conditions  and at https://www.hdfcbank.com/personal/save/deposits/fixed-deposit/regular-fixed-deposits/terms-and-conditions shall also apply.  

  • I/We may quote the Employee Unique Identification Number (EUIN) in the applicable transaction forms at my/our sole discretion where assistance is provided by any employee/relationship manager/salesperson of HDFC Bank.  If the EUIN is quoted, it may be assumed that it has been done at my/our freewill. I/We hereby irrevocably waive and agree not to dispute, contest or challenge, now or at any time in the future, the inclusion, or use of such EUIN, and shall not at any time allege that its inclusion was by coercion.

  • Part II: Risk Profiling

  • I/We understand that there are two methods available for the creation of investment/ risk profile i.e. (i) directly choosing the profile based on the options offered by SmartWealth or (ii) ascertaining the investment/ risk profile through a structured questionnaire. 

  • I/ We also consent for storing the risk profile/ investment profile collected from SmartWealth in the records/data of HDFC Bank and HDFC Bank may also use the same for shortlisting and suggesting mutual fund schemes/insurance products/ fixed deposits for me / us for such period as may be required under the Applicable Laws. I/We understand that such shortlisted and suggested mutual fund schemes/insurance products/ fixed deposits are non-binding and can be overridden by me / us.

  • I/We also consent and understand that in spite of the risk and suitability profiler, the risk and suitability outcome is just an indicative method and not a fool proof method for ascertaining the risk bearing capacity and suitability and I/we will not hold HDFC Bank responsible for any outcomes of any decisions taken by me/ us to buy, sell and/ or deal in any of the said Products.

  • Part III: User Data

  • I / We hereby consent that HDFC Bank can (i) collect and process my/our SmartWealth data for analytics purpose such as UI (User Interface) / UX (User Experience), workflow analysis, journey analytics, future SmartWealth enhancement purposes etc., and (ii) access all my/our account(s) for effecting banking or other transactions through SmartWealth and to share the account information with any third parties for the purpose of accepting/ executing such requests from me/us.

  • I / We hereby also consent for taking my / our data from the other banking products for analysis and providing suggestions which will be beneficial to me/us.

  • I/ We understand and agree that HDFC Bank shall be entitled to share the data collected from me/ us including but not limited to my/our details in respect of facilities availed, security taken, investment/ risk profile, transactions undertaken and balances and positions with HDFC Bank to: 

  • The head office of HDFC Bank, any person/ entity in the HDFC Group in any jurisdiction (“Permitted Parties”); 
  • Professional advisers, service providers or independent contractors to, or agents of, the Permitted Parties, who are under a duty of confidentiality; 
  • Any actual or potential participant or sub-participant in relation to any of HDFC Bank’s rights and/or obligations under any agreement with HDFC Bank, or its assignee, novatee or transferee (or any officer, employee, agent or adviser of any of them);
  • Any credit information company, business alliance partner, rating agency, insurer or insurance broker of direct or indirect provider of credit protection to any Permitted Parties;
  • Any court or tribunal or authority (including an authority investigating an offence) with jurisdiction over the Permitted Parties;
  • Asset Management Companies (AMCs), Registrar and Transfer Agent(s), intermediaries, insurance companies etc,
  • for the purpose of SmartWealth, these T&Cs and for compliance with the Applicable Laws and further gives my/our consent for any such present or future usage by the Permitted Parties in the event I/ we become the Permitted Parties.

  • I/We further agree that all such parties as named above may in its sole discretion decide to rely on such information shared by HDFC Bank. However, HDFC Bank shall have no liability irrespective of whether or not such parties rely on such information shared by HDFC Bank.

  • I/We agree and acknowledge that any person/ entity in the HDFC Group may hold and process my/our personal information concerning my/our account/s/ SmartWealth Account(s) on computer or otherwise in connection with SmartWealth for analysis, credit scoring and marketing. I/We also agree and acknowledge that HDFC Bank may disclose to other institutions, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive, for credit rating by recognized credit scoring agencies, and for fraud prevention.

  • This clause shall survive the termination of the Terms and Conditions.

  • Part IV: Alerts / Notifications

  • I / We understand and consent that HDFC Bank through SmartWealth would send alerts and notifications which will be of interest to me / us. The information and data contained in such alerts and notifications would be provided on a best effort basis based on information known to HDFC Bank. While I / we are free to rely on the above-mentioned information and data, I / we will perform our own analysis and judgement before taking any action or decision on the basis of the same. HDFC Bank shall have no liability whatsoever including (i) if I / We rely on such information or data, (ii) for any errors in the collated information and data and (iii) for non-availability of any relevant information or data on a timely basis. I /we understand that I / we have the option to opt out from receiving such alerts / notifications.

  • Part V: Recommendations not to be construed as investment advice 

  • I/ We understand and confirm that HDFC Bank is only an AMFI registered mutual fund distributor and not an investment advisor. 

  • I / We understand and confirm that HDFC Bank in its capacity as a distributor of mutual funds may give recommendations for information purposes only which shall not in any manner whatsoever be considered/ deemed/ contested as an investment advice of any sort. 

  • I / We understand and confirm that recommendations given by HDFC Bank as a distributor of mutual funds and any material /information contained in SmartWealth do not constitute or shall be interpreted/ deemed as investment advice, offer, solicitation or advertisement with respect to the purchase or sale of any security and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

  • I / We understand and confirm that HDFC Bank does not and will not provide investment advice to me/us and HDFC Bank does not act and shall not be deemed or presumed as the adviser or investment adviser in relation to any Products or any Transaction, in any manner whatsoever.

  • Without prejudice to the generality of above, if HDFC Bank provides any information on the Products (or the relevant reference underlying), Transactions or markets such as research, reports, market trends, investment analysis, commentary or internal ratings upon the performance of selected companies, assets, interest rates, exchange rates and/or indices, etc., I / we represent, warrant and fully understand and agree and undertake that the same should not be construed or contested as:

  • any endorsement of the Products (or the relevant reference underlying), Transactions, services, markets, etc.;
  • a representation that HDFC Bank has performed any due diligence on the Products (or the relevant reference underlying), Transactions, services, markets, etc.;
  • a recommendation or an investment advice of any sought or in any manner whatsoever;
  • HDFC Bank acting as my/our adviser or fiduciary of any sought or in manner whatsoever; and/or

  • a representation by HDFC Bank that the information in the materials is complete, fair, accurate, clear, fair and not misleading (as HDFC Bank does not make any representation with respect to the contents of the materials).

  • I/We understand and agree that I/we should seek and take my/our own independent advice and decision as to the suitability of any Product, Transaction or service as I/we consider appropriate. HDFC Bank shall not be responsible or liable for the accuracy and completeness of any such information, the performance of any Product, or the outcome of any Transaction, in any manner whatsoever.

  • I/We understand and agree that: 

  • I/We shall be solely responsible for making my/our own independent investment decisions; 

  • All decisions on whether to enter into, invest in, hold or dispose of any Product, and whether to enter into any Transaction or to accept a service, shall be solely at my/our discretion, risk and expense;

  • For making any investment decision, I/We do not and will not rely on HDFC Bank, any person/ entity in HDFC Group or any of its Representatives, or on any research, information, representation, advice, recommendation, view, opinion or other statement (in each case whether written or oral) produced or provided by any of the abovementioned persons in making any investment decision; 

  • I/We have made and will make my/our own independent assessment of the Products, Transactions and services including in terms of value, merit, suitability, effects or otherwise.

  •  I/We am/are aware that HDFC Bank does not hold out any of its agents, representatives, directors, officers or employees as having any authority to advise me/us or to provide any investment advise to me/us and HDFC Bank does not purport or intend to advise me/us on the terms of, or any other matters (including risks, etc.,) connected with any Product, Transaction or services.

  • Part VI: Milestone - SmartJar

  • I/We agree and acknowledge that the milestone planning section in SmartWealth is not a mandatory tool. The milestone planning section in SmartWealth is an indicative way to tag and track the fund requirements for the same and there is no guarantee that the financial objective as stipulated for a specific SmartJar will be achieved in the specific time period or the returns appearing in the milestone/calculator in relation to the relevant SmartJar will be achieved at all. The milestone planning calculators will suggest products / services only limited to the products offered through SmartWealth viz., mutual funds, deposits (fixed deposit / regular deposit), Government of India bonds, sovereign gold bonds and insurance products. I/We agree and acknowledge that this milestone/ calculator/ SmartJar should NOT be considered or viewed as financial planning tools or investment advice, and it can be overridden by me/us, and further the decision to buy/ sell/hold shall be solely my/ our decision and not by means of milestone/ calculator/ SmartJar.

  • I/We also consent and agree that HDFC Bank will not be liable / held responsible for either following or deviating from the milestone indicators and parameters.

  • Part VII: Statement of account

  • I/We agree and acknowledge that the asset management companies (AMCs) /mutual funds/ insurance companies/ HDFC Bank may regularly send to me/us (only to first holder) various communications including account statements, fund updates, promotions, etc., HDFC Bank shall not be liable or responsible for the same in any manner whatsoever. In addition to the same, on a best effort basis, HDFC Bank will provide the holding details on SmartWealth, however if there are any differences between the data provided by the asset management companies (AMCs) /mutual funds/ insurance companies and the details displayed / provided in SmartWealth, then the details/statement provided by the asset management companies (AMCs) /mutual funds/ insurance companies should only be relied up on. I/We agree that HDFC Bank shall thus not be liable for any mismatch in details/statements with/of the AMCs/mutual funds/ insurance companies. 

  • I/We agree and acknowledge that HDFC Bank may, basis my/our instructions and consent, give instruction to other service provider to furnish information to HDFC Bank, to enable HDFC Bank to consolidate all the reports pertaining to my/our investments and furnish such consolidated report to me/us, to show absolute, actual /XIRR returns basis purchase price and current market prices of mutual funds, insurance products et al. without incorporating any recommendations. 

  • I/We agree and acknowledge that HDFC Bank is only compiling and consolidating the reports without undertaking any independent verification of the information provided by the service provider.

  • Part VIII: Charges and fee

  • I/We agree and acknowledge that all acts and deeds done or to be done by HDFC Bank for me/us pursuant to the Terms and Conditions or under the SmartWealth shall be at my/our own risk and cost and expenses. I/We agree and understand that there are specific charges/ fees levied by the asset management companies (AMCs)/ mutual funds/ insurance companies depending upon the scheme/fund/policy which I/we am/are investing. This may vary from time to time depending on the size and features of the scheme/fund/policy. I/We would visit https://www.hdfcbank.com/personal/invest/mutual-funds/commissions-on-mutual-funds in case if I need to understand any commission paid / payable to HDFC Bank.

  • All fees, charges and reimbursement of expenditure shall be paid or made in full by me/us without any counter claim, set off or withholding. All our liabilities and obligations hereunder to HDFC Bank shall be joint or several.

  • I/We agree and undertake to pay charges and penalties to HDFC Bank for failure of any standing instruction/ or bounce of any cheque including due to insufficient funds in my/our account. If the bank account is with HDFC Bank, in case standing instructions or the cheque get dishonoured due to insufficient funds, then HDFC Bank will levy and collect charges as per its rates as applicable for such dishonour.

  • I/We also agree to pay fees and commissions as may be charged/ levied by HDFC Bank for SmartWealth and services provided herein and the execution of Transactions as notified to me/us from time to time, and which may be varied or changed from time to time. 

  • Part IX- Limitation of Liability of HDFC Bank and Indemnity

  • I/We agree, undertake and acknowledge that the HDFC Group or any of its Representatives, shall not in any manner be liable to me/us for any direct or indirect losses, damages, expenses, costs, liabilities, claims, third party claims of whatsoever nature, etc.:

  • caused or incurred by me/ us/ any person by reason of any delay, failure or refusal  by the asset management companies (AMCs)/ mutual funds/ insurance companies to deliver or credit any units or insurance products purchased even though payment has been made for the same, or any delay, failure or refusal  in making payment in respect of any mutual fund units or insurance products sold though they may have been delivered;
  • caused or incurred by me/ us/ any person by reason of  any delay, failure or refusal by the asset management companies (AMCs)/ mutual funds/ insurance companies/any company/corporation or other body in registering or transferring units or insurance policies to my/our names or for any loss of any interest, dividend, insurance benefits, claims etc., caused to me/us arising therefrom;
  • caused or incurred by me/ us/ any person  by reason of any act or omission of HDFC Bank acting as my / our agent;
  •  caused or incurred by me/ us/ any person by reason of act, omission or delay by the asset management companies (AMCs)/ mutual funds/ insurance companies or for any claims which I/we may suffer or incur as a result of or in course or discharge by HDFC Bank of its nominees, agents, officers or sub custodian of HDFC Bank's duties;
  • caused or incurred by me/ us/ any person by reason of any fraudulent or unauthorised use of my/our signatures and /or unauthorised use of my /our telephone or personal identification number;
  • caused or incurred by me/ us/ any person by reason of the mobile phone number and/or debit card PIN and/or any other mode of verification as prescribed by HDFC Bank from time to time being disclosed/ shared by me/us with any unauthorized persons or in any other manner whereby the security of any of the modes of verification is compromised;
  • caused or incurred by me/ us/ any person by reason of any external website or services which I/we are redirected to in relation to any Products;
  • caused or incurred by me/ us/ any person by reason of any errors or inaccuracies for any of the publicly available information that may be provided to me/us by HDFC Bank.
  •  caused or incurred by me / us /any person by reason of any defects or imperfections or mechanical or other failure with relation to computer, cable, telex, telephone or postal system, or any other medium or mode of communication of the customer, HDFC Bank's system or the network of any cellular service provider and/or any third party who provides such services as is necessary to provide SmartWealth beyond control of HDFC Bank;
  • caused or incurred by me / us /any person by reason of any circumstances beyond the control of HDFC Bank, including but not limited to strikes, lock-outs or other industrial action, fire, flood, explosion, earthquake, subsidence, epidemic, pandemic, endemic, natural physical disaster, civil commotion, riot, invasion, war,  war threat or preparation for war, outbreak of war, rebellion, revolution, hostilities, riot, civil disturbance, acts of terrorism (including bans on non-essential travel) issued by the World Health Organisation or any governmental authority, theft, accident, nationalization, expropriation, currency restrictions, measures taken by any government or agency of any country, state or territory in the world, actions taken by any regulatory authority regulating asset managers, amendments to Applicable Laws, industrial action or labour disturbances of any nature amongst employees of HDFC Bank or of its agents or of any third parties, boycotts, power failures or breakdowns in communication links or equipment system failures, network errors (including but not limited to loss of electronic data), international conflicts, violent or armed actions, acts of terrorism, insurrection, revolution, nuclear fusion, fission or radiation, or failure or disruption of any relevant stock exchange, clearing house, clearing or settlement systems or market (“Force Majeure Event”);
  • caused or incurred by me/ us/ any person by reason of any depletion in the value of investments made through SmartWealth, which may result by reason of fluctuation in asset value, or by reason of non-performance or under-performance of the securities/funds/ insurance products or any other market conditions whatsoever.

  • I/We further agree to indemnify keep indemnified and harmless at all times HDFC Group and its Representatives from and against any and for any present and future, direct and indirect losses, claims, legal proceedings, actions, demands, risks, charges, taxes, duties, damages, costs, expenses (including without limitation attorney’s fees and expenses), liabilities, suits, counter claim, third party claims, etc. whatsoever that may arise as a result of system failure, accident or any of the reasons mentioned above in Clause 9.1.

  • Notwithstanding anything stated in the Terms and Conditions: 

  • HDFC Bank shall be under no duty to verify compliance with any restrictions on my/our investments;
  • in the event of equipment breakdowns beyond its control, HDFC Bank shall have no liability with respect thereto.
  • Part X- Role of the Bank 

  • I/We agree and acknowledge that HDFC Bank’s role is limited to distribute the mutual fund units, and as such HDFC Bank has no role in the operations, management or design of the mutual fund schemes or performance thereof. None of the mutual fund schemes distributed by HDFC Bank are HDFC Bank’s own products, and HDFC Bank only makes me/us aware of these schemes on an ‘as is where is’ and ‘as is what is’ basis. I/We know that we have to be solely guided by mutual fund scheme documents and not by any of HDFC Bank’s literature. I/We understand that any investment/exit transaction is directly between me/us and the mutual fund, independent of and without involving HDFC Bank, as also that HDFC Bank’s distribution shall not be taken as HDFC Bank’s representation of soundness or performance of any mutual fund scheme.

  • I /we understand and agree that any sum invested through HDFC Bank’s SmartWealth is not a deposit with HDFC Bank and is not and shall not insured by HDFC Bank. The same is not endorsed or guaranteed by and does not and shall not constitute obligations of HDFC Bank or any of the person/ entity in HDFC Group in any manner whatsoever. The securities purchased and deposits made are subject to investment risks, including the possible loss of principal amount invested. The value of my/our units/securities/deposits/investments may fluctuate. If I/We redeem my units/shares/deposits/investments, I/we may receive more or less than what I/we have paid or incurred or invested depending upon market value of the units/shares/deposits/investments at the time of redemption. Past results are not a guarantee to future performance. Yield or performance fluctuates and reflects past results. Yield or funds’ past performance should not be considered as an indication or guarantee of future yields or results.

  • I/We agree and understand that I/we can avail insurance from any of the insurers/insurance companies through SmartWealth as per my requirement and at my discretion. I/We agree and understand that insurance is underwritten by the respective insurance companies and HDFC Bank does not underwrite the risk or act as an insurer in any manner whatsoever. The contract of insurance is between the insurance company and the insured only, and not between HDFC Bank and the insured. HDFC Bank is only acting as a corporate agent of the insurance products offered by the insurance companies. HDFC Bank is and shall not be responsible or liable in for performance of any obligations under the contract of insurance. Insurance is sold as a stand-alone product and not linked to any of the banking products or services. Participation in insurance is purely on a voluntary basis. Purchase of insurance is not a pre-condition of availing any of the banking products/services. The product information of insurance given on the website is indicative in nature. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance whatsoever. 

  • I/We agree and acknowledge that for the Products in relation to insurances, I/We may be redirected to external websites that are operated by entities other than HDFC Bank. I / We agree that HDFC Bank is not responsible for and shall not be held liable for any content, services, privacy practices, or any other aspect of such third-party websites. 

  • I / We understand and agree that such third-party websites may have their own terms of service and privacy policies, which will govern my/our use of those websites. I / We agree to review and accept those independently and, that use of such websites is at my/our own risk.

  • For IRDAI grievances, please visit: igms.irda.gov.in. For more details on risk factors, product details, terms and conditions and exclusions, please read the relevant product brochure carefully before conclusion of sale/purchase.
  • Part XI- Compliance with laws 
  • I /We undertake to always comply with all Applicable Laws. I/We agree and acknowledge that HDFC Group and its Representatives have no obligation whatsoever to monitor or ensure my/our compliance with Applicable Laws including any restrictions in relation to investments, insurances, my/our authority and capacity to open, maintain or operate accounts, to enter into any Transaction, to accept the provision of services or to give instructions or otherwise to act in connection with any Transaction or service.
  • Part XII- Payments 

  • I/We agree and acknowledge that all payments to me/us under any Transaction or service shall be made to the account as instructed by me/us or any one of my/our account with HDFC Bank or by such other means, in each case, as HDFC Bank shall determine in its discretion. 

  • I/We agree and acknowledge that all payments by me/us to HDFC Bank or under any Transaction or service shall be made either by deductions from the account as instructed by me/us or any one of my/our accounts with HDFC Bank as determined by HDFC Bank in its sole and absolute discretion; or payments to an account designated by HDFC Bank, or by such other means as may be notified to me/us from time to time.

  •  I/We agree and acknowledge that all such payments made by me/us shall be made in full in immediately available and freely transferrable funds without set off or counterclaim or any restriction or condition, free and clear of and without withholding or deduction of any taxes, charges or fees of any nature now or hereafter imposed or howsoever arising. 

  • If I/We am/are become required by Applicable Laws to make any such withholding or deduction from any payment, then  I/we shall pay to HDFC Bank, in addition to the payment to which HDFC Bank is otherwise entitled under any Transaction or any service, such additional amount as is necessary to ensure that the net amount actually received by HDFC Bank will equal the full amount HDFC Bank would have received had no such deduction or withholding been required. 

  • I/We shall be responsible for all risks and expenses in connection with any payment under any Transaction or service. Any expenses in connection with the making of payments under any Transaction will be paid by me/us.

  • I/We agree and acknowledge that if, on any date, amounts are due and payable by each of HDFC Bank and me/us to the other in the same currency in respect of any one or more Transaction and/or service, such amounts shall be automatically satisfied and discharged and only the net amount owing on that day shall be paid by the party owing the larger amount to the other party. 

  • I/We agree and acknowledge that HDFC Bank may charge interest in respect of any sums due to HDFC Bank and unpaid at such rates as HDFC Bank may determine until all such sums are fully paid, before as well as after judgment.

  • Part XIII- Representations, Warranties and Undertakings
  • I/We represent and warrant to HDFC Bank as follows on continuous basis:
  • I/We have the full and absolute capacity, authority and right to enter into and engage in the Transactions and has taken and obtained all necessary action, authorisations and approvals for entering into the Transactions and performance of my/our obligations in respect thereof in accordance with all Applicable Laws;
  • No litigation, arbitration or proceeding, enquiry or investigation is ongoing or pending or threatened against me/us or my/our business or assets;
  • The Terms and Conditions and any application form, and other documents and forms constitute legal, valid and binding obligations on me/us and enforceable against me/us in accordance with their respective terms; 
  • The utilisation of SmartWealth by me/us, the entering into of the Transactions by me/us, the instructions given to HDFC Bank and the performance by me/us of my/our obligations will not contravene any Applicable Laws applicable to me/us or any agreement or contract binding on me/us; 
  • I/We have the capacity to evaluate each Transaction (including decisions regarding the appropriateness or suitability of each Transaction) and has/have made and will make my/our own decision to enter into each Transaction based upon my/our own judgment and upon advice from such professional advisers as I/We deem necessary to consult;
  •  All information supplied or provided by me/us in connection with the Transactions and services is true, complete and accurate in all respects; 
  • Any monies held in each account or used in connection with any Transaction are not in any way derived from money laundering or criminal activities.
  • Part XIV- Correspondence 

  • Any notice or other correspondence addressed by HDFC Bank to me/us may be addressed to the primary holder. If according to me/us there is any discrepancy in the particulars or details of any transaction or account of statement then I/we shall be obliged to intimate the same to HDFC Bank in writing within 10 days from the day on which  the primary holder receives notice thereof, failing which such transaction, statement or account (as the case may be) shall be deemed to be correct and accepted by me/us and I/we shall not be entitled to question the correctness or accuracy thereof. I/We further acknowledge that HDFC Bank has taken all necessary steps to record and maintain my/our most recent communication details (including mailing address, email address, and telephone number), and any communication sent to those recorded details shall be deemed properly delivered.
  • Part XV- Authority to HDFC Bank
  • I/We authorise HDFC Bank to do, perform or execute upon my/our express instructions and at my/our risk, expense and cost, all or any of the following acts, deeds, matters and things: 
  • To purchase, sell, subscribe, or redeem mutual funds, insurance products, sovereign gold bonds, and other investment instruments on my/our behalf, and to receive the payment of the redemption/sale price and acknowledge receipt of the same on my/our instructions. For this purpose, HDFC Bank is authorised to debit and/or credit my/our designated bank account as necessary to effect such transactions;
  • To appoint on my/our behalf any agents /nominees/sub-custodian/trustees or any other service provider as HDFC Bank may deem appropriate for facilitating the services or transactions authorised herein;
  • To receive the account statement pertaining to the units/securities/deposits/insurance products and to acknowledge receipt of the same;
  • To sign all such writings and do all such acts as may be required for redeeming any units/securities/ deposits/insurance products;
  • To collect, receive and give good effectual receipts and discharges for any sum including dividend, interest or income arising from the units/securities/ deposits/insurance products and to sign and endorse dividend and interest warrants;
  • To collect and deposit monies in an account opened in my/our name with HDFC Bank and to make such debits in the said account as may be necessary;
  • To give instructions and orders to brokers and agents including instructions and orders of sale, purchase, transfer, splitting and consolidation of securities and to pay remuneration, brokerage, commissions and other sums to such brokers and agents;
  • To correspond with and give notice to the mutual funds and corresponding asset management company/ insurance companies on my/our behalf;
  • To instruct the mutual fund and/or the corresponding asset management company to make note of instructions with regards to nomination /changes in investment plan/any other changes.
  • Part XVI- Holding Pattern and Customer details

  • I/We agree and acknowledge that, in cases of joint accounts, the primary holder/ first holder will be solely considered as customer / user of the SmartWealth. 

  • The other requisite data (which is not part of the form) required to be reported to AMC / RTA/ insurance companies will be extracted from HDFC Bank account details maintained for the first holder.

  • Part XVII- Termination
  • I/We agree and acknowledge that HDFC Bank or myself/ourselves may terminate the engagement by giving 30 days prior notice in writing to the other party provided that notwithstanding such termination I/we shall not be relieved of my/our obligations hereunder incurred prior to the date on which such termination shall become effective.
  • Part XVIII- Death or Disability
  • I/We acknowledge and agree that, in the event of my/our death or permanent disability/ incapacity, HDFC Bank shall act in accordance with the Applicable Laws and applicable guidelines of the respective mutual funds, Asset Management Company(ies), IRDAI, AMFI, RBI etc., , insurance companies, approved thirdparty service providers and industry standards for transmission, nominee operation, or other protocols.
  • Part XIX- Governing Law and Jurisdiction 
  • The Terms and Conditions and the Transaction conducted through SmartWealth shall be governed by the laws of India. All disputes and differences arising out of, under or in connection with the Terms and Conditions and the Transaction conducted through SmartWealth or anything done hereunder/thereunder shall be within the exclusive jurisdiction of the courts and tribunals of Mumbai.
  • Part XX- Conflicts of Interest

  • I/We understand that HDFC Bank serves other clients across various services and products and will continue to do so. I/We also understand that HDFC Bank may service or take action in performing its duties to other clients, or for their own accounts, that differ from what is offered to or acts taken for me/us.

  • I/We agree and understand that HDFC Group and its Representatives may have investments in various securities/instruments/products from time to time and the conflicts of interest would be inherent. It is intended for such conflicts to be managed primarily by complying with the Applicable Laws, acting in good faith to develop equitable resolutions of known conflicts based on internal conflict resolution policies, and developing policies to reduce the possibilities of such conflict. Further, while selling mutual fund products/ insurance products of any person/ entity in the HDFC Group, HDFC Bank shall make appropriate disclosures to the investors regarding the conflict of interest arising from distribution of such mutual fund scheme or acting as corporate agent to such insurance products.

  • HDFC Asset Management Company is an associate company of HDFC Bank and details of the commissions paid by HDFC Asset Management Company to HDFC Bank in last financial years are available at www.amfiindia.com

  • Part XXI: Risk Disclosure Statement
  • I/We have read and understood the information set out below.

  • Risks of mutual funds, insurance products, fixed deposits and other related products

  • Mutual funds units involve investment risks including the possible loss of principal. Please read the scheme information document (SID) carefully for details on risk factors before investment. General risk factors are summarized below:
  • Investments in debt and money market instruments are subject to credit, counterparty, interest rate, reinvestment, liquidity and marketability risks. Investments in derivatives such as interest rate futures or swaps carry the specific risks associated with such instruments.
  • Market and trading risks include the possibility of no active market, lack of liquidity, deviation from net asset value (NAV), regulatory changes, limits on redemption, and exposure to asset class-specific risks.
  • Tracking error may arise when the fund manager is not able to invest the entire corpus exactly in the same proportion as in the underlying index due to certain factors which may affect AMC’s ability to achieve close correlation with the underlying index of the scheme, causing scheme returns to deviate from its underlying index. Tracking error, defined as the standard deviation between daily index returns and the scheme’s NAV, is targeted to remain within 2% per annum under normal conditions but may exceed this during index reconstitution, market volatility, or other exceptional events. No assurance can be given that any specific level of tracking error will be maintained.
  •  All investments will be managed by the respective schemes/AMCs of the respective funds.  
  • Investments in equities and equity-related instruments are subject to volatility, price fluctuations, and liquidity constraints.
  •  Securities lending involves the risk of borrower default, temporary illiquidity, and possible losses in auction settlements.
  •  Mutual fund units carry liquidity, volatility, and default risks, including possible loss of principal. Liquidity may be restricted by market volumes, settlement periods, and transfer procedures, and large redemptions or portfolio changes may delay or suspend withdrawals as permitted in the scheme information document.
  • Market volatility may result from liquidity flows, economic changes, or policy shifts, and is managed through diversification within PSUs.
  • Default risk stems from a counterparty’s failure to meet obligations; while government securities carry zero credit risk, other debt instruments depend on issuer’s credit ratings. 
  • Investors should refer to the respective fund’s offer document for complete capital market risk disclosures.
  • Investments in Treasury Bills Repurchase (TREPs) are exposed to interest rate fluctuations and limited counterparty risk through Clearing Corporation of India Limited’s (CCIL) settlement waterfall mechanism.
  •  Fixed income investments, while generally more conservative than equities, remain exposed to market risks, which can be mitigated but not eliminated through diversification.
  • Assumption risk: Insurance policies have features like survival, mortality, expenses which are based on certain assumptions at the time of purchase. Thus, any changes in these assumptions over time may impact future payments or benefits.
  • Liquidity and surrender limitations: Insurance products are designed as long term financial commitments, hence early surrender, withdrawals may be subject to penal charges or provide lower value than expected.
  • Interest rate risk: Bond prices generally fall when interest rates rise and increase. Longer-maturity and low- or zero-coupon bonds are more sensitive to rate changes. If bonds are sold before maturity by the investor, it could result in loss or gain depending on the interest rate environment. 
  • Credit risk / Default Risk: Issuers of bonds may fail to make interest or principal payments, or may be downgraded, reducing bond value. This risk is higher for high-yield or non-investment-grade bonds.
  • Inflation risk: Rising inflation reduces the purchasing power of the investor, especially for investors relying on fixed interest payments.
  • Call risk: Issuers can redeem callable bonds early when interest rates drop, forcing the investor to make reinvestment at lower yields and reducing overall returns.
  • Liquidity risk: Some bonds trade infrequently, making them harder to sell quickly at fair value. Liquidity risk is greater for lower-rated, smaller-issue, or infrequently issued bonds.
  • Insolvency: If an issuer or counterparty becomes insolvent, investors may face delays in liquidating investments, suffer total loss of value, or have positions closed without consent. Recovery claims are generally subordinate to those of secured or preferred creditors.
  • Risks associated with unsecured e-mail communication: Unsecured email is vulnerable to interception, forgery, and malware. HDFC Bank is not responsible for losses arising from such risks.
  • Commissions, Fees and Charges: Investors should understand all applicable costs, commissions, fees before transacting, as these reduce returns or increase losses.
  • Taxation: Tax implications depend on individual circumstances and may change. HDFC Bank does not provide tax advice, and investors should consult a tax adviser.
  • THIS RISK DISCLOSURE STATEMENT DOES NOT DISCLOSE ALL THE RISKS AND SIGNIFICANT ASPECTS OF THE INVESTMENTS/ TRANSACTIONS. THE CLIENT IS ADVISED TO STUDY CAREFULLY THE TERMS AND CONDITIONS OF THE RELEVANT INVESTMENT AND SEEK INDEPENDENT FINANCIAL, TAX, LEGAL OR OTHER ADVICE, AS APPROPRIATE, BEFORE ENTERING INTO ANY INVESTMENT.
  • Part XXII- Miscellaneous
  • I/We understand and acknowledge that the scheme I/we am/are subscribing to is of Regular Plan which involves payment of commission to HDFC Bank. The link for the rate of commission received or receivable by HDFC Bank for the different competing schemes of various mutual funds can be accessed here https://www.hdfcbank.com/personal/invest/mutual-funds/commissions-on-mutual-funds. The list of mutual funds HDFC Bank is affiliated with can be accessed at https://www.hdfcbank.com/personal/invest/mutual-funds/mutual-funds-offered-through-hdfc-bank. 
  • Part XXIII- Provision of Services being Non-Exclusive
  • I/ We agree and confirm that save as otherwise specifically provided in the Terms and Conditions or any Applicable Laws or regulations, nothing contained in this Terms and Conditions shall prevent HDFC Bank from:
  • Acting as advisers / distributors/ corporate agents of financial products to any other person or entity or to do any other business which it can legally perform;
  • Buying, holding, selling and/or dealing in shares or other securities, in its independent capacity, in its own account, any of the affiliate’s account and/or affiliates or its client’s account;
  • As stated above, the services provided by HDFC Bank to me/us hereunder are not to be deemed exclusive and HDFC Bank shall be free to render similar services to others and retain for its own use and benefit all fees or other moneys payable thereby and HDFC Bank shall not be under any duty to disclose to  me/us any fact or things which comes to the notice of HDFC Bank or any servant or agent of HDFC Bank in the course of HDFC Bank rendering similar services to others or in the course of its business in any other capacity or in any manner whatsoever otherwise than in the course of carrying out its business hereunder.
  • Part XXIV- Electronic / Authentication related disclosures 

  • I/We acknowledge and agree that HDFC Bank has adopted the mode of authentication of the customer by means of verification of the mobile phone number/Email ID and/or through verification of debit card PIN allotted by HDFC Bank to the customer or through any other mode of verification as may be stipulated at the discretion of HDFC Bank. The unauthorized access and/or use of aforementioned modes of authentication can raise a risk to the security of my/our Account(s).

  • Hence, to avoid any legal risks related with use of modes of verification I/we shall ensure maintenance of complete confidentiality, secrecy and protection of the authentication parameters such as mobile device, OTPs, PINs, debit card PIN, etc.  allotted to me/us or any other mode of verification as may be stipulated at the discretion of HDFC Bank.

  • I/ We shall not disclose the mobile phone number, OTPs, PINs, debit card PIN, etc. and/or any other mode of verification to any other person and shall not respond to any unauthorized SMS/ email/ phone call wherein such details have been asked for.

  • Therefore, I/we am/are solely responsible to maintain the secrecy and confidentiality of the mobile phone number, OTPs, PINs, debit card PIN, etc.  and/or any other mode of verification as prescribed by HDFC Bank from time to time without any liability or responsibility of HDFC Bank whatsoever in this regard.

  •  I/We acknowledge and agree that HDFC Bank reserves the right to decide what services may be offered to me/us on the SmartWealth and each Account(s) and such offers may differ from customer to customer. 

  • The instructions of the customer shall be put into effect after authentication by means as stipulated in Clause 24.1 above, or through any other mode of verification as may be stipulated at the discretion of HDFC Bank. I/We acknowledge and agree that since the transactions are instantaneous in nature, the reversal of the same is not feasible. I/We acknowledge and agree that no stop payment requests submitted by me/us would be accepted by HDFC Bank. 

  • Part XXV- RECORDS
  •  I/We agree and acknowledge that all records and data of HDFC Bank generated or created by or pursuant to the transactions arising out of use of/ over the SmartWealth, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
  • Part XXVI- INSTRUCTIONS

  • I/We agree and acknowledge that I/we am/are also responsible for the accuracy and authenticity of the instructions provided to HDFC Bank and the same shall be considered to be sufficient for availing of the services in SmartWealth. The alerts would be sent on the mobile phone number, last registered with HDFC Bank. The alerts will not be offered for two mobile phone numbers for the same Account(s). The same mobile phone number cannot be registered for availing services in SmartWealth in relation to different Account(s) under different user IDs. 

  •  I/We agree and acknowledge that where HDFC Bank considers the instructions to be inconsistent or contradictory it may seek clarification from me/us before acting on my/our instruction or act upon any such instruction as it may deem fit. HDFC Bank shall have the right to suspend the services in SmartWealth if HDFC Bank has reason to believe that the my/our instructions may lead to direct or indirect loss or breach of any Applicable Law or may require an indemnity from me/us before continuing to operate SmartWealth.

  • Part XXVII- ACCURACY OF INFORMATION 

  • I/We undertake to provide true, correct, accurate and complete information wherever required and shall be solely responsible for the adequacy, correctness and completeness of information provided by me/us to HDFC Bank at all times, including, but not limited to, for the purposes of availing services in SmartWealth. If I/we suspect that there is an error in the information supplied by HDFC Bank to me/us, I/we shall advise HDFC Bank as soon as possible. HDFC Bank will endeavour to correct the error wherever possible on a best effort basis. While HDFC Group and its Representatives will take all reasonable steps to ensure the accuracy of the information supplied to me/us, HDFC Group and its Representatives shall not be liable for any inadvertent error, which results in providing inaccurate information.
  • Part XXVIII- MODIFICATION 
  • I/We agree and acknowledge that HDFC Bank shall have the absolute discretion to amend or modify or supplement the Terms and Conditions. HDFC Bank may communicate the amended or modified Terms and Conditions by hosting the same on SmartWealth or in any other manner as decided by HDFC Bank. I/We agree that I/we shall be responsible for regularly reviewing the Terms and Conditions, including amendments or modifications or supplements thereto as may be posted on SmartWealth and shall be deemed to have accepted the same by continuing to use SmartWealth. 
  • Part XXIX- REPORTS SECTION 
  • I/We understand that upon my/our request SmartWealth provides a report in respect of my/our investments. I/We hereby confirm that I/we have read and understood the disclaimer as provided below:

  • The said report (“Report”) is prepared specifically at my/our request, is for information purposes only and is not an official confirmation of any transaction. Asset / product allocation displayed in the Report is based on standard tabulated profiler with a fixed percentage allocation to each asset category. This may vary from my/our actual asset allocation requirement. These are standard adopted procedures for each asset category. This Report shall be only used for the purpose of guidance. This Report is compiled based on the data received from various agencies like AMCs (Mutual Funds) and their RTAs, insurance companies, portfolio managers, private equity funds, equity / debt brokers, deposit taking institutions, and based on equity price & NAV data from various sources. 

  • The information in the Report is believed to be reliable and will be obtained from sources believed to be reliable and while effort will be made to ensure accuracy of information indicated in the Report, HDFC Bank cannot confirm full accuracy. I/We shall refer to the actual statements issued by the respective fund house / product providers/insurance companies/service providers for accuracy. In addition to this, the held-away transactions captured / executed by me/us through any external party / agency / agent etc. are included only for the purpose of consolidation, based on inputs received from me/us in this regard. Information on assets/debts in non-HDFC Bank portfolio is based on data shared voluntarily by me/us on ‘as is’ basis and is included in the Report without any verification. The annualized return is calculated over the entire investment period considering all cash flows (for current active holdings) and is computed using the Extended Internal Rate of Return (XIRR) method. It is calculated on the market value as on the date preceding the statement date, which might be different than the market value shown in the Report.

  • HDFC Bank neither guarantees nor makes any representations or warranties, express or implied, direct or indirect with respect to the fairness, correctness, accuracy, adequacy, reasonableness, completeness, viability for any purpose or reason whatsoever of the information contained in the Report. Further, HDFC Bank disclaims all liability in relation to use of data or information used in the Report which is sourced from third parties. Except where expressly stated otherwise, the Report would contain information on investments in third party mutual funds/insurance/equities /investment funds/fixed deposits and other alternate products, which may / may not be distributed or sourced by HDFC Bank. HDFC Bank is not responsible for accuracy of the Report as there is/would be dependency on the data input and correct mapping of the data to me/us. HDFC Bank will not be liable for any transaction action taken by me/us based on the Report. Neither HDFC Group nor any of its Representatives shall be liable for any direct, indirect, special, incidental, consequential, punitive, or exemplary damages, including loss of profits arising in any way from the information contained in the Report. It advised that exit loads applicability is referred before taking any decision and that exit load (if any) levied by the fund house would be recovered from redemption proceeds. HDFC Bank is not liable for any holdings not reflecting or wrongly reflecting in the Report. HDFC Bank would compile the Report on best effort basis. The Report shall not be used for tax filing and related activities and I/we should refer actual transaction statements issued by fund house/product manufacturer and consult tax practitioner.

  • All the bank accounts linked to my/our customer ID submitted / informed by me/us to the relationship manager / the person servicing me/us from the HDFC Bank are reflected in the Report in the form of cash/debt. Investment in fixed deposits are displayed at the investment amount. The mutual fund new fund offer (NFO) transactions executed by me/us will be part of the holdings on the basis of receipt of NFO feed from respective AMCs/ Registrar and Transfer Agent (RTA) executed through HDFC Bank. The direct equity portfolio reflects the equity holdings in the demat account held with HDFC Bank and are updated for providing the valuation of the equity portfolio. The cost price (as last available National Securities Depository Limited (NSDL) price only for equity) for equities / insurance (unit linked schemes) is not the actual value/ fair market value and is not to be used for return/gain calculation. Accrued interest on the bonds is calculated on face value based on data received from vendor and is just for representation purpose. Market value for unlisted securities is not updated as the same is not available. For unlisted/not frequently traded securities, last traded price may not represent actual valuation and / or current market price, the stock / security prices are also dependent on the liquidity of that particular stock and such information may not be in public domain and HDFC Bank may be relying on information provided by the AMCs or other third-party service provider. Private equity and portfolio management investments are updated as part of the equity holdings and are shown at the last available valuation/ cost price. HDFC Bank shall not be liable for the correctness or accuracy of any such information.

  • All returns are calculated on the net amount received by me/us post deduction of statutory levies and taxes if any. Rates mentioned for the term deposits with HDFC Bank is the applicable interest rate of the deposit(s). For standalone term deposits i.e (Deposits held with corporate), in case of partial withdrawal, interest paid/accrued will get adjusted at the next transaction/month end/maturity whichever is earlier. Transmission-in cases have been treated as purchase transactions, & transmission-out cases have been treated as redemptions / sales transactions. Amount related figures are rounded off up to 2 decimal places in the Report. In case the NAV for scheme / funds is not received from the RTA, the last available NAV or the face value of the respective scheme / fund is reflected.    

  • The information referred to prepare the Report would be based on the end of the day balance in the respective accounts held with HDFC Bank on the date of generation of the Report. The prices, value, income and appreciation of the investments mentioned in Report would be captured on the basis of data received from different sources and would be subject to change. The data used for classification would be obtained from a variety of sources and may not be current (see 'As of Date/NAV Date/Valuation Date' shown in the details section for the date the portfolio holdings reported by the fund). Mutual funds, close ended funds and the investment options of underlying annuities change their portfolio holdings on a regular basis (often daily). Accordingly, any analysis that includes mutual funds, close ended funds and the investment options of underlying annuities may not accurately reflect the current composition of these funds. In case of any change, please contact your relationship manager.

  • HDFC Bank acts merely as a distributor of mutual fund, and /or as corporate agent for insurance products and is not a custodian or advisor in respect of investments mentioned in the Report. HDFC Bank shall not be liable for any delay in receipt of the Report. I/We shall notify HDFC Bank immediately and in any case within two weeks date of the report if I/we notice any error or discrepancy in the Report. The Report would be for me/our exclusive and confidential use only. Any distribution, use or reproduction of the Report without the prior written permission of HDFC Bank, is unauthorized and strictly prohibited. If I/we have received the Report in error (or are not the intended recipient) I/we shall notify HDFC Bank immediately and destroy the Report.

  • Part XXX- DigiPassbook Terms and Conditions
  • I/ We acknowledge that if I/ we choose the ‘DigiPassbook’ feature/ option by clicking on the same on SmartWealth or through such other means, the following terms and conditions shall additionally be applicable.

  • For this relevant Part XXX (DigiPassbook Terms and Conditions) the following capitalized terms shall have the meanings assigned to them as under: 

  • “Account Aggregator(s)” shall mean a company that has obtained a certificate of registration in accordance with the RBI NBFC-AA Master Directions. 
  • “Data” shall collectively refer to the following data/ information in relation to the customer itself and/or any other persons: 
  • a) all personal data, sensitive personal data or information, transactional data, Derivative Data, any other information, etc.; 
  • b) any Financial Information;  
  • c) expenses, spends, investments, assets, net worth, fixed deposits, shares, securities, mutual fund holdings, insurance, loans, credit cards, provident fund details, pension details;  
  • d) know your customer (KYC)/anti money laundering (AML) data, transaction history, bank account details, bank account statements, account balance, statements of investments, etc; and 
  • e) any information obtained/received by HDFC Bank from any other source. 
  • “Derivative Data” shall mean any credit scores, credit information, behavioural projections, profiling, analytical results, reports (prepared by HDFC Bank internally or by other persons) including through any algorithms, analytics, software, automations, profiling etc., and whether such derivative is from the information collected from me/us or in combination with any other information sourced from any other person database or source whether by HDFC Bank or other persons. The process of arriving at and generation of such Derivative Data involving or through any of the above sub-processes/methods, shall be referred to as “Derivation”. 
  • “Financial Information” shall mean ‘financial information’ as defined in the RBI NBFC- AA Master Directions, as modified, amended and restated, from time to time. 
  • “RBI NBFC-AA Master Directions” shall mean the master direction issued by the Reserve Bank of India (RBI) titled Master Direction- Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016, as modified, amended and restated, from time to time. 

  • I / We hereby consent to and authorise HDFC Bank and its Representatives, to process, use, store, retain and/or share with the Account Aggregators and/or Representatives and/or to collect from the Account Aggregators and/or any other databases, sources, persons/entities, the Data or any part thereof, for any of the following purposes: 

  • i) categorization, consolidation, re-organization, re-arranging, classifying, labelling, and/or displaying the Data (collectively “Categorization”) including presenting my income, expenses, assets, spends and investments including in the form of pie charts, headings and/or categories on SmartWealth; 
  • ii) making available the ‘DigiPassbook’ on the SmartWealth App including displaying a consolidated view of the bank account statements and total net-worth of me/us and any other persons on SmartWealth;
  • iii) deploying any analytics, automated processing, algorithms, robotics, profiling, encryptions, coding, anonymizations, etc., for any of the aforesaid; and  
  • iv) for sharing any Derivative Data (between HDFC Bank and its service providers) in connection with the aforesaid purposes. 

  • I/We hereby agree that any categorization as provided above are not being provided on a real time basis and are subject to a time lag and HDFC Bank is in no manner warrantying the accuracy, reliability, quality and/or correctness of any categorization displayed to me/ us.  

  • I/We hereby agree that the categorization is shown to me/us only as indicative information solely for my/our convenience and I/we shall not base any of my/our decisions on this.  

  • I/We hereby agree that HDFC Bank is not providing any investment, financial planning, wealth management, referral, or any other advice, to me/ us by providing the categorization.  

  • I/We hereby agree that HDFC Bank makes no warranty of the categorization including whether the categorization will meet the requirements for me/us, and I/we agree that I/we shall rely on the categorization shown on SmartWealth at our own risk and shall not hold HDFC Bank liable for any loss and/or damages incurred by me/us for relying on such categorization. 

  • For the aforesaid consents, authorizations and purposes covered above, it shall be deemed that I/we have furnished all the data separately under these terms.  

  • I/We hereby agree that HDFC Bank shall at its sole discretion rely on the consents as above for processing the data on a daily/ recurring basis, without requirement of any further act or deed of me/us and/or any further authorization of or intimation to me/us.  

  • I/We hereby acknowledge that I/we can revoke this consent, wholly or partially, and that the revocation of the consent may result in restricted functionality or diminished services. Upon revocation of this consent, HDFC Bank will promptly cease the processing of the data for categorization.  

  • The consents given or denied under these terms and conditions do not limit any other consents obtained or given. 

  • Part XXXI- DISCLAIMER OF LIABILITY

  • I/We agree and acknowledge that HDFC Group  shall not be responsible or liable for any failure on my/our part  to utilise SmartWealth due to me/us not being within the geographical range within which SmartWealth is offered/ is operable and which forms part of the roaming network of such cellular service provider, providing services to me/us availing such roaming facility from the respective cellular service provider.

  •  If I/we have reason to believe that the mobile phone number is / has been allotted to another person and / or there has been an unauthorised transaction in the Account(s) and / or my/our mobile phone handset is lost or stolen, I/we shall immediately inform HDFC Bank of the same.

  • I/We agree and acknowledge that HDFC Group shall not be liable if:

  • a) I/we have breached any of the terms and conditions, contained herein or
  • b) I/we have contributed to, or the loss is a result of failure on my/our part to advise HDFC Bank within a reasonable time about unauthorised access of or erroneous transactions in the account by use of SmartWealth; or
  • c) as a result of failure on my/our part to advise HDFC Bank of a change in or termination of my/our mobile phone numbers.

  • HDFC Bank shall endeavour to provide SmartWealth on a best effort basis and I/We  shall not hold HDFC Bank liable for nonavailability/non-function of SmartWealth or non-performance by service providers, if any, engaged by HDFC Bank or any loss or damage caused to me/us as a result of use of SmartWealth (including relying on the alerts for my/our commercial, investment or business purposes). 

  • HDFC Bank shall not be held responsible for the confidentiality, secrecy and security of the personal or Account(s) information being sent through SmartWealth to the extent external medium is used (like telephone network/ wireless network). I/We agree that the access to SmartWealth shall be only through the mobile phone number and any transaction which originates from the same, whether initiated by me/us or not, shall be deemed to have originated from me/us.

  •  I/We agree and acknowledge that illegal or improper use of SmartWealth shall render me/us liable for payment of financial charges as decided by HDFC Bank or will result in suspension of the SmartWealth for me/us.

  •  Notwithstanding anything in the contrary provided in the Terms and Conditions, HDFC Bank shall not be involved in or be in any way liable to me/us for any dispute between me/us and a cellular service provider or any third-party service provider (whether appointed by HDFC Bank for such purpose or otherwise).

  • I/We shall not interfere with or misuse in any manner whatsoever the SmartWealth and in the event of any damage due to improper or fraudulent use by me/us, I/we shall be liable for damages to HDFC Bank.

  • I/We agree and acknowledge that HDFC Bank shall not be responsible or liable for any processing or misuse of data on any third-party page including any social media platforms and the I/we will be sharing the data on such third-party page at my/our own risk. 

  • Part XXXII- Definitions 

  • “Account(s)” or “SmartWealth Account(s)” means the user account(s) opened or a user profile created by the customer on the SmartWealth to avail the services offered therein. 

  • “Affiliates” means any subsidiary, related corporation, parent company, office, representative office, associated company of HDFC Bank, and includes their respective successors and assigns. 

  • “Applicable Law” or “Applicable Laws” means to the extent applicable, all laws, rules, regulations, notices, circulars, codes and guidelines of any regulatory, supervisory, governmental, quasi-governmental, legislative or other authority or body or exchange or clearing house, in each case as supplemented and amended from time to time.

  • ‘Asset Management Company’ or ‘AMC’ means the asset management company whose mutual fund units are distributed by HDFC Bank to customers through SmartWealth.

  • “HDFC Group” means HDFC Bank, its group companies and its Affiliates. 

  • “RBI” means the Reserve Bank of India established under the Reserve Bank of India Act, 1934.

  • “Representatives” means the employees, officers, directors, representative, advisors, successors and assigns of HDFC Group. 

  • ‘SEBI’ means the Securities and Exchange Board of India.

  • “SmartJar” means the feature provided by SmartWealth to the customer to virtually organize his/her/their savings and investments for specific financial goals. 

  • “SmartWealth” means the digital online platform/ application/website offered by HDFC Bank to manage investments, savings, and financial objectives. 

  •  “Transactions” means the transactions effected by HDFC Bank in SmartWealth for or on behalf of the client pursuant to or in connection with Products and individually “Transaction”.

  • Part XXXIII-A- Interpretation 

  • Words denoting the singular will include the plural and vice versa. 

  • The headings in the T&Cs are inserted for convenience of reference only and are to be ignored in construing and interpreting the T&Cs;

  • a gender shall include references to the female, male and neutral genders.

  • Part XXXIV- Declaration, 
  • I/We have read and understood the Terms and Conditions (a copy of which is in my/our possession) and the Disclaimer applicable to SmartWealth Account(s). I/We agree to abide by the same. I/we undertake to inform, in writing, of any change in the particulars furnished above. I/We further agree that any false/misleading information given by me/us or suppression of any material fact will render my/our account liable for termination. I/We declare that any instruction given to you to transact business on my/our behalf shall be in due conformity with the Applicable Laws as may for the time being in force. I/We agree and declare that any and all tax liability will be my/our sole responsibility. I/We shall execute and deliver to HDFC Bank, from time to time such other documents as may be specified by the HDFC Bank for compliance or updating of records if any. I / We agree that the bank account linked to the SmartWealth Account(s) will not be closed till the time all my investment holdings are either redeemed or transferred to physical form method. I/We am/ are jointly and severally bound by the Terms and Conditions of the HDFC Bank's SmartWealth Account(s). I/We agree to pay the quarterly maintenance charges if applicable for SmartWealth Account(s).