Online Savings Account

Terms and Condition

Standing instructions

Standing Instructions

  1. Any Standing Instruction given by the Customer with respect to the Account shall be subject to acceptance by the Bank. Further, execution of the same is at the discretion of the Bank. Notwithstanding any acceptance and or execution by the Bank, such instruction shall be at full risk and responsibility of the Customer. The Bank shall not be liable for any losses that may arise on the Customer pursuant to such instructions or by virtue of its execution.

  2. Further, the Customer agree to indemnify the Bank and hold the Bank harmless from and against all claims and demands that the Bank may receive from the beneficiary for non-execution or delay in execution of my/our above standing instructions either on account of non-availability of sufficient funds in my/our Account or delays in the mail/courier service or for any other reason whatsoever or for the Bank being unable to accept the standing instructions for any reason and from all costs, charges and expenses that the Bank may be put to incur in that behalf. The Bank shall be in no way responsible for non-execution or delay in execution of the standing instructions either on account of non-availability of sufficient funds in my/our Account or delays in the mail/courier services or for any other reason whatsoever or for the Bank being unable to accept the standing instructions for any reason.

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