Cashback on Debit Cards | IDFC FIRST Bank

Specific terms for Rs 25000 AMB Savings Accounts.

Definitions

• “Rs. 25000 AMB Account” means all new Savings Accounts and Platinum Corporate Salary Accounts opened under the category of Average Monthly Balance of Rs. 25,000 (which means all new accounts opened under Regular Savings, Senior Citizen Savings, Corporate Salary Platinum, Honour FIRST Platinum, Nation FIRST Platinum, Future FIRST, Honour FIRST Platinum Police, Honour FIRST Agniveer product).

• “Offer” means, the Offer of cashback of 2% subject to maximum cashback of Rs. 500 per calendar month (per account) on all debit card transactions without any minimum transaction value. Maximum cashback that a customer can earn during the Offer period is Rs. 1500 and this cashback shall only be available for the 90 days from date of opening of Rs. 25000 AMB Account. For e.g., for a Rs. 25000 AMB Account opened on 15th April, Cashback will be applicable for transactions done till 14^th July.

• “exclusions” mean, Wallet upload transactions, Debit Card based Fund Transfer transactions, Debit Card EMI transactions and cash transactions carried on at ATM or Micro ATM i.e. cash withdrawal using Debit Card and all wallet uploads, Quasi Cash transactions which are classified under Merchant Category Codes 6540, 6010, 6011 & 6012 as standard industry practice by card networks, or any other transactions decided by IDFC FIRST Bank as excluded from the Offer , from time to time.

Eligibility Criteria for the Offer:

1. Rs. 25000 AMB Account opened with IDFC FIRST Bank, on or after 6^th June 2023 till 31^st December 2023, shall be eligible for the Offer.

2. Only those Customer/s who have completed “Full KYC” status to the discretion of IDFC FIRST Bank, shall be eligible for the Offer and the eligibility shall start from the date of attaining “Full KYC Status” to the discretion of IDFC FIRST Bank. For example – An account opened on 26th April gets full KYC status on 5th May, period considered for the Offer of 2% Cashback will start from 5^th May and shall end after 90 days from 26^th April.

3. The transactions specified above as exclusions shall not be eligible for the Offer and Offer is a limited one, which shall cease at the discretion of IDFC FIRST Bank.

4. Offer is available only to Resident Indians and not to Non-Resident Indians.

5. Online transactions, spends on both E-commerce platforms/ Online merchants and POS (Offline merchants) transactions on Debit Card are also eligible for the Offer however, those transactions and purchases initiated by the Customer or on behalf of the Customer which have been cancelled, refunded, reversed or not successful for any reasons, will not be eligible for the Offer and in case, cashback is credited to Customer’s account, such cashback shall be reversed. In case of insufficient balance in the Customer’s account, lien will be marked by IDFC FIRST Bank to the extent of such cashback.

6. Subject to fulfilment of other eligibility criteria, Savings Accounts opened with Rs. 25,000 AMB and Platinum Corporate Salary Accounts that are upgraded to program banking i.e. First Select, Wealth or Private, will be eligible for the Offer in first 90 days from date of account opening (not from the date of upgrade).

7. Cashback as per the Offer is to be credited in Customer's account within 72 hours from the time of transaction. However, there may be delays further to this timeline for reasons beyond control of IDFC FIRST Bank.

8. The Cashback eligibility is regardless of number of debit cards held by the Customer in a single account, as the eligibility will be calculated based on transactions in the Account.

9. In case of any dispute on eligibility of the Customer to this Offer, decision by IDFC FIRST Bank shall be final and binding on the Customer.

10. Please refer illustrations given below, for more clarity on eligibility.

Illustration:

Account Opening date	15-May
KYC Completion date	28-May
Offer End date	13-Aug

Here, the transactions eligible for Cashback would be considered from KYC Completion date i.e, 28th May only.

Period wise cashback earned	Scenario 1	Scenario 2	Scenario 3
28 May - 31 May	Rs 500	Rs 300	0
1 June - 30 June	Rs 500	Rs 500	500
1 July - 31 July	Rs 500	Rs 500	500
1 Aug - 13 Aug	Cashback is not available (as Maximum Cashback of Rs. 1500 has been availed)	Cashback is available only up to Rs. 200	Cashback is available only up to Rs. 500

11. The Account shall be governed by standard terms and conditions of IDFC FIRST Bank, relating to respective Savings Account / Corporate Salary Account.