Key Fact Statement of SBM MAGNET GILD Credit Card

GST is applicable on all fees, interest, and charges.

Late payment charges incurred on Non-Payment of Minimum Amount Due

Late Payment fee in on outstanding amount as per the statement

Illustration of Interest-Free period

The grace period is 45 days. The grace period can vary depending upon the date of purchase. However, if the Total Amount Due is not paid by the payment due date, then there will be no interest free period. For cash advances, interest is charged from the date of the transaction until the date of payment.

Illustrative Example for Interest-Free Period Calculation

(1) For a statement for the period 1st April to 30th April, the payment due date is 15th of May. Assuming you have paid your previous month's dues in full, the interest free period would be:(2) For the purchase dated 1st April, interest free grace period is from 1st April to 15th May = 45 days (3) For the purchase dated 26th April, interest free grace period is from 26th April to 15th May = 19 days (4) Grace period until bill payment : Payment due date + 3 days

a. Billing Statements:

Periodicity and mode of sending: All Card Member will be billed on a monthly basis for all charges incurred by the use of the Card and for all charges applicable to the Card account. In case the card was not used during the billing cycle, the billing statement will mention there were no spends in that month. The billing statement will be dispatched on a monthly basis to you by e-mail. In case of any help needed, you may call Bank’s helpline number at 1800-103-3817 or write/visit Bank at: SBM Bank (India) Ltd. 101, Raheja Centre First Floor, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra

b. Minimum Amount Payable

Without prejudice to the liability of the Card Member to immediately pay all charges incurred, the Card Member may exercise the option to pay only the Minimum Amount Due (MAD) indicated in the statement by the due date. The Minimum Amount Due shall be 5% of the outstanding amount. In case of any repayment through installments, the installment amount due during the statement period will be added to the Minimum Amount Due. If the total outstanding is more than the credit or cash limit, then the amount by which the credit or cash limit has been exceeded will also be included in the Minimum Amount Due. Minimum Amount Due shall also include unpaid Minimum Amount Due of the previous statements, if any. Interest will be charged if the Total Amount Due is not paid by the payment due date even if the Minimum Amount Due has been paid. If you spend Rs 5,000 and pay back exactly the Minimum Amount Due (subject to a minimum payment of Rs 100) every month, it will take you up to 6 years and 6 months to pay back the total amount. We therefore suggest that whenever your cash flows allow, pay back an amount substantially more than your Minimum Amount Due. No merchant refund/cashback/credit due to transactions converted to EMI / cancelled transactions / reversals / promotional cashback will be considered as a payment towards the outstanding of the Card. EMI transactions and cash transactions will not be eligible for Reward Points. Once a transaction has been converted into EMI, it will not be eligible for reward points even if it is reversed/written off at a later date. In case Card member makes an excess payment compared to the outstanding reversed/ written off on the Card, there will be credit balance in the Card account. This will be adjusted against the subsequent transactions on the Card. However, no interest can be claimed on this excess credit amount.

c. Method of payment

Payments towards the Card Account may be made in any of the following ways and Customers can login into SBM MAGNET GILD Credit Card net banking portal and make payments toward Credit Card outstanding using: - Net banking - UPI

d. Billing Disputes Resolution:

In the event of any dispute or grievance you may contact the Bank using the following modes: ● Call us 1800 1033 817. ● In case of any further escalation please visit us https://www.sbmbank.co.in/aboutus/grievance-redressal-mechanism.php ● Or write to us at SBM Bank (India) Ltd. 101, Raheja Centre First Floor, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra ● Or email us customercare@sbmbank.co.in ● Second level touch point: If you have not received a satisfactory response to your queries with other channels you may write to nodal.officer@sbmbank.co.in within 10 working days from initial response. In case of further escalation, you may write to principalnodalofficer@sbmbank.co.in within 7 working days from second level escalation.

CIC Reporting:

a. If Minimum Amount Due is not paid even 3 days after the payment due date, the Card will be reported as delinquent by the Bank to the Credit Information Companies (“CICs”), authorised by the RBI. b. Non-payment of Minimum Amount Due may also lead to discontinuation of the credit card services. c. The customer will be given a 7 day notice before reporting to CIC .