TERMS OF USE - TERM DEPOSITS

1. Nature of the Facility

1. 1.1 The Facility allows You to invest in Term Deposits offered by one or more banks regulated by the Reserve Bank of India (“Partner Banks”). All Term Deposits shown on the Platform are issued directly by the Partner Banks and made available through third-party banking correspondents who work with such banks.
2. 1.2 By using the Facility to invest in a Term Deposit through the Platform, you acknowledge and agree that:
3. • 1.2.1. You are placing a request to open a Term Deposit directly with the Partner Bank;
   • 1.2.2. The Term Deposit relationship is solely between You and the respective Partner Bank; and
   • 1.2.3. Zerodha is not a bank or a Non-Banking Financial Company (NBFC) and does not accept any deposits or handle any of your funds directly.

2. Terms Specified by Partner Banks

1. 2.1. The interest rate, tenure, minimum and maximum investment amounts, premature withdrawal provisions, penal interest (if any) and other features and documents relating to each Term Deposit are determined solely by the respective Partner Bank’s policies.
2. 2.2. You are advised to:
3. • 2.2.1. Carefully review the terms of the Term Deposit before proceeding with the investment through the Facility;
   • 2.2.2. Understand the conditions applicable to premature withdrawal, tax treatment, and interest computation as defined by the issuing Partner Bank.
   • 2.2.3. All product details are provided on an “as-is” basis, based on information received from the Partner Banks and/or their authorised representatives.

3. Investment Process

Upon confirming an investment through the Facility:

1. 3.1. You authorise Zerodha to securely share the necessary details (such as your name, PAN, bank account information, and KYC data) with the relevant Partner Bank and authorised third-party intermediaries solely for the purpose of processing your Term Deposit investment. You expressly consent to the sharing of your KYC information obtained under the SEBI KYC Registration Agency (KRA) for this purpose & relevant Aadhaar regulations
2. 3.2. Funds for the Term Deposit will be transferred through authorised payment channels directly to the Partner Bank. Zerodha does not collect or hold funds on your behalf for this purpose. For further details, please refer to Section 10. (Disclosures).

4. Premature Withdrawal and Maturity

1. 4.1. Any request for premature withdrawal, modification, or closure of a Term Deposit upon maturity must be raised directly with the issuing Partner Bank.
2. 4.2. The timelines, procedures, penalties, or other conditions applicable to such requests are governed solely by the terms of the Partner Bank and relevant regulatory requirements.
3. 4.3. Zerodha shall not be liable for any delay, rejection, or issue arising in connection with such requests.

5. Data Sharing and Confidentiality

1. 5.1. Zerodha may engage trusted third-party banking correspondents and regulated intermediaries to enable the display, processing, and servicing of the Facility on the Platform. Your personal and transactional information may be securely shared with such entities solely for the purpose of facilitating your Term Deposit investment.
2. 5.2. Such parties are required to:
3. • 5.2.1. Access your data strictly on a need-to-know basis;
   • 5.2.2. Maintain strict confidentiality; and
   • 5.2.3. Comply with applicable data protection laws, including the Digital Personal Data Protection Act, 2023.

6. Fees and Charges

1. 6.1. Zerodha does not levy any platform fee for accessing or investing in Term Deposits through the Facility.
2. 6.2. However, the issuing Partner Bank may charge fees as per its internal policies and applicable regulatory provisions. You are encouraged to review such charges, if any, prior to confirming your investment.

7. Limitation of Liability

To the fullest extent permitted under applicable law:

1. 7.1. Zerodha shall not be liable for any delay, disruption, loss, or error caused by the Partner Bank or any intermediary involved in the processing or servicing of the Term Deposits;
2. 7.2. Zerodha shall not be responsible for any technical issues, rejection, failure, or delay in investment confirmation, premature withdrawal, or maturity payout;
3. 7.3. All liabilities, rights, and obligations related to the Term Deposits and all the services related to this offering, whether offered via Zerodha’s platforms or not, rest solely with the issuing Partner Bank.

8. Grievance Redressal

1. 8.1. In case of any issues or queries relating to the Facility, You may write to [email protected]. Zerodha will make reasonable efforts to assist You and coordinate with the relevant parties, where applicable.
2. 8.2. Please note that Zerodha may not be able to resolve issues that fall under the Partner Bank’s purview or are controlled by the Partner Bank/its agents/service providers. For any requests or concerns relating to the Term Deposit, including but not limited to premature withdrawal, maturity proceeds, or service-related issues, You are advised to contact the respective Partner Bank’s customer support channel directly.

9. Modifications to Terms

1. 9.1. Zerodha reserves the right to amend, update, or modify these Terms at any time. Any such modifications will be published on the Platform.
2. 9.2. Your continued use of the Facility after publication of the modified Terms shall constitute Your acceptance of those changes.

10. Disclosures

1. 10.1. The Facility made available on the Platform involves third-party financial products issued by RBI-regulated Partner Banks. These are not Exchange-traded products, and Zerodha offers them in its sole capacity as a distributor.
2. 10.2. Any disputes arising from or in relation to such third-party products shall be resolved directly between You and the relevant Partner Bank. Please note that such disputes are not covered under SEBI's SCORES, Exchange investor grievance redressal mechanisms, ODR, or arbitration processes applicable to securities transactions.
3. 10.3. You are under no obligation to invest in Term Deposits or any other third-party products displayed on the Platform. Your participation is entirely voluntary, and no part of the Platform shall be construed as investment advice or a recommendation or coercion to invest.
4. 10.4. Zerodha is not a party to the agreement between You and the Partner Bank with respect to any Term Deposit and shall not enter into any tripartite arrangement guaranteeing performance or return. Zerodha does not provide any warranty regarding the quality, safety, suitability, or legality of the Term Deposit.
5. 10.5. All payments towards Term Deposit investments shall be done directly by You to the respective Partner Bank through authorised payment mechanisms made available on the Platform. At no point shall such funds be collected, routed, or held by Zerodha. Zerodha’s role is limited to displaying Term Deposit options and securely transmitting Your investment instructions and relevant KYC/payment details to the Partner Bank or its authorised intermediaries. This Facility is not offered under Zerodha’s SEBI registration.

11. Governing Law and Jurisdiction

1. 11.1. These Terms shall be governed by and construed in accordance with the laws of India.
2. 11.2. In the event of any dispute, difference, or claim arising out of or in connection with these Terms, the parties shall first attempt to resolve the matter amicably through mutual discussions and mediation, within 30 (thirty) days of such dispute being notified.
3. 11.3. If the dispute remains unresolved after the mediation period, it shall be referred to and finally resolved by arbitration in accordance with the Arbitration and Conciliation Act, 1996. The arbitration shall be conducted by a sole arbitrator mutually appointed by the parties. The seat and venue of arbitration shall be Bengaluru, Karnataka, and the language of arbitration shall be English.
4. 11.4. Subject to the above, the courts at Bengaluru, Karnataka shall have exclusive jurisdiction over any proceedings arising out of or in connection with these Terms.