MOST IMPORTANT TERMS AND CONDITIONS

The Most Important Terms and Conditions (MITC) are to be read and understood in conjunction
with the Paytm First Card Member Terms and Conditions (Card Member T&Cs) as communicated
on www.citibank.com/india .The Paytm First card is issued by Citibank, N.A. India.

1. Fees and Charges

a. Schedule of Charges:

Description of charges Paytm First Card

Annual fees An annual fee of ₹500 is charged at the end of the

membership year. This fee is waived off on spends of
Rs.50,000 or more on your Card in a membership year.
Cash advance fees 2.5% on the billed amount withdrawn*, subject to a minimum
of `500.
Late payment charges  NIL for statement balance up to `1000
 `450 for statement balance above `1000 and up to `5000
 `700 for statement balance above`5000 and up to `10000
 `950 for statement balance above `10000.
Over credit limit charge 2.5% of the amount (excluding fees, charges and taxes) over
the credit limit, subject to a minimum of `500.
Cheque / ECS / ACH bounce `500 per returned Cheque / ECS / ACH.
charge
Fuel transaction charge 1% of the transaction amount, subject to a minimum of `10^.
Waived at Indian Oil Corporation outlets for transactions on
Citi EDCs (electronic data capture terminals).
Railway ticket booking 1.8% of the transaction value^.
surcharge
Statement Request `100
(beyond 3 months)
Reissue of lost, stolen or `100
damaged card
Outstation Cheque  Upto `10000 - `50 per cheque
Charge (based on the  `10001 to `100000 - `100 per cheque
value of the cheque)  Above `100001 - `150 per cheque
Foreign currency transactions* For international transactions in US Dollars, 3.5% mark-up on
the INR equivalent of the US Dollars, at the conversion rates
published by the card networks.

For international transactions effected in currencies other

than the US Dollar, the transaction would first be converted
into US Dollars, at the conversion rates published by the card
networks. On the US Dollars amount, 3.5% mark-up would be
levied on the INR equivalent of the US Dollars, at the
conversion rates published by the card networks.

Foreign currency transactions will be billed in Indian Rupees,

using exchange rates published by Card networks, as of the
date of settlement of transaction and not on the date of the

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 transaction. The billed amount will include the INR equivalent
transaction amount, mark-up levied by Citibank and
applicable Goods and Services Tax (GST).
Cash deposit at Citi branches `250 per deposit
Cash deposit at Citi ATMs `100 per deposit

*International cash withdrawal amount billed post conversion to INR via DCC viz dynamic currency
conversion (i.e. a service offered at certain international ATMs which allows a Card Member to
convert a transaction denominated in a foreign currency to local currency i.e. Indian Rupees at the
point of withdrawal/sale) may include any fees / charges levied by the ATM acquiring bank or ATM
service provider.

^The Fuel transaction surcharge and Railway ticket booking surcharge are indicative only. These
surcharges are levied by the acquirer (merchant’s bank providing terminal / payment gateway).

Goods and Services Tax (GST) at rates as notified by the Government of India is applicable on all
fees, interest and other charges and is subject to change.

b. Finance Charges
i. Interest will be charged if the Card Member does not pay back the previous bill in full, by the
payment due date (as per the card statement), and on cash advances from the day of advance.
Interest is charged from the date of transaction until the date of full settlement of the dues.
ii. If this is the first Citi credit card of the Card Member, with the exception of Citi Ultima, then the
initial rate of interest on the card is 3.25% per month (i.e. 39.0% annualized). This rate is
dynamic and is subject to periodic reviews by the bank on various Card Member performance
parameters, such as spends, utilization on the card(s), repayment patterns, default (non-receipt
of payment) and the credit bureau feedback related to lending products issued to the Card
Member.
iii. The interest rate can vary between 3.10% per month (i.e. 37.20% annualized) and 3.40% per
month (i.e. 40.80% annualized), provided the account continues to be in good standing and all
credit card bills are paid on time (at least the Minimum Amount Due). In case of default, i.e., if
the Card Member does not pay the Minimum Amount Due as per the last credit card statement
by the Payment Due Date, the interest rate can increase up to 3.50% per month (i.e. 42.00%
annualized), and will apply till the time the account is regularized plus 3 months after that.
iv. If the Card Member has more than one dynamic interest rate credit card, i.e. any card other than
Ultima, then interest rate applicable on the new card(second card) will be same as the existing
card (first card), irrespective of the type of card that the Card Member chooses as 2nd card.
v. If the Card Member is using revolving credit facility, the closing balance as per the previous
statement will accrue interest till the date of full payment of the total amount due, inclusive of
any billed EMIs for loans on credit card.
vi. In the event the Card or loan is closed by the customer, prior to all the installments being
charged, the loan principal outstanding, interest accrued till the date of such closure of loan
along with the pre-closure charges shall be debited to the Card a ccount and appear in the
monthly statement. As a part of the Credit Card Account, this balance will now attract all the
charges including finance charges at the credit card rate of interest which ranges between
3.10% per month (i.e. 37.20% annualized) and 3.50% per month (i.e. 42% annualized). Citibank
shall be entitled to demand immediate repayment of such outstanding amounts.

Illustrative example for interest calculation:

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Assuming, that a Card Member has paid only partially for the February outstanding, and the
statement is generated on 17th March for `5000 (including interest from the date of transaction).
Card Member makes a payment of `2000 on 25th March, and a purchase for `1000 on 30th March.
No further payment is made on the card till 17th April (i.e. next statement date). Assuming an
interest rate of 39.00% per annum on the Card, interest will be levied as follows:

Balance (`) Period No. of days Calculation Interest (`)

5000 18 – 24 Mar 7 39.00*7/365*5000/100 37.40
3000 25 – 29 Mar 5 39.00*5/365*3000/100 16.03
4000 30 Mar – 17 Apr 19 39.00*19/365*4000/100 81.21
Interest charged 134.64

NOTE: If a Card Member spends Rs.5000/- and pays back exactly the minimum amount due every
month, then it may result in repayment stretching up to 9 years with consequent interest payment
on the outstanding amount. Therefore, a Card Member should,whenever possible, pay back
substantially more than the minimum due. This will also help to free up the spending limit and
improve credit rating.

c. Late payment charges

Late payment charges will be applicable if the Minimum Amount Due on the card is unpaid for more
than 3 days from the Payment Due Date. Late payment charges are levied based on the total
amount due on the card as of the previous statement.

d. Payment due date (PDD)

The payment due date can vary between 17 and 23 days from the statement date depending on the
outstanding dues repayment history. This period is at the discretion of the Bank and may change.
For example, if the statement period is from 16th May to 15th June, the payment due date can vary
from 2nd July to 8th July.

e. Interest free (Grace) period

Interest free (grace) period depends on the date of the transaction and the statement date, as
illustrated below:

Illustrative example for interest free credit period:

For the example given in the PDD section, assuming that the payment due date falls on 2nd July,
and if the previous month's dues have been paid in full, the grace period would be:
- For a purchase dated 16 May, interest free grace period would be 16th May to 2nd July = 47 days.
- For a purchase dated 15th June, interest free grace period is 15th June to 2nd July = 17 days.

If a part payment is made, there would be no interest free period and interest charges would be
applicable (including on fresh purchases, if any) using average daily balance method.

2. Limits
The Credit limit and Cash withdrawal limit are communicated to the Card Member at the time of
delivery of the card and also in the monthly statements. ‘Available Credit Limit’ or ‘available Cash
Limit’ is the limit up to which a Card Member can make purchases or withdraw cash from an ATM,
respectively. The Cash limit is included within the overall Credit limit assigned.

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3. Billing
a. Statement: Card Member will be sent a monthly statement showing payments, transactions and
charges, if any, for the month, provided the card has been used during the said period. The
statement would be dispatched by physical mail or email to the mailing address as per bank’s
records.

b. Minimum Amount Due (MAD): The monthly payment should cover at least the MAD. Any
unpaid MAD from the previous statements will also be added to the current MAD to arrive at the
MAD payable in the current statement.
The MAD will be higher of the following, subject to a minimum of `100:
i. the sum of all installments, the amount utilized over the credit limit (if any) and 5% of remaining
balance outstanding, OR
ii. the sum of all installments, transaction fees for loans / EMI facilities linked to credit card ,
interest / other bank charges (excluding annual fee / insurance / foreign currency mark-up), the
amount utilized over the credit limit (if any) and 1% of remaining balance outstanding.

If the Total Amount Due (TAD) is less than ` 100, the MAD would be equal to TAD.

c. Payments received against the Card will be adjusted against the various categories in the
following order: taxes, fees, other charges, interest charges, insurance charges and principal.
Within a category, the payment will be adjusted in the following order: loan above card limit, other
EMI plans, cash-withdrawals and retail purchases. Billed outstanding dues will be prioritized over
unbilled outstanding dues for payment application; with the order of payment application remaining
same as above. For payments exceeding billed outstanding dues, the application will be done on
unbilled transactions posted in the card account till the date of payment application.

d. Methods of payments: Payments towards the card account may be made in any of the
following ways:
i. Online: Payment from a Citibank account can be made using the Citibank website, Citibank
Mobile App or Citibank Interactive Voice Response (IVR). Online payment from non-Citibank
banking account can also be made using Epay option on the Citibank website.
ii. Standing Instruction: Standing instruction for TAD or MAD from a Citibank account.
iii. ECS / NACH : Standing instruction for TAD or MAD from a non-Citi bank account.
iv. NEFT: Online payment from a non-Citibank banking account using IFSC code CITI0000003 and
Chennai as branch address.
v. Cheque / Demand draft: drawn in favour of the 16 digit Paytm First card number i.e. “Citibank
Card XXXXXXXXXXXXXXXX”. The cheque / DD can be dropped in the drop boxes at Citibank
ATMs.

e. Billing disputes:
In the event of a billing dispute, Card Member must inform Citibank within 30 days of receipt of the
statement and not later than 60 days from the date of transaction. For billing disputes, Bank will
investigate and confirm the liability for such transactions. For certain disputes the Bank may, at its
discretion, give a temporary credit during the period of investigation, which may be reversed subject
to outcome of investigation.

f. Contact details:
Card Member can contact Citibank in any of the following ways:
i. Call us on the 24X7 CitiPhone helpline. Please refer to the ‘Contact Us’ tab on the Citi home
page www.citibank.com/india

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ii. Login to www.citibank.con/india using IPIN (Internet password), click on the ‘Your Queries’
link to send us the query.
iii. Citibank, N.A. Mail Room, Acropolis, 9th Floor, No. 148, Dr Radhakrishnan Salai, Mylapore,
Chennai – 600 004

g. Grievance redressal:
If you are not satisfied with the response received from access channels- Citiphone/ Your query in
CBOL, you may escalate your concern to the Head Customer Care in the following ways: Send an
Email to [email protected] or call the bank @ 1800 425 2484 (toll free) or at 022-
49552425 (local dialing) between 10:00 am and 6:00 pm (Monday to Saturday)
For any further escalation, you can reach our Principal Nodal Officer Mr. M Dhananjayan to
examine issues and provide an impartial resolution, you may escalate to him by sending an email
@ [email protected] or call him @ 18002662400 (toll free)/ 02249552400 (local
dialing) between 10:00 AM and 6:00 PM Monday to Saturday.

In an event that the Card Member does not receive any response within one month from the date of
complaint lodged at the above mentioned channels, or if the Card Member is dissatisfied with the
response given, he/she may write to the Banking Ombudsman for an independent review. Further
details are available on the Grievance Redressal webpage on www.citibank.com/india on the
Banking Ombudsman scheme.

4. Default and Circumstances

If the Card Member does not pay at least the MAD by the payment due date plus 3 days, the card
will be reported as delinquent in the monthly submissions to the Credit Information Companies
(CICs), authorized by the Reserve Bank of India (RBI). Non-payment of at least the MAD may lead
to discontinuation of the credit card services. If any dues or outstanding payable by the Card
Member to the Bank hereunder remains due and payable, the Card Member shall be reported to
the Reserve Bank of India or any other authority, as required under the applicable regulations/laws.
If requisite payment is made, the record will be updated as ‘current’ in the subsequent monthly
refresh to the CICs.

If the payment is overdue, the Card Member may be contacted through visits, post, fax, telephone,
e-mail, SMS messaging and / or by engaging third parties to remind, follow up and collect dues.
Bank’s customer assistance specialists, engaged through the authorized agencies may contact the
Card Member to remind on the outstanding dues. The complete list of authorized agencies is
available on www.citibank.com/india. If the Bank is unable to contact the Card Member, a message
may be left with third parties such as spouse / parent / other direct adult family member / secretary /
accountant) available at the residence / office / phone.

Citibank may at any time combine and consolidate any of the Card Member’s accounts and any
other facilities availed by the Card Member, including any outstanding dues with respect to credit
cards held with the Bank. Bank shall be authorized to set-off, adjust or transfer any sums standing
to the credit of any of such accounts in or towards satisfaction of any of the liabilities of the Card
Member to the Bank on any account or in any other respect.

In case of deceased/ permanently incapacitated Card Member, the Bank will request the
heirs/executors/administrators/family members to repay the dues.

Card Member may visit www.citibank.com/india or call at the CitiPhone helpline for information on
insurance covers available with Citibank.

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5. Termination / revocation of the Card membership
i. A Card Member may terminate the Card membership with Citibank at any time by writing to the
Bank or by calling the CitiPhone helpline. The entire card outstanding dues and loans / EMI
facilities linked to credit card (if availed) will immediately become due.
ii. Citibank may also cancel the use of the card at any time without prior notice, if it considers it
necessary for business or security reasons, which may include but not limited to delay in
payments, returned cheque, improper use of credit card (for Foreign Exchange trading,
business use, etc.), misleading or incorrect information/documents given along with card
application or otherwise, failure to furnish information or documents as required by relevant
laws/regulations (including identification documents) as may be required under the Bank’s/
RBI’s Know Your Customer (KYC)/ Anti Money Laundering (AML)/ Combating of Financing
Terrorism (CFT) guidelines, if the Card Member is involved in any civil litigation or criminal
offence / proceedings by any authority, court of law or professional body or association, etc. For
details on card termination/cancellation, please refer to ‘Events of Default’ in the Card Member
Terms & Conditions given on www.citibank.com/india. The Card Member may continue to
receive monthly statements, reflecting the actual outstanding, even after closure of the card
account.

6. Loss / Theft / Misuse of the Card

i. In case the card is lost, stolen, misplaced, or if someone else knows the PIN or other security
information the Card Member should contact Citibank immediately by calling 24-hour CitiPhone
at 1800 267 2425. Card Member must report the theft of the Card(s) to the Police and lodge an
FIR.
ii. Card Member will not be liable for any misuse on a card or PIN after informing Citibank of the
loss, unless the Card Member has acted with gross negligence.
iii. Card Member will be liable for all losses owing to any misuse that happened with his/her
consent or knowledge or prior to intimation to Bank about loss of card.
iv. The card cannot be used for any purpose prohibited by regulations or applicable law.

7. DISCLOSURE
i. Citibank has tied up with Credit Information Companies (CICs) authorized by the RBI and will
share credit information including but not limited to the current balance, loans / EMI facilities
linked to credit card (if availed), balance outstanding on credit card/ loan, payment history etc.
along with the demographic details with these organizations on a monthly basis, as per the
Credit Information Companies (Regulation) Act, 2005. The CICs only provide factual credit
information and do not provide any opinion, indication or comment pertaining to whether credit
should or should not be granted. It is in the best interest of Card Member to maintain a good
credit history by paying the necessary dues in a timely manner. Details of default would also be
available with the CICs, which in turn could impact the credit worthiness of Card Members.
ii. Citibank reserves its right to report a delinquent customer to the CICs even in an instance of
Card Member raising a billing dispute which the Bank had clarified as an invalid dispute earlier
or the dispute being raised by Card Member after the cut-off date, as defined by the Bank,
and/or the dispute is in relation to secured transactions where a PIN or a One Time Password
was used.
iii. Citibank will provide the particulars of the card account to the statutory authorities, as may be
required. If the Card Member has availed a co-brand/white label card, offered by Citibank and
its partner, the necessary information including but not limited to that which is required for
execution of the rewards programs, portfolio statistical analysis, etc. will be provided to the co-
brand/white label card partner.
iv. Transaction alerts received may not be assumed as a confirmation of transaction completion.

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If the Card Member does not wish to receive any direct marketing or telecalling / telesales calls from
Citibank for other products, the Card Member may call 24-Hour CitiPhone and inform the Bank.
Alternatively, Card Member could log on to the Bank’s website and register for the 'Do Not Disturb’
service. The Card Member will continue to receive communication pertaining to the core features of
the credit card.

A soft copy of this MITC document, Card Member Terms and Conditions, relevant credit card
guidelines and local regulations are available on www.citibank.com/india.

Important Regulatory information

i. The Credit Card is valid for use both in India as well as abroad. It is, however, not valid for
making foreign currency transactions in Nepal and Bhutan.
ii. Foreign exchange trading through internet trading portals is not permitted. In the event
of any violations or failure to comply, Card Member may be liable for penal action and /or
closure of card.
iii. Citibank is a member of the Banking Codes & Standards Board of India (BCSBI). Details of the
BCSBI code is available on our website www.citibank.com/india.

All Information in this communication is correct at the time of printing/publishing (Version: GCG/PFC
-MITC/ 05-19).