Terms and Conditions

SVC Rewards Program


Date of Publication - 20th October, 2020

The following terms & conditions are effective from the date of publication as shown above and will be amended from time to time. Please ensure that you read these terms and conditions carefully before making any purchase or using our service. Doing so implies that you have accepted the terms of use.

1. Program Overview

The SVC Rewards Program (or “Program”) is a loyalty program powered by Nth Rewards (or “Sponsor”) through which customers having a valid SVC Co-operative Bank Ltd. (or “SVC Bank”) Internet Banking ID, may earn Reward points (or “Points”) that will be credited to their rewards account. Registered users can redeem their points through the product catalogue, e-vouchers or offers.

2. Privacy Practices / Data Security

Please review our Privacy Policy, which governs your visit to our nth rewards website and app to help you understand our practices better.

The personal information of customer shall not be disclosed to any third party, except as described in this policy.

3. User Eligibility

3.1 Only Saving Accounts are eligible for SVC Rewards Program.

3.2 Current Accounts, HUF, Institutions Accounts and Saving Accounts having Internet Banking Restrictions (namely, NRE, SVC Star /BSBDA/Small Savings Account/Accounts with Specific Mode of Operations as “All Jointly”, Illiterate Customer’s Account where Internet Banking is not provided, etc) will not be eligible for SVC Rewards Program.

4. Registration

As a Savings Account holder [other than exclusions as mentioned in point 3(b)] of SVC Bank, customer needs to sign up for Internet Banking Services. Visit our website https://netbanking.svcbank.co.in/PIB/DefaultPages/Login.aspx to register yourself and start earning/accumulating points today!

5. Program Access

5.1 Access through Internet Banking

  • SVC rewards can be accessed by logging into Internet Banking.
  • “Rewards” tab will be visible in the menu displayed on Left Side post Login.

5.2 Access through SVC Rewards Website

  • Programme can also be accessed through SVC Rewards Website i.e. https://rewards.svcbank.com
  • Website will prompt customers to login in order to View/Redeem Rewards. Customers to use their Internet Banking credentials to Login to SVC Rewards.

5.3 SVC Rewards members will benefit from special offers, promotions and privileges which may be provided by SVC Bank and their partners from time to time. Membership is subject to the program eligibility criteria and conditions (including annual points accrual limits) as determined by SVC Bank. SVC Bank reserves the right, at any time and without notice, to impose a validity period on membership.

5.4 Membership in SVC Rewards program is non-transferable.

5.5 Accounts are identified by the Customer Account Number as established by the customer records maintained in SVC Bank’s Internet Banking Facility.

5.6 SVC Bank reserves the right to withdraw/ discontinue any individual’s membership in SVC Rewards program and revoke any accrued points.

5.7 Membership in SVC Rewards program is automatically terminated upon closure of account, death or bankruptcy of the primary SVC Rewards relationship-holder.

6. Program Construct and Points

6.1 SVC Bank shall determine, from time to time, at its discretion, which SVC Rewards relationships or which SVC Bank Card/Bank transactions are eligible for inclusion/exclusion in the SVC Rewards program and how many Reward points to be earned and on what basis.

6.2 SVC Bank will also determine from time to time the number of SVC Reward points required for redemption of any reward. A member must be a customer in good standing, having earned a minimum number of SVC Rewards points (currently 1000 points) to be eligible for first time redemption. No minimum reward points required in subsequent redemptions.

6.3 SVC Reward points may be earned only as per the terms determined by SVC Bank. More specifically, during a promotion, special offer, cash-back or black-out period, SVC Bank may decide to disallow the earning of SVC Reward points on already discounted transactions.

6.4 Points are calculated by rounding down the transaction value to the nearest integer and as per the criteria set for each SVC Bank product. For example, if the transaction value is Rs. 378 it will be rounded down to the nearest integer Rs. 300 for purpose of calculating points.

6.5 SVC reward Points are not assignable and cannot be pledged.

6.6 Upon expiration, unused SVC Reward points will be removed from the SVC Reward account as of the expiration date and cannot be re-credited. It is the SVC Bank account holder's responsibility to be aware of both the number of SVC Reward points in his/her account and their expiration date.

7. Usage

You may use the SVC Rewards Program for personal purpose only not for any business, commercial or other use. We are authorized to act on all instructions received by another customer using your account and are not responsible for any transaction made without your authorization. We also reserve the right to terminate/delete any account without notice at our sole and absolute discretion at any time.

8. Breach of Terms and Conditions

8.1 In the event of a breach by an SVC Rewards relationship-holder of these terms & conditions or of any applicable provisions in any policy incorporated by reference herein, or in the event of failure on part of an SVC Rewards relationship-holder to pay for any outstanding / dues within the prescribed time set by SVC Bank or for any other reason whatsoever, SVC Bank reserves the right, at its discretion, to:

  • Terminate and close the SVC Rewards membership in the Program
  • Refuse to award SVC Reward Points
  • Withdraw SVC Reward Points; and/or
  • Refuse to redeem SVC Reward Points

8.2 Such suspension and disqualification of SVC Reward points relationship-holder may result, at SVC Banks discretion, in the forfeiture of all of the accrued SVC Reward points in the relationship-holders account.

9. Acceptance

By agreeing with our terms and conditions, you accept that we may transfer your personal data, or the personal data of others on whose behalf you are transacting, for the purposes of facilitating a transaction and providing sales support for a transaction. You consent to receive transactional, commercial and marketing communications both related to the SVC Rewards Program specifically, and to our other products and services generally (including products or services related to us).

10. Earning SVC Reward Points

10.1 The SVC Rewards customers can earn Points through a transaction using SVC Bank’s Digital Banking Channels (Internet Banking, Debit Card, UPI, etc) for the purchase of goods or services paid by debit card, online payment, standing instruction or any other means of payment.

10.2 Another way the customers can earn SVC Reward Points is through non-transactional activities which include goodwill points as well as bonus points. Bonus points would be communicated from time to time through rewards.svcbank.com or through any other means of communication as decided by SVC Bank from time to time.

10.3 It is the responsibility of all the SVC Rewards customers to ensure that electronic data collection generated transaction slip is accurate to check all the transactions done with partners that enable them to earn points. Cash transactions ( part or in full ) will not be considered for rewards.

11. Partners’ Rights

The SVC Rewards partners may change any of the terms and conditions of their business at any time without giving any notice to the customer. It is not the responsibility of the SVC rewards program to inform the customers of any such changes. SVC Rewards has no liability for the acts and omissions of their partners.

12. Points Calculation

12.1 The points earned through transactions will be credited to the user’s account instantly or within 45 working days.

12.2 Users will not be awarded points in fractions, as points are accrued as whole. Points are valid only for a particular period and the member shall not be entitled to redeem any of such lapsed points.

12.3 No SVC Reward points in one member’s account can be pooled with SVC Reward points in another member’s account.

12.4 Customers can call SVC rewards customer support number or visit the website and go the “order history” page to get a summary of their recent transaction or detailed point balance.

12.5 SVC Rewards is only loyalty value added service hence, accumulation of reward points is not in the form of consideration.

13. Points Redemption

13.1 SVC Reward Points can either be redeemed at products catalogue or at any of the SVC rewards network partners by any SVC customers after providing all the required credentials.

13.2 Customers can redeem points and pay the remaining amount by card while they make the purchase of any goods or services at www.rewards.svcbank.com

13.3 All products and services in the Product Catalogue are subject to availability and seller (s) warranties and conditions at the time of purchase. In case of any defective product SVC Bank will not be responsible and not liable to indemnify any loss caused due to the quality of product.

13.4 Whenever deemed necessary, SVC Bank may, without notice, cancel the SVC Rewards order or substitute the reward with another, of comparable nature and value, as determined by SVC Bank.

13.5 SVC Bank reserves the right to introduce new products and replace the existing ones at any point in time without prior intimation to the member.

13.6 Additional terms & conditions for each reward shall be set forth in the gift vouchers issued to the member, if the customer has opted for redemption of points by gift vouchers.

13.7 Only customers having active SVC Rewards relationships can request for redemption of points.

13.8 The points cannot be exchanged for cash or credit or be used to obtain cash advances or be used against payment for any charges incurred in the SVC Rewards relationship.

13.9 Redeemed rewards are not exchangeable for other rewards or refundable, replaceable or transferable for cash or credit under any circumstances, nor can these be re-converted back to SVC reward points.

13.10 SVC Bank makes no warranties or representations either expressed or implied, with regard to the type, quality or fitness of the gifts provided through the SVC Rewards program. Gifts will be accompanied by warranty information wherever applicable from the manufacturer and claims must be settled directly with the manufacturers.

13.11 Any additional costs incurred in connection with redemption of any reward shall be the sole responsibility of the member.

13.12 Issuance of a redemption certificate for dining, travel or hotel accommodation does not constitute a reservation. The member is responsible for making all reservations and notifying the participating merchant establishments of the reward(s) he/she is going to redeem.

13.13 SVC Bank shall in no event be responsible or liable for the product and/or services redeemed from the SVC Reward points, in any manner whatsoever including but not limited to any defect or deficiency in, or in respect to any claim arising out of non-use or use of the points, or in usage of redemption certificate for dining, travel or hotel accommodation or in usage, durability of any product/service acquired by redemption of points.

13.14 Availability of stock and pricing for any reward in the SVC Rewards catalogue is subject to change. In case of failure to redeem owing to a technical or network issue, SVC Bank will not be liable for said change in the availability of stock or pricing in the interim period.

14. Warranty/ Guarantee

14.1 It is the sole responsibility of the seller(s) to maintain warranties and guarantees on the SVC Rewards. The SVC Rewards program is not responsible for any defect or deficiency in the platform, whatsoever.

14.2 Customers can either contact the respective Seller(s) / Manufacturer (in case of manufacturer warranty) in the event of any defect or deficiency of the product. 11.3 Gift vouchers/vouchers will always come with a validity period. No seller or issuer of gift vouchers will be responsible for vouchers that were not used under the expiry dates mentioned. Vouchers cannot be revalidated in any situation. The SVC Bank will not be responsible if the seller refuse to encash the voucher or do not encash the voucher due to any reason.

15. Refund Policy

15.1 In case of refunds, the SVC Reward points consumed for the specific order would be reversed back to the account.

15.2 Refund shall be subject to SVC Rewards member complying with Policies.

15.3 Refunds for any cancelled/ returned orders would be processed within 7 working days.

16. Return Policy

If any goods or products delivered to the customer are found damaged, defective or different from what was ordered, it can be returned as per the return policy of the seller/manufacturer.

16.1 Customers can log their complaint on the website or call customer support, within 7 days from the date of delivery.

17. General

17.1 Fraud and/or abuse relating to earning and redemption of SVC Reward points in the program shall result in forfeiture of the SVC Reward points as well as termination and cancellation of the SVC rewards membership.

17.2 Information supplied by a member on redemption of rewards may be used by SVC Bank for administrative and/or marketing purposes, without procuring any permission, written or otherwise, from the member.

17.3 All communication related to SVC Rewards will be sent on the email ID registered on the SVC rewards website only.

17.4 By giving us the registered email ID, the member provides SVC Bank the permission to send communication and promotional offers related to the SVC Rewards program on the registered email ID. Please note: The registered email ID for the SVC rewards program may or may not be the registered email ID with SVC Bank. The SVC Rewards registered email ID will not be updated on the SVC Bank records.

17.5 Any taxes or other liabilities or charges payable to the Government or any other authority/ body or any other participating merchant establishment which may arise or accrue to a member on redemption of SVC Rewards points as aforesaid or otherwise shall be the sole responsibility of the member.

17.6 SVC Rewards program acts in good faith in response to any oral or electronic instruction or inquiry by the member in respect of any matter in relation to this program and the fulfilment of any reward, the member shall not be entitled to claim or allege any loss, damage, liability, expense, etc. attributable, directly or indirectly, to any such good faith action of SVC Bank and the member shall indemnify and hold SVC Bank fully harmless in respect thereof.

17.7 SVC Rewards makes no representation and provides no warranty whatsoever, expressed or implied and undertakes and assumes no liability whatsoever, in respect of the quality or merchantability of any reward or the suitability or fitness thereof for any use or purpose. All SVC Rewards shall be accepted by the SVC Rewards relationship holder at his/her own risk.

17.8 SVC Bank is not responsible for disputes involving SVC Rewards points, rewards or any other aspect of this program between joint signers of the account. Any personal liability arising out of the receipt or use of the program, or the SVC rewards relationship is solely the member’s responsibility.

17.9 SVC Rewards program is subject to applicable law and regulations and would be modified / discontinued based on the prevailing law / regulation at any point of time and neither party shall be under any liability or obligation or continue the program till such time the terms are modified by the bank as per the prevailing/ amended law at that point of time. In the event, that the program cannot be continued without total compliance of the prevailing law at any point of time, program shall be deemed to be discontinued forthwith from the date when the amended law restricting / prohibiting the program comes into force.