1. I/We hereby declare that the particulars given are correct and complete.
2. I/We authorize the mentioned bank to debit my/our account if my/our auto debit e-mandate is active and until I/we give a written request for cancellation of the auto debit e-mandate.
3. I/We undertake to keep sufficient funds in the account mentioned in the e-mandate as on the date of execution of the debit.
4. I/We hereby authorize the Bank/Tech Process Solutions Ltd/Bill desk/any other intermediaries to communicate my/our funding account number and any other account details (as may be necessary) to HDFC Life Insurance Company Limited (HDFC Life) for the specific purpose of recovering my/our HDFC Life loan-against-policy payments through a debit instruction to my/our account.
5. I/We hereby authorize HDFC Life, in the instance of the auto debit failing for any reason, to authorize the Bank/Tech Process Solutions Ltd/Bill Desk/any other intermediary to re-attempt the auto debit from my/our account with the mentioned bank to recover the EMI payable.
6. The e-Mandate on the loan will remain active for one year after the loan end date unless the loan is settled or the instruction is revoked.
7. The EMI will be debited starting from the first EMI due date, which occurs after the date of this e-mandate, till the loan is fully repaid unless the instruction is revoked.
8. The e-Mandate would be registered for 1.1 times of EMI amount. Higher amount will be registered to accommodate any increase in EMIs due to changes in outstanding amount, interest rates or as per product specification.
9. Debit frequency will be tagged as and when presented.
10. If the transaction is delayed or not effected at all for reasons of incomplete or incorrect information, I/we will not hold HDFC Life or the other intermediaries responsible.
11. I/We hereby authorize HDFC Life to debit my account with the amount of taxes and other levies (if any) as may be stipulated by the government from time to time on the EMI amount. This purpose, no further or revised authority is required by HDFC Life.
12. I/We wish to avail the e-mandate facility and hereby express my/our unconditional consent to debit the EMI amount above through participation in direct debit.
13. I/We understand and accept that the transaction will be effected on the loan on the due date. I/We agree to discharge the responsibility expected of me/us as policyholder(s) under the loan. I/We take full responsibility for the correctness of the details filled herein.
14. I/We understand and agree that submission of this form does not mean that the request will be processed.
15. I/We agree that in the event of any violation by me/us of any undertaking confirmed herein, HDFC Life shall be entitled to invoke remedies available to it in terms of the policy document.
16. I/We agree that in the event of the Bank being unable to debit my/our account for want of sufficient funds or for any other reason, HDFC Life shall be entitled to deal with my/our policy in the manner as described in the policy provisions, unless the payment is received by any alternate mode on or before the specified date.
17. In case, an auto debit request is given within 02 days of the current EMI due date, the amount for the current EMI due will need to be paid through an alternate mode, subject to realisation of all last EMI payments.
18. I authorize the Company to deduct all the EMI’s along with late payment interest for the purpose of regularizing the loan.
19. I understand and agree that the e-mandate facility being availed by me shall also be subject to the terms and conditions of the insurance policy against which the loan is being availed and HDFC Life’s terms and conditions for loan against policy.