For millions of Indian public servants, Postal Life Insurance (PLI) is a priceless source of financial security. When PLI was established in 1884, it was catering to workers of the Postal Department. With time, personnel from other federal, state, and military agencies have joined it. Among the most well-known and long-standing insurance plans in the country, PLI is still dedicated to maintaining its reputation for providing customers with reliable insurance coverage and investment options.
Also read: What is Insurance? Your Guide to Understanding Insurance in India
Key Highlights:
Understanding PLI: We explore the basics - what PLI is, its history, and who it caters to. PLI post office interest rate is a crucial aspect to consider when exploring this insurance option.Types of PLI Policies: Dive into the various PLI plans available, each with its unique features and benefits. Understanding PLI interest rate in post office policies helps in comparing and choosing the most suitable plan.
Benefits of PLI: Discover the advantages of PLI, including tax exemptions, flexibility, loan options, and high potential returns. Knowing about post office PLI interest rates can help assess the overall benefits of these policies.
PLI vs. LIC: We compare PLI with another leading insurance provider, LIC, highlighting key differences to help you choose the best fit. Understanding the PLI post office interest rate in comparison to LIC's rates can be crucial in making an informed decision.
PLI Loan Details: Learn about the loan facility offered by PLI, including eligibility, PLI interest rate in post office, and the application process. Understanding the PLI interest rate in the post office is essential when considering taking a loan against your policy.
FAQs: Get answers to frequently asked questions about PLI interest rates in the post office, loan repayments, and more. Questions regarding post office PLI interest rates are common among policyholders and potential investors.
What is a Postal Life Insurance (PLI)?
A government-run life insurance program, Postal Life Insurance (PLI), was established in 1884 to meet the insurance requirements of professionals, government employees, and semi-government employees. It is one of India's oldest insurance plans. PLI was first created to protect postal department employees, but over time, it also included employees from other government departments, bringing its advantages to a wider range of people.PLI offers a choice of policies made to meet the different needs of its customers. Through their dual functions as investment vehicles and life insurance, these plans enable policyholders to build money over time.
The capacity of PLI to enable policyholders to take out loans against the guaranteed sum makes it unique. Considering the PLI loan interest and post office PLI loan interest, this feature allows policyholders to access cash in times of financial difficulty in order to meet urgent demands by using a portion of the insured amount.
The way that the interest rate on post office postal life insurance is set is one important issue that needs to be taken into account as we continue our investigation of PLI. Interest rates—including the post office PLI interest rate—have a big impact on the profits policyholders get on their investments. Furthermore, crucial is knowing the PLI loan interest and how it influences the general financial dynamics. If you are thinking of borrowing against the guaranteed amount of the policy, you should also be conversant with the PLI loan application.
The next parts of this page will go into the subtleties of PLI interest rates, how they are calculated, what affects them, and how crucial they are to financial planning. Policyholders who make educated judgments about their insurance and investment portfolios—with an emphasis on learning all there is to know about postal life insurance interest rates—can maximize the benefits of their PLI policies. The nuances of post office PLI loan interest must also be understood since they have a direct bearing on the financial decisions and advantages of PLI policies.
Also read: What is A Life Insurance Plan? Tax Benefits, Types and How It Works
Features of Postal Life Insurance Policy
- Nomination Facility: Policyholders can nominate a beneficiary to receive the policy benefits in the event of their death, ensuring that the proceeds go to the intended person.
- Loan Facility: After a specified period, policyholders can take out loans against the surrender value of their life insurance policy, providing financial assistance when needed.
- Policy Revival: If a policy lapses due to non-payment of premiums, it can be revived within a specified period by paying the overdue premiums along with any applicable interest and fulfilling any additional requirements set by the insurer.
- Duplicate Policy Document: In case the original policy document is lost or damaged, policyholders can request a duplicate document from the insurer by providing necessary proofs and paying any applicable fees.
- Conversion of Policy: Policyholders have the flexibility to convert their existing policy into another type of postal life insurance policy, such as changing from an endowment policy to a whole life policy, subject to certain conditions and eligibility criteria.
- Superlative Returns: Postal Life Insurance policies are known for offering attractive bonus rates, which enhance the maturity value of the policy, thereby providing better returns compared to many other life insurance products in the market.
What You Need to Know About PLI Interest Rate?
After a few years—usually three or four—Politic Life Insurance (PLI) gives policyholders the choice to take a loan against their plan. It's important to be aware of the related postal life insurance interest rate, even if this can be a practical method to get money. Let us examine postal life insurance interest rate determination and its importance in efficient policy loan management. Knowing the subtleties of post office PLI loan interest also guarantees that, while using this PLI policy feature, decisions are made with knowledge.- PLI Interest Rate: There are fixed charges on the postal life insurance interest rate of 10% per annum on loans taken against your policy.
- Frequency: The PLI loan interest rate interest is calculated on a half-yearly basis, meaning you'll need to pay the interest amount every six months.
Important Reminders:
- Timely Payments are Key: Unpaid PLI loan interest gets added to your outstanding loan amount, increasing your overall debt burden.
- Consequences of Non-Payment: Failure to pay the PLI loan interest your p for three consecutive half-yearly installments can lead to policy surrender. In such a scenario, the insurer will use the policy's surrender value to settle the outstanding loan and interest, and your PLI benefits will be terminated.
In short, borrowing from your PLI policy comes with a 10% annual postal life insurance interest rate, payable every six months. Make sure to prioritize timely postal life insurance interest rate payments to avoid additional charges and potential policy termination.
PLI Vs LIC
Here is a comparison of PLI and LIC plans to help you make an informed decision:| Feature | PLI | LIC |
| Types of Plans Offered | Only traditional life insurance plans | Offers all types of life insurance plans (market-linked, traditional, term insurance, retirement plans) |
| Eligibility to Buy | Employees of government organizations, local bodies, educational institutions, defense, and some listed companies | Any Indian citizen and even NRIs |
| Option to Buy | Post offices only | Company branches, agents, online |
| Maximum Age to Apply | Up to 55 years | Up to 75 years |
| Premium Rate | Low and affordable: 2% rebate for paying 12 months in advance | Higher than PLI |
| Premium Payment | Post office branch, online, electronic modes | LIC branch, collection point, online |
| Coverage Limit | Limited customization options | Flexible coverage with various optional riders |
| Bonus | Very high | Lower than PLI |
Key Takeaways:
- PLI offers only traditional plans with limited features and eligibility, while LIC provides a wider range of plans catering to diverse needs.
- LIC generally has higher premiums and wider reach compared to PLI.
- PLI boasts high bonus rates, but LIC offers more flexibility in coverage and riders.
Ultimately, the best choice depends on your individual needs, budget, and eligibility criteria.
Also read: Buying a Life Insurance Policy - All You Need to Know
Eligibility Conditions for Availing of a Loan Under the PLI Scheme
Policyholders who are interested in applying for a loan under the Postal Life Insurance (PLI) scheme should first become familiar with the eligibility requirements established by the insurance provider. These requirements help to ensure that the process is transparent and that policyholders meet specific criteria before they can access loan facilities. Here are some PLI loan details that must be met to qualify for a loan under the PLI scheme:- A minimum of 3 years is required to apply for a loan against endowment and joint life assurance.
- A minimum of 4 years is required to apply for a loan against whole life and convertible whole life assurance.
- The policyholder can avail of the PLI loan to a maximum prefixed portion of the determined surrender value during policy inception. However, the loan amount should not be less than ₹1000.
- Policyholders can take advantage of two loans at the insurance provider's discretion.
What are the Benefits of Investing in Postal Life Insurance (PLI)?
Tax Exemption:
Under Section 88 of the Income Tax Act, PLI policyholders are eligible to get an exemption from income taxes. Due to this benefit, PLI is a desirable investment choice for tax planning as it lessens the tax burden on individuals.More Flexibility:
PLI offers policyholders a range of extra facilities like assignment, loan, conversion, surrender, and paid-up value. These offer flexibility and personalization, allowing policyholders to adjust their insurance plans.Transferable Policy:
There are no extra fees associated with transferring PLI insurance to any Circle in India. This feature makes it easier for policyholders to relocate for work or personal reasons while guaranteeing hassle-free coverage continuity.Passbook function:
Policyholders can conveniently monitor loan transactions and premium payments with PLI's passbook function. This tool improves accountability and transparency by enabling policyholders to efficiently manage their policies.Options for Flexible Premium Payment:
Policyholders can choose to pay premiums on an annual, semi-annual, or monthly basis. Furthermore, payments are easy and convenient to make, as they can be paid on any working day when they are due.Premium Discounts:
For advance payments covering a six-month insurance period, there is a 1% discount on the premium value; for advance payments spanning a 12-month policy period, there is a 2% discount.Nomination service:
Policyholders can designate people to receive policy benefits in the event of their death by using PLI's nomination service. This function gives the nominee(s) financial security by ensuring a seamless and hassle-free claim settlement.Centralized Accounting Facility
PLI has a centralized accounting facility that facilitates a rapid and simple settlement of claims while expediting the claims procedure. The unified system improves efficiency and transparency.Not just the above, below mentioned are some of the reasons why post office PLI interest rate is feasible:
- Loan Availability: PLI policies give policyholders the opportunity to apply for loans, giving them access to money in case of emergencies or other financial setbacks.
- Nominal Interest Rates: The postal life insurance interest rate is nominal, which means it is extremely reasonable, giving policyholders a cost-effective borrowing choice.
- Easy to Use: The PLI plan offers policyholders a hassle-free and straightforward PLI loan details, application, and management process, making it convenient for them to access funds when they need it.
Why Choose Postal Life Insurance?
PLI plans are known for their potential to provide policyholders with significant returns at surprisingly cheap premiums. Because of its special blend of affordability and excellent returns, PLI is a dependable and alluring insurance choice for both people and businesses. Furthermore, PLI policies are well known for their adaptability, offering a variety of features and advantages to meet policyholders' changing demands.What are the types of Postal Life Insurance Policies?
To accommodate the diverse financial needs of its customers, Postal Life Insurance (PLI) in India offers a variety of insurance plans. These plans are designed to provide comprehensive coverage along with attractive postal life insurance interest rate and flexible PLI loan details Let's explore the range of options available to policyholders.- Whole Life Assurance (Suraksha)
- Endowment Assurance (Santosh)
- Convertible Whole Life Assurance (Suvidha)
- Anticipated Endowment Assurance (Sumangal)
- Joint Life Assurance (Yugal Suraksha)
- Children Policy (Bal Jeevan Bima)
1. Whole Life Insurance (Suraksha):
Postal Life Insurance (PLI)'s Whole Life Insurance plan is made to offer complete coverage together with the guarantee of long-term financial stability. These are some of its salient characteristics:- Scheme: Upon the demise of the insured, the nominee, assignee, or legal heir receives the assured amount along with accrued bonus.
- Age Eligibility: Minimum age for entry is 19 years, while the maximum is 55 years.
- Policy Conversion: Conversion to an Endowment Assurance policy is possible after completion of one year and before the insured turns 57 years old.
- Minimum Sum Assured: Rs. 20,000
- Maximum Sum Assured: Rs. 50 lakhs
- Loan Facility: Available after four years of completion.
- Policy Surrender: The policy can be surrendered after three years, but if done five years before completion, it won't be eligible for the bonus. However, if assigned or surrendered, a proportionate bonus on the reduced amount assured may be accrued.
- Medical Examination: Mandatory.
- Premiums Payable: Premiums are calculated based on factors such as age of maturity and entry.
The Whole Life Insurance plan is a wise option for long-term investment and security because it provides policyholders with the guarantee of lifetime protection and financial stability for their loved ones.
2. Endowment Assurance (Santosh):
Endowment Assurance is another essential offering by Postal Life Insurance (PLI), providing both protection and investment opportunities. Here's what you need to know about this scheme:- Scheme: Upon maturity or demise, the proponent receives the assured amount plus accrued bonus. In the event of unforeseen death, the sum insured and bonus are payable to the assigned, nominee, or legal heir.
- Age Eligibility: Entry age ranges from 19 to 50 years.
- Policy Conversion: Conversion to any other Endowment Assurance policy is possible under PLI rules.
- Minimum Sum Assured: Rs. 20,000
- Maximum Sum Assured: Rs. 50 lakhs
- Loan Facility: Available after four years of completion.
- Policy Surrender: Possible after three years, but if done five years before completion, it won't be eligible for the bonus. However, if assigned or surrendered, a proportionate bonus on the reduced amount assured may be accrued.
- Medical Examination: Mandatory.
- Premiums Payable: Premiums are calculated based on factors such as age of maturity and entry.
Endowment Assurance is a desirable choice for anyone looking for both financial security and growth prospects because it combines the advantages of investment returns with insurance cover.
3. Convertible Whole Life Insurance (Suvidha):
Flexibility and long-term protection are provided by Postal Life Insurance (PLI)'s convertible whole life insurance. Here are some details about its features:- Scheme: Assured amount plus accrued bonus is paid upon maturity or demise. The sum insured and bonus are payable to the assigned, nominee, or legal heir in the event of unforeseen death.
- Age Eligibility: Entry age ranges from 19 to 55 years.
- Policy Conversion: Conversion to Endowment Assurance is possible after five years but must not exceed 55 years. Otherwise, it automatically converts to Whole Life Insurance.
- Minimum Sum Assured: Rs. 20,000
- Maximum Sum Assured: Rs. 50 lakhs
- Loan Facility: Available after three years of completion.
- Policy Surrender: This can be surrendered after three years, but if done five years before completion, it won't be eligible for the bonus. However, if assigned or surrendered, a proportionate bonus on the reduced amount assured may be accrued.
- Medical Examination: Mandatory.
- Premiums Payable: Premiums are calculated based on factors such as age of maturity and entry.
- Convertible Whole Life Insurance offers the dual benefits of lifelong protection and the flexibility to convert to an endowment plan, catering to changing financial needs over time.
Also read: All You Need to Know about a Whole Life Insurance Policy
4. Anticipated Endowment Assurance (Sumangal):
The goal of an anticipated endowment assurance is to provide insurance and periodic returns to those who desire both. Here is a summary of its attributes:- Scheme: Money-back policy with benefits paid at specific intervals. Upon maturity or demise, the full sum assured plus accrued bonus is payable.
- Term Options: Available in 15 and 20-year terms with varying benefit payouts.
- Maximum Sum Assured: Rs. 50 lakhs
- Medical Examination: Mandatory.
- Premiums Payable: Premiums vary based on factors such as age of maturity and entry.
Anticipated Endowment Assurance is a flexible option for long-term financial planning because it's perfect for people who want regular returns and financial security for their loved ones.
5. Joint Life Endowment Assurance (Yugal Suraksha):
The Joint Life Endowment Assurance combines ease of use with complete protection by providing coverage for both couples for a single premium. These are some of its salient characteristics:- Scheme: Both spouses are covered under a single policy, with the sum assured plus accrued bonus payable upon maturity or demise.
- Age Eligibility: Entry age ranges from 19 to 55 years.
- Policy Conversion: Conversion to any other Endowment Assurance policy is possible under PLI rules.
- Minimum Sum Assured: Rs. 20,000
- Maximum Sum Assured: Rs. 50 lakhs
- Loan Facility: Available after three years of completion.
- Policy Surrender: Can be surrendered after three years, but if done five years before completion, it won't be eligible for bonuses. However, if assigned or surrendered, a proportionate bonus on the reduced amount assured may be accrued.
- Medical Examination: Mandatory.
- Premiums Payable: Premiums vary based on factors such as age of maturity and entry.
For couples looking for complete insurance coverage, Joint Life Endowment Assurance is a practical and affordable option that can secure their shared future financially.
6. Children Policy (Bal Jeevan Bima):
The Children Policy, commonly referred to as Bal Jeevan Bima, is intended to safeguard policyholders' children's future by offering stability and financial security. Here is a summary of its attributes:- Eligibility: Children between the ages of five and 20 whose parents hold a PLI policy are eligible for coverage.
- Coverage: The policy provides a maximum sum assured of Rs. 3 lakhs or equivalent to the sum assured of the main policyholder, whichever is less.
- Premium Payment: No premium is payable in case of the main policyholder's death. The full sum assured plus accrued bonus is paid upon completion of the policy term.
- Responsibility: The main policyholder is responsible for premium payments for the Children Policy.
- Medical Examination: No mandatory medical examination is required for the children's policy.
- Policy Bonus: Policy bonus is calculated at the rate applicable to Endowment Policies, ensuring competitive returns.
The Children Policy gives parents a dependable means of securing their children's future, bringing them years of financial stability and peace of mind.
7. Scheme for Physically Handicapped Person:
The PLI benefits are extended to those with disabilities through the Scheme for Physically Handicapped Persons, guaranteeing them access to necessary insurance coverage. Here are some details about its features:- Eligibility: Physically handicapped individuals can avail themselves of any PLI policy, with premium rates based on the nature and extent of the disability determined through a mandatory medical examination.
- Policy Options: Handicapped individuals can choose from the various life insurance policies offered by PLI, tailored to their specific needs and financial goals.
- Premium Rates: Premium rates are adjusted based on the severity of the handicap, ensuring fair and accessible insurance coverage for all.
Historical Bonus Rates for Postal Life Insurance (PLI) in India
| Financial Year | PLI | ||
| Rate of Binus Per Thousand of Sum Assured | |||
| Whole Life Assurance (WLA) | Endowment Assurance (EA), including Joint Life & Children Policies | Anticipated Endowment Assurance (AEA) | |
| 2009-10 | 85 | 60 | 55 |
| 2010-11 | 85 | 60 | 55 |
| 2011-12 | 85 | 58 | 53 |
| 2012-13 | 85 | 58 | 53 |
| 2013-14 | 85 | 58 | 53 |
| 2014-15 | 85 | 58 | 53 |
| 2015-16 | 85 | 58 | 53 |
| 2016-17 | 85 | 58 | 53 |
| 2017-18 | 85 | 58 | 53 |
| 2018-19 | 85 | 58 | 53 |
| 2019-20 | 85 | 58 | 53 |
| 2020-21 | 76 | 52 | 48 |
| 2021-22 | 76 | 52 | 48 |
| 2022-23 | 76 | 52 | 48 |
| 2023-24 | 76 | 52 | 48 |
Citizen Charter
| SI No. | Nature of Work | Qualifying Description | Service Standars (in days) |
| 1. | Issue of acceptance letter and policy bond | Time taken from the receipt of completed documents | 15 |
| 2. | Revival/Conversion | Time taken from the receipt of completed documents | 15 |
| 3. | Loan, change of nomination, assignment of policy, issue of duplicate policy bond | Time taken on receipt of request | 10 |
| 4. | Change of address | Time taken on receipt request | 5 |
| 5. | Maturity Claim/ Surrender/ Paid Up Value/ Survival Benefit Payment | Time taken from the receipt of completed documents | 15 |
| 6. | Settlement of PLI/RPLI Death Claims | With/without nomination {Time taken from the receipt of completed documents} | 30 |
| Involving investigation | 90 |
PLI Loan Form
Postal Life Insurance offers a range of forms conveniently accessible on its website for various purposes. Here's a breakdown of the available PLI loan forms:- RPLI Form
- RPLI Medical Form
- Child Proposal Form
- Yugal Suraksha Form
- WLA, CWLA, EA, and AEA Form
- Loan Application Form
- Claims Form
- Form for Revival of Lapsed Policy
- Maturity Claim Form
- Personal Bond of Indemnity
- Survival Benefit Claim Form
PLI Loan Details
Some Postal Life Insurance (PLI) policies allow you to borrow money against them after a few years (usually 3-4 years). Here's what you need to know:Who is eligible?
- This loan option applies only to certain traditional PLI plans, not newer types like unit-linked plans or online insurance.
- You can generally take a loan after holding the policy for a specific period (typically 3-4 years).
Loan Details:
- The PLI loan interest rate is fixed at 10% per year, calculated every 6 months.
- The maximum loan amount you can borrow depends on a portion of your policy's value.
- You'll need to make the PLI loan interest payments twice a year (on or before the 21st of the month).
Important Points:
- Taking a loan before a certain period (usually 5 years) might reduce or eliminate the bonuses you earn on your policy.
- PLI doesn't offer dedicated home loans through these policies.
Remember, for the most accurate and up-to-date information, always refer to the official PLI website regarding the PLI loan interest rate, specific PLI loan details, and the PLI loan form required for the application process.
Also read: Post Office Recurring Deposit Scheme: A Comprehensive Guide
Final Thoughts
In summary, PLI is a commitment to safeguarding your family's future as much as a financial choice. Employees in the government and semi-government sectors, as well as professionals, have a dependable way to make sure their loved ones are financially secure: the Government of India's Postal Life Insurance (PLI) plans.In addition to life insurance, PLI provides lending facilities, which let policyholders access money when they need it. The PLI loan interest rate is a half-monthly rate fixed at a competitive 10% annually. Even if the procedure is simple, you must become familiar with the terms and conditions related to PLI loans in order to make wise selections.
By understanding the nuances of PLI loans and the relevant post office PLI interest rate in the post office (post office PLI interest rate), people can leverage life insurance not only for family protection but also to address a variety of other financial needs. Ultimately, PLI empowers individuals to invest in the future with confidence, knowing they have a trusted partner safeguarding their financial well-being.
Also read: Post Office Fixed Deposit Interest Rates: A Haven for Your Savings
FAQS – FREQUENTLY ASKED QUESTIONS
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How can policyholders ensure timely payments of PLI loan interest to avoid additional charges and policy termination ?
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How is the Post Office PLI Interest Rate determined, and what are its implications for policyholders ?
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What are the key factors influencing the PLI interest rate, and how does it compare to other borrowing options ?
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What are the consequences of non-payment of PLI loan interest for policyholders, and how can they mitigate these risks ?
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How does the PLI loan form facilitate the borrowing process for policyholders, and what information is required to complete it ?
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What eligibility conditions must policyholders meet to qualify for a loan under the PLI scheme, and how does this process work ?
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What are the benefits of investing in Postal Life Insurance (PLI), and how does the PLI post office interest rate contribute to these advantages ?
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How do PLI policies compare with other insurance options like LIC, and what role does the PLI post office interest rate play in this comparison ?
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Why should individuals choose Postal Life Insurance (PLI) as their preferred insurance provider, and how does the PLI interest rate contribute to its appeal ?
DISCLAIMER
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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No fee or consideration or economic benefit either directly or indirectly is associated for availing the assessment through MoneyForLife Planner and therefore it is not to be considered as an investment advice or financial planning and / or investment advisory services.
You agree and understand that use of MoneyForLife Planner does not assure attainment of your investment objectives and there is no assurance that the money objectives will be achieved, as the same is subject to performance of the securities, the forces affecting the securities market and your risk profile. You are advised to consult an investment advisor in case you would like to undertake financial planning and / or investment advice for meeting your investment requirements.
You also agree that risks associated with any investment would be entirely yours and you would not hold ABCL and/or ABC Companies or any of its employees liable for any losses that may arise on account of any investments under taken basis the use of MoneyForLife Planner.
All investment decisions shall be taken by you in your sole discretion. You are advised to read the respective offer documents carefully for more details on risk factors, terms and conditions before making any investment decision in any scheme or products or securities or loan product. All investments in any product / fund / securities etc. will be on the basis, subject to and as per the terms and conditions of the specific product’s / fund’s / security’s offer document, key information memorandum, risk disclosure document, product or sales brochure or any other related documents which are offered by the respective issuer of such product/securities. You can use execution platform/services with any third party as deem fit and proper, and there is no compulsion to use the execution services through this Website.
Not an Investment Advisor, Planner, Broker or Tax Advisor
The facilities on the Website are not intended to provide any legal, tax or financial or securities related advice. You agree and understand that the Website is not and shall never be construed as a financial planner, financial intermediary, investment advisor, broker or tax advisor. The facilities are intended only to assist you in your money needs and decision-making and is broad and general in scope. Your personal financial situation is unique, and any information and advice obtained through the facilities may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your advisor or other financial advisers who are fully aware of your individual circumstances. For more details, please also refer to the Legal Disclaimers provided on the Website.
Financial Solutions
We may provide you with various money solutions and options which are generally available basis your investment profile or those which are generally held by persons of similar investment profile. You authorize us to use/disseminate the information to provide the Financial Solutions however it is not necessarily for you to act on it. It only serves an indicative use of information which you may execute in the manner agreed by you.
Password Protection
You shall not be entitled to avail the facilities without the use of a user name and password. You are responsible for maintaining the confidentiality of your password and Account, and you shall not allow anyone else to use your password at any time. You are fully responsible for all activities that occur using your password or Account. You are requested to please notify www.adityabirlacapital.com immediately of any unauthorized use or access of your password or Account, or any other breach of security. The Website will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge.
Intellectual Property Rights
This Website contains information, materials, including text, images, graphics, videos and sound (“Materials”), which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in these Materials are either owned by ABCL or have been licensed to Facilities Provider, ABCL / ABC Companies by the owner(s) of those rights so that it can use these Materials as part of this Website. Other than those Materials which belong to Third Parties, ABC Companies retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this Website which are either owned by or licensed to by ABCL and/or used under license by ABC Companies.
You shall not (a) copy (whether by printing off onto paper, storing on disk, downloading or in any other way), distribute (including distributing copies), download, display, perform, reproduce, distribute, modify, edit, alter, enhance, broadcast or tamper with in any way or otherwise use any Materials contained in the Website. These restrictions apply in relation to all or part of the Materials on the Website; (b) copy and distribute this information on any other server or modify or re-use text or graphics on this system or another system. No reproduction of any part of the Website may be sold or distributed for commercial gain nor shall it be modified or incorporated in any other work, publication or web site, whether in hard copy or electronic format, including postings to any other web site; (c) remove any copyright, trade mark or other intellectual property notices contained in the original material from any material copied or printed off from the web site; link to this Website; without our express written consent.
No Warranty
Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. This Website makes no representations or warranties as to the fairness, completeness or accuracy of Information. There is no commitment to update or correct any information that appears on the Internet or on this Website. Information is supplied upon the condition that the persons receiving the same will make their own determination as to its suitability for their purposes prior to use or in connection with the making of any decision. Any use of this Website or the information is at your own risk. Neither ABCL and ABC Companies, nor their officers, employees or agents shall be liable for any loss, damage or expense arising out of any access to, use of, or reliance upon, this Website or the information, or any website linked to this Website.
No Liability
This Website is provided to you on an "as is" and "where-is" basis, without any warranty. ABCL, for itself and any ABC Companies and third party providing information, Materials (defined later), facilities, or content to this Website, makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third party rights, with respect to the website, the information or any products or facilities to which the information refers. ABCL will not be liable to you or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the site, including but not limited to, your use of this site or your inability to use the site, even if ABCL has previously been advised of the possibility of such damages. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties.
The Facilities Provider or ABCL or ABC Companies shall have absolutely no liability in connection with the information and Material posted on this Website including any liability for damage to your computer hardware, data, information, materials, or business resulting from the information and/or Material or the lack of information and/or Material available on the Website. In no event shall ABCL or ABC Companies shall be liable for any for any special, incidental, consequential, exemplary or punitive damages for any loss, arising out of or in connection with (a) the use, misuse or the inability to use this Website; (b) unauthorized access to or alteration of your transmissions or data; (c) statements or conduct of any third party on the site; or (d) any other matter whatever nature relating to this Website.
Further, the Facilities Provider cannot always foresee or anticipate technical or other difficulties. The facilities may contain errors, bugs, or other problems. These difficulties may result in loss of data, personalization settings or other facilities interruptions. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings.
The Facilities Provider, ABCL, ABC Companies and the providers of information shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained at this Website.
Manner of Use of Personal Information
All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Therefore, for any of these Purposes, the Website will use ABC Companies their authorized third party vendors, agents, contractors, consultants or facilities providers (individually a ‘Third Party Service Provider’ and collectively, the “Third Party Service Providers”) and to that extent you understand and authorize the Facilities Provider to share/transmit such information to Third Party Service Providers. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary.
Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties,
You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law.
Use of Website in India
This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. If you use this Website from outside the India, you are entirely responsible for compliance with all applicable local laws. There is no warranty or representation that a user in one region may obtain the facilities of this website in another region.
Information published on the Website may contain references or cross references to products, programs and facilities offered by ABC Companies/third parties that are not announced or available in your country. Such references do not imply that it is intended to announce such products, programs or facilities in your country. You may consult your local advisors for information regarding the products, programs and services that may be available to you.
In your use of the Website, you may enter correspondence with, purchase goods and/or facilities from, or participate in promotions of advertisers or members or sponsors of the web site, including those of ABC Companies. Unless otherwise stated, any such correspondence, advertisement, purchase or promotion, including the delivery of and the payment for goods and/or facilities, and any other term, condition, warranty or representation associated with such correspondence, purchase or promotion, is solely between you and the applicable ABC Companies and/or third parties.
You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties.
Third party websites
This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Such links do not indicate any responsibility or endorsement on our part for the external website concerned, its contents or the links displayed on it. These links are provided only as a convenience, in order to help you find relevant websites, facilities and/or products that may be of interest to you, quickly and easily. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. The Facilities Provider or ABCL is not responsible for the owners or operators of these websites or for any goods or facilities they supply or for the content of their websites and does not give or enter into any conditions, warranties or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external web site to which this web site includes a link infringes the intellectual property rights of any third party).
USE of APP
In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.
Postings and monitoring
The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.
Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.
We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.
If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com
Use of Cookies
You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.
Facilities Changes and Discontinuation
The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.
ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.
Compliance with the Law
You agree that you will not:
- Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
- Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
- Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
- Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
- You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.
Restrictions on Commercial Use or Resale
Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.
No Endorsements
All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.
Promotional Offers
You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.
Charges for use of Website
There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).
No Endorsement
You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.
In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.
Electronic Communications
These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.
Assignment
You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.
Legal Disclaimers
The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.
The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.
Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.
No Solicitation
No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.
The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.
Statutory Disclosure
ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF. Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.
Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.
Force Majeure
The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.
Indemnification
You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.
No Waiver
The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.
Exclusive Agreement
You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.
Termination
Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.
Governing Law and Jurisdiction
The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.
These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.
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