Terms and Conditions

By joining the Program and becoming a Participant, you have read, understood and agreed to be bound by these Program Terms and Conditions of Participation (“Program Terms”) and by any changes or modifications we may make from time to time.

1. Definitions
   1. “Siddhartha Bank Limited”, “Us”, “We”, “Our” or “Bank” means Siddhartha Bank Limited.
   2. “Siddhartha Rewards”, “Program”, or “Loyalty Program” means Siddhartha Rewards extended by the Bank for the selected transactions conducted by using BankSmart XP, Debit Card, Credit Card and Prepaid Card
   3. “You”, “Participant”, “Customer” or “Member” means a Siddhartha Bank Limited Customer who has enrolled to participate in the Program.
   4. “Siddhartha Rewards Points” or “Reward Points” means points credited to the participant’s Siddhartha Rewards account on the transactions eligible for earning points as per the terms of the program.
   5. “Reward” means physical or other items or services offered against redemption of the required Siddhartha Rewards Points as will be notified by the Bank from time to time.
2. Participation
   • 2.1 Eligibility
     • 2.1.1 The Program is offered at the sole discretion of the Bank and is open to individual customers of the Bank maintaining saving accounts who have subscribed any of the digital products of the Bank (BankSmart XP, Debit Card, Credit Card or Prepaid Card) but will exclude corporate / Business customers and any other category of customers as the Bank may communicate from time to time.
     • 2.1.2 The Program is available to individuals for their personal use only, subject to the provisions of these Terms and Conditions, and is limited to one participation per Customer, regardless of the number of bank accounts held with us. In case of multiple CIF linked with single user in Banksmart XP, the accrued points will be shown for each CIF separately. However, the redemption will be available only for primary CIF as defined in Banksmart XP.
     • 2.1.3 Employees of the Bank and individuals employed by our business partners or vendors are eligible for membership for personal use only but may be excluded from certain benefits of the Program at the discretion of the Bank.
     • 2.1.4 You should review these Program Terms frequently to understand the terms and conditions that apply to the Program as they may change from time to time. These Program Terms do not alter in any way the terms or conditions of any other agreement you may have with us, including any agreement for banking products or services.
     • 2.1.5 By enrolling in the Program, you also agree to be bound by our website Privacy Policy and our website Terms and Conditions, which are incorporated herein by reference.
     • 2.1.6 The Program is valid in LOCATION only.
   • 2.2 Enrolment Procedure
     • 2.2.1 If you are an Account Holder of Siddhartha Bank Limited subscribing any of the digital products of the Bank (BankSmart XP, Debit Card, Credit Card or Prepaid Card),you are automatically entitled to get 'Siddhartha Rewards’ loyalty points on your everyday banking activities. You do not need to further sign up in additional system to enroll in Siddhartha Rewards Program. You can simply log Siddhartha BankSmart XP mobile app or web version to view and redeem your loyalty points.
     • 2.2.2 Only one Program account may be associated with a Siddhartha Bank Limited customer and a single mobile phone number. In the event of a dispute over ownership of the Program membership account, the participant will be deemed to be the authorized account holder of the Siddhartha Bank Limited account submitted at the time of enrollment. For purposes of these Program Terms, the "authorized account holder" is the natural person who is assigned to the submitted Bank account.
     • 2.2.3 Warranties Given by the Participant

       In addition to complying with the provisions of these Terms and Conditions, you warrant to Siddhartha Bank that:

       1. The information given by you at the time of account opening is complete, true and accurate and that you will inform Siddhartha Bank of any subsequent changes to such particulars.
       2. You will not sell, barter or attempt to assign, transfer or deal with the Siddhartha Rewards accrued otherwise than as authorized by these Terms and Conditions.
       3. You will give to Siddhartha Bank Limited such information as may be requested at Siddhartha Bank Limited’s discretion in order to verify your entitlements under the Program or for any other purpose whatsoever.
       4. You will not act in a manner likely to affect the good name of Siddhartha Bank Limited.
       5. You own or are authorized to use all Siddhartha Bank accounts against whose usage Siddhartha Rewards will accrue.
       6. You consent to Siddhartha Bank Limited sharing your information as per clause 6 below.
3. Siddhartha Reward Points

   Once you are confirmed as a Participant in the Program, you may earn Siddhartha Rewards Points, as provided below, when you transact using various channels, products and services offered by the Bank from time to time. Once you earn a certain number of points, you may be eligible to redeem benefits and rewards applicable to that number of points, which benefits may change from time to time and may be offered on a limited basis.

   • Earning Siddhartha Rewards Points

     The accrual of Siddhartha Rewards Points will be on the basis of your Participation in the program and usage of the Bank digital channels, status of your Siddhartha Bank account(s) and such other criteria as the Bank may determine from time to time at its sole discretion.

     • 3.1.1 Activities that will earn you Siddhartha Rewards Points: See attached Annexure-I.
     • 3.1.2 The Bank will not allocate Siddhartha Rewards Points and may reverse or cancel any Reward Points allocated where it is found that such points were accrued in breach of these Terms and Conditions or otherwise incorrectly.
     • 3.1.3 As a Bank account holder, you will not be eligible to redeem your Reward Points if any of your Siddhartha Bank Limited account(s) is dormant or overdrawn.
     • 3.1.4 You will immediately forfeit all accrued Reward Points if:
       • 3.1.4.1 Any facility extended to you by the Bank becomes overdue, and you may begin to accumulate points once your account with the Bank is regularized; or
       • 3.1.4.2 If you close your account.
   • 3.2 Checking Your Siddhartha Rewards Points Balance
     • 3.2.1 You can view your reward points in the Account Section in the Siddhartha BankSmart XP mobile app and web version. Simply, tap “Siddhartha Rewards” in the main menu or you can simply search “Siddhartha Rewards” from search option on home page after login. From web version, you can click “Account” where you will see Siddhartha Rewards under menu “All Account”.
4. Redemption of Siddhartha Rewards Points
   • 4.1 Available Rewards and how to redeem your Siddhartha Rewards Points
     • 4.1.1 You will be able to redeem your Reward Points for a variety of Merchandise, and rewards, as the Bank may offer from time to time.
     • 4.1.2 Information regarding applicable redemption requirements will be communicated by the Bank in the Bank’s website or any other means determined by the Bank from time to time.
     • 4.1.3 To redeem Rewards, you must have accumulated the minimum number of points as established by us for a particular benefit.
     • 4.1.4 Rewards can only be redeemed by logging in to the Siddhartha BankSmart XP app either mobile version or web version, and clicking Siddhartha Rewards on the main menu.
     • 4.1.5 If you have concerns that a purchase, redemption or other activity was not properly applied to your Participation in the Program, you should contact Siddhartha Care at +977-01-5970020.
   • 4.2 What else you need to know about the redemption of your Siddhartha Rewards Points
     • Once you have successfully redeemed your points as described above, such request cannot be revoked, amended or exchanged for another reward nor will the redeemed points be reinstated to you.
     • Merchandise displayed from time to time and featured at the Siddhartha Rewards website (rewards.siddharthabank.com) is subject to availability. The receipt by the Bank of an intention to redeem such items will not constitute a reservation nor purchase of that item.
     • The Bank reserves the right, at its absolute discretion to set any quota for, or replace or withdraw any featured Reward at any time and to substitute any Reward requested for redemption by a Participant for a different Reward of comparable point value to the particular Reward requested by the Participant.
     • The Bank reserves the right to change any of the Program Rewards, how you accrue Reward Points, and how we evaluate and reward your eligible Program activity. We reserve the right to place limits on the number or types of activities that are eligible for the Program, in a given time period or for the duration of the Program, and/or any combination thereof.
     • The redeemers of all Merchandise will be required to identify themselves through the presentation of such documentation as shall be considered suitable for verification by the Bank including but not limited to any of the following forms of identification: Original Government issued identification card/original passport.
     • By redeeming the Reward Points you release the Bank from any and all liability regarding the redemption of the Reward Points.
     • Redeemed Rewards cannot be exchanged or returned for replacement of Siddhartha Rewards Points, another product, or a monetary refund.
     • The Bank is not responsible or liable for any redemption of your Siddhartha Rewards Points balance where the redemption was not authorized by you, or due to any fraudulent activity by you or any third party.
     • If you have concerns that a redemption of or other activity was not properly applied to your Participation in the Program, you should contact Siddhartha Care at +977-01-5970020.
5. Expiration of Your Siddhartha Rewards Points
   • 5.1 Siddhartha Rewards Points accrued will be deemed to have expired:
     • 5.1.1 24 months after they have been accrued (Validity Period) at the end of the month immediately following the end of the Validity Period or as communicated to you by the Bank;
     • 5.1.2 Immediately, in the event that a Participant’s Siddhartha Bank account has been dormant or has been closed in accordance with the Bank’s applicable terms and conditions.
   • 5.2 Upon termination of the Program as provided in item 10.2 below you will be required to redeem your Reward Points within two months from the date on which the Bank publishes a notice of termination. Points not redeemed within this period will be deemed to have expired and thereby forfeited by the Participant.
   • 5.3 The Bank will not be obligated to offer an extension or reinstatement of expired or forfeited points nor offer any cash refunds or other exchanges or compensation whatsoever for expired or forfeited Siddhartha Rewards Points.
6. Use of Personal Data

   The Bank will use and be to disclose the personal information you provide for the following purposes.

   1. Administering the Program.
   2. Fraud prevention and law enforcement.
   3. Marketing and research related activities.
   4. Such other purposes as may be provided in the terms and conditions of use of any of the Bank products and services.
   5. Compliance with any legal requirements or court order.
7. General issues, Variation and Limitation of Liability
   • 7.1 The Program and Reward Points are offered at the sole discretion of Siddhartha Bank and the Bank reserves the right to cancel, modify, restrict or terminate any of the Terms and Conditions of the Program at any time without prior notice including but not limited to the minimum number of Reward Points required to redeem a reward, types of rewards, conditions of participation etc., even though such changes may affect the redemption value of the Reward Points already accumulated. Subsequent modifications to these terms and conditions will be posted on rewards.siddharthabank.com.
   • 7.2 In the event these terms and conditions are amended or varied as provided in item 7.1 above then your continued participation in the Program will be deemed to be an acceptance of such a variation.
   • 7.3 We reserve the right to exclude you from or to discontinue your participation in the Program and to audit your membership account at any time, in our sole discretion. To keep your account active you must utilize any of the Siddhartha Bank channels as provided in the Annex at least once in Six (6) months.
   • 7.4 Siddhartha Rewards Points of one Participant cannot be combined with those of other Participants to redeem a Reward.
   • 7.5 The Reward Points shall not be sold or dealt with in any manner in any form of secondary market.
   • 7.6 The Rewards available through the Program are for personal use only. You may not sell or resell any of the products, services, or form of Reward you receive from us under this Program.
   • 7.7 By enrolling in the Program, you agree to receive Program-related communication from us.
   • 7.8 The Reward Points you accrue do not constitute your property nor do they entitle you to a vested right or interest and in this regard are not transferable, or assignable to any other Participant as stated in these terms and conditions.
   • 7.9 Any Reward Points earned by you prior to migrating to another Siddhartha Bank account will not be lost but will continue to accumulate in your name.
8. Disclaimer of Warranties; Limitation of Liability
   • 8.1 NEITHER SIDDHARTHA BANK LIMITED NOR OUR PARENT, AFFILIATES, PARTNERS, OR LICENSORS MAKE ANY REPRESENTATIONS, WARRANTIES OR CONDITIONS OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED, IN CONNECTION WITH THESE TERMS OR THE PROGRAM OR ANY OF THE REWARDS, BENEFITS, OR POINTS ASSOCIATED WITH THE PROGRAM INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF ABILITY, NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE.
   • 8.2 YOU AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, NEITHER SIDDHARTHA BANK LIMITED NOR OUR PARENTS, AFFILIATES, PARTNERS, OR LICENSORS WILL BE RESPONSIBLE OR LIABLE (WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE) UNDER ANY CIRCUMSTANCES FOR ANY
     1. ACCESS DELAYS OR ACCESS INTERRUPTIONS TO THE PROGRAM;
     2. DATA NON-DELIVERY, LOSS, THEFT, MISDELIVERY, CORRUPTION, DESTRUCTION OR OTHER MODIFICATION;
     3. LOSS OR DAMAGES OF ANY SORT INCURRED AS A RESULT OF DEALINGS WITH OR THE PRESENCE OF THIRD PARTY LINKS ON THE ACCESS CHANNELS OR USE OF ANY REWARD OR BENEFIT OF THE PROGRAM;
     4. COMPUTER VIRUSES, SYSTEM FAILURES OR MALFUNCTIONS WHICH MAY OCCUR IN CONNECTION WITH YOUR PARTICIPATION IN THE PROGRAM, INCLUDING DURING HYPERLINK TO OR FROM THIRD PARTY WEBSITES;
     5. ANY INACCURACIES OR OMISSIONS IN PROGRAM CONTENT; OR
     6. EVENTS BEYOND OUR REASONABLE CONTROL. WE MAKE NO REPRESENTATIONS, WARRANTIES OR CONDITIONS THAT DEFECTS OR ERRORS WILL BE CORRECTED

     FURTHER, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, NEITHER SIDDHARTHA BANK LIMITED NOR OUR PARENTS, SUBSIDIARIES, AFFILIATES, PARTNERS, OR LICENSORS WILL BE LIABLE FOR ANY INDIRECT, SPECIAL, PUNITIVE, INCIDENTAL, OR CONSEQUENTIAL LOSS OR DAMAGES OF ANY KIND (INCLUDING LOST PROFITS) RELATED TO THE PROGRAM OR AND YOUR PARTICIPATION THEREIN, REGARDLESS OF THE FORM OF ACTION WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHERWISE, REGARDLESS OF WHETHER THE SAME AROSE FROM NEGLIGENCE, BREACH OF CONTRACT OR OTHERWISE, AND REGARDLESS OF WHETHER SIDDHARTHA BANK LIMITED HAS ANY CONTROL OVER CIRCUMSTANCES GIVING RISE TO THE CLAIM OR NOT, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND IN NO EVENT SHALL THE BANK BE LIABLE TO YOU FOR ANY AMOUNT.

   • 8.3 IF YOU HAVE A DISPUTE WITH US OR ARE DISSATISFIED WITH THE PROGRAM, TERMINATION OF YOUR MEMBERSHIP IN THE PROGRAM IS YOUR SOLE REMEDY. WE HAVE NO OTHER OBLIGATION, LIABILITY, OR RESPONSIBILITY TO YOU.
9. Indemnification

   You agree to defend, indemnify and hold us, our parents, affiliates, partners, licensor's, officers, directors, employees, and agents harmless for any loss, damages or costs, including reasonable attorneys' fees, resulting from any third party claim, action, or demand resulting from your participation in the Program or your breach of any of these Program Terms.

10. Deregistration and Termination
    • 10.1 You will be able to deregister yourself from the Program by contacting Siddhartha Care on +977-01-5970020 or by writing to siddhartharewards@sbl.com.np. If you deregister, you will immediately lose all accrued points and benefits, and your Participation in the Program will be terminated from the date of deregistration.
    • 10.2 The Bank reserves the right to terminate the Program at any time, without providing justification and without liability to you. Notice will be published in a local daily and on the Website and will be effective immediately upon publication of the notice. In such event Participants will be required to redeem their Reward Points within the period set out in item 5.2 above.
    • 10.3 The Bank reserves the right to terminate your participation in the Program by notice with immediate effect in the following circumstances:
      • 10.3.1 Upon any detection of fraud or attempted fraud relating to your enrolment, registration, the accrual and redemption of the Reward Points;
      • 10.3.2 Breach of any of these terms and conditions;
      • 10.3.3 Membership inactivity for more than 24 months;
      • 10.3.4 Erroneous enrolment arising from accounts not eligible to participate in the Program;
      • 10.3.5 Closure of Bank account(s);
      • 10.3.6 Illegal activity, fraud, misrepresentation or other conduct inconsistent with these Program Terms and/or detrimental to us or our interests, including without limitation, any suspected illegal, fraudulent other unauthorized use of any Program rewards,
      • 10.3.7 Any other circumstances (justification for which will not be provided) as may be determined by Siddhartha Bank Limited.
    • 10.4 If your Participation in the Program is terminated under any of the circumstances set out in item 10.3 above then you will:
      • 10.4.1 lose your right to redeem your accrued Reward Points and the same will be deemed to have been forfeited as at such date and in such manner as you will be notified by the Bank, in which case the provisions of item 5.3 above will apply;
      • 10.4.2 You will be de-registered from Participation in the Program upon completion of forfeiture of your accrued points as provided in 10.4.1 above.
    • 10.5 If we suspect illegal activity, fraud, misrepresentation, abuse or violation of these Program Terms, we also have the right to take appropriate legal action, in our sole discretion, and to recover damages and other expenses incurred in pursing such action.
11. Disputes

    These terms and conditions are subject to interpretation by Siddhartha Bank and any questions or disputes regarding a Participant’s eligibility for the Program, the earning and redemption of Reward Points and a Participants compliance with these terms and conditions will be resolved by the Bank and all decisions reached will be final and binding.

Annexure - I

By participating in the Siddhartha Rewards Loyalty Program, customers agree to abide by these Terms and Conditions. The Bank reserves the right to interpret, apply, and enforce these Terms and Conditions at its discretion.