TERMS AND CONDITIONS FOR BFL REWARDS

These Terms and Conditions (the "Rewards Terms") apply to and regulate the various Reward Program Schemes (Ref Clause 32 of Terms of Use) and are in addition to Terms of Use governing the ‘Reward Programs’ of Bajaj Finance Limited and as available on while using Bajaj Finserv App and/or at BFL Network, excluding third-party insurance products. To the extent of any inconsistency between these Reward Terms and the Terms of Use, these Terms shall prevail on the subject matter pertaining to Reward Programs. Terms used in capitalized form and not defined herein, shall have the meaning assigned to them under the Terms of Use. All Customers accessing BFL Rewards shall be deemed to read, understood, and agreed to be bound by these Reward Terms.

1. Scope:

(a) You / Customer (Defined in Terms of Use) may be entitled for the various Reward Program Scheme(s) subject to fulfilment of eligibility criteria as stipulated in various Reward Program Scheme displayed / available in Bajaj Finserv App / BFL Network in order to avail BFL / its group / affiliate / subsidiary / holding company / partner Products / Services, as the case may be.

(b) Reward Program Scheme shall come in force from the Effective Date and shall be available to Bajaj Finserv App Customers only, on and after the Effective Date.

(c) The terms of use and eligibility shall be expressly detailed along with each and every Reward Program Scheme of the particular or related BFL Product / Service and the same shall be binding on You. Under the BFL rewards program customer gets rewarded post completion of certain activity such as carrying out a certain transaction or fulfilment of certain pre-decided event with either Cashback, Bajaj Coins or Vouchers.

(d) The cashback, Bajaj Coins, and vouchers shall be awarded to the Customer at the sole discretion of BFL.

(e) None of the Reward Program Scheme include betting and wagering.

(f) Customer’s participation in any reward Program Scheme shall be completely voluntary. Customers may choose to not to participate in the Reward program Scheme. BFL does not guarantee any Bajaj coins, cashback, and vouchers to any Customer.

(g) Customers must not participate in the Reward Program Scheme if they are prohibited by the respective State, municipal or other local area body laws from participating in such promotions or if such reward program scheme are not permitted to be offered within such jurisdictions.

2. BFL Rewards Program:

BFL Rewards Program allows eligible Bajaj Finserv App Customers to accumulate rewards by transacting on the Bajaj Finserv App and BFL Network and is open to eligible registered Bajaj Finserv App Customers having a valid operative account with BFL. The various types/categories of BFL Rewards Programs as mentioned below:

(a) Rewards Cashback:

Rewards Cashback can be in the form of a scratch card.
Cashback is accumulated only at the Customer’s Bajaj Pay Sub Wallet (which shall be part of the Customer’s Bajaj Pay Wallet) and Customers without Bajaj Pay Wallet / Bajaj Pay Sub-Wallet may or may not receive the associated cashback or other equivalent reward, at the sole discretion of BFL.
There may be certain activities on Bajaj Finserv App which are associated with assured cashback rewards and some activities where cashback rewards are randomized on the basis of unbiased automated algorithm having no manual intervention, while considering the maximum earning potential per Customer per annum.
In case of closure / termination of customer’s Bajaj Pay Wallet or Bajaj Pay Sub-Wallet, the associated cashback shall automatically stand lapsed and shall not be capable of being used / redeemed. Where Rewards Cashback is in the form of a Scratch Card, the scratch card shall automatically lapse on expiry of 30 days from the day of issuance of the scratch card.
The earned cashback can be used / redeemed while making part / full payments towards your purchases of products / services from BFL, making bill payments / recharges within the Bajaj Finserv App in the manner as specified under the Reward Program Scheme and the Terms and Conditions governing Bajaj Pay Sub-wallet from time to time.
Once redeemed, Cashback redemption transactions cannot be cancelled, varied or reversed. • The Customers acknowledge that the cashback earned by them cannot be transferred to- any bank account, any other Bajaj Pay Wallet / Sub Wallet or withdrawn as cash.
Customers understand and agree that the Cashback cannot be used for loan repayment or for payment of credit card dues.

(b) Bajaj Coins:

One Bajaj coin carries equivalent value of 20 Paisa, which is not withdrawable as cash.
The term Bajaj Coins denotes the reward which could be redeemed only on Bajaj Pay Wallet and on Bajaj Finserv App only.
Bajaj Coins is/are NOT to be construed as any legal tender or currency (digital/physical) under Indian law.
Minimum Bajaj Coins balance in Bajaj Finserv App should be 250 to qualify for conversion to cash back on Bajaj Finserv App.
Bajaj Coins once converted as cash into sub-wallet, it cannot be converted back into Bajaj coins.
The accumulated Bajaj Coins can be redeemed/used by the Customers for a wide variety of payment transactions as offered and specified by BFL.
Once redeemed, Redemption cannot be cancelled, varied or reversed.
On redemption, the quantum of Bajaj Coins so redeemed would be automatically subtracted from the accumulated Bajaj Coins in the BFL Customer’s Account.
Customer can use these accumulated Bajaj Coins to purchase vouchers from identified third party platforms as may be made available from time to time.
A Customer can also convert these Bajaj Coins to Bajaj Pay Sub-wallet cash.
The conversion ratio and the minimum reward points required for redemption are specified on the Bajaj Finserv App and may vary from event to event.
The conversion rate of accumulated Bajaj Coins, irrespective of the event of earning, may vary at sole discretion of BFL and is subject to change without any prior information to the Customer.
BFL reserves the right to add / alter / modify / change or vary all of these terms & conditions or to replace wholly, or in part, the offer by other offers, whether similar to the offer or not, or to withdraw it altogether at any time, without prior notice.
BFL reserves the right to extend or terminate this program at its sole discretion.
The rewards earning system shall follow an anniversary year (365 days) of rewardearning, however, certain Reward Program Schemes may stipulate expiry of Bajaj Coins as per the Reward Program Schemes terms and condition.

3. UTILIZATION OF BFL REWARD PROGRAM:

(a) Criteria for Bajaj Coins Redemption:

(b) Customer understands that he / she can redeem the Bajaj Coins, either by:

Making transactions using a debit/credit card/UPI/PPI over the Bajaj Finserv App.
carrying out bill payment transaction like make bill payment for electricity or LPG or water bill etc by converting coins in cashback. Rate of conversion of Bajaj Coin is 0.2 i.e., 1 Bajaj coin is equal to 20 Paisa; or
converting Bajaj Coins into cashback (which gets credited in sub wallet) through Bajaj Finserv App. Rate of conversion of Bajaj Coin is 0.2 i.e., 1 Bajaj coin is equal to 20 Paisa. Minimum Coin Balance should be 250; Once Bajaj Coins gets converted as cashback into sub-wallet, it can’t be converted back into Bajaj coins; or
purchasing 3rd party vouchers through Bajaj Dealz. Minimum coin balance should be 100.
Bajaj Coins can be burned / Redeemed only by carrying out valid transactions over Bajaj Finserv App as mentioned above.
Rewards cannot be withdrawn as cash, transferred to bank account or any other wallet.

500 Bajaj Coins in a single transaction.
2000 Bajaj Coins in a calendar month.

(d) Customers to note that Maximum Bajaj Coins redemption limit while purchasing Vouchers over Bajaj Dealz shall be:

500 Bajaj Coins in a single transaction.
2000 Bajaj Coins in a calendar month.

(e) Customers to note that Maximum Bajaj Coins redemption limit while carrying out Bill Payment Transaction over Bajaj Finserv App and Website shall be.

500 Bajaj Coins in a single Bill Payment transaction.
2000 Bajaj Coins can be redeemed in a month.

(f) Bajaj Coins cannot be used for:

Payment of investment (FD etc)
Payment of loan (EMI)
Payment of Loan processing fee.
Repayment of overdue loan
Payment for insurance
Payment for pocket insurance
Payment for purchase of add-ons/deals in Bajaj Finserv App

(g) BFL Reward Program criteria for delinquent and fraud customers:

If BFL has suspicion or knowledge that any Customer has been involved in any fraudulent or illegal activity either directly or indirectly, BFL reserves the right to disqualify such Customer or mark such account as suspect fraud.
Such customer shall not be able to earn or redeem any reward during such disqualification period.
BFL may exercise discretion to forfeit any reward earned by such customer prior to disqualification as well.
BFL reserves the right to fix maximum threshold of Bajaj Coins / Cashback earning and redemption.
BFL reserves the right to disqualify a customer if he/she has been found delinquent basis BFL policy. Such customers will not be eligible for the rewards program.

4) Eligibility:

Your entitlement of availing the Program(s)/Reward Program shall be subject to fulfilling the eligibility criteria which will be available and displayed along with each and every BFL Products / Services as binding on YOU provided:

(a) You have successfully downloaded and installed the Bajaj Finserv App

(b) You have successfully registered and completed you profile details to use the Bajaj Finserv App

(d) You are NOT flagged as a fraud customer under rewards program

BFL at its sole discretion, may grant goodwill points to the Customer, if such customer satisfies the criteria as laid down by BFL team. Goodwill points could be given in following scenarios:

Customer did not receive his reward.
Mismatch of issuance of rewards;

5) Process of Claim / Utilization Reward Program Schemes:

The process of claim shall be available along with the terms of use of various Reward Programs offered and the same shall be binding on YOU in addition to the Terms herein, if YOU proceed to claim the Program benefits as per the Reward Program Scheme.

6) GRIEVANCES REDRESSAL:

You shall take recourse to the dispute or grievances redressal procedures as stipulated in respective Reward Program Schemes for effective redressal of Your grievances, if any. For any queries related to the Program, feel free to connect with our dedicated customer service team which can be reached at wecare@bajajfinserv.in.

7) NO EXCHANGE:

BFL shall NOT entertain any request for exchange of Reward Program Schemes.

8) REWARD PROGRAM SCHEME IN PROCESS:

There may be certain events where the reward earned by the customer is in a locked state and unlocking of reward depend upon fulfilment of certain event. In such a scenario, the reward would get unlocked and available for redemption only after successful completion of the stipulated event. For example: A customer earned a reward for creation of a Bajaj Pay Wallet, however such a reward is locked as redemption of such a reward is dependent upon a subsequent activity like money being loaded into the Bajaj Pay Wallet by the customer. Customer can access the locked rewards through ‘rewards in process’ section of the Bajaj Finserv App.

9) EXTENSION / CANCELLATION / WITHDRAWAL OF REWARD PROGRAM SCHEME:

BFL reserves the right to extend or cancel, withdraw or terminate any Reward Program Scheme without prior notice to YOU.

10) BFL reserves the right, to add / alter / modify /change or vary all of these terms & conditions or to replace wholly, or in part, the offer under Reward Program Schemes by other offers, whether similar to the offer or not, at any time, without prior notice.

11) The offers under Reward Program Schemes, unless specifically mentioned, cannot be combined with any other offers under Reward Program Scheme.

12) Customer understands that all applicable taxes, fees and levies (excluding ‘gift’ tax or tax deducted at source, where applicable) shall be solely borne by the Customer.

13) Whenever it is found that the Customer has provided any incorrect / false / misleading information at the time of registration for availing the Reward Program Schemes and/or at the time of collecting his/her reward Program benefits, then BFL shall have the right to cancel his / her entitlement / registration.

14) Customer acknowledges that BFL is not a supplier/manufacturer/issuer of the products purchased by Customer in order to earn Reward Program Schemes and will not accept any liability in relation thereto pertaining to the quality, merchantability or the fitness for any purpose or any other aspect of the products or reward Programs provided by third parties.

15) BFL, its group entities/ affiliates or their respective directors, officers, employees, agents, vendors, etc., shall not be liable for any loss or damage whatsoever that may be suffered, or for any personal injury that may be suffered by a Customer, directly or indirectly, including for reasons arising out of use or non-use of products / services or participation in order to avail the benefits of any Reward Program Scheme in any manner what so ever.

16) BFL shall not be liable for termination or delay or non-availability of any Reward Program Scheme’s benefits due to any force majeure event (pandemic situation / system failure) and will not be liable for any consequences whatsoever.

17) In addition to these Reward Terms herein, the Terms of Use and terms and conditions of respective offers under respective Reward Program Schemes, shall be applicable and will be binding on You. By participating in Reward Program Schemes, YOU shall be deemed to have read, understood and unconditionally accepted the terms and conditions herein.

18) Disputes, if any, arising out of or in connection, with or as a result of the Reward Program Schemes, shall be subject to the exclusive jurisdiction of competent courts at Pune.

19) These Reward Terms shall be governed by the Laws of India.

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