Legalv1.0.0

Terms and Conditions for ZulePay Fixed Deposits Distribution

Effective date: 9 September 2026 · Last updated: 9 September 2026 · Published by USR Enterprises Private Limited

Terms and Conditions for ZulePay Fixed Deposits Distribution

Last updated: 9 September 2026 · Version: 1.0.0 · Effective date: 9 September 2026

1. About this document

These terms ("FD Distribution Terms") govern ZulePay's distribution of fixed deposit ("FD") products of partner banks (each a "Bank") through the ZulePay app — presenting FD offers, collecting your booking request and funds, and transmitting them to the Bank. They apply in addition to the General Terms and Conditions ("General Terms"), the Wallet Terms, the Privacy Policy and the Cancellation & Refund Policy. If there is a conflict, the General Terms prevail unless these FD Distribution Terms provide otherwise. Capitalised terms used but not defined here have the meanings given in the General Terms.

2. The service and our role

  1. ZulePay acts as a distributor and intermediary of FD products of partner banks. ZulePay is not a bank and does not accept deposits. All deposits are placed with, and held by, the Bank in whose FD you invest.
  2. FD bookings are facilitated through arrangements permitted to the Bank under applicable law, including the RBI's guidelines on outsourcing and on partnerships between banks and non-bank entities for the sale of their deposits.
  3. The FD products, rates and partner Banks shown in the app may change from time to time. Showing an FD is not an endorsement or an assurance of returns.

3. FD terms are set by the Bank

  1. The interest rate, tenor, interest payout frequency, minimum and maximum amounts, and all other terms of an FD are fixed by the Bank and shown before you book. The rate applicable is the one prevailing at booking per the Bank's policy.
  2. The FD is a deposit contract between you and the Bank, governed by the Bank's own deposit terms, which you should read before booking.
  3. Interest is paid per the Bank's payout schedule; ZulePay does not guarantee any return on FDs.

4. Booking, funding and confirmation

  1. When you book an FD, the amount is debited from your Main Wallet (after any top-up you make) and transmitted to the Bank. A booking shown as "pending" is confirmed only on the Bank's acknowledgment; the FD advice/receipt is issued by the Bank.
  2. If a booking fails or the Bank does not confirm it, the amount is returned to your Main Wallet per the Cancellation & Refund Policy.
  3. KYC verification with the Bank (including PAN requirements) is mandatory for FD booking as per the Bank's process.

5. Deposit insurance

Deposits with each Bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to the statutory limit (currently ₹5,00,000 per depositor per Bank for principal and interest combined), subject to DICGC's terms. ZulePay has no role in, and no liability for, deposit insurance.

6. Premature withdrawal and maturity

  1. Premature withdrawal (breaking the FD early) is governed by the Bank's policy, including any penalty and revised interest; where supported in the app, we only forward your request to the Bank.
  2. On maturity or premature withdrawal, proceeds are credited by the Bank — to your Main Wallet where the arrangement so provides — per the Bank's timelines. Maturity proceeds shown in the app are indicative until credited.
  3. Renewal, if any, follows the Bank's renewal rules.
  1. By booking an FD, you consent to the sharing of your KYC and booking information with the chosen Bank for the limited purpose of opening and servicing the deposit, as required by the Bank's process.
  2. Our handling of your data is governed by the Privacy Policy; the Bank's handling is governed by its privacy policy.

8. Disputes and liability

  1. Disputes about interest payment, TDS, premature-withdrawal penalties, service or maturity proceeds are between you and the Bank; we will reasonably assist with routing your complaint to the Bank.
  2. ZulePay does not accept deposits, does not guarantee FD returns and is not liable for the Bank's decisions, acts or omissions, to the fullest extent permitted by law. Our liability, where it applies, is per the General Terms (Sections 24–26).
  3. Tax deduction at source on FD interest is the Bank's responsibility per income-tax law; please review the Bank's TDS disclosures.

9. Contact us

USR Enterprises Private Limited CIN: U62011KA2026PTC224718 VO-843, WeWork 10th Floor, RMZ Latitude, No. 69/458/69, Hebbal Kempapura, Bengaluru – 560024, Karnataka, India Email: support@zulepay.com · Phone: +91 95381 07745