DISCLOSURE FOR MARKETING/ REFFERING OF MUTUAL FUND/ INSURANCE PRODUCTS & PRODUCTS OF OTHER FINANCIAL COMPANIES
The Bank is marketing / referring the products of various mutual fund / insurance / other financial companies under tie-up arrangements with the third parties for sale & distribution of their products.
Bank only acts as an agent of the customers, forwarding their applications for purchase / sale of mutual fund units to the Robo Advisory Partner (Fisdom)/ Asset Management Companies / Registrars / Transfer Agents. The purchase of units is at customers’ risk and without any guarantee or risk participation of the Bank.
The participation of the customers in any insurance products is purely on voluntary basis as the Insurance is the subject matter of solicitation. Marketing / Referring the Insurance products by the Bank should not be construed as an advice, an offer to purchase or an invitation or solicitation to undertake any activity or enter into the transaction relating to the Insurance Products. The contract of Insurance is between the Insurance Company and the insured, and not between Oriental Bank of Commerce and the insured.
Online Trading facility to the Demat account holders of the Bank is offered through its Online Trading Partners. The sale/purchase/other transactions of securities/mutual fund units through online trading partners are at customer’s risk and without any guarantee or risk participation of the Bank.
The Bank also offers SBI-OBC Co branded Credit Card to its customers and acts as an agent for facilitating the offering. The contract for credit card will be between the customer and SBI cards without any risk participation of the Bank.
Keeping in view the need for transparency in the interest of esteemed customers to whom the products are being marketed / referred, Bank makes the following declaration with regard to details of commissions / other fees (in any form) being received from its tie-up partners towards sale & distribution of their products without being liable or responsible for any loss or shortfall from the operations of the scheme of its tie-up partners.Click here for details.