Rewards and offers

Aspora Remittance Cashback Offer — Terms & Conditions (UAE)

23 October 2026

These Offer Terms are in addition to, and must be read with, the Aspora NRI Banking Services Terms (UAE) (https://www.aspora.com/legal/terms-of-use/ae/nri-banking-services) and the Aspora platform terms applicable to money transfers in the UAE. Capitalised terms not defined here have the meaning given in those terms.

1. The offer and the promoter

1.1 These terms (“Offer Terms”) govern the Aspora Reward offer (the “Offer”), under which eligible customers earn a cashback reward on qualifying money transfers made on the Aspora app, redeemable as set out in clause 4.

1.2 The promoter is Vance Technologies Limited, a company incorporated in the United Kingdom, having its registered address at 141 Curtain Road, 3rd Floor, London, England, EC2A 3BX (“Aspora”, “we”). The Offer is provided and funded solely by Aspora.

1.3 The Offer is an offer on remittance activity on the Aspora platform. It is not made, funded or endorsed by Shivalik Small Finance Bank Limited (the “Regulated Banking Partner”), and no reward is payable for opening a bank account. Money transfer services in the UAE are provided by Lulu International Exchange LLC, licensed by the Central Bank of the UAE; the Offer is not made or funded by Lulu International Exchange LLC.

2. Offer period and eligibility

2.1 The Offer runs from 23 October 2026 to 31 December 2026 (inclusive) (the “Offer Period”). Rewards can be earned only on transfers initiated and completed during the Offer Period.

2.2 The Offer is open to UAE-resident individuals aged 18 or over who hold an Aspora profile in good standing and are eligible to apply for an NRE/NRO account with the Regulated Banking Partner. The Offer is displayed in the app only to eligible customers; if the Offer does not appear in your app, it is not available to you. Employees of the Aspora group, of Lulu International Exchange LLC and of the Regulated Banking Partner, and members of their immediate families, are not eligible.

2.3 Participation is subject to these Offer Terms and to completion of any verification we or our partners require.

3. Earning the reward

3.1 Each qualifying transfer completed on the Aspora app during the Offer Period earns a cashback entitlement (“Reward”). The amount is variable and is shown to you in the app when it is earned.

3.2 A qualifying transfer is a remittance of at least AED 50 that completes successfully and is not cancelled, reversed, recalled or refunded.

3.3 The most you can earn under the Offer is ₹5,000 (approximately AED 210) in aggregate across all your transfers.

3.4 Each Reward is valid for 30 days from the date you open the Reward in the app (which is when the Reward amount is revealed to you), and the exact expiry date is shown in the app. The 30-day validity stops running once you complete the final step of your Account application (your digital signature); from that point your Rewards do not expire and remain redeemable in accordance with clause 4 on your First Qualifying Funding. If a Reward’s expiry date passes before you complete that final step, that Reward expires and no benefit is payable for it under the Offer.

3.5 Until redeemed, Reward is a conditional entitlement only: it is not money, electronic money, a stored-value facility, a balance or a deposit; it cannot be withdrawn, transferred or exchanged for cash; and it has no value outside the Offer.

4. Redeeming the reward

4.1 To redeem Reward you must: (a) open an NRE or NRO savings account with the Regulated Banking Partner through the Aspora app (your “Account”); and (b) make your first remittance into your own Account (the “First Qualifying Funding”).

4.2 On your First Qualifying Funding, the benefit of all unexpired Rewards will be provided by applying a preferential exchange rate to that transaction, so that the additional amount in Indian Rupees received into your Account is equivalent to your unexpired Rewards. The rate applied is shown to you before you confirm the transaction.

4.3 Opening of the Account is subject to the Regulated Banking Partner’s eligibility, KYC and approval requirements and remains at its sole discretion. Participation in the Offer does not guarantee that an Account will be opened; Aspora does not provide the Account and is not responsible, and no compensation or cash alternative is payable, where the Regulated Banking Partner declines or delays KYC, account opening or account activation. Where opening is delayed or declined for reasons not attributable to you, your Rewards remain redeemable in accordance with clause 3.4: having completed the final step of your application, your Rewards do not expire while the application remains pending.

4.4 If the First Qualifying Funding or the transfer that earned a credit is reversed, recalled or refunded, we may cancel the corresponding Reward or recover any amount already credited.

5. Key conditions

5.1 You may earn a Reward on each qualifying transfer during the Offer Period, and your Rewards accumulate up to the aggregate cap in clause 3.3. Redemption is limited to one per customer, per device and per Account: all unexpired Rewards are redeemed together on your First Qualifying Funding, after which the Offer ends for you and no further Reward can be earned or redeemed. Rewards are personal to you and may not be combined with other promotional credits on the same transaction unless the app states otherwise.

5.2 Reward is forfeited only: (a) on expiry under clause 3.4; (b) where the transfer that earned it, or the First Qualifying Funding, is cancelled, reversed, recalled or refunded; or (c) where we reasonably determine fraud or abuse of the Offer, including duplicate or multiple profiles or manipulation of transfers to generate rewards. We will not withhold or revoke Reward on any other ground, and redemption is not conditional on maintaining any minimum balance in, or holding, the Account for any period.

5.3 Any reward may be subject to tax depending on your individual circumstances; any such tax is your responsibility.

6. The NRI account — important information

6.1 The Account is provided by Shivalik Small Finance Bank Limited, a bank incorporated in India and licensed and regulated by the Reserve Bank of India, and is governed by its Account Terms (https://shivalik.bank.in/regulatory-section/terms-and-conditions/NRI-Accounts) and Indian law.

6.2 The Account is not a UAE deposit: it is not regulated by the Central Bank of the UAE, and no UAE deposit protection applies. Deposits are insured by DICGC (India) up to ₹5,00,000 per depositor per bank, including interest, subject to DICGC terms.

6.3 The Account is denominated in Indian Rupees; the value of your money in dirhams will rise and fall with the exchange rate.

7. Variation and withdrawal

7.1 Any change to the Offer applies only to transfers made after the change takes effect. Reward already earned, and transfers already initiated, are honoured on the terms in force when the transfer was made. Aspora may close the Offer to new transfers before the end of the Offer Period by notice on its website and in the app.

7.2 Reward validly earned before any change or closure remains redeemable on its original terms in accordance with clauses 3.4 and 4.

8. Privacy, marketing, complaints and general

8.1 These Offer Terms apply in addition to the Aspora NRI Banking Services Terms (UAE) (https://www.aspora.com/legal/terms-of-use/ae/nri-banking-services) and the Aspora platform terms applicable to money transfers/ remittance at https://www.aspora.com/legal/terms-of-use/ae/vance-technologies-limited, which are incorporated by reference. If there is any conflict in relation to the Offer, these Offer Terms prevail. Your Account remains governed by the Regulated Banking Partner’s Account Terms.

8.2 Your personal data is processed in accordance with the Aspora Privacy Policy (https://www.aspora.com/privacy-policy) and UAE Federal Decree-Law No. 45 of 2021 (PDPL), including: sharing with the Regulated Banking Partner for account opening and servicing; receiving your Account application and activation status from the Regulated Banking Partner to administer the Offer; sharing with Lulu International Exchange LLC to execute transfers; and transfers of your data to India, subject to the safeguards required by the PDPL.

8.3 Marketing communications about the Offer or the Account are sent only to customers who have consented to marketing, and every such message includes an unsubscribe option. Opting out of marketing does not affect service messages about Reward you have already earned.

8.4 Complaints about the Offer may be raised with Aspora at help@aspora.com. Complaints about the Account lie to the Regulated Banking Partner and, thereafter, to the Reserve Bank of India’s Integrated Ombudsman Scheme.

8.5 These Offer Terms are governed by the same law, and are subject to the same forum, as the Aspora platform terms applicable to money transfers in the UAE.