Axis Bank Report

AXIS BANK Saving Accounts

Axis Bank has a wide range of savings account to make your banking transactions easy and to cater different needs of various sections of society.

Bank has Zero Balance Savings Account in which you do not have to maintain an average quarterly balance. Krishi Savings Account for farmers to allow financial transactions immediately in the time of need. EasyAccess Savings Account for instant access to your money anywhere, anytime. Azaadi Account is a NO FRILL account. No need to maintain a fixed, mandatory amount in your account. Prime Savings account has been created keeping in mind your specific financial requirements to give wider accessibility. Senior Citizen Savings Account has been created to make banking transactions easy and cater all their requirements. Corporate Salary Account is for employees offering payroll solutions through a 24 X 7 environment. Smart Privilege Account, is for woman of today so that she can manage money easily along with host of lifestyle privileges. Power Salute Savings Account is for defence forces to extend a helping hand to our soldiers for all their financial needs. Trust/NGO Savings Account is a complete banking solution for Trusts, Associations, Societies, Government Bodies, Section 25 companies and NGOs who spend their time to help others. Pension Savings Account has been generated for pensioner’s (existing & prospective) of Central Govt. Civil Ministries/ Departments & Defence Ministry to cater their needs as they require special consideration.

EasyAccess Acount Power Salute

Prime Savings Account Salary Power

Smart Privilege Account Senior Privilege

Azaadi - No Frills Trust/NGO Savings Account

INTRODUCTION TO THE PROJECT

As a part of curriculum the students of MBA have to undergo Summer Internship

Program (SIP). Wherein a student gets the knowledge about practical life, how the

work is done in companies, how to get acquainted with working conditions and

other many such things, etc. The main aim behind this program is that students get







Azaadi - No Frills Trust/NGO Savings Accountsome experience with which they can get assistance while searching the job. This

program is generally provided by a company and it lasts for at least two months.

Students as per their specializations could apply for SIP and get the opportunity to

work in a company, which the college suggests.

As a management student I also have to undergo SIP. I got the opportunity to

complete this program in AXIS BANK LTD., for nearly two months. Axis bank is







Azaadi - No Frills Trust/NGO Savings Accountone of the leading BANKS in banking sector in India.Our training started with the

session of information about bank product,what is the meaning of the concepts,

importance of sales and marketing. The objective of the project is The

Comparison Between The Saving Account Products Of AXIS Bank and

HDFC Bank.







Azaadi - No Frills Trust/NGO Savings AccountThe methodology involved in this research work consists of interacting people

through surveys to know about their views of their respective banks, tele

communication with the AXIS BANK customers and a group work to prepare the

questionnaire.








Hold Statement Rs. 400 per year

Passbook issuance* Free








Duplicate passbook issuance* Rs 100/-

Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations

DD request through Branch

Upto Rs. 10,000

Rs. 50Rs. 40 (Senior Citizens / Individuals in Rural areas)Rs. 30 through Phonebanking








Above Rs.10,000 & upto Rs. 50,000

Rs. 75 (Rs. 30 through Phonebanking)Rs. 60 (Senior Citizens / Individuals in Rural areas)

**Only DD amount upto Rs 100,000 for Preferred & Rs 50,000 for other customers accepted at Phonebanking








Above Rs. 50,000 & upto Rs. 1 Lakh

Rs. 2.50 per 1000 or part thereof (Min Rs. 150)

Above Rs. 1 Lakh

Rs. 2 per 1000 or part thereof (Max Rs 10,000/-)

DD request through Netbanking

Upto Rs. 1 Lakh Rs .30+(Corr. Bank charges if








applicable)

Third party DD* upto Rs. 1 Lakhs

Rs .30+(Corr. Bank charges if applicable)

(*Third Party Registration required.Customers registered for Third Party Transfers have a maximum limit of 10 lacs per cust id and hence can issue multiple DDs of 1 lacs upto 10 lacs and send it to the beneficiary address)








Managers Cheque/Demand Drafts - Cancellation / Revalidation

Rs. 50Rs. 40 (Senior Citizens / Individuals in Rural areas)

Demand Drafts- Issued - On Non HDFC Bank Locations

Rs. 50 plus charges as outlined below:

Upto Rs. 500 Rs. 10

Above Rs. 500 to Rs. 15








Rs. 1000

Above Rs. 1000 to Rs. 5000

Rs. 25

Above Rs. 5000 to Rs. 10,000

Rs. 30








Above Rs. 10,000 to Rs. 1 Lakh

Rs. 3 per 1000 or part thereof

Above Rs. 1 LakhRs. 6 per 1000 or part thereof (Min Rs 300 - to Max Rs 10,000/-)

Cheque Collection - Local Clearing Zone

Free








Collection of outstation cheques - our bank locations

Charges for cheques drawn on Branch locations

Regular Savings Account

Upto Rs 10,000 "Rs. 50/-, Rs. 40/- for Rural branches"

Rs. 10,000/- to Rs. 1,00,000/- Rs. 100/-

Rs. 1,00,001/- and above Rs. 150/-








Photo Attestation Rs. 50

Signature AttestationRs. 50Rs. 40 (Senior Citizens / Individuals in Rural areas)

Address Confirmation Rs. 50

Stop Payment Charges Particular Cheque - Rs. 50 (Free through Phonebanking),








Range of Cheques - Rs. 100 (Free through Phonebanking)

Cheque status per instance Rs. 25

Standing InstructionsSetting up Rs. 150, Rs. 25 per transcation plus remittance charge

Unarranged overdraft Rs. 100 per occasion + 18% interest pa

Old records/copy of paid Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100 per








cheques record

Activation of dormant account

No charges

Branch transactionsFree

3 free in the qtr & Rs. 60 per additional transaction on non-maintenance of Min balance (cash deposit/withdrawal)








Cash transactions5 cash transactions at branch will be allowed free per month. Every additional transaction will be charged @ Rs 100 per transaction effective 1st July 2010

Interbranch transactions through teller counters - Funds Transfer

Free








Interbranch transactions through teller counters - Cash transactions.

Upto Rs. 50,000/- free per day, Above Rs. 50,000/- Rs 2.90 per 1,000/- on the full amount.

Third party cash transactions at non-home branches through teller counters

Upto a limit of Rs.50,000 per day - Rs.100 (plus taxes). Above Rs.50,000 - Not allowed

Third party cash transactions Free of charge








at home branch through teller counters

Local Cheque deposited for outstation accounts

No Charge

Phone banking - IVR Free

Phone banking - Non IVR Free








Rs. 50 per call on non maintenance of Min balance for transactions that are available on IVR but are done through the Phone Banking executive

ATM Card Free

ATM Card - Replacement charges

Rs. 100 (plus taxes)








ATM Card - Transaction charge for Partner banks - SBI & Andhra Bank

Balance enquiry - FreeCash withdrawal - 5 free cash withdrawal transaction per month at Non-HDFC Bank ATM. Additional transaction done at Non-HDFC Bank ATM - Rs 20/- per transaction.Per transaction limit will be Rs 10,000/-

ATM Card - Transaction NA








charge for Non-Partner banks

Debit Card - Annual Fee - Regular

Rs. 100 per year (plus taxes)

Debit Card - Annual Fee – Gold


Debit Card - Annual Fee - Rs.100 per year (plus taxes)








Women's Card

Debit Card - Renewal Fee - Regular


Debit Card - Renewal Fee – Gold


Debit Card - Renewal Fee - Rs.100 per year (plus taxes)








Women's Card

Debit Card - Replacement charges

Replacement of a damaged card - No charges & Replacement of a lost card - Rs. 100 (plus taxes) (for all card types)

Debit Card - Transaction Charge - HDFC Bank ATMs

Free








Debit Card - Transaction Charge - Non HDFC Bank Domestic ATMs

Balance enquiry - FreeCash withdrawal - 5 free cash withdrawal transaction per month at Non-HDFC Bank ATM. Additional transaction done at Non-HDFC Bank ATM - Rs 20/- per transactionPer transaction limit will be Rs 10,000/-

Debit Card - Transaction Rs. 15 per balance enquiry & Rs. 110 per cash withdrawal








Charge - Non HDFC Bank International ATMs

(plus taxes)

PIN regeneration charge Rs. 25 (plus taxes)

Decline charge for insufficient balance

Transactions declined at other Bank ATMs anywhere in the world or at a Merchant outlet outside India due to insufficient funds will be charged at Rs. 25 per transaction (plus taxes)








Add-on Debit Card - RegularRs. 100 per year (plus taxes) - One add-on card free for the first year

Add-on Debit Card - Gold Card


Add-on Debit Card - Women's Card

Rs.100 per year (plus taxes)








BillPay Rs. 25 (plus taxes) per qtr per Customer ID

InstaPay Rs. 10 (plus taxes) per transaction

InstaAlert Free

Visa Money Transfer Rs. 20 (plus taxes) per transaction

NEFT Charges - Inward NIL

NEFT Charges- outward Upto Rs. 1 lac. - Rs. 5 (inclusive of taxes) per transaction








Rs. 1 lac and above - Rs. 25 (inclusive of taxes) per transaction

NEFT Charges for Indo Nepal transactions

Customers having NSBL*A/c - Rs 20/-Customers having Non-NSBL* A/c:Upto Rs 5,000 - Rs 70/-Above Rs 5,000 - Rs 95/-* Nepal State Bank Ltd








RTGS - Outward

Through Branch -Rs.1,00,000 to Rs.5,00,000 -Rs.25/-,Rs.5,00,000 and above - Rs. 50/-Through Netbanking:- Rs. 25 (inclusive of taxes) per transaction

RTGS - Inward NIL

Mobilebanking NIL








Netbanking Free

ECS (Debit) Return Charges Rs 200 (plus taxes)








RESEARCH METHODOLOGY PROCESS/METHODOLOGY OF STUDYBank basically means business and in business collection of raw data allows the

managers to see the real scenario and then take a decision as per the data obtained.

There are several implications in this statement:

The bank gets a clear picture of the Savings Account scenario.







Azaadi - No Frills Trust/NGO Savings Account They can examine the available information in the form of data to make a

decision

They can even get a clear picture of the scenario or potential of the Savings

Account of their banks in comparison to other banks.

This will help the bank in making any decision.







Azaadi - No Frills Trust/NGO Savings Account The information can only be gathered by data collection and then analyzing

the available data.

Therefore, it can be said that the data collection is an important

part of the project.

DataRaw numbers

Information








The projected objectives were considered and as per the requirement a

market survey was done.

Procedure:

The procedure that followed can be enlisted as below:

Reading about the product







Azaadi - No Frills Trust/NGO Savings Account Deciding on the objective to proceed.

Developing Survey instruments

Conducting personal interviews of different age-groups, sex, monthly income

and occupation.

Finally analyzing the data of various areas and trying to study with the other

banks.







Azaadi - No Frills Trust/NGO Savings Account Process adopted:

1. Gaining knowledge about the product:

Reading about the product was the first step undertaken. This

gave not only in depth knowledge about what is been offered by the bank but

also proved useful while developing the questionnaire.







Azaadi - No Frills Trust/NGO Savings Account2. Steps in the Development of the Survey Instruments

The main instruments required for survey was a well-developed

questionnaire. The questionnaire development took place in a series of steps

as described below:

Research objectives are being transformed into information objectives.

The Appropriate data collection methods have been determined







Azaadi - No Frills Trust/NGO Savings Account The information required by each objective is being determined.

Specific Questions/Scale Measurement format is developed.

Question/Scale Measurements is being evaluated.

The number of information needed is being determined.

The questionnaire and layout is being evaluated.

Revise the questionnaire layout if needed.







Azaadi - No Frills Trust/NGO Savings Account The Questionnaire format is being finalized.

3. Customer Survey:

The people play an important part as a clear perception of

people about the product can be estimated and known. Studying the need levels

of the people regarding the banking product can be observed. It was very useful

in knowing about the requirements of the people.







Azaadi - No Frills Trust/NGO Savings Account4. Referred to brochures and websites of competitors: To understand the

competitors product brochures and websites of various banks were referred

and a competitive analogy of all the rates and necessary features of the

Savings account is been made.

Research Design:







Azaadi - No Frills Trust/NGO Savings AccountA two stage Research was conducted:

1. Secondary Research:

Data was collected from websites and catalogues to understand the product and

the charges of the different bank

2. Primary Research:

A Primary Research was conducted:







Azaadi - No Frills Trust/NGO Savings Account The questionnaire was prepared for the companies and following areas

covered:

Competing Banks

Features offered by different banks

Consumer profile

Satisfaction level with the current bank







Azaadi - No Frills Trust/NGO Savings Account Reason for the selection of specific Bank

Desirable features of the product

Sampling Plan:

Elements:

The target population of the study included the general population above the

age of 18 yrs







Azaadi - No Frills Trust/NGO Savings AccountSample area: Lucknow

Sample size: 100 people.








DATA COLLECTIONSData Collection Plan:

The first of Research consisted of secondary data search from the following

sources:







Azaadi - No Frills Trust/NGO Savings Account Catalogues

Websites

In this, information about different banks, different features the banks are offering

to employees under salary accounts and general market standing of different banks

were collected.







Azaadi - No Frills Trust/NGO Savings AccountFor the conclusive research, questionnaires were developed on the basis of

secondary data to gather information on the research objective.

A pilot study was conducted to test these questionnaires. In this sample of 10

people was picked up from the target population on convenience basis, so as to

determine the limitation and deficiencies in the questionnaires.







Azaadi - No Frills Trust/NGO Savings AccountThe final draft of the questionnaire (see Appendix) was then prepared on the basis

of the observations from the pilot study. These were then finally filled by 100

consumers, for the conclusive study.

Finally the data collected was fed into the data analysis software- SPSS, to be

analyzed using statistical techniques like: frequencies, means etc.

Types of Primary Data collected:







Azaadi - No Frills Trust/NGO Savings Account Demographic /Socioeconomic Characteristics:

Demographic and socioeconomic characteristics are sometimes called

“states of being” in that they represent the type of people. The factors on which we

are working are age, sex and occupation. Monthly income is also an important

parameter but it is difficult to verify. Although the amount of money that an







Azaadi - No Frills Trust/NGO Savings Accountindividual earns in a month is an absolute, not a relative quantity but it is a

sensitive topic in our society and it is difficult to determine.

Attitudes/Opinions:

Through the questionnaire we have tried to get hold of individual’s

preference, inclination and requirement from the products that the bank delivers to







Azaadi - No Frills Trust/NGO Savings Accountit’s customer. Attitude is an important notion in the marketing literature, since it is

generally thought that the attitudes are related to the behaviour of individual.

Awareness/Knowledge:

They are used in marketing research refers to what respondents do or do not

know about the product. For instance, here we have tried to find out the market

awareness regarding the new product of the bank







Azaadi - No Frills Trust/NGO Savings Account Intentions:

A person’s intentions refer to the individual’s anticipated or planned

behaviour. We have tried to find out through the collected primary data the

intentions of the people in general about the product called Savings account. In this

project we have segregated the people as per their intentions about the Savings







Azaadi - No Frills Trust/NGO Savings AccountAccount of Axis bank. The intentions gathered are divided into the following

groups:

1. Definitely would like to bank with axis bank

2. Probably would like to bank with axis bank

3. Undecided

4. Probably would not like to bank with axis bank







Azaadi - No Frills Trust/NGO Savings Account5. Definitely would not like to bank with axis bank

Motivation:

Through the questionnaire we have tried to find the hidden need or want of

an individual and have tried to find if these people can be tapped as the potential

customer for Axis Bank.








Behaviour:

Behaviour concerns what subjects have done or are doing. Through the

questionnaire we have tried to find out the behaviour of the individuals

regarding the product and their responses. If the responses are favourable then

the person can be said to be our potential customer. The primary data serves as







Azaadi - No Frills Trust/NGO Savings Accountan important tool to measure the behavioral trend of the customer. It helps in

answering few vital questions like:

How much an individual would keep in his/her Savings Account?

When would he like to open an account?

Where would an individual like to open an Account?

What is he looking for in an Account?







Azaadi - No Frills Trust/NGO Savings Account Thus, it helps to draw a comparison between the Purchase and the

bserved behaviour of the individuals.

Obtaining the Primary Data:

The data collection was primarily done through communication.

Communication involves questioning respondents to secure the desired

Communication

Degree of structure-Structured

Degree of disguise-Undisguised

Method of Administration-

Personal Interview







Azaadi - No Frills Trust/NGO Savings Accountinformation, using a data collection instrument called questionnaire. The

questions were in writing and so were the responses.








Versatility:

It is the ability of a technique to collect the information on the many types of

primary data of interest to marketers. It has also been found that some of the







Azaadi - No Frills Trust/NGO Savings Accountpeople do not answer truthfully to all the questions especially in the case of the

personal details.

Limitations There was difficulties/obstacle faced during the initial part of the project,

which were however overcome successfully. To list:-








1. It was difficult to break the ice with the common people initially. It was a

daunting task to convince them to fill in the personal details of the

questionnaire where they have to mention the monthly income, occupation

and minimum amount in their Savings Account.

2. To convince the people for a proper interviewing process is also difficult.







Azaadi - No Frills Trust/NGO Savings Account3. The competitor analysis in the manual could only be compiled for a rough

idea to the nature of the product. The product features and charges keep o

changing on a frequent basis.

4. Compilation of data on competitor analysis was difficult due to non-

availability of correct information.

5. Respondent does not fill the questionnaire seriously.







Azaadi - No Frills Trust/NGO Savings Account6. They do not give accurate answer of the question.

7. Many customers hide the information then analysis is very difficult.

8. If scaling techniques are used then they are not give right answer.

9. Sometimes, some respondents do not answer the question to the point,

which creates difficulty in further evaluation of the project.

10. Many respondents answer the question indirectly.







Azaadi - No Frills Trust/NGO Savings Account11. In complete answers, where there from the respondent’s side which,

creates problem in the evaluation.

12. It was very difficult to know deeply about the brand preferences by the

customer.








COMPARATIVE ANALYSIS OF SAVING ACCOUNT PRODUCTS OF AXIS BANK WITH HDFC BANK

Comparison Chart

Comparison of Saving Account fees & charges of AXIS Bank with HDFC Bank








Description of charges Axis Bank HDFC BankMinimum Balance(Average Quarterly

Balance

Rs. 5000/- (Metro/Urban)

Rs. 2500/- (semi/urban)

Rs. 1000/- (Rural)

Rs. 10000 (Metro/Urban) Rs. 5000/-

(semi/urban) Rs. 2500/- (Rural)







Azaadi - No Frills Trust/NGO Savings AccountCheque Book Free - 20 Cheque

Leaves per Qtr. Saving Account

above 1 cheque book per quarter Rs. 50/-

Free - 25 Cheque Leaves per Qtr.

Saving Account above 1 cheque book per quarter Rs. 50/- per cheque book & Rs. 5/- per leave on non maintenance of minimum balance







Azaadi - No Frills Trust/NGO Savings AccountAccount Statement Rs. 50/- for monthly

& Quarterly statement

Account Statement Free monthly statement to be call from branchQuarterly statement sent by post

Adhoc statement Rs. 50/- per statement Rs. 100/- at branch, Rs. 50/- per statement through phone banking







Azaadi - No Frills Trust/NGO Savings Account(non-IVR) & ATM, Rs. 30/- per statement through net banking, phone banking (IVR) & mobile banking

Charges on non maintenance there of metro/urban branch

Metro/ urban branch ( AQB less than Rs. 5000/-) - Rs. 750/- per quarter

Metro/urban branch (( AQB less than Rs. 10000/-) - Rs. 750/- per quarter







Azaadi - No Frills Trust/NGO Savings Account semi-urban branch

(AQB less than Rs. 2500/-) - Rs. 750/- per quarter

Rural branch semi-urban branch (AQB less than Rs. 1000/-) - Rs. 500/- per quarter

semi-urban branch (AQB less than Rs. 5000/-) - Rs. 750/- per quarter

Demand Draft Drawn On Axis Bank Nil







Azaadi - No Frills Trust/NGO Savings AccountCenter Rs. 2.50/Rs. 1000 Or Part there of (min Rs. 50/- max Rs. 10000/-)

Drawn on other center Rs. 2.50/ Rs 1,000 (Min Rs. 50/-)

Drawn on other center Rs.50 Plus Charges as outlined below Up to Rs. 500 _ Rs 10Above Rs.500 _ Rs 15 Above Rs 5000 _ Rs 30 to rs. 10000Above Rs. 10000 to-Rs 3 per 1000 or part their of







Azaadi - No Frills Trust/NGO Savings AccountAbove Rs. Lakh Rs. 6 per 1000 or part their of (min Rs. 300 to Max Rs. 10000

Mobile Banking Rs. 90/-per annum NilDebit card Annual fees Metro/

urban Rs. 95 Semi urban Rs.95

Annual fees Regular - 100 per taxes

womens card 100 per







Azaadi - No Frills Trust/NGO Savings Account Gold Debit card Replacement Charges Metro/Urban Rs. 95 Semi Urban Rs. 95 Gold Debit cash Rs.

250

year taxes

Gold 500 per year (Plus taxes

Replacement Charges replace of a damaged

Card -No Charges and Replacement

of a lost Card Rs. 100







Azaadi - No Frills Trust/NGO Savings Account(Plus Taxes for all card types)

Debit card - Transaction Charges

Axis Bank ATMS Metro- Nil Gold Debit Card-Nil At visa/ master card

enabled ATMS of Partner Banks in India;

At HDFC Bank ATMS -Nil

Balance Inquiry-Free Cash Withdrawal- 5 Free Cash drawal Transaction

per months at non -HDFC Bank ATM- Rs. 20 per







Azaadi - No Frills Trust/NGO Savings Account Cash withdrawal Metro/Urban-Rs 30 Gold Debit Card-Nil Balance Inquiry Metro/Urban-Rs 10 Gold Debit Card-Nil At other Visa/master

card enabled ATMS in India

transaction Per Transaction Limit

will be Rs. 10000 Non HDFC Bank

International ATMS Rs. 15 per balance enquiry

Rs. 10 per Cash withdrawal (Plus Taxed)







Azaadi - No Frills Trust/NGO Savings Account Cash withdrawal Metro/Urban Rs. 50 gold Debit card - Nil Out side India cash Withdrawal Metro/Urban - Rs.

125 Gold Debit card- Rs.

125







Azaadi - No Frills Trust/NGO Savings Account Balance Inquiry Metro/Urban-Rs. 25 Gold Debit card -Rs.

25Duplicate pin Metro/Urban-Rs 50

Semi/urban Rs. 50 Gold Debit card -Rs.

50

Rs-25 (plus Taxes)















ANALYSIS AND INTERPRETATION

Age group of respondent Inclined to Savings:








34%

24%

30%

12%

20-30 30-40

40-50 Above 50








Interpretation:-

The above respondent data table (1A) shows that, Many interviewed respondents

belong to the age group of 20-30, 34 % of the respondents belong to this age

group.24% of respondents belong to age group 30-40,is more interested into







Azaadi - No Frills Trust/NGO Savings Accountsavings under this segment of age limit. Hence any marketing technique adopted

by Bank should focus on this age group.








Monthly Income of the respondents:















32%

38%

24%6%

Less than 1000010000-2000020000-30000Above 30000








INTERPRETATION:-







Azaadi - No Frills Trust/NGO Savings AccountThe above data information show that, the maximum respondent belong to the

monthly income between 10000-20000, 38% of the respondents belongs in the

monthly income of 10000-20000& 32% of the respondent belong in to the monthly

income of less than10000,these showing a greater interest of respondents in

Savings account under this segment of monthly income.








The occupation of the respondents:















12%

22%

66%

Government Service

Businessman

private








INTERPRETATION:-







Azaadi - No Frills Trust/NGO Savings AccountThe above respondent data show that the 66% of the respondents are private

employee’s uses Savings account. Hence Bank should care look after the needs

and requirements of the private employee towards saving account. Hence any

marketing technique adopted by Bank should focus on this Occupation group.








Reason for selecting the bank















10%

25%

8%

46%

11%

Mobile banking

Network of Bank

Security of Money

Location & ATM

Goodwill of Bank








INTERPRETATION:-

After examining the data we found that most of the respondents said that reason

was Location & ATM of the Bank to open account.















Which bank do you posses?








42%

30%

28%

AXIS Bank

HDFC BankOther








INTERPRETATION:-

The above graph gives the information about the bank preferred by the respondents

in the survey.







Azaadi - No Frills Trust/NGO Savings AccountFrom the survey, 42% of respondents were having a Saving Bank Account with

Axis bank; 30% were having account with HDFC Bank and 28% were having

account with other banks like SBI, PNB, ICICI Bank etc.








What do you like in your bank?








45%

30%

5%

10%5%

5%

More branchesMore ATMsBetter ROIBetter ServicesConvenienceOther








INTERPRETATION:-

The above pie chart shows the reason for having a bank account in their preferred

bank.







Azaadi - No Frills Trust/NGO Savings AccountMost of the respondents i.e. 45% like their bank because of the availability of bank

branch; 30% prefer their bank because of having ATM near their place; 10% for

better services like issuing cheque books whenever required etc; however rate of

interest, convenience and other reason is been preferred by only 5% of the

respondents








Value added services















12%

36%

16%

12%

24%

Door Step Banking24 hour BankingPhone BankingExtra WithdrawalMobile Banking








INTERPRETATION:-







Azaadi - No Frills Trust/NGO Savings Account The banking value added services used by customer are

door step banking and 24 hour banking.








Opinion against AQB















68%

32%

Yes No








INTERPRETATION:-

After examining the data we found that most of the respondents think on the AQB

before open account.








Respondents’ Association With Organisations








12% 8%

21%

5%15%

12%

10%

18%

SBIPNBAXIS BANKBANK OF BARODAHDFCICICIUNION BANKOTHERS








INTERPRETATION:-

From above 35% of the respondents prefer having account with public sector

banks out of which SBI holds 12% of respondents, PNB with 8%,Union bank 10%

and Bank of Baroda is with the least of 5% of respondents.







Azaadi - No Frills Trust/NGO Savings AccountHowever there are 65% of respondents who have association with private sector

banks out of which 22% is for Axis Bank, 15% for HDFC Bank, 10% for ICICI

Bank, 18% with other banks like UCO Bank, Bank of Maharashtra, Kotak

Mahindra, Yes basnk etc.








CONSTRAINTS FACED BY AXIS BANK 1. Unable to meet the demand of the customers.Axis bank is not able to fullfil

the demands of the different customers.







Azaadi - No Frills Trust/NGO Savings Account2. Credit card problems,is also one of the constraints of Axis bank.

3. Net banking services is the area of concern for the axis bank. It is not

effective as compared to other banks.







Azaadi - No Frills Trust/NGO Savings Account4. Phone banking- Charges deducted for the customers who had already

activated their phone banking options in their account and customers are not

informed about that i.e they do not receive any message in their cell

phones.

5. Incorrect withdrawl from ATM by using another bank ATM card.








6. Lot of deduction is done by the bank in the name of the consolidated charges

and customers are not informed about it or not given any information about

it.








FINDINGS & CONCLUSIONS

This project on “ comparison of savings account of axis bank with HDFC

BANK” helped to analyze and understand the trends of BANKING industry and

the savings account of Axis bank in Lucknow. With the help of the research and







Azaadi - No Frills Trust/NGO Savings Accountsurvey conducted, it was tried to adjudge competitiveness of Axis bank in

Comparison with the HDFC bank.

Banking industry is growing very fast in India and so is Lucknow. Axis bank is a

strong player of this industry. The competition in banking sector is very high and

each and every area of service matters equally. Axis bank has strongly positioned

itself for accelerating market growth. HDFC and ICICI being the strongest







Azaadi - No Frills Trust/NGO Savings Accountcompetitors, Axis bank is required to work on its weaknesses and grab the

opportunities beforehand to maintain and improve its market position in the

banking sector.

A detailed study of the comparison of savings account of axis bank with HDFC

BANK have been executed which will give an insight as to what is lacking in the

plans of Axis bank and what could be done to improve them. After examining the







Azaadi - No Frills Trust/NGO Savings Accountdata we find that most of the respondents think on the AQB before open account.

MAQB of Axis Bank is less than HDFC BANK which is a major reason of

opening an account in Axis Bank

The survey gives the idea about the strength and weaknesses of the services

provided by Axis bank to their customers regarding savings account and current

position of Axis bank .








BIBLIOGRAPHYBooks

I. Gupta, C.B , Marketing research, Sultan Chand & sons.

II. Malhotra, Naresh (2008), Marketing Research” , Pearson Education.

III. Business Research Methods, Tata McGraw Hill Edition








Websites

http://www.slideshare.net/sidekick/banking-industry-overview http://www.axisbank.com/ http://www.rupeetimes.com/compare/savings_accounts/axis_bank.html http://en.wikipedia.org/wiki/HDFC_Bank







Azaadi - No Frills Trust/NGO Savings Account http://www.rupeetimes.com/compare/savings_accounts/hdfc_bank.html http://www.axisbank.hk/serviceschargesandfees/serviceschargesandfees.asp http://www.indianbanksguide.com/service-charges/hdfc-bank-fees-charges-

for-regular-savings-account/















Date post:	31-Aug-2014
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Axis Bank Report

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