Comparative Analysis of Saving accounts of different Banks

Summer Internship Project

On

Comparative Analysis of Saving accounts of Indusind

Bank with different Private Banks

Submitted by

Manoj kumar Shaw

Regd No. 1301247083

Course- PGDM ( 2013-15 )

Under the Guidance of

External guide Internal guide

Mr. Milan Ranjan Sahoo Asst. Prof. R K Mishra

(Branch Sales manager) (Faculty at RCM)

1

Chakadola Vihar, Chandrasekharpur, Bhubaneswar, Odisha-751023 INDIA

CERTIFICATE

This is to certify that Mr. Manoj Kumar Shaw, a student of Post graduate diploma in Management from Regional college of Management, Bhubaneswar has successfully completed his Summer internship project on the topic of Comparative Analysis of Saving Bank Account of Indusind Bank With different Private Banks.

2

REGARDS MR. MILAN RANJAN SAHOO (BRANCH SALES MANAGER)

.

CERTIFICATE

This is to certify that summer internship project entitled “COMPARITIVE ANALYSIS OF SAVING BANK ACCOUNT OF INDUSIND BANK WITH DIFFERENT PRIVATE BANKS” Carried out under the direction supervision of Asst. Prof .R K Mishra, And is accepted as partial fulfillment for the requirement of 3rd

Trimester PGDM at REGIONAL COLLEGE OF MANAGEMENT, Bhubaneswar, Odisha.

I am satisfied that He had worked sincerely and with proper care.

3

Summer internship Project Guide:-

Asst. prof. R K Mishra

( Regional college of

Management,Bhubaneswar)

DECLARATION

I am Manoj Kumar Shaw, a bonafide student of REGIONAL

COLLEGE OF MANAGEMENT, Bhubaneswar, pursuing POST

GRADUATE DIPLOMA IN MANAGEMENT, do hereby declare

that the study entitled “A comparative analysis of saving

accounts of different Banks”, is my authentic work, I have

completed my study under the guidance of Asst.Prof.

R.K.MISHARA, the Faculty Member, Regional College Of

Management, Bhubaneswar and my company guide Mr.Milan

Ranjan Sahoo (Branch Sales Maneger), IndusInd Bank,

Bhubaneswar,Damana. All the data furnished in this project

report are authentic and genuine and this report neither full

nor in part has ever been submitted for award of any other

degree to either this university or any other university

Manoj Kumar

Shaw

PGDM (2013-15)

4

Regd no.

1301247083

Regional College

of Management

Bhubaneswar,

Chakadola Vihar

ACKNOWLEDGEMENT

This project report bears the imprint of many people on it.

I am very much thankful to REGIONAL COLLEGE OF

MANAGEMENT, Bhubaneswar for the successful completion

of my SIP report

I would like to thank my project supervisor and guide

Assr.Prof. R. K. MISHRA, the Faculty Member, RCM,

Bhubaneswar, for his invaluable guidance and assistance in

preparing the project report and also contributing a lot for

accomplishment of this project.

I am highly indebted to Mr. Milan Ranjan Sahoo (Branch

sales manager), IndusInd Bank, Bhubaneswar, my corporate

guide, who guided me during the internship period and

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suggested many issues which has been taken care in my

project work.

I am also expressing my indebtedness to my parents and my

friends who gave their full-fledged co-operation for the

successful completion of project.

Manoj Kumar

Shaw

PGDM ( 2013 –

15 )

Regional college

of management

Chapter Contents Page no.

Chapter 1

1.1 ………. Introduction ………………………………………………………..

1.2 ………. Objective of the Study …………………………………………

1.3 ………. Methodology of the Study …………………………………..

1.4 ………. Limitation of Study ………………………………………………

Chapter 2 Bank’s Profile

Indusind Bank ………………………………………………………

Axis Bank ……………………………………………………………..

HDFC Bank …………………………………………………………..

ICICI Bank …………………………………………………………….

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Yes Bank ………………………………………………………………

Chapter3 Saving A/c and Services

Indusind Bank ……………………………………………………..

Axis Bank …………………………………………………………….

HDFC Bank ………………………………………………………….

ICICI Bank ……………………………………………………………

Yes Bank ………………………………………………………………

Chapter 4

4.1 ………. Analysis and Interpretation …………………………………..

4.2 ………. Conclusion ……………………………………………………………

4.3 ………. Bibliography …………………………………………………………

Chapter – 1

1.1- Introduction:

Bank is the backbone of a modern economy. Health of banking industry is one of the most important pre-conditions for sustained economic progress of any country. The w o r l d o f b a n k i n g h a s a s s u m e d a n e w d i m e n s i o n a t t h e d a w n o f t h e 2 1 St century with the advent of tech banking, thereby lending the industry a stamp of universality. In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirements of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account balances, ATMs,transferring funds between accounts and the like. Corporate banking, on the other hand, caters to the needs of corporate customers like bills discounting, opening letters of credit and managing cash

The Indian banking scene has changed drastically with the private sector making inroads in an area hitherto dominated by large public sector banks. Growing disinvestment is likely to impact the banking industry as well. There is every possibility of privatization of public sector banks, leading to greater operational autonomy.T h e d e v e l o p m e n t o f t h e I n d i a n b a n k i n g s e c t o r h a s b e e n a c c o m p a n i e d b y t h e i n t r o d u c t i o n o f n e w n o r m s s u c h a s I n c o m e R e c o g n i t i o n a n d C a p i t a l A d e q u a c y , b y t h e government. The latter

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implies that banks can lend on the basis of their respective capital base. These norms have caused banks to construct equity on their own, before going in for d e b t . D i s i n t e r m e d i a t i o n i s a r e a l t h r e a t f o r b a n k s . O f l a t e , b a n k s a r e a d o p t i n g t h e E V A (Economic Value Added) concept wherein revenues are viewed in the context of the risk associated with them.The New World order has ensured "Survival of the Fittest". New services are the order of the day, in order to stay ahead in the rat race. Banks are now foraying into net banking, securities, c o n s u m e r f i n a n c e , h o u s i n g f i n a n c e , t r e a s u r y m a r k e t , a n d M e r c h a n t b a n k i n g a n d insurance.

About

Indusind Bank

IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in

1994. The bank offers commercial, transactional and electronic banking products and

services. Indusind Bank was inaugurated in April 1994 by then Union Finance

Minister Manmohan Singh. Indusind Bank is the first among the new-generation private

banks in India.

The bank started its operations with a capital amount of Rs. 1 billion among which Rs.

600 million was donated by the Indian Residents and Rs. 400 million was raised by the Non-

Resident Indians. The bank has specialized in retail banking services and continuously

upgrades its support systems by introducing newer technologies. It is also working on

expanding its network of branches all across the country along with meeting the global

benchmark. According to the bank, its name is derived from the rich and vivid Indus Valley

Civilization

IndusInd Bank has 573 branches, and 1055 ATMs spread across 392 geographic locations of

the country as on 30 September 2012 with 2 representative offices, one each in London and

8

Dubai. Mumbai has the maximum number of bank branches followed by New

Delhi and Chennai.

Board of directors:

Mr. Ramesh Sobti has joined the bank as Managing Director & CEO, taking charge from Mr.

BhaskarGhose. Mr. R. Seshasayee, a Chartered Accountant by profession is the current

Chairman. The other members on the board are Dr. T. T. Ram Mohan, Mr. Ajay Hinduja, Mr.

S. C. Tripathi, Mr. Ashok Kini, Mrs. KanchanChitale, Mr. Vijay Vaid, Mr. R. S. Sharma and

Mr. Y. M. Kale.

Awards for Indusind Bank

2012-2013

Awarded "The best bank award among small banks for 'IT for Operational

Effectiveness' by Institute for Development and Research in Banking Technology

(IDRBT).

Awarded " Top Green IT Enterprise Award 2012 – CIO Magazine"

CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2012,

organized by Info Security Magazine and iViz Security

NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost &

Sullivan)

2011-2012

Awarded as the "Best Bank Mid-sized" in Businessworld – PwC Best Banks Survey

2011

Awarded as the "Best Mid-Sized Bank Bank" in Business Today – KPMG Best Banks

Survey 2011

Awarded M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands –

Organised by Paul Writer in association with IBM

The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"

Awarded in the "Business Enterprise Services" category for running ATMs on solar

power – Organised by Panasonic Green Globe Foundation

Awarded the status of 'Star Brand 2011 ICMR Star Brands of India Survey

Awarded the "Best Bank in New Generation Category" by the STATE FORUM OF

BANKERS CLUB KERALA

Awarded "Most Improved Bank Performance of the Year" at Financial Leadership

Awards 2012 (Bloomberg UTV)

Slogan:

9

IndusInd bank has used many slogans to promote their cause. Some of the slogans used by

the bank are “We Care... Dil Se” and “We Make You Feel Richer”.

Vision:

IndusInd Bank (we) will be: A relevant business and banking partner to our clients Customer Responsive, striving at all times to collaborate with clients in providing

solutions for their banking needs A forerunner in the market place in terms of profitability, productivity and efficiency Engaged with all our stakeholders and will deliver sustainable and compliant returns

Mission:

We will consistently add value to all our stakeholders and emerge as the ‘best-in-class’ in the chosen parameters amongst the comity of banks, by doubling our profits, clients and branches within the next three years.

Ratings:ICRA AA for Lower Tier II subordinate debt program by ICRA and ICRA AA- for Upper Tier II bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL. CARE AA for Lower Tier II subordinate debt program by CARE. Ind AA- for Upper Tier II bond program by India Ratings and Research and Ind A1+ for Short Term Debt Instruments by India Ratings and Research.

1.2 -Objective of the Study:

To understand theComparative analysis of privatize banks (HDFC Bank,ICICIBank,Axis Bank and Yes Bank with Indusind Bank) In saving accounts sector.

T o s t u d yConsumer preferenceFor the above four mentioned Saving accounts players.

To analyze the Satisfaction level of privatize banks (Mentioned above) with reference tosaving accounts Customers.

1.3 -Methodology of the Study:

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The whole study depends on data related to saving accounts of ICICI Bank,Axis Bank, HDFC Bank , Yes Bank and Indusind Bank. There are two types of data which I have collected for my study primary and secondary data.

Secondary Data:

After deciding my objective I looked for collecting and studying secondary data. It includes extensive study of literature available in reports of HDFC bank ICICI Bank,Axis Bank, Yes Bank and Indusind Bank in articles, newspapers, journals, magazines, handouts, pamphlets describing the banks. Study of secondary data gave me an insight into the problem into hand. It also provided me with clues and helped in designing primary research. It provided us a more accurate picture about the functioning of various service providers in the Bhubaneswar city. Extensive use of secondary information in the form of magazines, journals, newspaper clippings, such as Business World, Business Today, Business India, Economic Times specially from Internet websites of HDFC Bank, ICICI Bank,Axis Bank, Yes Bank And Indusind Bank.

Primary Data:

The objective of Primary data is formulated on the basis of research objectives. T h e p r i m a r y d a t a f o r m y s t u d y w a s b e i n g c o l l e c t e d b y conducting survey. To analyze saving account holders behavior and in order to gain an insight into the saving account holders need-satisfaction level, a questionnaire was formulated and administered among 300 people. The tools for data collection used were different types:

Telephonic Interview:The telephone interview was used in lieu of personal interviews. It is used because information h a s t o b e c o l l e c t e d q u i c k l y a n d i n e x p e n s i v e l y . B y i t I a s k e d t h e c u s t o m e r a b o u t t h e i r s a t i s f a c t i o n w i t h t h e i r B a n k ’ s s a v i n g a c c o u n t s . T h e d i r e c t a n d structured questions were asked by customers

QUESTIONNAIRES:This method of data collection is quite popular, particularly in case of big enquiries. A questionnaire is a method of obtaining specific information about a defined problem so thatdata, after analysis and interpretation, results in a better appreciation of the problem. In order to motivate respondents and to get best of the information from them.

Execution of survey work:The survey work is that was done to collect primary data. I conducted “Consumer Survey by using questionnaires. I individually approached to individuals and got the questionnaire filled by them. The individuals were randomly chosen and after getting the questionnaires filled I analyzed it for my study.

1.4–Limitation of Study:

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This research study was time bound and due to this only few saving accounts were taken up for study.

This research study was taken in a limited area only (i.e. Bhubaneswar city) and findings may vary if the area of study is increased or changed.

S o m e o f t h e r e s p o n d e n t s m i g h t h a v e b e e n b i a s e d i n t h e i r r e s p o n s e s a s s u c h t h e analysis could vary to some extent

While analysis of data, some human errors made possible.

Sample drawn through convenience sampling, for customer survey cannot be well associated with the attributes of population. Here I got the questionnaire fill from people selected arbitrarily specially from the corporate people who work in an office, small & middle level businessman and also from those who we are familiar with e.g. my n e i g h b o r s , m y f r i e n d s , e t c . T h e m a j o r i t y o f t h e r e s p o n d e n t s w e r e f r o m e d u c a t e d middle class and perhaps this is the section of society which is being targeted by banks. This is because of two reasons. (1)The huge size of middle class population. (2) Their increasing need and awareness for savings in this class.

Chapter – 2

Bank’s Profile

IndusInd Bank Limited is a Mumbai based Indian new generation bank,established in 1994.

The bank offers commercial, transactional and electronic banking products and services.

Indusind Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan

Singh. Indusind Bank is the first among the new-generation private banks in India.

The bank started its operations with a capital amount of Rs. 1 billion among which Rs.

600 million was donated by the Indian Residents and Rs. 400 million was raised by the Non-

Resident Indians. The bank has specialized in retail banking services and continuously

upgrades its support systems by introducing newer technologies. It is also working on

expanding its network of branches all across the country along with meeting the global

benchmark. According to the bank, its name is derived from the rich and vivid Indus Valley

Civilization

12

IndusInd Bank has 573 branches, and 1055 ATMs spread across 392 geographic locations of

the country as on 30 September 2012 with 2 representative offices, one each in London and

Dubai. Mumbai has the maximum number of bank branches followed by New

Delhi and Chennai.

Awards for Indusind Bank:

2012-2013

Awarded "The best bank award among small banks for 'IT for Operational

Effectiveness' by Institute for Development and Research in Banking Technology

(IDRBT).

Awarded " Top Green IT Enterprise Award 2012 – CIO Magazine"

CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2012,

organized by Info Security Magazine and iViz Security

NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost &

Sullivan)

2011-2012

Awarded as the "Best Bank Mid-sized" in Businessworld – PwC Best Banks Survey

2011

Awarded as the "Best Mid-Sized Bank Bank" in Business Today – KPMG Best Banks

Survey 2011

Awarded M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands –

Organised by Paul Writer in association with IBM

The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"

Awarded in the "Business Enterprise Services" category for running ATMs on solar

power – Organised by Panasonic Green Globe Foundation

Awarded the status of 'Star Brand 2011 ICMR Star Brands of India Survey

Awarded the "Best Bank in New Generation Category" by the STATE FORUM OF

BANKERS CLUB KERALA

Awarded "Most Improved Bank Performance of the Year" at Financial Leadership

Awards 2012 (Bloomberg UTV)

Slogan:

IndusInd bank has used many slogans to promote their cause. Some of the slogans used by

the bank are “We Care... Dil Se” and “We Make You Feel Richer”.

Vision:

IndusInd Bank (we) will be:

13

A relevant business and banking partner to our clients Customer Responsive, striving at all times to collaborate with clients in providing

solutions for their banking needs A forerunner in the market place in terms of profitability, productivity and efficiency Engaged with all our stakeholders and will deliver sustainable and compliant returns.

Mission:

We will consistently add value to all our stakeholders and emerge as the ‘best-in-class’ in the chosen parameters amongst the comity of banks, by doubling our profits, clients and branches

within the next three years.

Ratings:ICRA AA for Lower Tier II subordinate debt program by ICRA and ICRA AA- for Upper Tier II bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL. CARE AA for Lower Tier II subordinate debt program by CARE. Ind AA- for Upper Tier II bond program by India Ratings and Research and Ind A1+ for Short Term Debt Instruments by India Ratings and Research.

History:

Axis Bank began its operations in 1994, after the Government of India allowed new private

banks to be established. The Bank was promoted in 1993 jointly by the Administrator of

the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance

Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company,

The Oriental Insurance Corporation and United India Insurance Company. The Unit Trust of

India holds a special position in the Indian capital markets and has promoted many leading

financial institutions in the country.

Axis Bank (erstwhile UTI Bank) opened its registered office in Ahmedabad and corporate

office in Mumbai in December 1993. The first branch was inaugurated on 2 April 1994

in Ahmedabad by Dr. Manmohan Singh, the then Finance Minister of India.

Operations:

Indian Business: As on 31-Mar-2014, the Bank had a network of 2402 branches and

extension counters and 12922 ATMs. Axis Bank has the largest ATM network among private

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banks in India and it operates an ATM at one of the world’s highest sites at Thegu, Sikkim at

a height of 4,023 meters (13,200 ft) above sea level.[8]

International Business: The Bank has seven international offices with branches at

Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo and representative

offices at Dubai and Abu Dhabi, which focus on corporate lending, trade finance,

syndication, investment banking and liability businesses. In addition to the above, the Bank

has a presence in UK with its wholly owned subsidiary Axis Bank UK Limited.

Services:

Axis Bank operates in four segments: Treasury operations, Retail

banking, Corporate/Wholesale banking and other banking business.

Treasury operations: The Bank’s treasury operation services include investments in

sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading

and foreign exchange operations on the account, and for customers and central funding.

Retail banking: In the retail banking category, the bank offers services such as lending to

individuals/small businesses subject to the orientation, product and granularity criterion,

along with liability products, card services, Internet banking, automated teller

machines (ATM) services, depository, financial advisory services, and Non-resident

Indian (NRI) services.

Corporate/wholesale banking: The Bank offers to corporate and other organisations

services including corporate relationship not included under retail banking, corporate

advisory services, placements and syndication, management of public issues, project

appraisals, capital market related services and cash management services.

NRI services: Products and services for NRIs that facilitate investments in India.

Investment banking: Bank’s Investment Banking business comprises activities related

to Equity Capital Markets, Mergers and Acquisitions and Private Equity Advisory. The bank

is a SEBI-registered Category I Merchant Banker and has been active in advising Indian

companies in raising equity through IPOs, QIPs, and Rights issues etc. During the financial

year ended 31 March 2012, Axis Bank undertook 9 transactions including 5 IPOs and 2 Open

Offers.

Lending to small and medium enterprises: Axis Bank SME business is segmented in three

groups: Small Enterprises, Medium Enterprises and Supply Chain Finance. Under the Small

Business Group a subgroup for financing micro enterprises is also set up. Axis bank is the

first Indian Bank having TCDC cards in 11 currencies.

Agriculture banking: 759 branches of the Bank provide banking services, including

agricultural loans, to farmers. As on 31 March 2013, the Bank’s outstanding loans in the

agricultural sector was INR 148 billion, constituting 7.5% of its total advances.

15

http://en.wikipedia.org/wiki/Axis_Bank#cite_note-8

HDFC Bank Limited was incorporated in August 1994. It was promoted by Housing

Development Finance Corporation Limited (HDFC), India's largest housing finance

company. It was among the first companies to receive an 'in principle' approval from

the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank started

operations as a scheduled commercial bank in January 1995 under the RBI's liberalization

policies.

On 26 February 2000, Times Bank Limited owned by The Times Group (Bennett, Coleman

& Co.) was merged with HDFC Bank Ltd. This was the first merger of two private banks in

India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of

Times Bank.

On 23 May 2008, HDFC Bank acquired Centurion Bank of Punjabtaking its total branches to

more than 1,000. The amalgamated bank emerged with a base of about Rs. 1, 22, 000crore

and net advances of about Rs. 89,000 crore. The balance sheet size of the combined entity is

more than Rs. 1,63,000crore.

Operations

As of 30 September 2013, HDFC Bank has 3,251 branches and 11,177 ATMs, in 2,022 cities

in India, and all branches of the bank are linked on an online real-time basis.The Bank has

overseas branch operations in Bahrain and Hong Kong.

HDFC Bank has two subsidiaries:

HDB Financial Services Limited (‘HDBFS’): HDBFS is engaged in retail asset financing. It

is a non-deposit taking non-bank finance company (NBFC). Apart from lending to

individuals, the company grants loans to micro, small and medium business enterprises. It

also runs call centers for collection services to the HDFC Bank’s retail loan products. HDFC

Bank holds 97.4% shares in HDBFS. As of March 31, 2013, HDBFS has 230 branches in 184

cities. During the FY 2012-13, HDBFS had turnover of INR 9.6 billion and profit after tax of

INR 1 billion. It has 6,404 employees as of 31 March 2013.

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HDFC Securities Limited (‘HSL’): HSL is engaged in stock broking. As of March 31, 2013,

HDBFS has 194 branches across 150 cities. HDFC Bank has 62.1% shareholding in HSL.

During the FY 2012-13, HSL had turnover of INR 2.3 billion and profit after tax of INR 668

million. During the year, the Company received the “Best e-Brokerage Award - 2012” in the

Outlook Money Awards in the runner up category.

ICICI Bank was established by the Industrial Credit and Investment Corporation of India

(ICICI), an Indian financial institution, as a wholly owned subsidiary in 1955. The parent

company was formed in 1955 as a joint-venture of the World Bank, India's public-sector

banks and public-sector insurance companies to provide project financing to Indian

industry. The bank was initially known as the Industrial Credit and Investment Corporation

of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company

was later merged with the bank.

ICICI Bank is an Indian multinational banking and financial services company

headquartered in Mumbai. As of 2014 it is the second largest bank in India in terms of assets

and market capitalization. It offers a wide range of banking products and financial services

for corporate and retail customers through a variety of delivery channels and specialized

subsidiaries in the areas of investment banking, life, non-life insurance, venture

capital and asset management. The Bank has a network of 3,539 branches and

11,162 ATMs in India, and has a presence in 19 countries.

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab

National Bank and Bank of Baroda. The bank has subsidiaries in the United Kingdom,

Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka,

Qatar and Dubai International Finance Centre; and representative offices in United Arab

Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The

company's UK subsidiary has also established branches in Belgium and Germany.

Acquisitions:

1996: SCICI Ltd. A diversified financial institution with headquarters in Mumbai

17

1997: ITC Classic Finance. Incorporated in 1986, ITC Classic was a non-bank financial

firm that engaged in hire, purchase, and leasing operations. At the time of being acquired,

ITC Classic had eight offices, 26 outlets, and 700 brokers.

1998: Anagram Finance. Anagram had built up a network of some 50 branches in

Gujarat, Rajasthan, and Maharashtra that were primarily engaged in retail financing of

cars and trucks. It also had some 250,000 depositors.

2001: Bank of Madurai

2002: The Darjeeling and Shimla branches of Grindlays Bank

2005: Investitsionno-Kreditny Bank (IKB), a Russian bank

2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916, and

30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra, and it

had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in Gujarat,

Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively evenly split

between metropolitan areas and rural or semi-urban areas.

2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for

30 billion. RBI was critical of BOR's promoters not reducing their holdings in the

company. BOR has since been merged with ICICI Bank.

Credit rating

On account of the growing concerns over India's sovereign debt ratings, credit ratings agency

Moody's lowered the ratings for ICICI Bank from Baa3 to Baa2 in May 2012

18

YES BANK is a private bank in India with headquarters in Mumbai. It was founded in 2004

by promoters Ashok Kapur and RanaKapoor, which had a collective shareholding of

29%. Ashok Kapur was killed in a terrorist attack in 2008 in Mumbai.

In 2010, the bank announced the roll-out of a strategic blueprint, named Version 2.0 of the

bank, to further accelerate its business growth in the retail banking space, with the objective

to achieve by 2015, a balance sheet size of 1,500 billion, deposits of 1,250 billion,

advances of 1,000 billion, a pan India network of 900 branches and a human capital base of

12,750 by 2015.

As on 31 March 2014, the bank had 560 branches and 1139 ATMs. It had a balance sheet size

of INR 1090.2 billion and Gross NPA of 0.31%.And the bank had 8,798 employees on 31

March 2014.

Awards and recognitions:

YES BANK won the Golden Peacock Award for Corporate Social Responsibility 2013

YES BANK was awarded with 'The Strongest Bank Balance Sheet in India' by the Asian

Banker Magazine.

YES BANK won four awards at the 4th CMO Asia Awards for Branding & Marketing 2013.

Chapter – 3

Saving accounts & Services

My Account My Number:

19

MY ACCOUNT MY NUMBER is a unique proposition which enhances the convenience and flexibility that is available in our extensive range of products. You now have the freedom to choose the number of your choice for the account you open with us. The chosen account number may be a specific pattern, a lucky number, favorite combination or just something simple to remember.

Check on Cheque:Now you can keep a record of all your issued cheques with the Check on Cheque facility!! Get access to copies of your cheques on statements or through IndusNet Interne Banking.

Denomination Selection:

Get the freedom to choose from a mix of 100, 500 & 1000 rupee denomination from IndusInd Bank ATMs. The Choice Money ATM Service enables the customers to choose the denomination(s) of Cash Withdrawal. A gap in the customer offering was identified whereby a customer was unable to get the Cash withdrawal amount in the denomination of his choice. This service is available to both IndusInd Bank and non IndusInd Bank customers

Cash-on-mobile:

20

IndusMobile's Cash-on-Mobile is an innovative feature that allows you to withdraw or send money by just using the receiver's mobile number. You can initiate a Cash-on-Mobile transaction from either select IndusInd Bank ATMs or through the IndusMobile Application. The receiver of the funds can withdraw money from select IndusInd Bank ATMs. The receiver will get all the details required for withdrawal of the cash on his or her phone.

Types of saving accounts in Indusind Bank:

There are various saving accounts of Indusind Bank which are categorized under 3 broad categories

1–Individual Saving Accounts

2 = Defense Accounts

3 - Corporate salary accounts

1 – Individual Saving Accounts:

( A )-Indus privilege saving account

( B )-Indus maxima saving account

( C )-Indus select saving account

( D )-Indus exclusive saving account

( D )-Indus classic saving account

( E )-Indus easy(basic)saving account

( F )-Indus small account

( G )-Indus young saver

2 = Defense Accounts:

( A ) - Indus Force

( B ) - Indus Force Maxima

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3 - Corporate salary accounts:

( A )- Indus comfort Exclusive

( B )- Indus comfort Select

( C )- Indus comfort Maxima

( D )- Indus comfort Premium

( E )- Indus comfort Regular

Indus privilege saving account

Introduction:

IndusInd Bank's Privilege Savings Account, a privilege account with a set of exclusive features that offer more value for your money, while also gives you the power to save and enjoy convenient and a hassle-free banking experience. The Indus Privilege Account gives you the following dual-advantage:

Free Indus Young Saver Account with Recurring Deposit facility for your child. Power-packed transactional account.

Balance requirement:

Average Monthly Balance to be maintained: AMB of INR 10, 000/- in A category branches AMB of INR 10, 000/- in B category branches AMB of Rs.5,000/- in C and C1 category branches AMB - Average Monthly Balance

Balance Non-Maintenance ChargeFor CAT A and B branches (w.e.f July, 2012) :-

If AMB in the account is between INR 5,000 to Rs.10,000/-, INR 250/- per month would be levied.

If AMB is less than INR.5,000/-, INR 350/- per month would be levied.

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For CAT C and C1 branches (w.e.f July, 2012) :- If AMB in the account is between INR 5,000 to INR 2,500/-, INR 250/- per month. If AMB is less than INR.2,500/-, INR 350/- per month.

Features and benefits:

Debit card IndusInd Bank presents a suite of premium to utility Debit Cards , that come loaded with

features to make banking effortless for you. Choose from any of the following:o International Classic VISA Debit Card.o International Gold VISA Debit Card.o Maximum Platinum VISA Debit Card. Use your card to earn reward points even on your daily transactions. Go shopping, pay utility

bills, invest through SIPs or even withdraw cash and choose to get rewarded or auto cash back into your account through Indus Money.

Easy access to Accounto Access IndusInd Bank ATMs across India for cash withdrawals, cash/cheque deposits, VISA

Credit Card bill payment, balance enquiry, mobile top-up and other miscellaneous requests, for free.

o Access cash for withdrawal at over 80,000 ATMs in India, through our network partners – VISA and NFS

o Access your funds at over 1 million VISA ATMs worldwide and 26 million VISA merchant outlets.

5 FREE domestic other bank ATM transactions in a month (cash withdrawal, balance enquiry, PIN change OR mini statement), unlimited if previous month's average Monthly Balance is equal to or more than Rs. 10,000/-

Safe and secure online shopping - register for Verified by Visa (VbV) and use your card for online shopping and e-Payments.

Limits on card flexible Mobile top - up at ATMs

Banking at your convenience:

Access and transact on your account from any of our branches across India completely FREE, be it for deposits, withdrawals or any other transactions.

365 days banking at select branches. Doorstep banking at select locations – free cheque pickup and demand draft delivery Free demand drafts (up to INR.25,000/- per day) at all our branches. Toll free contact centre access to our service staff

Internet Banking:

Free Internet banking service. Free bill payment and online railway ticket booking facility.

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Free funds transfer through NEFT and RTGS.

Multicity cheque book:

Free multicity cheque book

Standing instruction:

Free standing instructions, Sweep-In facility.

Statement and Nomination:

Free Quarterly Statements/Monthly e-Statements/pass book facility. Nomination facility available.

No need to carry cash anymore

Online Bill Payment, railway ticket booking, e-Shopping. Mobile top - ups at ATMs. Credit Card bill payment (VISA Cards) over ATM and internet. Cashless shopping with VISA Debit Card. Free funds transfer - Use RTGS or NEFT to transfer funds anywhere in India completely

FREE.

Eligibility:

The following can open an Indus Privilege Account: Resident individuals (sole or joint account) Minor Trusts, Associations, societies and charitable trusts. Foreign national residing in India for a period greater than 180 days, can open a savings

account by providing the following:o Valid passport.o Valid visa.o Documentary proof of residency in India.

How to apply:

You can also open an Indus Privilege Savings Account online. Click on the Apply Now button on this page, fill in your details and submit it. We will get back to you for further KYC process. Alternately, you can visit a branch and submit the Savings Account form.

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Documentation:

The following documents will be needed to open the Indus Privilege Account: Duly filled account opening form. One passport size colour photograph. Initial deposit of INR 10,000/- or more, if account opened in A&B category branch or INR

5,000/- or more, if account opened in C category branch. PAN card or Form 60/61 where PAN card is not available. Any one document from each of the following groups:

Identity Proof: Passport or driving license or Voter's ID or Photo Debit/Credit Card

Address ProofPassport or driving license or Voter's ID or utility bill (not older than 3 months) The above

list is indicative. For a more detailed list, please contact your nearest branch or call our

contact center

Indus maxima saving account

Overview:

Indus Maxima offers –you with a host of premium services and exclusive banking solutions that cater to all your financial needs. With the Indus Maxima Savings Account, you also get your very own IndusInd Maximum Platinum Debit Card. Revel with the exclusive privileges, discounts and offers to match your lifestyle.

Balance requirement:

Average Quarterly Balance: INR 25,000/-Note – Indus Maxima account allows you grouping benefits, whereby the average balance required can be maintained across 3 accounts togetherBalance Non-Maintenance Charges*

If balance less than INR 25,000/- but more than INR 18,750/- INR 300/-

If balance less than INR 18,750/- but more than INR 12,500/- INR 600/-

If balance less than INR 12,500/- INR 900/-

*On Quarterly BasisNote – AQB Non - Maintenance charge, if applicable shall be recovered from the primary account (based on choice indicated by the customer at the time off account opening)

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Features and benefits:

Group account benefit- 2 add- on accounts FREEIndus Maxima offers you the option to open up to add-on accounts FREE for your family members. You also get grouped account benefit, whereby the average balance can be maintained across the 3 accounts together.Enjoy all the premium benefits on each of the 3 accounts while the balance can be maintained through any or all of the account/s. What's more the Premium Platinum Card comes FREE on

your add-on accounts.

Maximum platinum debit card

Get the very premium Maximum Platinum Debit Card with your Indus Maxima Account. The feature rich card offers you maximum benefits as listed below-

Higher daily limits - Daily purchase limit - INR.2,00,000/- and ATM withdrawal - INR.1,00,000/-

Host of complimentary insurance covers Waiver on fuel surcharge - Fuel surcharge waived off up to Rs. 250/- per month Get 5X reward points - the higher you spend, higher the points you earn. Earn up to 5 times

the reward points, under our loyalty Programme Indus Money!o Power of Choice: You decide whether your rewards will be in form of automatic monthly

cash back or reward points accumulationo Exclusive reward points redemption catalogueo Exciting usage and discount offers Safe and Secure online shopping - register for Verified by Visa (VbV) and use your card for

online shopping and e-Payments. MinimalPricing

While the Platinum Debit Card comes to you with a host of benefits and offers, we have priced the same nominally. The price that you pay for the card will be of no match to the benefits that you can get from the card, making it Maximum Platinum! Annual Platinum Card Fee-

On Primary Account Rs.99/-

On Add-On Accounts (up to 2) Free for Life

Host of free services and facilities: 365 day banking at select branches Free internet and mobile banking service Free doorstep banking at select locations – Cash/cheque pickup and cash/ demand draft

delivery Unlimited Payable at Par (PAP) cheque books

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Unlimited other bank ATM withdrawals in India and 1 international ATM withdrawal free per month

Unlimited pay orders and own bank demand srafts free 1 correspondent bank draft up to INR 50,000 free per day Free funds transfer through NEFT or RTGS Free Monthly Statements (Physical and/or e-Statements) and SMS alerts Platinum Debit Card Free on Add-on account/s

Anywhere banking:

Access your account through any of our branches across India, be it for cash withdrawals/deposits, enquiries or transactions without worrying about extra charges on transactions at non-base branch.

Internet banking and Mobile banking allow you to transact on your account without ever leaving the comfort of your home. Download statements, transfer funds, place an FD, request for a demand draft, all at the click of a button!

Get cash picked up/delivered and/ or cheques picked up from your home by signing up for doorstep banking.

Relationship banking – Maximum convenience:

Indus Maxima account will truly bring you convenience of banking with our premium Relationship Banking services. Basis the balance maintained in your account/s, a dedicated Relationship Manager (RM) shall be assigned to you. Your Relationship Manager will assist you on all your banking and investment needs. IndusInd Bank offers the following financial services-

Lockers Demat Account e-Trading Account Insurance and Investment Options

Eligibility:

Resident individuals (sole or joint account) Minor Hindu undivided families Trusts, associations, societies and charitable trusts. Foreign national residing in India for a period greater than 180 days, can open a savings

account by providing the followingo Valid Passporto Valid Visa

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o Document proof of residency in India

Indus Select saving account

Overview:

Welcome to Indus SELECT, our premium banking program that has been specially crafted to deliver best in class banking experience for all our discerning clientsThe program comes with a delightful blend of services and rewards which will deliver hassle free banking along with unmatched privileges.

Dedicated Relationship Manager to guide and assist you through different financial needs on Banking, Investments, Insurance and Loans.

Monthly physical and e-statements and Net Banking to help you track transactions and access your account/s online, including your wealth portfolio.

Check-On-Cheque service to help you keep track of Cheques issued on your account by way of cheque images in your physical and e-statements.

Get enhanced protection via a host of complimentary insurance covers

Air accident insurance INR 30,00,000/

Lost card liability in case of misuse INR 3,00,000/-

Purchases made using the card are protected against fire and theft INR 50,000/-

Key features:

Family grouping facility to group all accounts of your family members and enjoy relationship benefits across all the grouped accounts

Lifetime FREE Platinum Select Debit Card on all your grouped family accounts, which is packed with unmatched features and tempting offers.

Buy one and Get one FREE movie ticket when you book at Book my show using your Select Debit Card (1 free ticket every quarter)

No transaction charges at ATMs in India (over 90,000) and across the world (over a million).

Shop without any charges at over 26 Million Visa merchant outlets worldwide. No mark-up charges on foreign currency transactions done through Select Debit Card at

ATMs/ Merchant outlets. Select Benefits on other products as well:o 10% discount on lockerso 10% discount on loan processing feeo 1 year maintenance charges on a Demat A/c waived off Get enhanced spend & withdrawal limits on Select Debit Card that can be altered

according to your preferences. Enjoy waiver on surcharge of 2.5% on all petrol/fuel purchased.

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Enjoy the 5X Rewards program that comes along with the Select Debit card.Doorstep banking to help you get your Cheques and cash picked up or delivered at your doorstep, without any charges.

Debit Cards:

Overview:The IndusInd Bank International Classic VISA Debit Card brings you to a world of convenience and complete security, So whether you enjoy shopping, eating out, travelling to a beautiful locale; add to it our wide array of reward and redemption options and you have the perfect combination.

Features and Benefits:

Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals, cash/cheque deposits, visa credit card bill payment, balance enquiry, mobile top-up and other miscellaneous requests

Withdraw cash at any of the 60,000 VISA/PLUS ATMs in India and over a million ATMs across the world, through bilateral arrangements with our network partners, VISA and NFS

Use your card for shopping at over 4,00,000 merchant locations in India and over 26 million merchant locations across the world

Use your card for online shopping, e-payments and bill payments Credit Card bill payment (VISA Cards) over ATM and Internet Cash-less shopping with VISA Debit Card Mobile top-ups at ATMs

Indus money:

A unique loyalty program for our customers that rewards them in abundance for the purchases at merchant outlets, online shopping and e-payments using your IndusInd International Classic VISA Debit Card. Choose from our Rewards Redemption Catalogue to get free gifts ranging from fashion and accessories, electronics and household Items to gifts your children would love to get, or choose to get cashback into your account.

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International classic visa debit card

Secure online shopping

Sign up for Verified by VISA and enjoy safe and secure online shopping and bill payments with your IndusInd International Classic VISA Debit Card.

Daily transaction limit

The daily limits per card are as follows:For ATMs : INR 25,000For shopping and purchases (online/at merchant establishments): INR 50,000*For Visa Credit Card bill payment : 49,999 per dayWhat's more, the limits on your card are flexible; you are the one who gets to decide the limits on your card.Subject to the balance in your accountIn the case of other Bank ATMs, customer has to do multiple transactions due to the different transaction limits set by different banks

Fees and charges

Savings Account Product Type Annual Fees

Indus Classic, Indus Comfort & Indus Privilege

INR 99/-

Indus Comfort PremiumFree for Life

NR Regular & NR PremiumFree for Life

Overview:

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International Gold visa debit

card

IndusInd Bank is pleased to bring you its value added International Gold VISA Debit Card. This card is tailor-made for YOU, to exceed your expectations at any of the VISA ATMs or point-of-sale terminals, anywhere in the world.


Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals, cash/cheque deposits, visa credit card bill payment facility, balance enquiry, mobile top-up and other miscellaneous requests

Withdraw cash at any of the 60,000 VISA/PLUS ATMs in India and over a million ATMs across the world, through bilateral arrangements with our network partners, VISA and NFS


Use your card for online shopping, e-payments and bill payments Credit Card bill payment (VISA Cards) over ATM and internet Cashless shopping with VISA Debit Card Mobile top-ups at ATMs Enjoy fuel surcharge waiver of up to INR 125/- per month on fuel bills. T&C apply

Indus money:A unique loyalty program for our customers, which rewards you for all types of spends on your savings account, be it shopping or e-shopping, bill payments or mobile top-ups, cash withdrawals, or even Investments through SIPs. What's more, get Cash back/fabulous products from our catalogue against your earned reward points! Life never looked this good.

Secure online shopping

Sign up for Verified by VISA and enjoy safe and secure online shopping and bill payments with your IndusInd International Gold VISA Debit Card.

Daily transaction limit

The daily limits per card are as follows:For ATMs : INR 50,000For shopping and purchases (online /at merchant establishments): INR 1,00,000For VISA Credit Card bill payment : 49,999 per dayWhat's more, the limits on your card are flexible; you are the one who gets to decide the limits on your card.Subject to the balance in your account In the case of other Bank ATMs, customer has to do multiple transactions due to the different transaction limits set by different banks

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Fees and charges

Savings Account Product TypeAnnual Fees

Indus Privilege Plus & Maxima AccountsFree for Life

Indus Privilege, Indus Comfort Premium & NR Premium

Rs.99/-

Indus Classic, NR Regular & Indus Comfort Rs.199/-

Overview:Presenting the Maximum Platinum VISA Debit Card.that is exclusively crafted for you - our valuable customers. Explore the world of exclusivity with privileges and luxuries that matches up to your style, persona and lifestyle.


Rejoice while you spend with your Maximum Platinum VISA Debit Card that enables you to explore more and more shopping options. With exciting offers and exclusive privileges every now and then, you can enjoy a whole new world of Maximum privileges and benefits

Maximum limit

Happiness has no limits!For shopping and purchases (online /at merchant establishments): INR 2, 00,000/- per day For ATM cash withdrawals: INR 1,00,000/- per dayFor Visa Credit Card bill payment: INR 49,999/- per day What's more, the limits on your card are flexible; you are the one who gets to decide the limits on your card.Subject to the balance in your accountIn the case of other Bank ATMs, customer has to do multiple transactions due to the different transaction limits set by different banks.

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International Platinum visa debit card

Maximum protection

o Air accident insurance of INR 30,00,000/-You are insured against loss of life in an air accident for up to INR 30,00,000

o Lost Card liability: INR 3,00,000/-If your card is lost or stolen, you hold no liability in case of any misuse up to INR 3,00,000

o Purchase protection: INR 50,000/-To protect your purchases and e-purchases, you are insured for up to INR 50,000

Secure Online Shoppingo Sign up for Verified by VISA and enjoy safe and secure online shopping and bill payments

with your Maximum Platinum VISA Debit Card

We know you deserve the maximum With the Maximum Platinum VISA Debit Card you get rewarded for all your purchases at

merchant outlets, online shopping and e-payments like never before! Kindly refer to the table below for the accelerated rewards:

Your Monthly Spends Points per INR 100/-

Upto Rs.5,000/- 1

Between Rs.5,001/- to Rs.10,000/- 2

Between Rs.10,001/- to Rs.20,000/- 3

Between Rs.20,001/- to Rs.40,000/- 4

Above Rs.40,001/- 5

Enjoy multiple options for Rewards Redemption suiting your lifestyle. Choose to get Auto Cash back into your account or redeem your points against an exclusive redemption catalogue.

Redemption Option

Description

Exclusive Product Catalogue

We have designed an exclusive redemption catalogue for you. Redeem your points for any product of your choice from an array of branded products.

Monthly Cash-BackRedeem your points for Cash-Back. Each point will be redeemed at a value of 50 paise.

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Jet Privilege Miles Convert your points to JP Miles. Get 1 JP Mile for every 2 Rewards Points.

Maximum convenience:

Your Maximum Platinum VISA Debit Card allows you Maximum Convenience: Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals, cash/cheque

deposits, visa credit card bill payment, balance enquiry, mobile top-up and other miscellaneous requests

Withdraw cash at any of the 60,000 VISA / PLUS ATMs in India and over a million ATMs across the world, through bilateral arrangements with our network partners, VISA and NFS


Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. It offers financial services to customer segments covering Large and Mid-Corporate, MSME, Agriculture and Retail Businesses. Axis Bank has its headquarters in Mumbai, Maharashtra.

Saving Accounts of Axis Bank:

Easy Access saving account

Features and Benefits: ATM withdrawal of Rs 40,000/- per day and purchasing

uptoRs 1,00,000 No free DD, NEFT and RTGS One free multicity cheque book Accidental insurance on debit card of Rs 2,00,000

Balance Requirement:Initial deposit Rs 10,000/- (For metro and urban)Rs 5,000/- (For semi urban)

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Charges for non-maintenance of balance Rs 250/- (If AMB is less than Rs 10,000)

Prime saving account

Features and Benefits 100% discount on annual debit card fee by swiping for Rs 5000/- in

a year ordoing 10 shopping transactions in a year

free 2 DD/PO ( At Axis Bank location per month ) 1 Cheque book free per quarter No free RTGS and NEFT

Balance Requirement:Initial deposit Rs 25,000/-

Charges for non-maintenance of balanceRs 250/- (If AMB is less than Rs 25,000)

Prime plus saving account

Features and Benefits: 20 transactions every month at any Axis branch at no charge 100% discount on annual debit card Free by swiping for Rs

50,000 in a year 2 free PAP cheque book per quarter Accidental insurance cover uptoRs 3,00,000 by swiping once

every 6 month of debit card

10 times free ATM withdrawal from other Bank's ATM 25% discount on 1st year locker rents

Balance Requirement:Average monthly balance Rs 1, 00,000/-

Charges for non-maintenance of balance:Rs 250/- (If AMB is less than 1, 00,000)

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TheHousing Development finance Corporation Limited (HDFC) was amongst the first to receive an 'in-principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry in 1994.The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Saving Accounts of Axis Bank:

Regular saving account

Features and Benefits: Free 25 cheques /calendar quarter no DD free free RTGS and NEFT inward and outward is

chargeable RS 100- overdraft facility provided

Balance Requirement:Initial deposit Rs 10000/- (for metro and urban)

Rs 5000/- (for semi urban and rural)

Charges for non-maintenance of balance:Rs 250/- per month (If AMB is between Rs 5,000 to Rs 10,000)

Saving Max account

Features and Benefits: Free DD on HDFC Bank locations of Rs 1,00,000 per month Free inward NEFT and RTGS but Outward is chargeable Accidental hospitalization cover uptoRs 1,00,000 Accidental death insurance cover uptoRs 10,00,000 Free 25 cheque leaves per calendar per quarter

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Balance Requirement:Initial deposit Rs25,000/-Charges for non-maintenance of balance:Rs 350/- per month (If AMB is between 10,000 to 25,000)Rs 500/- per month (If AMB is less than 10,000)

ICICI Bank is an Indian multinational banking and financial services company

headquartered in Mumbai. As of 2014 it is the second largest bank in India in terms of assets

and market capitalization. It offers a wide range of banking products and financial services

for corporate and retail customers through a variety of delivery channels and specialized

subsidiaries in the areas of investment banking, life, non-life insurance, venture

capital and asset management. The Bank has a network of 3,539 branches and

11,162 ATMs in India, and has a presence in 19 countries.

Saving Accounts of ICICI Bank:

Regular saving accountFeatures and Benefits

24*7 phone banking and account portability No free DD ( Rs 50/DD uptoRs 10,000 and Rs 3 per

thousand Debit card charges Rs 99 Free 30cheque leaves for 3 months,Rs30 for 15 leaves

Balance Requirement : Initial deposit Rs 10,000/-Charges for non maintenance of balance:Rs 250/- per month (If AMB is between Rs 5,000 to Rs 10,000)Rs 350/- per month (If AMB is less than Rs 5,000)

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Silver saving account

Features and Benefits: Free SMS and 15% discount on locker rents option to change account number Waiver of DD/PO Unlimited times money withdrawal from any bank's ATM

Balance Requirement:Initial deposit Rs 25,000/-

Charges for non-maintenance of balance :Rs 175/- (If AMB is more than 10,000 but less than 25,000)Rs 250/- (If AMB is more than 5,000 but less than 10,000)

Gold privilege saving account

Features and Benefits: 20% discount on locker rents Free SMS Unlimited times money withdrawal from any bank's ATM

Balance Requirement:Initial deposit Rs50, 000/-

Charges for non-maintenance of balance:

Rs 100/- per month ( If AMB is above Rs 25,000 but below Rs 50,000 )Rs 175/- per month ( If AMB is above Rs 10,000 but below Rs 25,000 )Rs 250/- per month ( If AMB is between Rs 5,000 to Rs 10,000 )

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YES BANK is a private bank in India with headquarters in Mumbai. It was founded in 2004

by promoters Ashok Kapur and RanaKapoor, which had a collective shareholding of

29%. Ashok Kapur was killed in a terrorist attack in 2008 in Mumbai.

In 2010, the bank announced the roll-out of a strategic blueprint, named Version 2.0 of the

bank, to further accelerate its business growth in the retail banking space, with the objective

to achieve by 2015, a balance sheet size of 1,500 billion, deposits of 1,250 billion,

advances of 1,000 billion, a pan India network of 900 branches and a human capital base of

12,750 by 2015.

As on 31 March 2014, the bank had 560 branches and 1139 ATMs. It had a balance sheet size of INR 1090.2 billion and Gross NPA of 0.31%.And the bank had 8,798 employees on 31 March 2014.

Yes Bank’s saving account Advantages:

YES BANK savings accounts have been designed specifically to take care of your banking requirement. Our innovative financial solution, backed by expert advice, will provide with a truly rewarding banking experience.

Earn a higher return of 7% p.a* on your Yes Bank saving account for balances of Rs 1 lakh & above and 6% p.a for balance below 1 lakh.

Banking convenience:

Unlimited access to any Bank’s ATM in India. True anywhere banking facility for access to any Yes Bank branch across

India. Extended Banking hours at state-of-the-art branches.

Value for Money:

Quarterly payout of saving interest. Free RTGS/NEFT payment facility through Net –Banking. Free DD issuance upto defined limits through branch and Net- Banking. Free utility bill payment facility through Net-Banking for registered billers. Free set-up of standing instruction facility.

Saving Accounts of YES Bank:

Saving Value account

Average Quarterly Balance (AQB)- 5,000FD requirement for Nil AQB - 50,000AQB Non-maintenance charges – 750 / Quarter

Payment Services:

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Intra-Bank Fund Transfer – Branch -------- Free Intra-Bank Fund Transfer – NetBanking--- Free RTGS Payment – Branch---------------------Free RTGS Payment –NetBanking----------------Free NEFT Payment – Branch---------------------Free NEFT Payment –NetBanking----------------Free Payable At Par Cheque Usage------------- 25 Txns per month and Rs 2 per

Txnsthereafter. DD payable at YES BANK locations – Branch------ Rs 4 per month free and Rs 50 /

Instrument thereafter DD payable at YES BANK locations –NetBanking----- Free ( plus Rs 20courier

charges ) DD payable at Correspondent Bank locations----- 1 per month free and Rs 2.5/Rs

1000( minRs 50,Max 5,000) thereafter.

Saving Advantage account

Average Quarterly Balance (AQB) – 10,000

FD requirement for Nil AQB**- 50,000

AQB Non-maintenance charges – 750 / Quarter

Payment Services:

Intra-Bank Fund Transfer – Branch -------------- Free Intra-Bank Fund Transfer – NetBanking --------- Free RTGS Payment – Branch ------------- ------------- Free RTGS Payment – NetBanking---------------------- Free NEFT Payment – Branch----------------------------Free NEFT Payment – NetBanking----------------------Free Payable At Par Cheque Usage ------------- 25 Txns Per Month Free;

Rs 2 / Txn thereafter DD payable at YES BANK locations – Branch ----- 10 Per Month Free;

o Rs 50 / Instrument thereafter

DD payable at YES BANK locations – NetBanking ------ Free (plus ` 20 courier charges)

DD payable at Correspondent Bank locations ---------- 2 Per Month Free;( min Rs 50, o Max. 5,000) thereafter

Saving Select account

Average Quarterly Balance (AQB) -------------Rs 10,000

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FD requirement for Nil AQB*** ---------------Rs 2,50,000

AQB Non-maintenance charges ---------------Rs 750 per quarter

Payment Services:

Intra-Bank Fund Transfer – Branch ---------------- Free Intra-Bank Fund Transfer – NetBanking ---------- Free RTGS Payment – Branch----------------------------- Free RTGS Payment – NetBanking------------------------Free NEFT Payment – Branch-----------------------------Free NEFT Payment – NetBanking -----------------------Free Payable At Par Cheque Usage ----------------------- 25 Txns Per Month Free;

o Rs 2 / Txn thereafter

DD payable at YES BANK locations – Branch ------ 10 Per Month Free; Rs 50 / Instrument thereafter

DD payable at YES BANK locations – NetBanking ------- Free (plus ` 20 courier charges)

DD payable at Correspondent Bank locations ------------ 3 Per Month Free; Rs2.5 / Rs 1,000 (Min. Rs

50, Max. Rs 5,000) thereafter

Saving Exclusive account

Average Quarterly Balance (AQB) ------------- Rs 1 lakh

FD requirement for Nil AQB***---------------- Rs 5 lakhs

AQB Non-maintenance charges----------------Rs 1,000 per quarter

Payment Services:

Intra-Bank Fund Transfer – Branch ---------------- Free

Intra-Bank Fund Transfer – NetBanking ---------- Free

RTGS Payment – Branch ---------------------------- Free

RTGS Payment – NetBanking----------------------- Free

NEFT Payment – Branch---------------------------- Free

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NEFT Payment – NetBanking---------------------- Free

Payable At Par Cheque Usage----------------------- 50 Txns Per Month Free;

Rs 2 / Txn thereafter

DD payable at YES BANK locations – Branch----Rs 20 Per Month Free;

Rs 50 / Instrument thereafter

DD payable at YES BANK locations – NetBanking-- Free

DD payable at Correspondent Bank locations-------Rs 3 Per Month Free;

Rs2.5 / Rs 1,000 (Min. Rs 50,

Max. Rs 5,000) thereafter

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Chapter – 4

4.1-Analysis and Interpretation:

In which bank do you have account?

Frequency Percent Valid Percent Cumulative Percent

Valid

AXIS 15 15.0 15.0 15.0

ICICI 13 13.0 13.0 28.0

HDFC 9 9.0 9.0 37.0

OTHERS 63 63.0 63.0 100.0

Total 100 100.0 100.0

TABLE - 1

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Statistics

In which bank do you have

account?

NValid 100

Missing 0

Mean 3.2000

Std. Deviation 1.15470

Finding: From the above table it shows that among 100 respondents, 63% of people having other bank account (SBI, CANARA, and Yes Bank etc), 15% having in AXIS bank, 13% in ICICI and 9% in HDFC bank.

Which type of account do you have?


Valid

SAVING 80 80.0 80.0 80.0

CURRENT 12 12.0 12.0 92.0

FIXED DEPOSIT 7 7.0 7.0 99.0

RECURRING DEPOSIT 1 1.0 1.0 100.0

Total 100 100.0 100.0

TABLE - 2

Finding: From the above table it shows that among the 100 respondent, 80% of people

having saving bank account, 12% having current account and 7% having fixed and

1%recurring deposits respectively.

During survey, I perceived that most of the businessmen use their current account for their

daily transaction and saving account mainly carried by salaried people who works in a office.

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Statistics

Which type of account do you

have?

NValid 100

Missing 0

Mean 1.2900

Std. Deviation .64031

Since how many days you have maintained your account ina a particular bank?


Valid

0-1 YEARS 6 6.0 6.0 6.0

1-2 YEARS 26 26.0 26.0 32.0

ABOVE 2 YEARS 68 68.0 68.0 100.0

Total 100 100.0 100.0

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Statistics

Since how many days you have

maintained your account ina a

particular bank?

NValid 100

Missing 0

Mean 2.6200


TABLE: 3

Finding: From the above table it shows that among 100 respondents, 68% having their account more than 2 years, 26% having 1-2 years and 6% having 0-1 years.This surveywas done mainly among the people aged between 20 to 60 years. Most of the people they get their saving account opened at the age of 18 that is why there are 68% respondentswhise accounts in bank is older than 2 years.

Are you satisfied from the service of the bank for customer?


Valid

YES 94 94.0 94.0 94.0

NO 6 6.0 6.0 100.0

Total 100 100.0 100.0

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TABLE: 4

Finding: From the above table it shows that among 100 respondents, 94% are satisfied from

their bank service and 6% are not satisfied.The main reason for their satisfaction is good service and lower initial balance and mainly very less hidden charges.The main reason for their not satisfaction is lower interest rate, poor services and high hidden charges.

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Statistics

Are you satisfied from the

service of the bank for

customer?

NValid 100

Missing 0

Mean 1.0600


How frequently do you visit your bank branch per month?


Valid

LESS THAN 2 TIMES 37 37.0 37.0 37.0

2-5 TIMES 53 53.0 53.0 90.0

5-10 TIMES 5 5.0 5.0 95.0

OVER 10 TIMES 5 5.0 5.0 100.0

Total 100 100.0 100.0

48

Statistics

How frequently do you visit your

bank branch per month?

NValid 100

Missing 0

Mean 1.7800


TABLE: 5

Finding: From the above table it shows that among 100 respondent, 37% of people visit their

bank less than 2 times, 53% visit 2-5 times, 5% visit 5-10 & 5% above 10 times.

Do you invest on the various product of the bank?


Valid

NO 72 72.0 72.0 72.0

YES 28 28.0 28.0 100.0

Total 100 100.0 100.0

49

TABLE: 6

Finding: From the above table it shows that among 100 respondents, 72% people could not

invest different product of bank and 28% are shows that they invest in different product of

bank.

Here different banking product includes mutual funds, life insurance, general insurance and

demat account etc.

50

Statistics

Do you invest on the various

product of the bank?

NValid 100

Missing 0

Mean 1.2800


What is the criteria an selecting a bank before opening an account in that bank?


Valid

BRAND NAME 24 24.0 24.0 24.0

SERVICE 41 41.0 41.0 65.0

LOCATION 28 28.0 28.0 93.0

INTEREST 7 7.0 7.0 100.0

Total 100 100.0 100.0

51

Statistics

What is the criteria an selecting

a bank before opening an

account in that bank?

NValid 100

Missing 0

Mean 2.1800


TABLE: 7

Finding: From the above table it shows that among 100 respondents, 41% of people are going for service while they opening their account in bank, 28% of people selecting location, 24% go for brand name & 7% looking for interest.

Normally what balance do maintain in your saving account?


Valid

LESS THAN 10000 39 39.0 39.0 39.0

10000-20000 31 31.0 31.0 70.0

20000-30000 11 11.0 11.0 81.0

ABOVE 30000 19 19.0 19.0 100.0

Total 100 100.0 100.0

52

TABLE: 8

Finding: from the above table shows that among 100 respondents, 39% of people having less

than Rs 10000 in their account, 31% having Rs 10000-20000, 11% having 20000-30000 &

19% having above 30000.

53

Statistics

Normally what balance do

maintain in your saving account?

NValid 100

Missing 0

Mean 2.1000

Std. Deviation 1.12367

What do you used most among the following?


Valid

RTGS/NEFT 7 7.0 7.0 7.0

CHEQUE 21 21.0 21.0 28.0

ATM/DEBIT CARD 70 70.0 70.0 98.0

DD/PO 2 2.0 2.0 100.0

Total 100 100.0 100.0

54

Statistics

What do you used most among

the following?

NValid 100

Missing 0

Mean 2.6700


TABLE: 9

Finding: Above table shows that among 100 respondents, 70% of people using most

ATM/Debit card, 21% of people using their cheque, 7% using RTGS/NEFT and 2% using

DD/PO.

How much rate of interest does your bank offers you?


Valid

4% 82 82.0 82.0 82.0

5% 6 6.0 6.0 88.0

6% 2 2.0 2.0 90.0

7% 10 10.0 10.0 100.0

Total 100 100.0 100.0

55

TABLE: 10

Finding: From the above table it shows that among 100 respondents, 82% of people getting

4% rate of interest from their bank account, 2% getting 6% rate of interest and 10% getting

7% rate of interest and 6% are getting 5% Interest rate.

If you would be provided an increased rate for your accounts,would you like to shift in a different bank?


Valid

YES 68 68.0 68.0 68.0

NO 32 32.0 32.0 100.0

Total 100 100.0 100.0

56

Statistics

How much rate of interest does

your bank offers you?

NValid 100

Missing 0

Mean 1.4000


TABLE: 11

Finding: From the above table it shows that among 100 respondents, 68% of people are ready to swift their banks if they are getting more rate of interest where 32% are satisfied with their existing bank rate of interest.

57

Statistics

If you would be provided an

increased rate for your

accounts,would you like to shift

in a different bank?

NValid 100

Missing 0

Mean 1.3200


4.2- Conclusion:

After doing a depth research and studying the materials available on internet, newspapers,

magazines and journals, I want to conclude that middle class people specially old aged

people prefers more to open saving account in government bank as they have fully trust on

them and these banks open saving account even in very low amount as compare to private

banks.

Now a day, private banks are getting famous day by day because of their good interest rate

and services. Some of the private banks provide unique services which no other government

banks provide e.g. Indusind bank provides saving account no. of customer’s choice, Axis

bank provides my image facility on customer’s debit card and Yes bank provides highest

return on saving account which is 7%p.a. ICICI bank and HDFC bank are the biggest private

banks in India. These banks have over 11,000 ATMs each in India but their interest rate on

saving account is less as compare to Indusind bank and Yes bank but Indusind bank and Yes

bank both have very limited no. of branches and ATMs.In terms of services, Indusind bank is

one the best private bank in India as compare to Axis bank, ICICI bank and HDFC bank but

it’s popularity is very less. Some of the people even don’t hear the name of Indusind bank as

their advertisement is very less as compare to ICICI bank and HDFC bank so people

awareness is very less regarding Indusind bank.

BibliographyWebsites:

www.google.com

www.hdfcbank.com

www.indusind.com

www.icicibank.com

www.yesbank.in

www.axisbank.com

www.wikipedia.com

TEXT BOOKS:

• Kothari C.R. “Research Methodology”, Wishva prakashan, New Delhi, 2001

58

http://www.wikipedia.com/

http://www.axisbank.com/

http://www.icicibank.com/

http://www.indusind.com/

http://www.hdfcbank.com/

http://www.google.com/

ANNEXURE

Dear Sir/Madam,

Name:I am a student of Regional College of Management, Bhubaneswar and presently doing a project on “Comparative Analysis of Saving accounts of Indusind Bank with different Banks”. I request you to kindly fill the questionnaire below

and I assure you that the datagenerated shall be kept confidential.

QUESTIONNNAIRE

In which bank do you have account?1. AXIS 2. ICICIC 3. HDFC 4. OTHERS (……………………..)

Which type of account do you have?1. Saving 2. Current 3. Fixed Deposit 4. Recurring Deposit

Since how many days you have maintained your account in a particular bank?1. 0-1 year 2. 1-2 years 3. Above 2 years

Are you satisfied from the service of the bank for customer?1. Yes 2. No (………………………………………………………………..)

How frequently do you visit your bank branch per month?1. Less than 2 times 2. 2-5 times 3. 5-10 times 4. Over 10 times

Do you invest on the various product of the bank?1. No 2. If yes (………………..)

1.Life insurance 2. General insurance 3. Mutual Fund 4.Others

What is the criteria an selecting a bank before opening an account in that bank?1. Brand Name 2. Service 3. Location 4. Interest rate

Normally what balance do maintain in your saving account?1. Less than 10000 2. 10000-20000 3. 20000-30000 4. Above 30000

What do you used most among the following?

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1. RTGS/ NEFT 2. Cheque 3. ATM/Debit card 4. DD/PO

How much rate of interest does your bank offers you?1. 4% 2. 5% 3. 6% 4. 7%

If you would be provided an increased rate of interest for your accounts, would you like to shift in a different bank)?1. Yes 2. No (………………………………….)

60

Date post:	07-Nov-2014
Category:	Economy & Finance
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Comparative Analysis of Saving accounts of different Banks

Economy & Finance