Professional Documents
Culture Documents
A PROJECT REPORT
On
Study of Saving Account in Standard Chartered Bank &
Comparative Analysis of its with Some Private Leading
Banks
Submitted to:-
Nitish Dipankar
New Delhi
Submitted by:-
Prakash Kumar Soni
MBAL1S2, Sec – C
(2007 – 09)
Marketing
Acknowledgement
First of all I want to thanks the almighty God, who give me the courage to
complete this project successfully. Completing a project is never one sided
approach. I would like express my deep sense of gratitude to Mr. Praveen
Puri (Director, Skyline Business school) who provided me the opportunity
to work with the organisation.
I would also like to thank the other staff members at the organization for
their kind co-operation during my training period. Last but not the least I
would like to thank my parents , friends , and family members without
whose support and encouragement it was impossible for me to complete
the project.
Table of Content
1. Executive Summary 5
3. Company profile 10 - 17
4. Saving Account 18 - 19
4.2 Features 18
5.3 Parivaar 22
5.4 2 –in – 1 22
6. Insurance 25 - 26
9. Mutual Funds 32 - 42
11. Taxation 45 - 48
16. Survey 71 - 81
16.1 Objective 71
17.Conclusion 82
19. Bibliography 84
20. Annexure 85
1. Executive Summary
Since the project aims at analyzing the market potential and wants to
know that whats people want in using the saving account service, a direct
survey was conducted in Delhi and NCR region. The sample size of the
population was 60. People in the age group 20 and above and income
group ranging from 2.5 lakhs and above were targeted for the survey
process.
The results were then analyzed in excel with the help of different types of
charts and graphs (bar, line, and pie graphs). Final analyses were then
carried out based on these graphs and charts.
One of the inferences that were drawn from the analysis was that none of
the income and age categories of people wanted to use new bank service
like internet banking, doorstep banking, mobile banking, online banking
etc. People were also concentrated about how much wide ATM network s
bank has. The new generation are paying much attention on services and
brand name of the organisation.
2. Introduction of Banking
purchase goods and services; and basic cash management services such
as check cashing and foreign currency exchange.
On the other hand the Private Sector Banks in India are witnessing
immense progress. They are leaders in Internet banking, mobile banking,
phone banking, ATMs. On the other hand the Public Sector Banks are still
facing the problem of unhappy employees. There has been a decrease of
20 percent in the employee strength of the private sector in the wake of
the Voluntary Retirement Schemes (VRS). As far as foreign banks are
concerned they are likely to succeed in India.
Indusland Bank was the first private bank to be set up in India. IDBI, ING
Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi
Bank Ltd, Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some
Private Sector Banks. Banks from the Public Sector include Punjab
National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank,
Andhra Bank etc.
3. Company Profile
The Standard Bank was founded in the Cape Province of South Africa in
1862 by John Paterson. Commenced business in Port Elizabeth, South
Africa, in January 1863.
The Chartered Bank was founded by James Wilson following the grant of a
Royal Charter by Queen Victoria in 1853.Chartered opened its first
branches in Mumbai (Bombay), Calcutta and Shanghai in 1858, followed
by Hong Kong and Singapore in 1859.
In 1986 a hostile takeover bid was made for the Group by Lloyds Bank of
the United Kingdom. When the bid was defeated, Standard Chartered
entered a period of change. Provisions had to be made against third world
debt exposure and loans to corporations and entrepreneurs who could not
meet their commitments. Standard Chartered began a series of
divestments notably in the United States and South Africa, and also
entered into a number of asset sales.
Since the early 90s, Standard Chartered has focused on developing its
strong franchises in Asia, the Middle East and Africa, using its operations
in the United Kingdom and North America to provide customers with a
bridge between these markets. We have also focused on consumer,
corporate and institutional banking, as well as the provision of treasury
services – areas in which the Group has particular strength and expertise.
In the new millennium we acquired Grindlays Bank from the ANZ Group
and the Chase Consumer Banking operations in Hong Kong in 2000.
3.5.3 Values
• Responsive
• Trustworthy
• International
• Creative
• Courageous
3.5.4 Approach
• Participation
• Competitive positioning
• Management Discipline
• Customers
• Our People
• Communities
• Investors
• Regulators
• NRI Accounts
• Term Loan
• Express Trade
• Trade Services & Working Capital
• Business Installment Loan
• International Trade Account
• Loan/Overdraft Against Property
Actually my survey has done in Metro city where only 4 types of saving
account runs. “No frills” and “aaSaan account” are not for Metro cities.
3. Saving account
account at any time, at least at any time the bank is open, or one has
access to the bank’s ATM.
• Indian Residents
• NRI’s
• Clubs, Associations, Trusts and Registered Societies
• HUF (Hindu Undivided Family)
The Standard Chartered aXcess Plus Account comes with a globally valid
debit - cum - ATM card which allows customers to aXcess all Standard
Chartered Bank ATMs and provides instant cash at all Visa Network ATMs
in India and abroad. This account provides unparalleled access to your
money through a variety of channels.
Highlights:-
Category Regular
Minimum AQB Rs. 60,000 if balance in linked
saving a/c is atleast Rs 10,000
Interest Rate 3.5%
Card offered ATM cum Debit Card
ATM Cards
Replacement of Pin Rs 50
Lost card re-issuance Rs 100
Some features:-
of just Rs. 50,000, you get a host of services from Standard Chartered
absolutely free.
Some features:-
This family account allows you to maintain your individual identity while
allowing you to tap your family's financial strength. Parivaar is a unique
Some features:-
The 2-in-1 account gives you the facility of linking your fixed deposits with
a savings or current account. In case of any shortfall in the savings or
current account, funds will be automatically swept in from the linked fixed
deposits, thus giving you a combination of both liquidity and higher
returns.
And that’s not all either. In case you need to withdraw amounts in excess
of what is available in your savings or current account, we will break your
deposit for the exact amount you require. The rest of the deposit
continues earning the original high interest.
Some features:-
5. Insurance
Life is a roller coaster ride and is full of twists and turns. We cannot take
anything for granted in life. Insurance policies are a safeguard against the
uncertainties of life.
Insurance is system by which the losses suffered by a few are spread over
many, exposed to similar risks. Insurance is a protection against financial
loss arising on the happening of an unexpected event. Insurance policy
helps in not only mitigating risks but also provides a financial cushion
against adverse financial burdens suffered.
Insurance policies cover the risk of life as well as other assets and
valuables such as home, automobiles, jewelry et al. On the basis of the
risk they cover, insurance policies can be classified into two categories:
• Endowment Policy
• Whole Life Policy
• Term Life Policy
• Money-back Policy
• Joint Life Policy
• Group Insurance Policy
• Loan Cover Term Assurance Policy
• Pension Plan or Annuities
• Unit Linked Insurance Plan
• Home Insurance
• Health Insurance
• Motor Insurance
• Travel Insurance
Unit linked insurance plan (ULIP) is life insurance solution that provides
for the benefits of protection and flexibility in investment. The investment
is denoted as units and is represented by the value that it has attained
called as Net Asset Value (NAV). The policy value at any time varies
according to the value of the underlying assets at the time.
• Life protection
• Investment and Savings
• Flexibility
• Adjustable Life Cover
• Investment Options
• Transparency
• Options to take additional cover against
• Death due to accident
• Disability
• Critical Illness
• Surgeries
• Liquidity
• Tax planning
The flexible Unit linked life insurance plans at Standard Chartered bank
provides the opportunity to participate in market-linked returns while
enjoying the valuable benefits of life insurance
Allianz Group is one of the world's leading insurers and financial services
providers. Founded in 1890 in Berlin, Allianz is now present in over 70
countries with almost 174,000 employees.
• You have three simple terms to choose from – 15, 20 and 25 yrs.
• Tax Save
• The charges paid for UL Critical Illness and UL Hospital Cash Benefit
are eligible for tax benefits as per Section 80(D) of the Income Tax
Act.
Parameter Details
Minimum Age at Entry 0 years, risk commences at age 7.
(18 years in case of all Additional Rider Benefits
Maximum Age at Entry 60 years (50 years in case of all Additional Rider
Benefits)
Minimum Maturity Age 18 years
Maximum Maturity Age 75 years
Additional Rider Benefit 65 years for all riders except UL WOP
Ceasing Age
Minimum Premium Rs. 10,000 per yearly instalment,
(for Male lives) Rs. 5,000 per half-yearly instalment,
Rs. 1,000 per monthly mode
Minimum Top Up Premium is Rs. 5,000
Minimum Premium Rs. 7,500 per yearly instalment,
(for Female lives) Rs. 3,750 per half-yearly instalment,
Rs. 750 per monthly mode
Minimum Top Up Premium is Rs. 5,000.
(Monthly mode for both male and female lives is
available through ECS and Salary Saving
Scheme only).
Minimum Sum Assured 0.5 * Policy Term * Annualized Premium
Maximum Sum Assured Multiplier * Annualized Premium
(Multiplier would depend on the age at entry
and
any riders chosen)
8. Mutual funds
The year 1993 saw sweeping changes being introduced in the mutual fund
industry with private sector fund houses making their debut and the
laying down of comprehensive mutual fund regulations. Over the years,
the Indian mutual funds industry has witnessed an exponential growth
riding piggyback on a booming economy and the arrival of a horde of
international fund houses.
1987 marked the entry of non- UTI, public sector mutual funds set up by
public sector banks and Life Insurance Corporation of India (LIC) and
General Insurance Corporation of India (GIC). SBI Mutual Fund was the
first non- UTI Mutual Fund established in June 1987 followed by Canbank
Mutual Fund (Dec 87), Punjab National Bank Mutual Fund (Aug 89),
Indian Bank Mutual Fund (Nov 89), Bank of India (Jun 90), Bank of
Baroda Mutual Fund (Oct 92). LIC established its mutual fund in June
1989 while GIC had set up its mutual fund in December 1990. At the end
of 1993, the mutual fund industry had assets under management of
Rs.47,004 crores.
With the entry of private sector funds in 1993, a new era started in the
Indian mutual fund industry, giving the Indian investors a wider choice of
fund families. Also, 1993
was the year in which the first Mutual Fund Regulations came into being,
under which all mutual funds, except UTI were to be registered and
governed. The erstwhile Kothari Pioneer (now merged with Franklin
Templeton) was the first private sector
Mutual fund registered in July 1993. The 1993 SEBI (Mutual Fund)
Regulations were substituted by a more comprehensive and revised
Mutual Fund Regulations in 1996. The industry now functions under the
SEBI (Mutual Fund) Regulations 1996.
The number of mutual fund houses went on increasing, with many foreign
mutual funds setting up funds in India and also the industry has
witnessed several mergers and acquisitions. As at the end of January
2003, there were 33 mutual funds with total assets of Rs. 1,21,805
crores. The Unit Trust of India with Rs.44,541 crores of assets under
management was way ahead of other mutual funds.
In February 2003, following the repeal of the Unit Trust of India Act 1963
UTI was bifurcated into two separate entities. One is the Specified
Undertaking of the Unit Trust of India with assets under management of
Rs.29,835 crores as at the end of January 2003, representing broadly, the
assets of US 64 scheme, assured return and certain other schemes. The
Specified Undertaking of Unit Trust of India, functioning under an
administrator and under the rules framed by Government of India and
does not come under the purview of the Mutual Fund Regulations.
The second is the UTI Mutual Fund Ltd, sponsored by SBI, PNB, BOB and
LIC. It is registered with SEBI and functions under the Mutual Fund
Regulations. With the bifurcation of the erstwhile UTI which had in March
2000 more than Rs.76,000 crores of assets under management and with
the setting up of a UTI Mutual Fund, conforming to the SEBI Mutual Fund
Regulations, and with recent mergers taking place among different private
sector funds, the mutual fund industry has entered its current phase of
consolidation and growth. As at the end of September, 2004, there were
29 funds, which manage assets of Rs.153108 crores under 421 schemes.
Mutual Funds employ the services of skilled professionals who have years
of experience to back them up. They use intensive research techniques to
analyze each investment option for the potential of returns along with
their risk levels to come up with the figures for performance that
determine the suitability of any potential investment.
Returns in the mutual funds are generally better than any other option in
any other avenue over a reasonable period of time. People can pick their
investment horizon and stay put in the chosen fund for the duration.
Equity funds can outperform most other investments over long periods by
placing long-term calls on fundamentally good stocks. The debt funds too
will outperform other options such as banks. Though they are affected by
the interest rate risk in general, the returns generated are more as they
pick securities with different duration that have different yields and so are
able to increase the overall returns from the portfolio.
9.3 Liquidity
Unlike the company fixed deposits, where there is little control with the
investment being considered as unsecured debt from the legal point of
view, the Mutual Fund industry is very well regulated. All investments
have to be accounted for, decisions judiciously taken. SEBI acts as a true
watchdog in this case and can impose penalties on the AMCs at fault. The
regulations, designed to protect the investors’ interests are also
implemented effectively.
9.5 Transparency
exists in the system. This is unlike any other investment option in India
where the investor knows nothing as nothing is disclosed.
9.6 Charges
9.7 Tax
Mutual Fund industry today, with about 34 players and more than five
hundred schemes, is one of the most preferred investment avenues in
India. However, with a plethora of schemes to choose from, the retail
investor faces problems in selecting funds. Factors such as investment
strategy and management style are qualitative, but the funds record is an
important indicator too. Though past performance alone cannot be
indicative of future performance, it is the only quantitative way to judge
The only caveat whilst using any risk-adjusted performance is the fact
that their clairvoyance is decided by the past. Each of these measures
uses past performance data and to that extent are not accurate indicators
of the future.
• Taxes have to be paid on the income the investors make even if you
reinvest the profit
• Open-end fund
• Exchange-traded funds
• Equity funds
o Capitalization
o Growth vs. value
o Index funds versus active management
• Bond funds
• Money market funds
• Funds of funds
• Hedge funds
The various factors where the ULIPs and Mutual Funds differ are as
follows:
Tax benefits Section 80C Section 80C benefits are available only on
benefits are investments in tax-saving funds
available on all
ULIP
investments
With these comparable there are certain factors where in these two differ.
Mutual funds are essentially short to medium term products. The liquidity
that these products offer is valuable for investors. ULIPs, in contrast, are
positioned as long-term products and going ahead, there will be separate
playing fields for ULIPS and MFs, with the product differentiation between
them becoming more pronounced. ULIPs do not seek to replace mutual
funds, they offer protection against the risk of dying too early, and also
help people save for retirement. Insurance has to be an integral part of
one's wealth management portfolio. Further, exposure of Indian
households to capital markets is limited.
10.Taxation
Since 1991 tax system in India has under gone a radical change, in line
with liberal economic policy and WTO commitments of the country. Some
of the changes are:
senior citizens ,women and individuals in general, etc. the budget gives
much relief to the middle class as it aims at reducing their overall tax
liability by a good measure. Here we can take a look at the direct tax
proposals and the impact they will have on our finances.
The exemption limit for personal income tax has been enhanced to Rs.
1.80 lakh from the present Rs. 1.45 lakh for women (below the age of 65
years),Rs. 2.25 lakh from the present Rs.1.95 lakh for senior citizens and
Rs.1.5 lakh from the present Rs.1.1 lakh for others. The revised tax slabs
are as tabulated on the next page.
The revision of the income slabs and the applicable rates of tax will result
in substantial savings for individuals across all income ranges. The
11.ABN-AMRO Bank
12.1 History
The origin of ABN AMRO Bank can be traced to 1824 King Willem-I issued
a royal decree creating the Nederlandsche Handel-Maatschappij (NHM)
with the aim of reviving trade between the Netherlands and the Dutch
East Indies. In 1964, NHM merged with De Twentsche Bank to form
Algemene Bank Nederland (ABN), while Amsterdamsche Bank and
Rotterdamsche Bank joined to become Amsterdam-Rotterdam (Amro)
Bank. In 1991, these two banks merged to form ABN AMRO Bank.
Today, ABN AMRO's international network comprises 3,568 branches and
offices in over 320 cities and 76 countries and territories, with over
100,000 highly qualified staff.
In India, ABN AMRO Bank has launched its Private Banking Services,
offering a comprehensive range of high quality Portfolio Advisory Services
along with a comprehensive transaction execution platform. ABN AMRO
(India) has branches in Bangalore, Baroda, Chennai, Delhi, Gurgaon,
Hyderabad, Kolkata, Lucknow, Mangalore, Moradabad, Mumbai, Noida,
Panipat, Pune, Surat and Tirupur.
• Royalties: When you open an ABN AMRO Flex Plus Savings Account,
you automatically become a member of India’s first Banking
Rewards Program.
• Co-branded Indian Airlines Debit Card: Free membership to IA
Flying Returns Program, Free upgrade to business class, 10%
discount on regular fares, 5% discount on APEX fares and bonus
royalties on tickets, and much more. These power packed features
are available at a registration fee of Rs.399 and renewal charges of
Rs.250 p.a. (service tax extra).
suiting your financial needs and risk profile. The account offers you
transactional ease and takes banking to a new level with its host of
powerful features.
All company needs to do is open your incentive account today for your
monthly salary and you experience the personalised service that makes
ABN AMRO the better alternative in banking. Because your work
pressures shouldn't be compounded by a bank that doesn't respond to
your crunching schedules.
Features:-
13.1 History
HDFC Bank was incorporated in August 1994 in the name of 'HDFC Bank
Limited', with its registered office in Mumbai, India. The Bank commenced
operations as a Scheduled Commercial Bank in January 1995.
The Housing 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.
Headquartered in Mumbai, HDFC Bank, has a network of over 531
branches spread over 228 cities across India. All branches are linked on
an online real-time basis. Customers in over 120 locations are serviced
through Telephone Banking. The Bank also has a network of about over
1054 networked ATMs across these cities. HDFC Bank's ATM network can
be accessed by all domestic and international Visa / MasterCard, Visa
Electron / Maestro, Plus / Cirrus and American Express Credit / Charge
cardholders.
HDFC Bank has won many awards for its excellent service. Major among
them are "Best Bank in India" by Hong Kong-based Finance Asia
magazine in 2005 and "Company of the Year" Award for Corporate
Excellence 2004-05.
• Wide network of branches and over thousand ATMs to meet all your
banking needs no matter where you are located.
• Bank conveniently with facilities like NetBanking and MobileBanking-
check your account balance, pay utility bills or stop cheque
payment, through SMS.
• Never overspend- Shop using your International Debit Card that
reflects the actual balance in your savings account.
• Personalised cheques with your name printed on each cheque leaf
for enhanced security.
• Take advantage of BillPay, an instant solution to all your frequent
utility bill payments. Instruct for payment over the phone or
through the Internet.
• Avail of facilities like Safe Deposit Locker, Sweep-In and Super
Saver facility on your account.
• 3 Free transactions on SBI/Andhra Bank ATMs per month.
• Free Payable-at-Par chequebook, without any usage charges upto a
limit of Rs.50,000/- per month.
• Free InstaAlerts for all account holders for lifetime of the account.
• Free Passbook facility available at home branch for account holders
(individuals).
• Free Email Statement facility.
Features:-
Features:-
14.1 History
ICICI Bank is India's second-largest bank. The Bank has a network of
about 573 branches and extension counters and over 2,000 ATMs. ICICI
In 1999, ICICI become the first Indian company and the first bank or
financial institution from non-Japan Asia to be listed on the NYSE. In
2001, ICICI bank acquired Bank of Madura Limited.
ICICI Bank set up its international banking group in fiscal 2002 to cater to
the cross border needs of clients and leverage on its domestic banking
strengths to offer products internationally. ICICI Bank currently has
subsidiaries in the United Kingdom, Canada and Russia, branches in
Singapore and Bahrain and representative offices in the United States,
China, United Arab Emirates, Bangladesh and South Africa.
Today, ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of delivery
channels and through its specialised subsidiaries and affiliates in the areas
of investment banking, life and non-life insurance, venture capital and
asset management.
• Saving account
• Special Saving Account
• People’s Saving Account
• No Frill Account
Features
Minimum Balance*
Features
• A savings account from ICICI Bank available only through our Rural
branches.
• Minimum balance of Rs.500/-.
• No annual fees.
• Unlimited transactions at the base branch where you have opened
your account.
• Internet, Phone and Mobile banking free of cost.
Features
Standard
S Chartere ABN
.no Features d ICICI AMRO HDFC
1 Avg.Quaterly Bal. 10,000 10000 (ADB)10000 5000
2 Rate of Interest 3.50% 3.50% 3.50% 3.50%
25(Per
3 Internet Banking Free Free month) Free
4 Doorstep Banking Free Free Free free
5 Phone Banking Free Free 100 50
Standing 125+25per
6 Instructions tr. 50 150+25
7 DDs n payorders Free 2/- per 1000 50 Free
Acc. Maintainace
8 charges
(a) AQB<5000 1,500 750 500 750
(b)AQB>or=5,000&
<7000 1,250 750 500 750
(c)AQB>or=7,500&
<10000 750 750 500 750
(d)AQB>or=10,000 0 0 0 0
Quarterly
9 Statement Free Free Free free
10 Monthly Statement Free Free Free free
Duplicate
11 Statement 100/150 100 100 100
12 Pass Book Free Free Free
Duplicate Pass
13 book 100
14 Cheque book Free Free 50 Free
15 ATM card Free Free Free Free
ATM card usage
16 outside India 140 100
Debit card(Per
17 year) 200 99 180 110
Gold Debit
18 card(Per year) 799 400 500
19 Lost Card re-issue
(a) ATM Card 100 200 100
(b) Debit card 200 200 100
(c) Gold Debit card 799 500
20 Manual cash
Skyline Business School, Gurgaon 70
Study of Saving Account in SCB & Comparative Analysis of its With Some Private Leading Banks
withdrawal
(a) within India 100
(b) outside India 150
Replacement of
21 Pin Free 25 25
22 Account closure 500 50 500 100
23 Stop Payment
(a) Single cheque 100 100 100 50
(b) range of
cheques 200 100 100 100
24 Cheque return
(a)issued by
customer 300 350 350 350
(b)deposited by
customer 100 100 100 100
150+other
(c ) Foreign banks 125+
currency cheques charges charges 200
16.1 Objective:-
• To know the customers interests in saving account
• To know the present scenario of saving account
• To know what’s the service facility customer want.
• To know the how much customers want to more facilities in using
bank account
• To understand, are they wanted to open a saving account in another
bank, if yes then what is the reason behind it.
The second phase consisted of analyzing the primary data. The analysis
consisted of graphs and inferring results or trends from those graphs.
Some general conclusions could be drawn from the primary data.
Skyline Business School, Gurgaon 72
Study of Saving Account in SCB & Comparative Analysis of its With Some Private Leading Banks
1. Male Vs Female
In this survey total 60 persons participated. Out of 60, 54 are male and 6
are female. If we take the people age group wise then 20-30(44%), 30-
40(28%), 40-50(23%) and 50-60(5%). This shows that younger
generation more attract towards privatisation means private sector.
occupation.
Here we easily see that the 55% people are businessman and 40% are
from private jobs. And in income group 37% people are from income
group 4.5 -5.5 lakh and the 30% are 3.5-4.5 lakh. So conclusion that
here the majority of businessman and private job person are interested in
saving account.
5. Age Group Vs Using Bank
Here the market potential of private sector banks ICICI leading in Saving
Account. The age group 20-30 & 30-40years is the choice of ICICI Bank.
If we take Income group wise, in this ICICI also leading, second place
occupied by HDFC.
Here we find that the market potential of ICICI Bank is high because out
of 60 people 31(51%) peoples have ICICI Saving Account. HDFC & Other
are equivalent. Where Standard chartered Bank has only 2% people.
As far as the using features are concerned the people are more
aggressive towards the ATM Network then after they said about the
Service and after the service they looking for other. Other included new
era service like Doorstep Banking, Mobile Banking, and Online Banking. In
survey I found that a person usage ATM thrice and more times in a week.
Its shows that how people devoted about ATM Network and also for other
Services like Mobile banking, Doorstep Banking, Online Banking and etc.
The overall analysis said that feature which people like in using bank is
ATM Network and after that other services like Door Banking, Internet
Banking, Online Banking, Mobile Banking and etc. Every person wants to
each thing at his Door because nobody wants to expense time.
Here overall percentage of preferring bank (if people want to open a new
saving account) is ICICI, 39% and Standard Chartered is 25%. It show
the how people go for using new feature and better Service. In this also
people want to go for a brand name which Standard chartered bank has.
Here I find that the age group of 20-30 preferred Brand Name like
Standard Chartered Bank which is 39%. Except the age group 40-50 all
are prefer SCB. The Second position occupied by ICICI Bank. The reason
of why people prefer Standard Chartered Bank and ICICI bank more. I am
discussing in next chart.
In this competitive world people do not want waste his time. So he/she is
more conscious about time and money saving. I found that in the above
chart people pay more attention on banking core services in the other
hand they also want everything at his/her home. They also want to utilise
new banking services like mobile alert, fund transfer through mobile,
online banking, and doorstep banking etc.
16.Conclusion
We all are well know that how much time is precious for everyone.
Everyone do not want waste his/her time single minute. In this
competitive era world are globalised. Due to globalisation every person
want to be fastest. Standard Chartered Bank also want to be no. 1
through the offer more and more services.
I found that the potential of saving account is more than current account.
As we know that a saving account can be sole name or joint name. So,
most probably people have a saving account. People like saving account
because its service are beneficiary and due to competition more services
offered by the banks.
Last but not least I found that age group 20-30 & 30-40years people
more conscious about ATM Network, Banking Services and Brand name.
17.Limitation of project
18.Bibliography
www.standardchartered.co.in
www.icicibank.com
www.hdfcbank.com
www.abnamro.co.in
www.business.mapsofindia.com
www.rediff.com/money
www.finance.indiamart.com
www.rupeetimes.com
www.tmb.in/doc/sb_rules.pdf
www.traderji.com
http://www.iloveindia.com/finance/insurance/life-insurance/unit-linked-
insurance-plans.html
http://www.altiusdirectory.com/Finance/investments-mutual-funds.html
http://www.rupeetimes.com/compare/savings_accounts/icici_bank.html
http://www.indiahousing.com/banks-in-india/icici-bank.html
19.
Annexure - 1
QUESTIONNAIRE:-
Name:- Sex:- M / F
Mobile:-
1. Age:-
5. Above 60 Yrs
2. Occupation:-
3. Businessman 4. Others
3. Income:-
4. Expenditure monthly:-
5. Other
3. Service 4. Others
5. Others
Annexure – 2
Annexure – 3
Parameter Details
Minimum Age at Entry 0 years, risk commences at age 7.
(18 years in case of all Additional Rider Benefits
Maximum Age at Entry 60 years (50 years in case of all Additional Rider
Benefits)
Minimum Maturity Age 18 years
Maximum Maturity Age 75 years
Additional Rider Benefit 65 years for all riders except UL WOP
Ceasing Age
Minimum Premium Rs. 10,000 per yearly instalment,
(for Male lives) Rs. 5,000 per half-yearly instalment,
Annexure – 4
Standard
S Chartere ABN
.no Features d ICICI AMRO HDFC
1 Avg.Quaterly Bal. 10,000 10000 (ADB)10000 5000
2 Rate of Interest 3.50% 3.50% 3.50% 3.50%
25(Per
3 Internet Banking Free Free month) Free
4 Doorstep Banking Free Free Free free
5 Phone Banking Free Free 100 50
Standing 125+25per
6 Instructions tr. 50 150+25
7 DDs n payorders Free 2/- per 1000 50 Free
Acc. Maintainace
8 charges
(a) AQB<5000 1,500 750 500 750
(b)AQB>or=5,000&
<7000 1,250 750 500 750
(c)AQB>or=7,500&
<10000 750 750 500 750
(d)AQB>or=10,000 0 0 0 0
Quarterly
9 Statement Free Free Free free
10 Monthly Statement Free Free Free free
Duplicate
11 Statement 100/150 100 100 100
12 Pass Book Free Free Free
Duplicate Pass
13 book 100
14 Cheque book Free Free 50 Free
15 ATM card Free Free Free Free
ATM card usage
16 outside India 140 100
Debit card(Per
17 year) 200 99 180 110
Gold Debit
18 card(Per year) 799 400 500
19 Lost Card re-issue
(a) ATM Card 100 200 100
(b) Debit card 200 200 100
(c) Gold Debit card 799 500
Manual cash
20 withdrawal
(a) within India 100
(b) outside India 150
Replacement of
21 Pin Free 25 25
22 Account closure 500 50 500 100
23 Stop Payment
(a) Single cheque 100 100 100 50
(b) range of
cheques 200 100 100 100
24 Cheque return
(a)issued by
customer 300 350 350 350
(b)deposited by
customer 100 100 100 100
150+other
(c ) Foreign banks 125+
currency cheques charges charges 200