1.

What are the different variants of CASA Products and 2 most important features of
HDFC Bank & IndusInd Bank?
 IndusInd Bank Current Account Product

a) Indus Max Current Account: It is a benefit-oriented Bank Account that offers you a
host of value-for-money and practical features to help you grow your business. Ideal for
small businesses with an Average Monthly Balance (AMB) requirement of Rs. 10,000/-
only.
Features:

I. Anywhere Cash deposit limits: Combined free cash deposit of Rs 6 lacs at

home & non-home location
II. Auto Sweep Deposit: Automatic transfer of excess balance from the current
account into sweep FD.
b) Indus Premier Current Account: It offers a unique blend of control and convenience
through flexible limits which adjust itself to keep up with your ever-evolving business
requirements. Best suited for medium-sized business with an Average Monthly Balance
(AMB) requirement of Rs. 50,000 only.

Features:

I. Dynamic Cash Deposit Limits: Anywhere cash deposit of up to 8 times the

previous month’s AMB or Rs 10 Lacs, whichever is higher,
II. Auto Sweep Deposit: Automatic transfer of excess balance from the current
account into sweep FD.

c) Indus Select Plus Current Account : It offers a premium range of comprehensive

services to help businesses diversify & grow their business output. In addition, it allows
access to curated lifestyle privileges & offers. It is best suited for large size businesses
with an Average Quarterly Balance requirement of Rs. 3 Lacs (at single/group level)

Features:

I. Dynamic Cash Deposit Limits: Anywhere cash deposit of up to 10 times the

previous month’s AMB or Rs 30 Lacs, whichever is higher,
II. Free Visa signature select debit card

d) Indus Select Current Account: It offers a delightful blend of scale and convenience to
help businesses create more value. In addition, it allows access to curated lifestyle
privileges and offers. It isBest Suited for medium size business with an Average
Quarterly Balance requirement of Rs. 1 Lac (at single/group level)

Features:

I. Dynamic Cash Deposit Limits: Anywhere cash deposit of up to 8 times the

previous month’s AMB or Rs 20 Lacs, whichever is higher,
II. Auto Sweep Deposit: Automatic transfer of excess balance from the current
account into sweep FD.
  IndusInd Bank Savings Account Product

a) IndusStox 3-in-1 Account:

This Account seamlessly integrates your Savings, Demat and Trading accounts with the e
ase.

Features:

I. NMC waived Savings Account

II. Free Demat & Discounted Broking Charges enabled through partners

b) Indus Delite Savings Account:

Features:

I. 5% cashback on Amazon*
II. Zero balance requirement

c) Indus Max Active Savings Account

Features:

I. Spend more and Earn More- Exciting Voucher worth 750 INR basis Quarterly spends of 75K INR for
Merchant Payments.
II. Waiver of Non maintenance Charges if you use the Account Actively for your payments of Bills,
Investments into RD and Mutual Funds and setting up recurring mandates using eNACH.

d) 15 left lets complete hdfc

  HDFC Bank Current Account Product
a) Max Advantage Current Account
Features
I. Deposit and withdraw cash upto 12 times current month AMB at any HDFC Bank
branches

II. Cheque Leaves – Free 100 cheque leaves for every Rs. 1 lakh of balance maintained

 HDFC Bank Savings Account Product

a) HDFC Regular Savings Account

Features
I. Safe Deposit Lockers
II. Access to HDFC credit card offers

b) Women’s Savings Account

Features
I. Two-wheeler loan at up to 3.5% lower interest rate
II. Accidental Death Cover of Rs. 10 lakhs

c) HDFC Savings Max Account

Features
I. Insurance coverage of up to Rs. 3.29 crore(including personal death cover, accident
hospitalization cover, international air coverage when booked ticket via debit card,
etc.)
II. Free demand drafts on HDFC Bank locations, up to Rs. 1 lakh per day

d) HDFC Specialé Gold and Specialé Platinum

Features
I. Customized account number (If the initial deposit is more than Rs. 5 lakh)
II. Locker charges waived: Gold: @ 50% for 1st year; Platinum: Free for 1st year

e) HDFC DigiSave Youth Account

Features
I. 5% Cashback up to Rs.100 every month (when standing Instructions set on a debit
card for bill payments)
II. Cashback on debit card: up to Rs. 4,800/year
 f) HDFC Senior Citizen’s Account
Features
I. Accident hospitalisation cover of Rs. 50,000 p.a.
II. Preferential rates on FDs

g) HDFC Kids Advantage Account

Features
I. Free Education Insurance cover: Rs. 1 lakh (on the death of parent/guardian by
vehicular accident)
II. Option to set standing instructions for monthly fund transfer from parent’s account to
the child’s account

h) HDFC Basic Savings Bank Deposit Account (BSBDA)

Features
I. Free passbook, email statements and lifetime BillPay
II. Free TDS certificate issued (basis solicitation)

i) HDFC Super Kids Savings Account

Features
I. Free education insurance cover of Rs. 5,00,000 in the event of death of the
parent/guardian
II. Deposit experience giving a child the flexibility to deposit funds whenever available
with small savings starting from Rs. 1,000

j) HDFC Instant Savings Account Online

Features
I. Send money and pay bills within 48 hours of account opening
II. Transfer money to your account instantly
 2. What are the different variants of Fixed Deposit products and 2 most
important features of each?
HDFC Bank Fixed Deposit Product
Regular Fixed Deposit
 Under this scheme, the depositor is allowed to make investments into the deposit
to earn attractive and higher returns along with flexibility and security.
 The convenience of booking deposits through netbanking
 Nomination facility available
 Loan facility of up to 90 percent is available on the deposit
HDFC Bank 5-Year Tax Saving Fixed Deposit
 Fixed deposit scheme with the sole purpose of tax savings where the deposits are
eligible for tax exemption under Section 800 of the Income Tax Act
 In the case of joint deposits, the tax benefit under 80C will be available only to the
first holder of the deposit
 Interest on deposit will be compounded on a quarterly basis
Foreign Currency Non-Resident (FCNR) Fixed deposit
 FCNR deposit allows eaming indian interests on foreign currencies. As per this
depost faciles, FO holder can repatrate their principal and interest amount
completely 7.05% on FD.
 Allows the fixed depsolt holder to invest their money in foreign currencies
 Benefit of tax eruption at the entire deposit
Non-withdrawable Deposits
 Non-withdrawal deposits allow no premature and partial withdrawals of funds
from fixed deposits. Depositors can avail monthly or quarterly interest pay outs
 Premature withdrawal, pamal withdrawal or sweep in facility not allowed, For
deposits with a tenure above 6 months, the interest is calculated on a quarterly
basis.
 The fixed deposit interest rate applicable for a monthly interest option is
calculated at a discounted rate over the standard fixed deposit.
Overdraft against Fixed deposit
 HDFC Bank offers overdraft against fixed deposits to me ID customers, The
facility helps on Half their financial needs the fixed deposits without breaking
their fixed deposits.
 FD holders can oval up to 90% of overdraft an FD
 Interest to be paid only on the drawn amount.
IndusInd Bank Fixed Deposit Product
Fixed Deposit Scheme
 The tenure for the IndusInd Bank Term Deposit falls between 7 days and more
than 5 years.
 The IndusInd FD interest rate ranges between 3.00% p.a. and 6.50% p.a. for
general public.
 TDS on FD is applicable to the interest income.
Senior Citizen Scheme
 In case of deposits below Rs.1 crore, senior citizens get rates which are 0.50%
more than the regular rates.
 One needs to make a deposit of at least Rs.10,000.
 The interest income is taxed as per TDS.
 The maturity period ranges from 7 days to 10 years.
Sweep In/Out scheme
 This scheme allows transfer of funds from an FD account to a linked
Savings/Current Account and vice versa.
 If the balance on the Savings/ Current account is inadequate, funds are credited to
the account from the Term Deposit account.
 The tenure period is from 30 days to 2 years.
Indus Tax Saver scheme
 This variant of FD helps one get tax benefits as mentioned in Section 80C of the
Income Tax Act, 1961.
 The interest rate for Indus Tax Saver scheme is 6.50% p.a. for the general public.
 The interest rate for Indus Tax Saver scheme is 7.00% p.a. for the senior citizens.

Question 3) What are the different variants of Recurring Deposit Products of these
banks and three most important features of each?

HDFC Bank Recurring Deposit Products

NRE Recurring Deposit
 Invest as little as ₹ 1,000 and in multiples of ₹ 100 thereafter up to
Rs 1,99,99,900.
 Earn interest at par with an NRE Fixed Deposit,Interest is compounded
quarterly,Get the interest pay out on maturity.
 1 year (and in multiples of three months thereafter) to 10 years.The RD has a lock-
in period of 1 year (if you close your deposit within a year, you will receive only
the principal amount and no interest)
 Repatriate both principal and interest at any time.
NRO Recurring Deposit
 Invest as little as ₹ 1,000 and in multiples of ₹ 100 thereafter up to Rs
1,99,99,900
 A minimum tenure of 6 months (and in multiples of 3 months thereafter) up to a
maximum tenure of 10 years.
 The NRO RD has a lock-in period of 1 month (if you close your deposit within a
month, you will receive only the principal amount and no interest)
  TDS is applicable on interest earned on  NRO RD accounts TDS is deducted at
30% plus applicable surcharge and cess.

My Passion Fund
 Interest will be paid from the date of instalment/top-up amount paid
 Premature liquidation option is available
 Minimum Interest earning period is one month for NRO My passion fund
account and 12 Months for NRE my passion fund account 
 TDS will be deducted when interest payable for NRO My Passion Fund.  TDS is
deducted at 30% plus applicable surcharge and cess. 

IndusInd Bank Recurring Deposit Products

Regular Recurring Deposit

 Can be opened with a minimum deposit of Rs.500

 Nomination facility available
 Premature closure allowed
 Instalments can be paid by a standing order, ECS mandate or by regular direct
remittance

Value-Added Recurring Deposit

 Listed below are the features of Value-Added Recurring Deposit:
 Can be opened for a period of 12 months
 The monthly instalment is determined based on the cost of the package
 Minors can also open the RD account

Question 5) What are the different variants of Remittance and Payment Products
and 2 most
important features of each?

HDFC Bank Remittance Products

Foreign Currency Demand Drafts

 Low Charges: The Charges for Issuing a Demand Draft is Lesser as compared to
sending a remittance.
 Choice of Multiple Currency: We have an arrangement to issue FCY Demand
Draft in 9 foreign currencies which are payable in your respective locations,
namely AUD, CAD, USD, NZD, SGD, HKD, GBP, EUR, JPY.
 Protection Against exchange rates Volatility: Save yourself from the risk of
varying exchange rates. The demand draft issued to you is in the Foreign
Currency. Hence, no risk of exchange rates Volatility after you have taken the
draft
Foreign Currency Cheque Collection
 Choice of Multiple Currency: We have an arrangement to collect Cheque in 14
foreign currencies which are payable in your respective locations, namely USD,
GBP, EUR, CAD, SGD, AUD, NZD, HKD, CHF, SEK, NOK, AED ,SAR, ZAR,
DKK, JPY, MYR, OMR, THB, LKR

Inward Remittances
 Secured channel for fund transfer
 Direct Credit to your HDFC Account
 Most convenient channel for creating FCNR deposits
 Inward Remittances is accepted in 22 currencies namely
Outward Remittances
 Faster and hassle free transfers: Your money will reach within 72 hours of your
instructions anywhere in the world To send Outward Remittance you have to just
walk into any of our branches to fill up the required documentation.
 Choice of Multiple Currency: HDFC Bank can send money overseas in 22 different
currencies through SWIFT.
 Currency notes will be offered subject of availability of the same at the branch.
 HDFC bank reserves the right to reject the request on any Foreign Exchange
transaction if the transaction is not adhering to internal compliance or RBI guidelines

Payment Product of HDFC bank

Cash management services
 Issue local cheques at all HDFC Bank branch locations with a single
chequebook,Get at-par facility for statutory payments such as dividends, interest,
etc
 Make multiple payment instructions through a single file, Upload bulk payments
for quick and error-free delivery.
Direct pay mode of payment
 Shop for products online, pay utility bills or insurance premiums, Book rail and
flight tickets instantly
 Make Merchant payment online directly through your NetBanking.
Pay Zapp for business
 Allow your buyers to pay via mobile and desktop using cards or NetBanking, No
need for customer to download app or register for a service
 Use PayZapp for Business in a variety of scenarios:
 Payment on Delivery (restaurants, groceries, etc)
 Advance Payment Collection (hotels, hospitals, architects, event managers, etc)
 Balance Payment Collection (garages, cable operators, service providers, etc)
 Use the in-built dashboard to keep a check on payments received live.
RTGS (Real Time Gross Settlement)
 Transfer funds greater than ₹ 2 lakhs, No upper limit for RTGS transactions.
  Enjoy faster settlement cycles, Be notified about funds credited to your account.

ECS Credit & Debit

 ECS Credit is ideal for paying interest, dividends, and other frequent payments, ECS
Debit is perfect for collecting payments of utility bills, EMIs, etc
 Easily track your payments or collections through stored transaction histories, Save on
administrative machinery and costs of printing, dispatch and reconciliation of paper
instruments.
IndusInd Bank Remmitance & Payment Product
To do

References

 https://www.myloancare.in/fixed-deposit/hdfc-bank]
 https://www.bankbazaar.com/fixed-deposit/indusind-fixed-deposit.html
 https://www.hdfcbank.com/nri-banking/save/nri-deposits/recurring-deposit
 https://www.bankbazaar.com/recurring-deposit/indusind-bank-recurring-deposit.html
 https://www.hdfcbank.com/personal/pay/money-transfer/remittance
 https://www.hdfcbank.com/sme/pay/payments-and-collections/cash-management-
services