Comparison of pure saving products of ICICI bank and HSBC bank

Ankit Gupta 10 IB 207 Arjun Arora 10 IB 209 Richa Mehta 10 DM 136 Shivangi Sharma 10 DM 154 Roopanshi Jain 10 DM 140 Ruchi Pal 10 DM 142 Matthieu Baylet 743

Product Savings Bank Account

ICICI Bank Debit-cum-ATM Card - With ICICI Bank Savings Account you will get a debit card that you can use to withdraw cash from any ATM. You may also use your debit card to directly make purchases through a Visa/MasterCard POS (Point of Sale) machine available at most stores! This will help you access your money from anywhere.

HSBC Bank ATM and International Debit Card- Their wide network of ATMs has made banking all the more convenient for you. Withdraw cash, transfer funds, deposit cheques and cash, request for a bank statement, cheque-book or mini-statement and check your balances. Use the international debit card to make purchases at 3, 50,000 merchant establishments in India and at 26 million across the world. Withdraw cash from over 23,500 HSBC/Visa/Plus ATMs in India and from over 1 million VISA ATMs across the world. Credit card-Get an HSBC credit card that lets you access your Savings Account at HSBC ATMs worldwide. Perform banking transactions like cash withdrawals, balance inquiries and transfer of funds. You can also withdraw cash from your HSBC Current / Savings Account at any of our VISA / MasterCard ATMs worldwide. You can automatically transfer extra savings from your savings account to a fixed deposit, through a standing instruction to enable you to earn higher interest You can keep a track of your account with Free Monthly E-statements. You will receive a mail every month to

Credit Card- They Dont have any such Facility

Money Multiplier Facility In this money is moved into high interest savings account earning. Internet Banking - Banking could not have been more convenient. Just log in with your user ID and password

and make banking a hasslefree routine.

your internet banking messages inbox as well as your personal email address informing you when your EStatement is ready. Manage and transact on your savings account, pay your bills and much more by taking advantage of HSBC's Personal Internet Banking

Mobile Banking Transferring funds or getting to know your balance is as easy as sending an SMS. Standing Instructions ICICI Bank accepts and supports Standing Instructions. You don't have to worry about the chore of carrying out a routine transaction. Just set up a Standing Instruction and leave it to us to manage. Nomination Facility - You may nominate a person as beneficiary to your account proceeds DD Call and Collect - Don't waste even a minute in a queue to collect a Demand Draft or Pay Order. On the way to the branch, just call Customer Care, provide details of the DD to be prepared and collect it ready and signed at the branch. Savings Account Portability - You may request for transfer of your Savings Account from one branch to another branch of ICICI Bank by giving a written request in the branch or by calling the 24

X 7 Customer Care OR placing a request through internet banking. The account will be transferred within 2 working days without : suspending the account operations change in account number surrender of debit card, cheque book Free passbook facility w.e.f. Aug 1st 2007 Passbooks can be collected from the nearest branch and can be updated personally with transactions up to three preceding months. No Frills Saving Account The quarterly average balance requirement for this account is nil. No Frills Savings Account allows you to bank with HSBC with a zero minimum balance requirement i.e. you can maintain this account without any minimum or average balance requirement. Cheque Book with 25 cheques Rs 50

One chequebook of 15 leaves per annum free. You can request for additional cheque books (15 leaves) at Rs. 30 (plus service tax as applicable) per chequebook Internet & Mobile banking facility is not available to the customers Cash transactions at base branch are free for the first 12 transactions of a quarter; thereafter in the quarter, Rs.50 per transaction.

Available at a nominal charge of Rs 99 annually. 1 FREE branch transaction per month. This transaction should be of the nature of cash deposit only. Additional transactions (over and above the 1 FREE transaction), will be charged a fee of Rs. 50 per transaction

Nomination facility available

Freedom Savings Account

for bank deposits. There can be only one Nominee for a deposit account whether held singly or jointly. Debit-cum-ATM Card Withdraw cash from any ATM or pay for your shopping or purchases with your ICICI Bank Debit-cum-ATM Card at millions of establishments across India. Money Multiplier Facility Get the liquidity of a Savings Account coupled with high earnings of a Fixed Deposit. Any idle money in your savings account is transferred to the linked fixed deposit. Thus you earn higher interest and at the same time enjoy liquidity. You need to maintain an average quarterly balance of Rs.10, 000; Non maintenance of the minimum average quarterly balance attracts a fee of Rs. 750 per quarter plus transaction charges. Interest payments are made half-yearly into your account. The minimum average balance for a Savings Account Is Rs.2, 500 Free personalized Cheque Book, Internet Banking, and Free International Debit Card. Daily withdrawal and spends of up to Rs.5, 000. Transfer Funds Facility Free multi city chequebook facility All cheques issued by you will be payable at par at various ICICI Bank

Young Stars Savings Account

Special Savings Account

branches across the country Inward remittance through Money2India for FCRA approved trusts No penalty for nonmaintenance of minimum balances in the accounts. Internet and Phone Banking Free Anywhere banking Free Collection of outstation Cheques. The ICICI Bank International VISA debit card is a debitcum-ATM card providing you with the convenience of acceptance at merchant establishments and cash withdrawals at ATMs. Nomination facility available for bank deposits. There can be only one Nominee for a deposit account whether held singly or jointly. Interest is payable half-yearly. All salaried employees but the company needs to have a minimum of 25 employees with average monthly salary of INR 12,000

Silver Savings Account

Salary Account

HSBC Advance :net monthly salary credit of INR 50,000 and above HSBC Premier: customer need to meet criteria of total relationship balance (TRB) of INR 2,50,000 per quarter HSBC Savings: for customers having salary less than INR 50,000 per month