Standard Charerted Bank

Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

STANDARD CHARTERED BANK

AN INTERNSHIP REPORT ON STUDY OF SAVING ACCOUNT OF SCB WITH ITS KEY COMPETITORS AND CUSTOMER SURVEY

SUNIL KUMAR (2008-2010) L1S2, SEC-C

IN PARTIAL FULFILMENT OF THE MASTERS PROGRAM IN BUSINESS ADMINISTRATION, SKYLINE BUSINESS SCHOOL, GURGAON, INDIA

SKYLINE BUSINESS SCHOOL (GURGAON CAMPUS) 122 INSTITUTIONAL AREA SECTOR-44, GURGAON-122003, INDIA AUGUST 2009

Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

___________________________________________________

ACKNOWLEDGEMENT

I would like to thank my Mr. Anil Garg, Branch Manager, Standard Chartered Bank, without whom an internship with, Standard Chartered Bank (SCB) would not have been possible. I am grateful to him for having taken time off his busy schedule and spoken to the concerned person to get me this internship. I express my gratitude to the Standard Chartered Bank (SCB) for having given me an opportunity to work with them and make the best out of my internship. I thank my trainer, Mr. Rajesh Shukla for having trained me and constantly guided and supported me throughout the training period. My heartfelt gratitude also goes out to the staff and employees at Standard Chartered Bank (SCB) for having co-operated with me and guided me throughout the two months of my internship period. I thank My College, Skyline Business School, Gurgaon for having given me this opportunity to put to practice, the theoretical knowledge that I imparted from the program. I take this opportunity to thank my parents and friends who have been with me and offered emotional strength and moral support.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

TABLE OF CONTENTS

EXECUTIVE SUMMARY………………………………………….………..……6 CHAPTER 1: INTRODUCTION……………………….……..…………………………………7 1.1: What is Banking?…………………………………………….………………………..8 1.2: A Brief Insight- The Banking Sector in India ……………………………….9 1.3: Banks in India………………………...………………………………………..………9 1.3.1: Public Sector/Nationalized Banks……………….…………………….10 1.3.2: State Bank Group……………………………………………………….….10 1.3.3: Other Public Sector Bank…………………………………………………10 1.3.4: Old Private Banks……………………………………………………….....10 1.3.5: New Private Banks………………………………………………………....11 1.3.6: Foreign Banks…………………………………………………………….….11 1.4: Banking as an Opportunity…………………………………………………….…11 Figure.1: New Business Opportunity tapped by Banks………….…11 1.5: Role of Reserve Bank of India…………………………………………………..12

CHAPTER 2: STANDARD CHARTERED BANK ……………………….…………….…….13 2.1: History…………………………………………………………………………………..13 2.2: Principles & Values…………………………………………………………………..15 2.3: Standard Chartered Bank in India …………………………………………….15 2.4: Some Other Fact about SCB……………………………………………………..16 2.5: SCB Stand For…………………………………………………………………………16 2.5.1: Strategic intent ……………………………………………………………16 2.5.2: Brand promise …………………………………………………………....16 2.5.3: Values ………………………………………………………………………..16 2.5.4: Approach…………………………………………………………………….16 2.5.5: Commitment to stakeholders………………………………………...17

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

CHAPTER 3: PRODUCTS AND SERVICES ……………………………………..………….18 3.1: Personal Banking……………………………………………………………………18 3.2: Private Banking …………………………………………………………………….19 3.3: Wholesale Banking…………………………………………………………………19 3.4: SME Banking………………………………………………………………………….19 3.5: Islamic Banking………………………………………………………………………19 3.6: Online Banking………………………………………………………………………20 3.7: Mobile Banking………………………………………………………………………20 3.8: Insurance………………………………………………………………………………20 3.8.1: Life Insurance Policies…………………………………………………..21 3.8.2: General Insurance Policies…………………………………………….21 3.9: Unit Linked Insurance Plan……………………………………………………..22 3.10: Mutual Funds……………………………………………………………………….24 Figure.2: Indicates the growth of assets over the years………...27

CHAPTER 4: SAVING ACCOUNT………………………………………………………….…28 4.1: Features…………………………………………………………………………….….28 4.2: Return……………………………………………………………………………….….28 4.3: Advantages…………………………………………………………………………...29 4.4: General Requirement to open a Saving Account………………………..29 4.5: How to Open…………………………………………………………………………29 4.6: Reserve Bank of India Guidelines…………………………………………….30

CHAPTER 5: PROJECT: STUDY OF SAVING ACCOUNT OF SCB WITH ITS KEY COMPETITORS AND CUSTOMER SURVEY……………………………….31 5.1: Saving Account in Standard Chartered Bank……………………………..31 5.1.1: aXcess plus account………………………………………………………31 5.1.2: SuperValue Saving Account…………………………………………….32 5.1.3: Parivaar Account……………………………………………………………33

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

5.1.4: 2-In-1 Account……………………………………………………………….33 5.1.5: No Frills Savings Account…………………………………………………34 5.1.6: aaSaan Saving Account…………………………………………………..35 5.2: Service Charges……………………………………………………………………….35 5.3: SCB’s Competitors and Theirs Savings Account…………………………37 5.3.1: ABN-AMRO BANK…………………………………………………………...37 5.3.2: HDFC…………………………………………………………………………....42 5.3.3: ICICI…………………………………………………………………………....47 Figure.1: Comparison of Service and Charges with SCB……………………52 5.4: Saving Account Potential Survey………………………………...55 5.4.1: Objective……………………………………………………………………….55 5.4.2: Research Methodology…………………………………………………...55 5.4.3: Sources of Data Collection……………………………………………...55 5.4.4: Result and Analysis………………………………………………………...57 5.4.5: The Result Outcome of This Survey………………………………….76

CHAPTER 6: 6.1: LIMITATION OF PROJECT…………………………………...77 6.2: CONCLUSION……………………………………………………78 6.3: RECOMMENDATIONS………………………………………….80 6.4: BIBLIOGRAPHY………………………………………………...82 6.5: ANNEXURE……………………………………………………….83

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

EXECUTIVE SUMMARY This Project is divided in to two part first is study of saving account of Standard Chartered Bank with it’s key Competitors and Second is Customer Survey on it. For second part of this project is done through by the field survey and online survey. The aim of project is study of different types of saving account, analyse the market potential of saving account and comparison with the other private leading banks. It is also focused towards creating a backup database which could be used by the organization towards interest of the services of the saving account. Since the project aims at analyzing the market potential and wants to know that what’s 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 300. People in the age group 20 and above and income group ranging from 2.5 lakhs and above were targeted for the survey process. Secondary data from internet, newspapers, and magazines were also collected for better interpretation of the results. 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.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

CHAPTER 1: INTRODUCTION ____________________________________________________ Standard Chartered Bank is a British bank headquartered in London with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 73,000 people. Despite its British base, it has few customers in the United Kingdom and 90% of its profits come from Asia, Africa, and the Middle East. Because the bank's history is entwined with the development of the British Empire its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had little British influence. It aims to provide a safe regulatory bridge between these developing economies. It now focuses on consumer, corporate, and institutional banking, and on the provision of treasury services—areas in which the Group had particular strength and expertise. Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock Exchange 1.1: WHAT IS BANKING? Banking, the business of providing financial services to consumers and businesses. The basic services a bank provides are checking accounts, which can be used like money to make payments and purchase goods and services; savings accounts and time deposits that can be used to save money for future use; loans that consumers and businesses can use to purchase goods and services; and basic cash management services such as check cashing and foreign currency exchange.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

Four types of banks specialize in offering these basic banking services: commercial banks, savings and loan associations, savings banks, and credit unions.

A broader definition of a bank is any financial institution that receives, collects, transfers, pays, exchanges, lends, invests, or safeguards money for its customers. This broader definition includes many other financial institutions that are not usually thought of as banks but which nevertheless provide one or more of these broadly defined banking services. These institutions include finance companies, investment companies, investment banks, insurance companies, pension funds, security brokers and dealers, mortgage companies, and real estate investment trusts.

Banking services are extremely important in a free market economy. Banking services serve two primary purposes. First, by supplying customers with the basic mediums-of-exchange (cash, checking accounts, and credit cards), banks play a key role in the way goods and services are purchased. Without these familiar methods of payment, goods could only be exchanged by barter (trading one good for another), which is extremely time-consuming and inefficient. Second, by accepting money deposits from savers and then lending the money to borrowers, banks encourage the flow of money to productive use and investments. This in turn allows the economy to grow. Without this flow, savings would sit idle in someone’s safe or pocket, money would not be available to borrow, people would not be able to purchase cars or houses, and businesses would not be able to build the new factories the economy needs to produce more goods and grow. Enabling the flow of money from savers to investors is called financial intermediation, and it is extremely important to a free market economy.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1.2: A BRIEF INSIGHT- THE BANKING SECTOR IN INDIA Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a governmentowned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector banks (that is with the Government of India holding a stake), 31 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 1.3: BANKS IN INDIA The commercial banking structure in India consists of: Scheduled Commercial Banks and Unscheduled Banks. Scheduled commercial Banks constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. For the purpose of assessment of performance of banks, the Reserve Bank of India categorise them as public sector banks, old private sector banks, new private sector banks and foreign banks.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1.3.1: PUBLIC SECTOR/NATIONALIZED BANKS 1

Allahabad Bank

11

Indian Overseas Bank

2

Andhra Bank

12

Oriental Bank of Commerce

3

Bank of Baroda

13

Punjab and Sind Bank

4

Bank of India

14

Punjab National Bank

5

Bank of Maharashtra

15

Syndicate Bank

6

Canara Bank

16

UCO Bank

7

Central Bank of India

17

Union Bank of India

8

Corporation Bank

18

United Bank of India

9

Dena Bank

19

Vijaya Bank

10

Indian Bank

1.3.2: STATE BANK GROUP 1

State Bank of India

5

State Bank of Mysore

2

State Bank of Bikaner and Jaipur

6

State Bank of Patiala

3

State Bank of Hyderabad

7

State Bank of Saurashtra

4

State Bank of Indore

8

State Bank of Travancore

1.3.3: OTHER PUBLIC SECTOR BANK IDBI and IDBI Bank Ltd. have been merged to form Industrial Development Bank of India (IDBI) Ltd. IDBI is notified as a scheduled bank by the Reserve Bank of India (RBI) under the Reserve Bank of India Act, 1934. RBI has categorized IDBI under a new sub group "other public sector bank". Industrial Development Bank of India (IDBI) Ltd 1.3.4: OLD PRIVATE BANKS 1

Bank of Rajasthan Ltd.

6

ING Vysya Bank Ltd.

2

Catholic Syrian Bank Ltd.

7

Jammu and Kashmir Bank Ltd.

3

City Union Bank Ltd.

8

Karnataka Bank Ltd.

4

Dhanalakshmi Bank Ltd.

9

Karur Vysya Bank Ltd.

5

Federal Bank Ltd.

10 Lakshmi Vilas Bank Ltd.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1.3.5: NEW PRIVATE BANKS 1

Development Credit Bank Ltd.

5

Kotak Mahindra Bank Ltd.

2

HDFC Bank Ltd.

6

Axis Bank (earlier UTI Bank)

3

ICICI Bank Ltd.

7

Yes Bank Ltd.

4

IndusInd Bank Ltd.

1.3.6: FOREIGN BANKS 1

ABN-AMRO Bank N.A

7

DBS Bank Ltd.

2

Abu Dhabi Commercial Bank Ltd.

8

Deutsche Bank AG

3

American Express Bank Ltd.

9

HSBC Ltd.

4

Barclays Bank PLC

10

Standard Chartered Bank

5

BNP Paribas

11

State Bank of Mauritius Ltd.

6

Citibank N.A.

1.4: BANKING AS AN OPPORTUNITY Today in this scenario banking sector have wide competition. Private Banks gives more services in comparison the public sector bank. And with the interest income coming under pressure, banks are urgently looking for expanding fee-based income activities. Banks are increasingly getting attracted towards activities such as marketing mutual funds and insurance policies, offering credit cards to suit different categories of customers and services such as wealth management and equity trading.

Figure.1: New Business Opportunities tapped by banks Derivatives Trading 36.8% Wealth Management 21.05% Forex Management 68.4%

Selling of Mutual Funds 73.6%

Bancassurance 73.6%

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1.5: ROLE OF RESERVE BANK OF INDIA In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union. Further, as per Section 21 of the said Act, RBI has the right to transact Government business of the Union in India. State Government transactions are carried out by RBI in terms of the agreement entered into with the State Governments in terms of section 21 A of the Act. As of now, such agreements exist between RBI and all the State Governments except with the Govts of Jammu and Kashmir and Sikkim.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

CHAPTER 2: STANDARD CHARTERED BANK ____________________________________________________ 2.1 HISTORY The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863 and the Chartered Bank of India, Australia and China, founded in 1853. Both companies were keen to capitalise on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and to Africa. The Chartered Bank 

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.



Traditional business was in cotton from Mumbai (Bombay), indigo and tea from Calcutta, rice in Burma, sugar from Java, tobacco from Sumatra, hemp in Manila and silk from Yokohama.



Played a major role in the development of trade with the East which followed the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871.



In 1957 Chartered Bank bought the Eastern Bank together with the Ionian Bank's Cyprus Branches. This established a presence in the Gulf.

The Standard Bank 

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business in Port Elizabeth, South Africa, in January 1863.

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

Was prominent in financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885.



Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices.



In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gambia, Ghana, Nigeria and Sierra Leone.

In 1969, the decision was made by Chartered and by Standard to undergo a friendly merger. All was going well until 1986, when 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. From the early 1990s, 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. Secondly, it would focus on consumer, corporate and institutional banking and on the provision of treasury services - areas in which the Group had 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. Since 2005, we have achieve several milestones with a number of strategic alliances and acquisitions that will extend our customer or geographic reach and broaden our product range.

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2.2 PRINCIPLES & VALUES 

At Standard Chartered our success is built on teamwork, partnership and the diversity of our people.



At the heart of our values lie diversity and inclusion. They are a fundamental part of our culture, and constitute a long-term priority in our aim to become the world's best international bank.



Today we employ 73,000 people, representing 115 nationalities, and you'll find 61 nationalities among our 500 most senior leaders.



We believe this diversity helps to fuel creativity and innovation, supporting the development of exciting new products and services for our customers worldwide.

2.3: STANDARD CHARTERED BANK IN INDIA Standard Chartered is a London based international bank with significant operations in Asia, Africa, the Middle East and Latin America. The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863, and the Chartered Bank of India, Australia and China, founded in 1853. Chartered Bank opened its first overseas branch in India, at Kolkata, on 12 April 1858. During that time Kolkata was the most important commercial city and was the hub of jute and indigo trades. With the opening of the Suez Canal in 1869 and the growth of cotton trade, Bombay replaced Kolkata as the main commercial center. Hence Standard Chartered shifted its main operations to Bombay. Today the Bank's branches and sub-branches in India are directed and administered from Bombay with Kolkata remaining an important trading and banking centre. To cater to diverse financial needs, Standard Chartered offers a wide range of state-of-the-art banking products and services through its network of 90 branches in 31 cities across the country.

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2.4: SOME OTHER FACT ABOUT SCB 

Over 50 nationalities are represented among our top 500 senior executives.



SCB is the only international bank with over 90% profits from Asia, Africa, and the Middle-East.



SCB is the only international bank with a long unbroken banking history in India and China.



SCB is the largest international bank in India in terms of branch network and profits



SCB is the only bank in the Falkland Islands.



SCB is one of three note issuing banks in Hong Kong.

2.5: SCB STAND FOR 2.5.1: Strategic intent  

The world's best international bank Leading the way in Asia, Africa and the Middle East

2.5.2 Brand promise 

Leading by Example to be The Right Partner

2.5.3 Values 

Responsive



Trustworthy



International



Creative



Courageous

2.5.4 Approach 

Participation Focusing on attractive, growing markets where we can leverage our relationships and expertise Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey



Competitive positioning Combining global capability, deep local knowledge and creativity to outperform our competitors



Management Discipline Continuously improving the way we work, balancing the pursuit of growth with firm control of costs and risks

2.5.5 Commitment to stakeholders 

Customers Passionate about our customers' success, delighting them with the quality of our service



Our People Helping our people to grow, enabling individuals to make a difference and teams to win



Communities Trusted and caring, dedicated to making a difference



Investors A distinctive investment delivering outstanding performance and superior returns.

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CHAPTER 3: PRODUCTS AND SERVICES ____________________________________________________ Products and services are available at the discretion of Standard Chartered or the relevant Standard Chartered Group Company or associate, subject to the individual terms and conditions on which they are offered, and such products and services may be withdrawn or amended at any time without notice. The full range of products and services may not be available in all locations. Fees, commissions and other charges may apply to certain services. The office providing such services can provide details. Any application made by you for any products and services offered by SCB, whether transmitted through or printed from this web site or otherwise, shall be subject to the final written approval of SCB, which may be granted or refused at SCB's absolute discretion. SCB shall not be obliged to furnish any notice or give any reasons for any rejection of your application. SCB's acceptance of you as SCB's customer and making available to you any products and services, shall also be subject to your meeting SCB's eligibility requirements, submission of all necessary documents, compliance with any other terms and conditions of SCB, and finalisation and execution of all documents required by SCB. 3.1: PERSONAL BANKING Through our global network of over 1,700 branches and outlets, we offer personal financial solutions to meet the needs of more than 14 million customers across Asia, Africa and the Middle East. 

Personal Banking Plans



Accounts



Debit Cards



Prepaid Cards



Credit Cards



Loans



Investment Services



Insurance



Online Services Skyline Business School, Gurgaon

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

Special Offers



NRI Accounts

3.2 PRIVATE BANKING Our Private Bank advisors and investment specialists provide customised solutions to meet the unique needs and aspirations of high net worth clients. 3.3 WHOLESALE BANKING Headquartered in Singapore and London, with on-the-ground expertise that spans our global network, our Wholesale Banking division provides corporate and institutional clients with innovative solutions in trade finance, cash

management,

securities

services, foreign

exchange

and

risk

management, capital raising, and corporate finance. 3.4 SME BANKING SME Banking division offers a wide range of products and services to help small and medium-sized enterprises manage the demands of a growing business. 

Term Loan



Express Trade



Trade Services & Working Capital



Business Installment Loan



International Trade Account



Loan/Overdraft Against Property

3.5 ISLAMIC BANKING Standard Chartered Saadiq's dedicated Islamic Banking team provides comprehensive international banking services and a wide range of Shariah compliant financial products that are based on Islamic values.

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3.6: ONLINE BANKING Standard Chartered Online is an innovative Online Banking service that you can tailor to suit your precise banking needs. It gives you convenient, roundthe-clock banking services ranging from day-to-day account transfer transactions to real-time valuable financial information. Now you can manage your finances anytime, anywhere. 3.7 MOBILE BANKING Standard Chartered Bank offer mobile banking to access your bank account anytime and from anywhere in the world. Features of mobile banking:

Balance Information –View balances of your linked savings and current accounts



Mini Statement – Get details on the last 3 transactions carried out on your bank account



Cheque Book Request – You can now order for a cheque book from your Mobile Phone!



Bank Statement Request – Bank Statement requests can be placed through your Mobile phone

3.8: 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.

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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: 1. Life Insurance Policies 2. General Insurance Policies

3.8.1: LIFE INSURANCE POLICIES Life is very fragile and death is a certainty. We cannot control the uncertainties of life. But, we can cover the risks surrounding us. Life insurance, simply put, is the cover for the risks that we run during our lives. It protects us from the contingencies that could affect us. Life insurance is not for the person who passes away, it for those who survive. It is the responsibility of every bread earner to guard against the events that could affect the family in the unfortunate circumstance of his / her demise. Thus, having a life insurance policy is very vital. Before going for a life insurance policy it is imperative that you know about various types of life insurance policies. Major among them are: 

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

3.8.2: GENERAL INSURANCE POLICIES General Insurance provides much-needed protection against unforeseen events such as accidents, illness, fire, burglary et al. Unlike Life Insurance, General Insurance is not meant to offer returns but is a protection against

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contingencies. Almost everything that has a financial value in life and has a probability of getting lost, stolen or damaged can be covered through General Insurance policy. Property, vehicle, cash, household goods, health, dishonesty and also one's liability towards others can be covered under general insurance policy. Under certain Acts of Parliament, some types of insurance like Motor Insurance and Public Liability Insurance have been made compulsory. Major insurance policies that are covered under General Insurance are: 

Home Insurance



Health Insurance



Motor Insurance



Travel Insurance

3.9: UNIT LINKED INSURANCE PLAN 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. ULIP provides multiple benefits to the consumer. The benefits include: 

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 Skyline Business School, Gurgaon

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

Tax planning

Features of Unit Linked Insurance Plan 

Premiums paid can be single, regular or variable. The payment period too can be regular or variable. The risk cover can be increased or decreased.



The costs in ULIP are higher because there is a life insurance component in it as well, in addition to the investment component.



Investments can be made in gilt funds, balanced funds, money market funds, growth funds or bonds.



The policyholder can switch between schemes, for instance, balanced to debt or gilt to equity, etc.



As in all insurance policies, the risk charge (mortality rate) varies with age.



The maturity benefit is not typically a fixed amount and the maturity period can be advanced or extended.



The maturity benefit is the net asset value of the units.



Insurance companies have the discretion to decide on their investment portfolios.



They are simple, clear, and easy to understand.



Being transparent the policyholder gets the entire episode on the performance of his fund.



Provides capital appreciation.



Investor gets an option to choose among debt, balanced and equity funds.



Lead to an efficient utilization of capital.



ULIP products are exempted from tax and they provide life insurance.

ULIP in Standard Chartered Bank Standard Chartered offers a wide range of Life Insurance Products from Bajaj Allianz Life Insurance Company, one of India's leading Insurance companies.

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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. 3.10: MUTUAL FUNDS Mutual Fund is an instrument of investing money. Nowadays, bank rates have fallen down and are generally below the inflation rate. Therefore, keeping large amounts of money in bank is not a wise option, as in real terms the value of money decreases over a period of time. One of the options is to invest the money in stock market. But a common investor is not informed and competent enough to understand the intricacies of stock market. This is where mutual funds come to the rescue. A mutual fund is a group of investors operating through a fund manager to purchase a diverse portfolio of stocks or bonds. Mutual funds are highly cost efficient and very easy to invest in. By pooling money together in a mutual fund, investors can purchase stocks or bonds with much lower trading costs than if they tried to do it on their own. Also, one doesn't have to figure out which stocks or bonds to buy. But the biggest advantage of mutual funds is diversification. Diversification means spreading out money across many different types of investments. When one investment is down another might be up. Diversification of investment holdings reduces the risk tremendously. The origin of the Indian mutual funds industry dates back to 1963 when the Unit Trust of India (UTI) came into existence at the initiative of the Government of India and the Reserve Bank of India. Since then the mutual funds sector remained the sole fiefdom of UTI till 1987 when a slew of nonUTI, public sector mutual funds were set up by nationalized banks and life insurancecompanies.

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 Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

on a booming economy and the arrival of a horde of international fund houses. First Phase – 1964-87 Growth of Unit Trust of India Unit Trust of India (UTI) was established on 1963 by an Act of Parliament. It was set up by the Reserve Bank of India and functioned under the Regulatory and administrative control of the Reserve Bank of India. In 1978 UTI was de-linked from the RBI and the Industrial Development Bank of India (IDBI) took over the regulatory and administrative control in place of RBI. The first scheme launched by UTI was Unit Scheme 1964. At the end of 1988 UTI had Rs.6, 700 crores of assets under management. Second Phase – 1987-1993 (Entry of Public Sector Funds) 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. Third Phase – 1993-2003 (Entry of Private Sector Funds) 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

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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. Fourth Phase – since February 2003 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.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

FIGURE.2 The graph indicates the growth of assets over the years.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

CHAPTER 4: SAVING ACCOUNT ____________________________________________________ A Saving Bank account (SB account) is meant to promote the habit of saving among the people. It also facilitates safekeeping of money. In this scheme fund is allowed to be withdrawn whenever required, without any condition. Hence a savings account is a safe, convenient and affordable way to save your money. Bank deposits are fairly safe because banks are subject to control of the Reserve Bank of India with regard to several policy and operational parameters. Bank also pays you a minimal interest for keeping your money with them. A savings account typically refers to an account in which one places money to earn a small amount of interest. The savings account funds are usually easily accessible, though some banks do charge for withdrawing money early. In most cases, people can withdraw money from a savings account at any time, at least at any time the bank is open, or one has access to the bank’s ATM. 4.1: FEATURES 

Interest on the saving account is determined in accordance with directives of the Reserve Bank of India



The current interest rate is 3.5%



Account can be individually or jointly.



Minimum Quarterly balance of a specific amount is to be maintained failing to which a specific fees per quarter has to be paid.



Account can be operated at any branch across the country.



Enables you to save money



24 hour access to your funds via the ATMS

4.2: RETURN the interest rate of savings bank account in india is 3.5% p.a. in savings bank account, bank follows the simple interest method. the rate of interest

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may change from time to time according to the rules of reserve bank of india. one can withdraw his/her money by submitting a cheque in the bank and details of the account, i.e the money deposited, withdrawn along with the dates and the balance, is recorded in a passbook 4.3: ADVANTAGES It's much safer to keep your money at a bank than to keep a large amount of cash in your home. Bank deposits are fairly safe because banks are subject to control of the Reserve Bank of India with regard to several policy and operational parameters. The federal Government insures your money. Saving Bank account does not have any fixed period for deposit. The depositor can take money from his account by writing a cheque to somebody else or submitting a cheque directly. Now most of the banks offer various facilities such as ATM card, credit card etc. Through debit/ATM card one can take money from any of the ATM centres of the particular bank which will be open 24 hours a day. Through credit card one can avail shopping facilities from any shop which accept the credit card. And many of the banks also give internet banking facility through with one do the transactions like withdrawals, deposits, statement of account etc. 4.4: GENERAL REQUIREMENT TO OPEN A SAVING ACCOUNT  Indian Residents  NRI’s  Clubs, Associations, Trusts and Registered Societies

 HUF (Hindu Undivided Family) 4.5: HOW TO OPEN Savings Bank Account can be opened in the name of an individual or in joint names of the depositors by filling up the appropriate forms. A minor who have completed ten years of age can also open and operate the account. At the time of opening an account one must submit the documents like

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photocopy of passport or Electoral card, Postal identification cards as address proof and two passport size photos. Most banks also require an introduction for opening an SB account. The introduction may be obtained either from an existing account holder or from a respectable citizen, well known to the bank, who should normally call on the bank and sign in the column specially provided for the purpose of introduction in the account opening form. 4.6: RESERVE BANK OF INDIA GUIDELINES 

Photographs of all applicant(s) / Power of Attorney holders



PAN / Form No.60/61 (Where PAN is not available) is required to be furnished.



Savings Bank A/c can’t be opened for business purposes.



SB a/c should be used to route transactions of only non-business / non-commercial nature.



If there is no transaction by the account holder in the account continuously for 24 months, the account automatically gets classified as a ‘dormant / inoperative account’ whereupon further debit transactions are not permitted in the ordinary course.



If the balance in the account becomes zero and remains so continuously for three months or more, the Bank reserves to itself the right to close the account without any obligation to intimate the customer.



The bank has the authority to debit the accounts to recover any amount credited erroneously.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

CHAPTER 5: PROJECT: STUDY OF SAVING ACCOUNT OF SCB WITH ITS KEY COMPETITORS AND CUSTOMER SURVEY ____________________________________________________ 5.1SAVING ACCOUNT IN STANDARD CHARTERED BANK Standard Chartered Bank provide different type of saving account according the use of service and customers. 5.1.1: aXcess plus account 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 at least Rs 10,000

Interest Rate

3.5%

Card offered Replacement of Pin

ATM cum Debit Card, ATM Cards Rs 50

Lost card re-issuance

Rs 100

Some features:

FREE Unlimited Visa ATM transactions* (Cash withdrawal and balance enquiry)



FREE Standard Chartered Bank branch access across the county



FREE Doorstep Banking



FREE Demand Drafts/Pay Orders (drawn at SCB locations)



FREE Payable at Par Cheque book Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey



International Debit Card



Extended Banking Hours



Phone banking, Net banking, Multi-city banking, 365 days branches



Unique free insurance benefits- lost card, purchase protection.

* Available on maintenance of average quarterly balance of Rs 15,000/5.1.2: SUPERVALUE SAVING ACCOUNT The unique SuperValue savings account from Standard Chartered is proof that the best things in life come free. With an average quarterly balance of just Rs. 50,000, you get a host of services from Standard Chartered absolutely free. Some features:

Free globally valid Debit-cum-ATM card.



Free Access to 6500 ATMs in India.



Free Doorstep Banking.



Free Payable at Par cheque book/ account statements / DDs



Free Bill Pay.



Free Inter Bank Funds Transfer.



Free Foreign Inward Remittance Certificates.



Other benefits of the SuperValue account: o

Full suite of complimentary banking services including credit cards, loan products and capital market services.

o

Globally valid debit card: Make purchases at over 12 million merchant outlets and withdraw cash at over 810,000 ATMs worldwide using funds from your account

o

Enjoy extended Banking hours at all our branches, and Speed Cheque Clearing and Metro Clearing facilities.

o

Multicity Banking: Access your account even when you are out of town

o

24-hour branches, 365 day branches available at select locations

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o

Phone banking

o

Internet banking

o

Free Investment Advisory Services to assist you in investing in a range of mutual funds

5.1.3: PARIVAAR ACCOUNT This family account allows you to maintain your individual identity while allowing you to tap your family's financial strength. Parivaar is a unique Wealth Management Solution from Standard Chartered Bank that offers your family flexibility, convenience and essential tools for wealth accumulation and preservation. Some features:

Your family can maintain individual savings accounts with the benefit of clubbing balances in grouped accounts.



Anytime, anywhere access to accounts through ATMs, Phone Banking and Online Banking.



Globally valid ATM-cum-debit card can be used at 3,26,000 merchant outlets in India and 14 million outlets worldwide.

5.1.4: 2-IN-1 ACCOUNT 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:

Earn fixed deposit interest rates

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey



Enjoy the flexibility of a Savings or a Current Account



Get a free personalized cheque book and Debit/ATM card



Withdraw money whenever you need it



Deposit more money in your account to earn a higher rate of



Interest by placing subsequent deposits

5.1.5: NO FRILLS SAVINGS ACCOUNT Frills Savings Account, a New account to meet your basic banking requirements. You can now open an account with Standard Chartered Bank, with an average quarterly balance of as low as Rs. 250. What’s more you can avail of Anywhere Banking, by which you can access your account from any branch of Standard Chartered Bank in India. Unique Features:> Quarterly Average Balance, as low as Rs. 250. > ATM card & Debit Card available. > 4 free transactions per month at any Standard Chartered Bank channel (Internet banking, Phone Banking, ATM & Branch). > Anywhere banking Access your account from any branch of Standard Chartered Bank. > Access to Phone Banking and Internet Banking > Free Cheque deposit at any SCB Branch or ATM. Eligibility Criteria:This account is available to individual Resident Indian customers. Account may be opened after being properly introduced in a manner approved by the Bank.

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5.1.6: aaSaan SAVING ACCOUNT Unique Features:No Minimum Balance requirement Free unlimited access to any SCB branch across the country for Customer-in-person Unlimited Free access to Standard Chartered Bank ATM's Up to 4 free cash withdrawal transactions per month at other domestic VISA ATMs* Nominal quarterly fee of Rs. 100 (reversed if the Average Balance in the quarter is Rs 10,000 or more) Other Facilities International Debit Card Phone banking Net Banking Extended banking hours* Locker facility* Doorstep banking To open an aaSaan account, you have to initially fund the account with Rs. 10,000 (Rs. Ten Thousand) 5.2: SERVICE CHARGES Parameter/ Saving Account

aXcess Plus

Super Value

2-in-1

AQB

Rs.10,000

Rs.50,000

Rs.100,000

If AQB< 5,000

1,500

1,250

If AQB≥ 5,000 & <7,500

1,250

1,250

If AQB≥ 7,500 & <10,000

750

1,250

A/c Maintenance Charges

If AQB≤ 10,000 & <25,000

1,000

If AQB≥ 25,000 & <50,000

750

750

If AQB < 100,000

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

Account Statements

Free/Quarterly Free/Qua

Free/Qua.

Duplicate Statement

100/-

100/-

100/-

Account closure

500/-

500/-

500/-

Issued by customer

300/-

300/-

300/-

Deposited by customer

100/-

Free

100/-

Dormant Account

1000/-

per 1000/-

annum

annum

Debit card annual fee

200/-

Free

200/-

Debit card replacement fee

200/-

Free

200/-

Gold debit card 1 year fee

799/-

799/-

799/-

Gold debit card annual fee

799/-

799/-

799/-

0.25%

Free

0.25%

250/-)

0.30%

0.25%

0.30%

Cancellation

250/-

250/-

250/-

Pay order

75/-

Free

75/-

ATM Uses other than SCB First

4 Free

Free

(Within 6 months) Cheque Return

per

Cards

st

Demand Draft Drawn

at

own

bank(min.

Free50/- & max. 1,500/-) Drawn at other bank (min. Fee

Branch

transaction free

VISA ATMs outside India

140/-

140/-

140/-

Replacement of PIN

50/-

50/-

50/-

Lost card re-issuance

100/-

100/-

100/-

Setting up charges

100/-

100/-

100/-

Execution fee

25/-

25/-

25/-

Banker’s report

50/-

Free

50/-

Signature verification

25/-

Free

25/-

Remittance from abroad

250/-

250/-

250/-

Standing instruction

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

5.3:

SCB’S

COMPETITORS

AND

THEIR’S

SAVINGS

ACCOUNT Many Private Bank are providing their services in the market so these all are competitors of Standard Chartered Bank but some private Bank are the Powerful Competitors of Standard Chartered Bank like – ABN – AMRO BANK, HDFC BANK, ICICI BANK so I will take these three bank as a competitors of Standard Chartered Bank. 5.3.1: ABN-AMRO BANK 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. CONSUMER BASE BANKING PRODUCTS 

Deposits - Savings, Current and Easy Draw Fixed Deposit Accounts



Loans - Home, Personal, Car Loans and Business loans

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

Credit Cards - accepted globally, credit card payments made easier through Drop Box (1700 across the city) system for cheque payments.



Debit Cards - Accepted at over 200,000 merchant locations for direct payments In India and ATM Withdrawal from around 12,000 ATM's Under ABN AMRO and Associates.



NRI Services



Investment Services - Mutual Funds and Bonds

SAVING ACCOUNT IN ABN-AMRO BANK 

Flex Plus



Flex Advantage



Flex Privilege



Incentive

Features for all (Except Incentive saving a/c) ABN-AMRO Saving Account (In General) 

Experience the freedom of accessing your account from anywhere, anytime.



International Debit Card.



365 Days Banking & 24-Hour Bank by Phone.



Bancafé: Enjoy a cup of fresh coffee while banking between 7.30 pm and 11 pm at our Bancafé.



Mobile/SMS Banking - Mpower



Utility Payments.



Online Railway Reservations.



E- Statements



Customised Alerts

1. FLEX PLUS SAVING ACCOUNT The Flex Plus Savings Account provides a gamut of enhanced services, while letting you enjoy unique benefits. With extra access and convenience of banking, the Flex Plus Savings Account actually rewards you for using it, thereby, giving more value for your money and time. Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

Some Additional Features:

Free Payable At Par Cheque Books.



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).

Details of Flex Plus Saving Account:-

Savings Account Plan

Flex Plus

Monthly Balance Requirement

Rs. 10,000 pm

Add-on Account

1 Savings Account at aggregate balance

requirement

of

Rs.15,000 pm Debit Card

Rs.180 pa

Indian Airlines Card (optional)

Rs.399 registration fee + Rs.250 pa

Gold Debit Card (optional)

Rs.400 pa

UTI and MasterCard ATMs

Free Domestic cash withdrawal*

POS/ATM Daily limit

Rs.50,000

At Par Cheque Books

Free

Cash

Delivery

(Rs.1,000

to 1 Free per day

Rs.100,000) Account Statement

Monthly on e-mail

Railway Ticket Booking Service

Free

Bill Payments

Free

Online Banking

Free

*Subject to maintenance of average balance requirement.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

2. FLEX ADVANTAGE SAVING ACOUNT The Flex Advantage Savings Account is more than just your ordinary savings account - it's your window to endless financial opportunities. You get expert assistance by Personal Bankers who help you make choices, 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. Some Additional Features:

No Minimum Balance: The Flex Advantage Savings Account comes with a unique feature. It lets you operate your account without maintaining a minimum balance. Fulfil a simple criteria and avail of this benefit.



Personalised Payable at Par Cheque Books.



Royalties on tickets and much more. These amazing benefits are available at a registration fee of Rs. 399 and renewal charges of Rs. 250 p.a.



Purchase on debit card (ATM daily limit) Rs 50,000

Details of Flex Advantage Saving Account:Monthly Balance Requirement

No minimum balance**

Debit Card

Rs.180 p.a.

Gold Debit Card (optional)

Rs.400 p.a.

Indian Airlines Card (optional)

Rs.399 registration fee + Rs.250 p.a.

UTI Bank/MasterCard ATMs Purchase

on

Debit

Free Domestic Withdrawals** Card/ATM Rs.50,000

Dailylimit At par Cheque Books Cash

Delivery

Free (Rs.1,000

to 1 Free per day

Rs.100,000) Account Statement

Monthly on e-mail

Railway Ticket Booking Service

Free

Bill Payments

Free

Online Banking

Free

**Subject to minimum transaction fulfillment. Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

3. FLEX PRIVILEGE SAVING ACCOUNT Flex Privilege Savings Account is a truly unique savings account. With a host of value added features and personalised services, it is designed to cater to successful individuals like you, who expect nothing but the best. Extend the privileges on this exclusive account to your family with two complimentary savings accounts.

Some Additional Features:-



Free Demand Drafts Personalised Payable At Par Cheque Books



Drop-Box Service



Portfolio Statements



Details of Flex Privilege Saving Account:Savings Account Plan

Flex Privilege

Monthly balance requirement

Rs.50,000 pm

Add-on account

2 savings account within above balance requirement

Welcome Reward Points

500 points on account activation

Debit Card

Lifetime free

Indian Airlines Card (optional)

Rs.399 registration fee + Rs.250 pa

Gold Debit Card (optional)

Rs.400 pa

UTI and MasterCard ATMs

Free cash withdrawal*

POS/ATM daily limit

Rs.1 lac

Drafts

All free (conditions apply)

Cash Delivery (Rs. 1,000 to Rs. Unlimited 100,000) At par cheque books

Free

Account statement

Monthly

Railway ticket booking service

Free

Bill payments

Free

Online banking

Free

*Subject to maintenance of average balance requirement. Skyline Business School, Gurgaon

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4. FLEX INCENTIVE SAVING ACCOUNT 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:

Zero Balance Account: You do not have to maintain a minimum balance in your Savings Account.



International Debit Card



Safety Shield - a temporary overdraft facility



365 Days Banking-up to 7 pm.



Personal and Car Loans



Insurance Products



National Access: Open an account in any branch and access it from any other branch in India.



Portfolio Statements



Combined Interest Certificates.



Free Credit Card: The Freedom Credit Card can be yours FREE for the first year with an Add-on card, also free for the first year. You can also apply for India's first chip-enabled Credit Card - the Smart Gold Card - and get one Add-on card free for life!

5.3.2: HDFC (Housing Development Finance Corporation Limited Bank)

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.

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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 200405.

THE PERSONAL BANKING SERVICES INCLUDE 

Accounts and Deposits



Loans



Credit, Debit and Demat Cards



Investments and Insurance



Forex and Trade Services



Private Banking

SAVING ACCOUNTS IN HDFC BANK In HDFC Bank total 17 different types of account have. But mainly 4 types of saving account we will discuss here. Because other are salary a/c, kids a/c etc.



Regular Saving Account



Saving Plus Account



Saving Max Account



No frills Account Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1. REGULAR SAVING ACCOUNT Features:

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 MobileBankingcheck 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.

2. SAVING PLUS ACCOUNT Features:

Minimum Balance required 5,000



Wide network of branches and over thousand ATMs to meet all your banking needs no matter where you are located.



2 Free transactions on SBI/Andhra Bank ATMs per month.



3 Free transactions on any other Bank's ATM per month.



Free International Debit Card for all account holders for life time of the account. Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey



Free Payable at Par (PAP) chequebook without any usage charges upto a limit of 50,000 per month.



Free Demand Drafts on HDFC Bank locations, upto a limit of 25,000/- per day.



Free BillPay & InstaAlerts for all account holders for lifetime of the account.



Free Electronic Funds Transfer facility, NetBanking, PhoneBanking & MobileBanking.



Special relationship discount on purchase of Gold Bars.



25%-off on the Locker rental for the 1st year (only).



Intercity Banking / Multi-city Banking.



Free Passbook facility available at home branch for account holders (individuals).



Free Email Statement facility.

3. SAVING MAX ACCOUNT Features:

Free unlimited transactions: Cash withdrawal and balance enquiry, at all HDFC Bank ATMs & on any other Bank's ATM using your HDFC Bank Debit Card.



Free Gold Debit Card for primary account holder for lifetime of the account. Gold Debit Card for other account holders at Rs 250/- p.a.



Free Woman's Advantage/International Debit Card for all account holders for lifetime of the account.



Free Payable-at-Par (PAP) chequebook, without any usage charges upto a limit of 1 lac per month.



Free Demand Drafts on HDFC Bank locations, upto a limit of 50,000/- per day at home branch.



Self/Third Party Cash Deposit/Withdrawal at non-home branches, upto Rs 50,000/- per day free. Above Rs 50,000 a charge of Rs 2.90 per thousand on the full amount would be applicable.



Optional sweep out facility to transfer extra savings to a Fixed Deposit, at the threshold of Rs.50,000/-. In the event of the balance in SavingsMax Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

account exceeding Rs 50,000/-, the amount in excess of Rs 50,000/- will be swept out in to a Fixed Deposit with a minimum value of Rs 25000/for a 1year 1day period. 

Free BillPay & InstaAlerts for all account holders for lifetime of the account.



Free Monthly Statement of Account.



50% off on the Locker rental for the 1st year only.



Folio maintenance charges on Demat account free for first year.



Free

National

Electronic

Funds

Transfer

facility,

NetBanking,

PhoneBanking & MobileBanking. 

Free Passbook facility available at home branch for account holders.



Free Email Statement facility.

4. No frill Account Features:

Access a wide network of branches and over a thousand ATMs across the country to meet all your banking needs.



Bank

conveniently

with

facilities

like

Free

NetBanking

and

MobileBanking. 

Use the Free Electronic Funds Transfer (EFT) facility to transfer funds from your HDFC Bank account to an account in another Bank at the locations as specified by RBI.



Enjoy Free IVR based Phone Banking. (Agent assisted calls will be charged)



Get Free Quarterly Account Statements.



Access your account through a Free ATM Card.



Enjoy free Cash Deposits at Branch/ATM.



9 Free Cash withdrawals per Quarter at Branch and HDFC Bank ATMs.



International Debit Card available only on request at the branch @ Rs. 100/- p.a. for each applicant.

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

First Chequebook consisting of 25 leaves free and subsequent cheque books to be charged at the rate of Rs 5/- per cheque leaf.



Take advantage of Bill Pay, an instant solution to all your frequent utility bill payments. Instruct for payment over the phone or through the Internet.



Enjoy Installers via e-mails or SMS at nominal charges.



Avail facilities like Safe Deposit Locker, Sweep-In and Super Saver on your account.



Free Email Statement facility.

5.3.3: ICICI (The Industrial Credit and Investment Corporation of India Limited Bank)

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 Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like Citibank. 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 MaduraLimited. 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

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

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. THE PERSONAL BANKING SERVICES INCLUDE: 

Deposits: deposits into savings account, fixed deposits, security deposits and recurring deposits.



Loans: home loans, car loans, personal loans, loans against property, gold and securities besides much other special financial assistance for rural and industrial use.



Investments: bonds, mutual funds, Senior citizens savings and Pure Gold.



Insurance: home, vehicle and health insurance.



Foreign Exchange Services



Demat And Credit Services



Wealth Management



Private Baking



Online Banking Services

SAVING ACCOUNT IN ICICI BANK ICICI bank offers 9 different types of Saving Account. We discuss here main 4 types of saving accounts. 

Saving account



Special Saving Account



People’s Saving Account



No Frill Account

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1. SAVING ACCOUNT Features 

The ICICI Bank International debit card is a debit-cum-ATM card providing you with the convenience of acceptance at merchant establishments and cash withdrawals at ATMs.



The next time you want to withdraw cash from your ICICI Bank Savings account, just walk into any bank's ATM and use your ICICI Bank ATM-cum-Debit card for free. The above benefit is available to individual domestic Savings Account holders on maintenance of a quarterly average balance of more than Rs.10, 000 in the savings account in a quarter. The above benefit can be availed in the same quarter.



Money Multiplier Facility



Internet Banking is offered free of cost.



Anywhere Banking - This facility entitles the account holder to withdraw or deposit cash upto a limit of Rs.50,000 across all ICICI Bank branches.



You can give us various types of standing instructions like transferring to fixed deposit accounts at regular intervals.



An average quarterly balance of Rs.10,000 only in metro and urban locations and Rs.5,000 only in semi-urban and rural locations.



Nomination facility is available.



Interest is payable half-yearly.

Minimum Balance* Type of Account

Balance

Savings Account

Rs 10,000 in metro and urban locations Rs.5,000 in Semi urban areas

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

Non-maintenance of the minimum average quarterly balance attracts a fee of Rs 750 per quarter. 2. PEOPLE’S SAVING ACCOUNT 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.

3. SUPER SAVING ACCOUNT Features 

Operating account with free multi city chequebook facility.



Money Multiplier Facility



We trust totally your commitment to the account and the relationship and do not prescribe any minimum balance requirement. In other words, there is no penalty for non-maintenance of minimum balances in the accounts.



Internet Banking



Phone Banking



Free Anywhere banking



Free collection of outstation cheques



Free monthly account statements



Inward remittance through Money2India for FCRA approved trusts

4. NO FRILL ACCOUNT 

The quarterly average balance requirement for this account is nil



Free ICICI Bank VISA debit card



One chequebook of 25 leaves per annum free. Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey



Internet Banking is not available.



Mobile Banking is not available.



Access to all ICICI Bank ATMs free



All anywhere banking transaction chargeable at normal charges as published from time to time



Interest payable half yearly.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

FIGURES.1 COMPARISON OF VARIOUS BANK’S SERVICE AND CHARGES WITH STANDARD CHARTERED BANK

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S.No

Features

Standard Chartered

1

Avg.Quaterly Bal.

10,000

10000

(ADB)10000

5000

2

Rate of Interest

3.50%

3.50%

3.50%

3.50%

3

Internet Banking

Free

Free

25(Per month)

Free

4

Doorstep Banking

Free

Free

Free

Free

5

Phone Banking

Free

50

6

Standing Instructions

7

DDs n pay orders Free Acc. Maintainace charges

Free 100 125+25pe r tr. 50 2/per 1000 50

8

ICICI

ABN AMRO

HDFC

150+25 Free

(a) AQB<5000 (b)AQB>or=5,000&<700 0 (c)AQB>or=7,500&<100 00

1,500

750

500

750

1,250

750

500

750

750

750

500

750

(d)AQB>or=10,000

0

0

0

0

9

Quarterly Statement

Free

Free

Free

Free

10

Monthly Statement

Free

Free

Free

Free

11

Duplicate Statement

100/150

100

100

100

12

Pass Book

Free

Free

13

Duplicate Pass book

14

Cheque book

15 16

ATM card ATM card outside India

17

Debit card(Per year)

Free

100 Free

Free

50

Free

Free

Free

Free

Free

usage 140 200

100 99

Skyline Business School, Gurgaon

180

110

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

18

Gold year)

19

Lost Card re-issue

20

Debit

card(Per 799

400

500

(a) ATM Card

100

200

100

(b) Debit card

200

200

100

(c) Gold Debit card

799

500

Manual cash withdrawal (a) within India

100

(b) outside India

150

21

Replacement of Pin

Free

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

350

350

350

100

100

100

125+ charges

200

24

25

Cheque return (a)issued by customer 300 (b)deposited by customer 100 150+other (c ) Foreign currency banks cheques charges

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

5.4: SAVING ACCOUNT POTENTIAL SURVEY A survey was being conducted as a part of project in Delhi NCR region and to analyse the market potential of saving account specially SBC’s saving account in comparison to other banks. The total sample size of the survey is 300. 5.4.1: 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.

5.4.2: RESEARCH METHODOLOGY The research methodology consisted of two phases. Phase one consisted of data collection. It included primary data collection as well as secondary data collection. Primary data collection consisted of the survey process. People of different age group as well as income category were asked to fill a common questionnaire. Secondary data collection consisted of data collection from (on line Survey, Internet and books). 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.

5.4.3: SOURCES OF DATA COLLECTION Sample size of survey is 300 so it is very large so to complete this survey I decide to conducting two way of survey: 1. Field Survey 2. OnLine Survey

Skyline Business School, Gurgaon

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1. FIELD SURVEY My First Source of Data Collection is Field and I choose Delhi and Gurgaon for field survey in Delhi and Gurgaon I decide to choose the different places from where I think that I can capture more data for this survey. Places in New Delhi

Places in Gurgaon

Nehru Place

DLF Phase (All Phases)

Okhla Industrial Area Phase-II

Sushant Lok

Okhla Industrial Area Phase-II

South City – I

Greater Kailash-II

South City – II

Connaught Place

Udhyog Vihar

Hauz Khas

HUDA

Vasant Kunj

Sadar Bazar

Saket

M.G Road

South Ex.- I South Ex.- II Rohini Pitam Pura Karol Bagh

2. ONLINE SURVEY I also do survey Online on the site (www.magicsurveytool.com) where I makd a survey and loaded in it and send this link to the people like during the field who busy and not able to give more time that time I just took their E-Mail. So they filled the form and I capture data from there.

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5.4.4: RESULT AND ANALYSIS

FEMALE VS MALE

Male Vs Female 250 206

No.& %

200 150 100

94

No. Percentage Log. (No.)

68.67

50

31.33

0 Male

Female Gender

Analysis of Above Diagram: In this analysis we can see that to the comparison of female, male is too high so according the data we can say that man do financial planning for his family.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

1. NO. OF PEOPLE PARTICIPATED IN SURVEY ON THE BASIS OF DIFFERENT AGE GROUP( in Years)

Q. Age a) 20 - 30 Year

b) 30 – 40 Year

c) 40 – 50 Year

d) Above 50 Year

No. Of People Of Different Age Group 20, 7%

20-30

60, 20%

30 - 40 135, 45%

40 - 50 Above 50

85, 28%

Analysis of Above Diagram: In this survey total 300 persons participated. Out of 300, 272 are male and 628 are female. If we take the people age group wise then 20-30(45%), 3040(28%), 40-50(20%) and 50-60(7%). This shows that younger generation more attract towards privatisation means private sector.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

2. NO. OF PEOPLE PARTICIPATED IN SURVEY FROM DIFFERENT OCCUPATION.

Q. Occupation a) Govt. Service

b) Private Service

c) Business

d) Professional

No. & %

e) Other

160 140 120 100 80 60 40 20 0 e .S t v Go

136

No. %

77 45.33

35

25.67

11.67

ice v r t Pv

34 11.33

ic e v er S .

ss e sin u B

al n sio s e of r P

18 6

he t O

r

Occupation

Analysis of Above Diagram: In this survey total 300 persons participated. Out of 300, 35 are Govt. Employees, 77 are Pvt.Employees,136 are Business man, 34 are Professional(Lawyers,Doctors,Teachers, etc.) 18 People are from other category. So we can see mostly those people who have own business and do Private Job are interested to be a part of this survey.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

3. NO. OF PEOPLE PARTICIPATED IN SURVEY ON THE BASIS AWARENESS OF STANDARD CHARTERED BANK STRAIGHT TO BANK SERVICES.

Q. Are you aware of Standard Chartered Bank straight to bank services? a) Yes b) No

Awareness of People Yes or No

Yes No

57 19%

243 81%

Analysis of the above diagram: Its very good for the standard chartered bank as most of the People are aware of the services provided by the bank.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

4. NO. OF PEOPLE PARTICIPATED IN SURVEY WHO ARE AFFECTING OR NOT AFFECTING BY FINANCIAL CRISIS IN UNITEDSTATE (US).

Q. Does the financial Crisis in US affecting your functioning here in INDIA? a) Yes b) No

Yes

102, 34%

No

198, 66%

Analysis of the above diagram From the pie chart its quite evident that the financial crisis in US are affecting people globally and even insurance companies are gravely affected by the crisis

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5. NO. OF PEOPLE PARTICIPATED IN SURVEY WHO HAVE THEIR ACCOUNTS IN DIFFERENT BANK Q. In which Bank do you have your account? a) Standard Chartered Bank c) HDFC Bank

b) ICICI Bank d) ABN – AMRO Bank

e) Others

No. and % of People Vs Using Bank 17 6%

74 25%

Standard Chartered ICICI

11 4%

139 45% 59 20%

HDFC ABNAMRO Others

Analysis of the above diagram Here we find that the market potential of ICICI Bank is high because out of 300 people 139(45%) peoples have ICICI Account. In HDFC 59(20%) in Other Bank 74(25%) . Where Standard chartered Bank has only 17(7%) people.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

6. NO.

OF

PEOPLE

PARTICIPATED

IN

SURVEY

WHO

HAVE

DIFFERENT TYPES OF SAVING ACCOUNTS Q. Which type of saving Account do you have? a) Zero Balance

b) Minimum 10,000

c) 10,000 - 25,000

d) More than 25000

No. and % of People 9 3%

71 24%

68 23%

Zero Balance Minimum 10,000 10,000 25,000 More Than 25,000

152 50% Analysis of the above diagram Here we find that the market potential of A/c Minimum Rs.10,000 is high because out of 300 people 152(50%) peoples have Min 10,000 Saving account and second largest is Zero Balance it’s Market share is 71 (24%) out of 300 and Market share of 10,000 – 25,000 is 68 (23%)out of 300,and market share of More than 25,000 is so low it is 9 (3%) out of 300.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

7. NUMBERS OF

PEOPLE WHO LIKE COLLECT

CASH FROM

DIFFERENT MODES

Q. What are your main modes of premium collection? a) Cash b) Cheque c) Draft

d) Others

Different Modes use by People

30 10%

19 6%

77 26%

Cash Cheque Draft Other

174 58%

Analysis of the above diagram Most of the People accept premium in the form of cheque as it’s a safer instrument than cash and is easily handled as compared to demand draft Standard Chartered Bank can provide various cheque collections options to the people.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

8. NO.OF PEOPLE LIKE TO USE THE FEATURES OF BANK ACCORDING THEIR AGE GROUP 1. Which feature do you like most in your bank? a) 24 / 7 Internet Banking c) Services

b) Largest ATM Network d) Others

a) 20 – 30 AGE GROUP YEARS Age Group 20 - 30 Vs Likink Features

24 18%

25 19%

28 21%

Internet Banking Largest ATM Network Services Others

58 42%

b) 30 – 40 AGE GROUP YEARS Age Group 30 - 40 Vs Likink Features

15 18%

12 14%

Internet Banking 17 20%

Largest ATM Network Services Others

41 48%

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

c) AGE GROUP 40 – 50 YERAS

5 8%

Age Group 40 - 50 Vs Likink Features 4 7%

Internet Banking 19 32%

Largest ATM Network Services Others

32 53%

d) AGE GROUP ABOVE 50 YEARS Age Group Above 50 Vs Likink Features 2 10%

1 5% 3 15% Internet Banking Largest ATM Network Services Others

14 70%

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

e) TOTAL NO. OF PEOPLE WHO LIKE DIFFERENT FEATURES OF BANKS Total No. of People Vs Likink Features

41 14%

47 16%

Internet Banking Largest ATM Network

67 22%

Services

Others

145 48%

Analysis of the above diagrams As far as the using features are concerned the people are more aggressive towards the Services of Banks then after they said about the ATM Network 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. Through the online banking people more conscious about mobile recharge, various bill payments like electricity bill, mobile bill etc.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

9. NUMBERS OF PEOPLE WHO LIKE PAY CASH FROM DIFFERENT MODES

Q. What are your main modes making payments? a) Cash c) Draft

b) Cheque d) Others

Different Modes use by People

29 10%

20 7%

71 24%

Cash Cheque Draft Other

180 59%

Analysis of the above diagram Most of the People Pay Cash in the form of cheque as it’s a safer instrument than cash and is easily handled as compared to demand draft.

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10.

NO. OF PEOPLE WHO ARE SATISFIED OR UNSATISFIED WITH THEIR BANK’S SERVICES

Q. Are you satisfied with your Bank’s services? a) Yes b) No

c) Can’t Say

People's Satisfaction Vs Bankse

Yes

No

Can't Say

105 35%

165 55% 30 10%

Analysis of the above diagram From the above analysis it can be interpreted that most of the People were satisfied by their bank’s Services but still I found few areas Peoples are not satisfied with their Banks and some are those who were not sure about their satisfaction.

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

11. TOTAL NO. OF PEOPLE ACCORDING THEIR HOUSEHOLD INCOME PARTICIPATED IN THIS SURVEY. Q. Your Annual household Income a) 2.5 – 3.5 Lakhs

b) 3.5 – 4.5 Lakhs

c) 4.5 – 5.5 Lakhs

d) Above 5.5 Lakhs

Total Household Income according Income Group 180

163

160 140 No. & %

120

No. %

100 80

67 54.33

60 40

42 28

22.33

14

20

9.33

0 2.5 - 3.5

3.5 - 4.5

4.5 - 5.5

Above 5.5

Income Group

Analysis of the above diagram The result come out from the above analysis that no. of people their household income is 3.5 – 4.5 use the services of bank the people their household income is 2.5 – 3.5 they are the second largest users. Income group 4.5 – 5.5 is third and Above 5.5 is on fourth Place.

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12. TOTAL

NO.

OF

PEOPLE

ACCORDING

THEIR

MONTHLY

EXPENDITURE PARTICIPATED IN THIS SURVEY. Q. Monthly Expenditure a) Less than 10,000

b) 10,000 – 20,000

c) 20,000 – 30,000

d) More than 30,000

No. & %

Monthly Expenditure 200 180 160 140 120 100 80 60 40 20 0

182

No. %

60.67

61

35

20.33

Less than 10,000

11.67

10,000 20,000

20,000 30,000

22

7.33

More than 30,000

Expenditure Group

Analysis of the above diagram No. of people their monthly expenditure is10,000 – 20,000 is largest and their monthly expenditure is less than 10,000 they are second largest and 20,000 – 30,000 group at no. third and more than 30,000 is lowest expenditure group.

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13. NO. OF PEOPLE WHO LIKE TO PREFER OTHER BANK IF THEY SWITCH THEIR CURRENT BANK. Q. If you want to switch on to other Bank, which Bank will you preferred? a) Standard Chartered Bank b) ICICI Bank c) HDFC Bank

d) ABN – AMRO Bank

e) Others

a) PEOPLE PREFERRED BANK (IF SWITCHES)

People Prefered Bank (If Switches) 140 119

120

No.& %

100

85

80

67

NO.

60 39.67

40

28.33

22.33

20

%

19 6.33

10

3.33

0

ha C rd da n a St

re rte

d

nk Ba

ICI

CI

HD

FC N AB

-

RO M A

O

S ER H T

Name of Banks

Analysis of the above diagram Here we can see that the people have positive mind with the ICICI bank because out of 300 people 119 (39.67%) will prefer this bank and during this survey 85 (28.33%) like to prefer SCB and 67 (22.33%) like HDFC, 19 (6.33%) are preferring ABN – AMRO and 10 (3.33) will prefer others.

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14. NO. OF PERSONE WHO PARTICIPATED IN THIS QUESTION. Q. Any Relative or Friend is Connected With Standard Chartered Bank? a) Yes b) No

103 34%

Yes No

197 66%

Analysis of the above diagram In this diagram we can see that most person’s relative and friend are connected with the standard chartered bank so it is positive result for SCB because it can capture those people whose relative or friends are connected with SCB.

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15. ANALYSIS OF THOSE PEOPLE WHO PARTICIPATED IN THIS QUESTION AND LIKE TO OPEN SAVING ACCOUNT IN STANDARD CHARTERED BANK. Q. Would you like to open an Saving Account in Standard Chartered Bank? a) Yes b) No

No. of people liking Open Saving A/c with SCB

79 26%

Yes No

221 74%

Analysis of the above diagram Above Diagram we can see that large no. of people 221(74%) do not open an a/c in SCB but during this survey some person 79 (26%) who liked open Saving A/c in SCB it also good for SCB first it should capture 79 (26%) person after that it should think about remain 221 that why they do not open an A/c in SCB.

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16. NO. OF PERSON WHO LIKE TO CONNECTED WITH STANDARD CHARTERED BANK WITH ANY SERVICES.

Q. Would you like to Connect with Standard Chartered Bank for any Services? a) Yes b) No

No. of people liking to connected with SC B with any services

132 44% 168 56%

Yes No

Analysis of the above diagram In this diagram we can see that during this survey 132 (44%) people agreed to connected with SCB with any services so it also a good result for Standard Chartered Bank.

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5.4.5: THE RESULT OUTCOME OF THIS SURVEY 

132 people agreed to connected with Standard Chartered Bank



79 person out of 132 agreed to open an saving account in Standard Chartered Bank



34 people had opened their Saving Account in Standard Chartered Bank till my project done.



6 person had opened their current account in SCB



12 people had taken Insurance policy.

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CHAPTER 6: ____________________________________________________ 6.1: LIMITATION OF PROJECT 

The allotted time period of 8 weeks for the study



The Sample size is 300 which is large.



The survey done in the Delhi and Gurgaon region.



The time period of data collection is very small.



Behaviour of respondent.



All data collected in June, July and first week of August 2009, when sensex was at 15,000 points. So the condition of market was not so good.



Due to this reason no one wanted to talk about investment or other banking product.



There is no sample from rural areas.



The study might not produce absolutely accurate results as it was based on a sample taken from the population.

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6.2: CONCLUSION The study allowed us get answers regarding the service awareness among people and the problems it faces. The key findings and analysis of the survey shoed the following:



We all are well known that how much time is precious for everyone. Everyone does not want waste his/her time single minute. In this competitive era world are globalised. Due to globalisation every person wants to be fastest. Standard Chartered Bank also wants 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.



I also found that people wants to switches the banks when I said why are you want switch then some are go for Brand name, some for service and some for new features like mobile banking, doorstep banking, free transaction in any ATM etc.



I found that people more eager about banking service whatever bank charges for services. As I already said that people have not much time. Show they utilise latest service which provided by the banks. In mean while people also go for the brand name because they want to show their standard.



Last but not least I found that age group 20-30 & 30-40years people more conscious about ATM Network, Banking Services and Brand name.

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

The service provided by staright2bank does offer the main requirements of the customers for which they visit or call the branch.



Customers were not aware that the service was a free one, this is clear that almost all the attributes of the services are favorable to the customers still customers are not using the service and are not even aware of it.



Almost all customers once educated about the service readily enrolled for it whereas a mere portion did not trust the bank and thought that the bank would have some hidden charges that they are not putting forward.



Many clients who enrolled for the staright2bank service would have problems using it as the drop boxes are not strategically placed many areas do not even have drop box facility; Standard chaetered Bank must look into the policies of installing the drop box. They should assign it to the regional office or allow branches to put up boxes where the branch thinks it would be optimally utilized no matter which area of the city as of now that branches are allowed to put up drop boxes in a radius which falls in close by areas to the branch. A customer who lives close by to the branch would not use this service whereas customers who are far of require the service, however the branch cannot provide them with the facility as they cannot install the boxes in that area and it is the duty of the local branch of that area to put up boxes which is not happening they hardly know where customers of the other branch are located.

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6.3: RECOMMENDATIONS

We suggest following measures, which Standard chartered Bank could take so as to take on heavy competition from its Competitors:



To identify regions where promotions are required. SCB lacks visibility in western region where as it is a well known name in western region. Even then, its promotional campaign focuses on western region where as northern region is still waiting for promotional campaigns.



Try to reduce cost, so that benefits can be passed on to customers. Senior managers at SCB keep on telling that it is difficult to reduce cost, because of services we provide. But the fact is, India being a price sensitive market; people at times go for monetary benefits rather than for long-term non- monetary benefits.



If charges can’t be reduced because of costs involved, make the services customized, so that services are provided to only those customers who are willing to pay the price for services they are getting and let the other customers enjoy costs benefits without getting services.



SCB should provide competitive prices as nowadays a lot business is being acquired by HDFC bank and ICICI bank and SCB is facing a lot competition from these banks.

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

SCB should contact with their clients regularly for knowing the problems faced by them. This will help SCB in providing best services to customers. This will result in additional customer base by getting further references from satisfied clients.



SCB should provide a separate relationships manager who should be liable to handle all the needs of the client as the clients here are big corporate giants.



SCB should focus on getting the business other business clients other than its existing customers as it would help them to increase their business opportunities.

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6.4: 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



www.rbi.org.in



http://www.iloveindia.com/finance/insurance/life-insurance/unit-linkedinsurance-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



100 hour Insurance training – IRDA



Brochures of ICICI Bank, HDFC, Standard Chartered, ABN AMRO



Schedule of Service Charges (ICICI, HDFC, ABN AMRO, Standard Chartered)



Interaction with concerned personnel’s on getting the questionnaires filled

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Study Of Saving Account Of SCB With Its Key Competitors And Customer Survey

6.5: ANNEXURES 1. Q UESTIONNAIRE

2. TABLE OF SERVICE CHARGES OF STANDARD CHARTERED BANK’S SAVING ACCOUNT

3. TABLE COMPARISON OF VARIOUS BANK ’S SERVICE AND CHARGES WITH STANDARD CHARTERED BANK .

4. CERTIFICATE GIVEN BY STANDARD CHARTERED BANK AFTER COMPLETED SUMMER INTERNSHIP.

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