PROJECT ON
“BUSINESS ASPECTS IN BANKING AND INSURANCE”

SUBMITTED BY
SACHIN THOMAS
BACHELOR OF MANAGEMENT STUDIES
DIV-C,

...
CERTIFICATE

This is to certify that this project report entitled “Business Aspects in
Banking and Insurance Project on Cr...
Date-21-08-2013

ACKNOWLEDGEMENT

I would like to express my special thanks of gratitude to my teacher who gave me
the gol...
CONTENTS
Sr.no

INDEX

1
2
3
4
5

Aim
Introduction
What is a credit card?
Who can be a credit card holder?
Particulars dis...
11

On what basis do you provide
credit limit to your credit card
customers?
12
13
14

Do You provide balance transfer
fac...
issuing the credit card knows well the customer and his creditworthiness.
Basically, the use of credit cards helps the hol...
can contact the customer service cell/helpline and get the necessary
correction done. This facility is provided free of co...
• What are the different types of credit cards provided by your bank?

• AXIS BANK :
• Infinite Credit Card

• Signature W...
• MY Zone Credit Card

• MY Business Credit Card

• Miles & More Credit Card

• Corporate Credit Card
• Titanium Smart Traveler Credit Card

• Platinum Credit Card

• Insta Easy Credit Card

• Trust Chemists Credit Card
• Shriram Credit Card

• ICICI BANK :
• ICICI bank Diamant Credit Card
• ICICI bank Sapphiro Credit Card

• ICICI bank Rubyx Credit Card

• ICICI bank Coral Credit Card

• Jet Airways ICICI ban...
• Jet Airways ICICI bank Coral Credit Card

• ICICI bank British Airways Premium Credit Card

• ICICI bank HPCL Platinum c...
• ICICI bank Platinum Identity Credit Card

• ICICI bank Ascent American Express Credit Card

• ICICI bank British Airways...
• ICICI bank Instant Titanium Credit Card

• ICICI bank Instant Gold Credit Card

• ICICI bank Future Gold Credit Card

• ...
• ICICI bank Classic Credit Card

• ICICI bank Affinity Credit Card

• ICICI bank EMI Credit Card

• ICICI bank Value for ...
• What are the interest and charges on the above mentioned
types of credit card?
• AXIS BANK:
Charges

Standard Joining
Fe...
•

Rs. 5000
Rs. 600 if •
Total
Payment Due
is Rs. 5001
or more

3% of the
over limit
amount (Min.
Rs 500)
Charge slip Retr...
Charges
Standard
Joining Fee

Platinum
Advantage
Rs 1000

Platinum

Titanium/Gold

Silver

Rs. 500 (Waived
on spends of
Rs...
Standard
Annual Fee

Rs 500

Nil, for cards
setup before
February 07,
2011
Rs.200 (from 2nd
year onwards.
Waived on
spends...
Penalty or Late
Payment Fee
•

•

Over Limit
Penalty
Charge slip
Retrieval Fee
or Copy
Request Fee
Outstation
Cheque Fee
C...
ICICI
Bank Card
Variant

Joining Fee Annual Fee Annual Fee Supplementary
(1st year)
(1st year)
(2nd year
Card Fee
onwards)...
Credit Card
Jet Airways
ICICI Bank
Rubyx Visa
Credit Card
Jet Airways
ICICI Bank
Coral
American
Express
Credit
Card
Jet Ai...
ICICI Bank
1,000
Coral Credit
Card
ICICI Bank
Nil
HPCL
Platinum
Credit Card /
ICICI Bank
HPCL
Titanium
Credit Card
ICICI B...
• What types of benefits or services are provided by your
institution to your credit card customers?
• AXIS BANK:
Exclusiv...
Ø

eDGE Loyalty rewards program

Ø

eShop Card

Ø

Comprehensive Insurance Cover

Ø

Mobile Alerts

Ø

Global Acceptance

...
• Comprehensive Insurance Cover
• Mobile Alerts
• Global Acceptance
• Global Emergency Assistance
• Interest Free period*
...
Highest Level of Security : EMV certified Chip embedded Card, which gives
you the highest levels of security.

Comprehensi...
pumps on select cards. Cost of fuel will be recovered along with charges
and taxes levied if any by the acquiring bank at ...
• ICICI BANK:
When you receive your bill, you have the flexibility of selecting any of the
following payment options:
Pay ...
Various attractive schemes like the „0% Balance Transfer offer' and the „Life
Time Balance Transfer offer‟, along with zer...
REFERENCES:
• www.axisbank.com
• www.icicibank.com
• Pooja Rohida,
Assistant Manager,
Axis Bank , (Ambarnath East) Branch.
• Deepak Kalani,
Privilege Banker,
ICICI Bank, (Am...
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  1. 1. PROJECT ON “BUSINESS ASPECTS IN BANKING AND INSURANCE” SUBMITTED BY SACHIN THOMAS BACHELOR OF MANAGEMENT STUDIES DIV-C, ROLL NO-165 ACADEMIC YEAR 2013-2014 SUBMITTED TO PROF. ZEENAT SHAIKH, JOSHI-BEDEKAR COLLEGE, MUMBAI UNIVERSITY
  2. 2. CERTIFICATE This is to certify that this project report entitled “Business Aspects in Banking and Insurance Project on Credit Cards of Axis bank and ICICI bank” submitted to Joshi-Bedekar College , is a bonafide record of work done by “ Sachin Thomas ” under my supervision from “1807-2013 ” to “ 21-08-2013”. Signature Mrs. Zeenat Shaikh Countersignature B.M.S Department, Joshi-Bedekar, College Place- Thane
  3. 3. Date-21-08-2013 ACKNOWLEDGEMENT I would like to express my special thanks of gratitude to my teacher who gave me the golden opportunity to do this wonderful project on the topic- Credit Card: Axis bank and ICICI bank , which also helped me in doing a lot of Research and I came to know about so many new things. I am really thankful. Secondly I would like to thank all employees of Axis and ICICI banks who helped me a lot in finishing this project within the limited time. I am making this project not only for marks but to also increase my knowledge. THANKS AGAIN TO ALL WHO HELPED ME.
  4. 4. CONTENTS Sr.no INDEX 1 2 3 4 5 Aim Introduction What is a credit card? Who can be a credit card holder? Particulars displayed on credit cards 6 What are the different types of credit cards provided by your bank? 7 What are the interest and charges on the above mentioned types of credit card? What types of benefits or services are provided by your institution to your credit card customers? What security measures are being adopted by your institution for security of your credit card products? 8 9 10 What are the conditions for fuel surcharge refund? Page no
  5. 5. 11 On what basis do you provide credit limit to your credit card customers? 12 13 14 Do You provide balance transfer facility? Do you provide revolving credit facility? Do you provide EMI facility? • AIM The main aim of this project is to do a comparision between the credit card products of Axis bank and ICICI bank. • INTRODUCTION The development of plastic money is one of the recent Phenomenon's in the banking sector. Plastic money is a charge card. It is a direct charge against the limit sectioned. It is a debt instrument issued by some specialized companies. It is one step forward towards cashless and cheque less society. The operation is through electronic funds transfer {EFT} installations and inter-bank network. Credit cards are key to the opening of bank accounts for daily payments by the card holders. Credit card has been rightly called "PLASTIC MONEY". The objective is to provide convenience and security. It eliminates cash transactions, and protects from the danger of pick pocketing a lot of cash. There is usually interest free credit for 30 to 45 days. These plastic cards have the photo identity and holders signature embossed on the card. It also has the issuing banks name and validity period of the card. The bank
  6. 6. issuing the credit card knows well the customer and his creditworthiness. Basically, the use of credit cards helps the holder to take the advantage of the two essential aspects of the financial services functions: • Transmission of payments • The granting of credit. 1.WHAT IS A CREDIT CARD? A credit card is a card or mechanism which enables to purchase goods, travel and dine in a hotel without making immediate payments. The holders can use the cards to credit from banks unto 45 days. The credit card relieves the consumer from the botheration cash and ensures safety. It is a convenience of an extended credit without formality. Thus, credit card is a passport to, SAFETY, CONVENIENCE, PRESTIGE AND CREDIT. • WHO CAN BE A CREDIT CARD HOLDER? The general criterion applied is a person spending capacity and not merely his income and his wealth. The other criterion is the worthiness of the client and his average monthly balance. Most of the banks have clear out the norms for giving the credit cards. I. A person who earns a salary of Rs. 60,000/- per annum is eligible for a card. II. A reference from a banker and the employers of the applicant is insisted upon. III. He should have a savings current account in the bank. IV. His assets and liabilities on a particular date are reported to bank. V. A statement of annual or monthly income. VI. He is considered credit worthy upon to certain limit depending upon his income, assets and expenditure. The eligible customer is asked to fill in application form giving the details of account number , name , address , income , wealth status and a proof of his income/wealth etc. • PARTICULARS DISPLAYED ON THE CREDIT CARDS Every credit card bears the following particulars: • NAME OF THE CUSTOMER: Every card displays the name of customer. It should be spelled correctly. In case, it does not, the customer
  7. 7. can contact the customer service cell/helpline and get the necessary correction done. This facility is provided free of cost by the bank. • 16-DIGIT CARD NUMBER : A unique 16 digit numb0er is allotted to every customer/ cardholder. • VALIDITY DATE : The card mentions the period through which it is valid. The card is usually valid from the it is received by the customer unto and including the last day of the month indicated on the card. After the card has to be renewed. • THE VISA HOLOGRAM AND THE VISA LOGO: The hologram and the logo ensure that all the establishments throughout the world displaying the visa logo will accept the card. • NAME OF THE ISSUING BANK: The card indicates on the top the name of the issuing bank. • SIGNATURE PANEL: The back of the card contains the signature panel. The customer must put his signature on the signature panel to prevent misuse by any other person. This identifies the card holder. Signature on the panel would imply that card holder has given his consent to abide by the terms and conditions governing the use of the credit card. The card is valid is only if signed. • MAGNETIC STRIP: The black magnetic strip contains important information in encoded from and needs special handling. The card should not be kept in an area where there is a continuous magnetic field. It should not be left on the top the television. Set or near any electronic appliance. The card should be kept away from heat and direct sun light. • PIN (PERSONAL IDENTIFICATION NUMBER): Each card holder is issued a password or pin to enable use of the card for accessing his/her card account on the ATM and internet and also for availing any privilege, benefit or service that may be offered by bank on the card. The pin is communicated to the cardholder entirely at his/her risk who shall not disclose the pin to any person and shall take all possible care to avoid its discovery by any person. The card holder shall be liable for all transactions made with the use of the pin whether with or without the knowledge of the cardholder
  8. 8. • What are the different types of credit cards provided by your bank? • AXIS BANK : • Infinite Credit Card • Signature Wealth Credit Card • MY Wings Credit card • MY Choice Credit Card
  9. 9. • MY Zone Credit Card • MY Business Credit Card • Miles & More Credit Card • Corporate Credit Card
  10. 10. • Titanium Smart Traveler Credit Card • Platinum Credit Card • Insta Easy Credit Card • Trust Chemists Credit Card
  11. 11. • Shriram Credit Card • ICICI BANK : • ICICI bank Diamant Credit Card
  12. 12. • ICICI bank Sapphiro Credit Card • ICICI bank Rubyx Credit Card • ICICI bank Coral Credit Card • Jet Airways ICICI bank Sapphiro Credit Card • Jet Airways ICICI bank Rubyx Credit Card
  13. 13. • Jet Airways ICICI bank Coral Credit Card • ICICI bank British Airways Premium Credit Card • ICICI bank HPCL Platinum credit Card • ICICI bank Instant Platinum credit Card • ICICI bank Visa Signature Credit Card
  14. 14. • ICICI bank Platinum Identity Credit Card • ICICI bank Ascent American Express Credit Card • ICICI bank British Airways Classic Credit Card • ICICI bank Platinum Credit Card • ICICI bank Titanium Credit Card
  15. 15. • ICICI bank Instant Titanium Credit Card • ICICI bank Instant Gold Credit Card • ICICI bank Future Gold Credit Card • ICICI bank HPCL Gold Credit Card • ICICI bank Preferred Credit Card
  16. 16. • ICICI bank Classic Credit Card • ICICI bank Affinity Credit Card • ICICI bank EMI Credit Card • ICICI bank Value for money Credit Card
  17. 17. • What are the interest and charges on the above mentioned types of credit card? • AXIS BANK: Charges Standard Joining Fee Standard Annual Fee Standard Add-on Card Joining Fee Standard Add-on Card Annual Fee Finance Charges (Retail Purchases & Cash) Cash Withdrawal Fees Fee for Cash Payment Card Replacement (lost or stolen or reissue) Emergency Card Replacement Fee when overseas (through VISA) Duplicate Statement Fee Overdue Penalty or • Late Payment Fee • Privée Infinite Credit Card Nil Wealth Signature Credit Card Nil Signature Credit Card Nil Nil Nil Nil Nil Nil Nil Nil Nil 2.95% per month (41.75% per annum) 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- 2.95% per month (41.75% per annum) 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- 2.95% per month (41.75% per annum) 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- Waived Waived Waived As per VISA Global Customer Assistance Services (GCAS). Waived As per VISA Global Customer Assistance Services (GCAS). Waived As per VISA Global Customer Assistance Services (GCAS). Waived Rs. 300 if • Total Payment Due is up to Rs. 2000 Rs. 400 if • Total Payment Due is between Rs. 2001 - Rs. 300 if Total Payment Due is up to Rs. 2000 Rs. 400 if Total Payment Due is between Rs. 2001 - Rs. 300 if Total Payment Due is up to Rs. 2000; Rs. 400 if Total Payment Due is between Rs. 2001 Rs. 5000; Rs. Nil
  18. 18. • Rs. 5000 Rs. 600 if • Total Payment Due is Rs. 5001 or more 3% of the over limit amount (Min. Rs 500) Charge slip Retrieval Waived Fee or Copy Request Fee Outstation Cheque Waived Fee Cheque return or Rs 300 dishonour Fee or Auto debit Reversal Bank A/c out of Funds Surcharge on As prescribed purchase or by cancellation of IRCTC/Indian Railway Tickets Railways Fuel Transaction 2.5% of Surcharge transaction amount or Rs. 10, whichever is higher (Refunded for fuel transactions between Rs. 400 and Rs. 4000) Foreign Currency 3.50% of the Transaction Fee transaction value Mobile Alerts for Waived Transactions Hotlisting Charges Waived Balance Enquiry Waived Charges Over Limit Penalty Rs. 5000 Rs. 600 if Total Payment Due is Rs. 5001 or more 3% of the over limit amount (Min. Rs 500) Waived Waived Rs 300 600 if Total Payment Due is Rs. 5001 or more. 3% of the over limit amount (Min. Rs 500) Waived Waived Rs 300 As prescribed As by prescribed by IRCTC/Indian IRCTC/Indian Railways Railways 2.5% of 2.5% of transaction transaction amount or amount or Rs. 10, Rs. 10, whichever is whichever is higher higher (Refunded for (Refunded fuel for fuel transactions transactions between Rs. between Rs. 400 and Rs. 400 and Rs. 4000) 4000) 3.50% of the 3.50% of the transaction transaction value value Waived Waived Waived Waived Waived Waived
  19. 19. Charges Standard Joining Fee Platinum Advantage Rs 1000 Platinum Titanium/Gold Silver Rs. 500 (Waived on spends of Rs. 5000 within 45 days of card setup), for cards setup on or after February 07, 2011 Rs. 250 (Waived on spends of Rs. 2500 within 45 days of card setup), for cards setup on or after February 07, 2011 Nil
  20. 20. Standard Annual Fee Rs 500 Nil, for cards setup before February 07, 2011 Rs.200 (from 2nd year onwards. Waived on spends of Rs. 100000 in the preceding year), for cards setup on or after February 07, 2011 Nil, for cards setup before February 07, 2011 Standard Addon Card Joining Fee Standard Addon Card Annual Fee Finance Charges (Retail Purchases & Cash) Nil, for cards setup before February 07, 2011 Rs.100 (from 2nd year onwards. Waived on spends of Rs. 50000 in the preceding year), for cards setup on or after February 07, 2011 Nil Rs 100, for cards setup before February 07, 2011 Nil, for cards setup before February 07, 2011 Rs 100, for cards Nil setup before February 07, 2011 Nil Nil, for cards setup on or after February 07, 2011 Nil Nil, for cards setup on or after February 07, 2011 Nil 2.95% per month (41.75% per annum) 2.95% per month (41.75% per annum) Titanium: 3.25% 3.25% per month per month (46.78% per (46.78% per annum) annum) Nil Nil Cash Withdrawal Fees Fee for Cash Payment 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- Gold: 2.95% per month (41.75% per annum) 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/- Card Replacement (lost or stolen or re-issue) Emergency Card Replacement Fee when overseas (through VISA) Duplicate Statement Fee Overdue • Waived Waived Waived Waived As per VISA Global Customer Assistance Services (GCAS). As per VISA Global Customer Assistance Services (GCAS). As per VISA Global Customer Assistance Services (GCAS). As per VISA Global Customer Assistance Services (GCAS). Waived Waived Waived Waived Rs. 300 if Total • Rs. 300 if Total• Rs. 300 if Total • Rs. 300 if Total 2.5% (Min. Rs 250) of the Cash Amount Rs. 50/-
  21. 21. Penalty or Late Payment Fee • • Over Limit Penalty Charge slip Retrieval Fee or Copy Request Fee Outstation Cheque Fee Cheque return or dishonour Fee or Auto debit Reversal Bank A/c out of Funds Surcharge on purchase or cancellation of Railway Tickets Fuel Transaction Surcharge Foreign Currency Transaction Fee Mobile Alerts for Transactions Hotlisting Charges Balance Enquiry Charges Payment Due is up to Rs. 2000 Rs. 400 if Total • Payment Due is between Rs. 2001 - Rs. 5000 Rs. 600 if Total • Payment Due is Rs. 5001 or more Payment Due is up to Rs. 2000 Rs. 400 if Total• Payment Due is between Rs. 2001 - Rs. 5000 Rs. 600 if Total• Payment Due is Rs. 5001 or more Payment Due is up to Rs. 2000 Rs. 400 if Total Payment Due is between Rs. 2001 - Rs. 5000 Rs. 600 if Total Payment Due is Rs. 5001 or more 3% of the over limit amount (Min. Rs 500) Waived Payment Due is up to Rs. 2000 Rs. 400 if Total • Payment Due is between Rs. 2001 - Rs. 5000 Rs. 600 if Total • Payment Due is Rs. 5001 or more 3% of the over limit amount (Min. Rs 500) Waived 3% of the over limit amount (Min. Rs 500) Waived Waived Waived Waived Waived Rs 300 Rs 300 Rs 300 Rs 300 As prescribed by IRCTC/Indian Railways As prescribed by IRCTC/Indian Railways As prescribed by As prescribed by IRCTC/Indian IRCTC/Indian Railways Railways Waived (For fuel transaction to be between Rs 400 and Rs 4000) 3.50% of the transaction value Waived (For fuel transaction to be between Rs 400 and Rs 4000) 3.50% of the transaction value Waived (For fuel transaction to be between Rs 400 and Rs 4000) 3.50% of the transaction value 2.5% or Rs 10 whichever is higher Waived Waived Waived Waived Nil Nil Nil Nil Waived Waived Waived Waived • ICICI BANK: 3% of the over limit amount (Min. Rs 500) Waived 3.50% of the transaction value
  22. 22. ICICI Bank Card Variant Joining Fee Annual Fee Annual Fee Supplementary (1st year) (1st year) (2nd year Card Fee onwards) (Annually) ICICI Bank Sapphiro Credit Card ICICI Bank Signature Credit Card ICICI Bank Singapore Airlines VISA Platinum Credit Card ICICI Bank British Airways Premium Credit Card Account ICICI Bank British Airways Classic Credit Card Account ICICI Bank Rubyx Credit Card Jet Airways ICICI Bank Sapphiro American Express Credit Card Jet Airways ICICI Bank Sapphiro Visa Credit Card Jet Airways ICICI Bank Rubyx American Express 25,000 Nil 3,500* Nil 25,000 Nil 2,000 Nil Nil 6,000 6,000 Nil Nil 7,000 7,000 Nil Nil 3,500 3,500 Nil 5,000 Nil 2,000** Nil 5,000 Nil 5,000 250 5,000 Nil 5,000 250 2,500 Nil 2,500 250
  23. 23. Credit Card Jet Airways ICICI Bank Rubyx Visa Credit Card Jet Airways ICICI Bank Coral American Express Credit Card Jet Airways ICICI Bank Coral Visa Credit Card ICICI Bank Ascent American Express (R) Credit Card ICICI Bank Kingfisher Airlines MasterCard World Credit Card ICICI Bank Kingfisher Airlines MasterCard Platinum Credit Card ICICI Bank Kingfisher Airlines MasterCard Titanium Credit Card ICICI Bank Platinum Identity Credit Card 2,500 Nil 2,500 250 1,250 Nil 1,250 250 1,250 Nil 1,250 250 4,000 Nil 1,000 Nil Nil 5,000 2,500 Nil Nil 2,000 1,000 Nil Nil 500 500 Nil 2,000 Nil 750 Nil
  24. 24. ICICI Bank 1,000 Coral Credit Card ICICI Bank Nil HPCL Platinum Credit Card / ICICI Bank HPCL Titanium Credit Card ICICI Bank Nil Platinum Chip Credit Card Nil 500*** Nil 500 500**** Nil 199 99**** Nil Finance charges: ICICI Bank Card Variant All Cards except for the cards mentioned below ICICI Bank Instant Platinum Credit Card / ICICI Bank Instant Gold Credit Card /Fixed Deposit Instant Credit Card ICICI Bank EMI Credit Card Jet Airways ICICI Bank Credit Cards Overdue Interest on Extended Credit Interest on Cash Advances Monthly Rate 3.40% Annual Rate Monthly Rate Annual Rate 40.80% 3.40% 40.80% 2.49% 29.88% 2.49% 29.88% 1.49% / 1.99% 3.50% 17.88% / 23.88% 42% 1.49% / 1.99% 3.50% 17.88% / 23.88% 42%
  25. 25. • What types of benefits or services are provided by your institution to your credit card customers? • AXIS BANK: Exclusive Benefits: Ø Petrol Surcharge Refund
  26. 26. Ø eDGE Loyalty rewards program Ø eShop Card Ø Comprehensive Insurance Cover Ø Mobile Alerts Ø Global Acceptance Ø Global Emergency Assistance Ø Interest Free period* Ø Revolve Facility Ø Balance Transfer Ø Cash Advance Facility Ø Auto Debit Facility Ø EMI Facility Ø Joining & Annual Fee Ø E-statements Ø Limit Enhancement Ø Cash Withdrawal Ø Balance transfer ICICI BANK: • Petrol Surcharge Refund • PAYBAK rewards program
  27. 27. • Comprehensive Insurance Cover • Mobile Alerts • Global Acceptance • Global Emergency Assistance • Interest Free period* • Revolve Facility • Balance Transfer • Cash Advance Facility • Auto Debit Facility • EMI Facility • Joining & Annual Fee • E-statements • Limit Enhancement • Cash Withdrawal • Balance transfer • What security measures are being adopted by your institution for security of your credit card products? • AXIS BANK: Highest Level of Security : EMV certified Chip embedded Card, which gives you the highest levels of security. Comprehensive insurance cover: Comprehensive insurance cover including Air Accident Cover, Travel related covers, Credit Shield and Lost Card Liability to put mind at ease. • ICICI BANK:
  28. 28. Highest Level of Security : EMV certified Chip embedded Card, which gives you the highest levels of security. Comprehensive insurance cover: Comprehensive insurance cover including Air Accident Cover, Travel related covers, Credit Shield and Lost Card Liability to put mind at ease. • What are the conditions for fuel surcharge refund? • AXIS BANK: Fuel Surcharge Refund : Enjoy fuel surcharge refund on spends at all fuel stations across India with your Axis Bank Credit Card (valid on transactions between Rs. 400 and Rs. 4000 only. Service Tax charged on fuel surcharge is non-refundable. No reward points are earned on fuel transactions). • ICICI BANK: Fuel surcharge refund: 2.50% of transaction value or Rs.10 whichever is higher. Surcharge waiver of 2.5% of transaction value on HPCLpetrol pumps on select cards (this offer is valid on a maximum transaction of ` 4,000, when the payment is made by swiping the card on ICICI Merchant Services swipe machines).Surcharge waiver of 2.5% of transaction value on all petrol
  29. 29. pumps on select cards. Cost of fuel will be recovered along with charges and taxes levied if any by the acquiring bank at actual. • On what basis do you provide credit limit to your credit card customers? • AXIS BANK: The 'Credit limit' is the maximum amount you can spend or borrow using your Credit Card in one billing cycle. This limit is based on various factors relating to your income. The credit limit can be changed on the basis of your payment and transaction history. • ICICI BANK: The 'Credit limit' is the maximum amount you can spend or borrow using your Credit Card in one billing cycle. This limit is based on various factors relating to your income. The credit limit can be changed on the basis of your payment and transaction history • Do you provide revolving credit facility? • AXIS BANK: The repayment options available to you are as below: Pay only the Minimum Amount Due (5% of the bill amount subject to a minimum of Rs 100) and remaining amount can be paid in subsequent months Pay the total amount due. Pay any amount ranging from the minimum amount due to the total amount due.
  30. 30. • ICICI BANK: When you receive your bill, you have the flexibility of selecting any of the following payment options: Pay the total amount due. Pay only the minimum amount due. Pay any amount ranging from the minimum amount due to the total amount due. Should you opt for either of the last two options, then the unpaid amount due is carried forward to the next billing period. This is referred to as the revolving credit facility. • Do You provide balance transfer facility? • AXIS BANK: Transfer your existing balance from other credit cards to your Axis Bank Credit Card at a special rate of interest and save substantially. There are two exciting plans to choose from: Balance Transfer Plan @ 0% 0% interest rate for 3 months* 2.95% interest after 3 months 2% processing fee or Rs. 199 (whichever is higher) • ICICI BANK: The ICICI Bank balance transfer facility allows you to transfer your outstandings from your other-banks‟ credit cards to your ICICI Bank Credit Card at interest rates as low as 0%.
  31. 31. Various attractive schemes like the „0% Balance Transfer offer' and the „Life Time Balance Transfer offer‟, along with zero documentation and crisp draft delivery make the ICICI Bank Credit Card balance Transfer programme the best in the market. • Do you provide EMI facility? • AXIS BANK: EMI Facility : EMI feature on Axis Bank Credit Card gives you the convenience of paying for High Value Credit Card transactions in easy EMIs. • ICICI BANK: "EMI on Call" means choosing to pay for retail transactions made on ICICI Bank credit card in Instalments and is provided / agreed to be provided by ICICI Bank, at its sole discretion, to the card member to the extent of amounts not exceeding the available cash-limit / credit-limit. The card member shall repay the facility and interest thereon in EMIs. The interest shall be at such rate which has been indicated by ICICI Bank to the card member at the time of making the offer for the facility and as also as communicated to the card member. The interest calculation will start from the time the transaction has been booked for the facility. The amount of the EMIs together with other details of the Facility (including rate of interest) shall be also communicated to the card member at his/her mailing address.
  32. 32. REFERENCES: • www.axisbank.com • www.icicibank.com
  33. 33. • Pooja Rohida, Assistant Manager, Axis Bank , (Ambarnath East) Branch. • Deepak Kalani, Privilege Banker, ICICI Bank, (Ambarnath East) Branch. • www.wikipedia.org paste the visiting cards of the two banks over here.

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