1. PRESENTED BY- SWATI SIKHA BEHERA (17DM020)
L KUMAR (17DM025)
PRATIKSHYA PARIDA (17DM026)
SOUMYA PANIGRAHI (17DM051)
ARVIND KUMAR THAKUR (17DM075)
COMPARATIVE ANALYSIS
OF SAVINGS ACCOUNT OF
SELECTED BANKS
2. SAVINGS ACCOUNT
A savings account is the most common form of an interest-bearing deposit account which
is held with a bank that provides a nominal interest rate.
It is designed to encourage and promote savings.
It is a demand liability.
FEATURES:
Savings accounts are best suited for salaried employees or people with a monthly income.
It earns interest between 3.50 % to 6% on a pre-specified basis.
Minimum balance required is usually low and varies from bank to bank.
These accounts do usually carry the facility of issuing cheques.
Restriction on withdrawals: Max 50 transaction in 6 months
Restriction on deposits: Re. 1 min in cash and Rs.5 min through cheque
3. NAME OF SELECTED BANKS
PUBLIC SECTOR BANKS
1. STATE BANK OF INDIA
2. PUNJAB NATIONAL BANK
PRIVATE SECTOR BANKS
1. HDFC BANK
2. AXIS BANK
3. INDUSIND BANK
4. 1. STATE BANK OF INDIA (SBI)
Founded : 2nd June 1806 (Bank of Calcutta)
Jan 1921(Imperial Bank of India)
1st July 1955 (SBI)
2nd June 1956 (Nationalized)
Chairman : Mr. Rajneesh Kumar
Headquarters : Mumbai
Owner : Government Of India (61.23%)
Total Assets : ₹2,705,966.30 crore (US$410 billion) (2017)
Market Share : 22%(Domestic)
Branches : more than 24,000
Ranked 232nd in the Fortune Global 500 in 2016.
5. TYPES OF SAVINGS ACCOUNT-
Savings Plus Account
Yuva Savings Account
Basic Savings Account
Small Account
Savings Account for Minor
SBI Salary Accounts(8 Types)
6. Savings Plus Account-
This type of account is linked to Multi Option Deposit (MOD) where
surplus funds crossing the upper limit of the savings bank account is
automatically transferred to Term Deposits.
This scheme will retain a minimum of Rs. 25,000 in the savings
account.
The term deposits will be opened in multiples of Rs. 1000 with a
minimum of Rs. 10,000 at one instance.
The account holder can choose the tenure of the deposit of 1 to 5
years.
Interest rate on savings account 4% p.a.
Facilities such as ATM card, mobile banking, Inter Net banking, SMS
alerts are available in this account.
7. SBI Small Account-
A small account is provided to people who cannot meet the KYC (Know
your customer) requirements.
Upper limit - Rs. 50,000
A basic debit card is issued for free with no annual maintenance charge.
Interest rate - 4% p.a.
Deposits/cheques drawn by Central/State Government are free.
All credits in the financial year should not exceed Rs. 1 Lakh
Withdrawals and Transfers (month)- <= Rs 10000/.
8. 2. PUNJAB NATIONAL BANK
Founded - 19th May 1894, Lahore
Founder - Dyal Singh Majithia
Key People - Sunil Mehta (MD and CEO)
Headquarter - New Delhi
Owner - Government Of India
Total Assets - 667,390.45 crore
Branches - 6937
9. TYPES OF SAVINGS ACCOUNT-
Saving Deposit (General) Account
Premium Saving Account Product
PNB SF Prudent Sweep For The Accounts Of Institutions
Family Protection Account
PNB Junior SF Account
PNB Vidyarthi SF Account
Basic Saving Bank Deposit Account (BSBDA)
PNB Rakshak Scheme
PNB Shikshak Sweep Scheme
Scheme For Providing Overdraft Facility To Pensioners
PNB Power Savings
PNB Pension Savings Account
New Salary Saving Products
10. PNB Rakshak Scheme-
Minimum deposit : NIL & Q.A.B. : Nil
Sweep allowed after Rs.10000 and thereafter in multiples of Rs.1000 thereof.
Tenure of FDR: 7 days to 179 days. For FD interest amount must remain at least for
7 days in FFD / or O/D facility of up to sum of last two months net salary.
RTGS/NEFT: Free
Outstation Cheque instant credit: Rs.25000/-
Accidental Insurance :
Below officer rank : Rs.3 lac , air accident Rs. 5.00 lac
Officers below the rank of Brigadier : Rs. 5 lac, air accident Rs. 10.00 lac
Brigadier & above : Rs. 10 lac, air accident Rs. 20.00 lac
11. PNB SF Prudent Sweep For
The Accounts Of Institutions-
Eligibility: Institutions permitted for opening Saving Fund Accounts
Initial Deposit: Rs. 500/- (For Govt. Accounts- It Is NIL)
Minimum Quarterly Average Balance: Rs. 5000/- for Rural/Semi-Urban & Rs.10000/-
for Urban/Metro areas.
SWEEP IN AND OUT: Sweep in/out shall take place after the cut off balance of
Rs.10.00 lacs and in multiples of Rs.1.00 lac. Sweep out will be on daily basis.
Tenure: 7 days to one year at the option of the customer
The funds will be swept in i.e. cancellation of Fixed Deposit, in case of need on
Last In First Out Basis (LIFO)
Various Free Facilities:
Up to 2 remittances with the maximum amount of Rs.25,000
Free Collection of Outstation Cheques- Upto the maximum amount of Rs.25,000/- in a
month.
12. 3. HDFC BANK
HDFC (Housing Development Financial Corporation) Bank Limited is
an Indian banking and financial services company.
HDFC Bank is India’s largest private sector lender by assets.
Headquarter: Mumbai
Key People: Aditya Puri
Total assets: Rs. 863,840 crore
No. of branches: 4715
Interest rate:
3.5% per annum for accounts having deposits up to Rs.50 lakh
For accounts having deposits above Rs.50 lakh, the interest rate is
at 4% per annum.
13. TYPES OF SAVINGS ACCOUNT-
SavingsMax Account
Regular Savings Account
Women's Savings Account
Kids Advantage Account
Senior Citizens Account
Family Savings Group Account
Basic Savings Bank Deposit Account
Government/Institutional Savings Account
BSBDA Small Account
Government Scheme Beneficiary Savings Account
14. Kids Advantage Account-
Product Features:
Debit card:
ATM/International Debit Card will be issued in child's name with guardian’s permission.
Child can withdraw Rs. 2,500 at ATMs and spend Rs. 10,000 at merchant locations per day.
Education Insurance cover : Rs.1,00,000/- in the event of death of the parent/ guardian
Standing Instruction to transfer any amount from parent account to Kid's Advantage account
every month (Minimum value Rs. 1,000 & Minimum tenure 1 year)
Money Maximizer ( sweep-out)- If balance in the Kid's Advantage Account reaches/exceeds Rs.
35,000, the amount in excess of Rs. 25,000 will automatically be transferred to a Fixed Deposit
for 1 year and 1 day, in child's name.
Eligibility: For a child (up to 18 years of age) and parents should have a Savings Account with
HDFC Bank.
Minimum Average Monthly Balance: Rs. 5,000/-
15. Family Savings Group Account-
Product Features:
Debit card:
Free Easy Shop International Debit Card for all account holders for lifetime of the group
Free cash withdrawal transactions at any bank ATMs
Discounts and Offers
50% discount on Locker rental and applicable for the first year of allotment only
Free DD/MC on HDFC Bank locations up to Rs.50,000 per account per month
Sweep-in Facility: Savings account to savings account sweep-in to a nominated account
Cross-Product Benefits: 50% discount on locker rental for the first year of allotment
Transact with Ease: 5 Free cash withdrawal transactions at all HDFC Bank ATMs and non-HDFC
Bank domestic ATMs
16. Cont.
Average Monthly Balance: Rs. 40,000
Eligibility:
All members who have an individual HDFC Bank account
A minimum of 2 and maximum of 4 accounts can be grouped under a
single Family Savings Group (FSG).
Non-Resident (NR) accounts can also be grouped
Savings Max, Current and HUF accounts cannot be grouped under an
FSG account
The Customer ID of the Primary account holder in the group will be the
Group ID
The Primary account holder cannot be a minor
17. 4. AXIS BANK
Third largest of the private-sector banks in India
Founded: 1993
Headquarter : Mumbai
MD: Shikha Sharma
Branches: 3304
Total Asset : 601,467 Crore (2017)
Interest rate:
3.5% per annum for accounts having deposits up to Rs.50 lakh
For accounts having deposits above Rs.50 lakh, the interest rate is
at 4% per annum.
19. AXIS ASAP Account-
Axis ASAP is a Digital Savings Account.
Debit Card: Virtual and Physical form of debit card
Product features: Get prevailing one year FD rate automatically when
balance exceeds Rs.10,000
Free transfer of funds, payment of bills and account statements free of
charge
AMB: No minimum balance required
Offers n discount: Get Rs.1000 off on flights/hotels on Clear trip
Get 250 eDGE Reward points on account opening
20. YOUth Account-
Branch Transaction: No free transactions per month (transactions include branch cash
deposit/withdrawal and DD/PO requests)
Debit Card: Visa Classic YOUth Card
Daily ATM Withdrawal: Rs.40,000 & Daily Shopping: Rs.1 Lakh
Product features:
1 multicity cheque book free per quarter
4 Cash transactions free per month
AMB: Initial Funding of Rs. 3,000
Offers n discount:
Personalised image debit card
Enjoy up to 15% discount at over 4000 restaurants
21. Inaam Personal Account-
Product features:
1 multicity cheque book free per quarter
Rs. 200,000 of deposit/withdrawal or 20 free branch transactions free per month
Debit card: Visa Classic Debit Card
Daily ATM Withdrawal: Rs.40,000 & Daily Shopping: Rs.1 Lakh
Average Monthly Balance:
Average Monthly Balance (AMB) of Rs. 10,000 for Metro, Urban locations
Average Monthly Balance (AMB) of Rs. 5,000 for Semi Urban locations
Average Monthly Balance (AMB) of Rs. 5,000 for Rural location
Chequebook service: One, free, multicity cheque book per quarter (20 leaves)
Offers n discount:
Enjoy up to 15% discount at over 4000 restaurants
eDGE Loyalty Reward Points
22. Trust/NGO Savings Account-
Bank transaction: Free Anywhere Banking across all the branches and extension
counters
Debit card: Visa Classic Debit Card
Daily ATM Withdrawal: Rs.40,000 & Daily Shopping: Rs.1 Lakh
Product features:
Unlimited free cheque-books
Unlimited free branch cash transactions
Offers and discount:
Enjoy up to 15% discount at over 4000 restaurants
eDGE Loyalty Reward Points
Average Monthly Balance (AMB) : Rs. 25,000
Chequebook services: Multi-city, at-par, cheque facility with no limit on clearing
payments at centres across the country
23. 5. INDUSIND BANK
Mumbai based Indian new generation private bank
Established- April 1994
Founder- Mr. Srichand P Hinduja
Derives its name from Indus Valley Civilization
Provides facilities such as Net Banking, Phone Banking, Mobile
Banking and IVR support for easy access to the account.
The bank is a pioneer in launching internet banking.
It is rated as one of the Top Performing Banks in various
surveys.
As on 31 December 2017, the bank had 1,320 branches and
2,162 ATMs spread across 702 geographical locations of the
country.
The bank also has representative offices in London, Dubai and
Abu Dhabi.
Balance
Interest Rate
on Balance
Daily balance
up to 1 lakhs
4 %
Daily balance
above 1 lakhs
and up to 10
lakhs
5 %
Daily Balance
above 10
lakhs
6 %
25. Indus Diva Savings Account-
Designed exclusively for women
Product features :
Platinum Plus Debit card
25% discount on the first year standard locker fee
Free Add-on accounts for family
Banking from anywhere in the country /world
Host of free services and benefits
Free transaction on all ATM across India and one international ATM withdrawal
free per month
Free demand drafts at all the branches and 1 correspondent bank demand draft
for an amount up to Rs. 50,000 per day.
Doorstep Banking
Eligibility: Resident Indian women (sole or joint account)
Average quarterly balance: Rs. 25,000 or fixed deposit of Rs. 5 lakhs.
26. Indus Senior Savings Account-
Eligibility: Resident Indian (sole or joint account) above the age of 60
years
1. Indus Senior (Privilege)
Debit card: Free RuPAY Debit Cards
Higher interest (0.5% additional) on Fixed deposits
Insurance and Discount:
Personal Accident Insurance of Rs. 1,00,000 is available to customers
as a part of the RuPAY Debit card offering
Discount of 20% on Medical tests done at SRL Labs
Average monthly balance: Rs. 10,000 or a fixed deposit of Rs. 2,50,000
27. 2. Indus Senior (Maxima)-
0.5% higher rate of interest on fixed deposits products
Debit card: Free Platinum Debit card
For shopping and purchases: Rs. 2,00,000/- per day
For ATM cash withdrawals: Rs. 1,00,000/- per day
Free Add on Accounts for family
20% discount on first year fee of Standard Locker
Average quarterly balance: Rs. 25,000 or a fixed deposit of Rs. 5 lakh
Insurance and Discounts:
Personal Accident Insurance of Rs. 1,00,000
Medical Insurance up to Rs. 50,000 for fractures
Discount of 20% on Medical tests done at SRL Labs
28. Indus 3 in 1 Account-
IndusInd 3 in 1 account is a tailor-made product for those customers who
wish to invest in the stock market.
The account brings 3 different banking services under one umbrella in
partnership with Kotak Securities(broking partner).
Apart from the features of a regular saving account, the other add-on
features of this savings account with IndusInd Bank are:
Hassle-free assimilation of 3 products – saving account, demat and trading
account
State-of-the-art trading solutions in partnership with Kotak Securities
Most competitive pricing in the industry
40. Satisfaction with MAB (monthly average balance)
requirement and non-maintenance charges in savings A/c:
SBI PNB INDUSIND BANK
HDFC BANK AXIS BANK
41. Communication and providing prompt information about charges
and interest rate for savings A/c:
SBI PNB INDUSIND BANK
HDFC BANK AXIS BANK
42. Satisfaction with the interest rate provided by your bank on
savings A/c:
SBI PNB INDUSIND BANK
AXIS BANK HDFC BANK
43. Is your bank providing OD facility in savings account?
SBI PNB INDUSIND BANK
AXIS BANK HDFC BANK
44. Does your bank offer zero balance facility on savings
account ?
SBI
PNB INDUSIND BANK
AXIS BANK HDFC BANK
45. Does your bank provide locker facility on discount rate for
savings A/c holder?
SBI PNB INDUSIND BANK
AXIS BANKHDFC BANK
46. CONCLUSION
Private Banks have most satisfied customers with
respect to customer services and promptness in
communicating any change in the account or system
as compared to the Public sector banks.