Hdfc bank 1

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Hdfc bank 1

  1. 1. PREFACEThis project report is a result of my rigorous and devoted efforts and valuableguidance of Mr. Ajeet Singh (Assist. Manager) and it is the result of the training inHDFC bank, it contains brief history of the organization and company’s mission/objective. The HDFC Bank is a well known name for its valuable services. TheCompany is maintaining the quality of the product throughout. I have done mysummer project in HDFC bank, Asuran branch, Gorakhpur, which is the busiestcenter of HDFC bank. The focus of the project is overview of the various aspectsof account and its features with respect to the other Private Banks of India. Thisproject as a summer training is a partial fulfillment of two year MBA Course. Inthis project I have strived to include all the details regarding the subject and madea sincere effort towards completion of the same.In the course of training I learned various practical aspects of marketing and Iknew about how to conduct a quality market research, what are the advantages andlimitations of the marketing research. 1
  2. 2. ACKNOWLEDGEMENTI will be indebted to Mr. Ajit Singh (Assist. Manager), my project guide, life longfor his guidance and support through out my training at HDFC bank, Asuranbranch. His calm demeanor and willingness to teach has been a great help incompletion of the project. My learning has been immeasurable and working underhim was a great experience. My sincere thanks also extend to all the staffs ofHDFC bank for providing a hospitable and helpful work environment and makingmy summer training an exciting and memorable event.I am also very much thankful to all other teachers and staffs for their kindassistance at last I am highly obliged to KIPM-COLLEGE OF MANAGEMENTas a whole for making this experience of summer training in an esteemedorganization like HDFC Bank possible. The learning from this experience hasbeen immense and would be cherished throughout life. 2
  3. 3. TABLE OF CONTENTSHDFC BANK PROFILE PAGE NO.  Introduction 6  Objective mission & Business strategies 7  Technology 9  Business segment 10-12  Organisational Structure (Retail) 13-14  Business updates 15  Merger with Centurion Bank of Punjab 16  Share Analysis 17-20  Awards & Achievement 21-23  HDFC code of conduct 24  Scope 25  Rational 25  Literature 25Project Report  Executive Summary 26-27Study of Current and Saving Account of HDFC Bank  Account & Deposits 28-30  Purpose & Description 31-33  Saving Accounts 34 o Saving Regular 35-36 o Saving Plus 37-38 o Saving Mode 39-41 3
  4. 4. o Senior Citizen sowing 42-45 o Kinds Advantage 46  Current Account 48 o Regular current 49-50 o Premium current 51-52 o Trade current 53-54 o Plus current 55-56 o Max current 57-59 o Apex current 60-62 o Flexi current 63-65  Cards 66-68 o Credit Cards 69-72 o Debit Cards 73-77 o Prepaid Cards 78-80Comparative Analysis of Current and Saving Account of HDFC Bank withother Bank  Objective 81  Process Methodology 82-86  Sample Design 87  Questionnaire 88-90  Finding & Analysis 91-94  Satisfaction Level 95-104  Conclusion 109  Recommendation 110  Bibliography 113-115Annexure  Financial High Light 116  Balance Sheet 117  Profit & Loss Statement 118-119 4
  5. 5.  Cash Flow Statement 120-121 Financial Analysis 122-123 5
  6. 6. Profile of HDFC Bank We understand your world 6
  7. 7. INTRODUCTIONHDFC Bank one amongst the firsts of the new generation, tech-savvy commercialbanks of India, was incorporated in August 12 after the Reserve Bank of Indiaallowed setting up of Banks in the private sector. The Bank was promoted by theHousing Development Finance Corporation Limited, a premier housing financecompany (set up in 1977) of India. HDFC Bank commenced operations as aScheduled Commercial Bank in January 1995.Mr. Jagdish Capoor took over as the bank’s Chairman in July 2001. Prior to this,Mr. Capoor was a Deputy Governor of the Reserve Bank of India.The Managing Director, Mr. Aditya Pun, has been a professional banker for over25 years, and before joining HDFC Bank in 1994 was heading Citibank’soperations in Malaysia.The Bank’s Board of Directors is composed of eminent individuals with a wealthof experience in public policy, administration, industry and commercial banking.Senior executives representing HDFC are also on the Board.Currently HDFC Bank has 1148 branches. 1977 ATMs, in 325 cities in India, andall branches of the bank are linked on an online realtime basis. Moreover, HDFCBank’s ATM network can be accessed by all domestic and internationalVisalMasterCard. Visa Electron/Maestro, Plus/Cirrus and American ExpressCredit/Charge cardholders. The bank offers many innovative products & servicesto individuals, corporate, trusts, governments, partnerships, financial institutions,mutual funds, insurance companies.It is a path breaker in the Indian banking sector. In 2007 HDFC Bank acquiredCenturion Bank of Punjab taking its total branches to more than 1,000. Though, 7
  8. 8. the official license was given to Centurion Bank of Punjab branches, to continueworking as HDFC Bank branches, on May 23, 2008.The authorized capital of HDFC Bank is Rs.450 crore (Rs.4.5 billion). The paid-up capital is Rs.3 11.9 crore (Rs.3 .1 billion). The HDFC Group holds 22.1% ofthe bank’s equity and about 19.4% of the equity is held by the ADS Depository (inrespect of the bank’s American.Depository Shares (ADS) Issue). Roughly 31.3% of the equity is held by ForeignInstitutional Investors (FIIs) and the bank has about 190.000 shareholders. 8
  9. 9. Objective mission & Business strategiesHDFC Bank’s mission is to be a World-Class Indian Bank. benchmarkingourselves against international standards and best practices in terms of productofferings, technology, service levels, risk management and audit & compliance.The objective is to build sound customer franchises across distinct businesses so asto be the preferred provider of banking services for target retail and wholesalecustomer segments, and to achieve healthy growth in profitability, consistent withthe bank’s risk appetite. The bank is committed to maintain the highest level ofethical standards, professional integrity, corporate governance and regulatorycompliance.HDFC Bank’s business philosophy is based on four core values:  Operational Excellence  Customer Focus  Product Leadership  PeopleOur business strategy emphasizes the following:  Increase our market share in India’s expanding banking and financial services industry by following a disciplined growth strategy focusing on balancing quality and volume growth while delivering high quality customer service;  Leverage our technology platform and open scaleable systems to deliver more products to more customers and to control operating costs;  Maintain high standards for asset quality through disciplined credit risk management;  Develop innovative products and services that attract our targeted customers and address inefficiencies in the Indian financial sector;  Continue to develop products and services that reduce our cost of funds; and 9
  10. 10.  Focus on healthy earnings growth with low volatiFity. 10
  11. 11. TechnologyHDFC Bank operates in a highly automated environment in terms of informationtechnology and communication systems. All the bank’s branches have onlineconnectivity, which enables the bank to offer speedy funds transfer facilities to itscustomers .Multi-branch is also provided to retail customers through the branchnetwork and Automated Teller Machines (ATM’s).The Bank has made substantial efforts and investments in acquiring the besttechnology available internationally to build the infrastructure for a world classbank in terms of software. The corporate banking business is supported by Flexcube with the retail banking business by Finware, both from i-flex Solutions Ltd.The systems are open, scale able and web-enabled. The Bank has prioritized itsengagement in technology and the internet as one of its key goals and has alreadymade significant progress in web-enabling its core businesses. In each of itsbusinesses, the bank has succeeded in leveraging its market position, expertise andtechnology to create a competitive advantage and build market share.Capital StructureThe authorized capital of HDFC Bank is Rs.. 450 crore (Rs.4.5 Billion).The paid-up capital is Rs.311.9 crore (Rs.3.1 billion).The HDFC Group holds 22.1% of thebank’s equity and about 19.4% of the equity is held by the ADS Depository (inrespect of the bank’s American Depository Shares (ADS) issue).roughly 31.3 % ofthe equity is held by Foreign Institutional Investors (Fils) and the bank has about190,000 shareholders. The shares are listed on The Stock Exchange, Mumbai andthe National Stock Exchange. The bank’s American Depository Shares are listedon the New York Stock Exchange (NYSE) under the symbol “HDB”. 11
  12. 12. Business SegmentsHDFC Bank offers a wide range of commercial and transactional banking servicesand treasury products to wholesale and retail customers. The bank has three keybusiness segments:Wholesale Banking ServicesThe Bank’s target market ranges from large, blue-chip manufacturing companiesin the Indian corporate to small & mid-sized corporates and agri-based businesses.For these customers, the Bank provides a wide range of commercial andtransactional banking services, including working capital finance, trade services,transactional services, cash management, etc. The bank is also a leading providerof structured solutions, which combine cash management services with vendor anddistributor finance for facilitating superior supply chain management for itscorporate customers. Based on its superior product delivery / service levels andstrong customer orientation, the Bank has made significant inroads into thebanking consortia of a number of leading Indian corporates includingmultinationals, companies from the domestic business houses and prime publicsector companies. It is recognised as a leading provider of cash management andtransactional banking solutions to corporate customers, mutual funds, stockexchange members and banks.Retail Banking ServicesThe objective of the Retail Bank is to provide its target market customers a fullrange of financial products and banking services, giving the customer a one-stopwindow for all his/her banking requirements. The products are backed by world-class service and delivered to the customers through the growing branch network, 12
  13. 13. as well as through alternative delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.The HDFC Bank Preferred program for high net worth individuals, the HDFCBank Plus and the Investment Advisory Services programs have been designedkeeping in mind needs of customers who seek distinct financial solutions,information and advice on various investment avenues. The Bank also has a widearray of retail loan products including Auto Loans, Loans against marketablesecurities, Personal Loans and Loans for Two-wheelers. It is also a leadingprovider of Depository Participant (DP) services for retail customers, providingcustomers the facility to hold their investments in electronic form.HDFC Bank was the first bank in India to launch an International Debit Card inassociation with VISA (VISA Electron) and issues the Mastercard Maestro debitcard as well. The Bank launched its credit card business in late 200L BySeptember 30, 2005, the bank had a total card base (debit and credit cards) of 5.2million cards. The Bank is also one of the leading players in the “merchantacquiring” business with over 50,000 Point-of-sale (POS) terminals for debit /credit cards acceptance at merchant establishments.TreasuryWithin this business, the bank has three main product areas - Foreign Exchangeand Derivatives, Local Currency Money Market & Debt Securities, and Equities.With the liberalisation of the financial markets in India, corporates need moresophisticated risk management information, advice and product structures. Theseand fine pricing on various treasury products are provided through the bank’sTreasury team. To comply with statutory reserve requirements, the bank isrequired to hold 25% of its deposits in government securities. l’he Treasurybusiness is responsible for managing the returns and market risk on thisinvestment portfolio. 13
  14. 14. Mr. Aditya Puri (Managing Director) HDFC Bank Organization Structure Mr. Aditya Puri (Managing Director) Mr. Navin Puri ( Retail)North 1 & East North 2 South West 1 West 2 Mr. Seshan Mr. Dheeraj (Mr. Surinder (Mr. Anil Nath) (Mr. Ravi Ramkrishna Reddy Chawla) Naragan) Regional Head (Mr. Gulzar Singh) Zonal Head(Mr. Arun Meduratta) Cluster HeadsAkhilesh Roy Mr. Raju Bagga Mr. Rishiraj Mr. Anil Mr. Anurag Khugsal Gupta 14
  15. 15. Foreign Trade Department ResultOn the foreign trade side, though overall exports showed an accelerated growthduring the last year, a number of sectors such as textiles, handicrafts, and leatherproducts saw growth moderating. The rupee appreciated sharply over the last year(by as much as 11%), which was largely responsible for the deceleration inexports. The prospect of a slowdown in the global economy has increased the riskof a prolonged slowdown in exports.Imports however remained robust in 2007-08, growing almost 30% in the firstthree quarters of the year (as against 22° for the corresponding period last year) onthe back of higher global prices of 0111 and food. This, widened the trade deficitto USD 67 billion in April-January FY08 from USD 45 billion in thecorresponding period of previous year. Despite the increase in the trade deficit,overall, balance of payments was comfortable due to large capital inflows(comprising mainly foreign direct investment, portfolio inflows and externalborrowings). Foreign exchange reserves grew by $107 billion during the year. 15
  16. 16. BUSINESS UPDATE:As of March 31, 2008, the Bank’s distribution network was at 761 branches and1,977 ATMs in 327 cities as against 684 branches and 1,605 ATMs in 320 citiesas of March 31, 2007. Against the regulatory approvals for new branches in hand,the Bank expects to further expand the branch network by around 150 branches byJune 30, 2008.During the year, the Bank stepped up retail customer acquisition with depositaccounts increasing from 6.2 million to 8.7 million and total cards issued (debitand credit cards) increasing from 7 million to 9.2 million. Whilst credit growth inthe banking system slowed down to about 22% for the year ended 2007-08, theBank’s net advances grew by 35.1% with retail advances growing by 38.6% andwholesale advances growing by 30%, implying a higher market share in bothsegments. The transactional banking business also registered healthy growth withcash management volumes increased by around 80% and trade services volumesby around 40% over the previous year. Portfolio quality as of March 31, 2008remained healthy with gross nonperforming assets at 1.3% and net non-performingassets at 0.4% of total customer assets. The Bank’s provisioning policies forspecific loan loss provisions remained higher than regulatory requirements. 16
  17. 17. Merger with Centurion Bank of Pun jab LimitedOn March 27, 2008, the shareholders of the Bank accorded their consent to ascheme of amalgamation of Centurion Bank of Punjab Limited with HDFC BankLimited. The shareholders of the Bank approved the issuance of one equity shareof Rs. 10/- each of HDFC Bank Limited for every 29 equity shares of Re. 1/- eachheld in Centurion Bank of Punjab Limited. This is subject to receipt of approvalsfrom the Reserve Bank of India, stock exchanges and other requisite statutory andregulatory authorities. The shareholders also accorded their consent to issue equityshares andlor warrants convertible into equity shares at the rate of Rs. 1, 530.13each to HDFC Limited andlor other promoter group companies on preferentialbasis, subject to final regulatory approvals in this regard. The Shareholders of theBank have also approved an increase in the authorized capital from Rs. 450 croresto Rs. 550 crores. 17
  18. 18. 18
  19. 19. SWOT AnalysisStrength: • Strong Brand Image • Dedicated Sales Team • Value added service • HDFC Bank specializes in the provision of banking and other financial services to corporate and institutional clients. • The company’s services include commercial, transactional and electronic banking products. • It also provides treasury services, retail banking and capital markets infrastructure. • HDFC Bank is headquartered in Mumbai, India and employs about 37,836 people. • In the 25 years till 2007, the country’s real GDP grew on an average at 6.2% per annum. • In the last four years, however, GDP growth has been faster at 8.8% per annum. • HDFC Bank has 1148 branches, 1977 ATMs, in 325 cities in India 19
  20. 20. • HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000. • The Bank has relationships with 110 micro finance institutions and has extended credit facilitiesWeakness: • Rigid Eligibility Criteria • Weak Customer Relations Management • Centralized Structure • High Average Quarterly Balance • Limited Number of ATMs and Branches. Poor Network. • Operations in trade finance are weak. • After merger with CBOP it is time taking process to comp up on same standard level.Opportunities: • Large Untapped Market. • Distinguishable Product. • HDFC is going to open more branches in various cities for which it has already got the licenses. 20
  21. 21. • It has overtaken ICICI bank and rising as reliable brand name bank in market. • It is becoming more customer focused bank as providing various services to achieve their satisfaction. • This is very conservative bank in giving loans as it pre checks all required details of customer so reduces the risk of defaulters. • It is providing good employment opportunities as Total number of employees increased from 21,477 as of March 31, 2007 to 37,836 as of March 31, 2008. • The Bank also has specialized Agri Desks at certain branches across the country which works as a single point contact for farmers.Threats: • Presence of Very strong Competitors. • Aggressive marketing by Competitors. • Various investment scheme with high returns. • Lower capital inflows could also impact domestic liquidity. • Banks operated in an environment where the central bank did not allow any surplus liquidity in the system, resulting in interest rates remaining firm. • Inflation concerns are likely to influence monetary policy stance going forward. • 30% growth rate is a bench mark for HDFC bank which they have to achieve at any cost to maintain its brand image. 21
  22. 22. • They have to achieve satisfaction of their shareholders also for future concern. Awards & AchievementsAs in the past years, awards and recognition have been conferred on your Bank byleading domestic and international organizations during the fiscal 2007-08.Someof them are: • For the fifth consecutive year, Bank has bagged the Business Today’s Best Bank Award. • Outlook Money and NDTV Profit’s Best Bank in the private sector category. • Bombay Stock Exchange and Nasscom Foundation’s Business for Social Responsibility Award. • ‘Dun & Bradstreet — American Express Corporate Best Bank Award 2007.’ There were 26 categories in all, including FMCG, Telecom and Software & IT. • The Financial Express-Ernst & Young Best Bank award in the Private Sector category - this bank shared the top slot with another bank • The Asia Pacific HRM Congress in Mumbai — Bank bagged as many as ten awards including “Organization with innovative HR Practices”. 22
  23. 23. • Business Today Survey conducted by the Monitor Group Innovation Study — This Bank is one of India’s most innovative 28 companies across ten major business sectors. • The ‘Asian Banker Excellence in Retail Financial Service Awards’ - The Best Retail Bank in India.Over a decade of its operations, HDFC Bank has been recognized, rated andawarded by a number of organizations, which includes. • Best Retail Bank in India by the Asian Banker Excellence. (2007) • Best Bank in India by Business Today. (2006) • One of Asia Pacific’s Best Companies by Forbes Magazine. (2006) • Best Local Cash Management Bank in Large and Medium Segments by the Asiamoney Awards. (2006) • Best Domestic Commercial Bank by Asiamoney Awards. (2005) • Best Cash Management of India by the Asiamoney Awards. (2005) • Retail Banking Risk Management Award in India by the Asian Banker Excellence. (2005) • “Company of the Year” Award for corporate excellence” by the Economic times Awards. (2005) • Best Local Cash Management Bank by in India US$ li-lom by the Business Today KPMG Survey. (2005) 23
  24. 24. • “Best Bank in India” for the third consecutive year” by the Business Today. (2005)• Best Overall Domestic Trade Finance Services in India by the Asiamoney Awards. (2004)• One of India’s Most Respected Companies by Business World. (2004)• Best Under a billion 100 Best Smaller Size Enterprises in• Asia/Pacific and Europe by Forbes Global. (2004)• One of India’s Most Respected Companies by Business World. (2003)• Best IT User in Banking by NASSCOM & economictime.com. (2003)• “Best Commercial Bank in India” by Asiamoney magazine. (2002)• “Best Bank in India” by Euromoney. (2002,2001)• The 21st Century Achievement Award for Finance, Insurance & Real Estate category by Computerworld, Inc., USA. (2002)• The Economic Times Awards for Corporate Exceflence as the Emerging Company of the Year. (2000-01) 24
  25. 25. HDFC BANK CODE OF CONDUCT PREAMBLE:Integrity, transparency and trust form part of the core beliefs of all activities atHDFC (hereinafter referred to as ‘The Corporation’) which has been thecontinuing basis of its growth and all round development. This code of conduct orthe code defines what the expects from its business and personnel regardless of thelocation or their background. This code is applicable and binding on all Membersof the Senior Management team comprising of executive directors, personneldesignated as deputy general manager and above, functional Heads and BranchManager (hereinafter collectively referred to as the ‘Senior Management’) andnon-executive directors of the corporation. As the aforesaid Persons individuallyand collectively help shape the growth of the Corporation they are individuallyand collectively responsible to ensure that the corporation Operates with thehighest degree of personal and professional integrity, honesty and ethical conduct.Hence this code has been formulated so as to promote the Highest degree ofpersonal and professional integrity and values into practice. As It is not possible toaddress every possible situation that may arise, the provisions of this code areintended to provide guidance in making ethical decisions and Should therefore beconstrued and applied to further he said objective. This code shall be in addition torules, regulations, standards, policies and procedures that may be laid by thecorporation, from time to time.This code has been approved by the Board of Directors of the Corporation at theirmeeting held on Tuesday, December 13, 2005 and came into effect from January1, 2006. 25
  26. 26. SCOPEBy doing this project I can have an overview of the banking process and what arethe financial aspect related to the banking sector. I can also have overview to thevarious aspect of saving account with respect to other private bank.RATIONALEUnderstand the banking process of standard chartered bank including the controlmechanisms of saving account. The focus of the project is overview of the variousaspect of saving account and identifies the problem. LITERATURE SUPPORTBackground:The Indian Banking system has seen sweeping changes over the years.In the short span of time that they have been in existence, the leading new privatesector banks have truly revolutionized banking in India. There focus ontechnology and customer convenience has brought about a paradigm shift in thebanking business. While Standard Chartered Bank today has built stable businessthat it believes will deliver sustainable value to its stake holders, there are alsomany existing opportunities for further growth. The Bank’s operation can besubdivided into the following categories: 26
  27. 27. EXECUTWE SUMMARYMarket research is the function that links the consumer, customer, and public tothe marketer through information-information used to identify and definemarketing opportunities and problems; generate refine, and evaluate marketingactions; monitor marketing performance; and improve understanding of marketingas a process.Speaking in laymen’s language marketing research is the systematic and objectiveidentification, collection, analysis, dissemination and use of information for thepurpose of assisting management in decision making related to the identificationand solution of problems(and opportunities)in marketing.The objective of the project was to “comparative analysis of accounts of differentbank” in Varanasi. HDFC bank got the research carried out to find what thecurrent trends are in the market and what the competitors’ product offerings are.Also, market share of different banks was to be found and the recommendations toincrease the market share for HDFC bank were to be given.The purpose of the study is to find out the market potential of accounts ascompared to other bank accounts. HDFC Bank is interested in finding out the salespotential of its accounts as compare to other banks. Specifically, the researchobjectives are to: • Gauge the consumer sentiment on the various services provided by the various banks in the city. • Identify areas of improvement on the various services provided by the bank • Determine the type of services needed by the consumers. 27
  28. 28. • Identify the important and attractive attributes in services to retain the existing consumers. • Determine the type of banking parameters most popular with the Consumer. • Identify the important characteristics that make the bank attractive to open an account. • Gather and analyze the future aspirations of the customers with respect to the savings account.For this purpose a primary research was conducted in the Varanasi city. The targetconsumers were of various age —group, sex, monthly income and occupation. Thetotal field work was done for l5days in which a total sample size of 300 consumerswas covered.. The questions cover a wide range of issues including: • Identifying the types of accounts maintained by a consumer and whether he or she is happy with the services. • Obtain the likelihood of the respondent applying for a specific type of services while opening an account. • Determine the characteristics of the various banking features that are important while opening an account. • Finally it will seek demographic information of the respondents. • Analyze the demographic information of the respondents with the account parameters. 28
  29. 29. Accounts & DepositsBanking should be effortless. With HDFC Bank, the efforts are rewarding. Nomatter what a customers need and occupational status, we have a range ofsolutions that are second to none.Whether youre employed in a company and need a simple Savings account or runyour own business and require a robust banking partner, HDFC Bank not only hasthe perfect solution for you, but also can recommend products that can augmentyour planning for the future.Savings AccountsThese accounts are primarily meant to inculcate a sense of saving for the future,accumulating funds over a period of time. Whatever your occupation, we areconfident that you will find the perfect banking solution. Open an account in yourname or register for one jointly with a family member today.RegularSalarySavings PlusClassicSavings Max 29
  30. 30. PayrollNo FrillsRegularSenior CitizensPremiumRetail TrustDefenceKids AdvantageKisan No Frills SavingsPension SavingsFamily SavingsKisan Club SavingsCurrent AccountsNow, with an HDFC Bank Current Account, experience the freedom of multi-citybanking! You can have the power of multi-location access to your account fromany of our 1229 branches in 444 cities. Not only that, you can do most of yourbanking transactions from the comfort of your office or home without steppingout.We make it our business to help you with your business by offering you a CurrentAccount with all the benefits you need to stay ahead of your competition.At HDFC Bank, we understand that running a business requires time and money,also that your business needs are constantly evolving. Thats where we come in.We provide you with a choice of Current Account options to exclusively suit yourbusiness - whatever the size or scope. 30
  31. 31. Open an HDFC Bank Current Account & control your business operationscentrally.PlusTradePremiumRegularRFC DomesticFlexi CurrentReimbursementApexMaxChoose the product most suitable for you:Fixed DepositsLong-term investments form the chunk of everybodys future plans. An alternativeto simply applying for loans, fixed deposits allow you to borrow from your ownfunds for a limited period, thus fulfilling your needs as well as keeping yoursavings secure.Regular Fixed DepositSuper SaverSweep-In5 Year Tax Saving Fixed Deposit 31
  32. 32. Operations Treasury Corporate Retail Banking Banking Savings Current SalaryPURPOSE & DESCRIPTION:SAVINGS ACCOUNT:The Savings account is a transaction account wherein a deposit is placed with thebank for an unspecified period of time whileCURRENT ACCOUNT:The Current account is a transaction account especially meant for business Processwhere cash inflow and outflow carry on for trading purposes.The depositor can withdraw the money whenever required Through any of thefollowing means. 32
  33. 33. Cheques, transfer through an ATM (by ATM or ATM-cum-Debit cards), Standinginstructions, remittances, VISA Money transfer, by making Purchases made on alinked Debit Card at merchant establishments, Pay Orders etc.Interest Paid:  Interest on the account is determined in accordance with directives of the Reserve Bank of India  The current rate is 3.5%  Interest is calculated on the Minimum Credit Balance between the close of the business on the 10th and the last day of each calendar month  Interest is credited to the account every calendar quarter.Generic Value Proposition:  India’s Leading banking group.  Best bank branch network  75f3 branches in 320 locations  24 hour Fully functional phone banking facilities  Any branch banking, anywhere in India  Doorstep banking - bank from your home/office  Internet banking  Mobile Banking 33
  34. 34.  RTGS(Real Time Gross Settlement facility) National electronic Fund Transfer Facility Pay Order Facility. Free monthly account statement. Visa Money Transfer. Online real-time Net banking. ATM Facilities. Debit Card. 34
  35. 35. ACCOUNTS:SAVINGS ACCOUNTA detailed and complete analysis of the product available under Savings account ispresented below: Savings Account Savings Plus Savings regular Senior citizens account Savings Max SAVINGS MAX Kids advantage account 35
  36. 36. SAVINGS REGULARAn easy to operate savings account that allows issuing cheques, Demand Draftsand withdrawing cash. It also gives the facilities of Net Banking, Mobile Bankingand Phone Banking. It also allows to withdraw cash from 1695 ATM centre’s.Features and Benefits:  Wide network of branches and over thousand ATMs to meet all banking needs no matter what is the location  Bank conveniently with facilities like Net Banking and Mobile Banking- check account balance, pay utility bills or stop cheque payment, through SMS.  Never overspend-shopping with International Debit Card that reflects the actual balance in the account.  Personalized cheques with the name printed on each cheque leaf for enhanced security.  Advantage of Bill Pay, an instant solution for frequent utility bill payments. Instruct for payment over the phone or through the internet. Facilities of Safe Deposit Locker, Sweep-in and Super Saver on the account.  3 Free transactions on SBI/Andhra Bank ATMs per month.  Free Payable at Par chequebook, without any usage charges up to a limit of Rs.50, 000/-per month. 36
  37. 37.  Free Insta Alerts for all account holders for lifetime of the account. Free Passbook facility available at home branch for account holders (individuals)  Free Email statement facility.Eligibility & Account Operation: The following are eligible to open a Regular Savings Account.  Resident Individuals (sole or joint account)  Minelow 18 yrs. (account only with guardian)  Hindu Undivided Families.  Trusts  Associations  Clubs or Societies.  Foreign National with undertaking and source of credit, Residence Permit. Account Operation  A minimum deposit of Rs.5,000/- is required to open an account and thereafter an Average Quarterly Amount of the same amount has to be maintained.  It is mandatory to maintain a minimum Average Quarterly Balance (AQB) of Rs.5,000/-If the balance falls below Ps. 5,000/- a service charge of Ps. 750/- will be levied per quarter.  In case of Fixed Deposit of Ps. 50,000/- there is no need to maintain a minimum balance of Ps. 5,000 in savings account. 37
  38. 38. Savings Plus AccountWith the Average Quarter Balance of Rs. 10,000/- Saving Plus Account is theaccess to some of the finest banking facilities.Features and Benefits:  Wide network of branches and over thousand ATMs to meet all the banking needs  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.  Free Payable at Par (PAP) chequebook without any usage charges up to a limit of 50,000 per month.  Free Demand Drafts on HDFC Bank locations, up to a limit of 25,000/- per day.  Free Billpay & InstaAlerts for all account holders for lifetime of the account.  Free Electronic Fund Transfer facility, NetBanking, Phone Banking & Mobile Banking.  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 holder (individuals).  Free Email statement facility. 38
  39. 39. Eligibility and account Operation: The following are eligible to open a Savings Plus Account  Resident individuals (sole or joint account)  Minor below i8 yrs. (account only with guardian).  Hindu Undivided Families.  Foreign National with undertaking and source of credit, Residence Permit.Account Operation:  A minimum deposit of Es. 10,000/- is required to open an account and thereafter an Average Quarterly Balance of the same amount has to be maintained.  If AQB in the savings a/c is >=10,000/- and/or the balance in the FD is >50,000/-, No AQB non maintenance charges will be levied.  If the AQB in the SB a/c falls below 10,000/- and balance in the FD is also<=50,000/- following charges would be applicable:  AQB in the SB a/c between 5,000/- and 10,000/-: Es. 750/-per quarter  AQB in the SB a/c is less than 5,000/: Es. 750/-per quarter  If, the Savings Plus Account AQB is <10,000/-but FD balance is >=50,000/-. No minimum balance charges will apply. 39
  40. 40.  Transaction charges applicable in case the specified AQB is not been maintained in the previous qtr.SAVINGS MAX ACCOUNTBy maintaining an average quarterly balance of Rs. 25,000/- a host of premiumservices will be provided from HDFC Bank.Features and Benefits:  Free unlimited transactions: Cash withdrawal and balance enquiry, at all HDFC Bank ATMs & on any other Bank’s ATM using 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 up to a limit of 1 lac per month.  Free Demand Drafts on HDFC Bank locations, up to a limit of 50,000/- per day at home branch. 40
  41. 41.  Self/Third Party Cash Deposit/Withdrawal at non-home branches, up to Rs. 50,000/-per day free. Above Ps. 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.5o,000/- In the event of the balance in SavingsMax 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. 25,000/- for a 1 year 1 day period.  Free BiliPay & 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 Fund Transfer Facility, NetBanking, PhoneBanking & Mobile Banking.  Free Passbook facility available at home branch for account holders (individual)  Free Email statement facility.Eligibility and Account Operation: The Following are eligible to open a Saving Max Account  Residential Individuals (sole or joint account). 41
  42. 42.  Minor below 18 yrs. (account only with guardian).  Hindu Undivided Families.  Foreign National with undertaking and source of credit, Residence Permit.Account Operation:  A minimum deposit of Rs. 25,000/-is required to open an account and thereafter an Average Quarterly Balance of the same amount has to be maintained.  If the AQB in the SavingsMax a/c >=25,000/-and/or the balance in the FD is > 100,000/-, no AQB non maintenance charges will be levied.  If the AQB in the SavingsMax a/c falls below 25,000/- and balance in the FD is also below 100,000 the following charges would be applicable.  AQB in the SavingsMax a/c between Rs.io,ooo/-and Rs. 1000/-per quarter.  AQB in the SavingsMax a/c is less than Rs. 10,000/- Rs. 1,500/-per quarter  If the SavingsMax a/c AQB is <25,000/-but FD balance is>=100,000/-no minimum balance charges will apply.  Transaction charges applicable in case the specified AQB is not been maintained in the previous qtr. 42
  43. 43. SENIOR CITIZENACCOUNTHDFC Bank appreciates your needs and endeavours, which is why, we present anaccount especially dedicated to you, which like a dutiful child will help you fulfillyour needs in the best manner possible.Features & BenefitsGiven below are some of the exclusive privileges you can look forward with theSenior Citizens Accounts  Shop with pride with your EasyShop International Debit Card offered free for life to the first applicant. Shop (Point Of Sale limit) upto Rs.25,000/- per day.  Enjoy an enhanced cash withdrawal limit of Rs.25,000/- per day on the Debit Card for withdrawals at any HDFC Bank ATM.  Note: If the first applicant is a woman and new to the bank, our special Womans Advantage Debit Card with ATM cash withdrawal limit Rs.20,000/- per day and shopping (Point Of Sale) limit of Rs.30,000/- per day will be issued free by default.  You need not search for an HDFC Bank ATM, you can avail of 3 free cash withdrawal transactions per month at any other bank ATM. 43
  44. 44.  Payable-at-Par (PAP) chequebooks are issued free. With this facility, outstation cheques issued by you (for clearing) will be treated as local cheques, at any HDFC Bank location.  Whats more, enjoy free PAP usage upto Rs.50,000/- per month. A nominal charge of Re.1/- per 1000 will apply above Rs.50,000/- on the full amount.  Keep a close eye on your account with the monthly account statements offered free OR  Avail of free Passbook facility at your account branch.  Use the third party cash transaction facility at non-account branches, to have your near and dear ones deposit / withdraw cash upto Rs.50,000/- per day on your behalf for free. Above Rs 50,000 a charge of Rs 2.90/- per 1000 on the full amount would be applicable.  Use our PhoneBanking, MobileBanking and NetBanking facilities offered free to reach us with ease.  Avail free SMS alerts to know the transactions in your account.  Free Email Statement facility and National Electronic Funds Transfer facility available.Special offers and benefits:  Get preferential rates on FDs  Special offers on new Demat Accounts o Annual Maintenance Charge (AMC) waived off for the first year 44
  45. 45. o Reduced AMC of Rs.250/- from second year onwards o Dematerialisation of physical shares free for lifetime  Special offers on new Online Trading Accounts o Account opening charges Rs.499/- only o 5 trades free .Valid for the next 3 months from the date of account opening  Gold Credit Card free*  Travellers’ Cheques issued freeInsurance Benefits* :Get Accidental Hospitalisation cover of Rs.50,000/- per annum. This is areimbursement cover.You can also claim daily cash allowance* once a year (at Rs.500/- per day for amaximum of 15 days per year) for each day of hospitalisation due to an accident.All you need to do is use your HDFC Bank Debit Card at a MerchantEstablishment for purchase transactions !Your claim will be processed only if you have used your HDFC Bank Debit Cardfor purchase at a Merchant Establishment at least once in the previous 6 monthsfrom the month of your accident. 45
  46. 46. Eligibility & Account Operation:All resident individuals (sole or joint) in the age group of 60 years and above areeligible to open the Senior Citizens Account.In case of joint accounts, the first applicant has to be a senior citizen (>= 60 yearsof age)Account OperationA minimum deposit of Rs. 2,500/- is required to open a Senior Citizens Accountand thereafter an Average Quarterly Balance (AQB) of the same amount has to bemaintained.Non-maintenance of required AQB will invite charges of Rs.250/- per quarter.Transaction charges will be applicable in case the specified AQB has not beenmaintained in the previous quarter. 46
  47. 47. Kids Advantage AccountChildren these days are way ahead of their times. Make sure your investmentsdon’t fall short.Now through HDFC Bank’s Kid’s Advantage Account you can ensure yourchild’s secured future and fulfill all his dreams in time. The Kid’s AdvantageAccount presents you a great way to accumulate savings for your child andprovide him the head-start required to succeed in life. It’s an account which growswith your child to meet his future monetary requirements.Features & BenefitsFor their Growing Needs  Free Education Insurance cover of Rs. 100,000!- in the event of death of the parent I guardian through vehicular accident by road, rail or air to safeguard the future of your child.  ATM/International Debit Card will be issued for children between 7-18 years of age in the child’s name with your permission. The amount your child is able to withdraw is Rs. 1,500/- at ATMs or spend Rs. 1,000/- at merchant locations.  Your child need not even search for an HDFC Bank ATM. He/she can make 3 cash withdrawal transactions from SBI/Andhra Bank ATMs per month, absolutely free.  Free Personalised cheque book for your child.  Monitor the transactions of your child’s account with the free quarterly physical statement of account or free monthly Email Statement of account.  Free NetBanking for you to monitor your child’s account. 47
  48. 48.  Free SMSIEmaiI alerts informing you about the account transactions.For their Secured Future  Opt for standing instruction to transfer any amount from your account to your Kid’s Advantage Account every month (Minimum value = Rs. 500/- & Minimum tenure = 1 year).  Once the balance in the Kid’s Advantage Account reaches/exceeds Rs. 10,000!-, the amount in excess of Rs. 5.000/- will automatically be transferred into a Fixed Deposit for 1 year I day, in your child’s name, by signing in for our sweep-out facility.  You can also opt for systematic investments in mutual funds from the Kid’s Advantage Account in your child’s name.Eligibility  Kid’s Advantage Account can be opened for your child as long as your child is a minor (up to 18 years of age) and you have a Savings Account with us.  If you do not have a HDFC Savings Account, you will need to open an account. Click here to open a HDFC Savings Account.  How to Open a Kid’s Advantage Account  Invest a minimum sum of Rs. 10,000/- in a Fixed Deposit in your child’s name for a minimum duration of 6 months and I day, with a benefit of a Zero Balance Kid’s Advantage Account. ORMaintain a minimum Average Quarterly Balance requirement of:- Rs. 5,000!- for Metro/Urban locations- Rs. 2,500!- for Semi-urban/Rural locationsPenalty for non-maintenance of Average Quarterly Balance is Rs. 300/per quarter. 48
  49. 49. CURRENT ACCOUNTA detailed and complete analysis of the product available under the CurrentAccount is given below : Current Account regular Trade max flexi Current Current Current Current apex Current premium Current plus Current 49
  50. 50. REGULAR CURRENTHDFC Bank Regular Current Account gives the facility of payable at par chequesor deposit cheque at any HDFC Bank Branch. It also facilitates FREE NEFTtransactions & FREE RTGS collections. It requires to maintain an average quarterbalance of only Rs. 10,000.Features and Benefits :  Convenient Inter-city banking  Free payment and collections through NEFT.  Free RTGS collection. RTGS payment @ Rs.100/- per transaction.  Inter-city Account accounts fund transfer between HDFC Bank accounts at a nominal charge of Rs. 15/- per transactions.  Free Demand Drafts (DD) above Rs. 1,00,000/-. Demand Drafts up to Rs. 50,000/- at flat cost of Rs. 40/-. DD above Rs. 50,000/- & up to Rs. 1,00,000/- at nominal cost of Rs.25/-.  Free Pay Order (PO) above Rs. 1,00,000/-. Pay Order up to Rs.50,000/- at flat cost of Rs.40/- POs above Rs. 50,000/- & up to Rs. 1,00,000/- at nominal cost of Rs. 25/-  Payable at par cheque book at nominal price. 50
  51. 51.  Insta Alert service without visiting the branch or ATM.  24 hour Phone Banking, Mobile Banking and Net Banking that helps to balance and transaction details.Eligibility & Documentation  Resident Individuals  Hindu Undivided Families  Sole Proprietorship Firms  Partnership Firms  Limited Companies  Trust Accounts  Association/Clubs/Societies  Foreign Institutional Investors.  Foreign national residing in India.The AQB is Rs. 10,000/- per quarter. Non maintenance of AQB is Rs. 750/-. 51
  52. 52. PREMIUM CURRENTPremium Current Account requires AQB of Rs.25,000 and offers payable at parcheque book facility & FREE inter-city clearing transactions up to Rs. 25 Lacs perannum.Features and Benefit:  Free anywhere collection & payment within HDFC Bank Branch network (except Dahej). Up to Rs.25 lacs per month, Incremental amount to be charged @ Rs. 1.50 per Rs. 1,000/-. mm Rs.25.  FREE NEFF transactions.  Free RTGS collection. RTGS payment @ Rs. 10 0/- per transaction  Inter-city Account to accounts funds transfer between HDFC Bank accounts at a nominal charge of Rs. 15/- per transactions.  Free Demand Drafts (DD) above Rs.ioo,000/-. Demand Drafts up to Rs.5o,000/- Rs.40.DD5 above Rs. 50,000/- & up to Rs. 100,000/- Rs.25/- and can be issued from any HDFC Bank Branch  Free Pay Order (P0) above Rs. 100,000/-. Pay Order up to Rs.50,000/- Rs.4o/-. Pos above Rs.5o,000/- & up to Rs. 100,000/- Rs.25/- and can be issued from any HDFC Bank Branch.  100 “At Par” cheque leaves free per month. 52
  53. 53.  InstaAlert Service  24 hour Phone Banking, Mobile Banking, Net Banking facility.Eligibility and Documentation:The following are eligible to operate a premium Account  Resident Individuals  Hindu Undivided Families  Sole Proprietorship Firms  Partnership Firms.  Limited Companies  Trust Accounts.  Associations/Clubs/Societies.  Foreign Institutional Investors.  Foreign national residing in India AQB maintenance is Rs. 25,000/-to operate this account. Non- maintenance of the AQB is Rs. 900/-. 53
  54. 54. TRADE CURRENTFrom special cheques that get treated at par with local ones in any city whereHDFC having Branch to free account to account funds transfer between HDFCBank accounts, to free inter-city clearing of up to Rs. 50 lakhs per month. TradeCurrent Account requires AQB of Rs. 40,000.Features and Benefits:  Free Account to account funds transfer between HDFC Bank accounts.  Free RTGS/NEFT transactions.  Free up to 30 Demand Draft (DD) per month and can be issued from any HDFC Bank Branch.  Free up to 30 Pay Orders (P0) per month can be issued from any HDFC Bank branch.  Free anywhere collection and payment within HDFC Bank branch network (except Dahej), up to Rs. 50 lacs per month.  Convenience to withdraw & deposit cash at all HDFC branches*  200 “At Par” cheque leaves per free month.  InstaAlert service without visiting the branches or ATM.  24- hour Phone Banking, Net Banking and Mobile Banking that helps to check balance& transaction details, status of cheque payment. 54
  55. 55. Eligibility and Documentation: The following arê eligible to operate a Trade Account  Residence individuals.  Hindu Undivided Families.  Sole Proprietorship firms.  Partnership Firms.  Limited Companies.  Trusts Account.  Associations/ Clubs / Societies.  Foreign institutional investors.  Foreign nationals residing in India. AQB maintenance is Rs. 40,000 to operate this account. Non maintenance of AQB will be charged Rs.1200/- 55
  56. 56. PLUS CURRENTHDFC Bank plus Current Account gives the power of inter-city banking with asingle account and access to more than 316 cities. Plus Current Account requiresto maintain an average quarterly balance of Rs.100,000.Features and Benefits:  Free Account to account funds transfer between HDFC Bank accounts  Free payment and collection through RTGS.  Free payment and collection using NEFT (through Net Banking)  Free up to 50 Demand Draft per month and can be issued from any  HDFC Bank Branch.  Free Up to 50 Pay Orders (PO) per month and can be issued from any HDFC Bank Branch  Free anywhere collection & payment transaction (clearing) within HDFC Bank branch network (except Dahej) up to Rs 100 lacs per month.  Convenience to withdraw & deposit cash at all our branches*  300 “At Per” cheque leaves free per month.  InstaAlert service provides updates when the select transaction happens — without visiting the branch or ATM. 56
  57. 57.  24 hour Phone Banking, Net Banking and Mobile Banking that helps to check balance & transaction details, status of cheque or stop cheque payment.Eligibility and Documentation:  Resident Individuals  Hindu Undivided Families.  Sole Proprietorship Firms.  Partnership firms.  Limited companies.  Trust Accounts.  Associations/Clubs/Societies.  Foreign Institutional Investors.  Foreign nationals residing in India. AQB charge is Rs. 1,00,000/- per quarter. (Non maintenance of which entails a charge as per the following:) When the AQB is less than 1 lath and up to Rs. 50,000/-,there is a service charge of Rs. 1,500/- per quarter. When the AQB less than Rs. 50,000/- there is a charge of Rs. 6,ooo per quarter. 57
  58. 58. Max Current AccountPresenting maximum benefits andminimum hassles for you with Max CurrentAccount! With a Rs. 5 lakhs average quarterly balance requirement, we present toyou a world of privileges that helps your business expand and grow. Features likemaximum free transaction limits including other beneficial features on this currentaccount truly enhances your business potential to the MAXImum.Features & Benefits  Maximum transactional benefits with faster mobilisation of funds  Average quarterly balance requirement of Rs. 5,00,000/-  Access to more than 750 branches  Huge cost savings in inter-city transactions for payable-at-par cheque issuance, funds transfers, NEFT, RTGS or Demand Draft / Pay Order  Faster collection of outstation cheques  Free Account to Account funds transfer between HDFC Bank accounts  Free payment and collection through RTGS  Free payment and collection using NEFT (through NetBanking)  Free Demand Drafts which can be issued from any HDFC Bank branch  Free Pay Orders which can be issued from any HDFC Bank branch 58
  59. 59.  Free anywhere collection & payment (clearing) upto Rs. 5 Crore per month within HDFC Bank branch network (except Dahej) Convenience to withdraw and deposit cash at all our branches* Free cash deposit upto Rs. 50 Lakh per month across all home branches (subject to a maximum of 50 transactions per month and a per day limit of Rs.1,00,000/- on cash deposit at a non home branch) Choice of local / Payable at Par cheques. 500 leaves free per month Register for InstaAlert service and receive updates on your account as and when the select transaction happens - all this without visiting the branch or ATM! HDFC Bank offers you Doorstep Banking*, a channel, which is convenient, secure and hassle-free. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will arrange to render the services like Cash & Cheque Pickup and Cash Delivery, through a reputed agency. Enjoy facilities like 24-hour PhoneBanking, NetBanking and MobileBanking that helps you check your balance and transaction details, find out the status of your cheque or stop cheque payment. 59
  60. 60. Eligibility & Documentation  Resident Individuals  Hindu Undivided Families  Sole Proprietorship Firms  Partnership Firms  Limited Companies  Trust Accounts  Association/Clubs/Societies All you need to do, is maintain an average balance of Rs.5,00,000/- per quarter. (Non-maintenance of which entails a charge of Rs.3000/- in case the AQB is less than Rs. 5,00,000 but greater than or equal to Rs. 2,50,000 OR Rs.8,000/- in case the AQB is less than Rs. 2,50,000/-) All fees & charges mentioned in the Tariff, Charges or Fees Brochures will attract Service Tax @ 12% & Education Cess @ 3% of the service tax amount. The same will appear as separate debits in the statements. 60
  61. 61. Apex Current AccountThe top position is always the coveted position. With the Apex current account,take your business to a new high. On maintaining an average quarterly balance ofRs. 10 lakhs, this account makes sure you make the most of every businessopportunities coming your way. Unlimited, free, anywhere Banking experience atthe APEX is reserved for you.Features & Benefits  Maximum transactional benefits with faster mobilisation of funds  Average quarterly balance requirement of Rs. 10,00,000/-  Access to more than 1229 branches  Huge cost savings in inter-city transactions for payable-at-par cheque issuance, funds transfers, NEFT, RTGS or Demand Draft / Pay Order  Faster collection of outstation cheques  Free Intercity Cheque Collection & Payments within HDFC Bank Network (excluding Dahej).  Free Account to Account funds transfer between HDFC Bank accounts.  Free payment and collection through RTGS  Free payment and collection using NEFT (through NetBanking) 61
  62. 62.  Free Demand Drafts which can be issued from any HDFC Bank branch Free Pay Orders which can be issued from any HDFC Bank branch Convenience to withdraw and deposit cash at all our branches* Free Cash Deposit upto Rs. 100 lacs per month across all home branches (subject to a maximum of 50 transactions per month and a per day limit of Rs.1,00,000/- on cash deposit at a non home branch) Choice of local / Payable at Par Cheques. 500 leaves free per month Register for InstaAlert service and receive updates on your account as and when the select transaction happens - all this without visiting the branch or ATM! HDFC Bank offers you Doorstep Banking*, a channel, which is convenient, secure and hassle-free. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will arrange to render the services like Cash & Cheque Pickup and Cash Delivery, through a reputed agency. Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile Banking that helps you check your balance and transaction details, find out the status of your cheque or stop cheque payment. 62
  63. 63. Eligibility & Documentation  Resident Individuals  Hindu Undivided Families  Sole Proprietorship Firms  Partnership Firms  Limited Companies  Trust Accounts  Association/Clubs/Societies All you need to do, is maintain an average balance of Rs.10,00,000/- per quarter. (Non-maintenance of which entails a charge of Rs.5,000/- in case the AQB is less than Rs. 10,00,000 but greater than or equal to Rs. 5,00,000 OR Rs.10,000/- in case the AQB is less than Rs. 5,00,000/-) 63
  64. 64. Flexi Current AccountTired of static transaction limits during peak seasons?HDFC Bank Flexi Current Account is the answer to your changing banking needsduring peak seasons.With HDFC Bank Flexi Current Account your Cash Deposit and AnywhereTransaction limits are a multiple of the balance you maintain in your CurrentAccount.So, during peak seasons, you get the benefit of higher transaction limits due to thehigher average balances maintained in your account.What’s more, during lean seasons, you need not bother about maintaining hugebalances to enjoy high transaction limits, which you anyway may not need.Flexi Current Account requires you to maintain a minimum Average MonthlyBalance (AMB) of just Rs. 75,000.Features & Benefits  Enjoy dynamic free limits on Intercity Payments, Collections & Funds Transfer as well as Cash Deposit at home location branches based on the AMB maintained* 64
  65. 65. For example, you maintain an AMB of Rs.2,00,000/- in a particular month. Your dynamic free transaction limits for that month would be as per the following table:Transaction Dynamic Free Limits*Cash Deposit at Home Rs. 24,00,000 in thatBranch Location particular monthAnywhere Payments, Free up to Rs.1,00,00,000/- inCollections & Funds that particular monthTransfer (except Dahej)  Pay your vendors on a real time basis using Real Time Gross Settlement (RTGS) available across 23,000 Bank Branches*. What’s more, payments and collections through RTGS are completely free!  Make and receive remittances to & from your vendors & customers across 20,000 + Bank Branches of more than 50 Banks through Net Banking using National Electronic Fund Transfer (NEFT), Absolutely Free!  Free 40 Demand Drafts & Free 40 Pay Orders issued from any HDFC Bank Branch*  Convenience to withdraw and deposit cash at all our branches*.  Competitive pricing on Demand Drafts drawn on Correspondent Banking Locations as well as Outstation Cheque Collection at HDFC Bank Locations 65
  66. 66.  InstaAlert service - receive updates on your account as and when the select transaction happens – all this without visiting the Branch or ATM!  Enjoy facilities like 24-hour Phone Banking, Net Banking and Mobile Banking that helps you check your balance and transaction details, find out the status of your cheque or stop cheque payment.  HDFC Bank offers you Doorstep Banking*, a channel, which is convenient, secure and hassle-free. Now, you can enjoy the benefits of banking right at your doorstep. The Bank will arrange to render the services like Cash & Cheque Pickup and Cash Delivery, through a reputed agency.Eligibility & Documentation  Resident Individuals  Hindu Undivided Families  Sole Proprietorship Firms  Partnership Firms  Limited Companies  Trust Accounts  Association/Clubs/SocietiesAll you need to do, is maintain an average balance of Rs.75,000/- per month.(Non-maintenance of which entails a charge of Rs.1,000/- per month) 66
  67. 67. Our range of Cards help you meet your financial objectives. So whether you arelooking to add to your buying power, conducting cashless shopping, or budgetingyour expenditure, you will find a card that suits you. Credit CardsBesides arming you with unmatched spending power, our Credit Cards aredesigned to meet your unique needs. Choose one thats tailored for you. The bestcredit cards are available here, including even the online credit cards serviceNetsafe. Classic Cards  Silver Credit Card Premium Cards  Gold Credit Card   Titanium Credit Card 67
  68. 68.  Womans Gold Card  Platinum Plus Credit Card  Visa Signature Credit Card  World MasterCard Credit Card Special Benefit Cards  Value Plus Credit Card  Health Plus Credit Card Commercial Cards  Corporate Credit Card  Business Credit Card Debit CardsWhat if you could carry your bank account with you? HDFC Bank Debit Cards give youcomplete and instant access to the money in your accounts without the risk or hassle ofcarrying cash. Choose from: Classic Cards  EasyShop International Debit Card Premium Cards  EasyShop Gold Debit Card Specialised Cards 68
  69. 69.  EasyShop International Business Debit Card  EasyShop Womans Advantage Debit Card  EasyShop NRO Debit Card  Kisan Card Prepaid CardsBesides offering convenience, our Prepaid Cards have been tailored to answer yourtravel and gifting needs.Choose the one that best answers your needs:  ForexPlus Cards Prepaid Travel Card - to manage your overseas expenses.  GiftPlus Cards Prepaid Gift Card - Gift the freedom of choice!  FoodPlus Cards Prepaid FoodPlus Card - Freedom from cumbersome meal vouchers.  MoneyPlus Card The Corporate Payment Card - Freedom from cash disbursement / administrative hassles. 69
  70. 70. A trip to Bali.A diamond ring of your wifes dreams.The motorbike your son cant stop talking about.Some dreams cant wait. Thats why you have HDFC Bank Credit Cards. If theres something youve alwayswanted, dont wait any longer to get it. Just apply for an HDFC Bank credit card. And make it happen today.You can pick one from many, each designed with a special purpose and person in mind. Lets find one which onesuits you best. Classic Cards: Our products trusted by many Silver Credit CardChoose our Internationally accepted Silver Credit Card and enter a world ofprivileges and savings. Special Benefit cards: For those with special 70
  71. 71. needs Value Plus Credit CardA true value card that enables you to avail 5% cash back on all yourpurchases. Health Plus Credit CardCashless Mediclaim, discounts at participating hospitals, extra protection foryour family. You can rest assured with the Health Plus Credit Card.Premium Cards: Access world-class privilegesand benefits Gold Credit CardA card to match your premium lifestyle with features like special offers on airand train ticketing, assured 50% discounts on hotel tariffs, and rewardsredemption against air miles. Titanium Credit Card 71
  72. 72. Limited Edition card with 24X7 concierge services, zero surcharge on fuel andaccelerated two-tier rewards programme. Womans Gold CardEnjoy the benefits of the best premium card made specifically for women.Apply for HDFC Bank Womans Gold credit card. Platinum Plus Credit CardIndias only Platinum Credit Card with exclusive travel and preferentialbenefits - a recognition of those who have "arrived in life". Enjoy a world ofexclusive privileges on your HDFC Bank Platinum Plus Credit Card. Visa Signature Credit CardA card for the rarest of the rare A card with unique and exclusive privilegesthat complement your refinement and style. Come experience the world ofmany contended moments. World MasterCardHDFC Bank presents Indias First World MasterCard Credit Card - A verypremium offering for the truly elite, a card with tailor-made premium 72
  73. 73. privileges that complement a discerning lifestyle. Eligibility CriteriaYou are eligible for a HDFC Bank International Silver Credit Card ifyou are: Salaried Self EmployedMinimum Age 21 21Maximum Age 60 65Annual Income (Rs.) Rs. 200,000/- p.a. Rs. 150,000/- p.a. 73
  74. 74. Still carrying an ATM Card? Discover the power and convenience of our Debit Cardsthat not only let you withdraw cash from ATMs but also let you shop cashless andhassle-free. EasyShop International Debit CardUpgrade your ATM card to a Visa or Maestro Debit Card. Use it to shop atthousands of establishments and earn fabulous discounts. EasyShop International Gold Debit CardEnjoy the power of Gold. Enjoy Cash Back, Zero Surcharge at Petrol Pumps,Increased Insurance cover, and Special Offers at Premium Outlets. EasyShop International Business Debit Card 74
  75. 75. A Debit Card specially designed keeping in mind your needs and the needs ofyour business. This Card combines business benefits with shopping delight. EasyShop Womans Advantage Debit CardHDFC Bank EasyShop Womans Advantage Debit Card is Indias firstWomans Debit Card of its kind. Not only does it replace your ATM card, italso opens a world of privileges that match your status and lifestyle. EasyShop NRO Debit CardYour HDFC Bank EasyShop NRO Debit Card brings to you a world ofconvenience. Kisan CardA Debit card specially designed for farmers, to meet their production andinvestment requirements conveniently. 75
  76. 76. DEBIT CARD :Classic Cards : Easy Shop International Debit Card  Daily Limits: Rs. 15000 at ATMs for Withdrawal and Rs. 25000 at merchant establishments for shopping  Access your bank account at over 8,00,000 Visa/Maestro/Cirrus ATMs in India and abroad.  0 % petrol surcharge at select BPCL Petrol pumps*: As a Debit Card holder, any surcharge levied on your Card at select BPCL petrol pumps would be reversed in the subsequent month. Click here for more details.  Shop at more than 3,50,000 outlets in India and 13 million worldwide. The amount is debited directly to your account.  Use your card overseas. Your account is debited in Rupees regardless of the currency in which you spend.  Zero Liability on fraudulent Point Of Sale usage on lost or stolen cards. Click here for more details. 76
  77. 77.  Now get an Alert on your mobile phone or email for every purchase transaction done using your Debit Card at a merchant outlet !! All you need to do is register for Insta Alerts!  Worldwide assistance from Visa and MasterCard on your card.HDFC Bank EasyShop Gold Debit Card not only replaces your ATM / RegularDebit Card, it also opens a world of privileges that match your status and lifestyle.Premium Card :Easy Shop International Gold Debit Card  Daily Limits: Rs. 25,000 at ATMs for Withdrawal and Rs. 50,000 at merchant establishments for shopping.  Cash Back*: For every Rs. 100 that you will spend, you will receive Re. 1 as cash back. This cash back is valid on all purchases made through the card, at all times of the year!!!  0 % petrol surcharge at Petrol pumps.  Zero Liability on fraudulent Point of sale usage on lost or stolen cards 77
  78. 78.  POS Alerts  Insurance cover  Exclusive offers at premium outlets in association with Visa a nd MasterCardSpecialised CardEasy Shop International Business Debit CardEasy Shop Woman’s Advantage Debit CardKisan Card 78
  79. 79. Because its smarter to pay first and spend later.HDFC bank presents prepaid cards.Like the name suggests, a prepaid credit card requires you to pay first and uselater. And youll never have to worry about over-spending again! GiftPlus CardA pre-paid gift card designed to give your loved ones the freedom to buy the giftof their choice. FoodPlus CardPrepaid FoodPlus Card - Freedom from cumbersome meal vouchers. MoneyPlus CardThe Corporate Payment Card - Freedom from cash disbursement / administrativehassles. 79
  80. 80. Womans Gold CardEnjoy the benefits of the best premium card made specifically for women. Apply forHDFC Bank Womans Gold credit card. Platinum Plus Credit CardIndias only Platinum Credit Card with exclusive travel and preferential benefits -a recognition of those who have "arrived in life". Enjoy a world of exclusiveprivileges on your HDFC Bank Platinum Plus Credit Card. Visa Signature Credit CardA card for the rarest of the rare A card with unique and exclusive privileges thatcomplement your refinement and style. Come experience the world of many contendedmoments. World MasterCardHDFC Bank presents Indias First World MasterCard Credit Card - A very premiumoffering for the truly elite, a card with tailor-made premium privileges that complement adiscerning lifestyle. 80
  81. 81. 81
  82. 82. COMPARATIVE ANALYSIS OF HDFC BANK CURRENT & SAVING ACCOUNT WITH OTHER BANK “We Understand Different People Have Different Needs” 82
  83. 83. OBJECTIVEThe main objective of this project report is to make an analytical study of HDFCBank it includes: • History of the Bank • Product Analysis • Services • Bank’s Accounts • Comparison of the current & saving accounts with other leading Bank’s of IndiaThe purpose of the study is to find out the market potential of current & SavingsAccount as compared to other bank accounts. HDFC Bank is interested in findingout the sales potential of its current & Savings Account as compare to other banks.Specifically, the research objectives are to: • Gauge the consumer sentiment on the various services provided by the various banks in the city. • Identify areas of improvement on the various services provided by the bank • Determine the type of services needed by the consumers. • Identify the important and attractive attributes in services to retain the existing consumers. 83
  84. 84. • Determine the type of banking parameters most popular with the consumer. • Identify the important characteristics that make the bank attractive to open a current and savings account. • Gather and analyze the future aspirations of the customers with respect to the current & savings account. PROCESS/METHODOLOGY OF STUDYBank basically means business and in business collection of raw data allows themanagers to sce the real scenario and then take a decision as per the data obtained.There are several implications in this statement: • The bank gets a clear picture of the current & Savings Account scenario. • They can examine the available information in the form of data to make a decision • They can even get a clear picture of the scenario or potential of the current & Savings Account of their banks in comparison to other banks. • This will help the bank in making any decision. • The information can only be gathered by data collection and then analyzing the available data. Therefore, it can be said that the data collection is an important part of the project. Data Information Raw numbers 84
  85. 85. The projected objectives were considered and as per therequirement a market survey was done.PROCESS:The procedure that followed can be enlisted as below: • Reading about the product • Deciding on the objective to proceed. • Developing Survey instruments • Conducting personal interviews of different age ,groups sex Monthly income and occupation. • Finally analyzing the data of various areas and trying to study with the other banks.PROCESS ADOPTED:1. Gaining knowledge about the product: Reading about the product was the first step undertaken. This gave not onlyin depth knowledge about what is been offered by the bank but also proved usefulwhile developing the questionnaire.2. Steps in the Development of the Survey Instruments 85
  86. 86. The main instruments required for survey was a well-developedquestionnaire. The questionnaire development took place in a series of steps asdescribed below: 86
  87. 87. Research objectives are being transformed intoStep 1 information objective The Appropriate data collection methods haveStep 2 been determined The information required by each objective isStep 3 being determined Specific Questions/Scale Measurement format isStep 4 developed Question/Scale Measurements is being evaluatedStep 5 Research objectives are being transformed intoStep 6 information objective 87
  88. 88. The number of information needed is being Step 7 determined The questionnaire and layout is being evaluated Step 8 Revise the questionnaire layout if needed Step 9 The questionnaire format is being finalized Step 103. Customer Survey:The people play an important part as a clear perception of people about theproduct can be estimated and known. Studying the need levels of the peopleregarding the banking product can be observed. It was very useful in knowingabout the requirements of the people. 88
  89. 89. 4. Referred to brochures and websites of competitors:To understand the competitors product brochures and websites of various bankswere referred and a competitive analogy of all the rates and necessary features ofthe current & Savings account is been made. The table is been attached in theAppendix.RESEARCH DESIGN:A two stage Research was conducted:1. Secondary Research: Data was collected from websites and catalogues to understand the product and the charges of the different bank2. Primary Research:A Primary Research was conducted:The questionnaire was prepared for the companies and following areas covered:  Competing Banks  Features offered by different banks  Consumer profile  Satisfaction level with the current bank  Reason for the selection of specific Bank  Desirable features of the product 89
  90. 90. SAMPLING DESIGN:Elements: I had selected samples including men and women from different partsof Varanasi.Sample size: 300 people.Primary Data:The data collection was primarily done through communication. Communicationinvolves questioning respondents to secure the desired information, using a datacollection instrument called questionnaire. The questions were in writing and sowere the responses. LimitationsThere was difficulties/obstacle faced during the initial part of the project, whichwere however overcome successfully. To list: 1. It was difficult to break the ice with the common people initially. It was a daunting task to convince them to fill in the personal details of the questionnaire where they have to mention the monthly income, occupation and minimum amount in their current & Savings Account. 2. To convince the people for a proper interviewing process is also difficult. 3. The competitor analysis in the manual could only be compiled for a rough idea to the nature of the product. The product features and charges keep o changing on a frequent basis. 90
  91. 91. Compilation of data on competitor analysis was difficult due to non- availability of correct information APPENDIXQuestionnaire:This is a kind of market research, (comparative analysis of banks) and I needyour cooperation in the form of some of your personal information to makethe research more efficient and it would be my pleasure to have yourvaluable cooperation.Personal details:Name:………………………………………. Age……………………………...Gender: Male FemaleOccupation: Govt. Service Private Service Businessman Professional (Doctor, Teacher etc)Firm’s name. If any……………………………………………Location………………………………………Monthly Income: Below 300,000 30,000-45,000 45,000-60,000 0 above 60,000 91
  92. 92. Contact No……………………………… 92
  93. 93. Observation (please put for the most appropriate opinion)1. In which bank you have account? HDFC ICICI ING Vysya Kotak Mahindra 11DBI Any other (…………………..) Please specify2. Are you satisfied with the service provided by your bank? Yes No can’t say3. What is the worst feature of your current bank according to you? Extra charges Lack of branches Employee’s attitude Less banking hours4. Average minimum balance maintained in your savings A/c? Below 10,000 10,000-15,000 15,000-2o,000 above 20,0005. Average minimum balance maintained in your current account? Below 15,000 0 15,000-25,000 25,000-40,000 Above 1,00,0006. Which facility do you consider the most important while opening an A/c? Convenience/location Banking hours Quality of service Less AQB* 93
  94. 94. 7. Which is the most preferred method of banking transaction? Over the counter ATM Internet / phone banking Doorstep service8. Your preferred method of making payments? Cash Cheque Fund transfer Demand draft.9. Investment in Bank is profitable. Yes No Cant say THANK YOU VERYMUCH FOR TIME AND COOPERATION! 94
  95. 95. FINDING AND ANALYSISTo show my finding and analysis which I have done with the help of internet,questionnaire and personal interview with the bank employees and also with theaccount holders in various branches. ANALYSISGeneral Analysis:In general it is seen that people are satisfied with the services of the bank. Veryfew are not satisfied with the banking services provided by their bank. Satisfaction of people 100 80 60 40 20 0 Yes No Cant SayAfter examining the minimum balance 1 find that in general people maintain abalance of greater than Rs.2o, 000 in Saving account and greater than 1,00,000 incase of Current account. So the company’s policy of maintaining an AQB does notaffect the customer base of the bank. 95
  96. 96. Minimum Balance maintained in a Savings Account 50 40 30 20 10 0 <10,000 10,000-15,000 15,000-20,000 >20,000 Minimum Balance maintained in Current Account 50 40 30 20 10 0 <15,000 15,000- 40,000- >1,00,000 40,000 1,00,000 96
  97. 97. People in general look for quality service from bank and then for a nearbylocation. AQB plays a minimum role in the entire process of selecting bank. Important factors for Account 7% 35% Convenience Banking Hours Quality of Service 38% Less AOB 20%The banking services that are availed by the people at large are ATM. Even withup gradation of technology people prefer using Internet / Phone banking. Doorstepservice has minimum effect, as people do not rely on handing their money topeople rather they feel much more secured in transacting or transferring theirmoney through any Internet media. 97
  98. 98. 50 40 30 20 10 0 Over the counter ATM Internet/Phone Doorstep BankingPeople in general do not like doing money transactions in Cash, as it is not as safeas also sometimes there are problems with the notes. Majority of people preferCheques, Demand draft has its own customer, and Electronic fund transfer issteadily becoming popular. Money Transactions 21% 18% Case Cheque Demand Draft 21% Fund transfer 40% 98
  99. 99. SATISFACTION LEVEL:In market biggest competitor of HDFC bank is 1CICI bank and after examiningthe data I find that the satisfaction level of HDFC Bank is comparatively lowerthan the ICICI Bank customers of IDBI, Kotak Mahindra and other banks are alsosatisfied at much extent. SATISFACTION LEVEL 40 35 30 25 20 15 10 5 0 HDFC ICICI IDBI KOTAK OTHER MAHINDRA BANKSThe reason that people give for their dissatisfaction with HDFC Bank isrepresented in the graph below:I find that the major reasons for dissatisfaction among the people are due to Lackof branches since ICICI have more branches than HDFC, however majority ofpeople are dissatisfied with extra charges of ICICI which can be spare by HDFC, 99
  100. 100. to remain in the competition the bank should also take some steps to open newbranches so that it can compete with ICICI which is the market leader with themaximum customer base. 20% Lack of branches 40% Less banking hours Extra charges 15% Employees attitued 25%The ICICI bank has a customer base of even larger than all the private banks in thecity. HDFC bank has an impressive customer base after ICICI bank. 100
  101. 101. Bank Preference 24% HDFC 25% ICICI KOTAK MAHINDRA 5% IDBI ING VYSYA 11% 28% OTHER BANKS 7%Age:First of all on examining the data segment-wise:I find that people at large maintain a balance of greater than Rs.io, 000 in theirsavings account. Only people in the age —group of 36-45 prefer keeping theirmoney less in savings account. Why is it so? The most probable reason might bethat people of this age group prefer to invest their money in various insuranceschemes or mutual funds. In the Age group of 26-35 people have lesserresponsibility so they prefer to keep their money in Savings Account. 101

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