This report analyzes customer satisfaction with banking deposit products from State Bank of India (SBI). The report includes an introduction on the importance of customer satisfaction. It then outlines the objectives, research methodology, scope and limitations of the study. Key findings from data analysis include that most customers are satisfied with SBI's services and prefer its low interest rates and longer repayment periods. Suggestions for SBI include improving customer awareness, disclosing any hidden fees, and focusing more on retaining existing customers through better customer service.

1. SYNOPSIS OF THE IIP
REPORT
ON THE TOPIC:
“A STUDY ON CUSTOMER
SATISFACTION OF
BANKING DEPOSIT
PRODUCTS
On the job Title:
Marketing of current
account products
BY,
I.Sri priya

2. CONTENTS:
• Introduction
• Industry profile
• Company Profile
• Literature review
• Research objectives
• Research Methodology
• Significance and scope
• Limitations
• Data analysis
• Findings & Suggestions

3. Introduction:
• Good service and customer satisfaction are very important for companies
for both small and big companies.
• Today competition between companies is growing all the time and hence
good service is becoming more and more important.
• When a company manages to serve its customers well enough and make
them happy company can create long-term customer relationships and
possibly get free marketing.
• Satisfied customers have a positive impact on the company’s results, so it
is important and interesting to investigate this impact
• When measuring customer satisfaction it is possible to get useful
information of the company customers and the results can be used to
improve the company and its services

4. Objectives:
• To find out the reasons for using of banking deposit products of SBI.
• To find out the services of other banks offering to their customer.
• To know how customers feel about the services provided by SBI.
• To know the features liked by the customers which are provided by SBI.
• To find out the customer awareness on banking deposit products market
and to find out the using patterns of the people
• To make the customer aware of the benefits of the product and convince
him/her to go for SBI banking deposit products.
• To know about the customer satisfaction level with relationship to
demographics using chi square test.

5. Research Methodology:
Research methodology is a methodology for collecting all sorts of
information & data pertaining to the subject in question. The objective is to
examine all the issues involved. The methodology includes the sampling
procedure & fieldwork done & finally the analysis procedure. The primary
data has been collected with the help of questionnaire. The questionnaire has
been drafted & presented by the me.
•Sample Size: Sample of 100 people was taken into study, and their data was
collected
•Data Collection: Collection of data is done by primary data through
Questionnaire i.e., Primary data was collected through Questionnaire.
•Data Analysis: After data collection, analysis on customer’s views, ideas and
opinions related to the Products was done which would help SBI to
understand customer requirements.

6. Scope:
•Consumer perception towards banking deposit products.
•Customer view towards current accounts.
•Consumer awareness about banking deposit products scheme and its benefit.
•Aware the Bank about the customer problems.
Limitations:
•The time period is restricted to 30 days
•My internship is restricted to 3 branches of SBI only.
•I was asked to do marketing for a limited area that is in and around kukatpally.
•Timings for collecting the information from the enterprises was very limited i.e.
3pm to 5pm
• Most of the enterprise owners were not available at the time of my survey, and
workers are not aware about the information related to current accounts.
•Enterprises were not shown interest in sharing their current account availability
information.

7. Industry profile:
• Banks are financial intermediaries that accepts deposits and channels those
deposits into lending activities, either directly by loaning or indirectly
through capital markets.
• A bank links together customers that have capital deficits and customers
with capital surpluses.
• Indian Banking Industry currently employees 1,175,149 employees
• Total of 109,811 branches in India and 171 branches abroad.
• The net profit of the banks operating in India was 1027.51 billion (US$17
billion or €13 billion) for the financial year 2012-13.
Company profile:
•State Bank of India is the largest and one of the oldest commercial bank in India,
in existence for more than 200 years. The bank provides a full range of corporate,
commercial and retail banking services in India.
•State Bank of India is a multinational banking and financial services company
based in India. It is a government-owned corporation with its headquarters in
Mumbai, Maharashtra.
•The State Bank of India was named the 29th most reputed company in the world
according to Forbes 2009 rankings and was the only bank featured in the "top 10
brands of India“.

8. Literature review on customer satisfaction:
Customer satisfaction, as a construct, has been fundamental to
marketing for over three decades.
•In the early 1960, Keith (1960) defined marketing as “satisfying
the needs and desires of the consumer”.
•Hunt (1982) reported that by the 1970s, interest in customer
satisfaction had increase to such an extent that over 500 studies
were published.
•This trend continued and by 1992, Peterson and Wilson estimated
the amount of academic and trade articles on customer satisfaction
to be over 15,000.

9. • Several studies have shown that it costs about five times to gain a
new customer as it does to keep an existing customer (Naumann,
1995) and this result into more interest in customer relationships.
• Thus, several companies are adopting customer satisfaction as their
operational goal with a carefully designed framework.
• Hill and Alexander (2000) wrote in their book that “companies now
have big investment in database marketing, relationship management
and customer planning to move closer to their customers”.
• Jones and Sasser (1995) wrote that “achieving customer satisfaction
is the main goal for most service firms today”.

10. Data analysis:
• It is found that 60% of correspondents are using the service of SBI for
their daily transaction.
• 85% of the respondents have the idea about the product & services of
SBI.
• 55% of people said that the service provide by SBI is good & 43% said
it is excellent & just 2% of people said that it is satisfactory.
• The features liked by most of the customers are less paper work,
Attractive interest rates, Transparency, simple and fast processing,
longer repayment period.

11. • From the analysis part it can be conclude that customers have a good
respond towards SBI products. SBI is in 1st position having large
number of customers & providing good services to them.
• The bank has a wide customer base, so the bank should concentrate
on this to retain these customers. In present scenario SBI is the best
banking service provider in India.
• Within a very short period of time the achievement made by SBI is
remarkable. It happens due to employee dedication towards the
organization, fastest growing Indian economy, & brand image.
• Apart from all the above, SBI believe in providing good customer
services to their customers which is a key factor for success in future.

12. Findings:
• From this project it is found that SBI deposit products are having the 1st place
in the market, there is a great opportunity to compete with ICICI Bank & to
retain its customer by fulfilling the requirement of customer in SBI banking
deposit products.
• It has been found that approximately 85% correspondents are using products
of SBI and 15% are not using any type of products of SBI.
• All of SBI customers are satisfied with the services provided by the bank.
• Many of these customers satisfied with the low interest rate and longer
repayment period of the products.
• Most of the customers prefer to take loan from SBI.
• Approximately 43% of users said that the service of SBI in banking deposit
products is excellent.
• A response from customer care is so clear & good.
• Many customers have no time to call customer care so that they are not able
to know about the service & features of SBI products.
• Most customers are shifted from other banks to SBI because of hidden
charges, waiting hours are more, banks are always crowded etc.

13. Suggestions:
• Customer awareness programme is required to attract more customers
towards the products.
• If there are any kind of hidden charges than that must disclose to customer
before giving loan to them.
• SBI must speed up the process of granting loans to the customers, verify
whether the loan reached the customer in time.
• SBI should verify the proof of identity of the customer directly rather than
phone verification (verifying the proof on phone) as the former process
eliminates the risk of cheating or fraud.

14. • Customers should be provided with correct information before opening an
account which will not further give any complications.
• SBI customer care should take necessary steps in settling the customer
problems.
• Before deducting or charging any monetary charges SBI must inform prior
customer.
• Agents should be well trained to explain people about different products.
• Special scheme should be implemented to encourage both customer and
agents.
• SBI should more focus on retaining existing customers.
• SBI must take feedbacks of customers regarding features & services

15. Bibliography:
• Industry profile [internet].Available from: www.sbi.com
[Accessed 1 July 2014].
• Company profile [internet].Available from: www.sbi.co.in
[Accessed 1 July 2014].
• Literature review [internet].Available from:
http://scholar.google.co.in[Accessed 2 July 2014.]