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INTRODUCTION TO THE PROJECT

As a part of curriculum the students of MBA have to undergo Summer Internship Program (SIP). Wherein a student gets the knowledge about practical life, how the work is done in companies, how to get acquainted with working conditions and other many such things, etc. The main aim behind this program is that students get some experience with which they can get assistance while searching the job. This program is generally provided by a company and it lasts for at least two months. Students as per their specializations could apply for SIP and get the opportunity to work in a company, which the college suggests. As a management student I also have to undergo SIP. I got the opportunity to complete this program in AXIS BANK LTD., for nearly two months. Axis bank is one of the leading BANKS in banking sector in India.Our training started with the session of information about bank product,what is the meaning of the concepts, importance of sales and marketing. The objective of the project is The Comparison Between The Saving HDFC Bank. The methodology involved in this research work consists of interacting people through surveys to know about their views of their respective banks, tele communication with the AXIS BANK customers and a group work to prepare the questionnaire. Account Products Of AXIS Bank and

Hold Statement Passbook issuance*

Rs. 400 per year Free

Duplicate passbook issuance* Rs 100/DD request through Branch Rs. 50 Rs. 40 (Senior Citizens / Individuals in Upto Rs. 10,000 Rural areas) Rs. 30 through Phonebanking Rs. 75 (Rs. 30 through Phonebanking) Rs. 60 (Senior Citizens / Individuals in Above Rs.10,000 Rural areas) & upto Rs. 50,000 **Only DD amount upto Rs 100,000 for Preferred & Rs 50,000 for other customers accepted at Phonebanking Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations Above Rs. 50,000 & upto Rs. 1 Lakh Above Rs. 1 Lakh Rs. 2.50 per 1000 or part thereof (Min Rs. 150) Rs. 2 per 1000 or part thereof (Max Rs 10,000/-) Rs .30+(Corr. Bank charges if applicable)

DD request through Netbanking Upto Rs. 1 Lakh

Third party DD* Rs .30+(Corr. Bank charges if upto Rs. 1 Lakhs applicable) (*Third Party Registration required.Customers registered for Third Party Transfers have a maximum limit of 10 lacs per cust id and hence can issue multiple DDs of 1 lacs upto 10 lacs and send it to the beneficiary address)

Managers Cheque/Demand Drafts - Cancellation / Revalidation

Rs. 50 Rs. 40 (Senior Citizens / Individuals in Rural areas) Rs. 50 plus charges as outlined below: Upto Rs. 500 Above Rs. 500 to Rs. 1000 Rs. 10 Rs. 15

Demand Drafts- Issued - On Non HDFC Bank Locations

Above Rs. 1000 to Rs. 25 Rs. 5000 Above Rs. 5000 to Rs. 30 Rs. 10,000 Above Rs. 10,000 to Rs. 1 Lakh Above Rs. 1 Lakh Rs. 3 per 1000 or part thereof Rs. 6 per 1000 or part thereof (Min Rs 300 - to Max Rs 10,000/-)

Cheque Collection - Local Clearing Zone

Free Charges for cheques drawn on Branch locations Regular Savings Account "Rs. 50/-, Rs. 40/- for Rural branches" Rs. 100/Rs. 150/-

Collection of outstation cheques - our bank locations

Upto Rs 10,000 Rs. 10,000/- to Rs. 1,00,000/Rs. 1,00,001/- and above

Photo Attestation Signature Attestation

Rs. 50 Rs. 50 Rs. 40 (Senior Citizens / Individuals in Rural areas)

Address Confirmation Stop Payment Charges Cheque status per instance Standing Instructions Unarranged overdraft Old records/copy of paid cheques Activation of dormant account

Rs. 50 Particular Cheque - Rs. 50 (Free through Phonebanking), Range of Cheques - Rs. 100 (Free through Phonebanking) Rs. 25 Setting up Rs. 150, Rs. 25 per transcation plus remittance charge Rs. 100 per occasion + 18% interest pa Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100 per record No charges Free

Branch transactions

3 free in the qtr & Rs. 60 per additional transaction on nonmaintenance of Min balance (cash deposit/withdrawal) 5 cash transactions at branch will be allowed free per month. Every additional transaction will be charged @ Rs 100 per transaction effective 1st July 2010

Cash transactions

Interbranch transactions through teller counters Funds Transfer

Free

Interbranch transactions Upto Rs. 50,000/- free per day, Above Rs. 50,000/- Rs 2.90 through teller counters - Cash per 1,000/- on the full amount. transactions. Third party cash transactions at non-home branches through teller counters Upto a limit of Rs.50,000 per day - Rs.100 (plus taxes). Above Rs.50,000 - Not allowed

Third party cash transactions at home branch through teller Free of charge counters Local Cheque deposited for No Charge

outstation accounts Phone banking - IVR Free Free Phone banking - Non IVR Rs. 50 per call on non maintenance of Min balance for transactions that are available on IVR but are done through the Phone Banking executive Free Rs. 100 (plus taxes) Balance enquiry - Free Cash withdrawal - 5 free cash withdrawal transaction per month at Non-HDFC Bank ATM. Additional transaction done at Non-HDFC Bank ATM - Rs 20/- per transaction. Per transaction limit will be Rs 10,000/-

ATM Card ATM Card - Replacement charges

ATM Card - Transaction charge for Partner banks SBI & Andhra Bank

ATM Card - Transaction NA charge for Non-Partner banks Debit Card - Annual Fee Regular Debit Card - Annual Fee Gold Debit Card - Annual Fee Women's Card Debit Card - Renewal Fee Regular Debit Card - Renewal Fee Gold Debit Card - Renewal Fee Women's Card Debit Card - Replacement Rs. 100 per year (plus taxes) Rs. 500 per year (plus taxes) Rs.100 per year (plus taxes) Rs. 100 per year (plus taxes) Rs. 500 per year (plus taxes) Rs.100 per year (plus taxes) Replacement of a damaged card - No charges &

charges Debit Card - Transaction Charge - HDFC Bank ATMs

Replacement of a lost card - Rs. 100 (plus taxes) (for all card types) Free Balance enquiry - Free Cash withdrawal - 5 free cash withdrawal transaction per month at Non-HDFC Bank ATM. Additional transaction done at Non-HDFC Bank ATM - Rs 20/- per transaction Per transaction limit will be Rs 10,000/Rs. 15 per balance enquiry & Rs. 110 per cash withdrawal (plus taxes) Rs. 25 (plus taxes) Transactions declined at other Bank ATMs anywhere in the world or at a Merchant outlet outside India due to insufficient funds will be charged at Rs. 25 per transaction (plus taxes) Rs. 100 per year (plus taxes) - One add-on card free for the first year Rs. 500 per year (plus taxes) Rs.100 per year (plus taxes) Rs. 25 (plus taxes) per qtr per Customer ID Rs. 10 (plus taxes) per transaction Free Rs. 20 (plus taxes) per transaction NIL Upto Rs. 1 lac. - Rs. 5 (inclusive of taxes) per transaction

Debit Card - Transaction Charge - Non HDFC Bank Domestic ATMs

Debit Card - Transaction Charge - Non HDFC Bank International ATMs PIN regeneration charge Decline charge for insufficient balance

Add-on Debit Card - Regular Add-on Debit Card - Gold Card Add-on Debit Card Women's Card BillPay InstaPay InstaAlert Visa Money Transfer NEFT Charges - Inward NEFT Charges- outward

Rs. 1 lac and above - Rs. 25 (inclusive of taxes) per transaction Customers having NSBL*A/c - Rs 20/Customers having Non-NSBL* A/c: NEFT Charges for Indo Nepal Upto Rs 5,000 - Rs 70/transactions Above Rs 5,000 - Rs 95/* Nepal State Bank Ltd Through Branch Rs.1,00,000 to Rs.5,00,000 -Rs.25/-, Rs.5,00,000 and above - Rs. 50/Through Netbanking:Rs. 25 (inclusive of taxes) per transaction NIL NIL Free Rs 200 (plus taxes)

RTGS - Outward

RTGS - Inward Mobilebanking Netbanking ECS (Debit) Return Charges

RESEARCH METHODOLOGY
PROCESS/METHODOLOGY OF STUDY
Bank basically means business and in business collection of raw data allows the managers to see 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 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 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 Raw numbers Information

The projected objectives were considered and as per the requirement a market survey was done. Procedure: 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 only in depth knowledge about what is been offered by the bank but also proved useful while developing the questionnaire. 2. Steps in the Development of the Survey Instruments The main instruments required for survey was a well-developed questionnaire. The questionnaire development took place in a series of steps as described below: Research objectives are being transformed into information objectives. The Appropriate data collection methods have been determined The information required by each objective is being determined. Specific Questions/Scale Measurement format is developed. Question/Scale Measurements is being evaluated.

The number of information needed is being determined.

The questionnaire and layout is being evaluated. Revise the questionnaire layout if needed. The Questionnaire format is being finalized. 3. Customer Survey: The people play an important part as a clear perception of people about the product can be estimated and known. Studying the need levels of the people regarding the banking product can be observed. It was very useful in knowing about the requirements of the people. 4. Referred to brochures and websites of competitors: To understand the competitors product brochures and websites of various banks were referred

and a competitive analogy of all the rates and necessary features of the Savings account is been made.

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 bank 2. 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 Sampling Plan: Elements: The target population of the study included the general population above the age of 18 yrs Sample area: Lucknow Sample size: 100 people.

DATA COLLECTIONS
Data Collection Plan: The first of Research consisted of secondary data search from the following sources: Catalogues Websites In this, information about different banks, different features the banks are offering to employees under salary accounts and general market standing of different banks were collected. For the conclusive research, questionnaires were developed on the basis of secondary data to gather information on the research objective. A pilot study was conducted to test these questionnaires. In this sample of 10 people was picked up from the target population on convenience basis, so as to determine the limitation and deficiencies in the questionnaires. The final draft of the questionnaire (see Appendix) was then prepared on the basis of the observations from the pilot study. These were then finally filled by 100 consumers, for the conclusive study. Finally the data collected was fed into the data analysis software- SPSS, to be analyzed using statistical techniques like: frequencies, means etc. Types of Primary Data collected: Demographic /Socioeconomic Characteristics: Demographic and socioeconomic characteristics are sometimes called states of being in that they represent the type of people. The factors on which we are working are age, sex and occupation. Monthly income is also an important parameter but it is difficult to verify. Although the amount of money that an individual earns in a month is an absolute, not a relative quantity but it is a sensitive topic in our society and it is difficult to determine.

Attitudes/Opinions: Through the questionnaire we have tried to get hold of individuals preference, inclination and requirement from the products that the bank delivers to its customer. Attitude is an important notion in the marketing literature, since it is generally thought that the attitudes are related to the behaviour of individual. Awareness/Knowledge: They are used in marketing research refers to what respondents do or do not know about the product. For instance, here we have tried to find out the market awareness regarding the new product of the bank Intentions: A persons intentions refer to the individuals anticipated or planned behaviour. We have tried to find out through the collected primary data the intentions of the people in general about the product called Savings account. In this project we have segregated the people as per their intentions about the Savings Account of Axis bank. The intentions gathered are divided into the following groups: 1. Definitely would like to bank with axis bank 2. Probably would like to bank with axis bank 3. Undecided 4. Probably would not like to bank with axis bank 5. Definitely would not like to bank with axis bank Motivation: Through the questionnaire we have tried to find the hidden need or want of an individual and have tried to find if these people can be tapped as the potential customer for Axis Bank.

Behaviour: Behaviour concerns what subjects have done or are doing. Through the questionnaire we have tried to find out the behaviour of the individuals regarding the product and their responses. If the responses are favourable then the person can be said to be our potential customer. The primary data serves as an important tool to measure the behavioral trend of the customer. It helps in answering few vital questions like: How much an individual would keep in his/her Savings Account? When would he like to open an account? Where would an individual like to open an Account? What is he looking for in an Account? Thus, it helps to draw a comparison between the Purchase and the bserved behaviour of the individuals. Obtaining the Primary Data: The data collection was primarily done through communication.

Communication involves questioning respondents to secure the desired information, using a data collection instrument called questionnaire. The questions were in writing and so were the responses.
Communication

Degree of structureStructured

Degree of disguiseUndisguised

Method of AdministrationPersonal Interview

Versatility: It is the ability of a technique to collect the information on the many types of primary data of interest to marketers. It has also been found that some of the people do not answer truthfully to all the questions especially in the case of the personal details.

Limitations
There was difficulties/obstacle faced during the initial part of the project, which were 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 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. 4. Compilation of data on competitor analysis was difficult due to nonavailability of correct information. 5. Respondent does not fill the questionnaire seriously. 6. They do not give accurate answer of the question. 7. Many customers hide the information then analysis is very difficult. 8. If scaling techniques are used then they are not give right answer. 9. Sometimes, some respondents do not answer the question to the point, which creates difficulty in further evaluation of the project. 10. Many respondents answer the question indirectly. 11. In complete answers, where there from the respondents side which, creates problem in the evaluation. 12. It was very difficult to know deeply about the brand preferences by the customer.

COMPARATIVE ANALYSIS OF SAVING ACCOUNT PRODUCTS OF AXIS BANK WITH HDFC BANK Comparison Chart
Comparison of Saving Account fees & charges of AXIS Bank with HDFC Bank
Description of charges Minimum Balance (Average Quarterly Balance Axis Bank Rs. 5000/(Metro/Urban) Rs. 2500/(semi/urban) Rs. 1000/- (Rural) Free - 20 Cheque Leaves per Qtr. Saving Account above 1 cheque book per quarter Rs. 50/HDFC Bank Rs. 10000 (Metro/Urban) Rs. 5000/(semi/urban) Rs. 2500/- (Rural) Free - 25 Cheque Leaves per Qtr. Saving Account above 1 cheque book per quarter Rs. 50/- per cheque book & Rs. 5/- per leave on non maintenance of minimum balance Account Statement Free monthly statement to be call from branch Quarterly statement sent by post Rs. 100/- at branch, Rs. 50/- per statement through phone banking (non-IVR) & ATM, Rs. 30/- per statement through net banking, phone banking (IVR) & mobile banking Metro/urban branch (( AQB less than Rs.

Cheque Book

Account Statement

Rs. 50/- for monthly & Quarterly statement

Adhoc statement

Rs. 50/- per statement

Charges on non maintenance there of

Metro/ urban branch ( AQB less than Rs.

metro/urban branch

Demand Draft

5000/-) - Rs. 750/per quarter semi-urban branch (AQB less than Rs. 2500/-) - Rs. 750/per quarter Rural branch semiurban branch (AQB less than Rs. 1000/-) Rs. 500/- per quarter Drawn On Axis Bank Center Rs. 2.50/Rs. 1000 Or Part there of (min Rs. 50/- max Rs. 10000/-) Drawn on other center Rs. 2.50/ Rs 1,000 (Min Rs. 50/-)

10000/-) - Rs. 750/- per quarter semi-urban branch (AQB less than Rs. 5000/-) - Rs. 750/- per quarter

Nil Drawn on other center Rs.50 Plus Charges as outlined below Up to Rs. 500 _ Rs 10 Above Rs.500 _ Rs 15 Above Rs 5000 _ Rs 30 to rs. 10000 Above Rs. 10000 to-Rs 3 per 1000 or part their of Above Rs. Lakh Rs. 6 per 1000 or part their of (min Rs. 300 to Max Rs. 10000 Nil Annual fees Regular - 100 per taxes womens card 100 per year taxes Gold 500 per year (Plus taxes Replacement Charges replace of a damaged Card -No Charges and Replacement of a lost Card Rs. 100 (Plus Taxes for all card types) At HDFC Bank ATMS Nil

Mobile Banking Debit card

Rs. 90/-per annum Annual fees Metro/ urban Rs. 95 Semi urban Rs.95 Gold Debit card Replacement Charges Metro/Urban Rs. 95 Semi Urban Rs. 95 Gold Debit cash Rs. 250

Debit card - Transaction Charges

Axis Bank ATMS Metro- Nil

Duplicate pin

Gold Debit Card-Nil At visa/ master card enabled ATMS of Partner Banks in India; Cash withdrawal Metro/Urban-Rs 30 Gold Debit Card-Nil Balance Inquiry Metro/Urban-Rs 10 Gold Debit Card-Nil At other Visa/master card enabled ATMS in India Cash withdrawal Metro/Urban Rs. 50 gold Debit card - Nil Out side India cash Withdrawal Metro/Urban - Rs. 125 Gold Debit card- Rs. 125 Balance Inquiry Metro/Urban-Rs. 25 Gold Debit card -Rs. 25 Metro/Urban-Rs 50 Semi/urban Rs. 50 Gold Debit card -Rs. 50

Balance Inquiry-Free Cash Withdrawal- 5 Free Cash drawal Transaction per months at non -HDFC Bank ATM- Rs. 20 per transaction Per Transaction Limit will be Rs. 10000 Non HDFC Bank International ATMS Rs. 15 per balance enquiry Rs. 10 per Cash withdrawal (Plus Taxed)

Rs-25 (plus Taxes)

ANALYSIS AND INTERPRETATION


Age group of respondent Inclined to Savings:

12% 34%

30% 20-30 30-40 24% 40-50 Above 50

Interpretation:The above respondent data table (1A) shows that, Many interviewed respondents belong to the age group of 20-30, 34 % of the respondents belong to this age group.24% of respondents belong to age group 30-40,is more interested into savings under this segment of age limit. Hence any marketing technique adopted by Bank should focus on this age group.

Monthly Income of the respondents:

6% 24% 32% Less than 10000 10000-20000 20000-30000 38% Above 30000

INTERPRETATION:The above data information show that, the maximum respondent belong to the monthly income between 10000-20000, 38% of the respondents belongs in the monthly income of 10000-20000& 32% of the respondent belong in to the monthly income of less than10000,these showing a greater interest of respondents in

Savings account under this segment of monthly income.

The occupation of the respondents:

12% 22% Government Service Businessman private

66%

INTERPRETATION:The above respondent data show that the 66% of the respondents are private employees uses Savings account. Hence Bank should care look after the needs and requirements of the private employee towards saving account. Hence any marketing technique adopted by Bank should focus on this Occupation group.

Reason for selecting the bank

11%

10% Mobile banking Network of Bank Security of Money 8% Location & ATM Goodwill of Bank

25% 46%

INTERPRETATION:After examining the data we found that most of the respondents said that reason was Location & ATM of the Bank to open account.

Which bank do you posses?

AXIS Bank HDFC Bank Other 28% 42%

30%

INTERPRETATION:The above graph gives the information about the bank preferred by the respondents in the survey. From the survey, 42% of respondents were having a Saving Bank Account with Axis bank; 30% were having account with HDFC Bank and 28% were having account with other banks like SBI, PNB, ICICI Bank etc.

What do you like in your bank?

5% 10% 5%

5% 45% More branches More ATMs Better ROI Better Services

30%

Convenience Other

INTERPRETATION:The above pie chart shows the reason for having a bank account in their preferred bank. Most of the respondents i.e. 45% like their bank because of the availability of bank branch; 30% prefer their bank because of having ATM near their place; 10% for better services like issuing cheque books whenever required etc; however rate of interest, convenience and other reason is been preferred by only 5% of the respondents

Value added services

24%

12% Door Step Banking

12%

24 hour Banking 36% Phone Banking Extra Withdrawal 16% Mobile Banking

INTERPRETATION:The banking value added services used by customer are door step banking and 24 hour banking.

Opinion against AQB

32%

68% Yes No

INTERPRETATION:After examining the data we found that most of the respondents think on the AQB before open account.

Respondents Association With Organisations

18%

12% 8% SBI PNB AXIS BANK 20% BANK OF BARODA HDFC 15% 5% ICICI UNION BANK OTHERS

10%

12%

INTERPRETATION:From above 35% of the respondents prefer having account with public sector banks out of which SBI holds 12% of respondents, PNB with 8%,Union bank 10% and Bank of Baroda is with the least of 5% of respondents. However there are 65% of respondents who have association with private sector banks out of which 22% is for Axis Bank, 15% for HDFC Bank, 10% for ICICI Bank, 18% with other banks like UCO Bank, Bank of Maharashtra, Kotak Mahindra, Yes basnk etc.

CONSTRAINTS FACED BY AXIS BANK


1. Unable to meet the demand of the customers.Axis bank is not able to fullfil
the demands of the different customers. 2. Credit card problems,is also one of the constraints of Axis bank.

3. Net banking services is the area of concern for the axis bank. It is not effective as compared to other banks.

4. Phone banking- Charges deducted for the customers who had already activated their phone banking options in their account and customers are not informed about that i.e they do not receive any message in their cell phones.

5. Incorrect withdrawl from ATM by using another bank ATM card.

6. Lot of deduction is done by the bank in the name of the consolidated charges and customers are not informed about it or not given any information about it.

FINDINGS & CONCLUSIONS


This project on comparison of savings account of axis bank with HDFC BANK helped to analyze and understand the trends of BANKING industry and the savings account of Axis bank in Lucknow. With the help of the research and survey conducted, it was tried to adjudge competitiveness of Axis bank in Comparison with the HDFC bank. Banking industry is growing very fast in India and so is Lucknow. Axis bank is a strong player of this industry. The competition in banking sector is very high and each and every area of service matters equally. Axis bank has strongly positioned itself for accelerating market growth. HDFC and ICICI being the strongest competitors, Axis bank is required to work on its weaknesses and grab the opportunities beforehand to maintain and improve its market position in the banking sector. A detailed study of the comparison of savings account of axis bank with HDFC BANK have been executed which will give an insight as to what is lacking in the plans of Axis bank and what could be done to improve them. After examining the data we find that most of the respondents think on the AQB before open account. MAQB of Axis Bank is less than HDFC BANK which is a major reason of opening an account in Axis Bank The survey gives the idea about the strength and weaknesses of the services provided by Axis bank to their customers regarding savings account and current position of Axis bank .

BIBLIOGRAPHY
Books
I. II. III. Gupta, C.B , Marketing research, Sultan Chand & sons. Malhotra, Naresh (2008), Marketing Research , Pearson Education. Business Research Methods, Tata McGraw Hill Edition

Websites
http://www.slideshare.net/sidekick/banking-industry-overview http://www.axisbank.com/ http://www.rupeetimes.com/compare/savings_accounts/axis_bank.html http://en.wikipedia.org/wiki/HDFC_Bank http://www.rupeetimes.com/compare/savings_accounts/hdfc_bank.html http://www.axisbank.hk/serviceschargesandfees/serviceschargesandfees.asp http://www.indianbanksguide.com/service-charges/hdfc-bank-fees-chargesfor-regular-savings-account/

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