Introduction

Company Profile

Objective of the study

Findings

Data Analysis

Research And Methodology

Limitation of the study

Hypothesis

Conclusion

Suggestion

Bibliography

INTRODUCTION
Savings accounts are accounts maintained by retail
financial institutions that pay interest but cannot be used directly as
money in the narrow sense of a medium of exchange (for example, by
writing a cheque). These accounts let customers set aside a portion of
their liquid assets while earning a monetary return. For the bank, money
in a savings accounts may not be callable immediately and in some
jurisdictions, does not incur a reserve requirement, freeing up cash from
the banks vault to be lent out with interest.

The other major type of accounts is deposit account are transactional

account (checking account or current account by country), money
market account, and the time deposit. To open a savings account,
simply go down to your local bank with proper identification and ask to
open an account.

Because saving accounts almost pay lower interest rates than Treasury
bills and certificates of deposit, they should not be used for long-term
holding period. Their main advantages are liquidity and superior rates
compared to checking accounts. Most modern savings accounts offer
access to funds through visit to a local branch, over the interest and
through automated teller machines.

The topic A Comparative Analysis Of Saving Accounts In Axis Bank

Limited With Other Banks [SBI AND HDFC] Is basically concerned about the

saving product offered by AXIS BANK. Bank provides various kinds of

saving account for different segments of people, according to the current
requirements and demand of the customers. Every saving products is
designed so well that it contains all the important features and services
according to the current scenario for the people, which obviously very
easily attracting customers to deal at least once with the ban. Apart from
this, my area of work also includes to compare these saving accounts
provided by AXIS BANK with other private banks and government banks
i.e. HDFC BANK and STATE BANK OF INDIA

Company Profile
Axis bank is the third largest private sector bank in India. Axis
entire spectrum of financial services to customer segments covering
large and Mid-Corporates, MSME, Agriculture and Retail Businesses.

INTERNATIONAL BUSINESS
The Bank has a large footprint of 2402 domestic branches
(including extension counters) and 12,922 ATMs spread across the
country as on 31st March 2014. The overseas operations of the Bank are
spread over its seven international offices with branches at Singapore,
Hong Kong, DIFC, (Dubai International Financial Centre), Colombo and
Shanghai and representative offices at Dubai and Abu Dhabi. During the
year, the bank has upgraded its representative office in Shaghai, China
to a branch to become the first Indian private sector bank set up a

branch in China. During the year,

the Banks overseas subsidiary

namely Axis Bank UK Ltd. commenced banking operations

Traded as

BSE: 532215
LSE: AXBC
NSE: AXISBANK

Industry

Banking, Financial services

Founded

1994 (as UTI Bank)

Headquarters Mumbai, Maharashtra, India

Key people

Dr. Sanjiv Mishra (Chairman)

Shikha Sharma (MD & CEO)

Products

Credit cards, consumer banking, corporate

banking, finance and insurance, investment
banking, mortgage loans, private banking,
private equity, wealth management

Revenue

340 billion (US$5.3 billion) (2012)[2][3]

Operating
income

94 billion (US$1.5 billion) (2012)

Net income

52 billion (US$820 million) (2012)

Total assets

3.4 trillion (US$53 billion) (2012)

Employees

42,420 (on 31-March-2014)

Website

www.axisbank.com

HISTORY
Axis Bank is one of the first new generation
private sector banks to have begun operations in1994. The Bank was
promoted in 1993, jointly bu Specified Undertaking of Unit Trust of India
(SUUTI) (then known asUnit Trust of India), Life Insurance Corporation of
India (LIC), General Insurance Corporation of India (GIC), National
Insurance

Company Ltd., The New India Assurance Company Ltd., The Oriental
Insurance Company Ltd. and United India Insurance Company Ltd. The
shareholding of Unit Trust of India was subsequently transferred to
SUUTI, an entity established in 2003.
With a balance sheet size of Rs.3,83,245 Crores a
on 31st March 2014, Axis Bank has achied consistent growthand stable
asset quality with a 5 year CAGR (2010-2014) of 21% in Total Asset,
19% in Total Deposits, 23% in Total Advances and 28% in Net Proffit.

BOARD OF DIRECTORS

The members of board are:-

Name

Smt. Shikha Sharma

Designation

M.D. and CEO

Dr. Sanjiv Mishra

Chairman

Smt. Usha Sangwan

Director

Smt. Ireena Vittal

Director

Shri. K. N. Prithviraj

Director

Shri. V. R. Kaundinya

Director

Shri. Prashad Menon

Director

Brand Ambassador

Deepika Padukone, well-known Bollywood Actress was appointedas

the brand ambassador of Axis Bank.

Registered Office

The registered office of Axis Bank is located at:Trishul, 3rd Floor,

Opposite Samartheshwar Temple,
Near Law Garden, Ellisbridge,
Ahmedabad, Gujrat - 380006

Axis Bank Limited (Axis Bank) offers a broad range of retail &
corporate banking products and services in India. The bank was earlier
known as UTI Bank Limited. Axis bank offers banking and financial
services in India. The companys services and Brands include the
following:

Services:
Personal Banking:
Accounts
Deposits
Loans
Cards
Investments

10

Insurance
Payments
Other Services

Corporate Banking:
Accounts
Credit
Capital Market
Cash Management Services
Govt Business

NRI services:
Accounts
Deposits
Remittances

COMPETITORS OF AXIS BANK LIMITED

Central bank of India

Corporation bank
HDFC bank limited
ICICI bank limited
State bank of India
Union bank of India
Bank of Baroda

11

12

Objectives of the Study

To study the Saving Accounts Policy followed by Axis Bank Ltd.
To compare the Savings Account Policy with other private banks.
Consumer awareness about the products and services provided by the
axis bank.
Consumer preference about various products and services.
Customers

perception

towards

private

Banking

and

their

expectations from private banks.

Customer satisfaction with the service provided by the bank.

13

SAVING PRODUCTS OF AXIS BANK

PRIME SAVING ACCOUNT

Axis Bank has always strived to pace their products with the growing
needs of the customers. The Prime Saving account has therefore been
created with the customers specific financial requirements in mind.

WIDER ACCESSIBILITY
As a Prime Saving account holder, customers enjoy access to a wide
network of over825 branches and one of the largest ATM networks (3595
ATMs) in India giving them easy access to their account from almost any
corner of the country.

14

PRIME SAVING ACCOUNT : FEATURES

At Par Cheque Facility with an enhanced limit upto Rs. 1,00,000

Free 6 cash withdrawal transactions per quarter at other bank

ATM's

Free monthly statement of account

Free DD/PO (drawn on Axis Bank Centers)

Free Passbook

Access through more than 671 offices & 2764 ATMs

24*7 Telebanking, Internet banking and Mobile Banking.

*Conditions Apply

15

PRIME SAVING ACCOUNT : DOCUMENTATION

To open Prime Saving Account with Axis Bank, you just need to
provide:

An account opening form duly filled.

2 Latest passport size colour photographs

.

Photo proof of identity PAN card, passport, Driving License or A

letter from the Bank Manager verifying identity, signature and address
along with a self signed cheque
.

Proof of residence like recent electricity bills or telephone bills or

credit card statements

.

The account opening form can be collected from the branch or can

be down loaded. The duly filled account opening form along with the
relevant document scan be submitted at the branch.

16

SENIOR PRIVILEGE ACCOUNT

Because life begins at sixty

Axis Bank's Senior Citizen Saving Account has been designed

keeping in mind the fact that a senior citizen's banking requirements are
wholly different
and require special consideration.

SENIOR PRIVILEGE: FEATURES

BANKING PRIVILEGES
Dedicated Relationship Managers :
Free Monthly Statement of Accounts/Free Passbook
Faster Credits to Foreign Cheques
Anywhere Banking
Tele-banking
Free Mobile Banking
I-Connect:.
Complimentary Financial Planning:

17

SENIOR PRIVILEGE: ELIGIBILITY

You can avail of a Senior Citizen Saving Account subject to the
following criteria

Person should be a Indian Resident

Age as on date of account opening should be greater than or equal

to 60 years.
* Condition Apply

EASY ACCESS SAVING ACCOUNT

Banking made easy
Presenting, Axis Bank's Easy Access Saving Account. The account is
an endeavour by the Bank to understand the consumers' needs and
redefine banking to suit the requirements for a truly comfortable banking
experience. Easy Access Saving Account gives customers instant
access to their money anywhere, anytime. Possessing a range of
unmatched features, it has been devised to better suit the convenience
of banks client base.

Customers can avail of all these services with a minimum quarterly

average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in
semi urban centers and Rs. 1,000 in rural centers.

18

EASY ACCESS SAVING ACCOUNT : FEATURES

At Par Cheque Book

ATM Network

Anywhere Banking

Tele-banking

I-Connect

Mobile Banking

Account Statement

Quarterly Interest
ZERO BALANCE SAVING ACCOUNT
Save at Zero
Presenting, Axis Bank's Zero Balance Saving Account. At Axis Bank it
has been their constant endeavour to create products specifically
catering to customers needs. The account while offering a whole range
of services also addresses customers latent need of having an account
without the hassle of maintaining an average quarterly balance.

19

FEATURES :
No Average Quarterly Balance requirement

Free International Debit Card with an Accidental Insurance cover

up to Rs. 2 lakhs* (charges for the primary holder are waived)

Free mobile banking facility

Access through more than 825 branches and more than 3595
ATMs

At-Par cheque facility with the clearing limit of Rs 50,000

24x7 Tele-banking & Internet banking

Free quarterly statements

*Conditions Apply

1). Initial funding of Rs. 5,500.

2). Account maintenance fee of Rs. 500 per annum

DOCUMENTATIONS

An Account Opening Form duly filled

One latest passport size photograph

20

Initial cheque of Rs 5,500

Photo identity proof like PAN card, Passport, Driving License or Voters
card

Proof of residence like recent utility bill or bank account/credit card

statement.

Any two of the following documents:

Latest Post paid mobile bill with a minimum bill payment of Rs.1,000

Minimum Net Salary Rs. 20,000 or other bank account statement with

minimum day end balance of Rs 25,000

Frequent Flyer Card or Customer Loyalty Card (any of the

renowned retail chain)

Proof of owning a house

Latest paid landline phone bill of Rs. 1,500/- or higher

Professionals (Doctors, CA/CS/Cost Accountant, and Architect) need to

submit any one of the above document along with proof of profession.

KRISHI SAVING ACCOUNT

Kheti Ho Khushhali Ki

Axis Bank offers a unique saving account which is easy to operate and
transact immediately. This product has been specially designed keeping
in mind the unique requirements of a farmer and true to its nature has
been called the Krishi Saving Account.
21

KRISHI SAVING ACCOUNT: FEATURES

Average Balance Requirement
This account is offered with the requirement of maintaining the halfyearly average balance of Rs 1000 only.

International Master Debit Card

The Krishi Saving Account entitles customers to an International
Master Debit
Card with which they can access their account anytime through the
Axis Bank
ATM network free of cost. This card comes with:

A cash withdrawal limit of Rs 25,000 per day

Free Accident Insurance cover of Rs 2 lacs

Anywhere Banking
Being a Krishi account holder, customers are entitled to access wide
network of
more than 700 branches and 3000 ATMs across 440 cities. They can
now easily carry out their transactions through any of the branches or
ATMs.

At Par Cheque Book

Krishi Saving Account comes with the At-Par Cheque facility. This
facility
enables customers to encash the cheques as local instruments at any
of the 440centres where the Bank has its presence, at no extra cost.
22

Moreover, customers can also issue cheques at other centres up to the

limit of Rs 50,000.
*Conditions Apply

DOCUMENTATION:
The KYC documentation required would be as under:

The document should contain the name, photograph, residential

address and the approximate period of residence by the customer at

the given address.
.

The letter should not be more than one month old and the public

official /government servant should affix his rubber stamp and

signature on the letter.

The letter should have a provision for further certification by the

public official / government servant wherever the address of the

customer is being changed.

Krishi Saving Account should be opened only for farmers. Hence

the customers are required to submit a document supporting his/her
occupation. This document can be any of the following:

Certificate from the Village Administrative Officer or Patwari

Land document

23

The account opening form can be collected from the branch or can be
downloaded. The duly filled account opening form along with the relevant
documents can be submitted at the branch.

24

25

Data Analysis
SOURCE OF DATA

Primary source

Secondary source

SAMPLE SIZE
The sample size I took for this research is 50(x2).

Primary data: The data which are collected at first hand either by the
researcher or by someone else especially for the purpose of the study
are known as Primary Data.
Thus for the research I have collected the data from:
Observation
Survey

Secondary data: Any data which have been gathered earlier for some
other purpose are secondary data. Most of the data in this research is
primary since my report was of exploratory type although some
secondary data have been also use through:

Websites
Miscellaneous reports
26

Internal experts

DATA COLLECTION
1)

If given an option, which bank will you prefer to deal with as a

customer?

PREFER TO DEAL
40%
35%

36%

30%

31%

25%
20%

22%
DEALING

15%
10%
5%
4%

4%

3%

bank of
baroda

standard
charted

a bank

0%
axis bank

hdfc bank

sbi

Among the total customers, 36% customers are in favor of SBI.

These customers prefer to deal with SBI, the reason being it is a public
bank and it is located in every nook and corner of the city.

The second preference of the customers is Axis bank, 31%

customers favor this bank for banking activity. Thus giving tough
competition to SBI. 22% customers are in favor of HDFC Bank. Bank of
Baroda, Standard chartered and Karnataka bank are also preferred by
some customers.

27

2)

In terms of saving bank account opening, which bank would you

prefer?

Preference in terms Saving Bank Accuont

40%
34%

35%
30%
30%
25%
25%
20%
15%

Saving Bank Accuont

10%
5%

4%

2%

3%

2%

0%

Among the total customers, 34% customers are in favour of SBI. The
customers prefer this bank because its charges are less than the other
banks. 30% customers prefer Axis bank due to the efficient level of
services provided by this bank which attracts customers.25% customers
are totally loyal to the HDFC bank. BOB, Standard Chartered,
ICICI and Allahabad bank are also preferred by some customers.

28

What are the services you use of bank, in saving account?

3)

Preference of use of service in saving A/C

50%
45%
40%

45%

35%
30%

32%

25%
20%
15%

service in saving accuont

10%
5%

10%

8%

1%

4%

0%

ATM/debit card is most preferred by the customers.45% customers

are in favour of this service. Thus, ATM maintenance charges should be
kept optimum and cash withdrawal/deposits also be made more
convenient to the customers. The second preference of the customers is
cheque book at par.32% customers prefer to use this service provided
by the bank in saving account. The next preference is internet banking.
Thus more and more facilities and services should be inculcate by the
bank in internet banking for making it more attractive to the
customers.8% customers use mobile banking.
Relationship manager and door step banking are also preferred by
few customers.
29

4) Which bank as per your experience provides the best customer

service when you personally visit the bank?

Providing Best Customer Service

35%

32%
28%

30%

30%

25%
20%
15%

Best Customer Service

10%

6%

5%

2%

2%

BOB

Karnataka
bank

0%
Axis bank

HDFC

SBI

ICICI

Majority of customers agreed that Axis bank provides the best

customer services when they personally visit the bank. Thus, 32%
customers are in favour of Axis bank and the second preference is SBI,
close competitor of Axis bank in this case because 30%customers said
that SBI provides the best customer services when they personally visit
the bank. The third and giving close competitor to SBI is HDFC Bank.
28% customers feel like this bank provides best customer services. 6%
customers are in favour of ICICI bank. BOB and Karnataka bank are
also preferred by some customers.

30

Which banks ATM you use the most, for cash withdrawal?

5)

Using ATM
40%
36%
35%
30%
26%
25%

22%

20%
ATM
15%
10%
6%
4%

5%

4%
2%

0%
Axis Bank

HDFC

SBI

BOB

Standard
charted

ICICI

PNB

Among the total no. of customers, 36% customers said that they use
Axis banks ATM the most for cash withdrawal because its location
covers almost all the areas of the city. The next preference is HDFC
Bank and 26% customers said that they use HDFC banks ATM because
they are convenient with it. The third preference is SBI and 22% people
are in favour of this bank. The reason being it is a public bank. 6% are
totally loyal to their existing ICICI bank. PNB, BOB and Standard
chartered are also preferred by some customers.

31

32

Research And Method Of Data

Collection
Research methodology implies a systematic attempt by the
researcher to obtain knowledge about subject understudy. This is
systematic way to show the problem and it is important
components of the study without which a research may not able
obtain the facts and figures from employees.

Research instrument used for collection of information is

interviews, survey & observation. As this research is exploratory
so it includes the study of subject through the observation &
surveys. Although miscellaneous reports are also used.

33

34

Findings

People prefer to deal with SBI the most than other banks, the
reason being it is a public bank and it is located in every nook and corner
of the city.

According to analysis that majority of people are in favour of public

banks in terms of charges, the reason is their blind faith upon these banks
regarding charges.

According to analysis, majority of people agreed that only public

banks provide the zero balance account facility to low income level group
of customers and in private banks one has to maintain an average
quarterly balance.

Majority of customers use net banking only for making bill

payments. Thus, they do not avail other services offered in net banking.

Most of the customers believe, Private Banks provide better

customer services than public banks just to attract more and more
customers.

Public banks do mass banking and private banks do class

banking.

35

36

Hypothesis
A hypothesis is a tentative statement about the relationship
between two or more variables.

From the above data analysis of capital budgeting of bank of

India, some points are observed, collected & predicted.
I have to observed that Axis Bank maintain their Saving
Accounts by using some processes
There are some services which are provided regarding the
Saving accounts.
Provide better customer service.
If the management should make a careful decisions whether a
particular project is economically acceptable and within the
specified limits of investments to be made during a specified
period of time then it should be effective for organizations.

37

38

Limitations
1)

The study was based on a very modest sample size, hence

cannot be called as a representation of the views and opinion of
the majority.

2)

The conclusion arrived at are based on very less observation.

Positive performance of working capital will reflect on the
financial health.

39

40

Conclusion
The topic A DETAILED ANALYSIS OF SAVING ACCOUNT IN AXIS
BANK LTD. AND ITS COMPARISON WITH OTHER BANKS [ SBI AND
HDFC ] is basically concerned about the saving products offered by
AXIS BANK. I have gone through these entire saving product, their
features and services during my research. I have also compared these
saving products of Axis Banks with HDFC Bank ANDSTATE BANK OF
INDIA. This comparison includes some common basis of differentiation
through which evaluation has been done. I have also used a
QUESTIONNAIRE for comparative analysis, which has been filled by the
customers just to know what they think about the banks services and
facilities given to them. I have found very interesting results from the
research.

41

42

Suggestions

The most important threat which appears in Axis Bank Lucknow

are the
competitors in which the major competitor is State Bank of India,
having many branches in Lucknow itself and thats why it is more
convenient for the people to approach that bank. Thus Axis Bank should
expand the number of branches.

In terms of charges also, majority of customers are in favour of

SBI. Thus Axis Bank should adopt flexible approach in charges and the
charges should be charged according to the customers income,
competition and other factors so that they do not loose any genuine
customer due to these unfair charges.

According to my analysis, majority of customers said that they use

AXIS
BANKS ATM the most for cash withdrawal because its location covers
almost all the areas of the city. Thus, Axis bank can use this feature as a
major tool for advertising and promotion purposes.

Providing best customer service is also one of the advantages for

the bank which can be used for promotion purposes so that more and
more people attracts towards the bank.

43

44

Bibliography
BOOKS:
i.) Kothari, C.R.:- Research Methodology methods and techniques,
(second revised edition), New Delhi, new age international (P) Limited
publishers, 2008.
ii.) Khan, M.Y. : Financial services, (Third Edition)
iii). Beri, G.C.:- Marketing research, (Fourth Edition), New Delhi, Tata
McGrawHill Publishing Company Limited, 2008.

WEBSITES:
I.
II.
III.

www.axisbank.com
www.google.com, Axis Bank: Explore Axis Banks Profile
www.wikipedia.com, Axis Bank Wikipedia the
encyclopaedia

free

45