ANALYSIS OF SAVING ACCOUNTS IN AXIS BANK LIMITED AND ITS COMPARISON WITH OTHER BANKS [SBI AND HDFC]

AXIS BANK LTD

. SUMMARY/SYNOPSIS OF THE PROJECT

This project basically deals with the savings account available in Axis Bank. Axis Bank provides various kinds of savings account, and each one of it contains number of features and services. Thus my area of work is to throw the light on these accounts provided by the Axis Bank, and compare it with the other private and government bank. [HDFC & SBI].

OBJECTIVE OF THE PROJECT

To gain the knowledge of Savings products and services of Axis Bank Ltd. and to compare it vis a vis other banks.

CHAPTER 1 INTRODUCTION THERITICAL REPRESENTATION OF THE TOPIC

My topic A DETAILED ANALYSIS OF SAVING ACCOUNT IN AXIS BANK LTD. AND ITS COMPARISION WITH OTHER BANKS [SBI AND HDFC BANK]. is basically concerned about the savings product offered by AXIS BANK. Bank provides various kinds of savings account for different segments of people, according to the current requirements and demand of the customers. Every savings 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 atleast 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.

This comparison includes some common basis of differentiation through which evalution is to be done. I have also used 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. My Questionnaire includes 12 questions and sample size is 50(x2).

CHAPTER 2 ORGANIZATIONAL PROFILE OF THE COMPANY

INTRODUCTION

Banking in India originated in the last decade of the 18th century. The oldest bank in existence in India is the State Bank of India , a government owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from yhe Imperial Bank of India ,relegating it to commercial banking functions. After Indias independence in 1947 the Reserve Bank of India was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks, and again 6 next in 1980.

EARLY HISTORY

Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India which started in 1786, and The Bank of

Hindustan , both of which are now defunct. The oldest bank in existence in India is the The State Bank of India, which originated in Calcutta in JUNE 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency bank, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East

India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors.

The three bank merged in 1925 to form the Imperial Bank of India , which upon Indias independence , became the State Bank of India.

Indian merchants in Calcutta established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India.

It was not the first though. That honor belongs to the Bank of Upper India, which was established in 1863, and which survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Shimla

Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center.

The first entirely Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National Bank, established in Lahore in 1895, which has survived to the present and is now one of the largest banks in India.

Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability. Around five decades had elapsed since the Indian Mutiny, and the social, industrial and other infrastructure had improved. Indians had established small banks, most of which served particular ethnic and religious communities.

NATIONALISATION
The next significant milestone in Indian Banking happened in the late 1960s when the Indira Gandhi government nationalized, on 19th July, 1969, 14 major commercial Indian banks, followed by nationalization of 6 more commercial Indian banks in 1980. The stated reason for the nationalization was more control of credit delivery. After this, until the 1990s, the nationalized banks grew at a leisurely pace of around 4%-also called as the Hindu growth of the Indian economy.

To understand the Indian banking sector more easily a diagram is shown regarding the name of the bank, its numbers shown in the bracket and also the category of bank under which it falls.

STRUCTURE OF THE ORGANIZED BANKING SECTOR IN INDIA.

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BACKGROUND
Axis Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd.

The Bank today is capitalized to the extent of Rs. 359.44 crores with the public holding (other than promoters) at 57.74%.

The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The Bank has a very wide network of more than 838 branches and

Extension Counters (as on 31st May 2009). The Bank has a network of over 3674 ATMs (as on 31st May 2009) providing 24 hrs a day banking convenience to its

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customers. This is one of the largest ATM networks in the country.

The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

MISSION AND VALUES

Mission of Axis Bank

Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele. Continuous technology upgradation while maintaining human values. Progressive globalization and achieving international standards. Efficiency and effectiveness built on ethical practices.

Core Values of Axis Bank

Customer Satisfaction through Providing quality service effectively and efficiently "Smile, it enhances your face value" is a service quality stressed on Periodic Customer Service Audits

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 Maximisation of Stakeholder value

Success through Teamwork, Integrity and People.

PROMOTERS
Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.

THE COMPANY AND ITS PRODUCT LINE

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. The company offers several products including accounts, deposits, cards, credits, advisory services, treasury, mutual funds, cash management, international banking and transaction services. The bank operates 827 branches and extension counters, as on 31 March 2009. Axis Bank has operations in 29 States and 3 Union Territories in India. The bank has a network of 3595 ATM machines. Axis Bank is the third largest ATM network provider in India. It also has branches in China, Hong Kong, Singapore and UAE. The bank is headquartered at Mumbai in India.

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The company reported revenues of (Rupee) INR 108,291.13 million during the fiscal year ended March 2009, an increase of 54.59% over 2008. The operating profit of the company was INR 36,801.90 million during the fiscal year 2009, an increase of 42.35% over 2008. The net profit of the company was INR 18,129.32 million during the fiscal year 2009, an increase of 71.17% over 2008.

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 Insurance Payments Other Services Corporate Banking: Accounts Credit Capital Market

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Treasury 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

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AXIS BANK LIMITED (FORMERLY UTI BANK LIMITED)

GROUP - BALANCE SHEET
CONSOLIDATED BALANCE SHEET AS ON 31 MARCH 2008 CAPITAL AND LIBILTIES SCHEDULE NO. CAPITAL RESERVE & SURPLUS
EMPLOYEES STOCK OPTION

AS ON 31-03-2008 (RS in Thousands)

AS ON 31-03-2008 (RS in Thousands)

1 2

3,577,097
83,941,262

2,816,308
31,068,175

OUTSTANDING(NET) DEPOSITE BORROWING

OTHER LIABILTIES & PROVISIONS

17(4.16) 3 4 5

21868
876,193,450 56,240,405 75,689,729

89783
587,850,227 51,956,030 58,779,259

TOTAL

1,095,663,811

732,559,782

ASSETS

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Cash and Balances with Reserve Bank of India

73,056,584

46,610303

Balances with banks and money at call and short notice Investments ADVANCE FIXED ASSET OTHER ASSET

51,998,614

22,572,748

8 9 10 11

338,651,008 594,759,888 9,324,663 27,873,054

268,871,605 368,764,606 6,778,359 18,962,161

TOTAL

1,095,663,811

732,559,782

Contingent liabilities Bills for collection

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2,588,956,615 83,233,927

1,841,653,501 62,746,332

Significant Accounting Policies and Notes to Accounts Schedules referred to above form an integral part of the Consolidated Balance Sheet As per our report of even date For Axis Bank Ltd.

For S. R. Batliboi & Co. Chartered Accountants 17

MR. P. J. Nayak Chairman & CEO

per Viren H. Mehta Partner

N. C. Singhal Director

R. H. Patil Director

R. B. L. Vaish Director

Membership No.: 048749

P. J. OJA COMPANY SECRETARY

DATE : 21 APRIL 2008 PLACE: MUMBAI

SWOT ANALYSIS OF AXIS BANK LTD.

STRENGTH
Support of various promoters High level of services Knowledge of Indian markets

WEAKNESSES
Not having good image Market capitilazation is very low 18

 Not been fully able to positon itself correctly

OPPORTUNITIES
Growing Indian banking sectors People are becoming more service oriented In the global markets

THREATS
From different competitors Foreign banks Governments banks Future market trends

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BOARD OF DIRECTORS
The members of board are :

Smt. Shikha Sharma Shri N.C. Singhal Shri. J.R. Varma Dr. R.H. Patil Smt. Rama Bijapurkar Shri R.B.L. Vaish Shri M.V. Subbiah Shri Ramesh Ramanathan Shri K. N. Prithviraj

Managing Director & CEO Director Director Director Director Director Director Director Director

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ACHEIVEMENTS/AWARDS
8Mar 7Sep 7-Jul 7-Jul 7-Jun 7-Apr Axis Bank launches Platinum Credit Card, India's first EMV chip based card Axis Bank ties up with Banque Prive Edmond de Rothschild Europe for Wealth Management UTI Bank re-brands itself as Axis Bank UTI Bank ties up with Tata Motors Ltd. for Car Loans UTI Bank's expansion into Asia supported by FRS UTI Bank opens a Financial Services Category I Branch in the DIFC in Dubai UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans UTI Bank ties up with IIFCL to provide finance for infrastructural projects in the country UTI Bank launches Car Loans in association with Maruti Udyog Ltd UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market UTI Bank opens Representative Office in Shanghai UTI Bank and LIC join hands to launch an Annuity Card for group pensioners of LIC UTI Bank ties up with Geojit Financial Services to offer Online Trading service to its customers UTI Bank opens its first international branch in Singapore UTI Bank wins International Financing Review (IFR) Asia 'India Bond House' award for the year 2005

7Mar 7Mar 7Mar 6Aug 6-Jul 6May 6May 6-Apr 5Dec

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5May 5-Mar

UTI Bank and Bajaj Allianz join hands to distribute general insurance products UTI Bank gets listed on the London Stock Exchange, raises US$ 239.30 million through Global UTI Bank appointed by Government of Karnataka as the sole banker for the Bangalore One (B1) project UTI Bank (by pursuing a proactive strategy of forging bilateral agreements and being a progressive player in the multi-lateral consortiums for shared ATM network) offers its customers access to over 7000 ATMs across the country - the largest to be offered by any bank in India so far. Bank inaugurated its ATM at Thegu near the Nathula Pass in Sikkim. This ATM is at the highest altitude in India. The Bank's Debit Card crosses the one million mark. Total Advances cross Rs 7,000 Crore. Bank declares a net profit of Rs 192.18 crores for FY03, a growth of 43% over the previous year

5-Feb

4-Feb

3-Dec

3-Aug 3-Aug 3-May

3-Feb

Bank, in a pioneering move, launches the AT PAR Cheque facility, free of cost, for all its Savings Bank customers. Bank wins mandate to set up 14 ATMs at the Western Railway stations along the Mumbai division. Bank signs MoU with BSNL regarding bill collection services across the country through both online and offline channels.

3-Feb

2-Aug

2-Mar 2-Jan

Deposits Cross Rs.12, 000 Crore The Bank's 100th branch opens at Tuticorin,Tamilnadu

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2-Jan

The Bank opens an ATM at the Gol Dak-Khana, i.e. the New Delhi GPO, making it the first instance of a commercial bank setting up an ATM at any post-office in the country.

1-Jul

Bank ties up with Govt of Andhra Pradesh for collection of commercial tax

Dec-00 Bank opens its 200th ATM. It becomes the 2nd largest ATM network in the country, a position held even today. Oct-00 Apr-00 Bank becomes fully networked UTI Bank calls off its proposed merger with Global Trust Bank and surges ahead on its own.

Mar-95 Completes first profitable year in operation Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan Singh, Hon'ble Finance Minister, Government of India.

Dec-93 Registered office at Ahmedabad; Head office at Mumbai

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CHAPTER 3

PRESENTATION OF DATA AND ANALYSIS

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SOURCE OF DATA
Primary source

Secondary source

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

METHOD OF DATA COLLECTION

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 my research I have collected the data from : Questionnaire Observation Personal interviews Survey

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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 Accounting records Miscellaneous reports Internal experts

RESEARCH INSTRUMENTS AND TOOL USED:

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 interviews, observation, & surveys. Although miscellaneous reports, internal experts advices are also used.

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PRESENTATION OF DATA
ABOUT SAVINGS ACCOUNT
Savings Bank Accounts are meant to promote the habit of saving among the citizens while allowing them to use their funds when required. The main advantage of Savings Bank Account is its high liquidity and safety. On top of that Savings Bank Account earns moderate interest too. The rate of interest is decided and periodically reviewed by the Government of India. Presently, the rate of interest is 3.5% on daily product basis.

Savings Bank Account can be opened in the name of an individual or in joint names of the depositors. Savings Bank Accounts can also be opened and operated by the minors provided they have completed ten years of age. Accounts by Hindu Undivided Families (HUF) not engaged in any trading or business activity can be opened in the name of the Karta of the HUF.

The minimum balance to be maintained in an ordinary savings bank account varies from bank to bank. It is less in case of public sector banks and comparatively higher in case of private banks. In most of the public sector banks, minimum balance to be maintained is Rs. 100. In accounts where cheque books are issued, a minimum balance of Rs. 500/- has to be maintained.

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For Pension Savings Accounts, minimum balance to be maintained is Rs. 5/without cheque facility and Rs. 250/- with cheque facility.

Things to Consider While Opening a Savings Account

It is advisable to seek the following information from bank before opening the account: Minimum Balance Requirement.

Penal provisions in case the balance falls below the minimum stipulated Amount Penalty in case of return of cheques issued or instruments sent on collection.

Collection facilities etc. offered and charges applicable.

Details of charges, if any for issue of cheque books and limits fixed on number of withdrawals, cash drawings, etc.

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Document Required For Opening a Savings Account

Two passport size photograph

Proof of residence i.e. Passport / Driving licence / Gas/ Telephone/ Electricity Bill / Ration card/ Voter Identity card

An introduction of the person from an existing account holder

PAN number / Declaration in form no. 60 or 61 as per the Income Tax Act 1961

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SAVING PRODUCTS OF AXIS BANK

PRIORITY BANKING - RESIDENT

Presenting Axis Bank's Priority Banking Service. A service that would ensure not only the highest level of priority but also preferential treatment to customers.

BANKING PRIVILEGES TO CUSTOMERS

Priority Banking Lounge:

A Priority banking customer will have access to an exclusive 'Priority Banking Lounge' at branches. This will allow them to conduct their financial transactions in utmost comfort and confidentiality through an exclusive Relationship Manager.

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Dedicated Relationship Manager:

Customers will enjoy access to a dedicated Relationship Manager who will be one point contact at branch for all banking transactions thus ensuring that customers would neither have to move from one counter to the other nor stand in queues to await for the turn.

HOME BANKING :
Experience the convenience of home banking facilities provided by Axis Bank. Avail of free cash and cheque pick-up and delivery at your office or residence.

Exclusive Priority Banking International Debit card :

This card allows customers free access to all VISA ATMs in India. The card also comes with higher ATM withdrawal limits, higher POS transaction limits at merchant establishments, enhanced insurance cover and a host of special discounts and offers.

Other Banking Privileges

Enjoy a host of banking privileges like free at-par cheques, demand drafts and pay orders, free passbook updates and monthly statements.As a Priority Banking customer, there would be no issuance charges on Axis Bank's Travel Currency Card.

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Investment Privileges
Avail of assistance in financial planning. Investment advice, market information reports, and invitations to investor meets are offered complimentary to customers.

Lifestyle Privileges
However, it's not all about just financial services. Banks aim to provide a different Lifestyle experience through Lifestyle privileges like exclusive invitations to movie screenings, plays, music concerts and other special events sponsored by Axis Bank, especially for the Priority Banking Customers.

Gold Credit Card As an added privilege, Priority Banking customers may also apply for a Gold Standard Credit Card and Gold Standard Secured Credit Card without any additional fee, subject to the applicable terms and conditions.

Priority Banking customers would also be eligible for a 50% reduction on the Issuance Fee of Gold Plus Credit Card and Gold Plus Secured Credit Card. Rs. 500 will be charged as the annual maintenance charge for Priority Banking customers, subject to the applicable terms and conditions.

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Eligibility Criteria You can sign up for Priority Banking service by agreeing to any one of the following criteria :

Average quarterly balance (AQB) of Rs. 1 Lakh in your savings account ( this requirement is Rs. 75,000 if in case you have a salary account with Axis Bank) Average quarterly balance of Rs. 5 lakhs in combination of your savings and term deposits (Minimum AQB of Rs. 50,000 in the savings account) Minimum Average quarterly relationship of Rs. 10 lakhs across members of the same family Quarterly Balance of Rs. 80,000 Being maintained in the savings account of each member and the remaining amount in Term Deposits. Minimum average quarterly relationship of Rs. 5 Lakhs in Encash 24 (Flexi Deposits) account. subject to a minimum Average

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PRIORITY BANKING - NRI

Presenting Axis Bank's Priority Banking - NRI Services, especially for NRI Clients. Apart from a specialized Relationship Manager to take care of banking needs, Axis Bank provides Investment and Lifestyle Privileges as well t5o their priority customers.

BANKING PRIVILEGES TO CUSTOMERS

Priority Banking Lounge:
A Priority Banking customer will have access to an exclusive 'Priority Banking Lounge' at Axis Bank branches. This would allow them to conduct their financial transactions in utmost comfort and confidentiality through an exclusive Relationship Manager. Dedicated Relationship Manager: customers will enjoy access to a dedicated Relationship Manager who will be one point contact at the branch for all the banking transactions, who will be in regular touch with the customers to take care of their Banking needs.

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Exclusive Priority Banking International Debit Card: This card allows customers free access to all Visa ATMs in India. Especially for Priority Banking- NRI clients, this card also comes with one Free Transaction per Quarter, at any Visa ATM across the world. The exclusive card also comes with higher ATM transaction limits; higher Point-of-Sale transaction limits at merchant establishments, enhanced insurance cover, Rewards Points scheme and many other facilities.

A Priority Banking - NRI client, get lowered processing fees on Home Loans. Enjoy preferential pricing on foreign exchange rates. Axis bank offers discounted rate of 25% on annual fees for availing our locker facilities.

Remittance Facilities: Customers would also be entitled to exciting benefits on remittances. Axis Bank's commission charges on all inward remittances would also be minimal. Mobile banking facilities are available, which would provide regular updates on transactions into the account. One Free Savings Bank Account would be available to customers relative/nominee resident in India. Enjoy a host of banking privileges like free at par Cheques, Free Demand Drafts and Pay Orders across India, free passbook updates and monthly statements of account.

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INVESTMENT PRIVILEGES Portfolio Investment Scheme: A Priority Banking - NRI client enjoy a 50% rebate on the Annual Fees on opening PIS (Portfolio Investment Scheme) Accounts with the Bank. Avail of assistance in financial planning. Investment advice, market information reports, and invitations to investor meets are offered complimentary to them. Check a sample market information report. Complimentary Tax Advisory Services would also be available. LIFESTYLE PRIVILEGES However, it's not all about just financial services. Axis banks aim to provide a different Lifestyle experience through Lifestyle Privileges. Customers can enjoy exclusive invitations to movie screenings, plays, music concerts and other special events sponsored by Axis Bank from time to time. ELIGIBILITY CRITERIA You can sign up for Priority Banking service by agreeing to any one of the following criteria : Average quarterly balance (AQB) of Rs. 1 Lakh in your savings account Average quarterly balance of Rs. 5 Lakhs in combination of your savings and term deposits (Minimum AQB of Rs. 50,000 in the savings account)

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PRIME SAVINGS ACCOUNT Axis Bank has always strived to pace their products with the growing needs of the customers. The Prime Savings account has therefore been created with the customers specific financial requirements in mind. Wider accessibility As a Prime Savings account holder, customers enjoy access to a wide network of over 825 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. Greater convenience To simplify daily banking, Axis bank Prime Savings account comes with an international photo-signature Debit Card. This unique card comes with withdrawal limit of Rs. 40,000 per day, facilitating transfer of funds, deposits of cash/cheques and payment of insurance premium (LIC). More comfort Through 24 hr Internet Banking and Tele Banking services, customers can enjoy the ease of banking from home or office. Through these comprehensive services, they can access a range of facilities including online funds transfer, requests for a new chequebook, Financial Advisory Services (FAS), online shopping and information on mutual funds. 37

Enhanced privileges The Prime Savings Account eases the banking experience by providing a passbook and monthly statements of account to keep the customers updated on all their transactions and assist them better in managing their finances. Added speed Through the 'At Par' cheque facility, bank provides the unique advantage to encash the cheques as a local cheque at more than 330 centres where the bank has a presence at no extra cost. In addition the account enables the customers to issue cheques up to Rs. 1 lakh, which will be treated as 'At Par' across these locations. The customers can avail of all these services with a minimum average balance of Rs 25,000 in metro/urban/semi-urban centers and Rs 10,000 in rural centers.

PRIME SAVINGS 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 38

International Debit card with an Accidental Insurance cover upto Rs. 2 lakhs (Issuance charge waived) [ To keep your personal accident insurance cover activated, you should have made a purchase transaction in 365 days prior to the day of the incident & should have maintained an average quarterly balance of Rs 5,000 (urban & metropolitan branches) or Rs 2,500 (rural & semi-urban branches) as the case may be in the two quarters before the date of the incident.]*

Increased cash deposit/withdrawal limits at non home branches

Option of automatic movement of excess funds in the savings account to higher earning fixed deposits

Access through more than 671 offices & 2764 ATMs

24*7 Telebanking, Internet banking and Mobile Banking.

*Conditions Apply
PRIME SAVINGS ACCOUNT : DOCUMENTATION To open Prime Savings Account with Axis Bank, you just need to provide:

An account opening form duly filled. 39

2 Latest passport size color 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 documents can be submitted at the branch.

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SENIOR PRIVILEGE ACCOUNT

Because life begins at sixty Axis Bank's Senior Citizen Savings 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 :AXIS BANK dedicated relationship managers are only a phone call away. They can help the customers with all of their banking needs. Be it a simple query or helping customers to manage their finances. Free At-par Cheque book Axis Bank "Senior Privilege" Savings Account holder will receive free "At-par" cheque book, which empowers customers toencash their cheques as local cheques at any of the Axis Bank branch center.

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Free International Visa Debit cards for the primary and the joint account holders A "Senior Privilege" Savings Account with Axis Bank entitles customer to a free International Debit card, which enables them to access their account anytime at more than 2764 ATMs across the country. Customers can withdraw and deposit money and cheques with their debit card. The daily withdrawal limit in an Axis bank is a high Rs 40,000.

Customers can use their debit card to make purchases at merchant establishment. A unique security feature to help safeguard customers hard earned money is the photograph and signature on the face of the debit card. This feature is not followed by all banks.

Free Monthly Statement of Accounts/Free Passbook: Axis Bank privileged customer, would be entitled to a monthly statement of account. The statement would give the detailed information on daily transactions with the closing balances. Customers can also opt for passbook facility, at no additional cost.

Free Issuance of Pay Orders or Demand Drafts drawn on Axis Bank Branches: Get commission-free Demand Drafts and Pay Orders from our branches drawn on Axis Bank branch.

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Free Inward Remittances Funds remitted by the near and dear ones in abroad now get to the customers through Axis Bank correspondent banks for free . Free Outward Remittances once a year Remitting your money out of India is possible for free once a year through Axis Bank correspondent banks.

Faster Credits to Foreign Cheques Funds remitted by your near and dear ones abroad now get to the customers faster than ever.

Free Cheque pickup and Cash pick up services Extended cash and cheque pickup services are provided by Axis Bank free of cost. Customers can also have cash delivered at your residence at a nominal charge of Rs 50 per delivery.

Anywhere Banking Make transactions like cash deposits, cash withdrawal, transfers and clearing deposits from any of the Axis bank branches, all of which are interconnected for customers banking convenience.

Telebanking Axis Bank Telebanking service provides instant access to the accounts. A wide range of services such as Account Information, Balance enquiry, Transaction Details, Status of your Cheques (Available 43

only during branch business hours) and Statement of Account on Fax can be availed over the phone.

Free Mobile Banking Mobile banking enables customers to bank with the Axis Bank through their mobile phone irrespective of where they are. Avail the facility of balance enquiry, debit or credit alerts, last three transaction details and cheque status

iConnect :The concept of "your Bank on your Desktop" is now a reality with iConnect. Customers can look-up the status of their account, request a new cheque book, undertake a range of financial transactions, avail financial advisory services, get information on mutual funds and shop online by just clicking the mouse . Customized Loan Offerings: Fixed Deposits - up to 95% of the FD amt at an interest rate of 2% over the rate of interest of the FD. NSCs/KVPs/LIC Policy - Discounted rate of interest, no processing fees and no pre payment penalty.

Complimentary Financial Planning: Everyone has diverse needs based on their situations, therefore requiring customized solutions. With the help of Axis Banks complimentary investment planning, customers will know exactly what to do with their money to realize their financial objectives.

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Silver Health - Medical Insurance for Senior Citizens: Entry age is 70 years. The medical test (mandatory) is carried out Free of cost only for Senior Privilege.

SENIOR PRIVILEGE: ELIGIBILITY You can avail of a Senior Citizen Savings Account subject to the following criteria Average Quarterly Balance (AQB) TYPE AverageQuarterly Balance (AQB) METRO/URBAN SEMI-URBAN/RURAL Rs. 10000 Rs. 5000 Rs. 5000 Rs. 2500 With FD of 2 Lakh

No penal charges will be levied for non-maintenance of Average Quarterly Balance in the first quarter of account opening.

Person should be a Indian Resident

Age as on date of account opening should be greater than or equal to 60 years.

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SMART PRIVILEGE ACCOUNT For the woman of today In today's busy world it's tough being a working woman. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, Axis Bank has designed a savings account best suited for the woman of today. With the Smart Privilege Account, Women can manage their money and their life and as well as enjoy a host of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that she has enough time for all the important things in life.

Jewellery Insurance on Debit Card

Dedicated Relationship Manager: A Dedicated Relationship Manager will be your one point contact at the Branch for all the banking transactions thus ensuring that customers would neither have to move from one counter to the other nor stand in queues to await for their turn.

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Zero Balance Minor Account

Round-the-Clock access through ATMs: There could be an instance when at 3 am customers could require cash. With bank round-the-clock access they can withdraw cash up to Rs. 40,000 per day, deposit cash/cheques, transfer funds, print a mini statement and pay insurance premiums (LIC), all through the banks ATM channel which is one of the largest ATM networks in the country.

Anywhere Banking:

At-par cheque facility

Monthly Account Statement

Additional discounts on loans

iConnect

Financial Advisory Services : Axis Bank Financial Advisor will assist customers with their financial planning and help them to earn maximum returns on their savings.

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Discount on Retail Purchases: Just live the feeling of walking into a store and getting amazing discounts not available to others. For Smart privilege account holder, Axis bank shall endeavour to provide with discounts at various outlets, periodically. All one have to do is use his/her new Smart Privilege Debit Card and avail of discounts at these outlets. Details of such tie-ups will be sent on a regular basis.

Smart Advantage

SMART PRIVILEGE ACCOUNT : ELIGIBILITY AND DOCUMENTATION Eligibility Criteria

Average quarterly balance of Rs 10,000 for metro and urban locations

Average quarterly balance of Rs 5,000 for semi-urban and rural locations

Documentation Required : To open a Smart Privilege account with Axis Bank, one just need to provide:

Latest Passport size color photographs

Identity Proof

48

Voter ID Card* or Defence /Police/Govt. Dept. ID Card or Pan Card or Driving Licence or Photo Credit Card or Passport OR

A letter from the manager of your existing bank, verifying identity and signature

Address Proof Latest copy of Electricity Bill / Telephone Bill / Bank Account Statement / Credit Card Statement / Insurance Premium Receipt / Letter from Employer certifying address / NSC giving current address / Existing House Lease Agreement

Initial deposit amount of atleast Rs 10,000 & Rs 5000 as the case may be.

Smart Privilege Account : Zero Balance Minor Account Imbibe the significance of regular savings in your child. The Zero Balance Minor Savings Account is a unique feature that all account holders can open for their children .

Features

No maintenance charge.

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Debit card offered to the minor above the age of 12 years ,who can sign uniformely Daily withdrawl limit of Rs. 1500 at ATM

Daily spend limit of Rs. 1000 at merchant outlets

Free Monthly Statement clubbed with the statement of the Smart Privilege Account of the mother.

At par cheque book at nominal cost.

Eligibility for a Minor Account:

Children below the age of 18 years.

The guardian of the minor should be a Smart Privilege Account holder.

Documents required:
Date of Birth proof of the minor

Account Number and Customer ID of your account (Smart Privilege Account)

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Smart Privilege Account : Specially Designed Debit Card The photo signature international debit card comes a host of Enhance privileges

Jewellery Insurance

Inbuilt Jewellery Insurance with card Protection against loss of jewellery due to burglary or fire while at home up to a limit of Rs. 50,000/All risks covered at home

Waiver of 2.5% Petro surcharge

Issuance charge of Rs. 50/- & Annual Charges of Rs. 150/- plus service tax

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Enhanced Accidental Insurance up to Rs. 3 lakhs [To keep your personal accident insurance cover activated, you should have made a purchase transaction in 365 days prior to the day of the incident & should have maintained an average quarterly balance of Rs 5,000 (urban & metropolitan branches) or Rs 2,500 (rural & semi-urban branches) as the case may be in the two quarters before the date of the incident.]*

Daily Withdrawal Limit

Rs 40,000

Daily POS Limit

Rs 50,000

Purchase Protection

Upto 90 days from the date of purchase, goods purchased using the Debit Card is insured against fire, natural calamity, burglary and house-breaking.

Zero Lost Card Liability

Insured for risk of loss due to fraudulent use of a lost/ stolen / missing Debit Card. All you need to do is communicate the loss of your Card by calling Axis Banks 24-Hour Customer Service Number 1860-4258888 (MTNL/BSNL Lines).

* Condition Apply

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Smart Privilege Account : At Par Cheque As our Smart Privilege Savings account holder you will receive a specially designed "At Par" cheque book. Upto Rs 50,000 your cheque will be treated as a local cheque at any of the 209 centers where the bank has a presence, at no extra cost. No hassle of Demand Drafts/Pay Orders henceforth.

Smart Privilege Account : Smart Advantage Smart Advantage is an exclusive insurance cover specially designed for the holders of Special Women's Account that covers woman related diseases. This insurance protects the woman against the risk of serious illness. It gives the policyholder the security of knowing that a guaranteed cash sum will be paid in case she is diagnosed with a life-threatening illness. The insurance is available at a nominal premium to existing Special Women's Account holders.

COVERAGE AND BENEFITS

Critical illness Benefit: 100% of the sum assured would be payable in case the insured is diagnosed with critical illness like Breast Cancer, Fallopian tube cancer, Uterine or Cervical Cancer, Ovarian Cancer, Vaginal Cancer, Paralysis, Multi-trauma, Burns etc.

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Congenital Disability Benefit: 50% of the sum assured would be payable to the insured upon the birth of a child with congenital disabilities like Down's Syndrome, Congenital cyanotic heart disease, Tracheo-esophageal fistula, Cleft palate with or without cleft lip, Spina bifida.

Children Education Bonus: Rs 25,000 is payable for future education of children on the diagnosis of critical illness of the insured

Loss of Job as covered in the policy: Working women would get Rs 25,000 in the event of losing her job within a period of three months of the date of diagnosis of any of the critical illness

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Available at a nominal annual premium based on sum insured and age of the customer

SMART ADVANTAGE Premium Chart Sum Insured (in Rs) Age (in yrs) 21 - 25 50,000 100,000 150,000 200,000 276 414 551 689 26 - 35 414 621 827 1034 36 - 40 41 - 45 759 1137 1516 1895 1102 1653 2204 2755 46 - 50 51 55 1653 2480 3306 4133 2412 3616 4822 6027

(exclusive of Service Tax)

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EASYACCESS SAVINGS ACCOUNT Banking made easy Presenting, Axis Bank's Easy Access Savings Account. The account is an endeavor by the Bank to understand the consumers' needs and redefine banking to suit the requirements for a truly comfortable banking experience. EasyAccess Savings 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 eclectic 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.

EASY ACCESS SAVINGS ACCOUNT : FEATURES At Par Cheque Book

ATM Network

Anywhere Banking 56

Telebanking

IConnect

Mobile Banking

Account Statement

Quarterly Interest

EASY ACCESS SAVINGS ACCOUNT : DOCUMENTATION To open Easy Access Savings Account with Axis Bank, you just need to provide: Two passport size color photographs (latest) for each applicant Introduction related documents: Introduction by an existing Axis Bank customer, whose account is at least 6 months old with a suitable proof of address, or a letter from the manager of your existing bank, verifying identity and signature, or a copy of your passport along with a self-signed cheque, and any one document from each of the following groups: Group I Voter ID Card* or Defence or Police or Govt. Dept. ID Card, or Pan Card or

57

Driving Licence or Photo Credit Card (*along with self-signed cheque).

Group II Latest copy of electricity bill or telephone bill or bank account statement or credit card statement or insurance premium receipt or letter from employer certifying address or NSC giving current address or existing house lease agreement Senior citizens also need to provide a proof of age Foreign residents in India additionally require to submit a photocopy of their passport with valid visa or permit.

ZERO BALANCE SAVINGS ACCOUNT Save at Zero Presenting, Axis Bank's Zero Balance Savings Account. At Axis Bank it has been their constant endeavor 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.

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) 58

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 Telebanking & Internet banking

Free quarterly statements *Conditions Apply

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

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

ZERO BALANCE SAVINGS ACCOUNT : DOCUMENTATIONS

An Account Opening Form duly filled

One latest passport size photograph

Initial cheque of Rs 5,500

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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, and-

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 owing Gold/Platinum Credit Card Proof of owning a house Proof of owning a four-wheeler Latest paid landline phone bill of Rs. 1,500/- or higher Latest Income tax return with Income tax paid of Rs. 1.5 lac and above Professionals (Doctors, CA/CS/Cost Accountant, and Architect) need to submit any one of the above document along with proof of profession.

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SALARY ACCOUNT Power Salute Defence Salary Account from Axis Bank is a product designed keeping in mind how tough a life in the Defence Forces is. With the complete gamut of banking services (including overdrafts, loans and zero balance requirements) customers can now rest assured about their family and all their financial needs. It's Banks way of showing appreciation to their work.

BANKING PRIVILEGES:

At-par Cheque Facility Ones job involves constant transfers across the country. With the at-par cheque facility it will no longer be necessary to set up new bank accounts with each transfer.

Additional Debit Card Along with a free International Debit Card, customers also get a free card for the joint account holder. This means that their child or spouse also enjoy the same benefits of banking with Axis Bank. 61

Financial Advisory Services Banks solutions answer to the twin goals of meeting customers requirements and to diversify and spread the risk of the investment portfolio, so customers can look forward to a comfortable and worry-free life.

POWER SALUTE: PRODUCT FEATURES

1 Balance Requirement 2 3 4 Anywhere Banking Cheque Books International Debit cum No minimum balance Available across the country Free multi-city at-par Cheque Book Free, even to the joint holder Personal

ATM Card (Photo-signature Accident Insurance Cover of upto Rs 2 card) lacs per cardholder [To keep your

personal accident insurance cover activated, you should have made a purchase transaction in 365 days prior to the day of the incident & should have maintained an AQB of Rs 5,000 (urban & metropolitan branches) or Rs 2,500 (rural & semi-urban branches) as the case may be in the two quarters before the date of the incident.]* Cash withdrawal of upto Rs 40,000 daily Purchase protection and Zero Card Liability International Accepted at 9,00,000 ATMs and 22 million merchant establishments worldwide

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Computerized Statements

Free on a quarterly basis Free monthly statements on e-mail (Customer has to register for Internet Banking) Available Available subject to terms and conditions

6 7

Joint Account Facility Flexi(2-in-1) Encash Deposits* Demand Drafts

Free Demand Drafts drawn on Axis Bank Upto 50% of net salary at Personal Branches without any restrictions Loan rates* Free collection, only out-of-pocket expenses to be recovered Available

Overdraft Facility

10 Outstation Cheques

11 Demat Account

12 Financial Advisory Services Free with daily electronic updates 13 Power Loans* Power Homes Housing Loans Personal Power Personal Loans Study Power Educational Loans Consumer Power Consumer Loans Power Drive Vehicle Loans

14 Optional Gold Debit Card 15 Credit Cards 16 Online Trading

Access to any Bank ATM Available Available

17 Built-In Insurance (Medical Unique facility of availing Insurance option and Burglary) scheme in built in the account available

63

18 Built-in SIP scheme

Unique facility of availing SIP option in built in the account available Reduced balance criteria for availing Priority Banking that entitles you to exclusive banking and lifestyle privileges Available as iConnect with enhanced features like free bill payments (eg, electricity bills) and electronic payment of premiums (LIC Insurance Premium) at select centers Free (available for 24 hours at select centers) Available Available Transfer funds from your Salary Power account to any bank account in India free of charge. other 6 free inter-city cash deposit per quarter

19 Priority Banking

20 Internet Banking

21 Telebanking 22 Mobile Banking 23 Nomination Facility 24 Fund transfer facility

25 Cash deposits branches 26 Meal Card

in

The best substitute for

the traditional

Sodexo/Accor Meal coupons/vouchers. 27 Gift Card Prepaid, Rupee Denominated, Non Reloadable card - Ideal for Gifting.

Note: Power Salute is a special account offered to customers with regular direct salary credits coming into this account. In case, the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under Power Salute account shall stand withdrawn and the account shall be treated as Normal Savings Account under our standard charge

64

structure and all charges shall be levied and applied as applicable to normal savings accounts. * Conditions Apply

POWER SALUTE : ELIGIBILITY

Personnel from the following forces are eligible for this account. Retired personnel can also avail of the mentioned benefits as long as the account has been opened when in active service.

Personnel of Army, Navy, Air Force and the Coast Guard.

Paramilitary Services (BSF, CRPF, NSG, NCC, Territorial Army)

Retired and Short Service Commission officers would also be eligible provided the accounts are opened while they are in active service.

Civilians posted at Defence establishments like training schools, canteens, etc. on a permanent basis.

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CORPORATE SALARY ACCOUNT Axis Bank Corporate Salary Power Offering is designed to offer payroll solutions through in a 24 X 7 environment.

BENEFIT TO EMPLOYERS Efficient salary disbursal.

Web Upload - Transfer salaries/reimbursements directly from customers current account with Axis Bank to their employee's accounts using I Connect.

Single-instruction salary credit - Same day salary credits for all companies having Corporate Account with Axis Bank.

Dedicated Relationship Manager at metro locations to understand the financial requirements of the employees.

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BENEFIT TO EMPLOYEES

No minimum balance criteria.

Unparalleled Access - Anywhere banking facility through banks network of Branches, Atm and Internet banking facility.

AT Par chequebooks payable locally at all Axis Bank locations.

International Debit cum ATM cards with enhanced Cash withdrawal facility and other value add ons.

Online Banking with funds transfer, online shopping and bill payment options.

Depository services with free online trading accounts.

Meal Cards on a master card platform.

Employee Reimbursement accounts as a savings account variant.

Preferential pricing on loan products and credit cards and other banking products & services*.

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CORPORATE SALARY ACCOUNT : ELIGIBILITY

Axis Bank Salary Power Offering is made for companies/ corporates/ government departments/defence establishments wherein the minimum number of employees is 10. Axis Bank has three Product offerings, depending on the payout commitments made by the concerned company and a single product offering for all defence establishments.

Salary Power Plus - Average Payout / Employee is between Rs 7500/ - Rs 9999/-

Salary Power Privilege - Average Payout / Employee is between Rs.10000/ Rs.24999/-

Salary Power Premium - Average Payout / Employee is Rs.25000/- & above.

Power Salute - Only for Defence Establishments

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KRISHI SAVINGS ACCOUNT

Kheti Ho Khushhali Ki Axis Bank offers a unique savings 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 Savings Account.

KRISHI SAVINGS ACCOUNT: FEATURES

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

International Master Debit Card The Krishi Savings 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. 69

At Par Cheque Book Krishi Savings Account comes with the At-Par Cheque facility. This facility enables customers to encash the cheques as local instruments at any of the 440 centres where the Bank has its presence, at no extra cost. Moreover, customers can also issue cheques at other centers upto the limit of Rs 50,000. *Conditions Apply

KRISHI SAVINGS ACCOUNT: DOCUMENTATION The KYC documentation required would be as under: For the purpose of address proof and identity proof obtaining a single document with photo identity and address (like election identity card) will suffice, provided the address mentioned in the document is the same as the present place of residence of the customer. In cases where documents like Election Commission identity card is not available, a letter from a recognized public authority or a government servant like Talati /Patwari or similar revenue official may be obtained duly complying with the following: 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.

70

 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 Savings 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

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.

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Trust/NGO Savings Account

Thoughtful banking for people who spend their lives thinking of others Axis Bank's Trust Account is an effort to offer thoughtful banking for people who spend their lives thinking of others. It is a complete banking solution for Trusts, Associations, Societies, Government Bodies, Section 25 companies and NGOs, so that the organizations can devote all of their time to their noble motivations.

BENEFITS

Timely communication to the customer on receipt of the PPO

No delays in commencement of pension disbursals - The Bank is handling the disbursement of Pension under a Centralised Pension Disbursement Module wherein the Pensioner records are credited centrally through its CentralisedPension Payment Hub (CCPH) at Mumbai.

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Timely issue of Form- 16A for tax deducted at source in the immediately previous financial year

Timely revisions based on changes in rates of Pension or Dearness Allowance, done centrally from the CCPH

PENSION SAVINGS ACCOUNT: FEATURES

Zero Balance Savings Account

Anywhere Banking - Available at all centres

Free Multi-city At Par Cheque Books

International Debit-cum-ATM Card - Joining Fee & Annual Fee applicable

Personal Accident Insurance Cover of Rs. 2 lakh

Internet Banking - Available through "iConnect"

Tele-banking - Free, Available 24 hours at select centers

Mobile Banking Facility

73

Demat Account - Account opening charges waived

Safe Deposit Lockers - Preferential allotment *Conditions Apply

PENSION SAVINGS ACCOUNT : ELIGIBILITY

All employees of central government and civil ministries who are covered under the Central Government Civil Pension Scheme operated by Central Pension Accounting Office, Department of Expenditure and Ministry of Finance.

All employees of Armed Force (Army, Navy & Air Force) under Ministry of Defence who are covered under the Defence Pension Scheme operated by Pension Sanctioning Authority/Defence Unit.

All the employees of an establishment with workforce strength of more than 20 (including contract employees) and who have opted to be members of the EPS 95 scheme.

Existing members of "Member of Employees" Family Pension Scheme.

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The identity of the Pensioner is to be established through Pension Payment Order (PPO) issued by the concerned Pension Paying Authority

PENSION SAVINGS ACCOUNT : PROCEDURE & OPERATION

The Pension Savings Accounts can be Single or Joint Bank Accounts. Pension is not permitted to be paid by cash, however, Standing Instructions may be accepted and chequebook may be issued.

For prospective Pensioner's

This facility can be availed by opening a Pension Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the Pay & Accounts Office (PAO) of the concerned Central Govt. Civil Ministry/ Departments or Pension Sanctioning Authorities (PSA's) in case of Defence Units prior to retirement. In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pay & Accounts Office of the concerned Central Govt. Civil Ministry/ Department or Pension Sanctioning Authorities (PSA's) in case of Defence Units prior to retirement.

75

For existing Pensioner's

This facility can be availed by opening a Pension Savings Bank Account with any authorized Axis Bank Branch and thereafter following the necessary procedures prescribed by CPAO (in case of Central Govt. Civil Ministries/ Departments) or Ministry of Defence for change of Bank for Pension Account for receiving/ drawing pension.

76

AZAADI - NO FRILLS ACCOUNT

Basic banking with zero balance Presenting, Axis Bank's Azaadi Account. A savings account that doesn't require a minimum balance. Experience a host of unparalleled features and heightened convenience with Azaadi Account.

YOU QUALIFY FOR AZAADI IF

The sum total of all credits to your account does not exceed Rs 1 lac during the Financial year,

You do not intend to maintain an account balance higher than Rs 50,000 at any given instant, and

You are unable to furnish full documentation as required ordinarily for fulfilling of account opening norms

77

PRODUCT FEATURES

Zero Balance Savings Account: No need to maintain a fixed, mandatory amount in yours account.

Instant Welcome Kit: Handed over to you at the time of account opening, the kit will consist of your account number, debit card, debit card PIN, internet banking PIN and phone banking PIN numbers.

International Debit Card: Which gives you access to over 1,800 ATMs across the country, enabling you to make deposits or withdraw cash at any time of the day or night.

Phone Banking and Internet Banking: You can conveniently check your balance, transaction details etc. anytime from anywhere over telephone or using the Internet, for no extra charge. Conditions Apply

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DATA ANALYSIS
COMPARATIVE ANALYSIS OF SAVINGS PRODUCTS

BASIS OF DIFFERENCE

AXIS BANK

HDFC BANK

SBI

WELCOME KIT

Compulso ry issue

Compulso ry issue Rs. 5000

On demand

MINIMUM BALANCE

Rs. 5000

Rs. 1000

PASS BOOK a) ISSUE OF PASSBOOK On demand On demand Compulsory issue

b) PASSBOOK CHARGES

No Charges

No Charges

No charges

c) IF DUPLICATE

No charges

Rs. 120

Rs. 75

d)

E STATEMENTS

CHEQUE BOOK a) ISSUE OF LOCAL CHEQUE BOOK b) NO. OF FREE LEAF c) CHARGES X X X X X X Rs. 20 Rs. 2 per leaf

79

CHEQUE BOOK AT PAR a) ISSUE OF CHEQUE BOOK AT PAR

b)

NO. OF FREE LEAF

20per quater

100 per f.y

c) CHARGES

Rs.10 P/Leaf

Rs. 10 P/Leaf

Rs. 5 Per Leaf

d)

CHEQUE RETURN CHARGES Rs. 350

Rs. 250

Rs. 30

DEPOSITS/WITHDRAWL CHARGES 1) For home branch a) CASH DEPOSIT CHARGES b)

X X X X X

CASH WITHDRAWL CHARGES X

2) For other branch a) CASH DEPOSIT CHARGES

Rs. 100 p/transactio n.

Rs.100 p/transactio n

Rs. 25 per transact ion Rs. 25 per transact ion Rs. 20 per transact ion

b) CASH WITHDRAWAL CHARGES

Rs. 100 p/transactio n X

Rs.100 p/transactio n Rs. 30 p/transactio n

c) CHEQUE DEPOSIT CHARGES

SERVICES CHARGES Rs. 107 p/a a) ATM/DEBIT CARD b) NET BANKING Free Free Free Rs. 260 p/a Rs. 50 p/a

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c) SMS BANKING

Rs.150/-per annum

Rs. 4.5 p/sms

Rs. 3 per/sms

d)

TELE BANKING X

Above 1 lakh e) DOOR TO DOOR BANKING

Above 1 lakh X

f)

RELATIONSHIP MANAGER

If more than 20 staff members in the branch.

ADDITIONAL INFORMATION a) NO. OF BRANCHES b) NO. OF ATM < 838 3674 < 2000 5000 11,580 15000

MY ANALYSIS FROM THE QUESTIONNAIRE CAN BE SUMMED UP AS FOLLOWS:

Total number of customers who filled the questionnaire are 50. 17 of them belongs to SBI, 17 OF Axis bank and rest of 16 customers from HDFC bank.

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1) If given an option, which bank will you prefer to deal with as a customer?

DEALING
4% 4% 3% bank of baroda 36% standard charted a bank 31% axis bank hdfc bank sbi

22%

Among the total customers, 36% customers are in favour 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 favour this bank for banking activity. Thus, giving tough competition to SBI. 22% customers are in favour of HDFC Bank. Bank of Baroda, Standard chartered and Karnataka bank are also preferred by some customers.

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2) In terms of savings bank account opening, which bank would you prefer?

Saving Bank Accuont

2% 3% Axis Bank BOB 34% HDFC ICICI SBI 4% Standard Charted Allahabad Bank 25%

30%

2%

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.

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

service in saving accuont

1% 4% 8% ATM/Debit card Internet Banking 45% 32% cheque book at par mobile banking door step banking relationship manager

10%

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 savings 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.

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4) Which bank as per your experience provides the best customer service when you personally visit the bank?

Best Customer Service

2% 2% 6% 32% Axis bank HDFC 30% SBI BOB Karnataka bank ICICI 28%

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.

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5) What average balance account services you usually avail from your existing bank?

Average balance account service

2%

20%

22%

greaterthan or equal to1000 Equal to less than Rs. 5000 Equal to less than Rs. 10000

14%

Equal to or less than Rs. 25000 Equal to or less than Rs. 100000

42%

Equal to or less than 5000 ---- 42% Greater than or equal to Rs. 1000 ---- 22% Equal to less than Rs. 25000 ---- 20% Equal to or less than Rs. 10000 ---- 14% Equal to or less than Rs. 100000 ---- 02%

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

ATM
4% 6%

2% 4%

36%

Axis Bank HDFC SBI BOB

22%

Standard charted ICICI PNB

26%

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.

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7) If you are using Net Banking, then what are the services you use?

Net Banking Services

7% 7% Fund Transfer same bank 14% 19% fund Transfer other bank Bill payments cheque book request DD/pay order payment Portfolio Management 12%

41%

Majority of customers said that they use internet banking mostly for making bill payments. Thus 41% customers use this service in internet banking. The second and third preferences of the customers are cheque book request and fund transfer-other bank. Fund transfer-same bank, DD/Pay order request and portfolio management/investment services are also used by some customers.

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8) Which is the most customer friendly bank, in terms of charges, as per you?

Customer Friendly bank,in terms of charges

3% 4% 26% Axis Bank HDFC SBI 34% BOB Karnataka bank ICICI

3%

30%

Among the total customers, 34% customers are in favour of SBI. They think that in comparison of other banks, SBI charges are less. Thus they prefer to deal with this bank. The second preference of the customers is HDFC Bank and 30% customers think that their charges are less. Thus they are satisfied with the charges charged by the bank. The third preference is Axis bank. 26% customers are in favour of this Bank. Thus bank should adopt flexible approach in charges and the charges should be charged according to the customers reputation, competition and other factors so that they do not loose any genuine customer due to these unfair charges.

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9) Are all the bank charges informed to you at the time of savings bank account opening?

Informationof Bank charges

46% 54%

YES NO

Among the total customers, 54% customers said that they are being informed by the bank about all the charges at the time of savings bank account opening, while rest of 46% customers disagree about this.

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10) If you have to do an investment, which bank would you consult for portfolio management?

Portfolio Management
5% 10% 36% Axis Bank HDFC SBI BOB ICICI 22% Allahabad bank

7%

20%

Among the total no. of customers, 36% said that they prefer Axis Bank for portfolio management which shows their firm belief in this bank. The second and third preferences are SBI and HDFC Bank. 22% customers are in favour of SBI and 20% are in favour of Axis Bank. 10% customers said that ICICI is also providing attractive schemes, so they would like to go with this bank.BOB and Allahabad bank is also preferred by few customers.

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11) According to you which bank provides, zero balance account facility to low income level group of customers (annual earning < Rs. 50000)

Zero balance account facility

4% 23% Axis bank HDFC SBI 10% BOB Standard charted ICICI 55%

4% 4%

Majority of customers said that SBI provides this facility to low income level group of people. 23% customers felt that Axis bank also provides this facility to customers.10% customers is in favour of HDFC Bank. Rests of the customers are in favour of ICICI Bank, BOB and Standard Chartered

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12) Kindly rate the below mentioned banks as per the ambience and infrastructure facilities provided to the customers?

Rating of banks on the basis of ambience & infrastructure

7% 13% Axis bank 42% HDFC SBI ICICI 23% PNB

16%

42% people said that AXIS BANK is the best 23% people said that SBI is the best 16% people said that HDFC is the best 13% people said that ICICI is the best 6% people said that PNB is the best

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CHAPTER 4
FINDINGS, CONCLUSIONS AND SUGGESTIONS

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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.

I have found 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 my 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.

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CONCLUSION

My topic A DETAILED ANALYSIS OF SAVINGS ACCOUNT IN AXIS BANK LTD. AND ITS COMPARISON WITH OTHER BANKS [ SBI AND HDFC ] is basically concerned about the savings products offered by AXIS BANK. I have gone through these entire savings product, their features and services during my research. I have also compared these savings products of Axis Banks with HDFC Bank AND STATE 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 my research.

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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.

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ANNEXURES QUESTIONNAIRE NAME: AGE:... OCCUPATION: 1. If given an option, which bank will you prefer to deal with as a customer? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other_____

2. In terms of Savings bank account opening, which bank would you prefer? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other_____

3. What are the services you use of a bank, in Savings account? a) ATM/Debit Card c) Cheque book at par e) Door step banking b) Internet Banking d) Mobile banking f) Relationship manager

4. Which Bank as per your experience provides the best customer service when you personally visit the Bank? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other_____

5. What average balance account services you usually avail from your existing bank? a) < = Rs. 1000 c) = > Rs.10000 e) = > Rs. 100000 b) = > Rs. 5000 d) = > Rs. 25000

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6. Which Banks ATM you use the most, for cash withdrawal? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other____

7. If you are using Net Banking, then what are the services you use? a) Fund Transfer same Bank b) Fund Transfer Other Bank c) Bill payments ` e) DD/ Pay Order request d) Cheque book request f) Portfolio Mgmt. or Investment Services 8. Which is the most customer friendly Bank, in terms of charges, as per you? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Others_____

9. Are all the Bank charges informed to you at the time of Savings Bank Account opening. a) Yes b) No

10. If you have to do an investment, which Bank would you consult for Portfolio Management? a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other_____

11. According to you Which Bank provides, zero balance account facility to low income level group of customers? [annual earning < Rs. 50000] a) Axis Bank Ltd. c) SBI b) HDFC Bank d) Other_____

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12. Kindly rate the below mentioned banks as per the ambience and infrastructure facilities provided to the customers? NOTE: In Ranking 1 being the Best and 5 being the last preference. a) Axis Bank Ltd. b) HDFC Bank c) SB I d) ICICI e) PNB [ ] [ ] [ ] [ ] [ ]

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