Download - Axis Bank Final Prtoject

8/10/2019 Axis Bank Final Prtoject

1/82

1 | P a g e

A

PROJECT REPORT

ON

AXIS BANK

PROJECTS AND SERVICES

SUBMITTED TO UNVERSITY OF MUMBAI

INPARTIAL FULFILLMENT FOR THE AWARD OF

THE DEGREE OF BACHELOR OF COMMERCE

(BANKING AND INSURANCE)

SEMISTER V 2014-2015

SEAT NO (1083179)


2/82

2 | P a g e


3/82

3 | P a g e

A

PROJECT REPORT

ON

AXIS BANK

PRODUCTS AND SERVICES

SUBMITTED TO UNVERSITY OF MUMBAI

INPARTIAL FULLFILLMENT FOR THE AWARD OF

THE DEGREE OF BACHELOR OF COMMERCE

(BANKING AND INSURANCE)

SEMISTER V

(SEAT NO:-1083179)

BY

PRATAP .D. MEDATIYA

THE S.I.A COLLEGE OF HIGHER EDUCATION


4/82

4 | P a g e

The SIA College Of Higher Education.

P88, MIDC Residential Area Dombivli Gymkhana Road,

Near Balaji Mandir, Dombivli (East).421 203.

Email: [email protected]

CERTIFICATE

This is to certify that,

Mr.Pratap .D. Medatiya

Student of TYBCOM (Banking and Insurance V) 2014-2015

Seat No.1083179 has successfully completed his Project

Work ON PRODUCT AND SERVICES OF AXIS BANK under

the guidance of PROF. BABITA NAGDEV as per Mumbai

University syllabus.

COURSE CO-ORDINATOR PROJECT GUIDE

EXTERNAL EXAMINER PRINCIPAL


5/82

5 | P a g e

INDEX OF AXIS BANK

CHAPTER NO CONTENT PAGE NO01 INTRODUCTION OF AXIS BANK

History

Vision & mission

PRODUCT AND SERVICES OF AXIS

BANK

PERSONAL BANKING

AGRICULTURAL BANKING

NRI BANKING

11-12

13-14

15

16

17-50

51-56

57-64

02 RESEARCH METHODOLOGY 65-68

03 DATA ANALYSIS &

INTERPRETATION69-75

04 CONCLUSION

QUESTIONAIRE

BIBILOGRAPHy

76-77

78-79

82


6/82

6 | P a g e

About the project

Title of study

The present study titled is financial services provided by bank .The study is

made by reference to Axis Bank and its product and services given to

customer

Object of the study

To study the financial product provided by bank.

To study the customer satisfaction relation to financial product provided

by bank.

To study awareness of financial services among the customer of the

bank

DATA AND METHODOLOGY

For the purpose of the present study both primary as well as secondary data

are used .primary data is collected through questionnaire .secondary data is

collected through books, website, journal, Magazine etc.


7/82

7 | P a g e

PREFACE

Axis Bank is today one of the most competitive & profitable banking

franchise in India as can be clearly depicted by the analysis of its portfolio of

banking services. The bank has launched several for various categories of

consumers to enhance its deposit mix. This project deals with this aspect

especially product and services.

The project has been prepared and is presented under various heading

as introduction, organization profile, research objective & scope of research

project etc.


8/82

8 | P a g e

ACKNOWLEDGEMENT

I would like to take this opportunity to express my gratitude towards our

principal DR. Padmaja Arvind. Project guide Prof. BABITA NAGDEV all those

who have, in various ways, helped me in the completion of this project. For

guiding me right from the inception till the successful completion of the

project.

I sincerely acknowledge her for extending her valuable guidance, support for,our college librarian Mrs. Bharathi Rao for her support in issuing reference

materials .I am grateful and earnestly express my heartfelt thank to my parent

and friend who have helped me any manner.

Signature of student


9/82

9 | P a g e

Declaration

I, Mr. pratap medatiya student of T.Y.(BBI) presenting the viva presentation of

semester v (2014-2015) of The S.I.A. COLLEGE OF HIGHER EDUCATION

hereby declare that ,I have completed the project work titled

Axis Bank and its product and services as a part of my academic fulfillment.

The information satisfactory in this project work is true and original to the best

of my knowledge and belief.


10/82

10 | P a g e

Logo of Axis Bank


11/82

11 | P a g e

CHAPTER 1

Introduction


12/82

12 | P a g e

INTRODUCTION OF AXIS BANK

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. 359.76 corers with the

public holding (other than promoters) at 57.79%.The Bank's Registered Office

is at Ahmadabad and its Central Office is located at Mumbai.

The Bank has a very wide network of more than 853 branches and Extension

Counters (as on 30th June 2009). The Bank has a network of over 3723ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to

its 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.


13/82

13 | P a g e

HISTORY OF AXIS BANK

Axis Bank established in 1993 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 fourPSU 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 as on 30th June, 2011 is capitalized to the extent of Rs. 411.88

crores with the public holding (other than promoters and GDRs) at 52.87%.

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 Bank's Registered Office is at Ahmadabad and its Central Office is

located at Mumbai. The Bank has a very wide network of more than 1281

branches (including 169 Service Branches/CPCs as on 31st March, 2011).


14/82

14 | P a g e

The Bank has a network of over 6270 ATMs (as on 31st March, 2011)

providing 24 hrs a day banking convenience to its 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.

Axis Bank entered a deal in November 2010 to buy the investment banking

and equities units of Enam Securities for $456 million.

Axis Securities, the equities arm of Axis Bank, will merge with the investment

banking business of Enam Securities. As per the deal, Enam will demerge its

investment banking, institutional equities, retail equities and distribution of

financial products, and nonbanking finance businesses and merge them

with Axis Securities.


15/82

15 | P a g e

VISION OF AXIS BANK

To be preferred financial solutions provider excelling in customer delivery

through in sight empowered employees and smart use of technology

Mission of Axis Bank

Customer service and product innovation tuned to diverse needs of

individual and corporate clientele.

Continuous technology up gradating while maintaining human values.

Progressive globalization and achieving international standards.

Efficiency and effectiveness built on ethical practices.

Customer Satisfaction through providing quality service effectively and

efficiently.

Core Values OF Axis Bank

Smile, it enhances an individuals face value is a service quality

stressed on Periodic Customer Service Audits.

Maximization of Stakeholder value.

Success through Teamwork, Integrity and People.


16/82

16 | P a g e

Axis Bank offers its Services

Majorly in Three parts:

01:- Personal Services

02:-Agricultural services

03:-NRI Services


17/82

17 | P a g e

01:-Personal Banking services

provide by Axis Bank

Axis bank offers various services for individual domestic customers, which

includes services like

1. Accounts

2. Deposits

3. Loans

4. Cards

5. Forex

6. Investments

7. Payments

8. Other service


18/82

18 | P a g e

01:-The Accounts offered by

Axis Bank for its customers are:

SAVING ACCOUNT OFAXIS

BANK:-

1. Easy Access Savings Account:-

Easy Access Savings Account gives instant access to customers money

anywhere, anytime. Possessing a range of unmatched features, it has

been devised to better suit the convenience of our eclectic client base.

These services can be availed with a minimum quarterly average balance

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

2. Prime Savings Account:-

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

Free cash withdrawal up to 5 transactions at other bank ATM's.

Free monthly statement of account Free DD/PO (drawn on Axis Bank Centers)

Free Passbook


19/82

19 | P a g e

International Debit card with an Accidental Insurance cover up to Rs. 2

lakhs (Issuance charge waived) [To keep personal accident insurance

cover activated customer 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 1000 offices & 4055 ATMs

24*7 Telebanking, Internet banking and Mobile Banking

Free monthly e-statement

3.Womens Savings account (smart privilege account):-

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 have designed

a savings account best suited for the woman of today.

With the Smart Privilege Account, customer can manage their money and

their life and as well as enjoy a host of lifestyle privileges. FurthermoreAxis Bank's Smart Privilege Account ensures that customer have enough

time for all the important things in life.


20/82

20 | P a g e

4.Trust/NGO Savings Account:-

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 organisations can devote all of their

time to their noble motivations.

5.Pension Savings Bank Account :-

This account from Axis Bank, is specifically, designed for Pensioners

(Existing & Prospective) of Central Govt. Civil Ministries/ Departments &

Defence Ministry keeping in mind the fact that a Pensioners banking

requirements are wholly different and requires special consideration.


21/82

21 | P a g e

CURRENTACCOUNTOF

AXIS BANK:-

FOR NORMAL CONSUMER

1. NORMAL CURRENT ACCOUNT:-

Axis Bank have normal current account gives customer

the optimum For their money. At monthly average

income (MAB)of RS 10000*,customer account

balance takes you into new world of banking .

2. LOCAL CURRENT ACCOUNT:-

Small business rising on the growth graph needs the right kinds

of nurturing and appropriate solution for growing balance

requirement .Recognizing the needs .Axis Bank geared

to answer all kinds local business requirements.


22/82

22 | P a g e

CURRENT ACCOUNT FOR

INDUSTRY

1. Current account for Govt organization:-

The government organization /bodies (central Gov/state Gov/local Gov) are

offered current account with no minimum balance stipulation and host of

other services without any charge as under.

2. Current account for capital market:-

The current account product for broker comes with wider choice of variants

and customer may choose the variant which suits you the best.

3. Business global current account:-

Current account for exporter /importer with dynamic features that satisfies

their banking needs for both domestic & foreign transaction.


23/82

23 | P a g e

4. PHARMA for current account:-

With a combination of high quality medicine production & competitive

costs, the Indian pharmaceutical industry continues to clock records

growth levels among its peer market .In order to services the banking

needs key player of this unique industry Axis Bank brings customer the

current account for pharma ---a one of its kinds banking product for the

following entities in Indian pharmaceutical industry.

Distributors

C& f agents , wholesaler , stockiest

pharmacists


24/82

24 | P a g e

Get Salary Account for consumer

1. Easy to access salary account:-

Easy to access salary account power your payroll account with the benefit of

easy access with a hoist of benefit provided by this account

Zero minimum opening deposit and zero quarterly balance

requirement.

4%rate of interest on daily balance, paid quarterly.

Internet and mobile phone access (on mobile phone )

02. Defence salary account:-

Axis Bank is proud to be the banking partner of the brave men and women

who defend our nation. Especially for them, Axis Bank has created a salary

account that understands their life in defence forces

Zero minimum opening deposit and zero average quarterly

balance requirement

4% rate of interest on daily balances, paid quarterly

Access to over 11,500 Axis Bank ATMs and 2300 branches free

of cost

Internet and Mobile Banking access (on all mobile phones).

Unlimited free cash withdrawals on Axis Bank ATMs and Other

Bank ATM


25/82

25 | P a g e

02:-Deposits offered by AxisBank:

1.Fixed Deposits:-

Axis Bank offers simple reinvestment Fixed Deposits (at very

competitive interest rates), which can be opened with a minimum

investment of Rs 10,000. Customers can make additions to customer

deposit in multiples of Rs 1,000 each. The tenure of their deposit must

be a minimum of 6 months.

2. Recurring Deposits

Axis Bank's Recurring Deposit scheme will allow customer with an

opportunity to build up your savings through regular monthly deposits of

fixed sum over a fixed period of time.

Features

Recurring deposits are accepted in equal monthly installments of

minimum Rs 1,000 and above in multiples of Rs 500 thereafter.

The fixed numbers of installments for which a depositor can opt are

12, 24, 36, 39, 48, 60, 63, 72, 84, 96, 108 and 120 months.

Transfer of Accounts - a recurring deposit account can be transferredfrom one office of the Bank to another branch.

The amount of installment once fixed, cannot be changed.


26/82

26 | P a g e

Installment for any calendar month is to be paid on or before the last

working day of the month. Where there is delay in payment of

installment, one can regularize the account by paying the defaulted

installment together with a penalty (at present it is @ PLR plus 4 % for

the period of delay).Fraction of a month will be treated as full month

for the purpose of calculating the penalty.

The total amount repayable to a depositor, inclusive of interest,

depends on the amount of monthly installments and the period of

deposit.

3. Encash 24

The Encash 24 (Flexi Deposit) gives the liquidity of a Savings

Account coupled with high earnings of a Fixed Deposit. This is

achieved by creating a Fixed Deposit linked to your Savings Account

providing you the following unique facilities:

Maximum Returns:

Customers money is no longer idle. As soon as the balance in

customer Savings Account crosses over Rs 25,000, the excess, in

multiples of Rs 10,000 will be transferred automatically to a higher

interest earning Fixed Deposit Account. The maturity of fixed or term

deposits formed as a result of transfer of money from the Savings Bank

account will be for a maximum period of 181 days and the interest willbe calculated on simple interest rate basis.

Maximum Liquidity:


27/82

27 | P a g e

The money parked in Fixed Deposits as a result of the above

mentioned sweep out from customer Savings account can be easily

accessed by issuing a cheque, withdrawing through ATM etc. This

amount is automatically reverse swept from the most recently formed

Fixed Deposit in units of Rs 5,000 to the Savings account whenever the

balance in your Savings account falls below Rs 25,000. The amount

broken form customer Fixed Deposit will earn interest rates at the

applicable rate for the period that the deposit was held with the Bank.

The remaining amount of Fixed Deposit will continue to earn the

contracted rate of interest.

4. TAX SAVER DEPOSIT

In the Finance Bill of 2006, the government had announced Tax

benefits to Bank Term Deposits which are of over 5 year tenure u/s 80C

of IT Act, 1961 vide Notification Number 203/2006 and SO1220 (E)

dated 28/07/2006.

The salient points of the scheme notification are;

(a) Fixed tenure without premature withdrawal.

(b) Year is defined as a financial year.

(c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum.

(d) Bank will issue a Fixed Deposit Receipt that shall be the basis of

claiming tax benefit


28/82

28 | P a g e

03:- Loans Offered by Axis Bank:

1. Home Loan:-

Axis Bank offers affordable and flexible housing loans that can turn your

dream of owning a home into reality

Axis bank gives home loan with attractive interest rates and minimal

processing fees make our home finance product a first choice for customer

Axis Bank have product to suit ever budget, taste and needs

Features:-

Axis Bank provides attractive interest rates that make customer

hoi hosing loans affordable and easer on customer pocket every

month.floating rate options depending on which way customer

think interest rates are moving.

Customers donthave to go the bank for Home Loans; the bank

will come to your doorstep.

=


29/82

29 | P a g e

2. Car loan

Axis Bank offers uniquely tailored Car Loan products that take the pain

and hassle out of buying a car. Flexible, transparent, quick, and cost-effective, our Car Loans put the joy back into owning a car

Axis Bank, customer realizes that owning a car has increasingly

become a necessity. Customer also realize that the price tag of

customer dream car may be just outside his reach . Axis Bank's Auto

Loans are just what customer need to bridge the gap. Loans offered

from Rs. 1 Lakhs onward.

Sr. No Type Loan

amofunt

Base Rate

+ Mark Up

Effective

Rate Of

Interest

1 FloatingRate

Loans up toRs.75 Lac

Base Rate +0.00%

10.25% p.a.

Loans

above Rs.75

Lac

Base Rate +

0.25%

10.50% p.a.

Top Up Base Rate +

2.00%

12.25% p.a.

BASE RATE - 10.25

Loan

amount


30/82

30 | P a g e

Features of car loan

Calculate customerCar Loans tenure from 1 year to 7 years

Monthly outgo with our Car Loan EMI Calculator\

Attractive interest rates on Car Loans

Interest charges CAR LOAN INTEREST RATE

The Axis Bank interest rates are among the most attractive Car Loan rates in

India today. Our auto loan rates ensure that you have to pay less every

month.

Rates of Interest Processing Fee* Documentation

Charges*

11.50% Rs. 3500 to Rs. 5500 Rs.300/-


31/82

31 | P a g e

3. Loan against Gold

Loan against Gold Ornament

Same Day Loan Disbursement Safety of Gold at Axis bank vaults

Rate of Interest - 14.5% - 15.5%

Processing fee and foreclosure charges

Valuation charges

Valuation charges

0.25% of loan amount for

fresh cases

NIL for renewal cases

Other Charges

Options Processing / Renewal

Fee

Fore closure charges

Option 1 1% Nil

Option 2 0.50% 1%

Part Payment charges NIL

Penal Interest 2% On overdue amount


32/82

32 | P a g e

4.Loan against Property:-

Apply for Axis Bank's Loan Against Property. Axis bank will give customera

loan against your property. Be it commercial or residential. Customer can

also apply for this loan if they need funds to acquire new property.

Attractive interest rates

Door steps services

Loan against propertyresidential

Loan against property - Commercial

Loan for purchase of commercial property.

Take-over of existing loan with additional refinance (Balance Transfer)

Lease rental discounting

Interest charges


33/82

33 | P a g e

INTEREST RATES:

** Base Rate - 10.25%, effective from 23rd August, 2013

Base Rate + Markup Effective ROI

(floating)

Loan Against Property Base Rate + 3.00% 13.25%

Purchase Of

Commercial Property

Base Rate + 3.00% 13.25%

Overdraft Facility

Against Property

Base Rate + 4.00% 14.25%

Lease Rental

Discounting

Base Rate + 3.25% 13.50%

Reverse Mortgage Loan Base Rate + 1.75% 12.00%

.


34/82


35/82

35 | P a g e

Credit cards provided by Axis Bank

1.Platinum Credit Card:-

Highest Level of security Enjoy unrivaled safety with EMV certified chip credit

card which reduces the possibility of counterfeit and skimming fraud. Nowcustomer card is Chip & PIN protected to give him additional security.

25% Cash-back on movie ticket booking Now watching movies is all the more

fun with your Platinum Card. Enjoy 25% Cash back on online and box office

movie ticket purchases on all days of the week. Now get a 2.5% fuel

surcharge waiver on all fuel transactions with your Axis Bank in India.

2. Shriram credit card:-

Shriram Axis Bank Credit Card is a co-branded credit card launched by Axis

Bank in association with Shriram Transport Finance Company Ltd (STFCL). It

is the first credit card to be issued to transport operators in the country

The Shriram Axis Bank co-branded credit card is exclusively for the

customers of STFCL having a good track record


36/82

36 | P a g e

This co-branded credit card will be very useful to the transport operator in

meeting his day-to-day working capital requirements and provide him safety

and convenience of plastic money

By using this co-branded credit card, the transport operator can withdraw

cash from the ATM, buy fuel, tyres, oil, and batteries as well as make

purchases at any VISA merchant outlet in the country

3. MY Choice credit card:-

Presenting, Axis Bank MY Choice Credit Card, a card that allows customer to

personalize customer card design and choose your benefits. Customer can

now customize features and benefits according to customer spending and

saving needs, so that customer get the best out of every transaction

customer make

Be the craftsman of your own card with MY Choice Credit Card - a cardcustomer want.

4. Miles & More Credit Card

Axis Bank has partnered with Miles & More to launch two credit cards

especially to offer customer benefits far more than just travel. These cardsenable customer to earn award miles on all eligible spends and redeem your

award miles for exciting products and flight awards, upgrades and much

more.


37/82

37 | P a g e

Debit cards provided by Axis bank

1. Priority Debit Card:-

The Priority Platinum Debit Card designed just for our Priority

customers, comes with the following features and benefit

Enjoy enhanced daily cash withdrawal limit of Rs. 1 lakh and purchase

limit of Rs. 4 lakh on customer Priority Debit Card subject to the

balances held in customer account. Enjoy free ATM withdrawals from

any bank ATM anywhere in India

Enjoy Issuance and Annual Charges waiver on your Axis Bank Priority

Platinum Debit Cards

2. Gold Debit Card:-

Axis BanksGold Debit Card is more than just a debit card. It comes with

a host of enhanced benefits and reward program

Enjoy enhanced daily cash withdrawal limit of Rs. 50,000 and

purchase limit of Rs. 1.75 lakh on your Gold Debit Card subject to the

balances heald in customer account

Enjoy free ATM withdrawals from any bank ATM anywhere in India.

Swipe your debit cardat petrol pumps without any fuel surcharge on

your cards


38/82

38 | P a g e

3.Classic Debit Card:-

Axis Bank's MasterCard Classic Debit Card is more than just a debit

card. It comes with a host of enhanced benefits

Transaction limit of 1,00,000 for purchase transactions and 25,000 for

ATM withdrawals

Enjoy 5 free ATM withdrawalsfrom any bank ATM anywhere in India

on your MasterCard

4.Youth Debit cards:-

The Visa Youth Debit Card is meant exclusively for youth customers

from the age of 18 to 25 years

Especially for Axis Bank Priority Platinum Debit cardholders, the dailyATM Cash withdrawal limit has been enhanced to Rs. 40,000 per day

at all Bank ATMs

As an Axis Bank Debit Card customer, customer will be insured for

risk of loss due to fraudulent use of a lost or stolen or missing debit

card. All you need to do is communicate the loss of customer card by

calling our 24-hour customer services number We regularly tie up with leading restaurants, shopping

establishments, hotels, resorts etc, to bring customer exclusive

discounts and offers from time to time. These offers would be valid

only when you utilize your Youth Debit Card to make the payment


39/82

39 | P a g e

Prepaid Cards offered by Axis bank

1. Gift Card:- The Axis Bank Gift Card is suitable for gifting for all

purposes. So be it festivities like Diwali, Christmas or New Year or

occasions like marriages, birthdays, anniversaries or special days like

Mother's Day, Valentine's Day, etc, the Axis bank Gift Card is the perfect

gift .

The Axis Bank Gift Card comes in a unique Gift Wrap shape thus making

it more adorable as a gift.

Load any amount between Rs. 1000 up to a maximum limit of Rs 5000 it

works in the same way as a Debit Card for purchase transactions at

merchant outlets including hotels, restaurants.

2. Smart pay cards:-The Axis Bank Smart Pay is a rupee

denominated card for disbursing your employees salaries in a moresimpler and systematic manner. Now no need to issue cheques or pay

cash, a single loading instruction to the Bank is all you need for making

your employee payments.

The Axis Bank Smart Pay is an innovative and extremely convenient way

to disburse salaries to your employees. By facilitating cash withdrawal

and point-of-sale transactions at merchant outlets, the Smart Pay

eliminates the need for a separate salary account.

No bank account or average quarterly balance maintenance is required.

Daily cash withdrawal at Axis Bank ATMs RS 20000.


40/82

40 | P a g e

Daily POS transaction limit: Rs 20000.

3. Rewards Card

The Axis Bank Rewards Card is a prepaid reloadable card which can be used

for cash withdrawals at all Axis Bank ATMs as well as Visa enabled ATMs or

making purchases at the numerous merchant outlets across India, thus

making anytime, anywhere access of funds to mour employees /customer.

The Rewards Card can be used at all Axis Bank ATMs and Visa enabled

ATMs as well as at any Visa enabled merchant outlet anywhere in India.

Purpose Payment instrument for disbursement of benefit like

Incentives

Rewards

Bonus

CommissionPayment instrument for reimbursements and perquisites like

Medical reimbursement

Bills credit


41/82

41 | P a g e

05:-Forex offered by Axis bank

1.Travel Currency Card:-

The Travel Currency Card gives its customers a 24-hour access to

money. Withdraw funds in the local currency from any Visa or Visa Plus

ATM's (Automated Teller Machine) as well as pay for all customer

purchases in any country you visit, anywhere in the world.

2. Outward Remittances:-

Axis Bank offers Outward Remittance facilities enabling its customers to

remit money abroad through reliable and quick transactions. They can

send money abroad for reasons more than one: education, medicalpurpose, gifting, and maintenance for loved ones or donation for a cause.

Advantages:

01:-Faster and hassle free remittance solutions

02:-Wide distribution network of Axis Bank Branches in India

03:-Arrangements with Correspondent Banks across the globe

04:-Competitive foreign exchange rates & charges

05:-Facilities for non-Axis Bank customers also


42/82

42 | P a g e

3. Foreign Currency Travelers Cheques:-

American Express Traveler's cheques are widely accepted globally as a mode of

payment in many parts of the world. It is always worthwhile taking some of

customer foreign exchange in travelers' cheques as it is a great backup to cash

and cards.

4. Foreign Currency Cash:-

Carrying small amount of local currency or internationally acceptable

currency variants in wallet while travelling overseas is reassuring and

convenient - especially to make payments for the services customer may

require on your arrival at the destination.


43/82

43 | P a g e

06:-Investment Services offered by

Axis bank

1. Gold mohurs Investment:-

Thought to be one of the first known metals, gold has been coveted

throughout history for its beauty, scarcity, malleability, and uncanny

resistance to rust and corrosion. Centuries ago, gold's unique

combination of properties -- its sun-like color, its soft hardness and

especially its imperviousness to decay -- imbued it with magical

associations in the eyes of many. Because of these unique properties,

gold has traditionally been the currency of choice for much of the world's

population

Features

Axis Bank brings to customerGold Mohurs in the purest form.

Made in Switzerland, Gold Mohurs carry the Assay certification of being

24 carat, 99.99% purely.

It comes to customer in a specialized packaging that is tamper proof so

that its purity is preserved

Available in 2 gms, 5 gms, 8 gms, 10 gms, 20 gms, 50 gms & 100 gms.Gold Mohurs of 5 gms denomination have Goddess Laxmi embossed on

them.


44/82

44 | P a g e

Gold Mohurs can be bought over the counter in over 1400 branches of

Axis Bank

2.Demat Account :-

Axis Bank is a registered member (Depository Participant) of NSDL. In

this system, physical security holdings are converted into electronic (or in

other words, dematerialized) holdings. Axis Bank has been enrolled as a

Depository Participant by the NSDL - India's first depository.

If customers are selling securities then it has to be a delivery instruction

slip. If customer is purchasing securities it has to be a receipt instruction

slip or one time standing instructions for credit.

Even securities entitlements like bonus and rights can be credited to

customer demat account electronically

At customer request we arrange to convert customer physical holdingsinto electronic form. To do this customer would be require to open a

demat account with NSDL through us called "Beneficiary Owner

Account" in the name and style in which the shares are held by customer

customer have the option to convert customerelectronic shares back to

physical shares.

3. Mutual funds:-

A Mutual Fund is a trust that pools the savings of a number of investors

who share a common financial goal. The money thus collected is then


45/82

45 | P a g e

invested in capital market instruments such as shares, debentures and

other securities. The income earned through these investments and the

capital appreciation realized is shared by its unit holders in proportion to

the number of units owned by them.

Thus a Mutual Fund is the most suitable investment for the common man

as it offers an opportunity to invest in a diversified, professionally

managed basket of securities at a relatively low cost.

As Axis Bank Financial Advisory team, we adopt a strong research driven

recommendation model to help customer choose the best funds basedon qualitative and quantitative parameter.

Apart from this, a dedicated Relationship Manager can also be assigned

to customerto ensure that your investment requirements are taken care

of, smoothly and efficiently. Our advisors understand customer profile

and lead you through a structured financial planning process to devise

financial solutions best suited to customer. The advisors will also help

customer choose the right investment products in line with customer

investment goal.

4. Silver Mohur:-

Silver has always been considered auspicious, good luck & fortune

bringer. It is often used as a token of good luck to mark important

occasions like the birth of a new born baby or purchase of a house.

That's why Silver is great for every Shubh Mahurat, to mark every new


46/82

46 | P a g e

beginning. Customer can consider buying it or gifting on several

occasions like.

Birth of baby child

Purchase of new car

Passing of boards exam

Special features of Axis Bank Silver Mohurs

Tamper proof packed with special Banyan Tree design on the bar .

99.99% pure

24 caret assay certified

Imported from Switzerland.

08:- Payments services offered by

Axis Bank:

Bill Pay

Axis Bank's Bill Pay service enables customer to make secure

payments from the comfort of your home or office. So its time to say

goodbye to late payment fines, long queues, lost bills, and commissions

paid to local errand boys.


47/82

47 | P a g e

ECS

It is an electronic clearing system that facilitates paperless credit / debit

transaction directly linked to your account and also provides for a faster

method of effecting periodic and repetitive payments.

Through ECS (Debit), you can pay all your Utility bills

(electricity/telephone/Mobile bills, credit cards, etc), Mutual Fund (SIP),

Insurance Premium, Loan Installments, credit card payments, payments

of donations and other bill payments.

Tax E -payments

In this service, Income / Other Direct Taxes, as well as Central Excise &

Service Tax* through iConnect can be paid from account online and

can get on-line acknowledgement of the payment by way of a Cyber

Receipt, including Challan Identification Number (CIN) immediately

after making the payment.

Direct tax PaymentThe Bank is authorised for Collection of Income or Other Direct Taxes

on behalf of Central Board of Direct Taxes (CBDT) i.e. 1 October, 2003.

Pension Disbursement

The Bank is authorised by RBI and Ministry of Defence for

disbursement of Pension to Armed Force (Army, Navy and Air Force)personnel through its 151 authorised branches across the country.


48/82

48 | P a g e

09:-Other Services offered by Axis

Bank to its individual customers

MOBILE REFILL : RECHARGE AT THE ATM

An individual can recharge his mobile talk time at any of our ATMs. He

doesnt even have to be an Axis Bank customer. All his need is a VISA debit

or credit card. If he is an Axis Bank customer, then he can also use his Axis

Bank debit card (both VISA as well as Master card).

LOCKER (Unmatched protection for your valuables)

A Safe Deposit Liker with Axis Bank is the solution to an individuals

concern. Located at select branches in cities all over the country, our lockers

ensure the safe keeping of an individuals valuables.

Advantages

Wide Availability: As on March 31, 2010 lockers are available at 944

branches and extension counters.

Lockers available in various sizes.

Direct debits for locker rentals from your account rid you of the hassle in

writing out cheques.

Extended banking hours to operate lockers.

Competitive rentals.


49/82

49 | P a g e

ONLINE SHOPPING (Safe and Secure internet Payment)

Axis Bank offers an individual the convenience of shopping at many

major Online stores from the comfort of his home or office. All he need is an

Internet enabled PC. He can choose & then get he items delivered at his

doorstep. He can also avail of numerous online services, get to know about

the current special offers/discounts and get a preview of the new items added

on to the shelves by these online retailers/service providers. He can shop as

much as he like and conveniently make instant payments by debiting his

account through the secured payment channel, iConnect Our Internet

banking platform.

IPOSMART (Now invest in IPOs without letting go of yourfunds!)

An individuals Axis Bank savings account now makes IPO application a

seamless and hassle-free process. Instead of moving out funds from his

account for application to an IPO, the amount can now simply be blocked.

Which means as long as the IPO shares are not allotted, the funds stay with

him and he also gain interest on them? Plus he gets the security of having

the refunds directly unblocked and made available to you, in his account

itself!


50/82

50 | P a g e

The above service is being made available in accordance with the SEBI

guidelines on ASBA (Applications Supported by Blocked Amount).

Benefits

Interest on funds which otherwise would have moved out of your

savings account.

No need to write cheques or make demand drafts.

Convenient and transparent management of funds.

Instant release / unblocking of funds after allotment / non- allotment of

shares.

E-Statement

Axis Bank offers the facility of E-Statement. E-Statement are secure and

electronic way to receive statement of accounts fromthe Bank.


51/82

51 | P a g e

Agricultural services

With the advent of Information Technology and latest

development in agriculture and marketing, it was felt necessary

that farmers should also be provided with the available latest

technology in the banking industry to provide them Anywhere

Anytime Banking


52/82

52 | P a g e

1.Saving Account for Agricultural sector

1. Krishi Saving Account:-

Axis Bank offers a unique savings account which is easy to operate and

allows customer to transact immediately. This product has been specially

designed keeping in mind the unique requirements of a farmer and others

employed in the allied agricultural activities sector. Thus this product has

been called the Krishi Savings accountThe Krishi Savings Account has also been extended for the below given

"Allied Agricultural activities. Fishery & agriculture sector. Fruits and

Vegetable Vendors {Corporation license, or letter from the Govtauthority).

The Krishi Savings Account entitles customer to a Debit Card with which

customercan access customeraccount anytime through the Axis Bank ATM

network

This card comes with:

A cash withdrawal limit of Rs. 40,000 per day

Accident Insurance cover of Rs. 2 lacs


53/82

53 | P a g e

2.Current Account for Agricultural

sector

2.Krishi Current Account:-

The product with half yearly average balance requirements captures the

seasonality nature of agriculture based businesses and is packed with host ofpowerful features and incentives for higher balance .s.

Features

There are different Half Yearly Average Balances (HABs) for different

category of locations. (Urban - Rs. 10,000, Semi Urban - Rs. 5,000,

rural 2500)

Enjoy Anywhere Banking with Axis Bank from more than 800 branches

/ service are their. .

Upto 50% rebate on charges for maintaining higher balance


54/82

54 | P a g e

3.Agricultor loans provided by Axis

Bank

1. Tractor loan:-

Axis Bank brings to customereasy and hassle free Tractor Loans. customer

realize how imperative tractors are to your livelihood and so, with our Tractor

Loans, customerare assured one of the best deals in the market along with a

range of attractive

Features

Zero foreclosure charges.

Flexible repayment option.

Special interest rate for farmers with multiple sources of income.

Repayment period up to 7 years

Quick processing and doorstep services


55/82

55 | P a g e

2 .Commodity power:-

Commodity Power is a scheme offered by Axis Bank Ltd. which aims at

financing the pledged stocks of agro commodities store various godowns

/warehouses/cold storages managed by CWC/SWC/Private warehouses,

(under the supervision of the empanelled Collateral Managers of Axis Bank

Ltd.) through a unique customer friendly credit facility.

The intention is to avoid the distress sales at the time of harvest, neutralize

the seasonality factor in pricing and enhance income for farmers by providing

liquidity at times when cash flow dry out

features

A wide plethora of agro-commodities are financed from more than 85

designated branch location .

Swift loan processing and disbursement

Commodities will remain under safe supervision of professional

Collateral manager.

Attractive Rates of interest.

Prompt customer services through our exclusive Commodity Officers at

each designated branch location.

Axis Bank is one of the prominent banks for commodity based financing

in the country.


56/82

56 | P a g e

3. Kisan power

Kisan Power aims at providing adequate and timely credit to farmers for

meeting cultivation needs including purchase of inputs, investment needs

like purchase of agricultural implements, land development, purchase of

bullocks and carts, two/three/four wheelers, repair of farm machinery or

any other needs including domestic needs like expenditure on account of

sickness, children's education and family functions etc. The product gives

the farmer the flexibility to choose between cash credit and term loans with

friendly repayment terms.

Eligibility

Farmer who is an owner cultivator, a tenant cultivator or a sharecropper is

eligible for these loans. Minimum landholding should be two acres

Loan amount

Minimum: Rs 25,001

Maximum: Rs 25,000

Repayment

Loan tenure is fixed by allowing reasonable period for marketing the

agricultural produce after harvest of the crop, subject to maximum of 1 year

in case of cash credit, to 7 years for term loan .


57/82


58/82

58 | P a g e

1.NRI SAVING ACCOUNT

01:-PRIME SAVING ACCOUNT:-

As customermove up the ladder of progress in life, along comes with it a lot

of expectations and aspirations. To achieve them requires the able support of

a willing partner, ever ready to lend a helping hand in customer every quest,

willing to walk that extra mile to make sure all your aspirations are turned in toreality With Axis banks NRI Prime Saving Account customer may find the

perfect partner in your journey .

Benefits of NRI Prime account :-

With our NRI Prime Savings Account, customer are now free from the

age-old single branch banking. This gives customercomplete freedom

of operating your NRI saving account from any of the Axis bank

With NRI saving account you can now deploy your funds far and wide

across the horizon through inward remittances and fast-track realisation

of Foreign Cheque / DD collection.


59/82

59 | P a g e

As a Prime Savings Account holder, you not only enjoy access to a

wide network of branches but also at your disposal will be one of the

largest ATM networks in India giving you easy access to your account

from almost any corner of the country

Features

Free At-Par Chequefacility.

Get a Free International Debit Card with Accident Insurance cover of Rs. 2

lakhs with your NRI prime saving account

Telebanking, Internet Banking and SMS

02:-ISNAAN NRI PERSONAL ACCOUNT:-

Enjoy personal banking benefits without the encumbrance of earning interest

with the Axis Bank Inaam NRI Personal Account for NRI customer .

Made especially for customerAccelerated EDGE Loyalty Rewards points

Presenting EDGE Loyalty Rewards our bank wide loyalty program where you

can earn points on a host of transactions on your bank account and debit

cards.

Personal banking benefit

Internet Banking:Transfer Funds, Pay bills, and view Account Summary on

internet banking

Mobile Banking:customer can check balances, transfer funds, request for

cheque books and make bill payments using customermobile phone with the

new axis mobile app


60/82

60 | P a g e

3. Non-Resident (external) NRE Saving Account

Any person resident outside India may open NRE account. This account

permits a NRI to hoed and maintain foreign currency earnings in Indian

rupees. The Principal and interest earned on these balances are freely

reportable.

Whether an individual are a student, a professional, a salaried

employee or an entrepreneur, this account will meet all an individuals

banking need.

Features

Low minimum balance requirement of Rs 5,000

Multicity cheque book which will permit An individual to make

payment via cheque across multiple locations

Mandate or Power of Attorney facility available so that in An

individuals absence from the country An individual can authorize his

relative or friend to operate conduct banking transactions on his

behalf.

Free I Connect: 24 X 7 account access through secure internet

banking facility from anywhere and anytime.

Online shopping mall and utility bill payment facility be using Axis

Banks Internet based I Connect banking login.


61/82


62/82

62 | P a g e

2. NRE Rupee Deposit

Maintain your foreign currency in Indian rupee denominated deposits and

enjoy the benefits of higher interest rates and seamless repatriability.

Principal and interest are freely repatriable. Deposits can be held for a period

of 1 to 10 years.

The depositor who returns to India for good will be allowed to continue the

deposit till maturity of the deposit at the contracted rate of interest, if desired.

However, except the provisions relating to rate of interest, such deposit

would be treated as resident deposits from the date of return of the account

holder to India and taxed accordingly for all other purpose.


63/82

63 | P a g e

3.NRI Home loan:-

If customer is planning to purchase a home back in India, there is good

news for customer. AXIS bank NRI Home loans enable customerto buy a

home in customer own country. Axis Bank offer home loan for NRIs in

order to facilitate their investment in the booming Indian property market.

With us getting a NRI home loan is a simple and hassle-free process

designed in a way to provide highest level of customer satisfaction.

AXIS bank NRI home loans gives multiple reasons why our home loans for

NRIs are the first choice for savvy buyer

Attractive Interest rates

Minimal Processing Fees

Flexible Tenures

Transparent Processing

Quick Service


64/82

64 | P a g e

NRI home Loan details

Loan Tenure - 1 to 25 years.

Margin

o For NRI Housing Loan up to Rs.20 Lacs - 15%

o For NRI Housing Loan above Rs.20 Lacs - 20%

Interest Rates and Charges: Please click here for the latest

rates and charges

Repayment - Electronic Clearing System (ECS) / Standing

Instruction (SI) or PDC from NRE/ NRO a/c


65/82

65 | P a g e

CHAPTER 2

Research methodology


66/82

66 | P a g e

SCOPE OF STUDY

Axis Bank is one of the most famous banks in India. The various products

and services offered by it include:

PRODUCT

Deposits (Saving account and current account)

Loans

Card

SERVICES

ATM

Mobile Banking

Internet Banking

Payment

Other Services

The deposit mix of an organization especially the Saving accounts are

the backbone of every bank as an ordinary man is most inclined to invest in it

due to its convenience and easy availability.

This project deals with the various customer concerns regarding these

and tries to suggest appropriate suggesting based on conclusions. I hope that

this report would be able to suggest some measures and draw attention of

bank towards the area of improvement.


67/82

67 | P a g e

Limitations of Study

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.

In a rapidly changing industry, analysis on one day or in one segment

can change very quickly. The environmental changes are vital to be

considered in order to assimilate the findings.

The conclusion arrived at are based on a very less experience of

researcher in this field.

SAMPLE SIZE AND METHOD OFSELECTING SAMPLE

I chose a sample size of 40 respondents consisting of based on judgment

sampling All respondents were the customers of Axis Bank. The method was

simple random sampling.

Data Source

For this project both primary and secondary data were valuable sources

of information.


68/82

68 | P a g e

Secondary data

Secondary data provides a starting point for any research and offers

valuable sources of already existing information. Secondary data are the

easiest to gather and the cost of collecting this data is also very low. For my

project work it was collected through the help of various associations,

magazines, newspapers, websites etc.

Primary data

Primary data are data freshly gathered for a specific purpose. For my

project work the primary data was collected by means of survey thoughquestionnaires.

1. Personal interview:-This method was the most appropriate way

of survey, because by personal interview .I came to know about

their feeling for Axis Bank.

2. Telephone:-This method was also used by me once or twice,

keeping in mind the busy schedule of a few respondents.


69/82

69 | P a g e

CHAPTER 3

DATA ANALYSIS AND

INTERPRETATION


70/82

70 | P a g e

Q.1 What kind of account do you have in Axis Bank ?

Interpretation:

50% of the respondents have saving bank account in Axis Bank, 30% of therespondents have Current Account and 20% are using Fixed Deposit

Account.

Saving Account

Current Account

Fixed Deposits

50%20%

30%

20%


71/82

71 | P a g e

Q.2Which features/attributes, do you expect from bank while opening

an Account?

Interpretation:

40%of respondent prefer quick services, 25 % of the respondents want less

documentation formalities and 15% of people prefer extended working hours

of the bank and 20% respondents said that proper information is needed of a

bank in which they want to open an account.ss

0%

5%

10%

15%

20%

25%

30%

35%

40%

Quick

Services

Variety of

products

Less

formalities

of

documents

Working

hours

Proper

information

Quick Services

Variety of products

Less formalities of documents

Working hours

Proper information


72/82

72 | P a g e

Q.3 what made you to open an account in Axis Bank?

Interpretation:

15% respondents have opened account because of co-operative bank

employees, 30% send that by seeing advertisement of bank they have

opened an account in Axis bank. 40% said that bank prospectus made them

to open an account in bank and 15% said that because of their friends and

relatives they have opened account in Axis bank.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

BANK EMPLOYEES

PROSPECTUS

ADVERTISEMENT

FRIENDS AND RELATIVE WOULD

YOU RECOMMEND


73/82


74/82

74 | P a g e

Q.5 In comparison to other bank how would you rate Axis Bank?

Interpretation :

35% of the respondents feel that Axis bank services are excellent when

compared with the other bank, 40% say that services are good, 15% feel that

services are average in comparison with the other banks. While 10%

respondents have not given any reply.

Q.6 Whether you wait in a queue to get services of Bank?

Interpretation: 60% of the respondents said that they have to wait in queue

to get the services of Axis bank, while 40% said that they get quick services

in a bank,

EXCELLENT

GOOD

AVERAGE

POOR

CAN'T SAY

35%

40%

15%10%

YES

NO

60%40%


75/82

75 | P a g e

Q.7 Do you think the number of counter available issufficient?

Interpretation:- 40% respondents are satisfied with the number of counters,

while 60% said that counters need to be increased.

Q.8 Suggestion if any for improvement of bank services?

Most of the customers feel that services are good, employees are co-

operative, however they have to stand in queue to get the services of bank,

so counters need to be increased and also branches of the bank need to be

increased so as to give services to many people.

YES

NO60%

40%


76/82

76 | P a g e

CHAPTER 4


77/82

77 | P a g e

CONCLUSION

In this time of economy slump, where all options of Investment lacks the

interest of people for one or other reason, FD still remains at the top in the

mind of people as a known convenient and reward earning option for

investing their hard earned savings. However falling banks rates have

certainly lessen the faith of people in it, but still it remains the first choice of

small investors because it is synonymic with safe and fixed return giving

alternative for investment of savings. The need of the hour is safety and

security, high risk is out. Recent global economy slowdown has made

negative influence on let investor perception of security. And savers are

looking much more closing at investment avenues in order to optimize their

returns at least risk.

We found that:- Savings from the backbone for FD market. Savings of people

are mainly affected by three factors.

1. Incomehigher the income, higher the savings.

2. Consumptionhigher the consumption, lower the savings.

3. Inflatinghigher the inflating rate, lower the savings.

Axis Bank saving product is highly popular due to its various facilities,

anywhere banking with ATM and Debit Card.

In case of special saving Account, if bank provides the cheques pickup

facility then it can tap out more number of trusts and society.


78/82

78 | P a g e


79/82

79 | P a g e

QUESTIONNAIRE

Dear sir/madam I am Banking and Insurance student conducting a survey on

Axis Bank, Dombivili shall be very thankful, if you give your few minutes to

me for answering few questions given below. Every information given by you

will be only for academic purpose.

Name.Gender

Address ................

...

Annual income ..Occupation

Q.1 specify the type of account you have in Axis Bank?

a) Saving Account

b) Current Account

c) Fixed Deposits


80/82

80 | P a g e

Q.2 Which features/attributes, do you expect from bank while opening an

Account?

a) Quick Services

b) Variety of products

c) Less formalities of documents

d) Working hours

e) Proper information

Q.3 What made you to open an account in Axis Bank?

a) Bank Employees

b) Prospectus

c) Advertisement

d) Friend and Relative would you recommend

Q.4 How would you rate the products of Axis Bank?

a) Excellent

b) Good

c) Average

d) Poor


81/82

81 | P a g e

Q.5 In comparison to other bank how would you rate Axis Bank?

a) Excellent

b) Good

c) Average

d) Poor

e) Cant Say

Q.6 Whether you wait in a queue to get services of Bank?

a) Yes

b) No

Q.7 Do you think the number of counters available is sufficient?

a) Yes

b) No

Q.8 Suggestion if any for improvement of Bank services.

.

.


82/82

BIBLIOGRAPHY

Websites

www axisbank com

Download - Axis Bank Final Prtoject

Top Related