hdfc
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HdfcTRANSCRIPT
CONTENTS
www.GamesWala.com
We Understand your world
CONTENTS
PREFACE
ACKNOWLEDGEMENT
INTRODUCTION TO BANKING
BANKING SYSTEM IN INDIA
PROFILE OF HDFC BANK
OBJECTIVES OF STUDY
RESEARCH METHODOLOGY
VARIOUS SCHEMES OF BANK
ANALYSIS AND INTERPRETATION
SWOT ANALYSIS
SUGGESTIONS
LIMITATIONS
CONCLUSION
QUESTIONNAIRE
BIBLIOGRAPHY
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ACKNOWLEDGEMENT
May I take this rare opportunity to extend my sincere gratitude to those who contributed in one-way or another to my training and subsequent submission of this report.
In the first place. I owe much appreciation to the management and staff of the HDFC Bank, Yamuna Nagar for allowing me to under take the training in their esteemed Bank.
I take this opportunity to express my intellectual department of gratitude and obligation to my esteemed revere Guide Mr. Rohit Garg (Branch Manager) for his most valuable need and creative suggestions at all stages of my work.
My heart full gratitude goes to Mr. Gaurav Arora (Branch Executive) and all other Bank employees for their kind support and cooperation throughout the project.
I highly grateful to my revered Dr. N.K. Bishnoi (Chair Person) Deptt. of Busines Economics C.D.L.U., Sirsa for his valuable contribution during the academic session and guidance in preparation of this project report.
More ever this achievement is entirely upon the moral support and inspiration of my parents and all my friends. It is with their endless support.
(SUNNY MADAAN)
PREFACE
The vocational training in any organization is an integral part of M.B.E. course of M.B.E. Course because it exposes students to the problem area and provides knowledge as how to solve these problems. there is always gap between theories and practices and the training is aimed at removing this gap.
The project report is concerned with the "Analysis of Various Schemes provided by HDFC Bank" During my training I studied the various development tools and deeply analysis the functions.
In the project I have tried to study the products of HDFC Bank and analysis them on the basis of their popularity and there after stating short coming along with suggestions.
This report is written account of what I learnt and experienced during my training and I have tried to complete this report with as much perfection as possible.
With the questionnaire I make it clear that practical knowledge is must, which gives us and opportunities to give practical entries.INTRODUCTION OF BANKING
MEANING AND DEFINITION:
Bank is an institution that deals in money and its substitutes and provides crucial financial services. The principal type of baking in the modern industrial world is commercial banking & central banking.
Banking Means "Accepting Deposits for the purpose of lending or Investment of deposits of money from the public, repayable on demand or otherwise and withdraw by cheque, draft or otherwise."
-Banking Companies (Regulation) Act,1949
The concise oxford dictionary has defined a bank as "Establishment for custody of money which it pays out on customers order." Infact this is the function which the bank performed when banking originated.
"Banking in the most general sense, is meant the business of receving, conserving & utilizing the funds of community or of any special section of it."
-By H.Wills & J. Bogan
"A banker of bank is a person, a firm, or a company having a place of business where credits are opened by deposits or collection of money or currency or where money is advanced and waned.
-By Findlay Sheras
Thus
A Bank :
Accept deposits of money from public,
Pays interest on money deposited with it.
Lends or invests money
Repays the amount on demand,
Allow the money deposited to be with drawn by cheque or draft.
ORIGIN OF WORD BANK:
The origin of the word bank is shrouded in mystery. According to one view point the Italian business house carrying on crude from of banking were called banchi bancheri" According to another viewpoint banking is derived from German word "Branck" which mean heap or mound. In England, the issue of paper money by the government was referred to as a raising a bank.
ORIGIN OF BANKING :
Its origin in the simplest form can be traced to the origin of authentic history. After recognizing the benefit of money as a medium of exchange, the importance of banking was developed as it provides the safer place to store the money. This safe place ultimately evolved in to financial institutions that accepts deposits and make loans i.e., modern commercial banks.
BANKING SYSTEM IN INDIA
A HISTORICAL PERSPECTIVE :
We can identify there distinct phases in the history of Indian banking:
1.Early phase from 1786-1969.
2.Nationalization of banks and up to 1991 prior to banking sector reforms.
3.New phase of Indian banking with the advent of financial banking. Banking in India has its origin as early or Vedic period. It is believed that the transitions from many lending to banking must have occurred even before Manu, the great Hindu furriest, who has devoted a section of his work to deposit and advances and laid down rules relating to the rate of interest. During the mogul period, the indigenious banker played a very important role in lending money and financing foreign trade and commerce.
During the days of the East India Company it was the turn of agency house to carry on the banking business. The General Bank of India was the first joint stock bank to be established in the year 1786. The other which followed was the Bank of Hindustan and Bengal Bank. The Bank of Hindustan is reported to have continued till 1906. While other two failed in the meantime. In the first half of the 19th century the East India Company established there banks, The bank of Bengal in 1809, the Bank of Bombay in 1840 and the Bank of Bombay in1843. These three banks also known as the Presidency banks were the independent units and functioned well. These three banks were amalgamated in 1920 and new bank, the Imperial Bank of India was established on 27th January, 1921.
With the passing of the State Bank of India Act in 1955 the undertaking of the Imperial Bank of India was taken over by the newly constituted SBI. The Reserve Bank of India (RBI) which is the Central bank was established in April, 1935 by passing Reserve bank of India act 1935. The Central office of RBI is in Mumbai and it controls all the other banks in the country.
In the wake of Swadeshi Movement, number of banks with the Indian management were established in the country namely, Punjab National Bank Ltd., Bank of India Ltd., Bank of Baroda Ltd., Canara Bank. Ltd. on 19th July 1969, 14 major banks of the country were nationalized and on 15th April 1980, 6 more commercial private sector banks were taken over by the government.
FUNCTIONS OF BANKS
PRIMARY FUNCTIONS
Acceptance of Deposits
Making loans & advances
Loans
Overdraft
Cash Credit
Discounting of bills of exchange
SECONDARY FUNCTIONS
Agency functions
Collection of cheques & Bills etc.
Collection of interest and dividends.
Making payment on behalf of customers
Purchase & sale of securities
Facility of transfer of funds
To act as trustee & executor.
UTILITY FUNCTIONS :
Safe custody of customers valuable articles & securities.
Underwriting facility
Issuing of traveller's cheque letter of credit.
Facility of foreign exchanges
Providing trade information
Provide information regarding credit worthiness of their customer.
CLASSIFICATION ON BASIS OF OWNERSHIP
On the basis of ownership banks are of the following types :
1.PUBLIC SECTOR BANK
Public sector banks are those banks which are owned by the Government. The Govt. runs these Banks. In India 14 banks were nationalized in 1969 & in 1980 another 6 banks were also nationalized. Therefore in 1980 the number of nationalized bank 20. But at present there are 9 banks are nationalized. All these banks are belonging to public sector category. Welfare is their principle objective.
2.PRIVATE SECTOR BANKS
These banks are owned and run by the private sector. Various banks in the country such as ICICI Bank, HDFC Bank etc. An individual has control over there banks in preparation to the share of the banks held by him.
3.CO-OPERATIVE BANKS
Co-operative banks are those financial institutions. They provide short term & medium term loans to there members. Co-operative banks are in every state in India. Its branches at district level are known as the central co-operative bank. The central co-operative bank in turn has its branches both in the urban & rural areas. Every state co-operative bank is an apex bank which provides credit facilities to the central co-operative bank. It mobilized financial resources from richer section of urban population by accepting deposit and creating the credit like commercial bank and borrowing from the money mkt. It also gets funds from RBI.
iiACCORDING TO RESERVE BANK OF INDIA ACT 1935
Banks are classified into following two categories son the basis of reserve bank Act. 1934.
1.SCHEDULED BANK
These banks have paid up capital of at least Rs. 5 lacks. These are like a joint stock company. It is a co-operative organization. These banks find their mention in the second schedule of the reserve bank.
2.NON SCHEDULED BANK
These banks are not mentioned in the second schedule of reserve bank paid up capital of these banks is less then Rs.5 lacs. The no. such bank is gradually tolling in India.
iiiCLASSIFICATION ACCORDING TO FUNCTION
On the basis of functions banks are classified as under :-
1.COMMERCIAL BANKS
The commercial banks generally extend short-term loans to businessmen & traders. Since their deposits are for a short-period only. They cannot lend money for a long period. These banks reform various types or agency job for their customers. These banks are not in a position to grant long-term loans to industries because their deposits are only for a short period. The majority of joint stock banks in India are commercial banks which finance trade & commerce only.
2.SAVING BANKS
The principle function of these banks is to collect small saving across the country and put them into productive use. These banks have shown marked development in Germany & Japan. These banks are established in HAMBURG City of Germany in 1765. In India a department of post offices functions as a saving banks.
3.FOREIGN EXCHANGE BANKS
These are special types of banks which specialize in financing foreign trade. Their main function is to make international payments through purchase & sale of exchange bills. As it well known, the exporters of a country prefer to receive the payments for exports in their own currency. Thus these banks convert home currency into foreign currency and vice versa. It is on this account that these banks have to keep with themselves stock of the currency of various countries. Along with that, they have to open branches in foreign countries to carry on their business.
4.INDUSTIRAL BANKS
The industrial banks extends long term loans to industries. In fact, they also help industrials firms to sell their debentures and shares. Some times, they even underwrite the debentures & shares of big industrial concerns.
5.INDIGENIOUS BANKS
These banks found their origin in India. These banks made a significant contribution to the development of agricultural and industries before independence. Mahajans, rural moneylenders and jweelers have been the forerunner of these banks in India.
6.CENTRAL BANK
The central bank occupies a pivotal position in the monetary and banking structure of the country. The central bank is the undisputed leader of the money market. As such it supervises controls and regulates the activities of commercial banks affiliated with it. The central bank is also the higher monetary institution in the country charged with the duty & responsibility of carrying out the monetary policy formulated by the government. India's central bank known as the reserve bank of India was set up in 1935.
6.AGRICULTURAL BANK
The commercial and the industrial banks are not in a position to meet the credit requirements of agriculture. Hence, there arises the need for setting up special type of banks of finance agriculture. The credit requirement of the farmers are two types. Firstly the farmers require short term loans to buy seeds, fertilizers, ploughs and other inputs. Secondly, the farmers require long-term loans to purchase land, to effect permanent improvements on the land to buy equipment and to provide for irrigation works. There are two types of agriculture banks.
1.Agriculture co-operative banks, and
2.Land mortgage banks. The farmer provide short-term credit, while the letter extend long-term loans to the farmers.
HOUSING DEVELOPMENT FINANCE CORPORATION
(HDFC BANK)
INTRODUCTION
The housing development finance corporation limited (HDFC) was amongst the first to receive an"in-principle" approval from the reserve bank of India (RBI) to set up a bank in the private sector, as part of RBI liberalization of Indian banking industry in 1994. The bank was in corporate in Aug. 1994 in the name of HDFC Bank Ltd. With its registered office in Mumbai, India, HDFC Bank commenced operations as scheduled commercial bank in January 1995.
PROMOTOR
HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1997, the corporation has maintained a consistent and healthy growth in its operations to remain a market leader in mortgage. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
BUSINESS FOCUS
HDFC bank's mission is to be a world class Indian bank. The bank has aim to build sound customer franchises across district business so as to be the prefer provider of banking services in the segment that the bank operates in and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity and regulatory compliance. HDFC bank's business philosophy is based on four core values:
1.Operational Excellence
2.Customer Focus
3.Product Leadership
4.People.
CAPITAL STRUCTURE
The authorized capital of HDFC bank is Rs. 45000 lacks. The issued, subscribed and paid-up capital is divided into 836,46 lacks equity shares @ Rs.10/- each.
The Shares are listed to the stock exchange Mumbai and National Stock Exchange. The banks American Depositary shares are listed on New York Stock Exchange (NYSE) under the symbol "HDB"
SHAREHOLDERS HOLDING MORE THAN 1% OF THE
SHARE CAPITAL OF THE BANK AS AT MARCH 31, 2006
Sr. No.Name of the ShareholdersNo. of Shares Holder% of Share Capital
1.ADS Depository (J P Morgan Chase Bank)6,03,38,24719.27
2.Housing Development finance Corporation Limited3,88,60,00012.41
3.HDFC Investments Limited3,00,00,0009.58
4.Crown Capital Limited1,54,89,6344.95
5.DBS Bank Limited1,16,20,8863.71
6.Life Insurance Corporation of India95,18,0963.04
7.Bennett Coleman & Company Limited88,49,9292.83
8.FID Funds (Mauritius) Limited61,88,7811.98
TIMES BANKS AMALGAMATION
In a mile stone transaction in Indian banking industry, Times bank limited (another new private sector bank promoted by Bennett, Coleman & Co. times group) was merged with HDFC bank ltd., effective February 26, 2000. As per the scheme of amalgamation approved by the share holders of both banks and Reserve bank of India.
DISTRIBUTION NETWORK
HDFC bank has its Headqarters in Mumbai. The bank at present has an enviable network of 535branches spread over 312 cities across the country. All branches are linked on an online real time basis. Customer in 189 locations are also serviced through phone banking. The banks expansion plans take into account the need to have a presence in all major industrial and commercial centers where its corporate customers are located as well as the need to build a strong retail customer base for both deposits and loans products. Being a clearing settlement bank to various leading stock exchanges, the bank has branches in centers where the NSE/BSE have a strong and active member base.
The bank also have a network of 1323ATM's across there cities.
TECHNOLOGY
HDFC bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have connectivity which enables the bank to offer speedy funds transfer facility to its customers. Multi branch access is also provided to retail customers through the branch network and automated teller machines (ATMs)
The bank has made substantial efforts and investments in acquiring the best technology available internationally to build the infrastructure for a world class bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web enabling its core business. In each office its business, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.
BUSINESS PROFILE
HDFC Bank caters to wide range of banking services covering both commercial and investment banking on the wholesale side and transactional branch banking on the retail side. The bank three key business areas
1.WHOLESALE BANKING SERVICES
The Bank's target is primary large blue-chip manufacturing companies in the Indian corporate sector and to a lesser extent, emerging mid sized corporate. For these corporate the Bank provides a wide range of commercial and transactional Banking services including working capital finance trade services, transactional services, cash management etc. The Bank is also a leading provider of structure solution which combine cash management services with vendors and distributor finance for facilitating superior supply chain management for its corporate customers. Based on its superior product delivery service levels and strong customer orientation, the Bank has made significant in roads into the Banking consortia of a number of leading India corporate including Multinationals, Companies from the domestic business house and prime public sector companies. It is recognized as a leading provider of cash management and transactional Banking solutions to corporate customers, Mutual Funds, Stock Exchange Members and Bank.
2.RETAIL BANKING SERVICES:
The objective of retail bank is to provide its target market customer a full range of financial products and banking service, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class services and delivered to the customers through the growing branch network as well as though alternative delivery channels like ATMs, phone banking, net banking and mobile banking. The HDFC bank preferred programs for high net worth individuals, the HDFC bank plus and the investment advisory services program have been designed keeping in mind heads of customers who seek distinct financial solutions information and advice on various investment avenues. The also had a wide array of retail ban products including auto loans, loans against marketable securities, personal loans and loans for two wheelers. It is also a leading provider of depository service to retail customers offering customers the facility to hold their investments in electronic form. HDFC Bank was the first bank in India to launch an international debit card in association with VISA ( Visa election) and issue the master card Maestro debit card as well. The debit card allows the use to directly debit his account at the point of purchase at a merchant establishment, in India and overseas. The bank launch its credit card in association with VISA in November 2002. The bank is also one of the leading players in the "merchant acquiring" business with 26,400 point of sale (pos) terminals for debit/credit cards acceptance at merchant establishments. The bank is well positioned as a leader in various net based B2C opportunities including a wide range of interest banking services for fixed deposit, loans, bill payments etc.
(C)TREASURY OPERATIONS
Within this business the bank has three main product areas foreign exchange and derivative, local currency, money market & debt securities and equities. With the liberalization of the financial market in India, corporate need more sophisticated risk management information advice and product structure. These and find pricing on various treasury product are provided through the bank treasury team.
BOARD OF DIRECTOR
Mr. Jagdish Capoor, (Chairman)
Mr. Aditya Puri, (Managing Director)
Mr. Keki Mistry
Dr. Venkat Rao Gadwal
Dr. Vineet Jain
Mrs. Renu Karnad
Mr. Arvind Pande
Mr. Ranjan Kapoor (Resigned w.e.f. 29th March, 2006)
Mr. Bobby Parikh (w.e.f. Jan. 9, 2004)
Mr. Ashim Samanta
VICE PRESIDENT AND COMPANY SECRETARY
Mr. Sanjany Dongre
AUDITOR
M/s P.C Hansotia & Co.
Chartered Accountant
REGISTERED OFFICE
HDFC BANK HOUSE
Senapati Bapat Mart,
Lower Parel,
Mumbai40013
Tel. No. 66521000
Fax No.24960737
Website : www. hdfcbank.com
AWARDS AND ACHIEVEMENTS - BANKING SERVICES-2005-06
"Best Bank in India' - 2005 Business Today- KPMG Survey.
"Best Domestic commercial Bank' & "Best Cash Management Bank" India - Asiamoney Awards for Corporate Excellence 2004-05. "Best Bank" - India- Finance Asia "Company of the Year"- The Economic Times Awards for Corporate Excellence 2004-05. "Best Domestic Bank in India"- The Asset Triple a Country Awards 2005. Most Customer Responsive company - Banking and Financial Services" - The Economic Times - Avaya Global connect customer responsiveness Awards 2005. HIGHLIGHTS
(FINANCIAL YEAR 2003-04)
1. Profit after tax up by 665, 56 to Rs. 870,78 lacks.
2. Earnings per share increases from Rs.22.92 to Rs.27.92.
3. Dividend per share increases from Rs. 4.50 to Rs. 5.50 (proposed)
4. Branch network up from 231 to 535 outlets.
5. ATM network up from 732 to 1323.
6. Phone banking coverage in 189 cities.
7. Point of sale (pos) teminals at merchant outlet up from 21800 to 26400.
8. Balance sheet size up from Rs.73, 506, 39 crores to Rs. 51, 42,9,00 crores.
Findings: Average annual growth rate is increased by 180.5% per year
Findings: DPS is increase by 100% per year
BALANCE SHEET AT 31ST MARCH, 2006
Capital & LiabilitiesScheduleAs at 31-3-06(Rs. Lacs)
As at 31-03-05
Capital 13131430988
Reserve & Surplus2498639420997
Employees stock options (grants) outstanding743
Deposits355796823635425
Borrowings4285848479001
Subordinated debt17020050000
Other liabilities & provisions5784949526446
Total73506395142900
Assets:
Cash & balance with RBI6330661265013
Balances with Bank & money at call & short notice7361239182387
Investments828393961934981
Advances935061262556630
Fixed Assets108550870832
Other Assets11227709133057
Total73506395142900
Contingent liabilities122147823414077715
Bills for collection282889254968
SOURCE: Annual Report of HDFC BANK (2005-06)
OBJECTIVE OF THE STUDY
To study awareness regarding HDFC Bank, Ynr.
To explore various schemes offered by HDFC Bank.
To know which is the most popular scheme of the bank.
To know promotional efforts made by the bank to attract customers.
To know problems faced by the customers in the bank.
To find out awareness level & reaction of customers towards direct banking channels provided by bank.
To find causes of dissatisfaction, if any, about Direct Banking Channels.
To provide suggestions for improvement in different schemes provided by HDFC Bank.
RESEARCH METHODOLOGY
"Research comprises of defining & redefining hypothesis or suggested solutions, collecting, organizing & evaluating data making deductions & reaching conclusion"-Cliford Woody.
The term research Methodology here comprises of all research activities carried on in connection with the "Analysis of various schemes under Saving, FD and Demat account provided by HDFC Bank".
The basic purpose of research methodology is to describe the research procedure. It helps the researches to adopt the right way to move on for carrying the study.
STEP IN RESEARCH PROCEDURE
Defining and analyzing the problem.
Determining sources of information
Preparing data collection format
Collection of data
Analysis of data
Interpretation of data
Preparation of report
RESEARCH DESIGN
A research design is like arrangement of conditions for collections & analysis of data in a manual that aims to combine relevance to the research purpose with economy in procedures.
A research design is purely & simply the framework of plans for a study that guides the collections & analysis of data the research design is the conceptual structure within which the research is conducted. It constitutes the blue print for the collection, measurement & analysis of the data.
The research design with help to answer the following questions :
Why the study is being made ?
From where the data needed can be collected ?
What time is required for the study to be competed & how much material is needed.
What will be the technique for data collections?
How the data can be analyzed?
How the answers to above questions can be found with minimum efforts, time & money?
TYPES OF RESEARCH DESIGN
Exploratory Research Design
These designs are the first step to start any research & are absolutely essential to obtain the proper definition of the problem. It helps in classifying the concepts of the study. The major emphasis is the discovery of ideas and insights by study the available information.
DESCRIPTIVE RESEARCH DESIGN
These are concerned with describing the characteristics of a particulars phenomenon in detail the descriptive study requires a clear specifications of who, what, when, where, why & how aspects of research.
The methodology adopted to achieve the project objective involved descriptive research method.
SAMPLE DESIGN
The stratified sampling technique was used for collecting information in this technique population is divided into stratas (homogenous group) and then sample is obtained from each group by simple random method. Somewhere convenient sampling was also used where the sample is selected by the researches on the basis of his or her convenience.
BANK CONSULTED :
HDFC Bank
No of persons consulted
100
RESPONDENTS INCLUDED :
HDFC staff, customers, persons from Yamuna Nagar & Jagadhri.
RESPONDENTS BELONG TO DIFFERENT PROFESSIONS
Chartered Accountant
Lecturers & Teachers
Doctors
Others
AREA COVERED
Schools & colleges Offices Market places Hotels & Restaurants. SOURCES OF DATA COLLECTION
To make the research complete it is very necessary to have useful and authentic data there are two types of data collection sources.
PRIMARY SOURCE OF DATA COLLECTION
Primary data are those which are collected afresh & for the first time, & this happens to be original in character. Simple well drafted questionnaire was circulated among all respondents. Full freedom was provided to an individual to answer the questions.
Personal & Telephonic Interviews, observation, personal opinion & viewpoints of the respondents about the various schemes helped in completion of the project.
SECONDARY SOURCES OF DATA COLLECTION:
These are those which are collected by someone else & which have been passed through statically process.
Brochures, Manuals, Journals, Magazines, Site of HDFC Bank and various Articles provided lot many inputs for successful completion of project
VARIOUS SCHEMES OF BANK
CURRENT ACCOUNT
It is running and account which may be operated upon any number of times during a working day. There is no restriction on the number and the amount of the withdrawals from a current account. As the banker is under an obligation to reply these deposit on demand, they are called demand liability of a banker.
Thus the business needs are constantly evolving and it also require time and money. To fulfill the needs of the customers HDFC bank provides a choice of current account option. The current account of HDFC is of four types, which are as follows :
Regular current account
Premium current account
HDFC Bank Trade
HDFC Bank Plus
REGULAR CURRENT ACCOUNT
FEATURES A minimum average quarterly balance is Rs.10,000/-.
First Cheque book is free
Free ATM card, phone banking, net banking and mobile banking
Any body can open this account except minor
30 transaction through ATM per month are free
The charges for non-maintains of AQB are Rs. 750 per quarter.
The charges for issuing the new Cheque book is Rs.2/- per leaf.
Monthly statements are send free to customers.
PREMIUM CURRENT ACCOUNT
FEATURES A minimum Avg. quarterly balance is Rs.25,000
All Cheque books are free
Free service
One ATM card per account (only for individual/proprietorship A/c)
Replacement incase of damaged card
Monthly statement
Net banking, phone banking & mobile banking
For non-maintenance of AQB Rs.900 per quarter are charged.
COMPARATIVE TABLE
(Regular & Premium current A/c)
FeatureCurrent A/c RegularCurrent A/c premium
Who can openAnybody except minorAnybody except-minor
Initial deposit requiredRs.10,000Rs.25,000
Minimum Avg. Quarterly Balance (AQB)Rs.10,000Rs.25,000
Service charges for non maintains of AQBRs.750/- per quarter Rs.900 per quarter
Cheque bookOne book free containing 50 leaves additional Cheque leaf at Rs.2/-All Cheque book free
ATM Card For individual /sole proprietorship A/cFor individual / sole proprietorship A/c
Interest payable NILNil
HDFC BANK TRADE
It is a current account ideal for small funds transfer across varies cities in the country. Trade account is suitable for small businessman & traders.
FEATURES
Minimum average quarterly balance is Rs.40,000
At par payable Cheuqe books are free
Free pay order payable in each location. To be issued from home branch.
Free demand drafts payable at HDFC Location up to 30 per quarter.
Free ATM card for individual/sole proprietorship
Free online, real-time net banking
All Cheque books are free
Free intercity fund transfer up to Rs.25 lacs
In case of non-maintains of AQB charges are Rs.1200 per quarter.
Cheque book is issued @Rs. 5 per leaf for those accounts which are not maintaining the AQB.
HDFC BANK PLUS
The product is a current account which is based on the concept of signal account, most location banking.
With this one account one can access cities in the country. In other words the power of a single account and multi city banking is providing through this account.
This result in huge savings on intercity movements of funds and their service charge.
FEATURES
Minimum average quarterly balance is Rs. 1,00,000/- per quarter.
Fund transfer between the other locations is free up to 100 lacs per month.
Free pay order and demand drafts of HDFC Bank location.
Free phone banking, net banking and mobile banking.
At per Cheque facility.
Cheque book will be issued @ Rs.5 per leaf for accounts which are not maintaining the required AQB.
SAVING ACCOUNT
The e-age saving account from HDFC Bank brings a comprehensive range of products and services. All one needs to deposit minimum balance of Rs.5000 and open saving balance account which allows to issue cheques and use on ATM/Debit card for withdrawls.
FEATURES
INTEREST RATE
It is calculated at the sale of 3.5% per annum, credited to customer's account at quarterly intervals interest is based on the minimum balance in the account between the 10th and last day of the month and is credited to the customers account on March 31st June 30th Setp. 30th and Dec. 31st.
QUARTERLY STATEMENT
The statements are sent to the mailing address of account holders on March 31st, June 30th, Sept. 30th and December 31st of every year. The monthly statements, duplicate statements, certificate of balance are available at a free.
COLLECTION OF CHEQUES
Third day credit in local clearing.
11th day credit in outstation collection if HDFC location is free (charge Rs.1000 Min 50 Rs.)
Minimum of 21 days with charges in non HDFC location
ISSUANCE OF CHEQUE BOOK
First 25 cheque leaves are free then further are requested through ATM or Branch.
AQB CHARGES
You have to maintain average quarterly balance of Rs.5000 else Rs. 750 per quarter are charged.
PERSONALIZED CHEQUE BOOK
To provide added security saving account cheque book comes with customers name printed on it at no extra cost. In case of joint account, both account holders name will be printed on the cheque book.
DD CHARGES
Upto Rs.1,00,000:Upto Rs.2,50,000
Upto Rs.1,00,000:Upto Rs.2,00/1000
CLOSING CHARGES
If saving account is closed before 6 months, then 100 Rs, are charged else no charges.
WHO CAN OPEN ?
Resident Individual (sole or joint)
Minor
Hindu Undivided Family
Trust, Association & Society.
WHO CANNOT OPEN?
Firms and Companies
Joint Account
Maximum of 3 can jointly open saving balance account
TDS
No TDS on saving account interest irrespective of the amount.
SERVICES
Free 24 hours ATM
Free Net banking
International Debit Card
Intercity/ Interbranch banking
Bill pay
Free phone banking
Insta alert service
FREE 24 HOURS ATM
Free ATM card is provided with your saving balance account and you can access your account 24 hours a day,365 days a year. On can have instant access to the account throughout the country round the clock.
FEATURES OF ATM
The maximum limit of withdrawal is Rs.10,000 per day.
Deposit cash/ cheques
Get mini statement of last 10 transactions
Request a cheque book : Cheque book is issued within working days through ATM while in 11 working days through branch.
Transfer funds :- Inter branch through ATMSs is free.
Get in account balance
30 Transactions are free per month at ATM but if AQB is not maintained then transaction is charged.
INTERNATIONAL DEBIT CARD
HDFC Bank International debit card lakhs your shop and also withdraw money from ATM Network.
LIMIT :
You can shop Upto a maximum limit of Rs.25,000 per day at 15,000 establishments in India and over 80 lakh establishments in 140 countries.
You can withdraw cash upto Rs.15,000 per day from over 1600 VISA/ PLUS ATMs in Inida and 5.3 lakh ATMs in 140 countries.
NET BANKING
HDFC Bank allows safe & secure way to bank over the internet facilities available.
Features
New FD Request
One can open FD Amount on interest
TDS Enquiry
One can make TDS enquiry on the funds
Get Demand Draft
DD can be requested without coming to branch & it will be couriered at mailing address.
Funds transfer within your account
One can transfer funds between your account in different branches or cities through interest.
Request for a new cheque book
Request for a new cheque book can be done online which will be couriered at the mailing address.
Check Demat Account
One can check status of demat account on the net free of cost.
There are no charges for getting various information on net while Rs. 100/- are charged for getting same information from branch.
CHARGES
Annual fee per card
:Rs.100/ p.a.
Replacement of damaged card:Free
Replacement of lost card
:Rs.100/-
TRANSACTION CHARGES
There are no charges for using the card at merchant locations for shopping & for use of the card at DFC Bank ATMs. However, at ATM networking of other banks Rs.55 per transaction are charged (Rs. 18 in case of SBI).
INSURANCE
In case card is cost/stolen, one is covered for any liability exceeding Rs.500/- after you report the loss to the bank.
ADDITIONAL CARD
Additional cards are available to joint account holder at an annual fee of Rs. 100 per card. Annual fee has been waived for the first year on one additional card.
INTERBRANCH/ INTERCITY BANKING
Bank technology enables customers to access customer account from any of banks branches in any city.
FEATURES :
Access your account from any branch
Withdraw cash from any branch
Transfer funds
Cash transactions upto 50,000 per day are free. Further Rs.2.90 thousand are charged the service is freed for all non-cash transaction.
Local cheque deposit and credit to your account in another city.
Cash withdrawal/ deposit by third party is strictly disallowed in non -home branches in saving account such transaction can only be done by the account holder.
Saving cheque book is not at par.
Inter branch banking through ATM is free
MOBILE BANKING
Mobile banking is free service provided by HDFC bank one can access the bank account on the mobile phone screen anytime, any where through sms one can do all banking transactions through mobile phone.
FEATURES
One can check account balance
Request cheque book
Open or enquire FD
Get DD
Transfer fund
Stop cheque payment
View last three transactions.
There are no charges for subscribers of Reliance and Escotel else Insta.
Alert charges are there @ Rs.35 p.m. with insta Alert service one can get regular updates on your account via sms of e-mail.
INSTA ALERT SERVICE
With Insta Alert service one doesn't have to wait for account information but gets regular updates on bank account via SMS or e-mail one can pick & choose the mode e-mails or SMS or both to receive alerts. Insta Alert provides alerts for he following.
SALARY CREDIT
For salary account holders, its an eager wait till there salary comes into the bank. But with Insta alert facility one gets on e-mail or SMS the minute your salary gets credited.
UTILITY BILLS PAYMENT DUE
One gets instant SMS /e-mail reminders when your utility bill are due.
Debit/Credit transactions greater than Rs.5000/ 10,000/ 20,000/ 50,000.
Weekly balance alert
Alert on balance below Rs. Rs.5000/ 10,000/ 20,000/ 50,000.
CHARGES
This facility is free for new savings account holder for first year. Just application form overleaf is to be filled to get registered for availing this facility and there is need to maker an effort to find out What's happening on account because HDFC Bank will reach with every transaction information as it happens when it happens.
TYPE OF SAVINGS ACCOUNT
1.ZERO balance saving account with FD of Rs. 25,000
If you open super saver account with a nominal sum of Rs. 25,000, you need not maintain average quarter balance of Rs.5,000 in your saving balance account you get access to zero balance savings account this after opening super saver are account even in case one doesn't maintain AQB of Rs.5,000 in saving balance account service charges of Rs.750 per quarter are not applicable.
2.Zero balance saving account with DF of Rs.50,000
If one open sweep in account with of Rs. 50,000/- which is automatically linked to savings account he/she gets an access to zero balance saving account i.e. on doesn't have the need to maintain average quarterly balance of Rs.5,000/- is saving balance account an even in case of non maintenance of AQB no service charges of Rs. 750/- per quarter are applicable one needs to maintain a minimum FD of Rs.50,000/ at all times to avoid service charges.
3.Salary A/c
When one company opts for the HDFC Bank corporate salary program, employee gets more than first a savings account. The account holders get a superior banking experience and a host of value added services. An e-age banking account that is accessible 24 hours a day, 7 days a week & 365 days a year. Through free net banking, Mobile banking, phone banking, wide network of ATMs & branches across the country employees get the convenience of having their salaries credited directly a free international debit card, O/D facility plus free Demand draft & preferential interest rates on personal loans.
Who it eligible ?
Avg. monthly salary
:Rs.7,500 plus
Minimum number of employees :15
FEATRUES
Zero balance saving account
Interest @ 3.5 p.a
Free intercity/ branch banking
Cash withdrawl
Cash deposit
DD Insurance
Cheque deposit
Free fund transfer.
Discount on Loans
Free Demand Draft Salary account holders can avail of free DDs upto Rs.25000/- only from Home Branch. This offer can be availed of through the Phone Banking or Net Banking at the branch. The amount of the DD will be debited from the salary account.
Demat A/c
For first year Rs.100 p.a., then Rs.300 p.a.
Free net banking, mobile banking phone banking Personalized cheque book4.DEFENCE PERSONNEL ACCOUNT
The corporate defence salary program is targeted at all serving defense personnel (Indian Air Force, Indian Army, Indian Navy) this program offers a host of world class services & benefits to defense personnel as free debit card free collection of outstation cheques, directly cradling salary free DDs, preferential interest rates on loans.
FEATURES
Zero international debit card
Free international debit card
Free DDs upto Rs.25,000 per instrument at home branch
Discounted rates of interest for asset products
Credit card at preferential rats
Locker facility offered at a 25% discount
Free bill pay facility
Free inter city banking
Personalized cheque book
Free net banking, mobile & phone banking
5.TRUST ACCOUNT
Trust and societies enjoy the opportunities of opening savings accounts that earn higher interest as compared to the confessional current accounts which offer zero interest besides this a host of other advantages so far available only on current accounts can now be enjoyed by trusts.
FEATURES
Free Net banking
Free Phone Banking
Demat Account
Quarterly Statement of accounts
Intercity banking
Structured Cross-sell of Mutual Funds/ RBI Bonds & other financial instruments.
HOW TO OPEN ?
1. One needs to open a savings account with a minimum initial pay in of Rs 5,000.
2. Maintain an AQB of Rs.5,000.
3. Alternatively one can have a FD of Rs. 2 lakh which gives an access to a zero balance savings account
6.ZERO BALANCE KIDS ADVANTAGES SCHEME
HDFC Bank looks after your child's financial growth and values your child future.
How to open?
To open kids advantage account child one of the parents should have savings account with the bank and need to invest a sum of Rs. 25,000 in a fixed deposit in child's name of a minimum duration of "6 months one day". With this zero balance kids advantage saving account linked to the fixed deposit will be opened in the child's name.
HOW TO OPERATE?
1. Standing interactions are given to transfer any amount from parents saving account to kids saving account to kid's saving account every month subject to a minimum of Rs.500.
2. Once the balance in kids advantage account exceeds Rs.10,000, the amount in excess of Rs.500 will be transferred into an FD chosen by the parent in child's name.
FEATURES :
1. Free insurance cover of Rs.1,00,000.
2. Option for systematic investment in mutual funds to plan for kid's future.
3. For children of age 7 years and above an ATM or Debit card will be issued in the child's name with parents permission child can withdraw upto Rs.1500 per day from ATM or shop upto maximum, of Rs.1000 per day at merchant locations.
4. Personalized cheque book is issued for the child.
5. Quarterly statement of accounts is mailed in the child's name.
6. Free net banking for monitoring child's and parent's accounts.
7. Free transfer of funds between child's and parents HDFC Bank saving accounts.
7.FAMILY SAVING ACCOUNT
With HDFC bank family saving account family members can hold individual accounts with the bank and these will be linked to give family members more privileges maximum, of four accounts can be clubbed under one group.
ADVANTAGE OF FAMILY SAVINGS ACCOUNT:
Individual family members accounts will be linked and treated as one family savings accounts.
One need to maintain average quarterly balance (AQB) of just Rs. 25,000. thus one will be saved from monitoring individual AQBs.
FEATURES
Free International Debit card for all group members till the lifetime.
2 free DDs/MCs on HDFC Bank locations per month.
Cheque bounce protection (that it savings Account to savings Account Sweep in from a nominated account).
Free standing instructions for investment into MFs.
Cash delivery @ Rs.50/- per delivery upto Rs. 1 lakh against the normal charge of Rs.100/-
Free one view to access all accounts.
Free mobile banking
Free insta Alerts
Free bill pay
CHARGES OF SAVINGS ACCOUNT
ATM CARDS
Free cards per account
:1
Replacement of damaged card:Free
Replacement of lost card
:Rs.100
Anyone or survivor accounts are eligible for two cards
DEBIT CARDS
Annual fee per card
:Free
(Annual fee waived for the First Year for one Additional Card. All sub-sequent cards will be charged).: + 12.24 Service Tax
Replacement of damaged card:Free
Replacement of lost card
:Rs.100
CHARGES FOR NON HDFC BANK ATMS:
Balance InquiryCash Withdrawal
Domestic Rs.15 - 18/-Rs.55/-
InternationalRs.15 - 18/-Rs.100/-
BOI/Canara BankN.ARs.100/-
SBIN.A.Rs.20
Anyone or survivor accounts are eligible for one card per account holder.
STATEMENT OF ACCOUNT
Quarterly
:Free
Duplicate Statement
:Rs.100 per statement
For of statement free through phone banking.
ACCOUNT CLOSURE
Before 6 months
:Rs.100
After 6 months
:No charge
INTERBRANCH BANKING
THROUGH ATMs : Free access across all branches
Through tellers :
Non cash transactions
:Free
Cash Transactions :
Upto Rs.50,000 per day:Free
Above Rs.50,000 per day:Free
DRAFT CHARGES
Drawn on branch locations
Upto Rs.25,000
:Rs.50
Above Rs. 25,000 & upto Rs. 1 lakh : Rs. 2.50 per Rs. 1000 (min Rs.50)
Above Rs. 1,00,000:Rs. 2 per Rs. 1000 (min Rs. -250, Max Rs. 5.000)
DRAWN ON NON BRANCH LOCATION :
Rs.50+ charges as below :
upto Rs.500
:Rs.10
Above Rs.500 to Rs.1000
:Rs.15
1000 -5000
:Rs.25
5000 -10000
:Rs.30
Above Rs.10,000 to Rs. 1 Lakh:Rs. 3 per/Rs. 1000
Above Rs. 1 laksh
:Rs. 2 per 1000 (min Rs. 300)
Draft cancellation charges
:Rs.50
OUTSTATION COLLECTION CHARGES
Re. 1/Rs. 1000 min Rs. 50
CHEQUE RETURN CHARGES
Rs. 250 - Insufficient FUNDS
Rs.300 - Insufficient Funds + Non Maintenance of AQB
Rs.50- Presenting Party.
CHARGES FOR SAVING A/C CUSTOMERS NOT MAINTAINING AQBS
TRANSACTION CHARGES
1.Reorder of cheque bookRs. 5 per charge leaf
2.Cash transactions at the branch3 free in the quarter Rs.60/- per
(deposits + withdrawls)Transactions for additional transactions
3.Cash Transaction at the ATM5 free in the quarter Rs.30/- per
Deposits + withdrawlsTransaction for additional transactions
4Phone banking Rs. 30 per transaction
These charges will apply in the current quarter based on the AQB maintained in the account in the pervious quarter
*NET BANKING :- No Charges
FIXED DEPOSITS
These are the deposits with the bank for fixed period which is specified at the time of making the deposits. These are repayable on the expiry of the specified period chosen be the depositor.
Bank as follows :
Simple FD
Sweep in
Super saver
SIMPLE FD
The is simple fixed deposit the nominal balance for this is Rs. 10,000 for the first time. Further one can open simple FD from nominal balance of Rs.5,000. One can choose any account plan between 15 days of 5 years. Interest is forfeited if the FD is broken before 15 days but there are no penality charges. Interest is charged from the day when FD is open.
SUPER SAVER ACCOUNT
It is an overdraft facility with super saver account. One earns a high interest on FD and at the same time enjoys the liquidity associated with savings account. Super saver account allows to issue cheques and an ATM card for withdrawls just like savings account. One gets money whenever needed from any of the extensive network of312 branches in 163 cities & over 910 ATM across the country but even in this case FD is not broken and one continues to earn interest on full amount deposited in super save account.
OPERATION
One can open super saver account with nominal balance of just Rs.25000 an enjoys a temporary withdrawal of limit of upto 75% the deposit.
Even after withdrawal of a part of limit entire deposit continues to earn a high rate of interest i.e. deposit is not broken. One is required to pay an overdraft interest that is 2% more than the interest earned by the fixe deposit for the amount of overdraft and only for the period for which one uses the money. One can take an overdraft simply by using a cheque or through an ATM for overdraft limits greater than Rs.2 lakh overdract interest will be charged at the bank's prime lending rate (PLR)
One can choose any account plan between 6 months and 5 years for super saver account even if one withdraws upto 70% of super saver account on day one an do not put it back for a year, still earns more that he/she earns through saving account.
In fact on opeening super saver account with nominal balance of Rs.5,000, one need no maintain AQB of Rs. 5000 in savings Accounts no service charges of Rs. 750/- are applicable.
Higher the balance in super saver account, and shorter the period for which one withdraws the money, higher the returns.
FEATURES
One can open super saver account with nominal balance of just Rs.25000 an enjoys a temporary withdrawal of limit of upto 75% the deposit.
Even after withdrawal of a part of limit entire deposit continues to earn a high rate of interest i.e. deposit is not broken. One is required to pay an overdraft interest that is 2% more than the interest earned by the fixed deposit for the amount of overdraft and only for the period for which one uses the money. One can take an overdraft simply by using a cheque or through an ATM for overdraft limits greater than 2 lakh overdraft interest will be charged at the bank's prime lending rate (PLR).S
One can choose any account plan between 6 months and 5 years for super saver account even if one withdraws upto 70% of super account on day one an do not put it back for a year still earns more that he/she earns through saving account.
In fact on opening super saver account with nominal balance of Rs.25000, one need no maintain AQB of Rs. 5000 in savings Accounts even if AQB of Rs. 5000 is not maintained in savings account no service charges of Rs. 750/- are applicable.
Higher the balance in super saver account, and shorter the period for which one withdraws the money, highest the returns.
Free ATM card
Personalized cheque book
Overdraft on current account against your FD
One gets an overdraft on current account against fixed deposits with the bank.
Eligibility
Super saver account should be offered to Individual or HUF saving account holders.
SWEEP IN ACCOUNT
In this scheme the fixed deposit is linked to a zero balance savings account. In the event customers saving account is short of funds, the FD is broken and the required fund is transferred into the savings account and one can withdraw this amount through ATM card or cheque.
There when one wants his/her money to earn high interest, it work like a fixed Deposit & when one wants to withdraw money is a hurry, it works like a savings account.
OPENING OF SWEEP IN ACCOUNT
One can open sweep in account with minimum amount of Rs. 50,000 and thus gets access to zero balance saving account i.e. no service charges are applicable in case of non maintenance of AQB of Rs.5000 in saving account.
One needs to maintain a minimum FD of Rs.50000 at all times to avoid service charges. In case of non maintenance of Rs.50,000 in FD, saving Account will be subject to service charges of Rs.750 per quarter in case of non maintained of AQB saving account needs to be opened with an initial amount of Rs.5000.
When one opens sweep in account , FD is automatically linked to a savings account. So, whenever one is short of funds in savings account and money is "blocked" in a fixed Deposit, one just have to issue a chaque or use ATM, money automatically gets transferred i.e. swept in from fixed deposit into savings accounts.
Sweep in account ensures that customers never have to face the embarrassment of a returned cheque or insufficient funds is their account based on their instructions, HDFC Bank automatically transfer required amount from FD to saving account.
SWEEP IN WITH CURRENT ACCOUNT
In this case current accounts is linked to Fixed Deposit but AQB balance applicable to the current account needs to be maintained irrespective of the value of the fixed deposit. Service charge applicable would be as per the current account selected. Only in case of short of funds in current account required amount is transferred from fixed deposit to current account.
FEATURES :
Fixed Deposit are maintained in units of Rs.1/-
If one require funds in savings account the exact amount needed is swept into savings account, thus minimizing interest loss.
Not Penalty Charges
There are no penalty charges for breaking Fixed Deposit to savings account.
Full Interest
Amount swept in earns interest for the tenure it has completed without any penalty. Also rest of the deposit continues to earn the original interest rate till maturity.
Linking of new Fixed deposits and savings account
Every time one opens a new deposit of Rs.5000 or above one he/she can request it to be linked to sweep in facility. But fixed deposits are broken in the order in which they are opened i.e. the earliest fixed deposit is broken first and the latest fixed deposit is broken last.
Reinvestment
One has the choice of rolling over the principal only or principal plus interest i.e. reinvest the interest the automatic rollover will be for the same tenure & at interest rate applicable on the maturity date.
Eligibility
An individual (single as joint) can open this account
INTEREST RATES FOR FIXED DEPOSIT
Period Year & AboveAmt.GeneralSenior Citizen (60
15-29 daysBelow Rs. 15 Lacs5.50%5.75%
30-45 daysBelow Rs. 15 Lacs5.50%5.75%
46-60 daysBelow Rs. 15 Lacs5.50%5.75%
61-90 daysBelow Rs. 15 Lacs5.50%6.00%
91-180 daysBelow Rs. 15 Lacs6.00%6.25%
6 Months 1 day -1 yearBelow Rs. 15 Lacs6.50%6.75%
1 year 1day - 2 yrs. Below Rs. 15 Lacs7.00%7.25%
2 years 1 day- 3 yrsBelow Rs. 15 Lacs7.00%7.25%
3 yrs 1 day - 5 yrsBelow Rs. 15 Lacs7.25%7.50%
5 yrs 1 day - 8 yrsBelow Rs. 15 Lacs7.25%7.50%
KID's ADVANTAGE ACCOUNT
Isn't wonderful that some one is looking after your child's financial growth? There is HDFC Bank which looks after your child's future.
ADVANTAGES OR FEATURES OF KID ADVANTAGE A/c
1. Free education insurance cover of Rs.1,00,000.
2. One can opt for systematic investment in mutual funds to plan for the kids future.
3. For children of age 7 years & above, an ATM/ International Debit Card will be issued in the child's name with guardian permission.
4. The amount your child is able to withdraw or spend on the ATM/ International Debit Card is Rs. 2500 per day (Rs.1500 at ATMs), Rs. 1000 at merchant locations.
5. Personalized Cheque book for your child
6. Quarterly statement A/c in your child's name.
7. Free fund transfer of funds between HDFC Bank saving A/c and KID's Advantage Account.
8. Free Net Banking Monitoring Childs and parent's account
FEES
If the balance in child's FD A/c fall below Rs.25000, non-maintenance changes as applicable in the regular saving with the will be apply.
HOW TO OPEN KAA
To open kids advantages A/c for child, one of the parents should have saving A/c with the bad and need to invest a save of Rs. 25000 in a fixed deposit in child's name of a minimum duration of "6 month one day". With this Zero balance kid's advantages A/c liked to the FD will be opened in the child's name.
HOW TO OPERATE
Standing instruction are give to bank to transfer any amount from parent/ guardian A/c to his kid's adv. A/c every month, subject to a minimum of Rs.500.
Once the balance in the kid's adv. A/c exceeds Rs.10,000 the out in excess of Rs.5000 will be transferred into FD for 1 year 1 day in parents/ guardian's child name.
CREDIT CARD
The HDFC Bank provides two types of credit card :
1. International Silver Credit Card
2. International Gold Credit Card
INTERNATIONAL SILVER CREDIT CARD :
The HDFC Bank international silver credit card is design keeping the customer in mind. It is loaded with features that will not only make a difference to customer life but also indulge with offer, pre villages, reward points, low interest rate & more.
The following are the main feature the silver credit card :
World Wise Acceptance :
The card is accepted at over 18 million VISA merchant establishment around the world (including 1,10,000 VISA merchant establishment in India)
Cash Advances :
The customer can withdraw upto 30% of credit limit as & when required. The facility is available at any of the HDFC Bank ATMs from any VISA ATMs, at any time of the day or night.
Comprehensive Insurance :
With the credit card the customer can get an unmatched feeling or security. It's carefully crafted insurance package offers comprehensive coverage against the significant risk the customer exposed to:
Lost Card Liability :
The customer can protected against any misuse your card is lost or stolen simply by putting his liability NIL from movement he report the loss to the bank.
Tele Ticketing & Travel Benefits :
The customer comes with thoughtful travel features such as attractive discount of 5.5% on International and 3.5% on domestic airline tickets and delivery of your air and rail tickets at your doorstep.
24 Hours Customer Call Center :
If the customer works any clarification of information, during and time of the day or night just call at 24 hour customer call center.
Reward Programme
The reward programme is very attractive feature provided by HDFC Bank on international silver credit card. The customer is provided a facility to earn 2 reward points for every Rs.100 the customer spend on his card, with this exciting reward programme which can be accumulated and redeemed at a later date.
INTERNATIONAL GOLD CREDIT CARD
LimitRs.40,000-Rs.3,00,000
Accepted the World Over :
The HDFC Bank International Gold Card is accepted at over 18 million VISA merchant establishment around the world, including 1,10,000 merchant establishment in India.
Cash Advance :
The customer can withdrawal 40% of the limit at a very nominal charges.
Credit Period :
Our card now gets you the highest interest free credit period of up to 55 days from the date of purchase.
Reward Programme :
The customer can earn 2 rewards point for every Rs.100 that he spends with this card. He can accumulate & redeem these reward points at a later date.
Lost Card Liability :
The card holder is also protected against any misuse in case your card is lost or stolen. This liability Nil from the movement he report the loss to the bank.
Comprehensive Insurance :
The International Gold Credit Card provides the sense of security to the customer by providing the following type of insurance package:
Nature of RisksInsurance coverage
Air Accident Rs. 25 lacs
Road/railway account Rs. 3 lacs
Hospitalized due to accidentUpto Rs. 50,000
House hold Upto Rs. 75,000
Purchase protection Upto Rs.50,000 for 180 days
Travel made convenient :
This card offer a host related benefits so that one can travel with easy comfort.
Tele Ticketing :
One can now book his air & railway ticket from the comfort of his home & get them delivered at his doorstep. He also get attractive discount of 3.5% on domestic and 5.5% on international air tickets.
Global travel related Insurance :
For a hassle free travel there are a host of travel-related insurance covers on your card.
Delayed Flight :
If the holder's flight gets delayed beyond 12 hours from its scheduled departure time then he would be reimbursed up to Rs.15000 for international flight and upto Rs. 5000 for domestic flights.
Loss of Passport/Visa :
During international travel if you happen to loss your passprot/Visa you would be reimbursed expenses incurred in obtaining to a limit of Rs.25,000.
Add-On - Card :
Share the various benefits and they joy of owing our card with loved ones by availing upto 3 add on cards.
ANALYSIS & INTERPRETATION
Q.1.How did you come to know about HDFC Bank?
To know about the HDFC Bank
SourcesPercentage of respondents
Friends
35
Marketing
40
Advertisement
10
Exhibitions
10
Others
5
As shown by the table above, people who come to know about the HDFC Bank through friends are 35%, through Marketing are 40%, through Advertisement are 10%, through Exhibitions are 10% and through Others are 5%.
SOURCES OF AWARENESS
Q. 2.Whom did you contact first in HDFC Bank.
To contact First in HDFC Bank.
Helping GroupPercentage of Respondents
Marketing Executives
40
HDFC Branch
55
Others
5
Q.3.Which factor plays an important role while opening an account?
Factors that play an important role.
FactorsPercentage of the Respondents
Advertisement
20
Special Offer
30
Operational Staff
15
Convincing Power of executives
20
Credibility of Bank
15
After conducting the survey advertisement plays 20%, Special Offer plays 30%, Operational Staff plays 15%, Convincing Power of Executives plays 20% and Credibility of Bank plays 15% role while opening an account in HDFC Bank.
Thus study shows that special offer plays the most important role while opening an account according to the respondents.
Q.4.Which product do you use the most?
Product Used the most.
Product NamePercentage of Respondents
Saving A/c
44
Current A/c
22
Fixed Deposit
28
Others
6
This table shows that the people who are using Saving A/c are 44%, Current A/c are 22%, Fixed Deposit are 28% and Others are 6%
Thus the study shows that Saving A/c is the most preferred product of HDFC Bank by respondents.
This can be shown by this Graph.
Q.5.Which FD Scheme is most popular?
Most popular FD scheme
FD SchemePercentage of the Respondents
Reinvestment
30
Super Saver
45
Sweep in A/c
25
This Table shows that people are using reinvestment are 30%, Super Saver are 45% and Sweep in A/c are 25%.
Thus the study shows that Super Saver is the most popular FD Scheme by the respondents.
Most Popular FD Scheme
Q.6.Are you able to maintain AQB of Rs. 5000 in saving account?
Percentage of the respondents maintaining AQB.
Percentage of the respondents
Yes
No
65
35
This can be shown by this Graph.
Q.7.Which of the following facilities Direct Banking Channels (DBC) you
avail the most?
Availing the most, DBC facilities.
DBC FacilitiesPercentage of the Respondents
ATM
45
Phone Banking
10
Net Banking
25
Mobile Banking
20
PERCENTAGE OF RESPONDENTS
Thus study shows that ATM is the most preferred Direct Banking Channel by the respondents.Q.8.What are the causes for not using any of the Direct Banking
Channels?
Causes responsible for not using DBC
CausesPercentage of the Respondents
Unwareness
32
Lack of Knowledge
42
Feel more secure while banking personally
21
Unsatisfied
5
This Graph shows that the main cause for not using DBC by respondents is lack of knowledge.
Q.9.How will you rate performance of direct banking channels you are
using?
Rate performance of the DBC.
Performance of DBCPercentage of the Respondents
Best
40
Good
30
Fair
20
Poor
7
Very Poor
3
The Graph shows that 40% people says DBC Best , 30% says DBC is good, 20% says DBC Fair, 7% says DBC is poor and 3% says DBC is very poor in its performance.
Q.10.How would you rate performance of HDFC Bank?
Rate performance of HDFC Bank.
Rate PerformancePercentage of the Respondents
Best
40
Good
35
Fair
20
Poor
3
Very Poor
2
This Graph shows that 40% people says HDFC is Best in its performance, 35% people says HDFC is Good, 20% says it is Fair, 3% says it is poor and 2% people says it is Very Poor in its performance.
Q.11.Did you face any problems while maintaining your account at bank?
Percentage of the respondents facing the problems while maintaining were account.
Percentage of Respondents
Yes
No
45
55
This Graph shows that 45% people says they are facing the problem while maintaining the Account and 55% people says they are not facing any of the problem while maintaining the Account in HDFC Bank.
Q.12.Why do you prefer HDFC Bank?
Preferred HDFC Bank.
FacilitiesPercentage
Better
20
Plan
30
Selusen
30
Agents
15
Others
5
This Graph shows that 20% respondents preferred HDFC Bank because of Better Facilities, 30% because of Better plan, 30% because of Selusen, 15% because of agents and 5% because of other facilities.
Q.13.Do you think private sector banks are better than public sector
banks?
Q.14.What extra service would you like to avail form the bank?
SWOT ANALYSIS
STRENGHTS :
It has an extensive distribution network comprising of 319 branches in 166 cities & one international office in Dubai this provides a competitive edge over the competitions.
The Bank has a strong retail depository base & has more than million customers.
Bank boasts of a strong brand equity.
ISO 9001 certification for its depository & custody operations & for its backend processing of retail operation & direct banking operatiosn.
The bank has a near competitive edge in area of operations.
The bank has a market leader in cash settlement service for the major stock exchanges in its country.
HDFC Bank is one of the largest private sector bank working in India.
It has a highly automated environment in terms of information technology & communication system.
Infrastructure is best.
It has many innovative products like kids Advantage scheme, Demat, NRI services.
WEAKNESS :
Account opening and delivery of cheque book take comparatively more time.
Lack of availability of different credit products like CC Limit, Bill discounting facilities.
OPPORTUNITY :
Branch expansion
Door step services
Greater liberalization in foreign ownership via FDI in Indian Pvt. Sector Banks.
CC/ OF Facilities.
Infrastructure improvements & better systems for trading & settlement in the govt. securities & foreign exchange markets.
THREATS:
The bank has started facing competition from players like SBI, PNB Bank in the finance market itself. This reduce the profit margins in the future.
Some Pvt. Banks have 7 days banking.
SUGGESTIONS
Promotional efforts like advertisement canopies, increase in number of marketing executive, distribution of brochures, sponsoring various shows & function should be increased to increase awareness about HDFC Bank and its products and attract customers.
Online trading of shares should be started for Demat A/c holders.
Service charges for non maintenance of AQB in savings account should be decreased.
To demonstrate the use of direct banking channels (DBC) Like ATM, phone banking, net banking,
Mobile banking to the customers to remove their queries and problems regarding DBC.
For account opening and delivery of welcome kit, time should be reduced.
The bank should provide for regular and frequent calls to their profitable customers to retain clientele & to make them feel more comfortable and attached to the bank (CRM)
HDFC Bank should also bring a new feature of CC (Cash credit) limit.
LIMITATION OF THE STUDY
Due to constraints of time & resources the present study is likely to suffer from certain limitations some of these are mentioned so that study can be understood in a proper respective :
Area covered under the report is sample size was very small.
The research was carried out in a short period of 7-8 weeks as a part of summer training. The project was completed within the given time frame.
Some of the respondents of the survey were unwilling to give information.
Sometimes wrong information was provided by respondents which needed to be cross checked & verified.
Chances of biasness are there because of the use of convenient sampling.
Some respondents were not available and thus needed data could not be found.
It is fully computerized bank everything is centralized at there Bombay Headquarter. Each & every formality is justified on the request from Bombay Headquarter such as PIN request for ATM, TIN for phone Banking using new cheque book, any problem in account etc.
CONCLUSION
35% of respondents came to know about bank through friends while 5% through marketing executives 10% through ads and exhibitions.
40% of respondents contracted marketing executives for the first time in the bank while 55% contracted directly HDFC Branch.
80% of respondents received introductory calls by the bank.
40% of respondents agreed that they interacted 2 times while opening their account while 20% agreed that they interacted zero and grater than 3 times respectively.
Special offer with the products played an important role while opining an account as 30% respondents and credibility of bank to which 20% of respondents agreed respectively while 15% of respondents agreed operational staff and convincing power of executives play important role.
Saving account is the most important product Next comes FD, then current and lastly Demat.
Super saver scheme is the most popular scheme in FD.
Around 65% of respondents are able to maintain their AQB of Rs.5000 in savings account.
80% of respondents are satisfied with their Demat A/c.
ATM facility is used the most among all direct banking channels 45% respondents agreed to this.
Lack of knowledge about DBC is the most important reason for not using DBC. Also unawareness about them is the reason DBC performance is rated as satisfactory.
HDFC Bank's performance is rated as satisfactory.
Executives have satisfactory knowledge about products.
55% of respondents faced no problem while maintaining their account.
HDFC Bank is preferred the most because of higher returns and better plans and services.
85% of respondents agree that private sector banks are better than public sector banks.
Respondents require new facilities as bills pay, phone banking, online trading of shares.
QUESTIONNAIRE
NAME
:
AGE
:
SEX
:
OCCUPATION
:
PHONE NO.:
1.How did you come to know about HDFC Bank?
FriendsMarketing
Ads Exhibitions Other
2.Whome did you contact first is HDFC Bank?
Marketing Executives
HDFC Bank
Other
3.Did you receive any introductory call by the Bank?
Yes
No
4.How many times did you interact while opening an account?
Zero
One
Two Three More than three
5.Which factor play an important role while opening an account?
Advertisement
Special Offers
Operational Staff
Convincing power of executives
Credibility of bank
6.Which product do you use the most?
Saving Account
Current Account
FD
Others
7.Which FD scheme is most popular?
FD
Super saver a/c
Sweep in account
8.Are you able to maintain AQB of Rs. 5000 in savings account?
Yes
No
9.Which of the following facilities Direct Banking Channels (DBC) you avail the most?
ATM
Net Banking Phone Banking
Mobile Banking
10.What are the causes for not using any of the Direct Banking channels?
Unawareness
Feel more secure while banking personally
Unsatisfied
Lack of knowledge about use Others
11.How will you rate performance of direct banking channels you are using?
Best
Good
Fair
Poor
Very Poor
12.How would you rate clarify of products by executive in the bank?
Best
Good
Fair
Poor
Very Poor
13.How would you rate performance of HDFC bank?
Best
Good
Fair
Poor
Very Poor
14.Did you face any problems while maintaining your account at bank?
If 'yes' please mention what problems you faced.
Yes
No
15.Why do you prefer HDFC Bank?
Better services
Better returns
Others
Attractive Plans
Agent Known
16.Do you think private sector banks are better than public sector banks?
Yes
No
17.What extra service would you like to avail from the bank?
_______________________________________________________________________________________________________________.
18.Suggestion: -
_______________________________________________________________________________________________________________.
PLACE:_________________
DATE:__________________
BIBLIOGRAPHY
Books:
Research Methodology
-By C.R. Kothari
Business Research and Methods
-By Donal R.& Schindler, cooper
Marketing Management
-By Philip Kotler
Magazine:
Business Today
Business World
Annual Report of HDFC Bank
Manuals
Brochures
Websites
www.hdfcbank.com
www.indiainfoline.com
FACILITIES
PERCENTAGE
EMBED MSGraph.Chart.8 \s
EMBED MSGraph.Chart.8 \s
SOURCES
PERCENTAGE
HELPING GROUP
PERCENTAGE
FD SCHEMES
PERCENTAGE
PERCENTAGE
DBC FACILITIES
PERCENTAGE
PERCENTAGE
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