Summer Internship Project

On
Comparative Analysis of Saving accounts of
Indusind
Bank with different Private Banks

Submitted by
Manoj kumar Shaw
Regd No. 1301247083
Course- PGDM ( 2013-15 )

Under the Guidance of

External guide

Internal guide

Mr. Milan Ranjan Sahoo

Asst. Prof. R K Mishra

(Branch Sales manager)

(Faculty at RCM)

Chakadola Vihar, Chandrasekharpur, Bhubaneswar, Odisha-751023

INDIA
1

CERTIFICATE
This is to certify that Mr. Manoj Kumar Shaw, a student
of Post graduate diploma in Management from Regional
college of Management, Bhubaneswar has successfully
completed his Summer internship project on the topic
of Comparative Analysis of Saving Bank Account of
Indusind Bank With different Private Banks.

REGARDS
MR. MILAN RANJAN SAHOO
(BRANCH SALES MANAGER)
2

CERTIFICATE
This is to certify that summer internship project
entitled COMPARITIVE ANALYSIS OF SAVING BANK
ACCOUNT OF INDUSIND BANK WITH DIFFERENT
PRIVATE BANKS Carried out under the direction
supervision of Asst. Prof .R K Mishra, And is accepted as
partial fulfillment for the requirement of 3rd Trimester
PGDM at REGIONAL COLLEGE OF MANAGEMENT,
Bhubaneswar, Odisha.

I am satisfied that He had worked sincerely and with

proper care.

Summer internship Project

Guide:3

Asst. prof. R K Mishra

( Regional college of
Management,Bhubaneswar)

DECLARATION
I am Manoj Kumar Shaw, a bonafide student of REGIONAL
COLLEGE

OF

MANAGEMENT,

Bhubaneswar,

pursuing

POST

GRADUATE DIPLOMA IN MANAGEMENT, do hereby declare that the

study entitled A comparative analysis of saving accounts of different
Banks, is my authentic work, I have completed my study under the
guidance of Asst.Prof. R.K.MISHARA, the Faculty Member, Regional
College Of Management, Bhubaneswar and my company guide
Mr.Milan Ranjan Sahoo (Branch Sales Maneger), IndusInd
Bank, Bhubaneswar,Damana. All the data furnished in this project
report are authentic and genuine and this report neither full nor in part
has ever been submitted for award of any other degree to either this
university or any other university

Manoj Kumar Shaw

PGDM (2013-15)
Regd no. 1301247083
Regional College of Management
Bhubaneswar, Chakadola Vihar
4

ACKNOWLEDGEMENT
This project report bears the imprint of many people on it.
I am very much thankful to REGIONAL COLLEGE OF MANAGEMENT,
Bhubaneswar for the successful completion of my SIP report
I would like to thank my project supervisor and guide Assr.Prof. R. K.
MISHRA, the Faculty Member, RCM, Bhubaneswar, for his invaluable
guidance and assistance in preparing the project report and also
contributing a lot for accomplishment of this project.
I am highly indebted to Mr. Milan Ranjan Sahoo (Branch sales
manager), IndusInd Bank, Bhubaneswar, my corporate guide, who
guided me during the internship period and suggested many issues
which has been taken care in my project work.
I am also expressing my indebtedness to my parents and my friends who
gave their full-fledged co-operation for the successful completion of
project.

Manoj Kumar Shaw

PGDM ( 2013 15 )
Regional college of management
5

Chapter
Page no.

Contents

Chapter 1
1.1 .
..
1.2 .

1.3 .
..

Objective of the Study

Methodology of the Study

1.4 .

Chapter 2

Introduction

Limitation of Study

Banks Profile
Indusind Bank

Axis Bank
..
HDFC Bank
..
ICICI Bank
.
Yes Bank

Chapter3

Saving A/c and Services

Indusind Bank

..
Axis Bank
.
HDFC Bank
.
6

ICICI Bank

Yes Bank

Chapter 4
4.1 .
..

Analysis and Interpretation

4.2 .

4.3 .

Conclusion
Bibliography

Chapter 1
1.1- Introduction:
Bank is the backbone of a modern economy. Health of banking industry is one of the most
important pre-conditions for sustained economic progress of any country. The
world of banking has assumed a new dimension at the dawn of the
2 1 St century with the advent of tech banking, thereby lending the industry a
stamp of universality. In general, banking may be classified as retail and corporate
banking. Retail banking, which is designed to meet the requirements of individual
customers and encourage their savings, includes payment of utility bills,
consumer loans, credit cards, checking account balances, ATMs,transferring
funds between accounts and the like. Corporate banking, on the other hand,
caters to the needs of corporate customers like bills discounting, opening letters of credit and
managing cash
The Indian banking scene has changed drastically with the private sector
making inroads in an area hitherto dominated by large public sector banks. Growing
disinvestment is likely to impact the banking industry as well. There is every
possibility of privatization of public sector banks, leading to greater operational
autonomy.
The development of the Indian banking sectorhas been acco
m p a n i e d b y t h e introduction of new norms such as Income
R e c o g n i t i o n a n d C a p i t a l A d e q u a c y , b y t h e government. The latter
implies that banks can lend on the basis of their respective capital base. These
norms have caused banks to construct equity on their own, before going in
for d e b t . D i s i n t e r m e d i a t i o n i s a r e a l t h r e a t f o r b a n k s . O f l a t e , b a n k s

a r e a d o p t i n g t h e E VA (Economic Value Added) concept wherein revenues

are viewed in the context of the risk associated with them.
The New World order has ensured "Survival of the Fittest". New services are
the order of the day, in order to stay ahead in the rat race. Banks are now
foraying
into
net
banking,
securities,
consumer finance, housing finance, treasury market, and
M e r c h a n t b a n k i n g a n d insurance.

About
Indusind Bank
IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in
1994. The bank offers commercial, transactional and electronic banking products and
services. Indusind Bank was inaugurated in April 1994 by then Union Finance
Minister Manmohan Singh. Indusind Bank is the first among the new-generation private
banks in India.
The bank started its operations with a capital amount of Rs. 1 billion among which Rs.
600 million was donated by the Indian Residents and Rs. 400 million was raised by the NonResident Indians. The bank has specialized in retail banking services and continuously
upgrades its support systems by introducing newer technologies. It is also working on
expanding its network of branches all across the country along with meeting the global
benchmark. According to the bank, its name is derived from the rich and vivid Indus Valley
Civilization
IndusInd Bank has 573 branches, and 1055 ATMs spread across 392 geographic locations of
the country as on 30 September 2012 with 2 representative offices, one each in London and
Dubai. Mumbai has the maximum number of bank branches followed by New
Delhi and Chennai.

Board of directors:
Mr. Ramesh Sobti has joined the bank as Managing Director & CEO, taking charge from Mr.
BhaskarGhose. Mr. R. Seshasayee, a Chartered Accountant by profession is the current
Chairman. The other members on the board are Dr. T. T. Ram Mohan, Mr. Ajay Hinduja, Mr.
S. C. Tripathi, Mr. Ashok Kini, Mrs. KanchanChitale, Mr. Vijay Vaid, Mr. R. S. Sharma and
Mr. Y. M. Kale.

Awards for Indusind Bank

2012-2013
Awarded "The best bank award among small banks for 'IT for Operational
Effectiveness' by Institute for Development and Research in Banking Technology
(IDRBT).
Awarded " Top Green IT Enterprise Award 2012 CIO Magazine"
CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2012,
organized by Info Security Magazine and iViz Security
NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost &
Sullivan)

2011-2012
Awarded as the "Best Bank Mid-sized" in Businessworld PwC Best Banks Survey
2011
Awarded as the "Best Mid-Sized Bank Bank" in Business Today KPMG Best Banks
Survey 2011
Awarded M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands
Organised by Paul Writer in association with IBM
The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"
Awarded in the "Business Enterprise Services" category for running ATMs on solar
power Organised by Panasonic Green Globe Foundation
Awarded the status of 'Star Brand 2011 ICMR Star Brands of India Survey

 Awarded the "Best Bank in New Generation Category" by the STATE FORUM OF
BANKERS CLUB KERALA
Awarded "Most Improved Bank Performance of the Year" at Financial Leadership
Awards 2012 (Bloomberg UTV)

Slogan:
IndusInd bank has used many slogans to promote their cause. Some of the slogans used by
the bank are We Care... Dil Se and We Make You Feel Richer.

Vision:
IndusInd Bank (we) will be:
A relevant business and banking partner to our clients
Customer Responsive, striving at all times to collaborate with clients in providing
solutions for their banking needs
A forerunner in the market place in terms of profitability, productivity and efficiency
Engaged with all our stakeholders and will deliver sustainable and compliant returns

Mission:

We will consistently add value to all our stakeholders and emerge as the best-in-class in the
chosen parameters amongst the comity of banks, by doubling our profits, clients and branches
within the next three years.

Ratings:
ICRA AA for Lower Tier II subordinate debt program by ICRA and ICRA AA- for Upper Tier
II bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL. CARE
AA for Lower Tier II subordinate debt program by CARE. Ind AA- for Upper Tier II bond
program by India Ratings and Research and Ind A1+ for Short Term Debt Instruments by
India Ratings and Research.

10

1.2 -Objective of the Study:

To understand the
Comparative analysis of privatize banks (HDFC Bank,ICICIBank,Axis Bank and Yes
Bank with Indusind Bank) In saving accounts sector.
To stud y
Consumer preferenceFor the above four mentioned Saving accounts players.
To analyze the
Satisfaction level of privatize banks (Mentioned above) with reference tosaving accounts
Customers.

1.3 -Methodology of the Study:

The whole study depends on data related to saving accounts of ICICI Bank,Axis Bank,
HDFC Bank , Yes Bank and Indusind Bank. There are two types of data which I have
collected for my study primary and secondary data.

Secondary Data:
After deciding my objective I looked for collecting and studying secondary data. It includes
extensive study of literature available in reports of HDFC bank ICICI
Bank,Axis Bank, Yes Bank and Indusind Bank in articles, newspapers, journals,
magazines, handouts, pamphlets describing the banks. Study of secondary data gave me an
insight into the problem into hand. It also provided me with clues and helped in
designing primary research. It provided us a more accurate picture about the
functioning of various service providers in the Bhubaneswar city. Extensive use of secondary
information in the form of magazines, journals, newspaper clippings, such as Business World,
Business Today, Business India, Economic Times specially from Internet websites of HDFC
Bank, ICICI Bank,Axis Bank, Yes Bank And Indusind Bank.

Primary Data:
The objective of Primary data is formulated on the basis of research objectives. T h e
p r i m a r y d a t a f o r m y s t u d y w a s b e i n g c o l l e c t e d b y conducting survey. To
analyze saving account holders behavior and in order to gain an insight into the saving
account holders need-satisfaction level, a questionnaire was formulated and administered
among 300 people. The tools for data collection used were different types:

Telephonic Interview:
The telephone interview was used in lieu of personal interviews. It is used because
information h a s t o b e c o l l e c t e d q u i c k l y a n d i n e x p e n s i v e l y . B y i t I
11

asked the customer about their satisfaction with their Banks saving
a c c o u n t s . T h e d i r e c t a n d structured questions were asked by customers

QUESTIONNAIRES:
This method of data collection is quite popular, particularly in case of big
enquiries. A questionnaire is a method of obtaining specific information about a defined
problem so thatdata, after analysis and interpretation, results in a better appreciation of the
problem. In order to motivate respondents and to get best of the information from them.

Execution of survey work:

The survey work is that was done to collect primary data. I conducted
Consumer Survey by using questionnaires. I individually approached to individuals and
got the questionnaire filled by them. The individuals were randomly chosen and after getting
the questionnaires filled I analyzed it for my study.

1.4Limitation of Study:
This research study was time bound and due to this only few saving accounts were
taken up for study.
This research study was taken in a limited area only (i.e. Bhubaneswar city) and
findings may vary if the area of study is increased or changed.
Some of the respondents might have been biased in their
r e s p o n s e s a s s u c h t h e analysis could vary to some extent
While analysis of data, some human errors made possible.

Sample drawn through convenience sampling, for customer survey

cannot be well associated with the attributes of population. Here I got
the questionnaire fill from people selected arbitrarily specially from the
corporate people who work in an office, small & middle level
businessman and also from those who we are familiar with e.g.
my n e i g h b o r s , m y f r i e n d s , e t c . T h e m a j o r i t y o f t h e r e s p o n d e n t s
w e r e f r o m e d u c a t e d middle class and perhaps this is the section of
society which is being targeted by banks. This is because of two reasons.
(1)The
huge
size
of
middle
class
population.
(2) Their increasing need and awareness for savings in this class.

Chapter 2
Banks Profile

12

IndusInd Bank Limited is a Mumbai based Indian new generation bank,established in 1994.
The bank offers commercial, transactional and electronic banking products and services.
Indusind Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan
Singh. Indusind Bank is the first among the new-generation private banks in India.
The bank started its operations with a capital amount of Rs. 1 billion among which Rs.
600 million was donated by the Indian Residents and Rs. 400 million was raised by the NonResident Indians. The bank has specialized in retail banking services and continuously
upgrades its support systems by introducing newer technologies. It is also working on
expanding its network of branches all across the country along with meeting the global
benchmark. According to the bank, its name is derived from the rich and vivid Indus Valley
Civilization
IndusInd Bank has 573 branches, and 1055 ATMs spread across 392 geographic locations of
the country as on 30 September 2012 with 2 representative offices, one each in London and
Dubai. Mumbai has the maximum number of bank branches followed by New
Delhi and Chennai.

Awards for Indusind Bank:

2012-2013
Awarded "The best bank award among small banks for 'IT for Operational
Effectiveness' by Institute for Development and Research in Banking Technology
(IDRBT).
Awarded " Top Green IT Enterprise Award 2012 CIO Magazine"
CISO - Awarded one of the Top 100 Chief Information Security Officer awards 2012,
organized by Info Security Magazine and iViz Security
NASSCOM IT User Award 2012 for "Environmental Sustainability" (Frost &
Sullivan)

13

2011-2012
Awarded as the "Best Bank Mid-sized" in Businessworld PwC Best Banks Survey
2011
Awarded as the "Best Mid-Sized Bank Bank" in Business Today KPMG Best Banks
Survey 2011
Awarded M.IT.R- 50 Marketing & IT Recognition Program amongst top 50 brands
Organised by Paul Writer in association with IBM
The CII Environmental Best Practice Award 2012 for the "Most Innovative Project"
Awarded in the "Business Enterprise Services" category for running ATMs on solar
power Organised by Panasonic Green Globe Foundation
Awarded the status of 'Star Brand 2011 ICMR Star Brands of India Survey
Awarded the "Best Bank in New Generation Category" by the STATE FORUM OF
BANKERS CLUB KERALA
Awarded "Most Improved Bank Performance of the Year" at Financial Leadership
Awards 2012 (Bloomberg UTV)

Slogan:
IndusInd bank has used many slogans to promote their cause. Some of the slogans used by
the bank are We Care... Dil Se and We Make You Feel Richer.

Vision:
IndusInd Bank (we) will be:
A relevant business and banking partner to our clients
Customer Responsive, striving at all times to collaborate with clients in providing
solutions for their banking needs
A forerunner in the market place in terms of profitability, productivity and efficiency
Engaged with all our stakeholders and will deliver sustainable and compliant returns.

Mission:

14

We will consistently add value to all our stakeholders and emerge as the best-in-class in the
chosen parameters amongst the comity of banks, by doubling our profits, clients and branches
within the next three years.

Ratings:
ICRA AA for Lower Tier II subordinate debt program by ICRA and ICRA AA- for Upper Tier
II bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL. CARE
AA for Lower Tier II subordinate debt program by CARE. Ind AA- for Upper Tier II bond
program by India Ratings and Research and Ind A1+ for Short Term Debt Instruments by
India Ratings and Research.

History:
Axis Bank began its operations in 1994, after the Government of India allowed new private
banks to be established. The Bank was promoted in 1993 jointly by the Administrator of
the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance
Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company,
The Oriental Insurance Corporation and United India Insurance Company. The Unit Trust of
India holds a special position in the Indian capital markets and has promoted many leading
financial institutions in the country.
Axis Bank (erstwhile UTI Bank) opened its registered office in Ahmedabad and corporate
office in Mumbai in December 1993. The first branch was inaugurated on 2 April 1994
in Ahmedabad by Dr. Manmohan Singh, the then Finance Minister of India.

Operations:
Indian Business: As on 31-Mar-2014, the Bank had a network of 2402 branches and
extension counters and 12922 ATMs. Axis Bank has the largest ATM network among private
banks in India and it operates an ATM at one of the worlds highest sites at Thegu, Sikkim at
a height of 4,023 meters (13,200 ft) above sea level.[8]
15

International Business: The Bank has seven international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Colombo and representative
offices at Dubai and Abu Dhabi, which focus on corporate lending, trade finance,
syndication, investment banking and liability businesses. In addition to the above, the Bank
has a presence in UK with its wholly owned subsidiary Axis Bank UK Limited.

Services:
Axis
Bank
operates
in
four
segments: Treasury operations, Retail
banking, Corporate/Wholesale banking and other banking business.
Treasury operations: The Banks treasury operation services include investments in
sovereign and corporate debt, equity and mutual funds, trading operations, derivative trading
and foreign exchange operations on the account, and for customers and central funding.
Retail banking: In the retail banking category, the bank offers services such as lending to
individuals/small businesses subject to the orientation, product and granularity criterion,
along with liability products, card services, Internet banking, automated teller
machines (ATM) services, depository, financial advisory services, and Non-resident
Indian (NRI) services.
Corporate/wholesale banking: The Bank offers to corporate and other organisations
services including corporate relationship not included under retail banking, corporate
advisory services, placements and syndication, management of public issues, project
appraisals, capital market related services and cash management services.
NRI services: Products and services for NRIs that facilitate investments in India.
Investment banking: Banks Investment Banking business comprises activities related
to Equity Capital Markets, Mergers and Acquisitions and Private Equity Advisory. The bank
is a SEBI-registered Category I Merchant Banker and has been active in advising Indian
companies in raising equity through IPOs, QIPs, and Rights issues etc. During the financial
year ended 31 March 2012, Axis Bank undertook 9 transactions including 5 IPOs and 2 Open
Offers.
Lending to small and medium enterprises: Axis Bank SME business is segmented in three
groups: Small Enterprises, Medium Enterprises and Supply Chain Finance. Under the Small
Business Group a subgroup for financing micro enterprises is also set up. Axis bank is the
first Indian Bank having TCDC cards in 11 currencies.

16

Agriculture banking: 759 branches of the Bank provide banking services, including
agricultural loans, to farmers. As on 31 March 2013, the Banks outstanding loans in the
agricultural sector was INR 148 billion, constituting 7.5% of its total advances.

HDFC Bank Limited was incorporated in August 1994. It was promoted by Housing
Development Finance Corporation Limited (HDFC), India's largest housing finance
company. It was among the first companies to receive an 'in principle' approval from
the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank started
operations as a scheduled commercial bank in January 1995 under the RBI's liberalization
policies.
On 26 February 2000, Times Bank Limited owned by The Times Group (Bennett, Coleman &
Co.) was merged with HDFC Bank Ltd. This was the first merger of two private banks in
India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of
Times Bank.
On 23 May 2008, HDFC Bank acquired Centurion Bank of Punjabtaking its total branches to
more than 1,000. The amalgamated bank emerged with a base of about Rs. 1, 22, 000crore
and net advances of about Rs. 89,000 crore. The balance sheet size of the combined entity is
more than Rs. 1,63,000crore.

Operations
As of 30 September 2013, HDFC Bank has 3,251 branches and 11,177 ATMs, in 2,022 cities
in India, and all branches of the bank are linked on an online real-time basis.The Bank has
overseas branch operations in Bahrain and Hong Kong.
HDFC Bank has two subsidiaries:

17

HDB Financial Services Limited (HDBFS): HDBFS is engaged in retail asset financing. It
is a non-deposit taking non-bank finance company (NBFC). Apart from lending to
individuals, the company grants loans to micro, small and medium business enterprises. It
also runs call centers for collection services to the HDFC Banks retail loan products. HDFC
Bank holds 97.4% shares in HDBFS. As of March 31, 2013, HDBFS has 230 branches in 184
cities. During the FY 2012-13, HDBFS had turnover of INR 9.6 billion and profit after tax of
INR 1 billion. It has 6,404 employees as of 31 March 2013.
HDFC Securities Limited (HSL): HSL is engaged in stock broking. As of March 31, 2013,
HDBFS has 194 branches across 150 cities. HDFC Bank has 62.1% shareholding in HSL.
During the FY 2012-13, HSL had turnover of INR 2.3 billion and profit after tax of INR 668
million. During the year, the Company received the Best e-Brokerage Award - 2012 in the
Outlook Money Awards in the runner up category.

ICICI Bank was established by the Industrial Credit and Investment Corporation of India
(ICICI), an Indian financial institution, as a wholly owned subsidiary in 1955. The parent
company was formed in 1955 as a joint-venture of the World Bank, India's public-sector
banks and public-sector insurance companies to provide project financing to Indian
industry. The bank was initially known as the Industrial Credit and Investment Corporation
of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company
was later merged with the bank.
ICICI Bank is an Indian multinational banking and financial services company
headquartered in Mumbai. As of 2014 it is the second largest bank in India in terms of assets
and market capitalization. It offers a wide range of banking products and financial services
for corporate and retail customers through a variety of delivery channels and specialized
subsidiaries in the areas of investment banking, life, non-life insurance, venture
capital and asset management. The Bank has a network of 3,539 branches and
11,162 ATMs in India, and has a presence in 19 countries.

18

ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab
National Bank and Bank of Baroda. The bank has subsidiaries in the United Kingdom,
Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka,
Qatar and Dubai International Finance Centre; and representative offices in United Arab
Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The
company's UK subsidiary has also established branches in Belgium and Germany.

Acquisitions:

1996: SCICI Ltd. A diversified financial institution with headquarters in Mumbai

1997: ITC Classic Finance. Incorporated in 1986, ITC Classic was a non-bank
financial firm that engaged in hire, purchase, and leasing operations. At the time of being
acquired, ITC Classic had eight offices, 26 outlets, and 700 brokers.

1998: Anagram Finance. Anagram had built up a network of some 50 branches in

Gujarat, Rajasthan, and Maharashtra that were primarily engaged in retail financing of
cars and trucks. It also had some 250,000 depositors.

2001: Bank of Madurai

2002: The Darjeeling and Shimla branches of Grindlays Bank

2005: Investitsionno-Kreditny Bank (IKB), a Russian bank

2007: Sangli Bank. Sangli Bank was a private sector unlisted bank, founded in 1916,
and 30% owned by the Bahte family. Its headquarters were in Sangli in Maharashtra, and
it had 198 branches. It had 158 in Maharashtra and 31 in Karnataka, and others in
Gujarat, Andhra Pradesh, Tamil Nadu, Goa, and Delhi. Its branches were relatively
evenly split between metropolitan areas and rural or semi-urban areas.

2010: The Bank of Rajasthan (BOR) was acquired by the ICICI Bank in 2010 for
30 billion. RBI was critical of BOR's promoters not reducing their holdings in the
company. BOR has since been merged with ICICI Bank.

Credit rating
On account of the growing concerns over India's sovereign debt ratings, credit ratings agency
Moody's lowered the ratings for ICICI Bank from Baa3 to Baa2 in May 2012
19

YES BANK is a private bank in India with headquarters in Mumbai. It was founded in 2004
by promoters Ashok Kapur and RanaKapoor, which had a collective shareholding of
29%. Ashok Kapur was killed in a terrorist attack in 2008 in Mumbai.
In 2010, the bank announced the roll-out of a strategic blueprint, named Version 2.0 of the
bank, to further accelerate its business growth in the retail banking space, with the objective
to achieve by 2015, a balance sheet size of 1,500 billion, deposits of 1,250 billion,
advances of 1,000 billion, a pan India network of 900 branches and a human capital base of
12,750 by 2015.
As on 31 March 2014, the bank had 560 branches and 1139 ATMs. It had a balance sheet size
of INR 1090.2 billion and Gross NPA of 0.31%.And the bank had 8,798 employees on 31
March 2014.

Awards and recognitions:

YES BANK won the Golden Peacock Award for Corporate Social Responsibility
2013

YES BANK was awarded with 'The Strongest Bank Balance Sheet in India' by the
Asian Banker Magazine.

YES BANK won four awards at the 4th CMO Asia Awards for Branding & Marketing
2013.

20

Chapter 3
Saving accounts & Services

My Account My Number:
MY ACCOUNT MY NUMBER is a unique proposition which enhances the convenience and
flexibility that is available in our extensive range of products. You now have the freedom to
choose the number of your choice for the account you open with us. The chosen account
number may be a specific pattern, a lucky number, favorite combination or just something
simple to remember.

Check on Cheque:

Now you can keep a record of all your issued cheques with the Check on Cheque
facility!! Get access to copies of your cheques on statements or through IndusNet
Interne Banking.

21

Denomination Selection:
Get the freedom to choose from a mix of 100, 500 & 1000 rupee denomination from IndusInd
Bank ATMs. The Choice Money ATM Service enables the customers to choose the
denomination(s) of Cash Withdrawal. A gap in the customer offering was identified whereby
a customer was unable to get the Cash withdrawal amount in the denomination of his choice.
This service is available to both IndusInd Bank and non IndusInd Bank customers

Cash-on-mobile:
IndusMobile's Cash-on-Mobile is an innovative feature that allows you to withdraw or send
money by just using the receiver's mobile number. You can initiate a Cash-on-Mobile
transaction from either select IndusInd Bank ATMs or through the IndusMobile Application.
The receiver of the funds can withdraw money from select IndusInd Bank ATMs. The
receiver will get all the details required for withdrawal of the cash on his or her phone.

Types of saving accounts in Indusind Bank:

There are various saving accounts of Indusind Bank which are categorized under 3 broad
categories

1Individual Saving Accounts

2 = Defense Accounts
3 - Corporate salary accounts

1 Individual Saving Accounts:

22

( A )-Indus privilege saving account

( B )-Indus maxima saving account
( C )-Indus select saving account
( D )-Indus exclusive saving account
( D )-Indus classic saving account
( E )-Indus easy(basic)saving account
( F )-Indus small account
( G )-Indus young saver

2 = Defense Accounts:
( A ) - Indus Force
( B ) - Indus Force Maxima

3 - Corporate salary accounts:

( A )- Indus comfort Exclusive
( B )- Indus comfort Select
( C )- Indus comfort Maxima
( D )- Indus comfort Premium
( E )- Indus comfort Regular

Indus privilege saving account

23

Introduction:

IndusInd Bank's Privilege Savings Account, a privilege account with a set of exclusive
features that offer more value for your money, while also gives you the power to save and
enjoy convenient and a hassle-free banking experience. The Indus Privilege Account gives
you the following dual-advantage:
Free Indus Young Saver Account with Recurring Deposit facility for your child.
Power-packed transactional account.

Balance requirement:

Average Monthly Balance to be maintained:

AMB of INR 10, 000/- in A category branches
AMB of INR 10, 000/- in B category branches
AMB of Rs.5,000/- in C and C1 category branches
AMB - Average Monthly Balance

Balance Non-Maintenance Charge

For CAT A and B branches (w.e.f July, 2012) :If AMB in the account is between INR 5,000 to Rs.10,000/-, INR 250/- per month
would be levied.
If AMB is less than INR.5,000/-, INR 350/- per month would be levied.

For CAT C and C1 branches (w.e.f July, 2012) :If AMB in the account is between INR 5,000 to INR 2,500/-, INR 250/- per month.
If AMB is less than INR.2,500/-, INR 350/- per month.

Features and benefits:

o
o
o

o
o

Debit card
IndusInd Bank presents a suite of premium to utility Debit Cards , that come loaded
with features to make banking effortless for you. Choose from any of the following:
International Classic VISA Debit Card.
International Gold VISA Debit Card.
Maximum Platinum VISA Debit Card.
Use your card to earn reward points even on your daily transactions. Go shopping,
pay utility bills, invest through SIPs or even withdraw cash and choose to get rewarded or
auto cash back into your account through Indus Money.
Easy access to Account
Access IndusInd Bank ATMs across India for cash withdrawals, cash/cheque
deposits, VISA Credit Card bill payment, balance enquiry, mobile top-up and other
miscellaneous requests, for free.
Access cash for withdrawal at over 80,000 ATMs in India, through our
network partners VISA and NFS
Access your funds at over 1 million VISA ATMs worldwide and 26 million
VISA merchant outlets.
24

5 FREE domestic other bank ATM transactions in a month (cash withdrawal, balance
enquiry, PIN change OR mini statement), unlimited if previous month's average Monthly
Balance is equal to or more than Rs. 10,000/Safe and secure online shopping - register for Verified by Visa (VbV) and use your
card for online shopping and e-Payments.
Limits on card flexible
Mobile top - up at ATMs

Banking at your convenience:

Access and transact on your account from any of our branches across India
completely FREE, be it for deposits, withdrawals or any other transactions.
365 days banking at select branches.
Doorstep banking at select locations free cheque pickup and demand draft delivery
Free demand drafts (up to INR.25,000/- per day) at all our branches.
Toll free contact centre access to our service staff

Internet Banking:

Free Internet banking service.

Free bill payment and online railway ticket booking facility.
Free funds transfer through NEFT and RTGS.

Multicity cheque book:

Free multicity cheque book

Standing instruction:

Free standing instructions, Sweep-In facility.

Statement and Nomination:

Free Quarterly Statements/Monthly e-Statements/pass book facility.

Nomination facility available.

No need to carry cash anymore

Online Bill Payment, railway ticket booking, e-Shopping.

Mobile top - ups at ATMs.
Credit Card bill payment (VISA Cards) over ATM and internet.
Cashless shopping with VISA Debit Card.

25

Free funds transfer - Use RTGS or NEFT to transfer funds anywhere in India
completely FREE.

Eligibility:

The following can open an Indus Privilege Account:

Resident individuals (sole or joint account)

Minor
Trusts, Associations, societies and charitable trusts.
Foreign national residing in India for a period greater than 180 days, can open a
savings account by providing the following:
o
Valid passport.
o
Valid visa.
o
Documentary proof of residency in India.

How to apply:
You can also open an Indus Privilege Savings Account online. Click on the Apply Now
button on this page, fill in your details and submit it. We will get back to you for further KYC
process. Alternately, you can visit a branch and submit the Savings Account form.

Documentation:
The following documents will be needed to open the Indus Privilege Account:

Duly filled account opening form.

One passport size colour photograph.
Initial deposit of INR 10,000/- or more, if account opened in A&B category branch or
INR 5,000/- or more, if account opened in C category branch.
PAN card or Form 60/61 where PAN card is not available.
Any one document from each of the following groups:

Identity Proof:

Passport or driving license or Voter's ID or Photo Debit/Credit Card

Address Proof
Passport or driving license or Voter's ID or utility bill (not older than 3 months) The above list
is indicative. For a more detailed list, please contact your nearest branch or call our contact
center

Indus maxima saving account

26

Overview:
Indus Maxima offers you with a host of premium services and exclusive banking solutions
that cater to all your financial needs. With the Indus Maxima Savings Account, you also get
your very own IndusInd Maximum Platinum Debit Card. Revel with the exclusive privileges,
discounts and offers to match your lifestyle.

Balance requirement:
Average Quarterly Balance: INR 25,000/Note Indus Maxima account allows you grouping benefits, whereby the average balance
required can be maintained across 3 accounts together

Balance Non-Maintenance Charges*

If balance less than INR 25,000/- but more than INR 18,750/-

INR 300/-

If balance less than INR 18,750/- but more than INR 12,500/-

INR 600/-

If balance less than INR 12,500/-

INR 900/-

*On Quarterly Basis

Note AQB Non - Maintenance charge, if applicable shall be recovered from the primary
account (based on choice indicated by the customer at the time off account opening)

Features and benefits:

Group account benefit- 2 add- on accounts FREE
Indus Maxima offers you the option to open up to add-on accounts FREE for your family
members. You also get grouped account benefit, whereby the average balance can be
maintained across the 3 accounts together.
Enjoy all the premium benefits on each of the 3 accounts while the balance can be maintained
through any or all of the account/s. What's more the Premium Platinum Card comes FREE on
your add-on accounts.

Maximum platinum debit card

Get the very premium Maximum Platinum Debit Card with your Indus Maxima Account. The
feature rich card offers you maximum benefits as listed below
Higher daily limits - Daily purchase limit - INR.2,00,000/- and ATM withdrawal INR.1,00,000/
Host of complimentary insurance covers

Waiver on fuel surcharge - Fuel surcharge waived off up to Rs. 250/- per month

Get 5X reward points - the higher you spend, higher the points you earn. Earn up to 5
times the reward points, under our loyalty Programme Indus Money!
o
Power of Choice: You decide whether your rewards will be in form of
automatic monthly cash back or reward points accumulation
27

o
o

Exclusive reward points redemption catalogue

Exciting usage and discount offers
Safe and Secure online shopping - register for Verified by Visa (VbV) and use your
card for online shopping and e-Payments.
MinimalPricing
While the Platinum Debit Card comes to you with a host of benefits and offers, we have
priced the same nominally. The price that you pay for the card will be of no match to the
benefits that you can get from the card, making it Maximum Platinum! Annual Platinum Card
FeeOn Primary Account

Rs.99/-

On Add-On Accounts (up to 2)

Free for Life

Host of free services and facilities:

365 day banking at select branches

Free internet and mobile banking service
Free doorstep banking at select locations Cash/cheque pickup and cash/ demand
draft delivery
Unlimited Payable at Par (PAP) cheque books
Unlimited other bank ATM withdrawals in India and 1 international ATM withdrawal
free per month
Unlimited pay orders and own bank demand srafts free
1 correspondent bank draft up to INR 50,000 free per day
Free funds transfer through NEFT or RTGS
Free Monthly Statements (Physical and/or e-Statements) and SMS alerts
Platinum Debit Card Free on Add-on account/s

Anywhere banking:

Access your account through any of our branches across India, be it for cash
withdrawals/deposits, enquiries or transactions without worrying about extra charges on
transactions at non-base branch.
Internet banking and Mobile banking allow you to transact on your account without
ever leaving the comfort of your home. Download statements, transfer funds, place an FD,
request for a demand draft, all at the click of a button!
Get cash picked up/delivered and/ or cheques picked up from your home by signing
up for doorstep banking.

Relationship banking Maximum convenience:

28

Indus Maxima account will truly bring you convenience of banking with our premium
Relationship Banking services. Basis the balance maintained in your account/s, a dedicated
Relationship Manager (RM) shall be assigned to you. Your Relationship Manager will assist
you on all your banking and investment needs. IndusInd Bank offers the following financial
servicesLockers
Demat Account
e-Trading Account
Insurance and Investment Options

Eligibility:

Resident individuals (sole or joint account)

Minor
Hindu undivided families
Trusts, associations, societies and charitable trusts.
Foreign national residing in India for a period greater than 180 days, can open a
savings account by providing the following
o
Valid Passport
o
Valid Visa
o
Document proof of residency in India

Indus Select saving account

Overview:
Welcome to Indus SELECT, our premium banking program that has been specially crafted to
deliver best in class banking experience for all our discerning clients
The program comes with a delightful blend of services and rewards which will deliver hassle
free banking along with unmatched privileges.

Dedicated Relationship Manager to guide and assist you through different financial
needs on Banking, Investments, Insurance and Loans.
Monthly physical and e-statements and Net Banking to help you track
transactions and access your account/s online, including your wealth portfolio.
Check-On-Cheque service to help you keep track of Cheques issued on your account
by way of cheque images in your physical and e-statements.
Get enhanced protection via a host of complimentary insurance covers
Air accident insurance

INR 30,00,000/

Lost card liability in case of misuse

INR 3,00,000/-

Purchases made using the card are protected against fire and theft

INR 50,000/-

29

Key features:

Family grouping facility to group all accounts of your family members and enjoy
relationship benefits across all the grouped accounts

Lifetime FREE Platinum Select Debit Card on all your grouped family accounts,
which is packed with unmatched features and tempting offers.

Buy one and Get one FREE movie ticket when you book at Book my show using
your Select Debit Card (1 free ticket every quarter)

No transaction charges at ATMs in India (over 90,000) and across the world (over a
million).

Shop without any charges at over 26 Million Visa merchant outlets worldwide.

No mark-up charges on foreign currency transactions done through Select Debit

Card at ATMs/ Merchant outlets.

Select Benefits on other products as well:

o
10% discount on lockers
o
10% discount on loan processing fee
o
1 year maintenance charges on a Demat A/c waived off

Get enhanced spend & withdrawal limits on Select Debit Card that can be altered
according to your preferences.

Enjoy waiver on surcharge of 2.5% on all petrol/fuel purchased.

Enjoy the 5X Rewards program that comes along with the Select Debit card.
Doorstep banking to help you get your Cheques and cash picked up or delivered at your
doorstep, without any charges.

Debit Cards:

Overview:

International
classic visa
debit card

The IndusInd Bank International Classic VISA Debit Card brings you to a world of
convenience and complete security, So whether you enjoy shopping, eating out,
travelling to a beautiful locale; add to it our wide array of reward and redemption
options and you have the perfect combination.

Features and Benefits:

30

Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals,
cash/cheque deposits, visa credit card bill payment, balance enquiry, mobile top-up and other
miscellaneous requests
Withdraw cash at any of the 60,000 VISA/PLUS ATMs in India and over a million
ATMs across the world, through bilateral arrangements with our network partners, VISA and
NFS
Use your card for shopping at over 4,00,000 merchant locations in India and over 26
million merchant locations across the world
Use your card for online shopping, e-payments and bill payments
Credit Card bill payment (VISA Cards) over ATM and Internet
Cash-less shopping with VISA Debit Card
Mobile top-ups at ATMs

Indus money:
A unique loyalty program for our customers that rewards them in abundance for the
purchases at merchant outlets, online shopping and e-payments using your IndusInd
International Classic VISA Debit Card. Choose from our Rewards Redemption Catalogue to
get free gifts ranging from fashion and accessories, electronics and household Items to gifts
your children would love to get, or choose to get cashback into your account.
Secure online shopping
Sign up for Verified by VISA and enjoy safe and secure online shopping and bill payments
with your IndusInd International Classic VISA Debit Card.
Daily transaction limit
The daily limits per card are as follows:
For ATMs : INR 25,000
For shopping and purchases (online/at merchant establishments): INR 50,000*
For Visa Credit Card bill payment : 49,999 per day
What's more, the limits on your card are flexible; you are the one who gets to decide the
limits on your card.
Subject to the balance in your account
In the case of other Bank ATMs, customer has to do multiple transactions due to the different
transaction limits set by different banks

31

Fees and charges

Savings Account Product Type

Annual
Fees

Indus Classic, Indus Comfort & Indus

Privilege

INR 99/-

Indus Comfort Premium

Free
Life

for

NR Regular & NR Premium

Free
Life

for

Internationa
l Gold visa
debit card
Overview:
IndusInd Bank is pleased to bring you its value added International Gold VISA Debit
Card. This card is tailor-made for YOU, to exceed your expectations at any of the
VISA ATMs or point-of-sale terminals, anywhere in the world.

32

Features and Benefits:

Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals,
cash/cheque deposits, visa credit card bill payment facility, balance enquiry, mobile top-up
and other miscellaneous requests
Withdraw cash at any of the 60,000 VISA/PLUS ATMs in India and over a million
ATMs across the world, through bilateral arrangements with our network partners, VISA and
NFS
Use your card for shopping at over 4,00,000 merchant locations in India and over 26
million merchant locations across the world
Use your card for online shopping, e-payments and bill payments
Credit Card bill payment (VISA Cards) over ATM and internet
Cashless shopping with VISA Debit Card
Mobile top-ups at ATMs
Enjoy fuel surcharge waiver of up to INR 125/- per month on fuel bills. T&C apply

Indus money:
A unique loyalty program for our customers, which rewards you for all types of spends on
your savings account, be it shopping or e-shopping, bill payments or mobile top-ups, cash
withdrawals, or even Investments through SIPs. What's more, get Cash back/fabulous
products from our catalogue against your earned reward points! Life never looked this good.

Secure online shopping

Sign up for Verified by VISA and enjoy safe and secure online shopping and bill payments
with your IndusInd International Gold VISA Debit Card.
Daily transaction limit
The daily limits per card are as follows:
For ATMs : INR 50,000
For shopping and purchases (online /at merchant establishments): INR 1,00,000
For VISA Credit Card bill payment : 49,999 per day
What's more, the limits on your card are flexible; you are the one who gets to decide the
limits on your card.

33

Subject to the balance in your account

In the case of other Bank ATMs, customer has to do multiple transactions due to the different
transaction limits set by different banks

Fees and charges

Savings Account Product Type

Annual
Fees

Indus Privilege Plus & Maxima Accounts

Free
Life

Indus Privilege, Indus Comfort Premium &

NR Premium

Rs.99/-

Indus Classic, NR Regular & Indus Comfort

Rs.199/-

for

International
Platinum visa
debit card
Overview:
Presenting the Maximum Platinum VISA Debit Card.that is exclusively crafted for
you - our valuable customers. Explore the world of exclusivity with privileges and
luxuries that matches up to your style, persona and lifestyle.

Features and Benefits:

Rejoice while you spend with your Maximum Platinum VISA Debit Card that enables you to
explore more and more shopping options. With exciting offers and exclusive privileges every
now and then, you can enjoy a whole new world of Maximum privileges and benefits
Maximum limit
Happiness has no limits!
For shopping and purchases (online /at merchant establishments): INR 2, 00,000/- per day
For ATM cash withdrawals: INR 1,00,000/- per day
For Visa Credit Card bill payment: INR 49,999/- per day
34

What's more, the limits on your card are flexible; you are the one who gets to decide the
limits on your card.
Subject to the balance in your account
In the case of other Bank ATMs, customer has to do multiple transactions due to the different
transaction limits set by different banks.
Maximum protection
Air accident insurance of INR 30,00,000/You are insured against loss of life in an air accident for up to INR 30,00,000
o
Lost Card liability: INR 3,00,000/If your card is lost or stolen, you hold no liability in case of any misuse up to INR 3,00,000
o
Purchase protection: INR 50,000/To protect your purchases and e-purchases, you are insured for up to INR 50,000
o

Secure Online Shopping

Sign up for Verified by VISA and enjoy safe and secure online shopping and
bill payments with your Maximum Platinum VISA Debit Card

We know you deserve the maximum

With the Maximum Platinum VISA Debit Card you get rewarded for all your
purchases at merchant outlets, online shopping and e-payments like never before! Kindly
refer to the table below for the accelerated rewards:
Your Monthly Spends

Points per INR 100/-

Upto Rs.5,000/-

Between Rs.5,001/- to Rs.10,000/-

Between Rs.10,001/- to Rs.20,000/-

Between Rs.20,001/- to Rs.40,000/-

Above Rs.40,001/-

Enjoy multiple options for Rewards Redemption suiting your lifestyle. Choose to get
Auto Cash back into your account or redeem your points against an exclusive redemption
catalogue.
Redemption
Option

Description

35

Exclusive
Catalogue

Product

We have designed an exclusive redemption catalogue for you. Redeem your

points for any product of your choice from an array of branded products.

Monthly Cash-Back

Redeem your points for Cash-Back. Each point will be redeemed at a value
of 50 paise.

Jet Privilege Miles

Convert your points to JP Miles. Get 1 JP Mile for every 2 Rewards Points.

Maximum convenience:

Your Maximum Platinum VISA Debit Card allows you Maximum Convenience:
Access any of the 1200 IndusInd Bank ATMs across India for cash withdrawals,
cash/cheque deposits, visa credit card bill payment, balance enquiry, mobile top-up and other
miscellaneous requests
Withdraw cash at any of the 60,000 VISA / PLUS ATMs in India and over a million
ATMs across the world, through bilateral arrangements with our network partners, VISA and
NFS
Use your card for shopping at over 4,00,000 merchant locations in India and over 26
million merchant locations across the world

Axis Bank Limited (formerly UTI Bank) is the third largest private sector bank in India. It
offers financial services to customer segments covering Large and Mid-Corporate, MSME,
Agriculture and Retail Businesses. Axis Bank has its headquarters in Mumbai, Maharashtra.

Saving Accounts of Axis Bank:

Easy Access saving account
Features and Benefits:

ATM withdrawal of Rs 40,000/- per day and purchasing

uptoRs 1,00,000
No free DD, NEFT and RTGS
One free multicity cheque book
36

Accidental insurance on debit card of Rs 2,00,000

Balance Requirement:
Initial deposit Rs 10,000/- (For metro and urban)
Rs 5,000/- (For semi urban)

Charges for non-maintenance of balance

Rs 250/- (If AMB is less than Rs 10,000)

Prime saving account

Features and Benefits

100% discount on annual debit card fee by swiping for Rs 5000/- in

a year or
doing 10 shopping transactions in a year
free 2 DD/PO ( At Axis Bank location per month )
1 Cheque book free per quarter
No free RTGS and NEFT

Balance Requirement:
Initial deposit Rs 25,000/-

Charges for non-maintenance of balance

Rs 250/- (If AMB is less than Rs 25,000)

Prime plus saving account

Features and Benefits:

20 transactions every month at any Axis branch at no charge

100% discount on annual debit card Free by swiping for Rs
50,000 in a year
2 free PAP cheque book per quarter
Accidental insurance cover uptoRs 3,00,000 by swiping once
every 6
month of debit card

10 times free ATM withdrawal from other Bank's ATM

25% discount on 1st year locker rents

Balance Requirement:
Average monthly balance Rs 1, 00,000/-

Charges for non-maintenance of balance:

37

Rs 250/- (If AMB is less than 1, 00,000)

TheHousing 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 the RBI's liberalization of the
Indian Banking Industry in 1994.The bank was incorporated in August 1994 in the
name of 'HDFC Bank Limited', with its registered office in Mumbai, India.
HDFC Bank commenced operations as a Scheduled Commercial Bank in January
1995.

Saving Accounts of Axis Bank:

Regular saving account

Features and Benefits:

Free 25 cheques /calendar quarter

no DD free
free RTGS and NEFT inward and outward is
chargeable
RS 100- overdraft facility provided

Balance Requirement:
Initial deposit Rs 10000/- (for metro and urban)
Rs 5000/- (for semi urban and rural)

Charges for non-maintenance of balance:

Rs 250/- per month (If AMB is between Rs 5,000 to Rs 10,000)

Saving Max account

Features and Benefits:
38

Free DD on HDFC Bank locations of Rs 1,00,000 per month

Free inward NEFT and RTGS but Outward is chargeable
Accidental hospitalization cover uptoRs 1,00,000
Accidental death insurance cover uptoRs 10,00,000
Free 25 cheque leaves per calendar per quarter

Balance Requirement:
Initial deposit Rs25,000/-

Charges for non-maintenance of balance:

Rs 350/- per month (If AMB is between 10,000 to 25,000)
Rs 500/- per month (If AMB is less than 10,000)

ICICI Bank is an Indian multinational banking and financial services company

headquartered in Mumbai. As of 2014 it is the second largest bank in India in terms of assets
and market capitalization. It offers a wide range of banking products and financial services
for corporate and retail customers through a variety of delivery channels and specialized
subsidiaries in the areas of investment banking, life, non-life insurance, venture
capital and asset management. The Bank has a network of 3,539 branches and
11,162 ATMs in India, and has a presence in 19 countries.

Saving Accounts of ICICI Bank:

Regular saving account
Features and Benefits

24*7 phone banking and account portability

No free DD ( Rs 50/DD uptoRs 10,000 and Rs 3 per
thousand
Debit card charges Rs 99
Free 30cheque leaves for 3 months,Rs30 for 15 leaves
39

Balance Requirement :
Initial deposit Rs 10,000/-

Charges for non maintenance of balance:

Rs 250/- per month (If AMB is between Rs 5,000 to Rs 10,000)
Rs 350/- per month (If AMB is less than Rs 5,000)

Silver saving account

Features and Benefits:

Free SMS and 15% discount on locker rents

option to change account number
Waiver of DD/PO
Unlimited times money withdrawal from any bank's ATM

Balance Requirement:
Initial deposit Rs 25,000/-

Charges for non-maintenance of balance :

Rs 175/- (If AMB is more than 10,000 but less than 25,000)
Rs 250/- (If AMB is more than 5,000 but less than 10,000)

Gold privilege saving account

Features and Benefits:

20% discount on locker rents

Free SMS
Unlimited times money withdrawal from any bank's ATM

Balance Requirement:
Initial deposit Rs50, 000/-

Charges for non-maintenance of balance:

Rs 100/- per month ( If AMB is above Rs 25,000 but below Rs
50,000 )
Rs 175/- per month ( If AMB is above Rs 10,000 but below Rs
25,000 )
Rs 250/- per month ( If AMB is between Rs 5,000 to Rs 10,000 )

40

YES BANK is a private bank in India with headquarters in Mumbai. It was founded in 2004
by promoters Ashok Kapur and RanaKapoor, which had a collective shareholding of
29%. Ashok Kapur was killed in a terrorist attack in 2008 in Mumbai.
In 2010, the bank announced the roll-out of a strategic blueprint, named Version 2.0 of the
bank, to further accelerate its business growth in the retail banking space, with the objective
to achieve by 2015, a balance sheet size of 1,500 billion, deposits of 1,250 billion,
advances of 1,000 billion, a pan India network of 900 branches and a human capital base of
12,750 by 2015.
As on 31 March 2014, the bank had 560 branches and 1139 ATMs. It had a balance sheet size
of INR 1090.2 billion and Gross NPA of 0.31%.And the bank had 8,798 employees on 31
March 2014.

Yes Banks saving account Advantages:

YES BANK savings accounts have been designed specifically to take care of your banking
requirement. Our innovative financial solution, backed by expert advice, will provide with a
truly rewarding banking experience.
Earn a higher return of 7% p.a* on your Yes Bank saving account for balances of Rs 1 lakh &
above and 6% p.a for balance below 1 lakh.

Banking convenience:
Unlimited access to any Banks ATM in India.
True anywhere banking facility for access to any Yes Bank branch across
India.
Extended Banking hours at state-of-the-art branches.

Value for Money:

Quarterly payout of saving interest.

Free RTGS/NEFT payment facility through Net Banking.
Free DD issuance upto defined limits through branch and Net- Banking.
Free utility bill payment facility through Net-Banking for registered billers.
41

 Free set-up of standing instruction facility.

Saving Accounts of YES Bank:

Saving Value account
Average Quarterly Balance (AQB)- 5,000
FD requirement for Nil AQB - 50,000
AQB Non-maintenance charges 750 / Quarter

Payment Services:
Intra-Bank Fund Transfer Branch -------- Free
Intra-Bank Fund Transfer NetBanking--- Free
RTGS Payment Branch---------------------Free
RTGS Payment NetBanking----------------Free
NEFT Payment Branch---------------------Free
NEFT Payment NetBanking----------------Free
Payable At Par Cheque Usage------------- 25 Txns per month and Rs 2 per
Txnsthereafter.
DD payable at YES BANK locations Branch------ Rs 4 per month free and Rs 50 /
Instrument thereafter
DD payable at YES BANK locations NetBanking----- Free ( plus Rs 20courier
charges )
DD payable at Correspondent Bank locations----- 1 per month free and Rs 2.5/Rs
1000( minRs 50,Max 5,000) thereafter.

Saving Advantage account

Average Quarterly Balance (AQB) 10,000
FD requirement for Nil AQB**- 50,000
AQB Non-maintenance charges 750 / Quarter

Payment Services:

Intra-Bank Fund Transfer Branch -------------- Free

Intra-Bank Fund Transfer NetBanking --------- Free
RTGS Payment Branch ------------- ------------- Free
RTGS Payment NetBanking---------------------- Free
NEFT Payment Branch----------------------------Free
NEFT Payment NetBanking----------------------Free
Payable At Par Cheque Usage ------------- 25 Txns Per Month Free;
42

 Rs 2 / Txn thereafter
DD payable at YES BANK locations Branch ----- 10 Per Month Free;
o Rs 50 / Instrument thereafter
DD payable at YES BANK locations NetBanking ------ Free (plus ` 20 courier
charges)
DD payable at Correspondent Bank locations ---------- 2 Per Month Free;( min Rs 50,
o Max. 5,000) thereafter

Saving Select account

Average Quarterly Balance (AQB) -------------Rs 10,000
FD requirement for Nil AQB*** ---------------Rs 2,50,000
AQB Non-maintenance charges ---------------Rs 750 per quarter

Payment Services:
Intra-Bank Fund Transfer Branch ---------------- Free
Intra-Bank Fund Transfer NetBanking ---------- Free
RTGS Payment Branch----------------------------- Free
RTGS Payment NetBanking------------------------Free
NEFT Payment Branch-----------------------------Free
NEFT Payment NetBanking -----------------------Free
Payable At Par Cheque Usage ----------------------- 25 Txns Per Month Free;
o Rs 2 / Txn thereafter
DD payable at YES BANK locations Branch ------ 10 Per Month Free;
Rs 50 / Instrument thereafter
DD payable at YES BANK locations NetBanking ------- Free (plus ` 20 courier
charges)
DD payable at Correspondent Bank locations ------------ 3 Per Month Free;
Rs2.5 / Rs 1,000 (Min. Rs
50,
Max. Rs 5,000) thereafter

Saving Exclusive account

Average Quarterly Balance (AQB) ------------- Rs 1 lakh
FD requirement for Nil AQB***---------------- Rs 5 lakhs
AQB Non-maintenance charges----------------Rs 1,000 per quarter
43

Payment Services:
Intra-Bank Fund Transfer Branch ---------------- Free
Intra-Bank Fund Transfer NetBanking ---------- Free
RTGS Payment Branch ---------------------------- Free
RTGS Payment NetBanking----------------------- Free
NEFT Payment Branch---------------------------- Free
NEFT Payment NetBanking---------------------- Free
Payable At Par Cheque Usage----------------------- 50 Txns Per Month Free;
Rs 2 / Txn thereafter
DD payable at YES BANK locations Branch----Rs 20 Per Month Free;
Rs 50 / Instrument thereafter
DD payable at YES BANK locations NetBanking-- Free
DD payable at Correspondent Bank locations-------Rs 3 Per Month Free;
Rs2.5 / Rs 1,000 (Min. Rs 50,
Max. Rs 5,000) thereafter

44

Chapter 4
4.1-Analysis and Interpretation:
In which bank do you have account?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

AXIS

15

15.0

15.0

15.0

ICICI

13

13.0

13.0

28.0

HDFC

9.0

9.0

37.0

OTHERS

63

63.0

63.0

100.0

Total

100

100.0

100.0

45

Statistics
In which bank do you have
account?
N

Valid

100

Missing

Mean

0
3.2000

Std. Deviation

1.15470

TABLE - 1
Finding: From the above table it shows that among 100 respondents, 63% of people having
other bank account (SBI, CANARA, and Yes Bank etc), 15% having in AXIS bank, 13% in
ICICI and 9% in HDFC bank.

Which type of account do you have?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

SAVING

80

80.0

80.0

80.0

CURRENT

12

12.0

12.0

92.0

FIXED DEPOSIT

7.0

7.0

99.0

RECURRING DEPOSIT

1.0

1.0

100.0

Total

100

100.0

100.0

46

Statistics
Which type of account do you
have?
N

Valid

100

Missing

Mean

1.2900

Std. Deviation

.64031

TABLE - 2
Finding: From the above table it shows that among the 100 respondent, 80% of people
having saving bank account, 12% having current account and 7% having fixed and
1%recurring deposits respectively.
During survey, I perceived that most of the businessmen use their current account for their
daily transaction and saving account mainly carried by salaried people who works in a office.

47

Since how many days you have maintained your account ina a particular bank?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

0-1 YEARS

6.0

6.0

6.0

1-2 YEARS

26

26.0

26.0

32.0

ABOVE 2 YEARS

68

68.0

68.0

100.0

Total

100

100.0

100.0

Statistics
Since how many days you have
maintained your account ina a
particular bank?
N

Valid

100

Missing

Mean

2.6200

Std. Deviation

.59933

48

TABLE: 3
Finding: From the above table it shows that among 100 respondents, 68% having their
account more than 2 years, 26% having 1-2 years and 6% having 0-1 years.
This surveywas done mainly among the people aged between 20 to 60 years. Most of the
people they get their saving account opened at the age of 18 that is why there are 68%
respondentswhise accounts in bank is older than 2 years.

Are you satisfied from the service of the bank for customer?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

YES

94

94.0

94.0

94.0

NO

6.0

6.0

100.0

Total

100

100.0

100.0

49

Statistics
Are

you

service

satisfied
of

the

from

the

bank

for

customer?
N

Valid

100

Missing

Mean

1.0600

Std. Deviation

.23868

TABLE: 4
Finding: From the above table it shows that among 100 respondents, 94% are satisfied from
their bank service and 6% are not satisfied.
The main reason for their satisfaction is good service and lower initial balance and mainly
very less hidden charges.
50

The main reason for their not satisfaction is lower interest rate, poor services and high hidden
charges.

How frequently do you visit your bank branch per month?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

LESS THAN 2 TIMES

37

37.0

37.0

37.0

2-5 TIMES

53

53.0

53.0

90.0

5-10 TIMES

5.0

5.0

95.0

OVER 10 TIMES

5.0

5.0

100.0

Total

100

100.0

100.0

Statistics
How frequently do you visit your
bank branch per month?
N

Valid

100

Missing

Mean

1.7800

Std. Deviation

.75985

51

TABLE: 5
Finding: From the above table it shows that among 100 respondent, 37% of people visit their
bank less than 2 times, 53% visit 2-5 times, 5% visit 5-10 & 5% above 10 times.

Do you invest on the various product of the bank?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

NO

72

72.0

72.0

72.0

YES

28

28.0

28.0

100.0

Total

100

100.0

100.0

52

Statistics
Do you invest on the various
product of the bank?
N

Valid

100

Missing

Mean

1.2800

Std. Deviation

.45126

TABLE: 6
Finding: From the above table it shows that among 100 respondents, 72% people could not
invest different product of bank and 28% are shows that they invest in different product of
bank.
Here different banking product includes mutual funds, life insurance, general insurance and
demat account etc.

53

What is the criteria an selecting a bank before opening an account in that bank?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

BRAND NAME

24

24.0

24.0

24.0

SERVICE

41

41.0

41.0

65.0

LOCATION

28

28.0

28.0

93.0

INTEREST

7.0

7.0

100.0

Total

100

100.0

100.0

Statistics
What is the criteria an selecting
a

bank

before

opening

an

account in that bank?

N

Valid

100

Missing

Mean

2.1800

Std. Deviation

.88054

54

TABLE: 7
Finding: From the above table it shows that among 100 respondents, 41% of people are
going for service while they opening their account in bank, 28% of people selecting location,
24% go for brand name & 7% looking for interest.

Normally what balance do maintain in your saving account?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

LESS THAN 10000

39

39.0

39.0

39.0

10000-20000

31

31.0

31.0

70.0

20000-30000

11

11.0

11.0

81.0

ABOVE 30000

19

19.0

19.0

100.0

Total

100

100.0

100.0

55

Statistics
Normally

what

balance

do

maintain in your saving account?

N

Valid

100

Missing

Mean

2.1000

Std. Deviation

1.12367

TABLE: 8
Finding: from the above table shows that among 100 respondents, 39% of people having less
than Rs 10000 in their account, 31% having Rs 10000-20000, 11% having 20000-30000 &
19% having above 30000.

56

What do you used most among the following?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

RTGS/NEFT

7.0

7.0

7.0

CHEQUE

21

21.0

21.0

28.0

ATM/DEBIT CARD

70

70.0

70.0

98.0

DD/PO

2.0

2.0

100.0

Total

100

100.0

100.0

Statistics
What do you used most among
the following?
N

Valid

100

Missing

Mean

2.6700

Std. Deviation

.63652

57

TABLE: 9
Finding: Above table shows that among 100 respondents, 70% of people using most
ATM/Debit card, 21% of people using their cheque, 7% using RTGS/NEFT and 2% using
DD/PO.

How much rate of interest does your bank offers you?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

4%

82

82.0

82.0

82.0

5%

6.0

6.0

88.0

6%

2.0

2.0

90.0

7%

10

10.0

10.0

100.0

Total

100

100.0

100.0

58

Statistics
How much rate of interest does
your bank offers you?
N

Valid

100

Missing

Mean

1.4000

Std. Deviation

.94281

TABLE: 10
Finding: From the above table it shows that among 100 respondents, 82% of people getting
4% rate of interest from their bank account, 2% getting 6% rate of interest and 10% getting
7% rate of interest and 6% are getting 5% Interest rate.

59

If you would be provided an increased rate for your accounts,would you like to shift in a different bank?

Valid

Frequency

Percent

Valid Percent

Cumulative Percent

YES

68

68.0

68.0

68.0

NO

32

32.0

32.0

100.0

Total

100

100.0

100.0

Statistics
If you would be provided an
increased

rate

for

your

accounts,would you like to shift

in a different bank?
N

Valid

100

Missing

Mean

1.3200

Std. Deviation

.46883

60

TABLE: 11
Finding: From the above table it shows that among 100 respondents, 68% of people are
ready to swift their banks if they are getting more rate of interest where 32% are satisfied
with their existing bank rate of interest.

4.2- Conclusion:
After doing a depth research and studying the materials available on internet, newspapers,
magazines and journals, I want to conclude that middle class people specially old aged
people prefers more to open saving account in government bank as they have fully trust on
them and these banks open saving account even in very low amount as compare to private
banks.
Now a day, private banks are getting famous day by day because of their good interest rate
and services. Some of the private banks provide unique services which no other government
banks provide e.g. Indusind bank provides saving account no. of customers choice, Axis
bank provides my image facility on customers debit card and Yes bank provides highest
61

return on saving account which is 7%p.a. ICICI bank and HDFC bank are the biggest private
banks in India. These banks have over 11,000 ATMs each in India but their interest rate on
saving account is less as compare to Indusind bank and Yes bank but Indusind bank and Yes
bank both have very limited no. of branches and ATMs.In terms of services, Indusind bank is
one the best private bank in India as compare to Axis bank, ICICI bank and HDFC bank but
its popularity is very less. Some of the people even dont hear the name of Indusind bank as
their advertisement is very less as compare to ICICI bank and HDFC bank so people
awareness is very less regarding Indusind bank.

Bibliography
Websites:

www.google.com

www.hdfcbank.com

www.indusind.com

www.icicibank.com

www.yesbank.in

www.axisbank.com

www.wikipedia.com

TEXT BOOKS:
Kothari C.R. Research Methodology, Wishva prakashan, New Delhi, 2001

ANNEXURE
Dear Sir/Madam,
Name:I am a student of Regional College of Management, Bhubaneswar and
presently doing a project on Comparative Analysis of Saving accounts of Indusind
Bank with different Banks. I request you to kindly fill the questionnaire below
and I assure you that the datagenerated shall be kept confidential.

QUESTIONNNAIRE
In which bank do you have account?
1. AXIS 2. ICICIC 3. HDFC 4. OTHERS (..)
62

 Which type of account do you have?

1. Saving 2. Current 3. Fixed Deposit 4. Recurring Deposit
Since how many days you have maintained your account in a particular bank?
1. 0-1 year 2. 1-2 years 3. Above 2 years
Are you satisfied from the service of the bank for customer?
1. Yes 2. No (..)
How frequently do you visit your bank branch per month?
1. Less than 2 times 2. 2-5 times 3. 5-10 times 4. Over 10 times
Do you invest on the various product of the bank?
1. No 2. If yes (..)
1.Life insurance 2. General insurance 3. Mutual Fund 4.Others
What is the criteria an selecting a bank before opening an account in that
bank?
1. Brand Name 2. Service 3. Location 4. Interest rate

Normally what balance do maintain in your saving account?

1. Less than 10000 2. 10000-20000 3. 20000-30000 4. Above 30000
What do you used most among the following?
1. RTGS/ NEFT 2. Cheque 3. ATM/Debit card 4. DD/PO
How much rate of interest does your bank offers you?
1. 4% 2. 5% 3. 6% 4. 7%
If you would be provided an increased rate of interest for your accounts,
would you like to shift in a different bank)?
1. Yes 2. No (.)

63