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Corporate Salary Package Essay

Executive Summary
In the growing global competition, the productivity of any business concern depends upon the behavioral aspect of consumers. This topic deals with the customer’s perception towards salary package from SBI. This project report contains 5 different chapters. The report begins with the introduction to company, its area of operation, its organization structure, its achievements, etc. The second chapter is the introduction to the Salary Package which gives a brief idea regarding Salary packages of SBI and other banks. In this chapter I have compared five top banks of India with SBI with respect to the salary package. The names of the banks are ICICI BANK, HDFC BANK, Punjab National Bank, AXIS BANK and Kotak Mahindra Bank.

The third chapter, methodology adopted in preparing this report is mentioned. It covers the sample procedure, types of data used and the data collection method. The fourth chapter comprehensive coverage of forecasting concepts and techniques which shows the analysis of data through tabulation, computation and graphical representation of data collected from survey. The fifth chapter deals with the findings, suggestion & conclusion part which is very much important after analysis is made. As we know that only analysis and conclusion is not the end of a research, so in the sixth chapter the recommendation part is covered which are made after a depth study of the analysis part of report. In each of the five chapters as described above, every chapter has been scheduled in a manner so as to enable the reader to appreciate the contents easily.

The report is supported by figures and data wherever necessary with a view to assist the reader in developing a clear cut understanding of the topic. I hope this report will be extremely useful for those it is meant. Constructive and healthy suggestions for improvements of the report will be great fully appreciated

SURAJ KUMAR

* Introduction
*
* Personal Profile
* Organization Profile
* History
* Competitors
* Strength/Opportunity & Weakness/Threats
* Nature of the project
* Brief responsibilities assigned by the project mentor

Personal Profile
My name is Suraj Kumar and I am a Bachelor of Technology graduate. At present I am doing Master’s in Business Administration from School of Management Studies, University of Hyderabad, Gachibowli, Hyderabad-500046. As part of my academics am doing summer internship in State Bank of India- India’s largest bank. Strongly believing in diversity I have done my matriculation in the year 2005 from Bihar with 1st division and intermediate from Kanpur, Uttar Pradesh with 1st division in the year 2007 and complete my B.Tech in Electronics and Instrumentation from the city of Nawabs Lucknow in the year 2011 again with 1st division.

I am capable to work under pressure both as a genuine team member as well as on own initiative and always ready to learn new things. My exceptional interpersonal skills have enabled me to integrate with my colleagues and develop valuable friendships. Positive and keen to succeed, I pick up skills quickly and apply them successfully, through both the use of initiative and the ability to comprehend instructions. As my basic functions I consider to have in me cultural team work as quality and culture on productivity, domain of techniques and strategies in selling pacifications and the most important to work on determination of goals. Organization Profile

State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets.[2] The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks—Bank of Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the State Bank of India.

Government of India nationalised the Imperial Bank of India in 1955, with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. SBI was ranked 285th in the Fortune Global 500 rankings of the world’s biggest corporations for the year 2012.[1] SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout the country.

HISTORY
The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2nd January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.

Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernize India’s economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework.

Figure 1.1 Bank of Bengal H.O.
The establishment of the Bank of Bengal marked the advent of limited liability, joint-stock banking in India. So was the associated innovation in banking, viz. the decision to allow the Bank of Bengal to issue notes, which would be accepted for payment of public revenues within a restricted geographical area. This right of note issue was very valuable not only for the Bank of Bengal but also its two siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of the banks, a capital on which the proprietors did not have to pay any interest.

The concept of deposit banking was also an innovation because the practice of accepting money for safekeeping (and in some cases, even investment on behalf of the clients) by the indigenous bankers had not spread as a general habit in most parts of India. But, for a long time, and especially upto the time that the three presidency banks had a right of note issue, bank notes and government balances made up the bulk of the investible resources of the banks. The three banks were governed by royal charters, which were revised from time to time.

Each charter provided for a share capital, four-fifth of which were privately subscribed and the rest owned by the provincial government. The members of the board of directors, which managed the affairs of each bank, were mostly proprietary directors representing the large European managing agency houses in India. The rest were government nominees, invariably civil servants, one of whom was elected as the president of the board.

Figure 1.2 Group Photogaph of Central Board (1921)
Establishment of the Reserve Bank of India as the central bank of the country in 1935 ended the quasi-central banking role of the Imperial Bank. The latter ceased to be bankers to the Government of India and instead became agent of the Reserve Bank for the transaction of government business at centres at which the central bank was not established. But it continued to maintain currency chests and small coin depots and operate the remittance facilities scheme for other banks and the public on terms stipulated by the Reserve Bank. It also acted as a bankers’ bank by holding their surplus cash and granting them advances against authorised securities.

The management of the bank clearing houses also continued with it at many places where the Reserve Bank did not have offices. The bank was also the biggest tenderer at the Treasury bill auctions conducted by the Reserve Bank on behalf of the Government. The establishment of the Reserve Bank simultaneously saw important amendments being made to the constitution of the Imperial Bank converting it into a purely commercial bank. The earlier restrictions on its business were removed and the bank was permitted to undertake foreign exchange business and executor and trustee business for the first time. The Imperial Bank during the three and a half decades of its existence recorded an impressive growth in terms of offices, reserves, deposits, investments and advances, the increases in some cases amounting to more than six-fold.

The financial status and security inherited from its forerunners no doubt provided a firm and durable platform. But the lofty traditions of banking which the Imperial Bank consistently maintained and the high standard of integrity it observed in its operations inspired confidence in its depositors that no other bank in India could perhaps then equal. All these enabled the Imperial Bank to acquire a pre-eminent position in the Indian banking industry and also secure a vital place in the country’s economic life.

Figure 1.3 Stamp of Imperial Bank of India
When India attained freedom, the Imperial Bank had a capital base (including reserves) of Rs.11.85 crores, deposits and advances of Rs.275.14 crores and Rs.72.94 crores respectively and a network of 172 branches and more than 200 sub offices extending all over the country. In 1951, when the First Five Year Plan was launched, the development of rural India was given the highest priority. The commercial banks of the country including the Imperial Bank of India had till then confined their operations to the urban sector and were not equipped to respond to the emergent needs of economic regeneration of the rural areas. In order, therefore, to serve the economy in general and the rural sector in particular, the All India Rural Credit Survey Committee recommended the creation of a state-partnered and state-sponsored bank by taking over the Imperial Bank of India, and integrating with it, the former state-owned or state-associate banks. An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955. More than a quarter of the resources of the Indian banking system thus passed under the direct control of the State.

Later, the State Bank of India (Subsidiary Banks) Act was passed in 1959, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries (later named Associates). The State Bank of India was thus born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community’s savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the
exciting field of national development. The Indian Banking System:

Banking in our country is already witnessing the sea changes as the banking sector seeks new technology and its applications. The best part is that the benefits are beginning to reach the masses. Earlier this domain was the preserve of very few organizations. Foreign banks with heavy investments in technology started giving some “Out of the world” customer services. But, such services were available only to selected few- the very large account holders. Then came the liberalization and with it a multitude of private banks, a large segment of the urban population now requires minimal time and space for its banking needs. Automated teller machines or popularly known as ATM are the three alphabets that have changed the concept of banking like nothing before. Under the Reserve Bank of India Act 1934, banks are classified as scheduled banks and non-scheduled banks. The scheduled banks are those, which are entered in the Second Schedule of RBI Act, 1934. Such banks are those, which have paid- up capital and reserves of an aggregate value of not less than Rs.5 lacks and which satisfy RBI that their affairs are carried out in the interest of their depositors.

All commercial banks Indian and Foreign, regional rural banks and state co-operative banks are Scheduled banks. Non Scheduled banks are those, which have not been included in the Second Schedule of the RBI Act, 1934.The organized banking system in India can be broadly classified into three categories: (i) Commercial Banks (ii) Regional Rural Banks and (iii) Co-operative banks. The Reserve Bank of India is the supreme monetary and banking authority in the country and has the responsibility to control the banking system in the country. It keeps the reserves of all commercial banks and hence is known as the “Reserve Bank”. Current scenario:

Currently (2013), the overall banking in India is considered as fairly mature in terms of supply, product range and reach – even though reach in rural India still remains a challenge for the private sector and foreign banks. Even in terms of quality of assets and Capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets – as compared to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the
Government With the growth in the Indian economy expected to be strong for quite some time especially in its services sector, the demand for banking services especially personal banking, mortgages and investment services are expected to be strong. Mergers & Acquisitions., takeovers, are much more in action in India. One of the classical economic functions of the banking industry that has remained virtually unchanged over the centuries is lending. On the one hand, competition has had considerable adverse impact on the margins, which lenders have enjoyed, but on the other hand technology has to some extent reduced the cost of delivery of various products and services. Bank is a financial institution that borrows money from the public and lends money to the public for productive purposes.

The Indian Banking Regulation Act of 1949 defines the term Banking Company as “Any company which transacts banking business in India” and the term banking as “Accepting for the purpose of lending all investment of deposits, of money from the public, repayable on demand or otherwise and withdrawal by cheque, draft or otherwise”. Thus Indian banking has come from a long way from being a sleepy business institution to a highly pro-active and dynamic entity. This transformation has been largely brought about by the large dose of liberalization and economic reforms that allowed banks to explore new business opportunities rather than generating revenues from conventional streams (i.e. borrowing and lending). The banking in India is highly fragmented with 30 banking units contributing to almost 100% of deposits and 60% of advances ABOUT LOGO

Togetherness is the theme of this corporate loge of SBI where the world of banking services meets the ever-changing customer’s needs and establishes a link that is like a circle, it indicates complete services towards customers. The logo also denotes a bank that it has prepared to do anything to go to any lengths, for customers. The blue pointer represent the philosophy of the bank that is always looking for the growth and newer, more challenging, more promising direction. The keyhole indicates safety and security.

Figure 1.4 SBI LOGO
ORGANISATION STRUCTURE
MANAGING DIRECTOR|

CHIEF GENERAL MANAGER|

G. M G.M G. M G. M G. M (Operations) (C&B) (F&S) (I) & CVO (P&D)

Zonal officer
Functional Heads
Regional officers

COMPETITORS
Top Performing Public Sector Banks
* Punjab National Bank
* Canara Bank
* Andhra Bank
* Allahabad Bank
* Dena Bank
Top Performing Private Sector Banks
* HDFC Bank
* ICICI Bank
* AXIS Bank
* Kotak Mahindra Bank

Top Performing Foreign Banks
* Citibank
* Standard Chartered
* HSBC Bank
* ABN AMRO Bank
* American Express

Strength/ Opportunities:
The growth for SBI in the coming years is likely to be fueled by the following factors: • Continued effort to increase low cost deposit would ensure improvement in NIMs and hence earnings. • Growing retail & SMEs thrust would lead to higher business growth. • Strong economic growth would generate higher demand for funds pursuant to higher corporate demand for credit on account of capacity expansion.

Weakness/ Threats:

The risks that could ensue to SBI in time to come are as under: • SBI is currently operating at a lowest CAR. Insufficient capital may restrict the growth prospects of the bank going forward. • Stiff competition, especially in the retail segment, could impact retail growth of SBI and hence slowdown in earnings growth. • Contribution of retail credit to total bank credit stood at 26%. Significant thrust on growing retail book poses higher credit risk to the bank. • Delay in technology upgradation could result in loss of market shares. • Management indicated a likely pension shortfall on account of AS-15 to be close to Rs50bn. • Slow down in domestic economy would pose a concern over credit off-take thereby impacting earnings growth. DIFFERENT PRODUCTS OF SBI:

DEPOSIT| LOANS| CARDS| DIFFERENT CREDIT CARDS|
Savings Account| Home Loans | Consumer Cards| SBI International cards| Life Plus Senior Citizens Savings Account| Loan Against Property | Credit Card| SBI Gold cards| Fixed Deposits | Personal Loans| Travel Card | SBI Gold Master cards| Security Deposits| Car Loan| Debit Cards| Your City Your Cards| Recurring Deposits| Loans against Securities | Commercial Cards| | Tax-Saver Fixed Deposit| Two Wheeler| Corporate Cards| Partnership Cards| Salary Account | Pre-approved Loans| Prepaid Card | |

Advantage Woman
Savings Account| Retail Asset| Purchase Card | SBI Employee Cards| Rural Savings Account| Farmer Finance| Distribution Cards| | People’s Savings Account | Business Installment
Loans| Business Card | SBI Advantage Cards|
Freedom Savings Account| Flexi Cash| Merchant Services| | Nature of the project

Projects are a group of activities that have to be performed with limited resources to yield specific objectives, in a specific time, and in a specific locality. Thus, a project is a temporary endeavor employed to create a unique product, service or results. My project nature is mission critical type of nature which means high project effort and high project return. The below diagram will explain this in more detailed way.

Figure 1.5 Project Types
Hence, I propose that we have four categories of projects out there: * Time Wasters (low Project Effort, low Project ROI)
* Quick Wins (low Project Effort, high Project ROI)
* Commodity (high Project Effort, low Project ROI)
* Mission Critical (high Project Effort, high Project ROI)

Brief responsibilities assigned by the project mentor

As my mentor is the chief manager of the SBI-PBB, Jubilee Hills branch. The following are the responsibilities he assigned me before the start of the research 1. A deep study on the CSP plans of SBI.

2. As my project is a comparative analysis vis-à-vis other banks. Hence he told me to go through the Salary account plans of other banks also.

* Introduction to CSP
* Salary Package: Product and awareness
* CSP of other banks
* Statement of the Purpose
* Research objectives
* Significance and scope

SALARY PACKAGE: PRODUCT & AWARENESS

Figure 2.1 Corporate Office

The captioned study was taken by SBI at the instance of PBBU –II department of the Local Head Office, Hyderabad. The study is important in the present context of Bank’s focus on improving the net interest margin and improving the reach of P-Segment products both asset and liability. The Salary packages are products offered to salaried people as a bundle product entailing various other facilities. Basically Salary packages are of the following types:

1. CORPORATE SALARY PACKAGES
2. DEFENCE SALARY PACKAGES
a) Defence Salary Package – ARMY : For Army & Rashtriya Rifles Personnel b) Defence Salary Package – NAVY : For Navy Personnel
c) Defence Salary Package – AIR FORCE : For Airforce Personnel d) Defence Salary Package – ASSAM RIFLES : For Assam Rifles Personnel e) Defence Salary Package – GREF : For General Reserve Engineer Force Personnel 3. PARA MILITARY SALARY PACKAGE:-For personnel of CRPF, COBRA, SSB, BSF, NSG, ITBP & CISF 4. INDIAN COAST GUARD SALARY PACKAGE: – For personnel of Indian Coast Guards 5. POLICE SALARY PACKAGE: – For personnel of Central Police Organisation & Police forces of States and Union Territories 6. RAILWAY SALARY PACKAGE: – For personnel of Indian Railways 7. STATE GOVT. SALARY PACKAGE: – : For Permanent Employees of State Government 8. CENTRAL GOVT. SALARY PACKAGE: – For Permanent Employees of all ministries and Department of Central Govt. Including Defence Civilians. Now employees of RBI & NABARD also covered.

CORPORATE SALARY PACKAGE

This package offers many concessions in service charges, interest rates on loans, etc. to employees of Corporate and Institutions which include Schools, Colleges, Universities, Government establishments/ organizations, Service organizations such as Hospitals, Hotels, Transport Corporations etc. The Package can be specially customized depending upon the business relationship that the Corporate / Institute has with the Bank.

Criteria:-

* Minimum 25 Employees
* Minimum Gross Monthly income Rs 5000/-
* Minimum monthly salary payout of Rs. 1,25,000/- for the employer * Available in four variants if Silver, Gold, Diamond and Platinum depending on the monthly income of employees.

Benefits to the Employer:-
* Provides a convenient way to manage salaries across a large number of centers * through Core Power and the Bank’s award winning Corporate Internet Banking * Reduces employer’s paperwork and salary administration cost. No charges for uploading of salaries * Employees receive instant credit of salaries

Benefits to Employees:-
* Employees will enjoy convenience of Anywhere Banking at the largest network of more than 13000 Core Banking Branches * Extensive alternative channels. 27000 plus ATMs of State Bank Group * Free Internet Banking, Mobile Banking

Complete gamut of Banking Services including:-
* Zero Balance Account facility with no charges for non-maintenance of minimum balance * Free unlimited withdrawal from SBI ATMs subject to daily caps * Free Personal Accident Insurance Cover to International Gold ATM Card Holders of Gold and Diamond accounts and International Platinum ATM Card Holders of Platinum accounts * Retain same account number even when the account is transferred to another branch * Free personalized Multi City Cheques and free personalized Ordinary Cheque Books * Free Mobile Banking including free transfer of funds up to Rs. 50,000/- * Free SMS Alerts/ e- Statements/ Internet Banking

* Easy overdraft up to 2 months salary repayable within 6 months * RTGS/NEFT, Demat facility, Systematic Investment Plan in Mutual funds. * Concession in interest on Xpress Credit Loan

* Concession in Processing Fee and Margin on retail loans * 3-in 1 Trading Account available
* Concession on purchase of Gold Coins
* Range of other value added benefits
* Free Core Power: Anywhere Banking facility with the widest network of more than 14,000 branches, This includes free transfer of funds between SBI branches, free updating of pass-books at any branch, etc. © Copyright State Bank of India.

Other Banks CSP Plans:-
As I have taken five banks and these all are one of the top banks in India, they have also a different account plans for the corporate persons. The details of these are below in the serial order of 1. Kotak Mahindra Bank

2. Axis Bank
3. HDFC Bank
4. ICICI Bank
5. Punjab National Bank

1. KOTAK MAHINDRA BANK
A. Kotak Edge Salary Account – Key Features
* Zero Balance account
* Personalized At Par Cheque book
* Reimbursement Account
* Investment Account
* Office Banking
* Free Demand Drafts
Features & Benefits – Kotak Edge Salary Account
You need a savings avenue that makes the most of your hard-earned money. We offer you the Kotak Edge Salary Account, armed with Kotak ActivMoney and our entire gamut of Banking Privileges. The feature rich Kotak Edge Salary Account is the ideal way to make your money work harder. ActivMoney

Your Kotak Edge Salary Account combines liquidity of a Savings Account with the attractive returns of a Term Deposit through the unique Kotak ActivMoney
benefit. Kotak Advantages
Experience the ‘edge’ while banking through a host of advantages offered by your Kotak Edge Savings account. * Free At-par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques across select locations in the country. The At-par Cheque facility comes to you ‘free’ of charge. You can now save DD making charges while enjoying the convenience of a cheque! * Free Cheque Collection

Outstation cheques, drawn on any of our branch locations, would be collected ‘free of charge’ for you. Only a nominal charge is levied for non-branch locations. * Electronic Fund Transfer
Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a cheque, by using our Electronic Fund Transfer facility. With this facility you can save on Demand Draft making/couriering charges and also transfer funds faster! * Free Demand Drafts

Avail Demand Drafts, free of cost, payable at any location in India, up to a pre-specified limit, just by calling our Phone Banking Service. Edge Privileges
Your Edge account has been designed with exclusive benefits that give an extra fillip to your banking experience. * Free Demat Account
As an Edge Salary customer, you can also open a Demat Account with us ‘free’ of any account opening charge. * Reimbursement Current Account*
As Salary account holders employees can also opt for a Reimbursement account which helps you to manage the official reimbursements, petty cash etc., and this facility specifically will help you eliminate cash handling related to petty expenses. * Your savings account will be provided a link to your online trading account with Kotak securities to enable your to transfer funds from your bank account to your account with KS and vice versa”. And with our Payment Gateway facility you can even pay your trading bills online from your bank account directly! Convenience Banking

Just log on to www.kotak.com to access our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the world at a time of your convenience * Unlimited Access

Access your bank account at over 35,000 VISA and Cashnet ATMs in India and over 388,000 Merchant Establishments which accepts VISA credit/debit cards in India. * Phone Banking
Dial our 24 hour Toll Free number 1800 102 6022 pan India from anywhere and our customer Care Officer will help you instantly with your banking requirements. * Net Banking
Just log on to www.kotak.com to access our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the world at a time of your convenience. * Bill pay Services

This service enables you to make your Utility Bill payments like electricity, telephone and mobile phone bills. * Mobile Banking & Alerts
Use this service to access your bank account anywhere, anytime! It is quick and easy, available to you 24X7 and it’s absolutely free! You don’t have to pay any charge to avail this service. You can use Mobile Banking to check account balance, last 3 transaction details, issued cheque status and request a cheque book. You can use Alerts Service to get Alerts by SMS and / or email whenever your balance falls below the Average Quarterly Balance or a Standing Instruction set by you fails. B. Features & Benefits – Kotak Ace Salary Account

You need a savings avenue that makes the most of your hard-earned money. We offer you the Kotak Edge Salary Account, armed with Kotak ActivMoney and our entire gamut of Banking Privileges. The feature rich Kotak Edge Salary Account is the ideal way to make your money work harder. ActivMoney

Your Ace Salary account comes to you with a host of advantages that are aimed at providing you a superior Banking experience. Kotak Advantages
Your Ace Salary account comes to you with a host of advantages that are aimed at providing you a superior Banking experience. * Free At-par Cheques
Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques across select locations in the country. The At-par Cheque facility comes to you ‘free’ of charge. You can now save DD making charges while enjoying the convenience of a cheque! * Free Demand Drafts

Avail Demand Drafts, free of cost, payable at any location in India, up to a pre-specified limit, just by calling our Phone Banking Service. * Free Cheque Collection
Outstation cheques, drawn on any of our branch locations, would be collected ‘free of charge’ for you. Only a nominal charge is levied for non-branch locations. * Free Electronic Fund Transfer

Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a cheque, by using our Electronic Fund Transfer facility. With this facility you can save on Demand Draft making/couriering charges and also transfer funds faster! * Bill Pay Services

This service enables you to make your Utility Bill payments like electricity, telephone and mobile phone bills. Ace Privileges
Your Ace account has been designed with exclusive benefits that give an extra fillip to your banking experience. * Free Demat Account
As an Ace Savings customer, you can also open a Demat Account with us ‘free’ of charge. * Reimbursement Current Account*
As Salary account holders employees can also opt for a Reimbursement account which helps you to manage the official reimbursements, petty cash etc., this facility specifically will help you eliminate cash handling related to petty expenses * Family Savings Accounts

Your Ace account allows you to now extend the Kotak banking experience to three of your family members. The Family Savings Accounts come to you with a host of benefits like Kotak ActivMoney, At-par Cheque facility and other attractive features. So now even your dear ones can enjoy banking the ‘Kotak way’! * Your savings account will be provided a link to your online trading account with Kotak securities to enable your to transfer funds from your bank account to your account with KS and vice versa”. And with our Payment Gateway facility you can even pay your trading bills online from your bank account directly! * Personal Investment Advisor

To identify and analyse your specific investment requirements we provide you a dedicated Personal Investment Advisor. This person alerts you to investment opportunities, sends you regular updates and feedback on the performance of your investments, helping you monitor, manage and grow your wealth in the ever fluid investment climate. Convenience Banking

A host of Convenience Banking facilities allow you to access your account anytime, anywhere. * Global Debit Card
Access your account free of cost at any VISA ATM in India or abroad using your Global Debit Card. You can use your Debit Card at all VISA affiliated merchant establishments worldwide. As an Ace Savings account holder you can gift free add-on cards to your family members too. * Phone Banking

Dial our 24 hour Toll Free number 1800 102 6022 pan India from anywhere and our customer Care Officer will help you instantly with your banking requirements. * Net Banking
Just log on to www.kotak.com to access our Net Banking facility. Take advantage of the Internet to bank from home, office or anywhere in the world at a time of your convenience. * Bill pay Services

This service enables you to make your Utility Bill payments like electricity, telephone and mobile phone bills. * Mobile Banking & Alerts
Use this service to access your bank account anywhere, anytime! It is quick and easy, available to you 24X7 and it’s absolutely free! You don’t have to pay any charge to avail this service. You can use Mobile Banking to check account balance, last 3 transaction details, issued cheque status and request a cheque book. You can use Alerts Service to get Alerts by SMS and / or email whenever a debit or credit above any amount specified by you happens to your account, your balance falls below the Average Quarterly Balance or a Standing Instruction set by you fails or you can even ask for your account balance to be sent to you on a daily or a weekly basis. Eligibility

The organization needs to have a minimum of 25 employees and average salary per account of Rs. 20,000 per month.

2. AXIS BANK

SALARY ACCOUNTS:-
1. Easy Access Salary Account
2. Prime Salary Account
3. Priority Salary Account
4. Wealth Salary Account
5. Defence Salary Account (Power Salute)
1.

Banking made Easy with the host of benefits provided by our Easy Access Salary Account. Highlights|
|
Bank| AXIS BANK|
Category| Regular|
Minimum AQB
(Average Quarterly Balance)| Metro/Urban branch Rs 5000
Semi/Urban branch Rs 2500
Rural branch Rs 1000 |
Interest Rate| 4%|
Card Offered| ATM cum Debit Card|
| Fees & charges|
Charges for non maintenance of minimum quarterly average balance| Metro/Urban branch (Quarterly charge) AQB less than Rs 5000 – Rs 750.
Semi-Urban branch (Quarterly charge)
AQB less than Rs 2500 – Rs 750
Rural branch (Quarterly charge)
AQB less than Rs 1000 – Rs 500|
Cash Transaction| Accounts that do not maintain minimum quarterly average balance Metro/Urban branch
5 branch transactions per quarter -Nil
Beyond 5 branch transactions per quarter- Rs 50 per transaction 5 ATM transactions per quarter Nil
Beyond 5 transactions per quarter – Rs 50 per transaction|
Cash Transaction Withdrawal| At other branches other than base branch a)
upto Rs 50,000 per day (self/3rd party) – Nil
b) Beyond Rs 50,000 – Rs 2.40/1000
c) Maximum limit per day – No limit|
Cash Deposit| Inter- City cash deposits
Cash deposits (at branches / ATMs other than the base branch) a) Maximum limit (per day) – 1,00,000
b)Cash deposits upto an amount of Rs 75000 per quarter – Nil c)Deposits above 75000 – Rs 4/1000 with a minimum of Rs 100
Intra- City
Minimum limit per day – 1,00,000
No charges will be applicable for cash deposits at home branch| ATM transaction at own bank| Nil|
Cash withdrawal at ATMs in India| At VISA/MASTERCARD enabled ATMs of partner Banks Metro/Urban – Rs 30, Gold Debit card – Nil

At other VISA/MASTERCARD enabled ATMs
Metro/Urban – Rs 50, Gold Debit card – Nil|
Cash withdrawal at ATMs in outside India| At other VISA/MASTERCARD enabled ATMs Metro/Urban – Rs 125, Gold Debit card – Rs 125|
Debit Card Fees| Issuance fees
Metro/Urban – Rs 95, Semi Urban – Rs 95, Gold Debit card – Rs 250 Annual fees
Metro/Urban – Rs 100, Semi Urban – Rs 50, Gold Debit card – Rs 250| Balance inquiry at own bank| Balance enquiry at branch – Rs 25| Balance inquiry at Other banks| At VISA/MASTERCARD enabled ATMs of partner Banks Metro/Urban – Rs 10, Gold Debit card – Nil

At other VISA/MASTERCARD enabled ATMs
Metro/Urban – Rs 25, Gold Debit card – Nil|
Replacement of Debit Card| Metro/Urban – Rs 95, Semi Urban – Rs 95, Gold Debit card – Rs 250| Issue of DD drawn on base Bank/banks branch by cheque/transfer| Drawn on Centers – Rs 2.50/Rs 1000 or part thereof (Min Rs 50, max Rs 10,000)|

DD drawn on correspondent location/other bank| Drawn on other centers – Rs 2.50/Rs 1000 ( Min Rs 50)| Statement/Duplicate Account Statement| a)Adhoc
statements/ Monthly statements/ statement of account for AQB defaulters – Rs 50 per statement| Cheque Books| a) Savings account up to 20 leaves per quarter – Free b)Savings account up to 1 cheque book per quarter – Rs 50|

Outstation cheque collection| Collection of outstation cheques – Rs 2.50/1000 min Rs 50 + Rs 30 (courier charges) Outstation cheque returns – Rs 100 per instrument|
Return of Cheque| a) Inward clearing
i) Per instrument – Rs 350
ii) Cheque returned beyond third instrument – Rs 750 per instrument b) Outward clearing check return – Rs 100 per instrument|
Stop Payment for individual cheque or a range of cheques| Rs 100 per instrument Rs 200 for a series of instruments (beyond 3 cheques)|
Closure of Account| If closed within 6 months Rs 100
If closed after 6 months Nil|
Protection for self, family and assets
* Personal Accident Cover of up to Rs.2 lakh on Visa Classic Debit Card, as per Bank’s extant guidelines [With effect from 01.05.2011, to keep the personal accident insurance cover activated, the Cardholder should have made a purchase transaction in 180 days prior to the day of the incident and received salary credits in at least two of the three months preceding the date of the incident. A report would also have to be made to Axis Bank within 60 days of a personal accident or 30 days of loss of card.] * Zero Lost Card Liability on Debit Card: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card.

All you need to do is communicate the loss of your card by calling our 24-hour customer service number. * Purchase protection: All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase, eligible for a combined lost card liability and purchase protection of up to Rs.40,000. * Life Insurance solutions in association with Max Life Insurance Co Ltd Benefits for the family

* Easy access to cash with Visa Classic Debit Card for joint accountholder with no issuance charges. Annual charges of Rs.100 waived, subject to total
purchase transactions in the year exceeding Rs.15,000 In case of exigency

* Overdraft facility with extended limit of 2/3 times of the net salary (average of 3 months) as per eligibility. This limit is capped at Rs.1,00,000 which is available for tenure of 12 months * Preferential rates on Personal Loans, Auto Loans and Home Loans, as per eligibility criteria Description| Charges|

Account opening Fees| NIL|
Account Maintenance fees| NIL|
Minimum Balance required| NIL|
Charges on non – maintenance thereof| NIL|
Payable at Par Cheque book @| One cheque book free in a quarter. Charged at Rs.50 from second chequebook onwards^| Collection of Outstation Cheques on Axis Bank Locations| NIL| Speed Clearing @| NIL|

Cheque return charges drawn on Axis Bank – Local| Rs.350 per Cheque return| Outward Cheque return| Rs.100 per instrument|
Stop Payment Charges| Rs.100 per instrument up to 3 instruments. Beyond 3 charges are Rs.200 for a series| Demand Drafts / Pay Order Issued – on Axis Bank Locations @| One free per month, with no limit on value. Charged at Rs.2.50 /1000 beyond free limit (Minimum and Maximum charges for D.D / P.O as per Bank charges apply) | Metro/Urban| First 5 Transactions OR Rs 10, 00,000 ** of cash deposit / withdrawal in a month is free, whichever is earlier.

Post that, Rs 4 per 1000 rupees on the deposit/withdrawal amount or Rs 100 whichever is higher shall be charged| Semi Urban/Rural| First 10 Transactions OR Rs 10,00,000 ** of cash deposit/withdrawal in a month is free, whichever is earlier. Post that, Rs 4 per 1000 rupees on the deposit/withdrawal amount or Rs 100 whichever is higher shall be charged | RTGS Charges| Rs.1 lakh to Rs. 5 lakh – Rs. 25 per transaction. Above Rs.5 lakh – Rs.50 per transaction| ECS Return Charges| Rs.200|

International Debit cum ATM Card for primary account holder| Visa Classic with nil Issuance Charges. Annual Charges of Rs.100 (waived subject to total purchase transactions in the year exceeding Rs.15,000)| International
Debit cum ATM Card for joint account holder| Visa Classic with nil Issuance Charges. Annual Charges of Rs.100 (waived subject to total purchase transactions in the year exceeding Rs.15,000)| Withdrawal Transaction Charges at Axis Bank ATMs| Nil|

Withdrawal Transaction Charges at Other Bank ATMs| Up to 5 transactions in a month: Nil 6th transaction onwards: Rs.20| Flexi Overdraft| Average of 3 months net salary with a multiplier effect of 2/3 times as per eligibility. Maximum cap of Rs. 1 lakh with a tenure of 12 months| Demat Account| 100% discount on AMC for 1st year and full charges from 2nd year onwards; Rs.100 for stamp duty| Online Trading| No concession|

Account Closure| Before 6 months -Rs.100; After 6 months – Nil|

2..

Experience unparalleled privileges with our Prime Salary Account. Convenience in banking:
* Bank at any of our over 1600 branches and a network of over 10000 ATMs spread across more than 1000 centers * Two free multi-city at par cheque books per quarter

* Two free Pay Orders / Demand Drafts drawn at Axis Bank locations per month * No commission charged on collection of outstation cheques drawn on Axis Bank locations * Electronic Fund Transfer facility across all banks in India * Internet Banking with secure fund transfer facility (with 2-factor authentication) to self and third party accounts * 24×7 convenience at no charges with Axis Mobile

* SMS Banking* with features such as alerts on debits / credits over Rs.5,000/- balance enquiry, enquiry on last 3 transactions and status of cheque clearance etc * Free Quarterly statement in physical form and option of free monthly e-statements Debit Card:

* MasterCard Titanium Rewards Debit Card for primary account holder with Issuance charges waived * Unlimited free cash withdrawals on all ATMs
(Axis Bank ATMs and Other Bank ATMs) * Enhanced limit of Rs.50,000 on cash withdrawals

* Purchase transaction limit of Rs. 2,00,000 in a day
* Nil fuel surcharge
* Access to lounge facilities at domestic airports
* Reward points on domestic spends
* Occasion based cash back offers
In case of exigency:
* Overdraft facility with extended limit of 2/3 times of the net salary (average of 3 months) as per eligibility. This limit is capped at Rs.1,00,000 which is available for tenure of 12 months * Preferential rates on Personal Loans, Auto Loans and Home Loans, as per eligibility criteria . 3….

With Axis Bank’s Priority Salary Account, experience the best in class service and enjoy other exclusive privileges. Axis Priority Privileges
* Exclusive premium service through Banking Privileges, Lifestyle privileges & Investment privileges * Access to Premium Banking branches
* Dedicated Relationship Manager for all banking needs
Convenience in banking
* Bank at any of our over 1600 branches and a network of over 10000 ATMs spread across more than 1000 centers * Unlimited free multi-city at par cheque books
* Unlimited free Pay Orders / Demand Drafts drawn at Axis Bank locations per quarter * No commission charged on collection of outstation cheques drawn on Axis Bank locations * Electronic Fund Transfer facility across all banks in India * Internet Banking with secure fund transfer facility (with 2-factor authentication) to self and third party accounts * 24×7 convenience at no charges with Axis Mobile

* SMS Banking* with features such as alerts on debits / credits over Rs.5,000/- balance enquiry, enquiry on last 3 transactions and status of cheque clearance etc * Free consolidated Quarterly statement in physical
form and option of free monthly e-statements eDGE Loyalty Rewards Program

Presenting eDGE Loyalty Rewards our bank wide loyalty program where you can earn points on your Savings Account transactions like * Registering for e-statement
* Ordering a cheque book online or through an ATM
* Registering and paying bills using internet banking and many more That’s not all, you also earn points on spending with your Debit / Credit Card as well. Our program lets you indulge in 500 fabulous rewards spread across multiple categories – ‘Dream Rewards, Little Indulgences, Favourites, Amazing Deals, Festive Specials, What’s new etc. Debit Card

* Free Visa Priority Platinum Debit Card for primary accountholder with annual charges waived * Unlimited free cash withdrawals on all ATMs (Axis Bank ATMs and Other Bank ATMs) * Enhanced limit of Rs.1,00,000 on cash withdrawals

* Purchase transaction limit of Rs.1,50,000 in a day
* Nil Fuel Surcharge
* Lounge Access
* Reward Points
* Occasion based cash back offers
Protection for self, family and assets
* Personal Accident Cover of up to Rs.5 lakh on Visa Priority Platinum Debit Card, as per Bank’s extant guidelines [With effect from 01.05.2011, to keep the personal accident insurance cover activated, the Cardholder should have made a purchase transaction in 90 days prior to the day of the incident and received salary credits in at least two of the three months preceding the date of the incident.

A report would also have to be made to Axis Bank within 60 days of a personal accident or 30 days of loss of card.] * Zero Lost Card Liability on Debit Card: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card. All you need to do is communicate the loss of your card by calling our 24-hour customer service number. * Purchase protection: All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase, eligible for a combined lost card liability and purchase protection of up to Rs.1,50,000. * Life Insurance solutions in association with Max Life Insurance Co Ltd Benefits for the family

* Easy access to cash with Visa Priority Platinum Debit Card for joint accountholder with no issuance charges. Annual charges of Rs.200 waived, subject to total purchase transactions in the year exceeding Rs.50,000 * One zero balance savings account can be opened for a family member anywhere in the country In case of exigency

* Overdraft facility with extended limit of 2/3 times of the net salary (average of 3 months) as per eligibility. This limit is capped at Rs.1,00,000 which is available for tenure of 12 months * Preferential rates on Personal Loans, Auto Loans and Home Loans, as per eligibility criteria 4.

A wealth of privileges for those who earn them.
Axis Wealth Privileges:
* Exclusive premium service through Banking Privileges, Lifestyle privileges & Investment privileges * Access to Premium Banking branches
* Dedicated Wealth Manager for all banking needs
eDGE Loyalty Rewards Program
Presenting eDGE Loyalty Rewards our bank wide loyalty program where you can earn points on your Savings Account transactions like * Registering for e-statement
* Ordering a cheque book online or through an ATM
* Registering and paying bills using internet banking and many more That’s not all, you also earn points on spending with your Debit / Credit Card as well. Our program lets you indulge in 500 fabulous rewards spread across multiple categories – ‘Dream Rewards, Little Indulgences, Favourites, Amazing Deals, Festive Specials, What’s new etc. Convenience in banking:

* Bank at any of our over 1600 branches and a network of over 10000 ATMs
spread across more than 1000 centers * Unlimited free multi-city at par cheque books
* Unlimited free Pay Orders / Demand Drafts drawn at Axis Bank locations * No commission charged on collection of outstation cheques drawn on Axis Bank locations * Electronic Fund Transfer facility across all banks in India * Internet Banking with secure fund transfer facility (with 2-factor authentication) to self and third party accounts * 24×7 convenience at no charges with Axis Mobile

* SMS Banking* with features such as alerts on debits / credits over Rs.5,000/- balance enquiry, enquiry on last 3 transactions and status of cheque clearance etc * Free consolidated Quarterly statement in physical form and option of free monthly e-statements Debit Card:

* Free MasterCard Premium Debit Card for primary accountholder with annual charges waived * Unlimited free cash withdrawals on all ATMs (Axis Bank ATMs and Other Bank ATMs) * Enhanced limit of Rs.2,00,000 on cash withdrawals

* Purchase transaction limit of Rs.5,00,000 in a day
* Nil Fuel Surcharge
* Lounge Access
* Reward Points
* Occasion based cash back offers
Protection for self, family and assets:
* Personal Accident Cover of up to Rs.10 lakh on MasterCard Premium Debit Card, as per Bank?s extant guidelines [With effect from 01.05.2011, to keep the personal accident insurance cover activated, the Cardholder should have made a purchase transaction in 90 days prior to the day of the incident and received salary credits in at least two of the three months preceding the date of the incident. A report would also have to be made to Axis Bank within 60 days of a personal accident or 30 days of loss of card.] * Zero Lost Card Liability on Debit Card: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card.

All you need to do is communicate the loss of your card by calling our 24-hour customer service number. * Purchase protection: All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase, eligible for a combined lost card liability and purchase protection of up to Rs.5,00,000. * Life Insurance solutions in association with Max Life Insurance Co Ltd Benefits for the family:

* Easy access to cash with MasterCard Premium Debit Card for joint accountholder with no issuance and annual charges * One zero balance savings account can be opened for a family member anywhere in the country In case of exigency:

* Overdraft facility with extended limit of 2/3 times of the net salary (average of 3 months) as per eligibility. This limit is capped at Rs.1,00,000 which is available for tenure of 12 months * Preferential rates on Personal Loans, Auto Loans and Home Loans, as per eligibility criteria 5.

Axis Bank is proud to be the banking partner of the brave men and women who defend our nation. Especially for them, Axis Bank has created a salary account that understands their life in defence forces. Convenience in banking

* Bank at any of our over 1600 branches and a network of over 10000 ATMs spread across more than 1000 centers * Unlimited free multi-city at par cheque books
* Unlimited free Pay Orders / Demand Drafts drawn at Axis Bank locations * No commission charged on collection of outstation cheques drawn on Axis Bank locations * Electronic Fund Transfer facility across all banks in India * Internet Banking with Fund transfer facility to self and third party accounts * 24×7 convenience at no charges with Axis Mobile

* SMS Banking* with features such as alerts on debits / credits over Rs.5,000/- balance enquiry, enquiry on last 3 transactions and status of cheque clearance etc * Free Quarterly statement in physical form and option of free monthly e-statements Debit Card

* Free Visa Classic Debit Card for primary accountholder with nil issuance and annual charges * Unlimited free transactions on other banks ATM
* Enhanced limit of Rs.40,000 on cash withdrawals
* Purchase transaction limit of Rs.40,000 in a day
Protection for self, family and assets
* Personal Accident Cover of up to Rs.2 lakh on Visa Classic Debit Card [With effect from 01.05.2011, to keep the personal accident insurance cover activated, the Cardholder should have received salary credits in at least two of the three months preceding the date of the incident. A report would also have to be made to Axis Bank within 60 days of a personal accident or 30 days of loss of card.] * Zero Lost Card Liability on Debit Card: As an Axis Bank Debit Card customer, you will be insured for risk of loss due to fraudulent use of a lost or stolen or missing debit card.

All you need to do is communicate the loss of your card by calling our 24-hour customer service number. * Purchase protection: All consumer durable goods purchased using the debit card are insured against fire, natural calamity, burglary and housebreaking up to 90 days from the date of purchase, eligible for a combined lost card liability and purchase protection of up to Rs.40,000. * Life Insurance solutions in association with Max Life Insurance Co Ltd Benefits for the family

* Additional add-on ATM card available for primary salary account * Easy access to cash with Visa Classic Debit Card for joint accountholder with no issuance and annual charges In case of exigency

* Overdraft facility of up to 100% of net monthly salary credited for PBORs and 200% of net monthly salary credited for Officers, at personal loan rates at Bank’s discretion. Maximum cap of Rs. 1 lakh with a tenure of 12 months * Preferential rates on Personal Loans, Auto Loans and Home Loans, as per eligibility criteria.

3. HDFC BANK
Benefits for Premium Salary Account :-
* ————————————————-
Zero Balance Savings Account
* ————————————————-
Free payable at par cheque book @ 25 cheque leaves per quarter * ————————————————-
5 Free transactions per month at Non – HDFC Bank ATMs in India * ————————————————-
Free for life Titanium Debit Card for the primary applicant with cash ATM withdrawal limit of Rs. 50,000/- per day and POS usage limit of Rs.75,000/- per day * ————————————————-

Free for life add-on International Debit Card for the Second Holder * ————————————————-
Free Personal Accidental Death Cover of Rs. 5 lakhs*
* ————————————————-
Anywhere Banking across our extensive Branch and ATM network * ————————————————-
Free Monthly Account Statements (Option of E-Mail Statements) * ————————————————-
Free Passbook facility available at home branch for account holders * ————————————————-
Free DDs / MCs up to Rs 25,000 per instrument payable at HDFC Bank branch locations * ————————————————-
Free mobile and e-mail alerts (InstaAlert facility)
* ————————————————-
Free Bill Pay (Utility payments)
* ————————————————-
Free Phone banking, Mobile banking and Net banking facilities

4. ICICI BANK

| Salary Account| Easy Pay Account|
Available to| All cities| Corporate linked Salaried Customers in all cities| Eligibility| All salaried employees of companies offered to| All salaried employees of companies offered to| Minimum monthly average balance (MAB)| Zero| Not Applicable| Charges for non maintenance of
minimum monthly average balance| Not Applicable| Not applicable| Annual Fees| Not Applicable| Rs.400 p.a.|

Cash transactions at base branch (branches in same city)| Nil for the first 4 transactions of a month; Thereafter in the month, Rs. 90 per transaction.| Nil for the first 2 transactions of a month; Thereafter in the month, Rs. 90 per transaction.| Anywhere Cash Withdrawals by customer or customers representative to the debit of the customers own savings Account at a non-base branch i.e. branch in other city| Nil for the first cash withdrawal of a calendar month; Thereafter in the month, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 (Maximum withdrawal limit –

Self: Rs.50,000 per day, Third party: Rs.15,000 per day)| Nil for the first cash withdrawal of a calendar month; Thereafter in the month, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 (Maximum withdrawal limit –

Self: Rs.50,000 per day, Third party: Rs.15,000 per day)|
Anywhere Cash deposit by customer or customers representative to the credit of the customers own savings Account at a non-base branch i.e. branch in other city| Nil for the first cash deposit of a calendar month; Thereafter in the month, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 (Maximum deposit limit – Rs.50,000 per day)| Nil for the first cash deposit of a calendar month; Thereafter in the month, Rs.5 per thousand rupees or part thereof, subject to a minimum of Rs.150 (Maximum deposit limit – Rs.50,000 per day)|

ATM Interchange (Transactions at Non ICICI Bank ATMs)| Nil for the first five transactions (inclusive of financial and non-financial transactions) in the month. Thereafter, Rs.20 (inclusive of service tax) per cash withdrawal (financial) and Rs. 8.50 (exclusive of service tax) per balance inquiry, PIN change and mini statement (non-financial) transactions.| Nil for the first five transactions (inclusive of financial and non-financial transactions) in the month. Thereafter, Rs.20 (inclusive of service tax) per cash withdrawal (financial) and Rs. 8.50 (exclusive of service tax) per balance inquiry, PIN change and mini statement (non-financial) transactions.| Transactions at ICICI Bank ATMs| Free| Free|

Issue of DD drawn on ICICI Bank by cheque/transfer| Nil upto Rs.25000 per DD per day; thereafter Rs.3 per thousand rupees or part thereof, subject to a minimum of Rs.75 and maximum of Rs.15000| Rs. 50 per DD for amounts upto Rs.10,000; For DD above Rs.10,000 – Rs. 3 per thousand rupees or part thereof, subject to a minimum of Rs.75 and maximum of Rs.15000| Statement| Free Quarterly Statement sent by post OR| Free Annual Statement sent by post| | Free Monthly e-mail statement| Free Monthly e-mail statement on request| | Free Monthly statement to be collected from branch| Free Monthly statement to be collected from branch| Debit Card Fees for first Account Holder| Nil| Rs.99 p.a.| Debit Card Fees for joint Account Holder| Nil| Rs.99 p.a.| Debit Card Cash withdrawal limit| Daily spending/ withdrawal limit: 25,000/25,000| Daily spending/ withdrawal limit: 25,000/25,000| Cheque Books| Nil for 30 payable-at-par cheque leaves in a quarter; Rs. 30 for every additional cheque book of 15 leaves | Nil for 1 cheque book of 15 cheque leaves in a year. Rs. 30 for additional cheque book of 15 leaves| Charges for Multicity cheque payment| Nil.| Not Applicable| Charges for SMS Alerts facility| Free| Free|

Outstation cheque collection –through ICICI bank branch locations| Upto Rs. 5,000 – Rs. 25 per instrument. Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument.
Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument.
Above Rs. 1 lakh – Rs. 200 per instrument| Upto Rs. 5,000 – Rs. 25 per instrument. Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument.
Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument.
Above Rs. 1 lakh – Rs. 200 per instrument|
Outstation cheque collection –through non ICICI bank branch locations| Upto Rs. 5,000 – Rs. 25 per instrument. Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument.
Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument.
Above Rs. 1 lakh – Rs. 200 per instrument| Upto Rs. 5,000 – Rs. 25 per instrument. Rs. 5,001 to Rs. 10,000 – Rs. 50 per instrument.
Rs. 10,001 to Rs. 1 lakh – Rs 100 per instrument.
Above Rs. 1 lakh – Rs. 200 per instrument|
Cash transactions at branch in the event of non-maintenance of MAB| Not Applicable| Not Applicable| Cheque books in the event of non-maintenance of MAB| Not Applicable| Not Applicable|

5. Punjab National Bank

TOTAL FREEDOM – SAVING FUND SALARY ACCOUNT
Highlights
Bank| Punjab National Bank|
Category| Salary Account|
Minimum AQB
(Average Quarterly Balance)| No minimum balance required | Interest Rate| 4%|
Card Offered| ATM cum Debit Card
Free of Cost PNB Debit/ ATM Card |

Main Features |
|
* Saving Fund Account to Corporate Employees for enabling them to have their Salary Credited as well as availing overdraft facility up to Rs. 15,000/- or the last salary credited in the account whichever is lower, at our interest rates applicable to Personal Loans to employees, it would be adjustable in bullet repayment at the time of next salary credit. * Free Cheque Books for routine requirements, (except bulk requirements for loans to be availed at any other bank- in that case normal cheque book charges would be levied). * Free inter-sol transactions

* Free funds transfer from their accounts within our CBS branches and at 50% discount at non-CBS branches. * Free issuance of all types of certificates including interest certificate and balance certificate, etc. * Free of Cost maintenance of Demat Account (we shall be waiving the charges to be earned by PNB as annual fee, charges payable to NSDL would be recovered from the customers). * 50% discount in one locker at the branch convenient to the customer * PNB-HSBC Credit Cards shall also be got considered by HSBC on priority basis (only for eligible employees, at existing HSBC centres).| Fees & charges |

|
Overdraft interest| overdraft facility up to Rs. 15,000/-| Cash Transaction| Intersol transactions including cash withdrawal/deposits Free| ATM transaction at own bank| All transactions on PNB’s Networked ATMs are free| Cash withdrawal at ATMs in India| On transactions of other banks’ ATMs, (excluding ATMs coming under MITR Shared ATM Network, NFS ATM Sharing Arrangement, PNB~SBI Bilateral ATM Sharing arrangement ) following charges shall be applicable: Cash withdrawals Rs.38/-

PNB~SBI Bilateral ATM Sharing arrangement: Rs. 22/- per transaction| Add-on debit card| Share the convenience of PNB Debit card with your loved ones .Simply gift them add-on card . PNB Customers of CBS branches can get two add-on cards alongwith his own Debit card for free.The person you are gifting the card to does not necessarily has to be an account holder with PNB.| Statement/Duplicate Account Statement| Free Statement of Accounts| Cheque Books| Free Cheque Books for routine requirements (except bulk requirements for loans to be availed at any other bank- in that case normal cheque book charges would be levied)| Interest Certificate| Free|

Balance Certificate| Free|
|

Services & Features |
Overdraft Facility| Yes|
Reward Points| No |
Internet Banking| No |
Phone Banking| No |
Mobile Banking| No |
SMS Alerts| No |
|

Need for the Study
Despite having such value proposition both to Bank as well as the customers, SBI have not made a major breakthrough in offering CSP to the corporate. That is why, this study is an attempt to put the things in right perspective. The same is done with a study on how SBI products fare vis- a-vis similar products being offered by other banks.

Statement of Problem
* SBI LHO, Hyderabad want to know about the customer perception and expectation about the salary package provide by them to the corporate people. * To find out what kind of service provide by the competitors in this sector. * To find out the reason for the low penetration.

* How the products are helping the customer.
* To know the utility of the product.
* To find the awareness level of customers towards SBI’s facilities.

Research Objectives
Summer Internship Project gives a practical exposure and helps in acquiring the on road skills.

* The objective is to find out the reasons of low penetration in corporate salary package of SBI.

* To find out the services that other bank given to their customer.

* To build the relationship with the customers and to follow up them, make sure that they are satisfied with the product.

* To maintain good relationship with the corporate employees.

* To get more references from the customers and generate new leads by following a chain process.

* To place SBI CSP plans ahead of the competitors.

* To find out the customer expectation in salary account and to find out the using patterns of the people.

* To make the customer aware of the benefits of the product and convince them to go for SBI CSP plans.

Scope of the Study

The project deals with the awareness level of the employees in respect of various salary packages lunched by the bank. This also covers comparison of SBI Salary Packages with other similar products from the competitors in terms of procedures, features, advantages and disadvantages from a customer’s point of view. Finally some marketing tips are also given to popularize the product among customers. The study deals with the comparison of Salary Package products of the following banks:

1. State bank of India
2. Punjab National Bank
3. HDFC Bank
4. ICICI Bank
5. Axis Bank
6. Kotak Mahindra Bank

It covers the following features of their personal loan products which were rated important by the customer during the course of study: eligibility, Loan amount, Interest rates, Processing fee, Tenure of the Loan, Documentation required, Special strategy acquired, additional charges levied, Margin money required, Guarantee etc. The study is conducted in the Jubilee Hills Branch of SBI under Hyderabad Zone. The feedback has been collected from the Customers as well as the staff members dealing with corporate salary package customers of the Bank.

Limitation of the study

Although the research has reached its aims, but there were some unavoidable limitation.

First, is the sample size because of the time limit, this research was conducted only on a small size of population. Second, is the problem faced in taking appointment from the corporate organization, as my project is of 8 weeks so, it was difficult to get appointments from the HR of the organizations in very less time. Third, one is the access. My study depends on having access to people and organizations that’s why for whatever reason sometime the access was denied or otherwise limited.

Period of the study

The time period of the study is 8 weeks starting from 12th May 2013 and ended at 8th July 2013.

* Research methodology

Research methodology
Research methodology is a methodology for collecting all sorts of information & data pertaining to the subject in question. The objective is to examine all the issues involved & conduct situational analysis. The methodology includes the overall research design, sampling procedure & fieldwork done & finally the analysis procedure. The methodology used in the study consistent of sample survey using both primary & secondary data. The primary data has been collected with the help of questionnaire as well as personal observation book, magazine; official websites of various banks, bank’s periodicals, press reports, brochures, journals etc. have been referred for secondary data. The questionnaire has been drafted & presented by the researcher himself. A. Sample Size:

Sample of 224 people was taken into study, and their data was collected. B. Sampling Technique:
To study the Project, a Simple Random Sampling technique is used. C. Data Collection:
Collection of data is done by Secondary Data as well as primary data & through Questionnaire .i.e., * Primary data was collected through Questionnaire and
* Secondary data was collected through official websites of various banks, bank’s periodicals, press reports, brochures, journals etc.

D. Data Analysis:
After data collection, I’m able to analyze customer’s views, ideas and opinions related to CSP and about SBI CSP and from this, SBI will come to know the customer requirements.

E. Data Interpretation:

* Interpretation of data is done by using statistical tools like Pie diagrams, Bar graphs, and also using quantitative techniques (by using these techniques) accurate information is obtained.

F. Classification & tabulation of data:

* The data thus collected were classified according to the categories, counting sheets & the summary tables were prepared. The resultant tables were one dimensional, two dimensional.

G. Statistical tools used for analysis:

* Out of the total respondents, the respondents who responded logically were taken into account while going into statistical details & analysis of data. The tools that have been used for analyzing data & inference drawing are mainly statistical tools like percentage, ranking, averages, etc. As per questionnaire and market surveys I have find out different responses from different people. According to their responses I analyze the findings and draw certain remarks.

* Analysis of data

GRAPHICAL REPRESENTATION OF DATA

Q.1) In which bank the company have tie-up for the salary account of the employees.

State Bank of India| 88|
Axis Bank| 72|
HDFC Bank| 88|
ICICI Bank| 32|
Punjab National Bank| 24|
Kotak Mahindra| 8|
Others| 56|
Table 4.1

Figure 4.1

Out of 224 correspondents, it has been observed that approximately 120 correspondents said that SBI has tie-up with their respective organizations, which is around 54% of total population. Similarly 16, 24, 48, 8, 4 and 4 correspondents said Axis Bank, HDFC Bank, ICICI Bank, PNB, Kotak Mahindra Bank and others respectively. Q.2) When you think about bank, which bank comes in to your mind first?

State Bank of India| 120|
Axis Bank| 16|
HDFC Bank| 24|
ICICI Bank| 48|
Punjab National Bank| 8|
Kotak Mahindra| 4|
Others| 4|
Table 4.2

Figure 4.2

It has been observed that approximately 120 (approx. 54%) correspondents said
that whenever they think about bank SBI comes first in their mind. It also shows that SBI have the highest position in perception of the people in Hyderabad as per my sample.

Q.3) According to you which bank is best in service.

Axis Bank| 16|
HDFC Bank| 48|
ICICI Bank| 88|
Kotak Mahindra Bank| 0|
Punjab National Bank| 0|
State Bank of India| 72|
Others| 0|
Table 4.3

Figure 4.3

As far as service is concern only 72 out of 224 correspondents said that the services given by SBI is best of all the banks which is around 31% of the sample. Most of the people think that ICICI BANK (40%) is the best bank in India with respect to the services given to the customers.

Q.4) On the basis of brand image, rate these bank (in decreasing order where 5 being the best).

* 5-much higher
* 4-higher
* 3-about the same
* 2-slightly lower
* 1-much lower

Figure 4.4

This question in my research is done on the scale of 5, where 5 being the best. Out of 224 correspondents 72, 48, 32, 24, and 48 has given 5, 4, 3, 2,
and 1 respectively.

Q.5) Which bank would you like to prefer when you want to take personal loans?

Bank| No. of responses|
State Bank of India| 160|
Axis Bank| 16|
HDFC Bank| 24|
ICICI Bank| 16|
Punjab National Bank| 8|
Kotak Mahindra| 0|
Table 4.4

Figure 4.5
According to my sample size 72% of people prefer SBI for personal loan, but some people prefer ICICI, HDFC, Axis or OTHER Bank for loan because they are working with that bank & it is easier for them to get loan from their bank & it easier for them to pay the interest because it is less as compare to other bank because they are the employee of that bank. Q.6) which bank would you like to prefer when you want to take car loans?

Bank| No. of responses|
State Bank of India| 160|
Axis Bank| 8|
HDFC Bank| 24|
ICICI Bank| 16|
Punjab National Bank| 8|
Kotak Mahindra| 8|
Table 4. 5

Figure 4.6

According to my sample size 72% of people prefer SBI for car loan, but some people prefer ICICI, HDFC, Axis or OTHER Bank for loan because they are
working with that bank & it is easier for them to get loan from their bank & it easier for them to pay the interest because it is less as compare to other bank because they are the employee of that bank. Q.7) Which bank would you like to prefer when you want to take home loans?

Bank| No. of responses|
State Bank of India| 112|
Axis Bank| 0|
HDFC Bank| 80|
ICICI Bank| 0|
Punjab National Bank| 32|
Kotak Mahindra| 0|
Table 4. 6

Figure 4.7

According to my sample size 43% of people prefer SBI for home loan, but around 36% people prefer HDFC, and 6% people prefer ICICI Bank and 14% people prefer PNB for home loan because they are working with that bank & it is easier for them to get loan from their bank & it easier for them to pay the interest because it is less as compare to other bank because they are the employee of that bank.

Q.8) Do you think the services given by SBI is

Bank| No. of responses| Percentage|
Fair| 40| 17.86|
Good| 72| 32.14|
Very Good| 48| 21.43|
Poor| 48| 21.43|
Very Poor| 16| 7.14|
Table 4. 7

Figure 4.8

Figure 4.9

As shown in the above table 4.7 and figure 4.9, 71.43% people think the services given by SBI is fair, good and very good, whereas 28.57% people think that some improvement should be needed in the services given by SBI.

Q.9) Do you get the information regarding new plans or offers given by SBI.

Response| In figures| Percentage|
YES| 64| 28.57|
NO| 160| 71.43|
Table 4. 8

Figure 4.10

From the above data it is clear that most of the customers (around 71%) of Hyderabad have no idea about the information regarding new plans or offers given by SBI, the rest 29% have the idea about the product they are using.

Q.10) Do you know about all the benefits a customer can get in a salary account in SBI.

Response| In figures| %|
Fully explained| 24| 10.14|
Partially explained| 64| 28.57|
Not explained| 40| 17.86|
Do not know| 88| 39.29|
Table 4. 9

Figure 4.11

Figure 4.12

About the salary account benefits 40% people said that they either partially (28.57%) or fully (10.14%) know the benefits they can get from salary
account given by SBI and around same percentage of people said that they do not know anything regarding benefits they can get from salary account. The reason is it is not explained to them in the starting when they opened their account with the SBI.

* Observation,
* Conclusion
* Recommendation

Observation
As compare to the other banks the plan of SBI under the CSP is one of the best but because of less number and untrained sales executives the customer goes for other bank for their salary account. Though the Bank has issued detailed guidelines / circulars covering the various Salary packages, the awareness level at the Branches as well as customers are far from satisfactory. Under the circumstances the branches are not able to position the product vis-a-vis other bank’s products. More than 75 % of the people prefer only SBI while taking loan products (especially personal and car loans). Because of the speedy processing and perceived better customer facilities the general public mainly the high net worth individuals preferred to go to private banks. While taking survey most of the customers suggested bank that the employees behavior should be more customer oriented.

Conclusion

SBI is India’s largest and the world’s fifth largest bank, with more than 100 million customers, 17,000 branches and 31,000 ATMs in India and 40 other countries. In the rural part more than 80% people have their accounts in SBI. As per my research people 30% of people think that the employees of SBI are old minded they didn’t serve their customer in more helpful way. Also few (around 27%) customers questioned on the skills of the employee and they suggested proper training of the employees. The biggest concern is the service, every one compares SBI with its competitors like ICICI, HDFC banks etc. Recommendation:

State bank of India should comprehensively advertise about the product at strategic locations keeping in mind the image of the bank. With more and more people becoming computer literate Internet as a preferential method of placing request for a loan is becoming popular. ICICI has already provided a link at its website through which a customer can submit his request for a PL for online approval. It is of a quite strategic importance to introduce this method of sourcing of the personal loan applications under CSP also. SBI should specifically target the salary accounts of senior executives.

* The lead time of SBI is more than 4 weeks for some products like loans; this should be required to reduce to 1 week. * For the better service new offers would be require.
* The settlement of customer problems should be done faster on SBI customer care. * Before deducting or charging any monetary charge SBI must consult with customer. * A new and attractive scheme should be implemented.

* As per my study most of the existing customers (in corporate level more than 60%) of SBI are moving to other banks. Hence, they should focus on retaining old customers.

Bibliography

Text Books:-
Kotler,Keller.Marketing Management.New Delhi:Prentice Hall of India-13th edition,2009 Donald R. Cooper & Pamela S. Schindler (1999) Business Research Methods. New Delhi: Tata Mc Graw Hill

Website :-
http://www.sbi.co.in/
http://www.axisbank.com/
http://www.icicibank.com/index.html
http://www.hdfcbank.com/
http://www.kotak.com/bank/personal-banking/
http://www.pnbindia.com/
https://drive.google.com/?tab=mo&authuser=0#my-drive

(Questionnaire)

1. Name: – _____________________________________________ 2. Age(in years):-
(a) Below 30 (b) 30-35 (c) 36-40 (d) above 40 3. Sex: –
Male Female 4. Name of the organization:- _________________________________

5. In which bank the company have tie-up for the salary account of the employees (can mark more than one). State Bank of India
ICICI Bank
HDFC
Axis Bank
Kotak Mahindra
Punjab National Bank
Others _______________________________
6. Total number of employees in the organization (approx. in numbers). 25-100 101-500 501-1000 1001-5000 above 5000

7. When you think about bank, which bank comes in to your mind first? State Bank of India
ICICI Bank
HDFC
Axis Bank
Kotak Mahindra
Punjab National Bank
Others ____________________________

8. According to you which bank is best in service.
State Bank of India
ICICI Bank
HDFC
Axis Bank
Kotak Mahindra
Punjab National Bank

9. On the basis of brand image , rate these bank (in decreasing order where 5 being the best) State Bank of India 5 4 3 2 1 ICICI Bank 5 4 3 2 1 HDFC 5 4 3 2 1 Axis Bank 5 4 3 2 1 Kotak Mahindra 5 4 3 2 1 Punjab National Bank 5 4 3 2 1 10. Which bank would you like to prefer when you want to take loans?(tick the box in front of banks name with respective loan products) Banks| Personal Loan| Car Loan | Home Loan|

Axis Bank| | | |
HDFC Bank| | | |
ICICI Bank| | | |
Kotak Mahindra Bank| | | |
Punjab National Bank| | | |
State Bank of India| | | |
Others| | | |

11. Do you think the services given by SBI is
very good good fair poor very poor

12. Do you get the information regarding new plans or offers given by SBI. Yes No

13. Do you know about all the benefits a customer can get in a salary account in SBI. Fully explained Partially explained Not explained Do not know

14. Any suggestion would you like to give to SBI.
________________________________________________________________________________________________________________________________________________

Thank you…


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