ANALYSIS OF SAVING ACCOUNTS

IN AXIS BANK LIMITED AND ITS

COMPARISON WITH OTHER
BANKS [SBI AND HDFC]
AXIS BANK
LTD

SUBMITTED BY-
KUSHAMBU SINGH
MBA 2009 – 2011
ROLL NO- 0905470060

UNDER GUIDENCE OF:

Mr. Rahul saxena
Branch Sales Head Lecturer
Axis Bank Ltd. BBDNITM, lko
(SUMMER INTERNSHIP REPORT IN PARTIAL FULFILLMENT OF THE
AWARD OF FULL TIMEMASTERS IN BUSINESS ADMINISTRATION
(2009-11))

1
 TABLE OF CONTENT

Chapter –I

 Introduction
 Theoretical Representation of the Topic

Chapter –II

 Organizational profile of company

 Introduction
 Background
 Promoters
 Company & its product line
 Balance sheet
 SWOT analysis
 Board of directors
 Achievements/Awards

Chapter – III
2
Presentation of data & analysis
 Source of data
 Sample size
 Method of data collection
 Research instrument & tools used

Chapter – IV

 Findings ,conclusion & suggestion

 Annexure
 Bibliography

3
 ACKNOWLEDGEMENT

I whole heartedly acknowledge the help and support that I have received from
-------------------------, all my faculty who guided me and motivated me during the
course of internship.

I would also like to thank my industry guide Mr. RAHUL SAXENA under whose able
guidance I successfully completed my internship. I also want to give my special
thanks to Mr. -------------------------, branch manager of Axis Bank Limited. His
valuable suggestions have always been an eye-opener for me in my endeavor.
At last but not the least, I would also like to thank all my family members, my dear
friends who constantly kept on motivating me by giving me valuable suggestions.

THANK YOU

4
 .
SUMMARY/SYNOPSIS OF THE PROJECT

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

OBJECTIVE OF THE PROJECT

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

5
 CHAPTER 1

INTRODUCTION

THEORITICAL
REPRESENTATION OF
THE TOPIC

6
The topic “A DETAILED ANALYSIS OF SAVING ACCOUNT IN AXIS BANK LTD.
AND IT’S COMPARISION WITH OTHER BANKS [SBI AND HDFC BANK].” Is
basically concerned about the saving product offered by AXIS BANK. Bank
provides various kinds of saving account for different segments of people,
according to the current requirements and demand of the customers. Every saving
products is designed so well that it contains all the important features and services
according to the current scenario for the people, which obviously very easily
attracting customers to deal at least once with the ban. Apart from this, my area of
work also includes to compare these saving accounts provided by AXIS BANK with
other private banks and government banks i.e. HDFC BANK and STATE BANK OF
INDIA.

This comparison includes some common basis of differentiation through which

evalution is to be done. I have also used QUESTIONNAIRE for comparative
analysis, which has been filled by the customers just to know what they think about
the bank’s services and facilities given to them. My Questionnaire includes 12
questions and sample size is 50(x2).

7
 CHAPTER 2
ORGANIZATIONAL
PROFILE OF
THE COMPANY

INTRODUCTION
8
Banking in India originated in the last decade of the 18 th century. The
oldest bank in existence in India is the State Bank of India , a government
– owned bank that traces its origins back to June 1806 and that is the largest
commercial bank in the country. Central banking is the responsibility of the Reserve
Bank of India, which in 1935 formally took over these responsibilities from the
Imperial Bank of India, relegating it to commercial banking functions. After India’s
independence in 1947 the Reserve Bank of India was nationalized and given
broader powers. In 1969 the government nationalized the 14 largest commercial
banks, and again 6 next in 1980.

EARLY HISTORY

Banking in India originated in the last decades of the 18 th century. The first banks were
The General Bank of India which started in 1786, and The Bank of Hindustan,
both of which are now defunct. The oldest bank in existence in India is the State
Bank of India, which originated in Calcutta in JUNE 1806, which almost
immediately became the Bank of Bengal. This was one of the three presidency
bank, the other two being the Bank of Bombay and the Bank of Madras, all three
of which were established under charters from the British East

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

The three banks merged in 1925 to form the Imperial Bank of India, which upon
India’s independence, became the State Bank of India.

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

9
It was not the first though. That honour belongs to the Bank of Upper India, which
was established in 1863, and which survived until 1913, when it failed, with some of
its assets and liabilities being transferred to the Alliance Bank of Shimla

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

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

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

NATIONALISATION

10
The next significant milestone in Indian Banking happened in the late 1960s when
the Indira Gandhi government nationalized, on 19th July, 1969, 14 major
commercial Indian banks, followed by nationalization of 6 more commercial Indian
banks in 1980. The stated reason for the nationalization was more control of credit
delivery. After this, until the 1990s, the nationalized banks grew at a leisurely pace
of around 4%-also called as the Hindu growth of the Indian economy.

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

11
STRUCTURE OF THE ORGANIZED BANKING SECTOR IN INDIA.

12
BACKGROUND

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

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

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

Extension Counters (as on 31st May 2009). The Bank has a network of over 3674
ATMs (as on 31st May 2009) providing 24 hrs a day banking convenience to its
customers. This is one of the largest ATM networks in the country.

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

MISSION AND VALUES

Mission of Axis Bank

 Customer Service and Product Innovation tuned to diverse needs of

individual and corporate clientele.
 Continuous technology up gradation while maintaining human values.
13
  Progressive globalization and achieving international standards.
 Efficiency and effectiveness built on ethical practices.

Core Values of Axis Bank

 Customer Satisfaction through

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

 Maximisation of Stakeholder value

 Success through Teamwork, Integrity and People.

PROMOTERS

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

THE COMPANY AND ITS PRODUCT LINE

Axis Bank Limited (Axis Bank) offers a broad range of retail & corporate banking
products and services in India. The bank was earlier known as UTI Bank Limited.
The company offers several products including accounts, deposits, cards,
credits, advisory services, treasury, mutual funds, cash management, international
banking and transaction services. The bank operates 827 branches and extension
counters, as on 31 March 2009. Axis Bank has operations in 29 States and 3 Union

14
Territories in India. The bank has a network of 3595 ATM machines. Axis Bank is
the third largest ATM network provider in India. It also has branches in China, Hong
Kong, Singapore and UAE. The bank is headquartered at Mumbai in India.

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

Axis bank offers banking and financial services in India. The company’s services
and Brands include the following:

Services:
Personal Banking:
Accounts
Deposits
Loans
Cards
Investments
Insurance
Payments
Other Services
Corporate Banking:
Accounts
Credit
Capital Market

Treasury
Cash Management Services
Govt Business
NRI services:
15
Accounts
Deposits
Remittances

COMPETITORS OF AXIS BANK LIMITED

 Central bank of India

 Corporation bank
 HDFC bank limited
 ICICI bank limited
 State bank of India
 Union bank of India
 Bank of Baroda

AXIS BANK LIMITED

(FORMERLY UTI BANK LIMITED)

GROUP - BALANCE SHEET

CONSOLIDATED BALANCE SHEET AS ON 31 MARCH 2008

CAPITAL AND LIBILTIES

SCHEDUL AS ON AS ON
E 31-03-2008 31-03-2008

16
 NO. (RS in (RS in Thousands)
Thousands)
CAPITAL 1 3,577,097 2,816,308
RESERVE & 2 83,941,262 31,068,175
SURPLUS

EMPLOYEES STOCK
OPTION
OUTSTANDING(NET) 17(4.16) 21868 89783
DEPOSITE 3 876,193,450 587,850,227
BORROWING 4 56,240,405 51,956,030
OTHER LIABILTIES & 5 75,689,729 58,779,259
PROVISIONS

TOTAL 1,095,663,811 732,559,782

ASSETS
Cash and Balances with 6 73,056,584 46,610303
Reserve Bank of India

7 51,998,614 22,572,748

Balances with banks and

money at call and short
notice

Investments 8 338,651,008 268,871,605

ADVANCE 9 594,759,888 368,764,606

FIXED ASSET 10 9,324,663 6,778,359

OTHER ASSET 11 27,873,054 18,962,161

17
 TOTAL 1,095,663,811 732,559,782

Contingent liabilities 12 2,588,956,615 1,841,653,501

Bills for collection 17 83,233,927 62,746,332

Significant Accounting Policies and

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

For S. R. Batliboi & Co.

Chartered Accountants

MR. P. J. Nayak
Chairman & CEO

per Viren H. Mehta N. C. Singhal R. H. Patil R. B. L. Vaish

Partner Director Director Director

Membership No.: 048749

P. J. OJA DATE : 21 APRIL 2008

COMPANY SECRETARY PLACE: MUMBAI

18
SWOT ANALYSIS OF AXIS BANK LTD.

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

WEAKNESSES
 Not having good image
 Market capitilazation is very low
 Not been fully able to positon itself correctly

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

THREATS
 From different competitors

19
  Foreign banks
 Governments banks
 Future market trends

BOARD OF DIRECTORS
The members of board are :

Smt. Shikha Sharma Managing Director & CEO

Shri N.C. Singhal Director

Shri. J.R. Varma Director

Dr. R.H. Patil Director

Smt. Rama Bijapurkar Director

Shri R.B.L. Vaish Director

Shri M.V. Subbiah Director

20
 Shri Ramesh Ramanathan Director

Shri K. N. Prithviraj Director

ACHEIVEMENTS/AWARDS
8-Mar Axis Bank launches Platinum Credit Card, India's first EMV chip based
card
7-Sep Axis Bank ties up with Banque Privée Edmond de Rothschild Europe
for Wealth Management
7-Jul UTI Bank re-brands itself as Axis Bank

7-Jul UTI Bank ties up with Tata Motors Ltd. for Car Loans

7-Jun UTI Bank's expansion into Asia supported by FRS

7-Apr UTI Bank opens a Financial Services Category I Branch in the DIFC
in Dubai
7-Mar UTI Bank ties up with Hyundai Motor India Ltd. for Car Loans

7-Mar UTI Bank ties up with IIFCL to provide finance for

infrastructural projects in the country
7-Mar UTI Bank launches Car Loans in association with Maruti Udyog
Ltd
6-Aug UTI Bank becomes the first Indian Bank to successfully issue
Foreign Currency Hybrid Capital in the International Market

6-Jul UTI Bank opens Representative Office in Shanghai

6-May UTI Bank and LIC join hands to launch an Annuity Card for group
pensioners of LIC

21
6-May UTI Bank ties up with Geojit Financial Services to offer Online Trading
service to its customers
6-Apr UTI Bank opens its first international branch in Singapore

5-Dec UTI Bank wins International Financing Review (IFR) Asia 'India
Bond House' award for the year 2005
5-May UTI Bank and Bajaj Allianz join hands to distribute general
insurance products
5-Mar UTI Bank gets listed on the London Stock Exchange, raises US$
239.30 million through Global

5-Feb UTI Bank appointed by Government of Karnataka as the sole

banker for the Bangalore One (B1) project
4-Feb UTI Bank (by pursuing a proactive strategy of forging bilateral
agreements and being a progressive player in the multi-lateral
consortiums for shared ATM network) offers its customers access to
over 7000 ATMs across the country - the largest to be offered by any
3-Dec Bank inaugurated
bank in India so far.its ATM at Thegu near the Nathula Pass in
Sikkim. This ATM is at the highest altitude in India.
3-Aug The Bank's Debit Card crosses the one million mark.

3-Aug Total Advances cross Rs 7,000 Crore.

3-May Bank declares a net profit of Rs 192.18 crores for FY03, a growth
of 43% over the previous year

3-Feb Bank, in a pioneering move, launches the AT PAR Cheque

facility, free of cost, for all its Saving Bank customers.

3-Feb Bank wins mandate to set up 14 ATMs at the Western Railway

stations along the Mumbai division.

2-Aug Bank signs MoU with BSNL regarding bill collection services
across the country through both online and offline channels.

2-Mar Deposits Cross Rs.12, 000 Crore

22
2-Jan The Bank's 100th branch opens at Tuticorin,Tamilnadu

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

1-Jul Bank ties up with Govt. of Andhra Pradesh for collection of

commercial tax
Dec-00 Bank opens its 200th ATM. It becomes the 2nd largest ATM
network in the country, a position held even today.
Oct-00 Bank becomes fully networked

Apr-00 UTI Bank calls off its proposed merger with Global Trust Bank
and surges ahead on its own.
Mar-95 Completes first profitable year in operation

Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr.

Manmohan Singh, Hon'ble Finance Minister, Government of
India.
Dec-93 Registered office at Ahmedabad; Head office at Mumbai

23
 CHAPTER 3

PRESENTATION
OF
DATA AND ANALYSIS

24
 SOURCE OF DATA

 Primary source

 Secondary source

SAMPLE SIZE

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

METHOD OF DATA COLLECTION

Primary data: The data which are collected at first hand either by the
researcher or by someone else especially for the purpose of the study are known
as primary data.
Thus for the research I have collected the data from:
Questionnaire
Observation
Personal interviews
Survey

25
 Secondary data: Any data which have been gathered earlier for some other
purpose are secondary data. Most of the data in this research is primary since my
report was of exploratory type although some secondary data have been also use
through:
Websites
Accounting records
Miscellaneous reports
Internal experts

RESEARCH INSTRUMENTS AND TOOL USED:

Research instrument used for collection of information is interviews, survey &

observation. As this research is exploratory so it includes the study of subject
through the interviews, observation, & surveys. Although miscellaneous reports,
internal experts advices are also used.

26
 PRESENTATION OF DATA

ABOUT SAVING ACCOUNT

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

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

The minimum balance to be maintained in an ordinary saving bank account varies

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

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

27
Things to Consider While Opening a Saving Account

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

Penal provisions in case the balance falls below the minimum stipulated
Amount

Penalty in case of return of cheques issued or instruments

sent on collection.

Collection facilities etc. offered and charges applicable.

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

Document Required For Opening a Saving Account

28
Two passport size photograph

Proof of residence i.e. Passport / Driving license / Gas/ Telephone/

Electricity Bill / Ration card/ Voter Identity card

An introduction of the person from an existing account holder

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

SAVING PRODUCTS OF AXIS BANK

29
PRIORITY BANKING - RESIDENT

Presenting Axis Bank's Priority Banking Service. A service that would

ensure not only the highest level of priority but also preferential treatment to
customers.

BANKING PRIVILEGES TO CUSTOMERS

Priority Banking Lounge:

A Priority banking customer will have access to an exclusive 'Priority

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

Dedicated Relationship Manager:

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

30
HOME BANKING :
Experience the convenience of home banking facilities provided by Axis Bank.
Avail of free cash and cheque pick-up and delivery at your office or residence.

Exclusive Priority Banking International Debit card :

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

Other Banking Privileges :

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

Investment Privileges

Avail of assistance in financial planning. Investment advice, market

information reports, and invitations to investor meets are offered
complimentary to customers.

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

31
Gold Credit Card
As an added privilege, Priority Banking customers may also apply for a
Gold Standard Credit Card and Gold Standard Secured Credit Card
without any additional fee, subject to the applicable terms and conditions.

Priority Banking customers would also be eligible for a 50% reduction on

the Issuance Fee of Gold Plus Credit Card and Gold Plus Secured Credit
Card. Rs. 500 will be charged as the annual maintenance charge for Priority
Banking customers, subject to the applicable terms and conditions.

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

Average quarterly balance (AQB) of Rs. 1 Lakh in your saving

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

32
PRIORITY BANKING - NRI
Presenting Axis Bank's Priority Banking - NRI Services, especially for NRI
Clients. Apart from a specialized Relationship Manager to take care of banking
needs, Axis Bank provides Investment and Lifestyle Privileges as well t5o their
priority customers.

BANKING PRIVILEGES TO CUSTOMERS

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

Dedicated Relationship Manager:

customers will enjoy access to a dedicated Relationship Manager who will be one
point contact at the branch for all the banking transactions, who will be in regular
touch with the customers to take care of their Banking needs.

Exclusive Priority Banking International Debit Card:

This card allows customers free access to all Visa ATMs in India. Especially for
Priority Banking- NRI clients, this card also comes with one Free Transaction per
Quarter, at any Visa ATM across the world. The exclusive card also comes with
higher ATM transaction limits; higher Point-of-Sale transaction limits at merchant
establishments, enhanced insurance cover, Rewards Points scheme and many
other facilities.
33
A Priority Banking - NRI client, get lowered processing fees on Home Loans.
Enjoy preferential pricing on foreign exchange rates.
Axis bank offers discounted rate of 25% on annual fees for availing our locker
facilities.

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

INVESTMENT PRIVILEGES
Portfolio Investment Scheme: A Priority Banking - NRI client enjoy a 50% rebate on
the Annual Fees on opening PIS (Portfolio Investment Scheme) Accounts with the
Bank.
Avail of assistance in financial planning. Investment advice, market information
reports, and invitations to investor meets are offered complimentary to them. Check
a sample market information report. Complimentary Tax Advisory Services would
also be available.

LIFESTYLE PRIVILEGES
However, it's not all about just financial services. Axis bank’s aim to provide a
different Lifestyle experience through Lifestyle Privileges. Customers can enjoy
exclusive invitations to movie screenings, plays, music concerts and other special
events sponsored by Axis Bank from time to time.

ELIGIBILITY CRITERIA
You can sign up for Priority Banking service by agreeing to any one of the
34
following criteria:
Average quarterly balance (AQB) of Rs. 1 Lakh in your saving account
Average quarterly balance of Rs. 5 Lakhs in combination of your saving and
term deposits (Minimum AQB of Rs. 50,000 in the saving account)

PRIME SAVING ACCOUNT

Axis Bank has always strived to pace their products with the growing needs of the
customers. The Prime Saving account has therefore been created with the
customer’s specific financial requirements in mind.

35
Wider accessibility

As a Prime Saving account holder, customers enjoy access to a wide network of

over 825 branches and one of the largest ATM networks (3595 ATMs) in India
giving them easy access to their account from almost any corner of the country.

Greater convenience

To simplify daily banking, Axis bank Prime Saving account comes with an
international photo-signature Debit Card. This unique card comes with withdrawal
limit of Rs. 40,000 per day, facilitating transfer of funds, deposits of cash/cheques
and payment of insurance premium (LIC).

More comfort

Through 24 hr Internet Banking and Tele Banking services, customers can enjoy
the ease of banking from home or office. Through these comprehensive services,
they can access a range of facilities including online funds transfer, requests for a
new chequebook, Financial Advisory Services (FAS), online shopping and
information on mutual funds.

Enhanced privileges

The Prime Saving Account eases the banking experience by providing a passbook
and monthly statements of account to keep the customers updated on all their
transactions and assist them better in managing their finances.

Added speed

Through the 'At Par' cheque facility, bank provides the unique advantage to encash
the cheques as a local cheque at more than 330 centres where the bank has a
presence at no extra cost. In addition the account enables the customers to issue
cheques up to Rs. 1 lakh, which will be treated as 'At Par' across these locations.
36
The customers can avail of all these services with a minimum average balance of
Rs 25,000 in metro/urban/semi-urban centers and Rs 10,000 in rural centers.

PRIME SAVING ACCOUNT : FEATURES

 At Par Cheque Facility with an enhanced limit upto Rs. 1,00,000

 Free 6 cash withdrawal transactions per quarter at other bank ATM's

 Free monthly statement of account

 Free DD/PO (drawn on Axis Bank Centers)

 Free Passbook

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

 Increased cash deposit/withdrawal limits at non home branches

 Option of automatic movement of excess funds in the saving account to

higher earning fixed deposits

 Access through more than 671 offices & 2764 ATMs

 24*7 Telebanking, Internet banking and Mobile Banking.

*Conditions Apply

37
PRIME SAVING ACCOUNT : DOCUMENTATION

To open Prime Saving Account with Axis Bank, you just need to provide:

 An account opening form duly filled.

 2 Latest passport size colour photographs

.
 Photo proof of identity PAN card, passport, Driving License or A letter from
the Bank Manager verifying identity, signature and address along with a self
signed cheque
.
 Proof of residence like recent electricity bills or telephone bills or credit card
statements
.
 The account opening form can be collected from the branch or can be down
loaded. The duly filled account opening form along with the relevant
documents can be submitted at the branch.

SENIOR PRIVILEGE ACCOUNT

Because life begins at sixty

Axis Bank's Senior Citizen Saving Account has been designed keeping in mind the
fact that a senior citizen's banking requirements are wholly different
38
and require special consideration.

SENIOR PRIVILEGE: FEATURES

BANKING PRIVILEGES

 Dedicated Relationship Managers :AXIS BANK dedicated relationship

managers are only a phone call away. They can help the customers
with all of their banking needs. Be it a simple query or helping customers
to manage their finances.
 Free At-par Cheque book Axis Bank "Senior Privilege" Saving Account
holder will receive free "At-par" cheque book, which empowers customers
toencash their cheques as local cheques at any of the Axis Bank branch
center.

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

Customers can use their debit card to make purchases at merchant

establishment.
A unique security feature to help safeguard customers hard earned money is
the photograph and signature on the face of the debit card. This feature is not
followed by all banks.

 Free Monthly Statement of Accounts/Free Passbook: Axis Bank

privileged customer, would be entitled to a monthly statement of
account. The statement would give the detailed information on daily
transactions with the closing balances. Customers can also opt for passbook
facility, at no additional cost.
39
 Free Issuance of Pay Orders or Demand Drafts drawn on Axis Bank
Branches: Get commission-free Demand Drafts and Pay Orders from our
branches drawn on Axis Bank branch.

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

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

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

 Anywhere Banking Make transactions like cash deposits, cash withdrawal,

transfers and clearing deposits from any of the Axis bank branches, all of
which are interconnected for customers banking convenience.

 Telebanking Axis Bank Telebanking service provides instant access to the

accounts. A wide range of services such as Account Information, Balance
enquiry, Transaction Details, Status of your Cheques (Available only during
branch business hours) and Statement of Account on Fax can be availed
over the phone.

 Free Mobile Banking Mobile banking enables customers to bank with the
Axis Bank through their mobile phone irrespective of where they are. Avail

40
 the facility of balance enquiry, debit or credit alerts, last three transaction
details and cheque status

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

 Complimentary Financial Planning: Everyone has diverse needs based

on their situations, therefore requiring customized solutions. With the help of
Axis Bank’s complimentary investment planning, customers will know
exactly what to do with their money to realize their financial objectives.

 Silver Health - Medical Insurance for Senior Citizens: Entry age is 70

Years. The medical test (mandatory) is carried out Free of cost only for
Senior Privilege.

SENIOR PRIVILEGE: ELIGIBILITY

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

No penal charges will be levied for non-maintenance of Average Quarterly

Balance in the first quarter of account opening.

41
 Person should be a Indian Resident

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

years.

SMART PRIVILEGE ACCOUNT

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

Jewellery Insurance on Debit Card

Dedicated Relationship Manager:

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

Zero Balance Minor Account

42
 Round-the-Clock access through ATMs:
There could be an instance when at 3 am customers could require cash. With
bank round-the-clock access they can withdraw cash up to Rs. 40,000 per
day, deposit cash/cheques, transfer funds, print a mini statement and pay
insurance premiums (LIC), all through the bank’s ATM channel which is one
of the largest ATM networks in the country.

Anywhere Banking:

At-par cheque facility

Monthly Account Statement

Additional discounts on loans

iConnect

Financial Advisory Services :

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

Discount on Retail Purchases:

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

Smart Advantage

SMART PRIVILEGE ACCOUNT : ELIGIBILITY AND

DOCUMENTATION
43
Eligibility Criteria

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

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

Documentation Required : To open a Smart Privilege account with Axis Bank,

one just need to provide:

Latest Passport size colour photographs

Identity Proof

Voter ID Card* or Defence /Police/Govt. Dept. ID Card or Pan Card or

Driving Licence or Photo Credit Card or Passport OR

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

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

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

44
Smart Privilege Account : Zero Balance Minor Account
Imbibe the significance of regular saving in your child. The Zero Balance Minor
Saving Account is a unique feature that all account holders can open for their
children
.
Features

No maintenance charge.

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

Daily spend limit of Rs. 1000 at merchant outlets

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

At par cheque book at nominal cost.

Eligibility for a Minor Account:

Children below the age of 18 years.

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

Documents required:
Date of Birth proof of the minor
45
 Account Number and Customer ID of your account (Smart Privilege
Account)

Smart Privilege Account : Specially Designed Debit Card

The photo signature international debit card comes a host of Enhance privileges

Jewellery Insurance

Inbuilt Jewellery Insurance with card

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

Waiver of 2.5% Petro surcharge

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

Enhanced Accidental Insurance up to Rs. 3 lakhs

[To keep your personal accident insurance cover activated, you should have
made a purchase transaction in 365 days prior to the day of the incident &
should have maintained an average quarterly balance of Rs 5,000 (urban &

46
 metropolitan branches) or Rs 2,500 (rural & semi-urban branches) as the
case may be in the two quarters before the date of the incident.]*

Daily Rs 40,000
Withdrawal
Limit

Daily POS Rs 50,000

Limit

Purchase Up to 90 days from the date of purchase, goods

purchased using the Debit Card is insured against
Protection
fire, natural calamity, burglary and house-breaking.

Zero Lost Insured for risk of loss due to fraudulent use of a lost/
stolen / missing Debit Card. All you need to do is
Card Liability
communicate the loss of your Card by calling Axis
Bank’s 24-Hour Customer Service Number 1860-425-
8888 (MTNL/BSNL Lines).

* Condition Apply

Smart Privilege Account : At Par Cheque

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

Smart Privilege Account : Smart Advantage

Smart Advantage is an exclusive insurance cover specially designed for the
holders of Special Women's Account that covers woman related diseases. This
insurance protects the woman against the risk of serious illness. It gives the
47
policyholder the security of knowing that a guaranteed cash sum will be paid in
case she is diagnosed with a life-threatening illness. The insurance is available at a
nominal premium to existing Special Women's Account holders.

COVERAGE AND BENEFITS

Critical illness Benefit:

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

Congenital Disability Benefit:

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

Children Education Bonus:

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

Loss of Job as covered in the policy:

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

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

48
 SMART ADVANTAGE Premium Chart

Sum Insured (in Age (in yrs)

Rs)
21 - 25 26 - 35 36 - 40 41 - 45 46 - 50 51 – 55

50,000 276 414 759 1102 1653 2412

100,000 414 621 1137 1653 2480 3616

150,000 551 827 1516 2204 3306 4822

200,000 689 1034 1895 2755 4133 6027

(Exclusive of Service Tax)

EASYACCESS SAVING ACCOUNT

Banking made easy

49
Presenting, Axis Bank's Easy Access Saving Account. The account is an
endeavour by the Bank to understand the consumers' needs and redefine banking
to suit the requirements for a truly comfortable banking experience. Easy Access
Saving Account gives customers instant access to their money anywhere, anytime.
Possessing a range of unmatched features, it has been devised to better suit the
convenience of bank’s eclectic client base.

Customers can avail of all these services with a minimum quarterly average
balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers
and Rs. 1,000 in rural centers.

EASY ACCESS SAVING ACCOUNT : FEATURES

At Par Cheque Book

ATM Network

Anywhere Banking

Telebanking

IConnect

Mobile Banking

Account Statement

Quarterly Interest

EASY ACCESS SAVING ACCOUNT : DOCUMENTATION

To open Easy Access Saving Account with Axis Bank, you just need to
provide:
Two passport size colour photographs (latest) for each applicant
Introduction related documents:
50
 Introduction by an existing Axis Bank customer, whose account is at
least 6 months old with a suitable proof of address, or a letter from
the manager of your existing bank, verifying identity and signature, or
a copy of your passport along with a self-signed cheque, and
any one document from each of the following groups:
Group I
Voter ID Card* or Defence or Police or Govt. Dept. ID Card, or Pan Card or
Driving Licence or Photo Credit Card (*along with self-signed cheque).

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

ZERO BALANCE SAVING ACCOUNT

Save at Zero
Presenting, Axis Bank's Zero Balance Saving Account. At Axis Bank it has been
their constant endeavour to create products specifically catering to customers’
needs. The account while offering a whole range of services also addresses
customers’ latent need of having an account without the hassle of maintaining
an average quarterly balance.

FEATURES :
No Average Quarterly Balance requirement

Free International Debit Card with an Accidental Insurance cover up to Rs 2

lakhs* (charges for the primary holder are waived)

Free mobile banking facility

Access through more than 825 branches and more than 3595 ATMs
51
 At-Par cheque facility with the clearing limit of Rs 50,000

24x7 Telebanking & Internet banking

Free quarterly statements

*Conditions Apply

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

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

ZERO BALANCE SAVING ACCOUNT : DOCUMENTATIONS

An Account Opening Form duly filled

One latest passport size photograph

Initial cheque of Rs 5,500

Photo identity proof like PAN card, Passport, Driving License or Voters
card

Proof of residence like recent utility bill or bank account/credit card

statement, and-

Any two of the following documents:

 Latest Post paid mobile bill with a minimum bill payment of
Rs.1,000
 Minimum Net Salary Rs. 20,000 or other bank account statement
with minimum day end balance of Rs 25,000
 Frequent Flyer Card or Customer Loyalty Card (any of the
52
 renowned retail chain)
 Proof of owing Gold/Platinum Credit Card
 Proof of owning a house
 Proof of owning a four-wheeler
 Latest paid landline phone bill of Rs. 1,500/- or higher
 Latest Income tax return with Income tax paid of Rs. 1.5 lac and
above
 Professionals (Doctors, CA/CS/Cost Accountant, and Architect)
need to submit any one of the above document along with proof
of profession.

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

BANKING PRIVILEGES:

At-par Cheque Facility

53
One’s job involves constant transfers across the country. With the at-par cheque
facility it will no longer be necessary to set up new bank accounts with each
transfer.

Additional Debit Card

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

Financial Advisory Services

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

POWER SALUTE: PRODUCT FEATURES

1 Balance Requirement No minimum balance

2 Anywhere Banking Available across the country

3 Cheque Books Free multi-city at-par Cheque Book

54
4 International Debit cum Free, even to the joint holder Personal
ATM Card (Photo-signature Accident Insurance Cover of up to Rs 2
card) lacs per cardholder [To keep your
personal accident insurance cover
activated, you should have made a
purchase transaction in 365 days prior to
the day of the incident & should have
maintained an AQB of Rs 5,000 (urban &
metropolitan branches) or Rs 2,500 (rural
& semi-urban branches) as the case may
be in the two quarters before the date of the
incident.]* Cash withdrawal of up to Rs
40,000 daily Purchase protection and Zero
Card Liability International Accepted at
9,00,000 ATMs and 22 million merchant
establishments worldwide

5 Computerized Statements Free on a quarterly basis

Free monthly statements on e-mail
(Customer has to register for Internet
Banking)
6 Joint Account Facility Available

7 Flexi(2-in-1) Encash Available subject to terms and conditions

Deposits*

8 Demand Drafts Free Demand Drafts drawn on Axis

Bank

9 Overdraft Facility Up to 50% of net salary at Personal Loan

rates*
10 Outstation Cheques Free collection, only out-of-pocket
expenses to be recovered

11 Demat Account Available

55
12 Financial Advisory Services Free with daily electronic updates
13 Power Loans*
14 Optional Gold Debit Card
15 Credit Cards
16 Online Trading
17 Built-In Insurance (Medical Unique facility of availing Insurance option
and Burglary) scheme
18 Built-in SIP scheme
19 Priority Banking
20 Internet Banking
21 Telebanking
22 Mobile Banking
23 Nomination Facility
24 Fund transfer facility
Power Homes – Housing Loans
Personal Power – Personal Loans
Study Power – Educational Loans
Consumer Power – Consumer Loans
Power Drive – Vehicle Loans
Access to any Bank ATM
Available
Available
in built in the account available
Unique facility of availing SIP option in built
in the account available
Reduced balance criteria for availing
Priority Banking that entitles you to
exclusive banking and lifestyle privileges
Available as iConnect with enhanced
features like free bill payments (e.g.,
electricity bills) and electronic payment of
premiums (LIC- Insurance Premium) at
select centers
Free (available for 24 hours at select
centers)
Available
Available
Transfer funds from your Salary Power
account to any bank account in India free of
charge.
56
25 Cash deposits in 6 free inter-city cash deposit per quarter
other branches

26 Meal Card The best substitute for the traditional

Sodexho/Accor Meal coupons/vouchers.

27 Gift Card Prepaid, Rupee Denominated, Non
Reloadable card - Ideal for Gifting.

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

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

POWER SALUTE : ELIGIBILITY

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

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

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

Retired and Short Service Commission officers would also be eligible -

provided the accounts are opened while they are in active service.

Civilians posted at Defence establishments like training schools, canteens,

etc. on a permanent basis.
57
CORPORATE SALARY ACCOUNT
Axis Bank Corporate Salary Power Offering is designed to offer payroll solutions
through in a 24 X 7 environment.
58
BENEFIT TO EMPLOYERS
Efficient salary disbursal.

Web Upload - Transfer salaries/reimbursements directly from customers’

current account with Axis Bank to their employee's accounts using I
Connect.

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

Dedicated Relationship Manager at metro locations to understand the

financial requirements of the employees.

BENEFIT TO EMPLOYEES

No minimum balance criteria.

Unparalleled Access - Anywhere banking facility through bank’s network of

Branches, Atm and Internet banking facility.

AT Par chequebooks payable locally at all Axis Bank locations.

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

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

Depository services with free online trading accounts.

Meal Cards on a master card platform.

Employee Reimbursement accounts as a saving account variant.

59
 Preferential pricing on loan products and credit cards and other banking
products & services*.

CORPORATE SALARY ACCOUNT : ELIGIBILITY

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

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

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

Rs.24999/-

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

Power Salute - Only for Defence Establishments

RISHI SAVING ACCOUNT

Kheti Ho Khushhali Ki

Axis Bank offers a unique saving account which is easy to operate and transact
immediately. This product has been specially designed keeping in mind the unique
requirements of a farmer and true to its nature has been called the Krishi Saving
Account.

KRISHI SAVING ACCOUNT: FEATURES

60
Average Balance Requirement
This account is offered with the requirement of maintaining the half-yearly
average balance of Rs 1000 only.

International Master Debit Card

The Krishi Saving Account entitles customers to an International Master Debit
Card with which they can access their account anytime through the Axis Bank
ATM network free of cost. This card comes with:
 A cash withdrawal limit of Rs 25,000 per day
 Free Accident Insurance cover of Rs 2 lacs

Anywhere Banking

Being a Krishi account holder, customers are entitled to access wide network of
more than 700 branches and 3000 ATMs across 440 cities. They can now easily
carry out their transactions through any of the branches or ATMs.

At Par Cheque Book

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

KRISHI SAVING ACCOUNT: DOCUMENTATION

The KYC documentation required would be as under:
For the purpose of address proof and identity proof obtaining a single document
with photo identity and address (like election identity card) will suffice, provided
the address mentioned in the document is the same as the present place of
residence of the customer.
In cases where documents like Election Commission identity card is not available,
a letter from a recognized public authority or a government servant like Talati
61
/Patwari or similar revenue official may be obtained duly complying with the
following:
 The document should contain the name, photograph, residential address
and the approximate period of residence by the customer at the given
address
.
 The letter should not be more than one month old and the public official /
government servant should affix his rubber stamp and signature on the
letter.

 The letter should have a provision for further certification by the public
official / government servant wherever the address of the customer is
being changed.

Krishi Saving Account should be opened only for farmers. Hence the
customers are required to submit a document supporting his/her occupation.
This document can be any of the following:

 Certificate from the Village Administrative Officer or Patwari

 Land document

The account opening form can be collected from the branch or can be downloaded.
The duly filled account opening form along with the relevant documents can be
submitted at the branch.

62
Trust/NGO Saving Account

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

BENEFITS

Timely communication to the customer on receipt of the PPO

No delays in commencement of pension disbursals - The Bank is handling

the disbursement of Pension under a Centralised Pension Disbursement

63
 Module wherein the Pensioner records are credited centrally through its
Centralised Pension Payment Hub (CCPH) at Mumbai.

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

Timely revisions based on changes in rates of Pension or Dearness

Allowance, done centrally from the CCPH

PENSION SAVING ACCOUNT: FEATURES

Zero Balance Saving Account

Anywhere Banking - Available at all centres

Free Multi-city At Par Cheque Books

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

Personal Accident Insurance Cover of Rs. 2 lakh

Internet Banking - Available through "iConnect"

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

Mobile Banking Facility

Demat Account - Account opening charges waived

Safe Deposit Lockers - Preferential allotment

*Conditions Apply

PENSION SAVING ACCOUNT : ELIGIBILITY

64
 All employees of central government and civil ministries who are covered
under the Central Government Civil Pension Scheme operated by Central
Pension Accounting Office, Department of Expenditure and Ministry of
Finance.

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

All the employees of an establishment with workforce strength of more than

20 (including contract employees) and who have opted to be members of
the EPS 95 scheme.

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

The identity of the Pensioner is to be established through Pension Payment

Order (PPO) issued by the concerned Pension Paying Authority

PENSION SAVING ACCOUNT : PROCEDURE & OPERATION

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

For prospective Pensioner's

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

65
with the Bank need to be provided to the Pay & Accounts Office of the concerned
Central Govt. Civil Ministry/ Department or Pension Sanctioning Authorities (PSA's)
in case of Defence Units prior to retirement.

For existing Pensioner's

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

66
AZAADI - NO FRILLS ACCOUNT

Basic banking with zero balance

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

YOU QUALIFY FOR AZAADI IF

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

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

any given instant, and

You are unable to furnish full documentation as required ordinarily for

fulfilling of account opening norms

PRODUCT FEATURES

Zero Balance Saving Account: No need to maintain a fixed, mandatory

amount in yours account.

67
 Instant Welcome Kit: Handed over to you at the time of account opening, the
kit will consist of your account number, debit card, debit card PIN, internet
banking PIN and phone banking PIN numbers.

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

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

68
 DATA ANALYSIS
COMPARATIVE ANALYSIS OF SAVING PRODUCTS

BASIS OF DIFFERENCE
AXIS HDFC SBI
BANK BANK

WELCOME KIT Compuls Compulsor On demand

ory issue y issue

MINIMUM BALANCE Rs. 5000 Rs. 5000 Rs. 1000

PASS BOOK

a) ISSUE OF On On demand Compulsory

PASSBOOK demand issue

b) PASSBOOK No No No charges

CHARGES Charges Charges

c) IF DUPLICATE No Rs. 120 Rs. 75

charges

d) E STATEMENTS   X

69
CHEQUE BOOK

a) ISSUE OF LOCAL X X

CHEQUE BOOK

Rs. 20
b) NO. OF FREE LEAF X X

Rs. 2 per leaf

c) CHARGES X X

CHEQUE BOOK AT PAR

a) ISSUE OF CHEQUE BOOK AT

PAR
  

b) NO. OF FREE LEAF 20per 100 per f.y X

quarter

c) CHARGES
Rs.10 P/Leaf Rs. 10 P/Leaf
Rs. 5 Per Leaf

Rs. 30
d) CHEQUE RETURN CHARGES Rs. 350 Rs. 250

70
DEPOSITS/WITHDRAWL CHARGES

1) For home branch

a) CASH DEPOSIT CHARGES X X

X
X X
b) CASH WITHDRAWL X

CHARGES

Rs. 100 Rs.100 Rs. 25

2) For other branch
p/transactio p/transactio per
a) CASH DEPOSIT CHARGES n. n transact
ion

X
b) CASH Rs.100 Rs. 25
WITHDRAWAL p/transactio per
CHARGES n transact
ion
Rs. 100
Rs. 30 Rs. 20
p/transactio
c) CHEQUE DEPOSIT CHARGES
n p/transactio per
n transact
ion

SERVICES
CHARGES

Rs. 107 p/a Rs. 260 p/a Rs. 50 p/a

a) ATM/DEBIT CARD

b) NET BANKING Free Free Free

71
c) SMS BANKING Rs.150/-per Rs. 4.5 p/sms Rs. 3 per/sms
annum

d) TELE BANKING
  X
X
If more than
Above 1 lakh Above 1 lakh 20 staff
members in
e) DOOR TO DOOR BANKING the branch.

ADDITIONAL
INFORMATION

a) NO. OF BRANCHES < 838 < 2000 11,580

b) NO. OF ATM 3674 5000 15000

72
MY ANALYSIS FROM THE QUESTIONNAIRE CAN BE SUMMED
UP AS FOLLOWS:

Total number of customers who filled the questionnaire is 100.

34 of them belongs to SBI, 34 OF Axis bank and rest of 32 customers from
HDFC bank.

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

PREFER TO DEAL
40%

35% 36%
30% 31%
25%

20% 22% DEALING

15%

10%

5%
4% 4% 3%
0%
bank of standard a bank axis bank hdfc bank sbi
baroda charted

Among the total customers, 36% customers are in favor of SBI. These customers
prefer to deal with SBI, the reason being it is a public bank and it is located in
every nook and corner of the city.

The second preference of the customers is Axis bank, 31% customers favor this
73
bank for banking activity. Thus, giving tough competition to SBI. 22% customers
are in favor of HDFC Bank. Bank of Baroda, Standard chartered and Karnataka
bank are also preferred by some customers.

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

Preference in terms Saving Bank Accuont

40%

35% 34%
30%
30%
25%
25%

20%
Saving Bank Accuont
15%

10%

5% 4% 3%
2% 2%
0%
I I
an
k B FC IC SB rte
d nk
B BO HD IC a Ba
xis Ch ad
A rd hab
nda lla
a A
St

Among the total customers, 34% customers are in favour of SBI. The
customers prefer this bank because its charges are less than the other banks.
30% customers prefer Axis bank due to the efficient level of services provided
by this bank which attracts customers.25% customers are totally loyal to the
HDFC bank. BOB, Standard Chartered,
ICICI and Allahabad bank are also preferred by some customers.

74
 3) What are the services you use of bank, in saving account ?

Preference of use of service in saving A/C

50%
45%
40% 45%
35%
30% 32%
25%
20%
15% service in saving accuont
10%
5% 10% 8%
0% 4%
1%
ar
d in
g ar in
g
ik n
g er
tc nk tp nk ag
i a a a an an
eb et
B
oo
k b b m
/D n b bile tep ip
TM ter u e o r s
n sh
A In eq m o o
ch do lati
r e

ATM/debit card is most preferred by the customers.45% customers are in favour of

this service. Thus, ATM maintenance charges should be kept optimum and cash
withdrawal/deposits also be made more convenient to the customers. The second
preference of the customers is cheque book at par.32% customers prefer to use
this service provided by the bank in saving account. The next preference is internet
banking. Thus more and more facilities and services should be inculcate by the
bank in internet banking for making it more attractive to the customers.8%
customers use mobile banking.
Relationship manager and door step banking are also preferred by few customers.

75
4) Which bank as per your experience provides the best customer service when
you personally visit the bank?

Providing Best Customer Service

35%
32%
30%
30% 28%

25%

20%
Best Customer Service
15%

10%
6%
5%
2% 2%
0%
Axis bank HDFC SBI BOB Karnataka ICICI
bank

Majority of customers agreed that Axis bank provides the best customer services
when they personally visit the bank. Thus, 32% customers are in favour of Axis
bank and the second preference is SBI, close competitor of Axis bank in this case
because 30% customers said that SBI provides the best customer services when
they personally visit the bank. The third and giving close competitor to SBI is HDFC
Bank. 28% customers feel like this bank provides best customer services. 6%
customers are in favour of ICICI
bank. BOB and Karnataka bank are also preferred by some customers.

76
 5) What average balance account services you usually avail from your existing
bank?

Average balance account service

45% 42%
40%
35%
30%
25% 22%
20%
20%
14%
15%
10% Average balance account service
5% 2%
0%
00 00 00 00 00
o 10 . 50 1 00 2 50 0 00
lt Rs Rs
.
Rs
.
s.
1
q ua an n n R
e h ha ha an
or st st st th
n les s s s
a o le le es
erth a lt l to or o rl
t u ua o
ea Eq lt to
gr Eq q ua ual
E Eq

 Equal to or less than 5000 ---- 42%

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

77
6) Which bank’s ATM you use the most, for cash withdrawal?

Using ATM
40%
36%
35%

30%
26%
25%
22%

20% ATM

15%

10%
6%
5% 4% 4%
2%

0%
Axis Bank HDFC SBI BOB Standard ICICI PNB
charted

Among the total no. of customers, 36% customers said that they use Axis bank’s
ATM the most for cash withdrawal because its location covers almost all the areas
of the city. The next preference is HDFC Bank and 26% customers said that they
use HDFC bank’s ATM because they are convenient with it. The third preference is
SBI and 22% people are in favour of this bank. The reason being it is a public bank.
6% are totally loyal to their existing ICICI bank. PNB, BOB and Standard chartered
are also preferred by some customers.

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

78
 Using Net Banking Services
45%
41%
40%
35%
30%
25%
20% 19%

15% 14% Net Banking Services

12%
10% 7% 7%
5%
0%
k nk ts t t t
an en es en en
b r ba m q u
ym em
e
he y re pa ag
sa
m
ot pa k
er n
r r Bi
ll
boo rd M
a
sfe ns
fe e o io
an a qu ay ol
Tr Tr ch
e /p r tf
nd nd DD Po
Fu fu

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

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

79
 Customer Friendly bank,in terms of charges
40%

35% 34%

30%
30%
26%
25%
Customer Friendly bank,in
20% terms of charges

15%

10%

5% 4%
3% 3%

0%
Axis Bank HDFC SBI BOB Karnataka ICICI
bank

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

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

80
 Information of Bank charges

YES
46% NO

54%

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

10) If you have to do an investment, which bank would you consult for portfolio
management?
81
 Consult for Portfolio Management
40%
36%
35%

30%

25%
22%
20% Portfolio Management
20%

15%
10%
10%
7%
5%
5%

0%
Axis Bank HDFC SBI BOB ICICI Allahabad
bank

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

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

82
 Zero balance account facility
60%
55%

50%

40%

30% Zero balance account facility

23%
20%

10%
10%
4% 4% 4%

0%
Axis bank HDFC SBI BOB Standard ICICI
charted

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

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

83
 Rating of banks on the basis of ambience &
infrastructure
45%
42%
40%

35%

30%
Rating of banks on the basis of
ambience & infrastructure
25% 23%

20%
16%
15% 13%

10%
7%
5%

0%
Axis bank HDFC SBI ICICI PNB

42% people said that AXIS BANK is the best

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

84
 CHAPTER 4
FINDINGS, CONCLUSIONS
AND
SUGGESTIONS

FINDINGS

85
  People prefer to deal with SBI the most than other banks, the reason being
it is a public bank and it is located in every nook and corner of the city.

 According to analysis that majority of people are in favour of public banks in

terms of charges, the reason is their blind faith upon these banks regarding
charges.

 According to analysis, majority of people agreed that only public banks

provide the zero balance account facility to low income level group of
customers and in private banks one has to maintain an average quarterly
balance.

 Majority of customers use net banking only for making bill payments. Thus,
they do not avail other services offered in net banking.

 Most of the customers believe, Private Banks provide better customer

services than public banks just to attract more and more customers.

 Public banks do mass banking and private banks do class banking.

CONCLUSION

The topic “ A DETAILED ANALYSIS OF SAVING ACCOUNT IN AXIS BANK

86
LTD. AND ITS COMPARISON WITH OTHER BANKS [ SBI AND HDFC ]” is
basically concerned about the saving products offered by AXIS BANK. I have gone
through these entire saving product, their features and services during my
research. I have also compared these saving products of Axis Banks with HDFC
Bank AND STATE BANK OF INDIA. This comparison includes some common
basis of differentiation through which evaluation has been done. I have also used a
QUESTIONNAIRE for comparative analysis, which has been filled by the
customers just to know what they think about the bank’s services and facilities
given to them. I have found very interesting results from the research.

SUGGESTIONS

 The most important threat which appears in Axis Bank Lucknow are the
competitors in which the major competitor is State Bank of India, having
many branches in lucknow itself and that’s why it is more convenient for the
87
 people to approach that bank. Thus Axis Bank should expand the number of
branches.

 In terms of charges also, majority of customers are in favour of SBI. Thus

Axis Bank should adopt flexible approach in charges and the charges should
be charged according to the customers’ income, competition and other
factors so that they do not loose any genuine customer due to these unfair
charges.

 According to my analysis, majority of customers said that they use AXIS

BANK’S ATM the most for cash withdrawal because its location covers
almost all the areas of the city. Thus, Axis bank can use this feature as a
major tool for advertising and promotion purposes.

 Providing best customer service is also one of the advantages for the bank
which can be used for promotion purposes so that more and more people
attracts towards the bank.

ANNEXURES
QUESTIONNAIRE
NAME:………………………………………
AGE:………………………………………...
OCCUPATION:……………………………
1. If given an option, which bank will you prefer to deal with as a customer?

88
a) Axis Bank Ltd. b) HDFC Bank
c) SBI d) Other_____
2. In terms of Saving bank account opening, which bank would you prefer?
a) Axis Bank Ltd. b) HDFC Bank
c) SBI d) Other_____
3. What are the services you use of a bank, in Saving account?
a) ATM/Debit Card b) Internet Banking
c) Cheque book at par d) Mobile banking
e) Door step banking f) Relationship manager
4. Which Bank as per your experience provides the best customer service when
you personally visit the Bank?
a) Axis Bank Ltd. b) HDFC Bank
c) SBI d) Other_____
5. What average balance account services you usually avail from your existing
bank?
a) < = Rs. 1000 b) = > Rs. 5000
c) = > Rs.10000 d) = > Rs. 25000
e) = > Rs. 100000

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

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

89
9. Are all the Bank charges informed to you at the time of Saving Bank Account
opening.
a) Yes b) No
10. If you have to do an investment, which Bank would you consult for Portfolio
Management?
a) Axis Bank Ltd. b) HDFC Bank
c) SBI d) Other_____
11. According to you Which Bank provides, zero balance account facility to low
income level group of customers? [annual earning < Rs. 50000]
a) Axis Bank Ltd. b) HDFC Bank
c) SBI d) Other_____

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

BIBLIOGRAPHY

BOOKS:
i.) Kothari, C.R. : Research Methodology methods and techniques, (second revised
edition),New Delhi, new age international (P) Limited publishers, 2008.

ii.) Khan, M.Y. : Financial services, (Third Edition)

90
iii). Beri, G.C. : Marketing research, (Fourth Edition), New Delhi, Tata McGraw-
Hill Publishing Company Limited, 2008.

WEBSITES:

i. www.axisbank.com

ii. www.google.com, Axis Bank: Explore Axis Bank’s Profile

iii. www.wikipedia.com, Axis Bank – Wikipedia the free encyclopaedia

91