Final Report Prime Bank

DECLARATION
I, JIGNESH VEGADA, DO hereby declare that the project Customer perception and attitude study at PRIME co-operative bank limited fixed deposit scheme among banks customers submitted in partial fulfillment of the award of the Master Of Business Administration Degree of the VEER NARMAD SOUTH GUJRAT UNIVERSITY has been carried out by me under the guidance and supervision of M/s. JANKI MISTRY, faculty of MBA Department, DEPARTMENT OF BUSINESS AND INDUSTRIAL
MANGEMENT.
DATE:
JIGNESH VEGADA
PRIME Co-operative Bank Ltd
ACKNOWLEDGMENT
I would like to take this opportunity and express our gratitude and thanks to all the supporters, who helped and guided us during the completion of our project work. I would also like to express our sincere thanks to our faculty Ms. JANKI MISTRY for exposing us to such kind of field experience and supporting and guiding us during the project work. I am also thankful to PRIME Co-operative bank ltd at Surat for providing the required support and giving us permission for our work in their bank. I am also thankful those people who give their precious time for filling the questionnaire. And at last, I would like to thank all who have directly or indirectly help us to develop our project and that respondence that provide us their kind responses.
-JIGNESH VEGADA
CONTENTS
Title. Page No. Chapter 1.... 09 Introduction Chapter 2.12 Industry Profile Chapter 3.........18 Company Profile Chapter 4.........34 4.1 Research Methodology.......35 4.2 Research problem statement ..35 4.3 Objectives of the Study .....35 4.4 Variable of the study .....36 4.5 Formulation of Hypothesis.36 4.6 Research Design ....37 4.7 Limitations of the study.....38 4.8 Need and Scope .....38 4.9 Data analysis plan ..38 Chapter 5.39 5.1 Review of Literature Chapter 6.41 6.1 Analysis and Interpretation Chapter 7.61 7.1 Findings ..62 7.2 Suggestions .63 7.3 Conclusion ..64 Bibliography...65 Annexure67
LIST OF TABLES
Table no 1. 2. 3. 4. 5. 6. 7. Title Pg no
Table showing gender ratio using fixed deposit service of prime co-operative bank ltd Table showing income wise customer using fixed deposit service of prime co-operative bank ltd Table showing occupational wise customer using fixed deposit service of prime co-operative bank ltd Table showing awareness about fixed deposit service Table shows prime bank customers who are investing money in other bank. Table shows prime bank customers who are investing money in other bank. The table shows chi-square test relationship between customer income and customer investing money in other bank. The table shows cross tabulation between customer incomes and for different time period customer investing money in fd scheme. The table shows cross tabulation between customer occupation and a customer think fd is better option of investment. The table shows chi-square test relationship between customer income and security of money. The table shows chi-square test relationship between customer occupation and prime bank support and service. The table shows chi-square test relationship between customer incomes and for future family support. The table shows cross tabulation between customer occupation and trust on bank. The table shows cross tabulation between customer income and easy reception of money after maturity. The table shows frequency distribution fixed deposit scheme on an overall basis
42 43 44 45 46 47 48
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LIST OF CHARTS
Table no 1. 2. 3. 4. 5. 6. 7. Title Pg no
Chart showing gender ratio using fixed deposit service of prime co-operative bank ltd Chart showing income wise customer using fixed deposit service of prime co-operative bank ltd Chart showing occupational wise customer using fixed deposit service of prime co-operative bank ltd Chart showing awareness about fixed deposit service Chart shows prime bank customers who are investing money in other bank. Chart shows prime bank customers who are investing money in other bank. Chart shows chi-square test relationship between customer income and customer investing money in other bank. Chart shows cross tabulation between customer incomes and for different
42 43 44 45 46 47 49
8. 9.
time period customer investing money in fd scheme. Chart shows cross tabulation between customer occupation and a customer think fd is better option of investment.
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51
10.
Chart shows chi-square test relationship between customer income and security of money. Chart shows chi-square test relationship between customer occupation and 53
11. 12.
prime bank support and service. Chart shows chi-square test relationship between customer incomes and for future family support. Chart shows cross tabulation between customer occupation and trust on
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57
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bank. Chart shows cross tabulation between customer income and easy reception of money after maturity. Chart shows frequency distribution fixed deposit scheme on an overall basis
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14. 15.
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SUMMARY
EXECUTIVE SUMMARY
The SIP titled To study the Customer Perceptions study at PRIME cooperative bank ltd fixed deposit scheme among banks customers banking Services among the Customers in SURAT. The main objective of the study was to know how the customers of PRIME co-operative bank ltd fixed deposit scheme Services in Surat City and also to identify the factors affecting the preferences of the customers. The sampling technique used for this study was simple random sampling and the sample size was 100. The tool which I used to analysis the data was simple average method and the datas where put in tabular form as well as in chart form also. And I have also used chi-square test in my study. As a result of this survey I was able to conclude that the customer was satisfied with fixed deposit scheme provided by PRIME co-operative bank ltd. And the factors like customer service, technical factors affected the preference of consumers in choosing PRIME co-operative bank ltd
CHAPTER -1 INTRODUCTION
1.1
INTRODUCTION TO THE STUDY
CUSTOMER
A customer is someone who makes use of the paid products of an individual or organization. This is typically through purchasing or renting goods or services. The word historically derives from custom, meaning habit; a customer was someone who frequented a particular shop, who made it a habit to purchase goods of the sort the shop sold their rather than elsewhere, and with whom the shopkeeper had to maintain a relationship to keep his or her custom, meaning expected purchases in the future. The shopkeeper remembered the sizes and preferences of his or her customers, for example. The word did not refer to those who purchased things at a fair or bazaar, or from a street vendor.
CUSTOMER SATISFACTION
Customer satisfaction is a business term which is used to capture the idea of measuring how satisfied an enterprises customers are with the organizations efforts in a market place.
Every organization has customers of some kind. The organization provides products (goods and/or services) of some kind to its customers through the mechanism of a marketplace. The products that organization provides are subject to competition whether by similar products or by substitution products. The reason an organization is interested in the satisfaction of its customers is because customers purchase the organizations products. Te organization is interested in retaining its existing customers and increasing the number of its customers.
Customer satisfaction is an ambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person. The state of satisfaction depends on a number of both psychological and physical variables.
The level of satisfaction can also vary depending on other options the customer may have and other products against which the customer can compare the organizations products.
The usual measures of customer satisfaction involve a survey instrument with a set of statements. The customer is asked to evaluate each statement and then select from a scale how the customer agrees or disagrees with statement.
GENERAL MODEL: A general model of the buyer decision process consists of the following steps: Want recognition; Search of information on products that could satisfy the needs of the buyer; Alternative selection: Decision-making on buying the product; Post-purchase behavior.
Customer satisfaction measurement program:

Customer satisfaction research is not an end unto itself. The purpose, of course, in measuring customer satisfaction is to see where a company stands in this regard in the eyes of its customers, thereby enabling service and product improvements which will lead to higher satisfaction levels. The research is just one component in the quest to improve customer satisfaction.
Customer satisfaction and consumer behavior are very closely related. Consumer behavior is lightly different from customer satisfaction. Consumer Behavior is the study of how people buy, what they buy, when the buy and why they buy. It is a sub category of marketing that blends elements from psychology, sociology, socio psychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups, it studies characteristics of individual consumers such as demographics, psychographics, and behavioral variables in an attempt to understand peoples wants, it also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general, today the customer satisfaction is also termed as customer delight; rather than satisfaction present day marketers try to make the customers
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delight. Indian business is facing a variety of newer challenges. The economy requires a different set of marketing responses, a major business response is to sustain freshness in marketing and, to locate business response is to sustain freshness in marketing and, to locate better approaches for delighting customers, the name of the current marketing game is to sharply focus on customer satisfaction and retaining the satisfied customer for life. The idea of delighting customers may sound simple. However, it demands extreme concentration and creativity in making it happen, it requires an organizational approach. Thus, the route to customer delight is most enduring when the entire organization is structured and geared for it under the challenge leadership of marketing. The marketers need an array of marketing skills, concepts and frame works for ensuring customer delight.
Models of consumer behavior:

One of the best known of the explanatory models that have been developed to explain the interactions involved is that of Howard and Sheth. This contains a deal of common sense, although, as is often the case with such models, the rather obscure terminology makes it appear more confusing than it really is. The inputs (stimuli) that the consumer receives from his or her environments are 1. Significative the real (physical) aspects of the product or service (which the consumer will make use of) 2. Symbolic the ideas or images attached by the supplier (for example by advertising) Howard and Seth group these into two areas:1. Perceptual those concerned with obtaining and handling information about the product or service, 2. Learning the processes of learning that lead to the decision itself
Such models can help theorists to explain consumer behavior better, but it can be difficult to put them to practical use.
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CHAPTER -2 INDUSTRY PROFILE
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INDUSTRY PROFILE
Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as "The Bank of Bengal" in Calcutta in June 1806. A couple of decades later, foreign banks like Credit Lyonnais started their Calcutta operations in the 1850s. At that point of time, Calcutta was the most active trading port, mainly due to the trade of the British Empire, and due to which banking activity took roots there and prospered. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865.
By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were founded under private ownership. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers.
Nationalization By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. At the same time, it has emerged as a large employer, and a debate has ensued about the possibility to nationalize the banking industry. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalization." The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalized the 14 largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquit ion and Transfer of Undertaking) Bill, and it received the presidential approval on 9th August, 1969.
A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit
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delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking business of India.
After this, until the 1990s, the nationalized banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.
Liberalization In the early 1990s the then Narasimha Rao government embarked on a policy of liberalization and gave licences to a small number of private banks, which came to be known as New Generation tech-savvy banks, which included banks such as UTI Bank (now renamed as Axis Bank) (the first of such new generation banks to be set up), ICICI Bank and HDFC Bank. This move, along with the rapid growth in the economy of India, kick started the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks.
The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%, at present it has gone up to 49% with some restrictions.
The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India. People not just demanded more from their banks but also received more.
Current Situation Currently (2007), banking in India is generally 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. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the
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Indian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true.
With the growth in the Indian economy expected to be strong for quite some timeespecially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&as, takeovers, and asset sales.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them.
Meaning (definition) of Bank:

It is generally said that the word "BANK" has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. To meet the war expenses, the government of that period a forced subscribed loan on citizens of the country at the interest of 5% per annum. Such loans were known as 'Compare', 'minto' etc. The most common name was "Monte'. In Germany the word 'Monte was named as 'Bank' or 'Banke'. According to some writers, the word 'Bank' has been derived from the word bank.
It is also said that the word 'bank' has been derived from the word 'Banco' which means a banch. The Jews money lenders in Italy used to transact their business sitting on banches at different market places. When any of them used to fail to meet his obligations, his 'Banco' or banch or banch would be broken by the angry creditors. The word 'Bankrupt' seems to be originated from broken Banco. Since, the banking system has been originated from money leading business; it is rightly argued that the word 'Bank' has been originated from the word "Banco'.
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Present Situation
In the present situation, banking in India has attained fair amount of maturity 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. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies in its region.
India has 88 scheduled commercial banks (SCBs) - 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively.
According to researches carried out by the Reserve Bank of India (RBI), on an all India basis, 59 per cent of the adult population in the country has bank accounts and 41 per cent dont. In rural areas, the coverage of banks is 39 per cent, against 60 per cent in urban areas. There is only one bank for a population of13000.
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BANKING SYSTEM IN INDIA Apex Banking Institution RBI
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CHAPTER -3 COMPANY PROFILE
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COMPANY PROFILE:
PRIME BANK
Prime is a name of the bank where the bank is ready to serve its banking services to all customers under the slogan of YOUR BANK FOR YOU
Prime co-operative bank ltd was promoted by an experienced and visionary entrepreneur named Mr. GOKUL BAKSHI, he is the Founder Chair person of the bank and continues to supervise its growth and development.
The Bank started off with exemplary combination of talented Board & potential staff team, stuffed with extreme professionalism and well designed contours of working method. The bank started as a paperless unit employing tele-banking, remote banking, off-time banking, Sunday banking, holiday banking and many more allied methodologies from the very beginning right from the D-day.
Your Bank for You

Prime Co-operative Bank Ltd. known as a Fully Equipped High Tech Banking Super Market in South Gujarat Area. Our slogan is Your BANK FOR You. There are so many products & services we have launched first in South Gujarat Area. Therefore, we are trendsetter to others for our unique, extraordinary, high tech, speedy services & products.
Achievements
BEST PERFORMING CO.OP. BANK AWARD RECEIVED FOR SECURING 3RD RANK IN GUJARAT AND 6TH RANK IN INDIA BASED ON LAST THREE YEARS FINANCIAL PERFORMANCE.
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PRIME BANK PROFILE

Prime is a name of the bank where the bank is ready to serve its banking services to all customers under the slogan of YOUR BANK FOR YOU
The bank is governed by the Gujarat co-operative societies act, a legislation enacted by the state of Gujarat in India.
Prime co-operative bank ltd was promoted by an experienced and visionary entrepreneur named Mr. GOKUL BAKSHI, he is the Founder Chair person of the bank and continues to supervise its growth and development.
The Bank started off with exemplary combination of talented Board & potential staff team, stuffed with extreme professionalism and well designed contours of working method. The bank started as a paperless unit employing tele-banking, remote banking, off-time banking, Sunday banking, holiday banking and many more allied methodologies from the very beginning right from the D-day.
The bank emerged as an exemplary unit offering a wide range of specialized services in various sectors. Unlike majority of the banks where working timings are linked with employee-convenience. PRIME BANK decided to hold timings as per convenience of the cluster of clients whom it caters.
In the line with the same philosophy some of our branches in the residential area work all the seven days of the week, without a break. They work on Sundays w/o any alternative drop during the week. Likewise to focus special attention on the senior citizens the bank offers to credit monthly interest in their account with any bank before 5th day of every month.
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PRIME BANK HISTORY

Landmark achievements in its growth are: Year 1994 Achievements Bank was incorporated under the chairmanship of Mr. Gokul Bakshi. Bank commenced business from a rented location. Retail banking was the initial activity of the bank. Focus of strategy was stability, market penetration, resources build up and steady growth. 1995 Product development strategy initiated. Bank started financing small scale industries as recommended by RBI from Goiporia Committee and Narsimha committee. 1996 Customer is a king approach initiated concept of information technology were used like TELE Banking/Remote Banking with the advent of computerized operations. Off time banking concept were introduced i.e. evening 6:00 p.m. to 8:00 p.m. were provided for banks retail customer to reduce their Cash risk and continue as on date. 1997 Branch Expansion Strategy initiated and bank started its first branch Bhulka Bhavan Branch at Adajan in August 1997 within the very next month i.e. Sept.97 bank had started another Branch at Katargam GIDC. 1998 Branch Expansion had continued during the year and 3rd branch was opened in June 98 at M.G.Road, 4th branch was opened in oct-98 at new sardar market & 5th branch was opened in Dec-98 at bhatar char rasta. 1999 Bank has taken permission from RBI to accept the NRI deposits. Introducing smart cash a smart alternative of cash named as prime purse. It is useful at 143 places in the entire Surat area and response encouraging received from valuable class of people of Surat. 2000 Bank started with opening of a new millennium branch at navsari (millennium branch in feb.2000 first bank in south Gujarat to open its out city branch. Bank has opened another outstation branch at Bharuch in sep-2000, starting to open D-MAT a/c in November 2000 2004 Prime Completed its 10th anniversary, and introduced schemes like Prime Sarasvatee, Prime Health Card and Prime Citizen for its valued customers 2005 Prime joined its hands with Worlds Number 5 raked Insurance Provider named PRIME Co-operative Bank Ltd
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AVIVA Insurance, providing Life Insurance and with IFFCO-TOKIO for providing Marine Insurance and General Insurance to its customers. 2006 Introduced Schemes like Loan for Gold in partnership with ICICI Bank. Also opened a Bill Collection Centre at its Bharuch Branch for collecting Gas Bills of Gujarat Gas Co. Ltd. To make payment system qicker RBI has launched RTGS scheme for scheduled bank, Prime has joined hands with Kalupur Commercial Bank to help its customers to have the advantages of RTGS. Prime has done a remarkable job as Baroda District Industrial Co-operative Banks merger with Prime Co-operative Bank, placing its management on its 7 branches, which has increased area of its working up to Chotta Udaipur in Gujarat just 72 km away from the MP border. Prime started the process of Franking on 21st Nov. at Surat & Baroda, where customers can bring in their blank papers and convert them to a stamp paper without paying additional fees.
2007
Prime has done a remarkable job as Adajan Nagrik Co-Op. Bank's merger with Prime Co-operative Bank, placing its management on it, which has increased area of its working in Surat city. Prime Bank has started business of Mutual Funds on a referral basis. Bank has tied with Principal PNB Mutual Fund, UTI, Benchmark, ICICI Prudential, Reliance, SBI, Lotus, Birla, Kotak, Sundaram ETC.
2008
Prime Bank has received Category-2 License to carry out Foreign Exchange Business Prime Bank had done Hat trick in Merger of weak Banks."
-In June 2006 Vadodara 50 year old bank with its 7 branches, 'Baroda Industrial Co-Op. Bank.'
-In June 2007 Surat's 'Adajan Nagrik Co-Op. Bank' and
-In June 2008 Nadiad's 38 year old bank with its 3 branches 'United Mercantile Co-Op. Bank.
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2009
Tie-up with Paul Merchants for foreign inward remittance facility through Western Union Money Transfer. Two branches opened on 1-06-2009 one at Bodeli dist. Bodeli and another one at Vyara Dist. Tapi. Fourth merger taken place on 22-09-09. Sanand Urban Co-op. Bank Ltd., Sanand taken into merger.
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BALANCE SHEET
BALANCE SHEET AS AT 31st MARCH 2011.
3/31/2010
CAPITAL AND LIABILITIES
Annex. (unaudited)
76,649,600.00 1,370,779,.60
SHARE CAPITAL RESERVE FUND OTHER FUNDS DEPOSIT BORROWINGS Against FD BILLS BILLS FOR COLLECTION BEING
1 2 3
97,899,600.00 285,818,825.91 5,005,926,763.11 11,514.00
5,466,301.44 7,986,694.00 86,016,986.30 34,027,774.10
RECEIVABLE (as per contra) INTEREST PAYABLE Overdue Interest Reserve BRANCH ADJUSTMENT OTHER LIABILITES Profit & Loss Account 5 6
14,989,846.92 9,556,474.00 57,995,911.66 4,603.33 68,425,704.38 29,692,925.43
211,518,135.44
5,911,,712,038.99
PROPERTY & ASSETS
75,335,419381 236,050,983.53
CASH IN HAND BALANCE WITH BANKS 7 8 9 10
110,717,920.81 221,261,432.08 2,711,926,661.81 2,551,490,795.03 115,699,781.66
2,191,684,814.76 INVESTMENT 2,085,007,060.71 ADVANCES 122,211,653.30 INTEREST RECEIVABLES BILL RECEIVABLES BEING 5,466,301.44 31,756,919.48 BILL FOR COLLECTION (as per contra) FIXED ASSETS INCLUDING LEASED
14,989,846.92 37,715,475.51
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ASSETS (DEPRECIATED VALUE) 78,540,581.53 17,724,000.00 37,281,250.00 4,881,058,984.56 CONTINGENT LIABILITY 2,920,870.00 Guarantee issued 5,567,130.00 OTHER ASSETS Loss of Merged Banks BRANCH ADJUSTMENT Other Investments 37,281,250.00 5,911,712,038.99 11 102,230,893.17 8,398,000.00
Fixed Deposit Meaning:
In deposit terminology, the term Fixed Deposit refers to a savings account or certificate of deposit that pays a fixed rate of interest until a given maturity date. Funds placed in a Fixed Deposit usually cannot be withdrawn prior to maturity or they can perhaps only be withdrawn with advanced notice and/or by having a penalty assessed. Fixed Deposit Scheme: Prime FD Interest : We are pleased to inform you that with effect from 16th August
2010, rate of interest on fixed deposits will be changed as under Period 7 30 days (minimum Rs.15 Lacs) 31 180 days 181 365 days Above 1-3 years Above 3 years Rate of Interest 6.50% 6.50% 7.00% 8.00% 7.50%
Prime Advantage : Deposit of Rs.15.00 Lacs & above & get 0.50% extra Interest.
Prime Time
: It is auto renewal fixed deposit scheme. Which can renew at every 30
days automatically at 6.50% rate of interest? Effective yield will be 6.61% (Limit for TDS Rs.151, 200/-)
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Prime Citizen
: 1% extra interest on Deposit or Recurring Account of Senior Citizen
of 60 Year & more. Get your interest of fixed deposit monthly, quarterly, Half Year or Yearly to your Savings Account (If in other bank also) facility. Prime Gem yearly. Prime Gold : A cumulative interest scheme to get Rs.1, 000/- on maturity for : A scheme to get flexible interest monthly, quarterly, half yearly or
deposit Rs.906/- for 15 months or Rs.690/- for 60 months.
Min. Deposit Rs. Rs. Rs. Rs. Rs. Rs. 933/906/854/789/743/690/-
Period (Months) 12 15 24 36 48 60
Interest Rates 7.00% 8.00% 8.00% 8.00% 7.50% 7.50%
Effective Yield 7.18% 8.30% 8.55% 8.91% 8.65% 8.99%
Limit for TDS 1,39,017/1,21,404/1,21,268/1,20,717/1,26,310/1,29,030/-
Prime Plus
: Get more than double in 112 months @7.50 rate of interest. Effective
Yield 10.72% (limit for TDS Rs. 69,700/-) more than double
Prime Recurring Scheme:

Prime Gift : A scheme is design for betterment of your childrens future (Lakhpati
Scheme). Invest Rs.1295/- per month for 63 month & get Rs.1, 00,905/- on maturity @ 7.50% rate of interest.
Prime Life
: Life Insurance Coverage of LIC linked monthly recurring scheme. To
invest Rs.235/- per month for 84 month (7 Year) with coverage of Rs.25,000/- Life Insurance of LIC with guaranteed return of 6.50% rate of interest. Monthly Deposit Rs. 235/Rs. 470/Rs. 705/Rs. 940/Rs.1175/Rs.1410/Rs.1645/Rs.1880/Ins. Coverage Rs. 25,000/Rs. 50,000/Rs. 75,000/Rs.1,00,000/Rs.1,25,000/Rs.1,50,000/Rs.1,75,000/Rs.2,00,000/-
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Prime Silver
: Bank rate linked monthly recurring scheme. To invest minimum
Rs.100/- or in multiple or deposit unlimited amount without fear of TDS for 39 months. There will be no TDS applicable for this scheme. At present interest rate is 9% (Bank Rate=6% + 3%=9%)
Over Draft Facility with Savings Bank Account
Prime Money
: A unique & fantastic over draft facility with savings bank account.
You can also get 3.50% interest of interest on your credit balance of savings.
PRIME BANK SERVICES:

Bank Assurance
Life Insurance
: We are first Co-operative Bank of South Gujarat Area who has tie up
& start Life Insurance Products Business with Aviva Life Insurance Co. India Ltd. As a Bank Assurance. (Corporate Basis)
Please note: The insurance products are underwritten by Aviva Life Insurance Company India Limited, Registered Address - Aviva Tower, Sector Road, Opp. Golf Course, DLF Phase - V, Sector-43, Gurgaon-122003, Haryana. Prime Cooperative Bank acts as a corporate agent of Aviva Life Insurance Company India Limited. License No: 4811452. For more details on risk factors, terms and conditions please read the specific product brochure carefully before concluding a sale.
Insurance is a subject matter of solicitation. General Insurance: We are first Co-operative Bank of South Gujarat Area who has tie up & start Life Insurance Products Business with Iffco Tokio General Insurance Co. Ltd. as a Bank Assurance.
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Stamp Franking Services: We provide stamp franking service at following branches * Main Branch, Khatodara, Surat. * Dandia Bazar Branch, Baroda. * Sayajiganj Branch, Baroda. * Navsari Branch. * Nadiad Branch. * Bodeli Branch, Dist. Baroda * Vyara. Dist. Tapi
Mutual Funds
: We are first & only Co-operative bank of South Gujarat Area who has
been staring business of Mutual Funds as a referral basis. : There is one & only Co-operative bank of the South Gujarat Prime
Prime Lockers
Bank has been offered Rent Free Locker Facility to the customers since the inception of the Prime Bank.
Prime Fore. Exch. : We can cater Foreign Exchange (Latter of Credit & Bank Guarantee) through IndusInd Bank. Now, we have been doing the business of Money Exchange/Changing Business.
Inward Foreign Remittance: We have tied up with Western Union Money Transfer for inward foreign remittance
Prime Dmate
: We can cater Dmate account facility through HDFC Bank.
Prime RTGS
: Now you can Transfer you fund or to receive the fund from any City
or place of India (RTGS-Real Time Gross Settlement).
Prime ePayment: We have tied up with AXIS Bank for ePayment of TDS and Income Tax
Mobile Banking
: We are a first & only Co-operative High Tech Banking Super Market
to cater your Banks inquiry on your finger tips in South Gujarat Area. You can also get cheque status on your mobile phone. You can also get lass three transactions on you cell.
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Prime ABB
: We are a first & only Fully Equipped, High Tech, Professional
Banking Super Market of South Gujarat offered Any Branch Banking. You can make Cash, Clearing & Transfer Transaction from any of Prime Banks Branch. You can also get Statement of your account or pass book of your savings bank account. So you are not a Customer of specific Branch of Prime Bank but you are Customer of Prime Bank. Seven Day working our various branches working for 7 days. 1) Bhulka Bhavan Branch 2) Bhatar Road Branch
SCHEMES
Life Insurance Bank has tied with Aviva Life Insurance Co ltd. It is joint venture between Dabur Indian FMCG Co & AVIVA UKs No 1 & worlds No 5 insurance co. All the branches are offering all the insurance products of AVIVA viz for your child education, daughters marriage, your retirement solution, term plan etc. General Insurance Bank has tied with IFFCO-TOKIYO General Insurance. It is joint venture between IFFCO a big fertilizer company in cooperative sector & TOKIYO General Insurance Japans No 1 & worlds No 5 General Insurance Co. All the branches are offering all the products viz Mediclaim, Accident insurance, Vehicle Insurance, House Insurance, factory & Shop keeping Insurance. Mutual Fund Bank has tied with Principal PNB Mutual Fund, UTI, Benchmark, ICICI Prudential, Reliance, SBI, Lotus, Birla, Kotak, Sundaram ETC. Lockers Rent free locker facility are available in Baroda at Kareli Baug, Bodeli, at Bharuch, Navsari & at following branches of Surat 1. Bhulka Bhavan (Adajan) Road, 2. Palanpur Road 3. Citylight Road, 4. Bhatar Char Rasta 5. Sardar Market Branch and 6. Lalgate Branch
29
PRIME BANK CHARGES:

Service charges w.e.f. 1-01-2009.
All types of Savings Bank A/c No frills A/c Minimum Balance Rs. 500/Charges for non maintenance thereof NIL
Other savings bank account facilities Issue of Duplicate Statement Rs. 10/- per page. Issue of loose cheque leaves Rs. 5/- per leaf Issue of duplicate pass book Rs. 25/-
Remittance Facilities through own bank DD/PO- Issue: Rs. 10/- per instrument However against cash Rs. 20/- per instrument. DD/PO Stop Payment - Rs. 50/- per instrument RTGS-Outward - Rs. 25/- per request up to Rs. 5 lacs - Rs.50/- per request beyond Rs. 5 lacs RTGS-Inward - Free.
Collection of Cheques Foreign Exchange Transactions Remittance Outward /Inward TCs Selling / Encashing Actual charges by other bank + Rs. 100/- per request. as above
Outstation Cheque Collection Own Outstation (Rs.) 0.00 Direct Actual + 35/Other bank 35/-
(not more than Rs. 100/-) Bouncing of cheques 35/Actual + 75/75/-
30
Inward Bills Collection 0.20 % with Minimum Rs. 10/- + Rs. 25/- postages
Clearing Return charges Return of cheques deposited Rs. 25/Return of cheques issued Rs. 75/- + interest @ 18% for a day if amount is beyond Rs. 1.00 lac ( Days of Holiday to be added) ECS return charges Rs. 75/-
Incidental Charges Customers who are using : Rs. 1.45 per entry subject to MICR Cheque Books minimum Rs. 70/- per quarter
Customers who are using : 50 paisa per entry subject to Non-MICR Cheque Books minimum Rs. 35/- per quarter
Processing Charges : Rs. 250/- annually in March, on CC & OD (except OD against NSC/KVP/LlC/FD) Prepayment Charges No due Certificates - Nil - Nil
Charges for late payment of EMI - 3% p.a. on overdue amount
E-Payment of Tax : Up To Rs.5000/- = Rs.20/Above Rs.5000/- = Rs.50/-
31
SOCIAL CONTRIBUTIONS:
Prime bank does not lag behind in offering contribution for the social activities, particularly in the field of education and medicines. Out of activities, particularly in the field of education and medicines. Out of the substantial profits earned by the Prime bank every year after the year, several goodwill gestures are made such as, Prime Bank Computer lab at Vankal TV & VCD to Deaf & Dumb School. Prime Bank conference Hall at the Commerce Bhavan (KP college of Commerce, Surat) Prime Bank computer Center at the Engineering college run by the Sarvajanik education Society of Surat. Prime Bank Computer Center at T&TV School, Gopipura, Surat. Distribution of blankets among the people affected by the September98 flood. Special Scheme to encourage bright children of the shareholders, carrying on Further studies and also for their medical treatment. Contribution for relief services under the auspices of the service organization Chhaydo offered at the civil medical campus for patients and their caretakers coming from the surrounding villages. Award of shields at the skating and other sports activities. Award of shields to the brilliant student (institution of Interior Designs.) Charity Contribution towards Mahavir Cardiac Hospital of Rs. 11, 25,000/- in the year 2000-01. Scholarships to students as well as Medical Expense relief to members under the Scheme of Member Welfare. Sponsored an unforgettable Sports Event for the Children of almost 60 schools of Surat, organized by Rotary Club. Contributed a Traffic Island at Bardoli & Navsari. Have arranged Blood Donation Camp. Beautiful Traffic Island at Panch Batti, Bharuch.
The above are just a few out of the innumerable events and charities where the Prime Bank has actively taken part, and the list will go on until the Bank exists.
32
SHARE HOLDER BENEFIT:
(1) Reimbursement of 50% hospitalization Expenses to first named share holder, subject to limit of Rs.5000/-
(2) Scholarship of Rs.500/- to Children of Share Holders on getting 70% Marks in SSC/HSC, on getting 60% in Graduation (Arts, Commerce,
Science, Management), on getting Cleared CA Inter / CA Final exam and on getting Admission in Degree Engineering, Medical College. Scholarship will be given every year till he / she clear the exam.
33
Chapter 4 RESEARCH METHODOLOGY
34
4.1 RESEARCH METHODOLOGY

The success of the analysis mostly depends on the methodology on which it is carried out. The appropriate methodology will improve the validity of the findings. AREA OF THE STUDY:
The study was mainly concentrated on Surat city and different branches of the Prime co-operative bank ltd.
4.2 PROBLEM STATEMENT

Customer perception and attitude study at PRIME co-operative bank limited fixed deposit scheme among banks customers
4.3 OBJECTIVES OF THE STUDY

The summer placement study helps the student to check whether the theory and practice actually matches. Organizational exposure helps the student to know how effectively they performed in the market.
The primary objectives of the study is, To identify which factors lead to the selection of prime co-operative banks fixed deposit scheme.
The secondary objectives of the study is,

To identify the problems faced by the fixed deposit customers.

To understand the competition environment of the bank
To study how the customer choose their respective fixed deposit services in bank. To identify the customer trust on bank
35
4.4 VARIABLES
CATEGORICAL VARIABLES
Nominal Education Name

Gender Occupation
CONTINUOUS VARIABLES Ratio

Attitude Perception
4.5 FORMULATION OF HYPOTHESIS

There is no significant relationship between customer income and for different time period customer investing money in FD scheme. There is no significant relationship between customer occupation and prime bank support and service. There is no significant relationship between customer income and security of money. There is no significant relationship between customer income and FD is important for future family support.
36
4.6 RESEARCH DESIGN:

Descriptive Research: Descriptive research includes survey and fact-findings enquire of different kinds. The major purpose of descriptive research is description of the state affairs, as it exists at present.
DATA COLLECTION: The study is based on the data collected through primary and secondary sources. SECONDARY DATA: PRIMARY DATA:
A questionnaire was designed to collect primary data from various fixed deposit customer. SAMPLING DESIGN:
The sampling design mainly consists of the sample taken for the study along with the sample size, sample frame and sampling method. SAMPLE UNIVERSE:
The data of All customers using fixed deposit service was taken as the sample universe. SAMPLE SIZE:
From the universe, sample sizes of 100 customers were selected for the purpose of the study. SAMPLE FRAME:
The customers were selected on convenience sampling. SAMPLING METHOD:
Convenience sampling was used, based on the willingness and availability of the respondents. The study was conducted on consumers with different type of business.
37
4.7. LIMITATIONS OF THE STUDY

a) The behavior of the customer while approaching them to fill the questionnaire was unpredictable. b) The shortage of time was another constrain for the study. c) There may be error due to bias of respondent d) Lack of customers cooperation was a major constraint. e) Some of the customer was too aggressive in nature. f) When asking the question about them incomes that time they are some hesitate to give the information. g) Majority of the customer are senior citizen and thats why they didnt interact properly.
4.8. NEED AND SCOPE OF THE STUDY

Today, for any organization or firm to survive in this competitive world depends on its ability to be dynamic and be different from the competition to be unique in the industry. Customer Satisfaction helps every organization to keep the existing customer and to build new customer.
This research is aimed at profiling the standard customer with an aim to increase the network and improve company-customer relations. The information gathered through this research can be used by the company to improve its services and became more customers friendly. This can increase the goodwill of the company and its overall performance.
Thus this study is aimed to provide the management with some knowledge about its status in market both in terms of sales and customer awareness. The research also aims to provide some ideas to improve the companys present condition.
4.9 DATA ANALYSIS PLAN

Data will be analyzed using SPSS (Statistical Package for Social Sciences) package v 17.0 by IBM. The data analysis tool applied here is frequencies, cross tabulation, and chi-square analysis.
38
Chapter 5 Review of literature
39
Review of literature
A brief literature would be of immense help to the researcher in gaining insight into selected problem. The researcher would gain good background knowledge of the problem by reviewing certain studies. A reference to these entire studies will be related in the contest of the shaping the present study.
YOGESH KUMAR FOUZDAR, in his study an observation recorded is that people are not very
keen on buying FDs as the interest rates are very low in comparison to products like mutual funds, shares, etc. and so people think that they are getting very less returns than expected on their investments. 1. YOGESH KUMAR FOUZDAR, Enhancing the Fixed Deposit Penetration in Retail Banking, a study with a reference to HDFC bank, an unpublished MBA. Dissertation, submitted to Hindustan institute of management and computer study, Mathura July 20092010. 2. Rajesh R (2010), in his study Whether Today's Customers are Satisfied? A Study
with Banks. The study reveals that on an average 80% of its customers are satisfied. 3. Nikhil Chandra Shil (2010), in his study, Analysis of Gap in Service Quality through
SERVQUAL: A Case of Deposit Service Provided by a Bank in Bangladesh. A questionnaire survey is administered to calculate the gap score using SERVQUAL scale and thrust areas have been identified on the basis of the gap score where management should give more attention. 4. M.Muzakkeerul Huda, in his study, Explicating Customer Satisfaction: A Survey
on Private Commercial Banks. Customer satisfaction is more prioritized in recent years due to the quality drive among customers. The current research also targets to accommodate the quality issue on satisfaction from service providers point of view. Services of private commercial banks are evaluated to study the level of satisfaction achieved by them in satisfying their clients.
40
Chapter 6 ANALYSIS AND INTERPRETATION
41
Table showing gender ratio using fixed deposit service of prime co-operative bank ltd
Gender
Frequenc y 77 23 100 Percent 77.0 23.0 100.0 Valid Percent 77.0 23.0 100.0 Cumulative Percent 77.0 100.0
Vali d
Male Female Total
CHART 1
INTERPRETATION: The Interpretation is that 77% male have using fixed deposit service, while the other side 23% female using fixed deposit service of Prime co-operative bank ltd.
42
Table showing income wise customer using fixed deposit service of prime co-operative bank ltd
Income
Frequency Percent Valid Percent Cumulative Percent Below Rs. 120000 11 11.0 11.0 11.0 120000-180000 22 22.0 22.0 33.0 Valid 180000-240000 26 26.0 26.0 59.0 Above 240000 41 41.0 41.0 100.0 Total 100 100.0 100.0
CHART 2
INTERPRETATION: The Interpretation is that 11% customer whose income is Below Rs.120000, 22% customer whose income are between 120000-180000, and 26% customer whose income is 180000240000, and 41% customer whose income is Above 240000.
43
Table showing occupational wise customer using fixed deposit service of prime co-operative bank ltd
Occupation
Frequency Percent Valid Percent Cumulative Percent Student 5 5.0 5.0 5.0 Business 33 33.0 33.0 38.0 Professional 14 14.0 14.0 52.0 Valid Government service 15 15.0 15.0 67.0 Other 33 33.0 33.0 100.0 Total 100 100.0 100.0
CHART 3
INTERPRETATION: The Interpretation is that 5% customer is student, 33% is business man, 14% is professional, 15% is government service, and 33% who are retired person and housewife those are investing money in prime bank FD scheme.
44
Table showing awareness about fixed deposit service

Awareness about the FD
Frequency Percent Valid Percent Cumulative Percent yes 99 99.0 99.0 99.0 Valid not sure 1 1.0 1.0 100.0 Total 100 100.0 100.0 CHART 4
INTERPRETATION: The Interpretation is that 99% customer is aware about the fixed deposit scheme and only 1% customer is not aware about the fixed deposit scheme of prime co-operative bank ltd.
45
Table showing prime bank customers who are investing money in other bank
Investing money in other banks FD
Frequency Percent Valid Percent Cumulative Percent yes 49 49.0 49.0 49.0 Valid no 51 51.0 51.0 100.0 Total 100 100.0 100.0
CHART 5
INTERPRETATION: The Interpretation is that 49% of customer who invested money in prime bank fixed deposit scheme they are also invested money in other banks FD scheme and 51% of customer they are not invested money in other banks fixed deposit scheme.
46
Table shows prime bank customers who are investing money in other bank.
bank Frequencies Responses N Percent 19 21.1% 1 1.1% 17 18.9% 9 10.0% 3 3.3% 24 26.7% 17 18.9% 90 100.0% Percent of Cases 38.8% 2.0% 34.7% 18.4% 6.1% 49.0% 34.7% 183.7%
investment in other bank
Investment SBI Investment ICICI Investment SURAT PEOPLES BANK investment BOB Investment HDFC Investment POST OFFICE Investment ANY OTHER
Total
CHART 6
30 25 20 15 10 5 0 InvestmentInvestmentInvestmentinvestmentInvestmentInvestmentInvestment SBI ICICI SURAT BOB HDFC POST ANY PEOPLES OFFICE OTHER BANK
47
CHI-SQUARE TEST:
THE TABLE SHOWS CHI-SQUARE TEST RELATIONSHIP BETWEEN
CUSTOMER INCOME AND CUSTOMER INVESTING MONEY IN OTHER BANK.
Cross tabulation Count

Investing money in other banks FD Total
Yes Below Rs. 120000 Income 120000-180000 180000-240000 Above 240000 Total 3 14 10 22 49
no 8 8 16 19 51 11 22 26 41 100
Chi-Square Tests
Value df Asymp. Sig. (2sided) Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association 5.475
a
3 3 1
.140 .133 .504
5.592 .446
N of Valid Cases
100
a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 5.39.
The chi-square value is 0.140 which is more than 0.05 thats why null hypothesis is failed to rejected. There is no significant relationship between customer income and customer investing money in other bank.
48
CHART 7
INTERPRETATION: As per the data showing we can say that 41% customer income is more than 240000 among that 54% customer investing money in other bank fixed deposit scheme and 46% customer is not investing money in other bank fixed deposit scheme. 11% customer income is below 120000 among that 27% customer investing money in other banks FD and 73% customer is not investing money in other bank FD.
49
THE TABLE SHOWS CROSS TABULATION BETWEEN CUSTOMER INCOME AND FOR DIFFERENT TIME PERIOD CUSTOMER INVESTING MONEY IN FD SCHEME.
Cross tabulation
Count For what time period have you invested 7-30 days 6.50% Below Rs. 120000 Income 120000-180000 180000-240000 Above 240000 Total 0 1 4 6 0 0 2 3 5 3 4 13 17 20 28 73 0 2 3 5 22 26 41 100 1 31-180 days 6.50% 1 181-365 days 7.00% 1 above 1-3 years 8.00% 8 above 3 years 7.50% 0 11 Total
CHART 8
INTERPRETATION: As per the data showing we can say that 41% customer income is more than 240000 among that 10% customer investing money in 7-30 DAYS 6.50% FD scheme and 5% customer is investing money in 31-180 days 6.50% FD scheme, 10% customer investing money in 181365 days 7% FD scheme, 68% customer investing money in above 1-3 years 8% FD scheme and 7% customer investing money in above 3 years 7.50% FD scheme.
50
THE
TABLE
SHOWS
CROSS
TABULATION
BETWEEN
CUSTOMER
OCCUPATION AND A CUSTOMER THINK FD IS BETTER OPTION OF INVESTMENT.
Cross tabulation
A better option of investment Strongly agree Agree Neutral Disagree student 0 2 1 2 Business 2 19 12 0 Professional 0 4 10 0 Government service 0 5 10 0 other 2 18 12 1 Total 4 48 45 3 Occupational status Total 5 33 14 15 33 100
CHART 9
INTERPRETATION: As per the data showing we can say that 33% customer occupation is business among that 6% customer is strongly agree about FD is better option of investment and 58% customer is agree about FD is better option of investment, 36% customer is neutral about FD is better option of investment and no one is disagree.14% customer occupation is professional among that 29% customer is agree and 71% customer is neutral about FD is better option of investment.
51
THE
TABLE
SHOWS
CHI-SQUARE
TEST
RELATIONSHIP
BETWEEN
CUSTOMER INCOME AND SECURITY OF MONEY.
Cross tabulation
Count Security of money Strongly agree Below Rs. 120000 120000-180000 Income 180000-240000 Above 240000 Total 3 8 18 22 30 70 1 3 11 0 0 1 26 41 100 3 4 Agree 4 14 Neutral 4 3 Disagree 0 1 11 22 Total
Chi-Square Tests
Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases 15.771
a
df 9 9 1
Asymp. Sig. (2-sided) .072 .136 .171
13.624 1.878 100
a. 11 cells (68.8%) have expected count less than 5. The minimum expected count is .11.
The chi-square value is 0.072 which is more than 0.05 thats why null hypothesis is failed to rejected. There is no significant relationship between customer income and security of money.
52
CHART 10
INTERPRETATION: As per the data showing we can say that 41% customer income is more than 240000 among that 20% customer is strongly agree with security of money in prime bank and 73% customer is agree, 7% customer is neutral with security of money in prime bank.11% customer income is below 120000 among that 27% customer is strongly agree with security of money in prime bank, 36% customer is agree, 36% customer is neutral with security of money in prime bank.
53
THE
TABLE
SHOWS
CHI-SQUARE
TEST
RELATIONSHIP
BETWEEN
CUSTOMER OCCUPATIONAND PRIME BANK SUPPORT AND SERVICE.
Cross tabulation Bank support and service Strongly agree student Occupational status Business Professional Government service other 1 21 11 4 18 55 Agree Neutral 3 10 3 10 13 39 1 2 0 1 2 6 5 33 14 15 33 100 Total
Total
Chi-Square Tests
Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases 12.910a 13.488 .099 100 df 8 8 1 Asymp. Sig. (2-sided) .115 .096 .753
The chi-square value is0.115 which is more than 0.05 thats why null hypothesis is failed to rejected. There is no significant relationship between customer occupation and prime bank support and service.
54
CHART 11
INTERPRETATION: As per the data showing we can say that 33% customer occupation is business among that 64% customer is strongly agree about bank support and service of prime bank and 30% customer is agree about bank support and service of prime bank, 6% customer is neutral about bank support and service of prime bank and no one is disagree.14% customer occupation is professional among that 79% customer is strongly agree and 21% customer is agree about bank support and service of prime bank.
55
THE
TABLE
SHOWS
CHI-SQUARE
TEST
RELATIONSHIP
BETWEEN
CUSTOMER INCOMES AND FOR FUTURE FAMILY SUPPORT.
Cross tabulation
Count For future family support Strongly agree Below Rs. 120000 120000-180000 Income 180000-240000 Above 240000 Total 2 7 12 14 23 54 9 11 30 1 0 3 0 0 1 26 41 100 1 2 Agree 6 11 Neutral 2 8 Disagree 1 1 Strongly disagree 1 0 11 22 Total
Chi-Square Tests
Value Pearson Chi-Square Likelihood Ratio Linear-by-Linear Association N of Valid Cases 13.663
a
df 12 12 1
Asymp. Sig. (2-sided) .323 .551 .050
10.745 3.835 100
The chi-square value is 0.323 which is more than 0.05 thats why hypothesis is failed to rejected. There is no significant relationship between customer incomes and for future family support.
56
CHART 12
INTERPRETATION: As per the data showing we can say that 41% customer income is more than 240000 among that 17% customer is strongly agree with FD is good for future family support and 56% customer is agree, 27% customer is neutral with FD is good for future family support. 11% customer income is below 120000 among that 9% customer is strongly agree with FD is good for future family support, 55% customer is agree, 18% customer is neutral with security of money in prime bank, 9% customer is neutral and 9% customer is strongly disagree about FD is better for future family support.
57
THE
TABLE
SHOWS
CHI-SQUARE
TEST
RELATIONSHIP
BETWEEN
CUSTOMER OCCUPATION AND TRUST ON BANK. Cross tabulation Strongly agree student Business Professional Government service other Total Trust on bank Agree Neutral Disagree 0 12 8 4 12 36 3 19 6 10 19 57 0 1 0 0 0 1 2 1 0 1 2 6 5 33 14 15 33 100
Occupational status
Total
CHART 13
INTERPRETATION: As per the data showing we can say that 33% customer occupation is other among that 36% customer is strongly agree with trust on bank and 58% customer is agree with trust on bank, 6% customer is disagree with trust on bank. 15% customer occupation is government service among that 27% customer is strongly agree and 67% customer is agree, 7% customer is disagree with the trust on bank.
58
THE
TABLE
SHOWS
CHI-SQUARE
TEST
RELATIONSHIP
BETWEEN
CUSTOMER INCOME AND EASY RECEPTION OF MONEY AFTER MATURITY. Cross tabulation
Easy reception of money after maturity Strongly agree Below Rs. 120000 120000-180000 Income 180000-240000 Above 240000 Total 10 20 43 15 21 55 1 0 1 0 0 1 26 41 100 4 9 Agree 6 13 Neutral 0 0 Disagree 1 0 11 22 Total
CHART 14
INTERPRETATION: As per the data showing we can say that 41% customer income is more than 240000 among that 49% customer is strongly agree with easy reception of money after maturity and 51% customer is agree, and no one is disagree. 11% customer income is below 120000 among that 36% customer is strongly agree , 54% customer is agree and 9% customer is disagree with easy reception of money after maturity.
59
THE
TABLE
SHOWS
FREQUENCY
DISTRIBUTION
FIXED
DEPOSIT
SCHEMEON AN OVERALL BASIS
Frequency poor fair good very good excellent Total 1 9 31 35 24 100
Percent 1.0 9.0 31.0 35.0 24.0 100.0
CHART 15
INTERPRETATION: 24% customer said that FD scheme of prime bank is excellent, 35% customer said that very good, 31% customer said that good and 9% customer said that fair and only 1% customer said that poor FD scheme of prime bank all over basis.
60
Chapter 7 Finding and suggestion and conclusion
61
7.1. FINDINGS
1. Quality of the service provided plays an important role in keeping the existing customers and to bring new customers. 2. Large number of the customers having FD scheme of Prime Co-operative Bank belong to businessman and other, in other category there are retired persons and housewife those are using the FD around 66%. Thus FD scheme has attracted attention of different people. 3. Large numbers of the customers having the FD scheme of Prime Co-operative Bank belong to middle and higher income group ranging from Rs. 1.80 lacs to above Rs. 2.40lacs. Thus the FD scheme has perfectly targeted the middle and higher income group people. 4. Most of the prime bank customer they are also investing money in different banks FD scheme, around 49% customer investing in different bank FD scheme. 5. Majority of the customers think that FD is the better option of investment because the return given by bank is fixed for particular rate of interest given on different scheme. 6. Majority customer has trust on prime co-operative bank, some of the customer dont have the trust on prime bank so prime bank have to build the trust on those customer who think the prime bank is not trustful, this is the most important. 7. Majority of the customer are satisfy by the easy reception of money after maturity, this saw the relationship between bank and customer is good. 8. Around 73% customers are investing money in the 1-3 years scheme because the rate of interest given by bank is 8% which is high in comparison with the other FD scheme. 9. Large number of the customers having FD scheme are Satisfied with the bank support and service provided by the Prime Co-operative Bank for FD .94% customer agreed that service provided by Prime Bank is excellent. 10. Majority of the customer are feeling that security of money in prime co-operative bank is very good. 11. Large number of the customers having FD scheme are satisfied with the FD scheme is the important for future family support, around 94% customers agreed that.
62
7.2. SUGGESTIONS
On completion of the project work Customer perception and attitude towards PRIME bank fixed deposit scheme service among customers of SURAT, I would like to give my suggestions which the company can make use of:-
1. The customer rate bank support and service for fixed deposit scheme as the most relevant one and hence prime bank should maintain bank support and service and should make improvements in this feature.
2. If any complaint is observed from the customers, it should be dealt quickly. This will reduce the chance for dissatisfaction.
3. Prime bank have to maintain those customer who are also investing money in other bank, because most of the customer investing other bank also and fulfill those customer need and give them good service.
4. Most of the customer investing money in 1-3 years scheme because the rate of interest give by this time period is high so in other scheme customer investing money low, so bank have to increase the customer to invest money those time period also.
5. Those customer who are thinking that prime bank is not trustful, so this making the dissatisfaction and thats why bank have to increase the trust on customer that is most important.
63
7.3. CONCLUSION
The project titled Customer perception and attitude towards fixed deposit investments at the PRIME CO-OPERATIVE BANK LTD was carried out among the customers in SURAT. The overall objective of the study was to find out how the customer perceives Prime bank fixed deposit scheme and service and to find out their satisfaction towards the service against other bank. The study revealed the picture of customers perception and satisfaction which help PRIME co-operative bank ltd to encourage more people to be the customers/consumers of Prime bank.
64
BIBILIOGRAPHY
65
BOOK REFERENCES
Philip Kotler & Keller, Koshy and Jha (2009), Marketing Management, 13th Edition, Asian Perspective, Prentice Hall Inc .
Cooper Donald, R. & Schindler Pamela, S. (2006).Marketing Research Concepts &Cases. Edition, Tata McGraw Hill Publishing Company Limited. Field, A.P. (2005), Discovering Statistics Using SPSS, 2nd Edition, London Sage
WEBSITE REPERENCES:
HTTP//WWW. primebankindia.com http://finance.indiabizclub.com/info/indian_banking_industry http://www.blurtit.com/q361870.html
66
Annexure
67
QUESTIONNAIRE
Dear sir/madam, I am a student of NIS Academy Vadodara and I am undertaking a study on Customer perception and attitude towards fixed deposit investments at the PRIME CO-OPERATIVE BANK LTD. as my project topic. I request you to give your objective and unbiased opinion. The information will be kept confidential. -Rahul Sondharwa
PERSONAL DETAILS:
Name Gender: Income: [ ] [ ] Occupational Status: [ ] [ ] Student Government Service [ ] Business [ ] Professional [ ] Others. Specify: __________ Below Rs. 120000 180000-240000 [ ] [ ] 120000-180000 Above 240000 : _______________________________________________ [ ] Male [ ] Female
1. Are you aware about the fixed deposit scheme of the Prime Co-op bank? [ ] yes [ ] no [ ] not sure 2. Have you invested your money in fixed deposit scheme of prime co-operative bank? [ ] yes [ ] no 3. Have you invested money in any others bank fixed deposit scheme? [ ] yes [ ] no (If answer to question no. 3 is yes, than answer the question no. 4, otherwise skip it) 4. In which other bank(s) have you invested your money in fixed deposit scheme, (Multiple tick marks possible) [ ] SBI [ ] UNION BANK [ ] ICICI [ ] POST OFFICE [ ] AXIS BANK [ ] BOB [ ] ANY OTHER_________________
68
5. What would you say about the fixed deposit scheme of Prime Co-op Bank when Compared with other banks fixed deposit scheme? [ ] Much better [ ] somewhat better [ ] same [ ] worse
6. For what time period have you invested your money in FD of Prime Co-op bank?
Period Rate of Interest 6.50% 6.50% 7.00% 8.00% 7.50%
[ ] 7 30 days (minimum Rs.15 Lacs) [ ] 31 180 days [ ] 181 365 days [ ] above 1-3 years [ ] above 3 years
7. Do you have any knowledge about the loan provided by prime co-operative bank against fixed deposit? [ ] yes [ ] no [ ] not sure 8. Rate the following reasons for investing in fixed deposit scheme, on the scale of 1-5, Where, (1: Strongly agree, 2: Agree, 3: Neutral, 4: Disagree, 5: Strongly disagree)
No
Attributes
Scale 1 2 3 4 5
1 2 3 4 5 6 7 8
Good rate of interest A Better option of investment Security of money Bank support and service For loan against fixed deposit For future family support Trust on bank Easy reception of money after maturity
9. Rate the fixed deposit scheme of prime co-operative bank on overall basis. [ ] Poor [ ] Fair [ ] good [ ] very good [ ] Excellent
69

Final Report Prime Bank

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DECLARATION

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

INTRODUCTION TO THE STUDY

PRIME Co-operative Bank Ltd

Customer satisfaction measurement program:

PRIME Co-operative Bank Ltd

Models of consumer behavior:

PRIME Co-operative Bank Ltd

CHAPTER -2 INDUSTRY PROFILE

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

Meaning (definition) of Bank:

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

BANKING SYSTEM IN INDIA Apex Banking Institution RBI

PRIME Co-operative Bank Ltd

CHAPTER -3 COMPANY PROFILE

PRIME Co-operative Bank Ltd

Your Bank for You

PRIME Co-operative Bank Ltd

PRIME BANK PROFILE

PRIME Co-operative Bank Ltd

PRIME BANK HISTORY

-In June 2007 Surat's 'Adajan Nagrik Co-Op. Bank' and

PRIME Co-operative Bank Ltd

PRIME Co-operative Bank Ltd

CAPITAL AND LIABILITIES

97,899,600.00 285,818,825.91 5,005,926,763.11 11,514.00

5,466,301.44 7,986,694.00 86,016,986.30 34,027,774.10

14,989,846.92 9,556,474.00 57,995,911.66 4,603.33 68,425,704.38 29,692,925.43

PROPERTY & ASSETS

CASH IN HAND BALANCE WITH BANKS 7 8 9 10

110,717,920.81 221,261,432.08 2,711,926,661.81 2,551,490,795.03 115,699,781.66

PRIME Co-operative Bank Ltd

Fixed Deposit Meaning:

: It is auto renewal fixed deposit scheme. Which can renew at every 30

PRIME Co-operative Bank Ltd

: 1% extra interest on Deposit or Recurring Account of Senior Citizen

deposit Rs.906/- for 15 months or Rs.690/- for 60 months.

Min. Deposit Rs. Rs. Rs. Rs. Rs. Rs. 933/906/854/789/743/690/-

Interest Rates 7.00% 8.00% 8.00% 8.00% 7.50% 7.50%

Effective Yield 7.18% 8.30% 8.55% 8.91% 8.65% 8.99%

Limit for TDS 1,39,017/1,21,404/1,21,268/1,20,717/1,26,310/1,29,030/-

Prime Recurring Scheme:

: Life Insurance Coverage of LIC linked monthly recurring scheme. To

PRIME Co-operative Bank Ltd

: Bank rate linked monthly recurring scheme. To invest minimum

Over Draft Facility with Savings Bank Account

PRIME BANK SERVICES:

PRIME Co-operative Bank Ltd

: We can cater Dmate account facility through HDFC Bank.

or place of India (RTGS-Real Time Gross Settlement).

PRIME Co-operative Bank Ltd

: We are a first & only Fully Equipped, High Tech, Professional

PRIME Co-operative Bank Ltd