Saving account offerings of hdfc bank

1

A PROJECT REPORT

ON “SAVING ACCOUNT OFFERINGS OF HDFC BANK”

A report submitted towards the partial fulfillment of the requirements of the

two years fulltime Post Graduate Programme in Management.

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3

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TABLE OF CONTENT

Titles Page No.

Introduction 06

Management 06

Board of directors 07

Business 08

Business focus 10

Promoters 11

Amalgamation 11

Distribution network 12

Technology 12

Saving account of HDFC Bank 13

SWOT Analysis 86

Comparative Analysis of Consumer Satisfaction Level 91

Conclusion 98

Bibliography 99

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INTRODUCTION

The Housing Development Finance Corporation Limited (HDFC) was amongst the

first to receive an ‘inprinciple’ approval from the Reserve Bank of India (RBI) to set

up a bank in the private sector, as part of the RBI’s liberalization of Indian Banking

Industry in 1994. The bank was incorporated in August 1994 in the name of ‘HDFC

Bank Limited’, with its register office in Mumbai, India. HDFC Bank commenced

operations as a Scheduled Commercial Bank in January 1995.

MANAGEMENT

Mr. Jagdish Capoor took over as the bank’s Chairman in July 2001. Prior to this, Mr.

Capoor was a Deputy Governor in the Reserve Bank of India.

The Managing Director Mr. Aditya Puri has been a professional banker for over 25

years and before joining HDFC bank in 1994 was heading Citibank’s operation in

Malaysia.

The Bank’s Board of Directors is composed of eminent individuals with a wealth of

experience in public policy, administration, industry and commercial banking. Senior

executives representing HDFC are also on the Board.

Senior banking professionals with substantial experience in India and abroad head

various business and functions and report to the Managing Director. Given the

professional expertise management team and the overall focus on recruiting and

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retaining the best talent in the industry, the bank believes that its people are a

significant competitive strength.

BOARD OF DIRECTORS

Mr. Jagdish Capoor, Chairman

Mr. Aditya Puri, Managing Director

Mr. Keki Mistry

Mr. Vineet Jain

Mrs. Renu Karnad

Mr. Arvind Pandey

Mr. Ashim Samanta

Mr. C. M. Vasudev

(Appointed as Additional Director w.e.f. 17.10.2006)

Mr. Gautam Divan


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Mr. Bobby Parikh

(Resigned w.e.f. 17.10.2006)

Dr. Venkat Rao Gadwal

(Relinquished Office w.e.f. 14.3.2007)

Dr. Pandit Palande


BUSINESS

HDFC Bank offers a wide range of commercial and transactional banking services

and treasury products to wholesale and retail customers. The bank has three key

business segments:

WHOLESALE BANKING SERVICES

The Bank's target market ranges from large, blue-chip manufacturing companies in the

Indian corporate to small & mid-sized corporates and agri-based businesses. For these

customers, the Bank provides a wide range of commercial and transactional banking

services, including working capital finance, trade services, transactional services, cash

management, etc. The bank is also a leading provider of structured solutions, which

combine cash management services with vendor and distributor finance for facilitating

superior supply chain management for its corporate customers. Based on its superior

product delivery / service levels and strong customer orientation, the Bank has made

significant inroads into the banking consortia of a number of leading Indian corporates

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including multinationals, companies from the domestic business houses and prime public

sector companies. It is recognised as a leading provider of cash management and

transactional banking solutions to corporate customers, mutual funds, stock exchange

members and banks.

RETAIL BANKING SERVICES

The objective of the Retail Bank is to provide its target market customers a full range

of financial products and banking services, giving the customer a one-stop window

for all his/her banking requirements. The products are backed by world-class service

and delivered to the customers through the growing branch network, as well as

through alternative delivery channels like ATMs, Phone Banking, NetBanking and

MobileBanking.

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank

Plus and the Investment Advisory Services programs have been designed keeping in

mind needs of customers who seek distinct financial solutions, information and

advice on various investment avenues. The Bank also has a wide array of retail loan

products including Auto Loans, Loans against marketable securities, Personal Loans

and Loans for Two-wheelers. It is also a leading provider of Depository Participant

(DP) services for retail customers, providing customers the facility to hold their

investments in electronic form.

HDFC Bank was the first bank in India to launch an International Debit Card in

association with VISA (VISA Electron) and issues the MasterCard Maestro debit card

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as well. The Bank launched its credit card business in late 2001. By September 30,

2005, the bank had a total card base (debit and credit cards) of 5.2 million cards.

The Bank is also one of the leading players in the "merchant acquiring" business

with over 50,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at

merchant establishment.

TREASURY

Within this business, the bank has three main product areas - Foreign Exchange and

Derivatives, Local Currency Money Market & Debt Securities, and Equities. With the

liberalization of the financial markets in India, corporates need more sophisticated

risk management information, advice and product structures. These and fine pricing

on various treasury products are provided through the bank's Treasury team. To

comply with statutory reserve requirements, the bank is required to hold 25% of its

deposits in government securities. The Treasury business is responsible for

managing the returns and market risk on this investment portfolio.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound

customer franchises across distinct businesses so as to be the preferred provider of banking

services for target retail and wholesale customer segments, and to achieve healthy growth

in profitability, consistent with the bank's risk appetite. The bank is committed to maintain

the highest level of ethical standards, professional integrity, corporate governance and

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regulatory compliance. HDFC Bank's business philosophy is based on four core values -

Operational Excellence, Customer Focus, Product Leadership and People.

PORMOTERS

HDFC is India's premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth in its operations to

remain the market leader in mortgages. Its outstanding loan portfolio covers well

over a million dwelling units. HDFC has developed significant expertise in retail

mortgage loans to different market segments and also has a large corporate client

base for its housing related credit facilities. With its experience in the financial

markets, a strong market reputation, large shareholder base and unique consumer

franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

AMALGAMATION In a milestone transaction in the Indian banking industry, Times Bank Limited

(another new private sector bank promoted by Bennett, Coleman & Co./Times

Group) was merged with HDFC Bank Ltd., effective February 26, 2000. As per the

scheme of amalgamation approved by the shareholders of both banks and the

Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC Bank

for every 5.75 shares of Times Bank. The acquisition added significant value to

HDFC Bank in terms of increased branch network, expanded geographic reach,

enhanced customer base, skilled manpower and the opportunity to cross-sell and

leverage alternative delivery channels.

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DISTRIBUTION NETWORK HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable

network of over 744 branches spread over 339 cities across India. All branches are

linked on an online real-time basis. Customers in over 120 locations are also

serviced through Telephone Banking. The Bank's expansion plans take into account

the need to have a presence in all major industrial and commercial centres where its

corporate customers are located as well as the need to build a strong retail customer

base for both deposits and loan products. Being a clearing/settlement bank to

various leading stock exchanges, the Bank has branches in the centres where the

NSE/BSE has a strong and active member base.

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information

technology and communication systems. All the bank's branches have online

connectivity, which enables the bank to offer speedy funds transfer facilities to its

customers. Multi-branch access is also provided to retail customers through the

branchnetworkandATM.

The Bank has made substantial efforts and investments in acquiring the best

technology available internationally, to build the infrastructure for a world class bank.

The Bank's business is supported by scalable and robust systems which ensure that

our clients always get the finest services we offer.

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The Bank has prioritized its engagement in technology and the internet as one of its

key goals and has already made significant progress in web-enabling its core

businesses. In each of its businesses, the Bank has succeeded in leveraging its

market position, expertise and technology to create a competitive advantage and

build market share.

SAVING ACCOUNTS OF HDFC BANK HDFC bank offers different type of saving account to the requirement and potentiality

of the customers. Those offers are discussed one by one as below.

1. REGULAR SAVING ACCOUNT It is an easy to operate saving account that allows a customer to issue cheques,

draw demand drafts and withdraw cash. The customers can check up on their

balances at their on comfort zone through net banking, phone banking and mobile

banking.

1.1. FEATURES & BENEFITS

Wide network of branches and over thousand of ATMs to meet customers

all banking needs. It does not matters where the customer locates.

Bank conveniently with facilities like net banking, mobile banking check

customers account balance, put utility bills or stop cheque payment through

SMS.

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Never overspend- customers can shop using their International Debit Card

that reflects the actual balance in their savings account.

Personalized cheques with their name printed on each cheque leaf for

enhanced security.

Availability of facilities like safe deposit locker, sweep in and super saver

facility on customers account.

Three free transactions on SBI/Andhra bank ATM per month.

Free payable at par cheque book without any usage charge up to a limit of

Rs. 50000 p.m.

Free InstaAlert for all account holders for life time of the account.

Free passbook facility available for home branch for individual account

holders.

Free e-mail statement facility.

1.2. ELIGIBILITY & ACCOUNT OPERATION

ELIGIBILITY The following are eligible to open a Regular Saving account.

Resident Individuals (sole or joint account).

Hindu Undivided Families.

ACCOUNT OPERATION A minimum deposit of Rs. 5,000/- is required to open an account and

thereafter an Average Quarterly Amount of the same amount has to be

maintained.

If a customer open a Fixed Deposit Account of Rs. 50,000/-, then no longer

they have to maintain a minimum balance of Rs. 5,000 on their Savings

Account. In effect their account becomes a Zero Balance Account.

http://www.hdfcbank.com/personal/cards/Debit_Cards/EasyShop_International_Debit_Card/dc_int.htm

http://www.hdfcbank.com/personal/accounts/fixed_deposits/regular_fixed_deposit/regular_fd.htm

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1.3. FEES & CHARGES

Description of Charges Regular Savings Account

Minimum Balance (Average

Quarterly Balance)

Option 1

Rs. 5000 (Urban), Rs. 2500

(Semi-urban)

Option 2

NIL with a Fixed deposit of

Rs. 50,000

Charges on non maintenance

thereof

Option 1

Rs. 750 per qtr (Urban &

Semi-urban)

Option 2

In case of non

maintenance of Rs. 50,000

Fixed Deposit - Rs. 750 per

qtr (Urban & Semi-urban)

Cheque Book

Free

Rs. 5 per leaf on non maintenance of Min

balance

PAP Cheque book

Upto Rs. 50,000 pm - No charges, Above Rs.

50,000 - Rs. 2.90 per 1000 on full amount.

Account Statements - Free

Monthly statements to be Collected from

branch.

Quarterly statements sent by post

Issue of duplicate / adhoc

statements

Rs.100 at Branch, Rs.50 per statement

through Phone banking (Non-IVR) & ATM,

Rs.30 per statement through Net banking,

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Phone banking (IVR), & Mobile banking.

Hold Statement Rs. 400 per year

Passbook issuance Free

Duplicate passbook issuance Rs 100/-

Managers Cheques/Demand

Drafts- Issuance/Re-issuance -

On HDFC Bank Locations

DD request through Branch

Upto Rs.

10,000

Rs. 50

Rs. 40 (Senior Citizens /

Individuals in Rural areas)

Above

Rs.10,000 &

upto Rs.

50,000

Rs. 75 (Rs. 50 through

Phone banking)



Only DD amount upto Rs

100,000 for Preferred & Rs

50,000 for other customers

accepted at Phone banking

Above Rs.

50,000 & upto

Rs. 1 Lakh

Rs. 2.50 per 1000 or part

thereof (Min Rs. 150)

Above Rs. 1

Lakh

Rs. 2 per 1000 or part

thereof (Min Rs. 250 & Max

Rs. 5000)

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DD request through Netbanking

Upto Rs. 1

Lakh

Rs .30+(Corr. Bank

charges if applicable)

Third party DD

upto Rs. 1

Lakh

Rs .30+(Corr. Bank


(Third Party Registration required.

Customers registered for Third Party

Transfers have a maximum limit of 5 lacs per

cust. id and hence can issue multiple DDs of

1 lacs upto 5 lacs and send it to the

benefiacry address)

Managers Cheque/Demand

Drafts - Cancellation /

Revalidation

Rs. 50

Rs. 40 (Senior Citizens / Individuals in Rural

areas)

Demand Drafts- Issued - On Non

HDFC Bank Locations

Rs. 50 plus charges as outlined below:

Upto Rs. 500 Rs. 10

Above Rs. 500

to Rs. 1000 Rs. 15

Above Rs.

1000 to Rs.

5000 Rs. 25

Above Rs. Rs. 30

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5000 to Rs.

10,000

Above Rs.

10,000 to Rs. 1

Lakh


thereof

Above Rs. 1

Lakh



Cheque Collection - Local

Clearing Zone Free

Collection of outstation cheques -

our bank locations

Cheques drawn on metro/non-metro cities

(Branch Locations)

Cheque value

Rs. 0 to Rs.

500 No Charges

Cheque value

Rs. 501 &

above

Re. 1 per 1000 (Min Rs.

50)

Credit on receipt of clear funds


other locations

Cheques (MICR) drawn on non-branch

locations with correspondent bank tie-up -

0.40% (Min Rs. 50)

Cheques drawn on non-branch locations with

no correspondent bank tie-up/non-MICR

cheques - 0.65% + Rs. 25 (Min Rs. 50)

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Cheque return charges drawn on

us - Local

Due to insufficient funds - Rs. 350

Due to Technical reasons - No charge

Rs. 400 on non-maintenance of Min balance


us deposited in other locations Rs. 75

Cheques deposited - outward

Rs. 50

Rs. 100 on non maintenance of Min balance

Balance Enquiry - at Branch Free

Balance Certificate Current year - Free, Previous year - Rs. 250

Interest Certificate Rs. 50

TDS Certificate Free

Account Closure

Upto 14 days - No charge

15 days upto 6 months - Rs 100/-

Above 6 months - No charge

Photo Attestation Rs. 50

Signature Attestation

Rs. 50


areas)

Address Confirmation Rs. 50

Stop Payment Charges

Particular Cheque - Rs. 50 (Free through

Phonebanking), Range of Cheques - Rs. 100

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(Free through Phonebanking)

Cheque status per instance Rs. 25

Standing Instructions

Setting up Rs. 150, Rs. 25 per transaction

plus remittance charge

Unarranged overdraft Rs. 100 per occasion + 18% interest pa

Cash Delivery (in select cities)

Rs. 50 per delivery subject to max value of

Rs. 1 Lakh

Old records/copy of paid cheques

Upto 1 year - Rs. 50 per record, Above 1

year - Rs. 100 per record

Activation of dormant account Rs. 100

Branch transactions

Free

3 free in the qtr & Rs. 60 per additional

transaction on non-maintenance of Min

balance (cash deposit/withdrawal)

Interbranch transactions through

teller counters - Funds Transfer Free


teller counters - Cash

transactions.

Upto Rs. 50,000/- free per month, Above Rs.

50,000/- Rs 2.90 per 1,000/- on the full

amount.

Third party cash transactions at

non-home branches through teller

counters

Upto a limit of Rs.10,000 per day - Rs.100

(plus taxes). Above Rs.10,000 - Not allowed


home branch through teller Free of charge

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counters

Local Cheque deposited for

outstation accounts No Charge

Phonebanking - IVR Free

Phonebanking - Non IVR

Free

Rs. 50 per call on non maintenance of Min

balance for transactions that are available on

IVR but are done through the PhoneBanking

executive

ATM Card Free

ATM Card - Replacement charges Rs. 100 (plus taxes)

ATM Card - Transaction charge

for Partner banks - SBI & Andhra

Bank

Balance enquiry: Free

& Rs.17.80 (plus taxes) per cash withdrawal


for Non-Partner banks NA

Debit Card - Annual Fee - Regular Rs. 100 per year (plus taxes)

Debit Card - Annual Fee - Gold Rs. 500 per year (plus taxes)

Debit Card - Annual Fee -

Women's Card Rs.100 per year (plus taxes)

Debit Card - Renewal Fee -

Regular Rs. 100 per year (plus taxes)

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Debit Card - Renewal Fee - Gold Rs. 500 per year (plus taxes)



Debit Card - Replacement

charges

Replacement of a damaged card - No

charges & Replacement of a lost card - Rs.

100 (plus taxes) (for all card types)

Debit Card - Transaction Charge -

HDFC Bank ATMs Free


Non HDFC Bank Domestic ATMs




Non HDFC Bank International

ATMs

Rs. 15 per balance enquiry & Rs. 110 per

cash withdrawal (plus taxes)

PIN regeneration charge Rs. 25 (plus taxes)

Decline charge for insufficient

balance

Transactions declined at other Bank ATMs

anywhere in the world or at a Merchant outlet

outside India due to insufficient funds will be

charged at Rs. 25 per transaction (plus

taxes)

Add-on Debit Card - Regular

Rs. 100 per year (plus taxes) - One add-on

card free for the first year

Add-on Debit Card - Gold Card Rs. 500 per year (plus taxes)

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Add-on Debit Card - Women's

Card Rs.100 per year (plus taxes)

Bill Pay Rs. 25 (plus taxes) per qtr per Customer ID

InstaPay Rs. 10 (plus taxes) per transaction

InstaAlert Free

Visa Money Transfer Rs. 20 (plus taxes) per transaction

EFT Charges - Inward NIL

EFT Charges- outward NIL

RTGS - Outward

Rs. 0.25 per 1000 per transaction (Min Rs.

50, Max Rs. 1000) (plus taxes)

RTGS - Inward NIL

Mobilebanking NIL

Netbanking Free

ECS (Debit) Return Charges Rs 200 (plus taxes)

Passbook issuance(at home

branch) Free


2. SAVING PLUS ACCOUNT

This is the best banking option for the customer to open Saving Plus Account with

HDFC Bank. The customers have to maintain an Average Quarterly Balance of Rs.

10,000/- and experience the benefits.

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2.1. FEATUERS & BENEFITS

Wide network of branches and over thousand ATMs to meet all your banking

needs no matter where you are located.

3 Free transactions on SBI/Andhra Bank ATMs per month.

3 Free transactions on any other Bank's ATM per month.

Free International Debit Card for all account holders for life time of the

account.

Free Demand Drafts on HDFC Bank locations, upto a limit of 25,000/- per

day.

Free Bill Pay & InstaAlerts for all account holders for lifetime of the account.

Free Electronic Funds Transfer facility, NetBanking, PhoneBanking &

MobileBanking.

Special relationship discount on purchase of Gold Bars.

25%-off on the Locker rental for the 1st year (only).

Free Passbook facility available at home branch for account holders

(individuals).


ELIGIBILITY



Foreign Nationals residing in India.

If someone is a Foreign National residing in India, he or she may open a

Savings Account by temporarily attaching an undertaking, stating sources of

credit and a copy of your Residence Permit.

http://www.hdfcbank.com/personal/payments/billpay/billpay.htm

http://www.hdfcbank.com/personal/access/instaalerts/insta.htm

http://www.hdfcbank.com/personal/payments/e-monies/emonies.htm

http://www.hdfcbank.com/personal/access/netbanking/netbanking.htm

http://www.hdfcbank.com/personal/access/phonebanking/phonebanking.htm

http://www.hdfcbank.com/applications/misc/mobilebanking.asp

http://www.hdfcbank.com/personal/investments/mudra_gold_bar/mudra_goldbars.htm

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ACCOUNT OPERATION.

A minimum deposit of Rs. 10,000/- is required to open an account and

thereafter an Average Quarterly Amount of the same amount has to be

maintained.

If AQB in the savings a/c is >=10,000/- and/or the balance in the FD is

>=50,000/-, no AQB non-maintenance charges will be levied.

If the AQB in the SB a/c falls below 10,000/- and balance in the FD is also

<=50,000/-, following charges would be applicable:

AQB in the SB a/c between 5,000/- and 10,000: Rs. 750/- per quarter

AQB in the SB a/c is less than 5,000/-:

Thus, if the Savings Plus Account AQB is <10,000/- but FD balance is

>=50,000/-, no minimum balance charges will apply.

Transaction charges applicable in case the specified AQB is not been

maintained in the previous qtr.

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2.3.FEES & CHARGES

Description of Charges Savings Plus Account


Quarterly Balance)

Option 1 Rs. 10000(Urban/Semi-urban)

Option 2 NIL with a Fixed deposit of Rs.

50,000

Charges on non

maintenance thereof

Option 1

AQB in the SB a/c between 5,000/-

and 10,000/-: Rs. 750/- per quarter,

AQB in the SB a/c is less than

5,000/- :Rs. 1,000/-

Option 2

In case of non maintenance of Rs.

50,000 Fixed Deposit the charges

mentioned in Option 1 would be

applicable

Cheque Book Free

Rs. 5 per leaf on non maintenance of Min balance

PAP Cheque book Upto Rs. 50,000 pm - No charges, Above Rs.

50,000 - Rs. 2.90 per 1000 on full amount

Account Statements - Free Monthly statements to be Collected from branch.


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statements

Rs.100 at Branch, Rs.50 per statement through

Phonebanking (Non-IVR) & ATM, Rs.30 per

statement through Netbanking, Phonebanking

(IVR), & Mobilebanking.



Duplicate passbook

issuance Rs 100/-

Managers

Cheques/Demand Drafts-

Issuance/Re-issuance - On

HDFC Bank Locations

Free DDs/MCs per account per month with

maximum of Rs. 25,000 per day


Above Rs.

25,000 &

upto Rs.

50,000


Phonebanking)

Only DD amount upto Rs 100,000

for Preferred & Rs 50,000 for

other customers accepted at

Phonebanking

Above Rs.

50,000 &

upto Rs. 1

Lakh

Rs. 2.50 per 1000 or part thereof

(Min Rs. 150)

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Above Rs. 1

Lakh

Rs. 2 per 1000 or part thereof (Min

Rs. 250 & Max Rs. 5000)


Upto Rs. 1

Lakh

Rs .30+(Corr. Bank charges if

applicable)

Third party

DD upto Rs.

1 Lakh

Rs .30+(Corr. Bank charges if

applicable)

(Third Party Registration required. Customers

registered for Third Party Transfers have a

maximum limit of 5 lakh per cust. id and hence

can issue multiple DDs of 1 lakh upto 5 lacs and

send it to the benefiacry address)



Revalidation

Rs. 50


areas)

Demand Drafts- Issued - On

Non HDFC Bank Locations


Upto Rs. 500 Rs. 10

Above Rs. 500 to

Rs. 1000

Rs. 15

Above Rs. 1000 to

Rs. 5000

Rs. 25

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Above Rs. 5000 to

Rs. 10,000

Rs. 30

Above Rs. 10,000

to Rs. 1 Lakh


thereof

Above Rs. 1 Lakh Rs. 6 per 1000 or part



Clearing Zone Free

Collection of outstation

cheques - our bank

locations


(Branch Locations)

Cheque value Rs. 0 to

Rs. 500 No Charges

Cheque value Rs. 501 &

above

Re. 1 per 1000

(Min Rs. 50)



cheques - other locations

Cheques (MICR) drawn on non-branch locations

with correspondent bank tie-up - 0.40% (Min Rs.

50)

Cheques drawn on non-branch locations with no

correspondent bank tie-up/non-MICR cheques -

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0.65% + Rs. 25 (Min Rs. 50)


Cheque return charges

drawn on us - Local





drawn on us deposited in

other locations

Rs. 75

Cheques deposited -

outward

Rs.50






Account Closure





Signature Attestation Rs. 50


30

areas)







Standing Instructions Setting up Rs. 150, Rs. 25 per transcation plus

remittance charge

Unarranged overdraft NA

Cash Delivery (in select

cities)

Rs. 50 per delivery subject to max value of Rs. 1

Lakh

Old records/copy of paid

cheques

Upto 1 year - Rs. 50 per record, Above 1 year -

Rs. 100 per record

Activation of dormant

account Rs. 100

Branch transactions

Free

3 free in the qtr & Rs. 60 per additional transaction

on non-maintenance of Min balance (cash

deposit/withdrawal)

Interbranch transactions

through teller counters - Free

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Funds Transfer


through teller counters -

Cash transactions

Upto Rs. 50,000/- free, Above Rs. 50,000/- Rs

2.90 per 1,000/- on the full amount.

Third party cash

transactions at non-home

branches through teller

counters

Upto a limit of Rs.10,000 per day - Rs.100 (plus

taxes). Above Rs.10,000 - Not allowed

Third party cash

transactions at home

branch through teller

counters

Free of charge





Free




executive

ATM Card Free

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ATM Card - Replacement

charges Rs. 100 (plus taxes)

ATM Card - Transaction

charge for Partner banks -

SBI & Andhra Bank




charge for Non-Partner

banks

NA


Regular Free for all account holders for life time


Gold Rs. 500 per year (plus taxes)


Women's Card Rs. 100 per year (plus taxes)


Regular NA





Debit Card - Replacement Replacement of a damaged card - No charges &

33

charges Replacement of a lost card - Rs. 100 (plus taxes)

(for all card types)

Debit Card - Transaction

Charge - HDFC Bank ATMs Free


Charge - Non HDFC Bank

Domestic ATMs





International ATMs

Rs. 15 per balance enquiry & Rs. 110 per cash

withdrawal (plus taxes)


Charge - SBI/Andhra Bank

ATMs


2 Free transactions ( Cash Withdrawal ) per

month

Above 2 transactions, Rs.17.80 (plus taxes) per

cash withdrawal


Decline charge for

insufficient balance




charged at Rs. 25 per transaction (plus taxes)

Add-on Debit Card -

Regular Free

34

Add-on Debit Card - Gold

Card Rs. 500 per year (plus taxes)

Add-on Debit Card -


BillPay Free


InstaAlert Free




RTGS - Outward Rs. 0.25 per 1000 per transaction (Min Rs. 50,

Max Rs. 1000) (plus taxes)

RTGS - Inward NIL

Mobilebanking Free

Netbanking Free


branch) Free

Duplicate passbook

issuance Rs 100/-

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3. SAVING MAX ACCOUNT

HDFC Bank welcome everyone to a world of convenience by presenting SavingsMax

account, loaded with maximum benefits to make banking experience a pleasure. By

maintaining an average quarterly balance of just Rs. 25,000/- customer can get a

host of premium services absolutely free.


Free unlimited transactions: Cash withdrawal and balance enquiry, at all

HDFC Bank ATMs & on any other Bank's ATM using HDFC Bank Debit Card.

Free Gold Debit Card for primary account holder for lifetime of the account.

Gold Debit Card for other account holders at Rs 250/- p.a.

Free Woman's Advantage/International Debit Card for all account holders for

lifetime of the account.

Free Payable-at-Par (PAP) chequebook, without any usage charges upto a

limit of 1 lac per month.

Free Demand Drafts on HDFC Bank locations, upto a limit of 50,000/- per day

at home branch.

Self/Third Party Cash Deposit/Withdrawal at non-home branches, upto Rs

50,000/- per day free. Above Rs 50,000 a charge of Rs 2.90 per thousand on

the full amount would be applicable.

Optional sweep out facility to transfer extra savings to a Fixed Deposit, at the

threshold of Rs.50,000/-.In the event of the balance in SavingsMax account

http://www.hdfcbank.com/personal/Cards/Credit_Cards/Gold_Credit_Card/cc_prm_gold.htm

http://www.hdfcbank.com/personal/Cards/Debit_Cards/EasyShop_Womans_Advantage_Debit_Card/dc_women.htm

36

exceeding Rs 50,000/-, the amount in excess of Rs 50,000/- will be swept out

in to a Fixed Deposit with a minimum value of Rs 25000/- for a 1year 1day

period.

Free BillPay & InstaAlerts for all account holders for lifetime of the account.

Free Monthly Statement of Account.

50% off on the Locker rental for the 1st year only.

Folio maintenance charges on Demat account free for first year.

Free National Electronic Funds Transfer facility, NetBanking, PhoneBanking &

MobileBanking.


The following are eligible to open a Saving Max Account.



If you are a Foreign National residing in India, you may open a Savings

Account by temporarily attaching an undertaking, stating sources of credit and

a copy of your Residence Permit.

ACCOUNT OPERATION

A minimum deposit of Rs. 25,000/- is required to open an account and

thereafter an Average Quarterly Balance of the same amount has to be

maintained.

http://www.hdfcbank.com/personal/payments/billpay/billpay.htm

http://www.hdfcbank.com/personal/access/instaalerts/insta.htm

http://www.hdfcbank.com/personal/payments/e-monies/emonies.htm

http://www.hdfcbank.com/personal/access/netbanking/netbanking.htm

http://www.hdfcbank.com/personal/access/phonebanking/phonebanking.htm

http://www.hdfcbank.com/applications/misc/mobilebanking.asp

37

If the AQB in the SavingsMax a/c >= 25,000/- and/or the balance in the FD is

>= 100,000/-, no AQB non-maintenance charges will be levied. If the AQB in

the SavingsMax a/c falls below 25,000/- and balance in the FD is also below

100,000 the following charges would be applicable:

AQB in the SavingsMax a/c between Rs10,000/- and Rs

25,000

Rs. 1000/- per

quarter

AQB in the SavingsMax a/c is less than Rs10,000/- Rs. 1,500/- Qtr.

However, if the SavingsMax a/c AQB is <25,000/- but FD balance is

>=100,000/- no minimum balance charges will apply.

Transaction charges applicable in case the specified AQB is not been

maintained in the previous qtr.

3.3. FEES & CHARGES Description of Charges Saving max account


Quarterly Balance)

Option 1

Rs. 5000 (Urban), Rs. 2500

(Semi-urban)

Option 2

NIL with a Fixed deposit of

Rs. 50,000


thereof

Option 1

Rs. 750 per qtr (Urban &

Semi-urban)

Option 2

In case of non

maintenance of Rs. 50,000

Fixed Deposit - Rs. 750 per

38

qtr (Urban & Semi-urban)

Cheque Book

Free

Rs. 5 per leaf on non maintenance of Min

balance

PAP Cheque book

Upto Rs. 50,000 pm - No charges, Above Rs.




branch.



statements












Upto Rs.

10,000

Rs. 50



Above

Rs.10,000 &

upto Rs.

50,000


Phone banking)



39





Above Rs.

50,000 & upto

Rs. 1 Lakh



Above Rs. 1

Lakh



Rs. 5000)


Upto Rs. 1

Lakh

Rs .30+(Corr. Bank


Third party DD

upto Rs. 1

Lakh

Rs .30+(Corr. Bank





cust. id and hence can issue multiple DDs of


benefiacry address)



Rs. 50


40

Revalidation areas)


HDFC Bank Locations


Upto Rs. 500 Rs. 10

Above Rs. 500

to Rs. 1000 Rs. 15

Above Rs.

1000 to Rs.

5000 Rs. 25

Above Rs.

5000 to Rs.

10,000 Rs. 30

Above Rs.

10,000 to Rs. 1

Lakh


thereof

Above Rs. 1

Lakh




Clearing Zone Free


our bank locations


(Branch Locations)

Cheque value

Rs. 0 to Rs.

500 No Charges

Cheque value

Rs. 501 &


50)

41

above



other locations



0.40% (Min Rs. 50)



cheques - 0.65% + Rs. 25 (Min Rs. 50)



us – Local






Cheques deposited – outward

Rs. 50






42

Account Closure






Rs. 50


areas)













Rs. 1 Lakh





Branch transactions

Free




43





transactions.


50,000/- Rs 2.90 per 1,000/- on the full

amount.


non-home branches through teller

counters

Upto a limit of Rs.10,000 per day - Rs.100

(plus taxes). Above Rs.10,000 - Not allowed


home branch through teller

counters Free of charge





Free




executive

ATM Card Free


44



Bank





Debit Card - Annual Fee - Regular Rs. 100 per year (plus taxes)










charges



100 (plus taxes for all card types)


HDFC Bank ATMs Free





45



ATMs





balance





taxes)







BillPay Rs. 25 (plus taxes) per qtr per Customer ID


InstaAlert Free




RTGS - Outward



RTGS - Inward NIL

Mobilebanking NIL

46

Netbanking Free



branch) Free


4. “NO FRILLS” SAVING ACCOUNT

In an effort to make banking simpler and more accessible customers, HDFC Bank

has introduced the 'No Frills' Savings Account, which offers the customers all the

basic banking facilities. They can even avail of services like NetBanking,

Mobilebanking free of cost.


Access a wide network of branches and over a thousand ATMs across the

country to meet all your banking needs.

Bank conveniently with facilities like Free NetBanking and MobileBanking. Use the Free Electronic Funds Transfer (EFT) facility to transfer funds from

your HDFC Bank account to an account in another Bank at the locations as

specified by RBI. Enjoy Free IVR based Phone Banking. (Agent assisted calls will be charged). Get Free Quarterly Account Statements. Access your account through a Free ATM Card. Enjoy free Cash Deposits at Branch.

47

Free transactions at HDFC Bank ATMs. 1 Free Cash withdrawal per month at

the Branch

Additional Branch Cash withdrawals in the month will be charged @ Rs.50/-

per transaction. Cheque deposits at branches will be free of charge and

without any restrictions.

International Debit Card available only on request at the branch @ Rs. 100/-

p.a. for each applicant.

First Chequebook consisting of 25 leaves free and subsequent cheque books

to be charged at the rate of Rs 5/- per cheque leaf. Take advantage of BillPay, an instant solution to all your frequent utility bill

payments. Instruct for payment over the phone or through the Internet. Enjoy InstaAlerts via e-mails or SMS at nominal charges. Avail facilities like Safe Deposit Locker, Sweep-In and Super Saver on your

account. Free Email Statement facility 4.2. ELIGIBILITY & ACCOUNT OPERATION

The following are eligible to open a 'No Frills' Savings Account:



ACCOUNT OPERATION

No Initial Payment is required to open a 'No Frills' account and No Average

Quarterly Balance needs to be maintenance.

http://www.hdfcbank.com/applications/misc/bannercounter/bannercounter.asp?banname=email_st_hotlink_nofrills_acc

48

ELIGIBILITY CRITERIA Customer can open a No Frills Savings account if he:

Does not have a bank account & has an annual income of less than or equal to Rs.

50,000/- or

Does not have a bank account & is a beneficiary under a Government Welfare

Scheme.

4.3. FEES & CHARGES

Description of Charges No Frills Saving account


Quarterly Balance)

ZERO


thereof NA

Cheque Book

First Chequebook consisting of 25 leaves

free and subsequent cheque books to be

charged at the rate of Rs 5/- per cheque leaf.

PAP Cheque book NA.

Account Statements - Free Monthly statements to be Collected from

49

branch.



statements












Upto Rs.

10,000

Rs. 50



Above

Rs.10,000 &

upto Rs.

50,000


Phone banking)







Above Rs.

50,000 & upto

Rs. 1 Lakh



50

Above Rs. 1

Lakh



Rs. 5000)


Upto Rs. 1

Lakh

Rs .30+(Corr. Bank


Third party DD

upto Rs. 1

Lakh

Rs .30+(Corr. Bank





cust id and hence can issue multiple DDs of


benefiacry address)



Revalidation

Rs. 50


areas)


HDFC Bank Locations


Upto Rs. 500 Rs. 10

Above Rs. 500

to Rs. 1000 Rs. 15

Above Rs. Rs. 25

51

1000 to Rs.

5000

Above Rs.

5000 to Rs.

10,000 Rs. 30

Above Rs.

10,000 to Rs. 1

Lakh


thereof

Above Rs. 1

Lakh




Clearing Zone Free


our bank locations


(Branch Locations)

Cheque value

Rs. 0 to Rs.

500 No Charges

Cheque value

Rs. 501 &

above


50)



other locations



0.40% (Min Rs. 50)

52



cheques - 0.65% + Rs. 25 (Min Rs. 50)



us - Local






Cheques deposited - outward

Rs. 50






Account Closure






Rs. 50


areas)

53













Rs. 1 Lakh





Branch transactions

Free








transactions.


50,000/- Rs 2.90 per 1,000/- on the full

amount.




54


Free




executive

ATM Card Free




Bank





Debit Card - Annual Fee –


Debit Card - Annual Fee – Gold Rs. 500 per year (plus taxes)



Debit Card - Renewal Fee –


Debit Card - Renewal Fee – Gold Rs. 500 per year (plus taxes)



55


charges










ATMs





balance





taxes)







BillPay Rs. 25 (plus taxes) per qtr per Customer ID


InstaAlert Free

56




RTGS - Outward



Netbanking Free


5.INSTITUTIONAL SAVING ACCOUNT

A specially designed account that offers twin benefits of a savings as well as a current

account. Customers continue to earn interest while they enjoy hassle-free banking & a host of

other features.


Zero balance account

Payable at Par chequebook facility Free: You can now use your PAP chequebook at

any of HDFC Bank locations (through Clearing only) without any charge.

Enjoy unlimited DDs on HDFC Bank locations Free.

Carry out cash transactions at any HDFC Bank branch. Third party cash

transactions up to Rs.50,000/ - per day Free.

Get monthly account statements Free.

57

Avail special discounts on Foreign exchange transactions.

Bank from home using our 24-hour NetBanking & PhoneBanking service.

Collect fees, donations online using our Payment Gateway facility.

Invest your surplus funds smartly! Get valuable investment advice from our monthly

newsletter absolutely free.

5.2. ELIGIBILITY

Registered trusts, associations, societies, clubs & such other institutions can apply

for this account.

This is a Zero Balance Account. There is no Average Quarterly Balance (AQB)

requirement.

5.3. FEES & CHARGES

Description of charges Institutional Saving Account


Quarterly Balance) Zero


thereof NIL

PAP Cheque book

PAP Cheque Book Free - issued by default 25 leaves

Free per calendar quarter

58

No charges on usage at HDFC Bank locations.

Account Statements - Free Monthly statements sent by post


statements

Rs.100 at Branch, Rs.50 per statement through Phone

banking (Non-IVR) & ATM, Rs.30 per statement through

Net banking, Phone banking (IVR), & Mobile banking.





Free DDs on HDFC Bank locations without limit

DD request through NetBanking

Upto Rs. 1 Lakh

Free

Corr bank charges

applicable

Third party DD upto Rs. 1

Lakh Free



Revalidation Rs. 50





Upto Rs. 10,000

Rs. 50



Above Rs.10,000 & upto

Rs. 50,000


Phone banking)



59





Above Rs. 50,000 & upto

Rs. 1 Lakh



Above Rs. 1 Lakh



Rs. 5000)


Upto Rs. 1 Lakh

Rs .30+(Corr. Bank charges

if applicable)

Third party DD upto Rs. 1

Lakhs

Rs .30+(Corr. Bank charges

if applicable)

(Third Party Registration required. Customers registered

for Third Party Transfers have a maximum limit of 5 lacs

per cust id and hence can issue multiple DDs of 1 lakh

upto 5 lacs and send it to the benefiacry address)



Revalidation Rs. 50


HDFC Bank Locations


Upto Rs. 500 Rs. 10

Above Rs. 500 to Rs. Rs. 15

60

1000

Above Rs. 1000 to Rs.

5000 Rs. 25


10,000 Rs. 30

Above Rs. 10,000 to Rs. 1

Lakh


thereof

Above Rs. 1 Lakh




Clearing Zone Collection Free. Courier charges (Rs.20/-) applicable

Collection of outstation cheques

- our bank locations Collection Free. Courier charges (Rs.20/-) applicable

Collection of outstation cheques

- other locations

Cheques (MICR) drawn on non-branch locations with

correspondent bank tie-up - 0.40% (Min Rs. 25 per inst)

+ Courier charges (Rs.25/-) applicable


correspondent bank tie-up/non-MICR cheques - 0.40%

(Min Rs. 25 per inst) + Courier charges (Rs.25/-)

applicable


Cheques deposited - outward Rs. 50



61



Account Closure





Signature Attestation Rs. 50




Particular Cheque - Rs. 50

(Free through PhoneBanking

& NetBanking),

Range of Cheques - Rs. 100

(Free through PhoneBanking

& NetBanking)

Cheque status per instance Rs.

25


Setting up Rs. 150, Rs. 25 per transaction plus

remittance charge



cheques

Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100

per record


62

Branch transactions Free





transactions

Cash Deposits upto Rs. 50,000 per day - Free

Cash Withdrawals upto Rs.50,000 per day - Free

Above Rs. 50,000 - Rs. 2.90 per 1000 on the full

amount

Third party cash transaction limit of Rs.50,000 per day -

Free. Above Rs.50,000 - Not Allowed



PhoneBanking - IVR Free

PhoneBanking - Non IVR Free


InstaAlert Free




RTGS – Outward

Rs. 0.25 per 1000 per transaction (Min Rs. 50, Max Rs.

1000) (plus taxes)

Mobilebanking NIL


63

6.KID’S ADVANTAGE ACCOUNT

HDFC bank provides an interesting offer for the parents to for their child today and

secures his/her future. They can do this by opening up a Saving Account and

transfer money into their kids Advantage Account.


Automatically increases the balance in their Kids Advantage Account by

transferring a fixed sum from their Savings Account every month.

Amounts in excess of Rs. 5,000/- over and above a balance of Rs. 10,000/-

gets converted into Fixed Deposits for a specified period in their child's

name.

Free International Debit Card for their child (above 7 years of age) with a

maximum drawing capability of Rs. 2,500/- per day.

Free Education Insurance cover of up to Rs. 1,00,000/- for their child with

every Kids Advantage Account.

Net Banking facility to monitor both, parent’s Savings Account as well as

their Kids Advantage Account.

Free Funds Transfer between parents’ Savings Account and their Kids

Advantage Account.

Opt for systematic Investment in Mutual Funds to plan for their Child’s future.

64

6.2. ELIGIBILITY

Anyone can open a Kids Advantage Account as long as their child is a minor

and they have a Savings Account with HDFC Bank.

If the customer does not have a HDFC Savings Account, he/she will need to

open an account.

6.3. HOW TO OPEN A KID’S ADVANTAGE ACCOUNT

Every parent need to invest a minimum sum of Rs. 10,000/- in the name of

their child as a Fixed Deposit with a minimum term period of 6 months and 1

day. A new Kids Advantage Account that links to this Fixed Deposit will be

opened up in their child's name.

Parents can instruct the bank to transfer a standard amount (min. Rs. 500/-)

from their Savings Account every month to their child's Kids Advantage

Account.

Over a period, when the balance in the Kid's Advantage Account exceeds

Rs.10,000/-, the amount in excess of Rs.5,000 will be transferred into a new

Fixed Deposit, for a specific period in their child's name.

7. PENSION SAVING BANK ACCOUNT

http://www.hdfcbank.com/personal/accounts/fixed_deposits/regular_fixed_deposit/regular_fd.htm

65

A Pension Saving Account is a Zero Balance Account that accumulates

someone’s pension over the years. It comes with a free International Debit Card and

facilities like Phone and Net Banking. The customers can access this Account from

any branch within the HDFC network and also request for transfer to another bank.


The Pension Saving account is a Zero Balance Account.

Timely credit of receivables.

Pension Accounts are transferable from one branch/bank to another.

7.2. ELIGIBILITY

The following are eligible to open to a Pension Saving Bank Account:

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 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.

7.3. PROCEDURE & OPERATION

66

A Pension Salary Account can only be opened in an individual's name.

The account can be opened up to two months before the date of retirement.

The details of employees HDFC Bank Pension Salary Account will have to be

furnished to their employer.

After retirement, the RPFC/CPAO will forward the Pension Payment Order

(PPO) to HDFC Bank’s designated office.

Employee will then receive intimation to complete documentation at the

designated branch.

After the pensioner's portion of the PPO is handed over, the pension will start

getting credited to their account every month.

7.4. FEES & CHARGES

Services Pension product

Minimum Balance NIL


thereof NIL

Cheque Book Free

PAP Cheque book NA



branch.


67


statements










Upto Rs.

10,000

Rs. 50



Above

Rs.10,000 &

upto Rs.

50,000


Phone banking)




100,000 for Preferred &

Rs 50,000 for other

customers accepted at

Phone banking

Above Rs. Rs. 2.50 per 1000 or part

68

50,000 & upto

Rs. 1 Lakh


Above Rs. 1

Lakh


thereof (Min Rs. 250 &

Max Rs. 5000)


Upto Rs. 1

Lakh

Rs .30+(Corr. Bank


Third party DD

upto Rs. 1

Lakh

Rs .30+(Corr. Bank




Transfers have a maximum limit of 5 lacs

per cust. id and hence can issue multiple

DDs of 1 lacs upto 5 lacs and send it to the

benefiacry address)



Revalidation

Rs. 50

Rs. 40 (Senior Citizens / Individuals in

Rural areas)


HDFC Bank Locations Rs. 50 plus charges as outlined below:

69

Upto Rs. 500 Rs. 10

Above Rs. 500

to Rs. 1000 Rs. 15

Above Rs.

1000 to Rs.

5000 Rs. 25

Above Rs.

5000 to Rs.

10,000 Rs. 30

Above Rs.

10,000 to Rs. 1

Lakh


thereof

Above Rs. 1

Lakh




Clearing Zone Free



Revalidation

Rs. 50


areas)


our bank locations


(Branch Locations)

Cheque value

Rs. 0 to Rs.

500 No Charges

70

Cheque value

Rs. 501 &

above


50)



other locations



0.40% (Min Rs. 50)

Cheques drawn on non-branch locations

with no correspondent bank tie-up/non-

MICR cheques - 0.65% + Rs. 25 (Min Rs.

50)



us - Local



Rs. 400 on non-maintenance of Min

balance




Clearing Zone Free

Cheques deposited - outward Rs. 50

71






Account Closure






Rs. 50

Rs. 40 (Senior Citizens / Individuals in

Rural areas)




Phonebanking), Range of Cheques - Rs.

100 (Free through Phonebanking)






Cash Delivery (in select cities) Rs. 50 per delivery subject to max value of

72

Rs. 1 Lakh






Interbank transactions through


Interbank transactions through


transactions. Free


outstation accounts Free



Free

ATM Card Free

ATM Card - Replacement charges NA



Bank


& Rs.17.80 (plus taxes) per cash

withdrawal



73

Debit Card - Annual Fee - Regular Free





Regular Free





charges





HDFC Bank ATMs Free




& Rs.17.80 (plus taxes) per cash

withdrawal



ATMs




74


balance


anywhere in the world or at a Merchant

outlet outside India due to

insufficient funds will be charged at Rs. 25

per transaction (plus taxes)









InstaAlert Rs. 25 (plus taxes) per qtr per account



RTGS - Outward



RTGS – Inward NIL


75

8. FAMILY SAVING GROUP

HDFC Bank provides the Family Saving Group which links together upto four

individual HDFC Bank accounts (same family) under a single group. The family can

take advantage of the group Average Quarterly Balance (AQB) and operate their

individual accounts without worrying about minimum balance.


All account holders can operate their account freely without worrying about

their minimum balance.

Family members with NRI status can also be part of the group.

Each individual can get 5 Free Cash withdrawal transactions on SBI ATMs

per group per month.

Each individual can get upto 2 free DD's/ MC's on HDFC Bank locations per

account per month (max. up to Rs. 25,000/- per instrument per day).

Free International Debit Card for all account holders till the account is part of

the Family group. (NRO Accounts will be issued only ATM cards)

Free Standing Instructions for investment into Mutual Funds.

8.2. ELIGIBILITY

All members of the family should hold individual HDFC Bank accounts.

76

A member of the family with an NRI status can also be part of this group

account.

Not more than 4 members of a family can form a Family Savings Group.

8.3. FEES & CHARGES

Description of Charges Family Saving Group


Quarterly Balance) Rs. 25,000 (Urban & Semi-urban)

Charges on non

maintenance thereof

AQB between Rs. 25,000 & Rs. 10,000 -

Charges of Rs. 1000 per group per qtr.

Charged to the account with the highest

balance.

AQB is less than Rs. 10,000 - Charges of

Rs. 1500 per group per qtr. Charged to the

account with the highest balance.

Cheque Book Free

PAP Cheque book Upto Rs. 50,000 pm - No charges, Above Rs.

77



Monthly statements to be Collected from branch.



statements

Rs.100 at Branch, Rs.50 per statement through

Phone banking (Non-IVR) & ATM, Rs.30 per

statement through Net banking, Phone banking

(IVR), & Mobile banking.



Duplicate passbook

issuance Rs 100/-

Managers

Cheques/Demand Drafts-


2 free DDs/Mcs per account per month with

78

Issuance/Re-issuance - On

HDFC Bank Locations

maximum of Rs. 25,000 per DD per day

Upto Rs. 10,000

Rs. 50


Individuals in Rural

areas)

Above Rs.10,000 & upto

Rs. 50,000


Phone banking)

Rs. 60 (Senior Citizens

/ Individuals in Rural

areas)

Only DD amount upto

Rs 100,000 for

Preferred & Rs 50,000

for other customers

accepted at Phone

banking

79

Above Rs. 50,000 &

upto Rs. 1 Lakh

Rs. 2.50 per 1000 or

part thereof (Min Rs.

150)

Above Rs. 1 Lakh


Upto Rs. 1 Lakh

Rs .30+(Corr. Bank


Third party DD upto Rs.

1 Lakhs

Rs .30+(Corr. Bank


(Third Party Registration required. Customers

registered for Third Party Transfers have a

maximum limit of 5 lakhs per cust. id and hence

can issue multiple DDs of 1 lacs upto 5 lakhs and

send it to the benefiacry address)



Revalidation

Rs. 50


areas)

Demand Drafts- Issued - On

Non HDFC Bank Locations


Upto Rs. 500 Rs. 10


1000 Rs. 15

80


5000 Rs. 25


10,000 Rs. 30

Above Rs. 10,000 to Rs.

1 Lakh


thereof

Above Rs. 1 Lakh




Clearing Zone

Free

Cheque value Rs. 0 to

Rs. 500 No Charges

Re. 1 per 1000 (Min

Rs. 50)

Cheque value Rs. 501 &

above


Cheques (MICR) drawn on non-branch locations

with correspondent bank tie-up - 0.40% (Min Rs.

50)


cheques - other locations


drawn on us - Local


correspondent bank tie-up/non-MICR cheques -

0.65% + Rs. 25 (Min Rs. 50)

81





drawn on us deposited in

other locations Rs. 75

Cheques deposited -

outward Rs. 50





Account Closure





Rs. 50


areas)






82



Setting up Rs. 150, Rs. 25 per transaction plus

remittance charge


Cash Delivery (in select

cities)

Rs. 50 per delivery subject to max value of Rs. 1

Lakh


cheques

Upto 1 year - Rs. 50 per record, Above 1 year -

Rs. 100 per record

Activation of dormant

account Rs. 100




Funds Transfer Free



Cash transactions.


50,000/- Rs 2.90 per 1,000/- on the full amount.





Free

ATM Card Free

ATM Card - Replacement Rs. 100 (plus taxes)

83

charges


charge for Partner banks -

SBI & Andhra Bank




charge for Non-Partner

banks NA














charges

Replacement of a damaged card - No charges &

Replacement of a lost card - Rs. 100 (plus taxes)

(for all card types)

Debit Card - Transaction Free

84

Charge - HDFC Bank ATMs



Domestic ATMs





International ATMs

Rs. 15 per balance enquiry & Rs. 110 per cash

withdrawal (plus taxes)


Decline charge for

insufficient balance




charged at Rs. 25 per transaction (plus taxes)


Rs. 100 per year (plus taxes) - One add-on card

free for the first year

Add-on Debit Card - Gold

Card Rs. 500 per year (plus taxes)

Add-on Debit Card -





RTGS - Outward

Rs. 0.25 per 1000 per transaction (Min Rs. 50,

Max Rs. 1000) (plus taxes)

85


86

Strengths

Right strategy for the right

products.

Superior customer service vs.

competitors.

Great Brand Image

Products have required

accreditations.

High degree of customer

satisfaction.

Good place to work

Lower response time with

efficient and effective service.

Dedicated workforce aiming at

making a long-term career in the

field.

Weaknesses

Some gaps in range for certain

sectors.

Customer service staff need

training.

Processes and systems, etc

Management cover insufficient.

Sectoral growth is constrained by

low unemployment levels and

competition for staff

Opportunities

Profit margins will be good.

Could extend to overseas

broadly.

Threats

Legislation could impact.

Great risk involved

Very high competition prevailing

SWOT ANALYSIS

87

New specialist applications.

Could seek better customer

deals.

Fast-track career development

opportunities on an industry-wide

basis.

An applied research centre to

create opportunities for

developing techniques to provide

added-value services

in the industry.

Vulnerable to reactive attack by

major competitors.

Lack of infrastructure in rural

areas could constrain investment.

High volume/low cost market is

intensely competitive.

88

SAVING ACCOUNT COMPARISION

FEATURES

STANDARDCH

ARTERED

BANK

HDFC

BANK

ICICI

BANK

ABN-AMRO

BANK

KOTAK

MAHIND

RA

Min. balance 10000/- 5000/- 5000/- 10000/- 10,000/-

A/C

maintenance

charges

>5,000 1500/- 750/- 750/- 500/- pm

750/-

+12.36%

stax

>=5,000 to

<7,500 1250/- nil nil 400/- pm nil

>=7,500 to

<10,000 750/- nil nil 300/- pm nil

Quarterly

statement free free free free free

Monthly

statement free free free free free

Pass book free free free free free

cheque book free free free free free

ATM usage free free free free free

BAL. Enquiry free free free 5/- free

cash withdrawal

(abroad) 140/- (per day) N/A N/A 120/- N/A

89

ATMs

Annual fees

nil (1year), 200/-

2nd

1y

free,100/-

2nd

nil(1year),

99/-,2nd 180 per year

free for

life

Replacement

charges 100/- 100/- 200/- 200/- 100/-

Manual cash

withdrawal

100/- (Ind),150/-

(abr) N/A N/A N/A N/A

New password

charges free N/A N/A N/A N/A

Max. withdrawal 20000/- 20000/- 25000/- 50000/- 25000/-

Demand draft

Drawn on our

branches

free

(for2mths),0.10

%

upto10,00

0- Rs.

50/-

Rs.2 per

1,000 50/-

Free-

5L,2.5/-

per1000

Drawn on

correspond

branches Rs.15 per 1,000

upto75,00

0 -Rs.75/-

Rs.5 per

1,000 0.25% N/A

cancellation 250/- 50/- 100/- 50/- 100/-

Lost 250/- N/A 100/- N/A 100/-

Doorstep

banking Selected cities N/A N/A Available Available

Phone banking Available Available Available Available Available

90

Net banking Available Available Available Available(fr) Available

Cheque return

Cheque issued

by customer 300/- 350/- 350/- 350/- 300/-

cheque

deposited by

customer 100/- 50/- 75/- 100/- 300/-

Outstation

cheque collection

free at our

branch

1/-

pe1,000,

mi 50/-

125/-

+Oth.bank

.chq 0.25%

free at

our

branches

Stop payment 100/- 50/-

50/- per

chq 100/- 100/-

ECS 250/- 200/- 200/- 100/- N/A

A/C closed < 6

months 500/-

15 days-

6mths-

100/- 250/- 500 if <1year 600/-

Add-on a/c debit

card N/A N/A

only on

request 180/- N/A

A Comparative Analysis of Customer Satisfaction Levels of AXIS, HDFC and

ICICI Bank

Introduction-

91

The study intends to compare the satisfaction levels of three private sector banks

namely Axis Bank, HDFC Bank and ICICI Bank. This research paper looks at the key

issue of service quality and nature of service quality delivered to satisfy the

customers of these banks.

Objective-

To study the satisfaction level of consumers of three chosen banks.

To identify the perception of consumer about their banks with comparison to

others banks.

Recommendations to increase customer satisfaction level.

Research Methodology-

Descriptive Research

Primarily based on Primary Data collection

Follow Questionnaire method

Quantitative Research

Non Probabilistic- convenience sampling

Sampling-

Sampling Unit: The sampling units selected were all above 18 years of age

with diverse socio- economic background.

92

Sampling Technique: Samples were selected by way of convenient sampling

and questions were asked to the respondents when they were coming out of

their respective banks after availing the services there.

Sample Size-

A total sample size of 120 was selected which had the following break up:

AXIS bank customers: 40

HDFC bank customers: 40

ICICI customers: 40

DATA Analysis Methodology-

(1) Tangibles. Physical facilities, equipment and appearance of personnel.

(2) Reliability. Ability to perform the promised service dependably and accurately.

(3) Responsiveness. Willingness to help customers and provide prompt service.

(4) Assurance (including competence, courtesy, credibility and security).

Knowledge and courtesy of employees and their ability to inspire trust and

confidence.

(5) Empathy (including access, communication, customer). Caring and

individualized attention that the firm understanding the provides to its customers.

Question 1-5

Your bank uses up to date equipments.

.The physical facilities in your bank are visually appealing.

93

The employees appear neat and well dressed.

Materials associated with service (e.g. - withdrawal and deposit forms etc.)

are easy to use and visually appealing.

Your bank has convenient business hours.

Name of Bank Customer experience.

AXIS 5.5

HDFC 5.7

ICICI 5.7

5.5

5.7 5.7

5.4

5.45

5.5

5.55

5.6

5.65

5.7

Customer

Experience

AXIS

HDFC

ICICI

Question 6-10

Your bank promises to do something by a certain time, it does so.

When you have a problem, your bank shows sincere interest in solving it.

94

Your bank performs service right at the first time.

Your bank should keep the records accurately.

Your bank keeps you informed about when a service will be performed.

Name of bank Customer experience

AXIS 5.7

HDFC 6.5

ICICI 5.4

5.7

6.5

5.4

0

1

2

3

4

5

6

7

Customer experience

AXIS

HDFC

ICICI

Questions 11-13

Employees of your bank give you prompt service.

95

The employees of your bank always willing to help you.

The employees of your bank are never too busy to help you.


AXIS 5.5

HDFC 5.9

ICICI 5.9

5.5

5.9 5.9

5.3

5.4

5.5

5.6

5.7

5.8

5.9

Customer experience

AXIS

HDFC

ICICI

Questions 14-17

The employees of your bank are trustworthy.

96

You feel safe while doing transactions with your bank.

The employees of your bank are courteous.

The employees of your bank have the knowledge to answer your questions.


AXIS 5.4

HDFC 6

ICICI 5.5

5.4

6

5.5

5.1

5.2

5.3

5.4

5.5

5.6

5.7

5.8

5.9

6

Customer experience

AXIS

HDFC

ICICI

Questions 18-21

97

Your bank gives you individual attention

Your bank has employees who give you individual attention.

Your bank has your best interest at heart.

Employees of your bank understand you specific needs.


AXIS 6.5

HDFC 6

ICICI 7

6.5

6

7

5.4

5.6

5.8

6

6.2

6.4

6.6

6.8

7

Customer experience

AXIS

HDFC

ICICI

Conclusion

98

The expectations of HDFC and ICICI customers are quiet high while that of

AXIS bank customers is quiet low.

The perceived performance of the customers shows that the performance of

ICICI and HDFC in terms of service is better than AXIS Bank.

In order to keep a customer satisfied a bank must identify the value the

customer appoints to every item in each dimension, and then the focus should

be given in order of that value.

99

BIBLIOGRAPHY

The following sources have been referred to while making the project:

Websites referred-

http://www.hdfc bank.com

http://en.wikipedia.org/wiki/hdfcbank

http://www.google.com

Documents

Saving account offerings of hdfc bank