COMPARATIVE STUDY OF FINANCIAL PRODUCTS (CASA) IN BANKING INDUSTRY

Banking industry has been playing a crucial role in providing financial solution to the common people. Different banks have designed innumerable financial products for the general customer needs. Saving bank account and current account are the most frequently used products offered by the banks. Hence it is in due for the banks to provide benefits to customers who seeks their services.

ING Vysya bank also provides services related to saving account and current accounts. The comparative study will provide related information about the services provided by the other comparative banks. hence it would help ING Vysya banks to project its self in an better way in the market scenario it would be also be helpful in terms of modifying their product according to customer needs.

INTRODUCTION

OBJECTIVES OF THE STUDY

1. To project CASA as the ‘productive avenue’ for saving activities2. To show the low range of savings options available in banks by explaining its various schemes.3. To compare the facilities based on banks provided and show which scheme is best for the savings based on his income factor.4. To help a customers make a right choice of reserve for their money, while considering the interest rates, features and charges applied.

RESEARCH DESIGN

Sample sizeThe questionnaire survey was done among 100 respondents in the city of Brahmapur. The respondent from different age, sex and profession were considered. The sample size is a representation of the universe.

MethodologyData for this study was collected from two types of sources.

RESEARCH METHODOLOGY

Data collection methodsMainly the data collected were from primary and secondary methods of data collection. The primary method was through a questionnaire. The secondary data collection methods included data from existing records, internet and office database.

Data tabulationThe data collected were tabulated as per the response so as to analyse them in the most suitable manner.

ANALYSIS

The analysis of the tabulated data is done by incorporating the data into the chart types. The charts used are convenient to study the responses obtained from the survey.

The analysis of a few questions from the questionnaire has been shown below.

Details Charges/features

Minimum Balance Requirement 5000/-

Quarterly service charges for Non maintenance of QAB

600/-

ATM Free charge if withdraw from any bank

Cheque book issues FreePAP Cheques - Free

ING VysyaDetails Charges/features

Minimum Balance Requirement 10,000/-


/-

ATM Free charge if withdraw from any bank

Cheque book issues FreePAP Cheques - Free

ICICI bank

1. Comparison on services and charges of savings account in different banks

Details Charges/featuresMinimum Balance Requirement

10,000/-


Rs. 750

ATM withdrawal transaction per month at Non-HDFC Bank ATM. Additional transaction done at Non-HDFC Bank ATM - Rs 20/- per transaction.Per transaction limit will be Rs 10,000/-

Cheque book issues Free - 25 cheque leaves per calendar quarterAdditional chequebook of 25 leaves

HDFC bank.Details Charges/features

Minimum Balance Requirement

5,000/-


Rs. 750

ATM Additional transaction done at Non-IDBI Bank ATM - Rs 20/- per transaction.Per transaction limit will be Rs 10,000/-


IDBI bank

Among these saving account ING Vysya is the best bank and with minimum balance of 5000/- and don’t have any charges for using of ATMs in other banks.



Rs.10,000


Rs. 750

ATM FREE and Rs.20/- per Cash withdrawal in other banks


Additional Statement Rs 200 per statement

ING VysyaDetails Charges/features


Rs.20,000


Rs. 750

ATM Rs.20/- per Cash withdrawal in other banks

Cheque book issues Free - 25 cheque leaves per calendar quarterAdditional chequebook of 25 leavesCharge for free every cheque transaction


ICICI bank

2. Comparison on services and charges of current account in different banks



Rs.10,000


Charge of Rs.750/- per quarter

ATM Rs.250/- p.a.

Cheque book issues Charges Rs 2/- per leaf


Issue of Demand Drafts (DD) / Duplicate DD

Rs.2.00 per Rs.1000/- Minimum Rs.50/-



Rs 5,00,000


Charge of Rs.750/- per quarter

ATM Free

Cheque book issues Rs 200 for every transaction


Issue of Demand Drafts (DD) / Duplicate DD

Free

IDBI bankHDFC bank.

Among these current account HDFC bank is the best bank and with minimum balance of 10,000/- and feature which is available is best for every business man

ING Vysya HDFC ICICI IDBI0%

10%20%30%40%50%

49%

17%

30%

4%

Chart Title

Are you a customer of these banks

30% of the respondents had a primary bank account of ICICI,17% of the respondents had a primary bank account of HDFC49% of the respondents had a primary bank account of ING Vysya04% of the respondents had a primary bank account of IDBI

HDFC ICICI ING IDBI0

1020304050607080 Trustworthy

Aspiration

Easy to deal with

CUSTOMER friendly

Speedy process

Delivers on Promises

HDFC bank came across as the most Easy to deal with Bank, followed by Customer friendly.

ICICI Bank came across as the most Customer Friendly bank followed by Easy to deal with.

ING Vysya came across as trustworthy bank followed by delivers on promises.

IDBI is still required for development in customer relations.

Once a week Twice a week Once in a month others0%

10%

20%

30%

40%

50%

60%

70%

80%

7%2%

49%42%

69%

25%

5%1%

branchATMS

BRANCHES49% of the respondents said they visited the branches once a month7% of the respondents said they visited the branches once a week2% of the respondents said they visited the branches twice a week42% of the respondents said they visited the branches others (greater than one month) ATMS69% of the respondents said they visited the ATMs once a week25% of the respondents said they visited the ATMs twice a week5% of the respondents said they visited the ATMs once a month1% of the respondents said they visited the ATMs

3.How often do you visit the bank branches and ATMs ?

FINDINGS

ING Vysya bank is trust worthy bank as it is oldest bankThere are less number of student customer in this bankThere are more customers who are using ATMS for transaction.There are more number of salary based customer.As there is no ATM charges for using in other banks ATM

• As there are more customer for ATMS so do concentrate on having more ATM counters in this city.• It also gives a reputation for banks.• It will also attract more customers.• The bank maintain your customer as you are having large number of customers• The bank need to target more student customers by offering accounts with minimum balance of Rs 100

SUGGESTIONS

CONCLUSION

After interpreting the above data the performance of deployed schemes also plays a major role for the investor to make the decision of savings. The return of the scheme itself is not sufficient in order to know where to have an account But the return with features is also useful for an investor to decide upon opening the accounts in banks

COMPARATIVE STUDY OF FINANCIAL PRODUCTS (CASA) IN BANKING INDUSTRY

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