A Project Report on COMPARATIVE STUDY OF SALARY ACCOUNTS OF VARIOUS BANKS AT ICICI BANK

COMPARATIVE STUDY OF SALARY ACCOUNTS OF VARIOUS BANKS AT ICICI BANK

OVERVIEW:-

ICICI Bank is India's second-largest bank with total assets of about Rs.1, 67,659 crore

at March 31, 2005 and profit after tax of Rs. 2,005 crore for the year ended March 31, 2005

(Rs. 1,637 crore in fiscal 2004). ICICI Bank has a network of about 560 branches and

extension counters and over 1,900 ATMs. ICICI Bank offers a wide range of banking products

and financial services to corporate and retail customers through a variety of delivery channels

and through its specialized subsidiaries and affiliates in the areas of investment banking, life

and non-life insurance, venture capital and asset management. ICICI Bank set up its

international banking group in fiscal 2002 to cater to the cross border needs of clients and

leverage on its domestic banking strengths to offer products internationally. ICICI Bank

currently has subsidiaries in the United Kingdom, Canada and Russia, branches in Singapore

and Bahrain and representative offices in the United States, China, United Arab Emirates,

Bangladesh and South Africa.

ICICI Bank's equity shares are listed in India on the Stock Exchange, Mumbai and the

National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are

listed on the New York Stock Exchange (NYSE). As required by the stock exchanges, ICICI

Bank has formulated a Code of Business Conduct and Ethics for its directors and employees.

At April 4, 2005, ICICI Bank, with free float market capitalization* of about Rs. 308.00

billion (US$ 7.00 billion) ranked third amongst all the companies listed on the Indian stock

exchanges.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial

institution, and was its wholly owned subsidiary. ICICI's shareholding in ICICI Bank was

reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in

the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of

Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by

Babasabpatilfreepptmba.com Page 1


ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the

initiative of the World Bank, the Government of India and representatives of Indian

industry. The principal objective was to create a development financial institution for providing

medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI

transformed its business from a development financial institution offering only project finance

to a diversified financial services group offering a wide variety of products and services, both

directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI

become the first Indian company and the first bank or financial institution from non-Japan Asia

to be listed on the NYSE.

After consideration of various corporate structuring alternatives in the context of the

emerging competitive scenario in the Indian banking industry, and the move towards universal

banking, the managements of ICICI and ICICI Bank formed the view that the merger of ICICI

with ICICI Bank would be the optimal strategic alternative for both entities, and would create

the optimal legal structure for the ICICI group's universal banking strategy. The merger would

enhance value for ICICI shareholders through the merged entity's access to low-cost deposits,

greater opportunities for earning fee-based income and the ability to participate in the

payments system and provide transaction-banking services. The merger would enhance value

for ICICI Bank shareholders through a large capital base and scale of operations, seamless

access to ICICI's strong corporate relationships built up over five decades, entry into new

business segments, higher market share in various business segments, particularly fee-based

services, and access to the vast talent pool of ICICI and its subsidiaries. In October 2001, the

Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its

wholly owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI

Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of

ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March

2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April



2002. Consequent to the merger, the ICICI group's financing and banking operations, both

wholesale and retail, have been integrated in a single entity. Free float holding excludes all

promoter holdings, strategic investments and cross holdings among public sector entities.

HISTORY OF ICICI BANK

HISTORY OF ICICI

1955 : The Industrial Credit and Investment Corporation of India Limited (ICICI)

incorporated at the initiative of the World Bank, the Government of India and

representatives of Indian industry, with the objective of creating a

development financial institution for providing medium-term and long-term

project financing to Indian businesses. Mr.A.Ramaswami Mudaliar elected as

the first Chairman of ICICI Limited

: ICICI emerges as the major source of foreign currency loans to Indian

industry. Besides funding from the World Bank and other multi-lateral

agencies, ICICI also among the first Indian companies to raise funds from

International markets.



1956 : ICICI declared its first Dividend at 3.5%.

1958 : Mr.G.L.Mehta was appointed the 2nd Chairman of ICICI Ltd.

1960 : ICICI building at 163, Back bay Reclamation was inaugurated.

1961 : The first West German loan of DM 5 million from Kredianstalt was obtained

by ICICI.

1967 : ICICI made its first debenture issue for Rs.6 crore, which was oversubscribed.

1969 : First two regional offices in Calcutta and Madras were opened.

1972 : Second entity in India to set-up merchant banking services.

: Mr. H. T. Parekh appointed as the third Chairman of ICICI.

1977 : ICICI sponsors the formation of Housing Development Finance Corporation.

Managed its first equity public issue

1978 : Mr. James Raj appointed as the fourth Chairman of ICICI.

1979 : Mr.Siddharth Mehta appointed as the fifth Chairman of ICICI.

1982 : Becomes the first ever Indian borrower to raise European Currency Units.

: ICICI commences leasing business.

1984 : Mr. S. Nadkarni appointed as the sixth Chairman of ICICI.

1985 : Mr.N.Vaghul appointed as the seventh Chairman and Managing Director of

ICICI.

1986 : ICICI first Indian Institution to receive ADB Loans. First public issue by an

Indian entity in the Swiss Capital Markets.

: ICICI along with UTI sets up Credit Rating Information Services of India

Limited, (CRISIL) India's first professional credit rating agency.

: ICICI promotes Shipping Credit and Investment Company of India Limited.

(SCICI)

1987 : ICICI signed a loan agreement for Sterling Pound 10 million with



Commonwealth Development Corporation (CDC), the first loan by CDC for

financing projects in India.

1988 : ICICI promotes TDICI - India's first venture capital company.

1993 : ICICI sets-up ICICI Securities and Finance Company Limited in joint venture

with J. P. Morgan.

:

ICICI sets up ICICI Asset Management Company.

1994 : ICICI sets up ICICI Bank.

1996 : ICICI becomes the first company in the Indian financial sector to raise GDR.

: ICICI announces merger with SCICI.

: Mr.K.V.Kamath appointed the Managing Director and CEO of ICICI Ltd

1997 : ICICI was the first intermediary to move away from single prime rate to three-

tier prime rates structure and introduced yield-curve based pricing.

: The name "The Industrial Credit and Investment Corporation of India Limited

" was changed to "ICICI Limited".

: ICICI announces takeover of ITC Classic Finance.

1998 : Introduced the new logo symbolizing a common corporate identity for the

ICICI Group.

: ICICI announces takeover of Anagram Finance.

1999 : ICICI launches retail finance - car loans, house loans and loans for consumer

durables.

: ICICI becomes the first Indian Company to list on the NYSE through an issue

of American Depositary Shares.

2000 : ICICI Bank becomes the first commercial bank from India to list its stock on



NYSE.

: ICICI Bank announces merger with Bank of Madura.

2001 : The Boards of ICICI Ltd and ICICI Bank approved the merger of ICICI with

ICICI Bank.

2002 : Moodys' assign higher than sovereign rating to ICICI.

: Merger of ICICI Limited, ICICI Capital Services Ltd and ICICI Personal

Financial Services Limited with ICICI Bank

2004: ICICI is implementing 5’s namely SORTING, SYSTEMATIC, SPIC-N-

SPAN, STANDARDIZE, SELF DESCIPLINE for housing keeping



BOARD MEMBERS

Mr. N. Vaghul, Chairman

Mr. Uday M. Chitale

Mr. Sridar Iyengar

Mr. Lakshmi N. Mittal

Mr. Anupam Puri

Mr. Vinod Rai

Mr. Somesh R. Sathe

Mr. M.K. Sharma

Mr. P.M. Sinha

Prof. Marti G. Subrahmanyam

Mr. T.S.Vijayan

Mr. V. Prem Watsa

Mr. K.V. Kamath, Managing Director & CEO

Ms. Lalita D. Gupte, Joint Managing Director

Ms. Kalpana Morparia, Deputy Managing Director

Ms. Chanda Kochhar, Executive Director

Dr. Nachiket Mor, Executive Director



INVESTOR RELATIONS

ICICI Bank disseminates information on its operations and initiatives on a regular

basis. The ICICI Bank website serves as a key investor awareness facility, allowing

stakeholders to access information on ICICI Bank at their convenience. ICICI Bank's dedicated

investor relations’ personnel play a proactive role in disseminating information to both analysts

and investors and respond to specific queries.

Please address queries relating to ICICI Bank's operational and financial performance to:

Rakesh Jha / Anindya Banerjee

ICICI Bank Limited

ICICI Bank Towers

Bandra Kurla Complex

Mumbai - 400 051

INDIA

INVESTOR SERVICES

ICICI Infotech provides investor services to ICICI Bank's shareholders and

bondholders. For any share-related queries, please call ICICI Infotech at +91-22-5592 8000.

For any bond-related queries, please call ICICI Infotech's 24-hour automated phone log-in at

+91-22-2830 7777.



If you have any queries about Investor Services please write to us, or contact:

Mr. Padmanabhan Iyer

International Infotech Park

Tower 5, 4th Floor

Navi Mumbai 400 705

Maharashtra

SOCIAL INITIATIVES

ICICI Bank's social sector initiatives aim to resolve some of the most fundamental

developmental problems facing India today. Our involvement is primarily in terms of non-

commercial support to fill knowledge and practice gaps in specific thematic areas— Early

Child Health, Elementary Education and Micro Financial Services.

Bring together participants in the development process to widen and deepen the

discourse informing development practice. Interactive features include discussion

boards and facilities to post papers, articles or other resources.

Publish research related to innovations and significant problems within the identified

thematic areas.

Enable online application for funding.

FOCUS AREAS

The SIG has three focus areas:

Early Child Health

Elementary Education

Micro Financial Services



ICICI BANK AND THE SOCIAL SECTOR

The changed economic climate in India, with a growing emphasis on the market, has

hastened the need for an informed and participatory socio-economic order. As one of the

largest players in the economic landscape of the country, ICICI Bank believes that its

involvement in the commercial sector must be backed by a simultaneous commitment in the

social sector. This is particularly so if any of the larger goals of economic liberalisation in

India, and of its players, is to be brought to fruition. ICICI Bank seeks to perform its role in the

social sector through a dedicated not-for-profit group, the Social Initiatives Group (SIG).

RISK MANAGEMENT

Risk is an inherent part of ICICI Bank’s business, and effective Risk Compliance & Audit

Group is critical to achieving financial soundness and profitability. ICICI Bank has identified

Risk Compliance & Audit Group as one of the core competencies for the next millennium. The

Risk Compliance & Audit Group Group (RC & AG) at ICICI Bank benchmarks itself to

international best practices so as to optimise capital utilisation and maximise shareholder value.



With well defined policies and procedures in place, ICICI Bank identifies, assesses, monitors

and manages the principal risks

Credit risk (the possibility of loss due to changes in the quality of counterparties)

Market Risk (the possibility of loss due to changes in market prices and rates of

securities and their levels of volatility)

Operational risk (the potential for loss arising from breakdowns in policies and

controls, human error, contracts, systems and facilities)

AWARDS AND RECOGNITION FOR ICICI BANK

ICICI BANK

2005

" Triple AAA Best Cash Management Country Award in India" by The Asset

2004

"Best Bank in India" by Euromoney

"Best High-Yield Borrower in India" by Euromoney

"India's Most Customer Friendly Bank" by Outlook Money

"Best Bank" by Business India

"India Derivative House of the Year" by AsiaRisk

"Best Consumer Internet Bank in India" by Global Finance



"Best Corporate / Institutional Internet Bank in India" by Global Finance

"Most Challenging IT Implementation Award" for the ICICI Bank EAI project by PC

Quest

"Best Domestic Commercial Bank" in India by Asiamoney

"Best Emerging Market Bank in India" by Global Finance

"Best Domestic Fx Bank in India" by Asiamoney Poll

"Best Bank of the Year in India" by Finance Asia

"Best Retail Bank in India" by Asian Banker

"Best Foreign Exchange Bank in India" by Global Finance

"India's Most Admired Private Sector Bank" by Business Barons

2003

"Best Bank of the Year in India" by Finance Asia

"The Asian Banker Excellence in Retail Financial Services Program" by The Asian

Banker

"Best Bank Domestic Commercial Bank in India by Asia money

"Best Emerging Market Bank in India" by Global Finance Magazine

"Best Multi-Channel Strategy 2003' award by The Banker Magazine, UK.

"Bank of the Year in India" by The Banker

Grand Prize Winner in Peak Workload, Unix Environments, OLTP in Winter Corp.'s

Top Ten Program

DM Review Magazine-World Class Solution Award 2003 in the Business Intelligence

category for its Tera data enterprise data warehouse solution.



"Best Consumer Internet Bank in India" by Global Finance magazine

"Best Integrated Consumer Bank Site in the Asia /Pacific Region" by Global Finance

"Best Foreign Exchange Bank in India" by Global Finance

"Best Trade Finance Bank in India" by Global Finance

2002

Bank of the Year from the Emerging Markets by The Banker Magazine of UK

Bank of the Year 2002, in India, by The Banker Magazine of UKBest Managed Bank in

Asia, in a Poll by Euromoney

India's top 5 most respected companies - Business World magazine

Best Bank in India by Global Finance

India's Most Admired Bank 2002 in the BB-TN Sofres Mode Poll

'Best Foreign Exchange Bank in India' by Global Finance.

'Excellence in Retail Banking' award by Asian Bankers Journal

Best Consumer Internet Bank in India by Global Finance

Best Bank in India by Global Finance

2001

Best Retail Bank in India from the Asian Banker

Product Innovation Award for Kid-e-bank account from the Asian Banker.

India's top 5 most respected companies, Business World Magazine

2000

Best Bank Award by Global Finance.



I-payment was selected as a finalist in the commercial credit product or services

category in the Asian Banking Awards

Featured amongst the best 15 bank web sites in the world reviewed by Forbes Global.

ERSTWHILE ICICI LTD

2002



Ranked Third 'Best Employer' in a Campus track study amongst the students of the best

business school in India conducted by ORG-MARG.

2001

Mr.K.V.Kamath, MD and CEO won the Asian Business leader Award organized by

CNBC Asia Pacific and TNT.

Indian Express Marketing Excellence Award for "Most recalled advertisement on

television".

20th Century Achievement Award for distinguished service to the cause of

Development Financing and promoting national economic development by ADFIAP

( Association of Development Financial Institutions of Asia Pacific)

'Best Presented Accounts' by the Institute of Chartered Accountants of India for the

third year running.

Ranked fifth in the survey of India's Most Respected Companies, conducted by

Business World and IMRB.

2000

'Best CEO' for innovative HR practices to Mr. Kamath by World HRD Congress.

National HRD Network Award 2000 for innovative HR practices.

'Rio Tinto Award for Long-term Commitment' by 'Worldaware' an UK -based charity

organization, for companies showing strong commitment to development.

Fourth leading Company of India - Far Eastern Economic Review

Fourth best company to work for in India - in the Hewitt Associates and Business

Today survey.



PRESS KITS

ICICI Securities and Finance Company Limited

- leading Investment bank of India.

ICICI Venture Funds Management Company Limited

- India's largest venture capital company.

ICICI Prudential Life Insurance Company Limited

- leading private life insurance company of India.

ICICI Lombard General Insurance Company Limited

- private general insurance provider.

ICICI Home Finance Company Limited

- a customer friendly housing finance company.



SAVINGS ACCOUNTS

FEATURES

The ICICI Bank Ncash debit card is a debit-cum-ATM card providing you with the

convenience of acceptance at merchant establishments and cash withdrawals at ATMs.

Auto Invest Account

Internet Banking is offered free of cost.

Anywhere Banking - This facility entitles the account holder to withdraw or deposit

cash upto a limit of Rs.50,000 across all ICICI Bank branches.

You can give us various types of standing instructions like transferring to fixed deposit

accounts at regular intervals.

An average quarterly balance of Rs 5,000 only.

Nomination facility is available.

Interest is payable half-yearly.

Minimum Balance

Type of Account Balance

Savings Account Rs 5,000

Non-maintenance of the minimum average quarterly balance attracts a fee of Rs 750 per

quarter.



SPECIAL SAVINGS ACCOUNT

FEATURES

Operating account with free multi city Cheque book facility.

A saving account which offers facility to sweep balances above Rs.25,000 in multiples

of Rs.5,000 to a fixed deposit for 1 year.

We trust totally your commitment to the account and the relationship and do not

prescribe any minimum balance requirement. In other words, there is no penalty for

non-maintenance of minimum balances in the accounts.

Internet Banking

Free Anywhere banking

Free collection of outstation cheques

Free monthly account statements

Payroll processing for employees of the organization through ICICI Bank Salary

Accounts

Inward remittance through Money2India for FCRA approved trusts



SENIOR CITIZEN SERVICES

FEATURES

Higher Interest Rates.

Demand Loan / overdraft against deposits will be upto 90% of the deposit.

The upcountry cheque collection facility for locations with ICICI Bank presence free of

charge to the Senior Citizen customers.

The ICICI Bank Ncash debit card is a debit-cum-ATM card providing you with the

convenience of acceptance at merchant establishments and cash withdrawals at ATMs.

Auto Invest Account

Internet Banking is offered free of cost.

Anywhere Banking - This facility entitles the account holder to withdraw or deposit

cash upto a limit of Rs.50,000 across all ICICI Bank branches.

You can give us various types of standing instructions like transferring to fixed deposit

accounts at regular intervals.

An average quarterly balance of Rs 5,000 only.

Nomination facility is available.

Interest is payable half-yearly.



GENERAL BANKING

Every business requires efficient banking facili ties to support i ts

business activit ies. ICICI Bank offers premium quality service, unfolding a

wide array of class products. With our technology leadership and service we

are able to meet some of the most challenging financial needs of clients. Some

of our General Banking products like Current Account, Roaming Current

Account, Made2Order current account, Escrow Account Service, Fixed

Deposits, Real Time Gross Settlement (RTGS) system, Cheque Referral

Process and Salary Account have a host features to suit the needs of different

client segments.

What is Current account?

A running account supporting unlimited withdrawals and deposits

A current account is meant for convenience and not to save money

Who needs a Current Account?



Businessman, Joint stock companies, Institutions, Public authorit ies,

public corporations etc. Any business that has numerous banking

tranactions need a current account

Benefits of current account

Unlimited Withdrawal and Deposit

Unlimited Cheque book

Demand Drafts and Payorders

Funds Transfer ( Local or Anywhere)

Collection of Cheques/ Drafts

Statements,Advices, Daily statement by e-mail

Cash withdrawal and Deposits

Call center

Internet Banking

Added features of Current Account

Multicity Cheque payment facili ty at over 155 centers

Anywhere Banking facili ty

Doorstep Banking - Pick up and delivery of Currency / Cheque Mobile

Banking

What is Made 2 Order current account?

Made2order current account, unlike the normal current account which is

based on the quarterly balance, allows the customer to have customized current

account based on the business requirement. The made2order current account is

totally flexible and can be adapted to changing business requirement, without



having the requirement to Current Accounts have specific requirement of

Quarterly Average Balance (QAB) maintenance and in turn offer various

facilit ies free of cost to the customer based on the QAB.

A personalized schedule of charges is derived for each customer based on:

Service Required

QAB as agreed to be maintained in the account

Float expected in the account

The m2o customers based on the services required maintain the required QAB

or pay scaleable volume driven fees for the services utilized

Some of the other facilities offered under made2order current account are as mentioned below

Multi City Cheque Facility Anywhere Banking Facility Upcountry Cheque Collection Pay Orders and Demand Drafts Corporate Care Service Doorstep Banking Facili ty Internet Banking Facili ty Debit/ ATM Card Mobile Banking More Useful Facilities

ROAMING CURRENT ACCOUNT

Only Roaming Current Account from ICICI Bank travels the distance with your

business. With advanced technological features such as MCC and LCC, your banking needs

are well taken care of. You can access your accounts at over 500-networked branches across

the country.



So while you take care of your business, let ICICI Bank’s Roaming Current Account

simplify banking for you.

PRODUCT FEATURES: -

Choose your account

Multi City Cheque Facility

Anywhere Banking acili ty

Upcountry Cheque Collection

Pay Orders and Demand Drafts

Phone Banking Facili ty*

Doorstep Banking Facili ty

Internet Banking Facili ty

Debit/ ATM Card

Mobile Banking

More Useful Facilities

CHEQUE REFERRAL PROCESS

ICICI Bank offers a cheque referral process, for cheques issued by the corporate customers,

which could not be cleared as they are technically deficient. The cheque referral process would

enable customers to authorise clearing of cheques after being duly authenticated by the Bank.

The referral process would cover only the following six technical reasons:

Title of account required: Refers to the company stamp that must

accompany the signature of a director/ authorized signatory

Drawer's signature incomplete/ differs/ required



Alteration in date/ figures/ words requires drawer's full signature

Post-dated

Out of date

Amounts in words and figures differ

The technical reasons beyond the six reasons specified above would be

rejected by the Bank

A customer can register for technical cheque referrals by submitting the

application form for “Phone Banking with Cheque Referrals”. The process flow

for referring and approving such cheques would be as follows:

ICICI Bank would send an SMS/email alert to the customers registered

for “Phone Banking with Cheque Referrals”.

The authorised user/s of the corporate calls the Bank and after

authentication based on TPIN and CRN, gives confirmation for

approving the cheque.

Based on the decision given by the client, ICICI Bank would take appropriate

action.

FIXED DEPOSIT

Wouldn't you like a Fixed Deposit that allows you to deposit your money for just as

long as you wish? Our Fixed Deposit allows you just that - deposits can be opened for periods

ranging from 15 days to 10 years



OTHER FEATURES INCLUDE:

Choice of two investment plans:

TRADITIONAL

Interest payable monthly, quarterly or half-yearly as per your convenience

Maturity period ranges from 15 days to 10 years.

REINVESTMENT

Interest is compounded quarterly and reinvested with principal amount

Maturity period ranges from 6 months to 10 years

MINIMUM BALANCE

You can avail of ICICI Bank Fixed Deposits for a minimum deposit of Rs 10,000 and

thereafter in multiples of just Rs 1,000.

EASY FIXED DEPOSIT

FEATURES

Easy Fixed Deposit is an ICICI Bank fixed deposit scheme having benefits of Debit

-cum- ATM card (''the Card'')



The depositors shall be provided with a Debit Card for transacting in fixed deposit.

Transactions which are allowed are

Part withdrawal of fixed deposit

Full withdrawal of fixed deposit

Generation of mini statement

The Card will be issued in the name of primary depositor. No separate card will be issued to

joint applicant/s

Easy Fixed Deposit has two options namely

Easy Withdrawal

Easy Loan

RECURRING DEPOSITES:

ICICI Bank's Recurring Deposits are the ideal way to invest small amounts of money

every month and end up with a large saving on maturity.



FEATURES

Encourages savings without stress on your finances.

High rates of interest (identical to the fixed deposit rates).

Non-applicability of Tax Deduction at Source (TDS).

MINIMUM BALANCE

The minimum balance of deposit is Rs. 500 per month and thereafter, in multiples of Rs. 100.

PERIOD OF DEPOSIT

The minimum period is 6 months, and thereafter in multiples of 3 months.

YOUNG STAR ACCOUNT:



FEATURES

Young Stars is a banking service for children, aged 1day -18 years, brought to you by

ICICI Bank to help the parents meet the present and future aspirations that they hold for their

child. It offers various savings and investment options to the parent along with teaching the

child to manage his/her personal finance in a more responsible and independent manner. To

make the experience a pleasure we offer:

Option of a Savings Bank account, Fixed Deposit account or Recurring Deposit account.

Minimum balance at Rs. 500/- per quarter for Savings Bank.

A special Recurring Deposit account with additional features as below:

The parent would put forward the desired amount to be earned at the end of the tenure

Based on the prevailing rate of interest, the bank staff would then back calculate the

installments to be deposited now till maturity.

FREE PERSONALIZED CHEQUEBOOK

Free Domestic Debit Card* for the child above the age of 10 years with features as below:

Daily withdrawals limits of Rs. 1,000/-

Daily spend limits of Rs. 1,000/-

Special privileges across select alliance partners outlets

Facility to invest in GOI Relief Bonds and Mutual Funds, as GOI Relief Bonds have been

discontinued.



EASY FIXED DEPOSIT

FEATURES

Easy Fixed Deposit is an ICICI Bank fixed deposit scheme having benefits of Debit -cum-

ATM card (''the Card'')

The depositors shall be provided with a Debit Card for transacting in fixed deposit.

Transactions which are allowed are

Part withdrawal of fixed deposit

Full withdrawal of fixed deposit

Generation of mini statement

The Card will be issued in the name of primary depositor. No separate card will be issued

to joint applicant/s

Easy Fixed Deposit has two options namely

Easy Withdrawal

Easy Loan

A customer has to opt for one of these at the time of opening the account

Tenure of deposits varies between 1 year and 10 years

All deposits under this Deposit Scheme will be cumulative (reinvestment) in nature

Minimum deposit amount under the Deposit Scheme is Rs.20,000 and additionally

deposits can be made in multiples of Rs.5,000

Nomination details are as in the case of normal Fixed Deposits



EASY WITHDRAWAL

Under this option fixed deposit shall be linked to the debit card directly

The debit card can be used to withdraw money from the ATM, by breaking the FD, as

and when required or depositor can use the debit card to shop.

If the deposits are prematurely withdrawn, the interest rate for the period for which

deposit was with the ICICI Bank prevailing on date of deposit made, shall be payable

EASY LOAN

The depositors shall be provided with an overdraft facility against the Easy FD and can

draw up to 75% of the Easy FD value

The interest rate on the overdraft will be 2% higher than the rate on the FD

The depositor shall be required to execute all loan facility documentation as specified

by ICICI Bank for these purposes

Chequebook will also be issued to deposit holder



BANK @CAMPUS

BENEFITS

Technology-enabled service, through automated channels, without physical branch access.

BENEFITS TO THE STUDENT

Free Internet Banking

Free Phone Banking (in select cities*)

ICICI Bank N cash Debit Card

Other Benefits

BENEFITS TO THE PARENT

You can transfer funds from your ICICI Bank account to your child's account free of

charge, so that his / her college fees, tuition, living expenses etc. are taken care of.

If you have an ICICI Bank Credit Card, you can give your son / daughter a supplementary card

and even specify a pre-determined spending limit.

FREE INTERNET BANKING

Enquire about balance

Download detailed statement of accounts

View details of all accounts maintained with ICICI Bank



Transfer funds between your account and any other ICICI Bank account

Pay your utility bills-mobile, electricity and telephone bills

Request a Cheque book and demand drafts

Request to stop payment of Cheque

Report your lost Debit cards

Open Fixed and Recurring deposits online

Access information on personal finance, computing & the Internet, e-commerce,

lifestyle etc.

INVEST IN MUTUAL FUNDS

FREE PHONE BANKING

Enquire about balance

Request a tele-draft

Obtain mini-statements

Request a cheque book

Request to stop payment of cheque

Intimate lost Debit card

Transfer funds between ICICI Bank accounts



WOMAN’S ACCOUNT:

FEATURES

The features of the account have been specially designed keeping in mind a woman's

financial requirements. These include

A) Recurring Deposits

B) Financial planning of children

C) Family Shield Insurance

In addition to these, all features of the existing bank account are available with this account as

well such as

Free international debit card

Internet Banking

Phone Banking

ATM's



INVESTMENTS:

At ICICI Bank, we care about all your needs. Along with Deposit products and Loan

offerings, ICICI Bank assists you to manage your finances by providing various investment

options ranging from ICICI Bank Tax Saving Bonds to Equity Investments through Initial

Public Offers and Investment in Pure Gold. ICICI Bank facilitates following investment

products:

ICICI Bank Tax Saving Bonds

Government of India Bonds

Investment in Mutual Funds

Initial Public Offers by Corporates

Investment in "Pure Gold"

You can invest in above products through any of our branches. For select products

ICICI Bank also provides the ease of investing through electronic channels like ATMs and

Internet (ICICIdirect.com)



OBJECTIVES OF THE STUDY

Comparative study of Salary Accounts of various banks.

The advantages of Salary Accounts to the Corporates.

The study is done to know the features of Salary Accounts offered by different banks.

The advantages of Salary Accounts provided by each banks to Employees and

Employers.

Top reasons to outsource salary disbursement and payroll processing.



The additional features provided by Salary Accounts to the customers.

The eligibility criteria to have a Salary Account for the corporates.

SALARY ACCOUNT

What's so special about ICICI Bank Salary Account?

ICICI Bank Salary Account is a benefit-rich payroll account for Employers and Employees.

With ICICI Bank Salary Accounts the employees will enjoy the convenience of:

Free Internet Banking.

Free 24 hour Phone Banking,

Having the largest network of ATMs at their command,

ICICI Bank Salary Accounts benefits you in more than one ways: -

Employees receive instant credit of salaries.

Saves remittance costs.

Reduces your paperwork

More convenient than ECS.



Besides all of the above, employees will automatically become ICICI Bank account

holders with special benefits and privileges of 8-8 banking, Investment advisory and much

more...

ICICI Bank also has a special offering: Defense Banking Services designed exclusively for the

armed forces.

ADVANTAGE FOR EMPLOYERS

Successful business owners knows that, it is better to be an expert on the product or

service they are selling and let someone else be the expert on other tasks. One such 'other task'

is the payroll and salary disbursement.

Outsourcing the administrative task of payroll, is one way where one can invest more

time into own business and waste less time worrying about keeping up with the ever changing

and complex rules and regulations governing payroll.

TOP REASONS TO OUTSOURCE SALARY DISBURSEMENT AND PAYROLL

PROCESSING



Salary upload through a single Cheque: You need to give a consolidated Cheque of the

total salary amount to ICICI Bank and a breakup of the disbursements to the employees in soft

and hard copy format.

Multi-location Salary disbursal possible within ICICI Bank network: With the wide

reach of ICICI Bank, salaries of all the employees located Pan India can be uploaded from a

single point upload.

TAXES:

Market research shows that one out of every three employers has been charged for a

tax-related payroll error. This equates to billions of rupees in penalties. A payroll service

provider keeps you out of such statistics.

AFFORDABILITY:

For the employers time is money and their time is worthwhile. Consider how much

time they spend managing payroll. This equates to time taken away from revenue-producing

activities. At the very least, consider the cost of computer equipment and software as well as

the extensive training that is needed to run payroll internally. Outsourcing with the right

payroll service provider will save the time as well as money.

PROFITABILITY:

Outsourcing of payroll gives the employers the freedom to get back to their business.

TIME:



The employers have better things to do with their time than calculating payroll. Getting

salary cheques out on time is not only expected, but also a positive reflection on their

company.

ACCURACY:

Even with the simplest of payrolls, it's easy to make mistakes. Without current and on-

going training in payroll compliance, the company could face stiff penalties and unhappy

employees to boot.

PRIVACY:

It can be embarrassing and detrimental to morale if the wrong eyes fall on the salary

cheques. Confidentiality is much easier to maintain when payroll is outsourced, particularly

when the employees use direct credit.

MIS:

Payroll companies offer a wide array of standard reports that are informative and easy

to read. Keep the records neat and concise with these invaluable reports.

FLEXIBILITY:

As the business changes, so do the payroll needs. Don't get bogged down with the nuts

and bolts of personnel changes. Leave the details to an expert while you focus on your

business.



PROFESSIONALISM:

What better way to show the employees that their company is professional and secure?

Outsourcing the payroll coupled with all benefits of ICICI Bank savings accounts will enhance

your successful image and will make the employees happy. After all a happy employee is a

productive employee.

ADVANTAGE – EMPLOYEES

The employees automatically become ICICI Bank Salary Account holders with special

benefits and privileges and receive instant salary credit. The benefits include

International debit card,

Corporate Card with Individual Liability (CCIL),

Access to Phone Banking

Internet Banking,

Demat accounts,

And a host of other services to complement their savings account.

FEATURES OF ICICI BANK SALARY ACCOUNT: -

WELCOME-KIT

No more waiting for weeks to get the Chequebook and debit cards. ICICI Bank Salary



Account customers will have the facility of filling up a form and getting their chequebooks and

debit cards immediately.

VALUE ADDED SAVINGS:

This a unique facility that gives the employees liquidity of a Savings Bank Account

coupled with the high earnings of Fixed Deposits.

DEBITCARD

ICICI Bank offer an International Debit card to the Salary Account customers to

provide them access to our extensive ATM network. The card also allows them to shop at over

11,000merchantestablishments.

Interested employees can also apply for our International Debit Card 'N-Cash'. N-Cash

is a Visa electron card, which gives the cardholder access to more than a million merchant

establishments and Visa ATMs all over the world. The card comes with a unique points system

through which the cardholder earns points every time a merchandise transaction is made. These

points can be exchanged for cash later.

FREE INTERNET BANKING

ICICI Bank Internet Banking, ICICI Bank's Internet Banking facility gives the

employees the freedom to operate their account from the convenience of their home, office or

from anywhere in the world.

ONLINE FUNDS TRANSFER

No need for cash withdrawals and cheque deposits. The bank gives the employees the

facility to transfer funds online from any part of the world.



MOBILE BANKING

The employees can receive alerts on their mobile handsets providing them information

about their ICICI Bank Accounts and ICICI Credit Cards Account. Now customers can also

know the balance and other details of their accounts by requisitioning for it through SMS.

PHONE BANKING

The employees can use the phone banking facility to do banking transactions through

customer care centers.

FREE UTILITY BILL PAYMENTS

No queues. No wasted minutes. Now the employees can pay utility bills like electricity,

phone bills etc. using ICICI Bank Internet Banking.

REIMBURSEMENT ACCOUNT

If employees opt to disburse/reimburse the travel, food etc. expenses via reimbursement

accounts, a reimbursement account can be opened simultaneously along with the Salary

Account savings bank account, which would be linked together with the debit card already held

by the employee.

FREE REMITTANCE FACILITIES

Salary Account customers can avail of free remittance (demand drafts, cheques, pay

orders) up to Rs.25, 000 on ICICI Bank network.

OVERDRAFT FACILITY

Employees get an emergency overdraft facility on request, based on their take-home



salary. This would be adjusted in their following salary credit (available subject to employees

satisfying the eligibility criteria).

CASH DELIVERY AND CHEQUE PICK-UP FACILITY

If the office is located far away from the branch or ATM, the bank can, on request

deliver cash to employees or pick up the cheques to be deposited.

Bureau de change

The employees can meet all their foreign currency needs, buy internationally valid

travelers cheques issued by Thomas Cook, American Express, VISA and avail of a host of

other travel related services.

CARDS & LOANS

CCIL - SILVER CARD

Salary Account holders have the privilege of receiving the ICICI Bank Silver credit

card (Corporate Card with Independent Liability), free for the first year (available subject to

employees satisfying the eligibility criteria).

PERSONAL LOANS

As a special offering, the Salary Account customers would be extended personal loans.

HOME LOANS

Home Loans from ICICI Bank comes to the employees with attractive interest rates and

personalized service in the comfort of your home.



CAR LOANS

Car Loans from ICICI Bank come to the employees with instant approval, hassle-free

documentation and competitive interest rates.

TWO WHEELER LOANS

Two-Wheeler loans from ICICI Bank come to employees at attractive interest rates

coupled with a flexible financing option.

LOANS AGAINST SECURITIES

ICICI Bank will advance loans to Salary Account holders against securities and mutual

funds owned by them.

INVESTMENT SERVICES

DEMAT SERVICES

A Demat Account will let the employees transact in shares instantaneously in a safe and

secure manner.

RELIEF BONDS/ MUTUAL FUNDS/ INSURANCE

Salary Account customers can now invest in Government of India relief and savings

bonds, a basket of mutual funds, foreign exchange facilities and Insurance products through

ICICI Bank.

GOLD COIN

Employees can buy 24 karats Pure Gold, which ICICI Bank brings to employees each

coin comes to the employees straight from Switzerland. Refined to 99.99% fine gold and

sealed with a unique Certificate of Authencity- guaranteeing its purity.



ELIGIBILITY

The organization needs to have a minimum of 25 employees and a payout of Rs 36.0

lacs per annum and average salary per account of Rs. 12,000 per month.

Subscription to Bank Account Statements by E-Mail

Monthly account statements by Email:

The employees will receive the account statement in the first week of every month.

Monthly email statements are absolutely free of cost.

Monthly account statements in the Physical form:

ICICI Bank will be providing the employees with account statements in the physical

form on a quarterly basis. This will be provided free of cost. The employees may also

subscribe to monthly account statements in the physical form.

Please note that a fee of Rs. 200/- p.a. will be applicable for this service. The fee cycle

will be from April to March every year. For the requests coming in the middle of the financial

year the charges will be levied on prorata basis for the concerned financial year.

Sr.

No.

Frequency of

Account Statement

Mode of

receiptAmount

1 Monthly E-mail Free

2 Monthly Physical Rs.200*

3 Quarterly Physical Free

This does not apply to Private Banking customers, Current Account holders and Senior

citizens. They will continue to get monthly statements as before, free of cost.



ICICI BANK SALARY FORMAT FOR CORPORATE SALARY UPLOADSS NO NAME 12 DIGIT A/C NO INR C AMOUNT NARRATION OF AMOUNT

EXAMPLE

S NO NAME12 DIGIT A/C NO INR C AMOUNT NARRATION OF AMOUNT

1 XYZ 000201012345 INR C 9876:00 Salary for Jan 03

2 ABCD 000201054321 INR C 10256:00 Salary for Jan 03

DETAILS TO BE SENT TO ICICI BANK FOR UPLOADS

1 Consolidated Cheque bearing the total amount duly signed by the authorised signatory

2

Letter on the Company's letter head addressed to the Branch manager , mentioning the

Cheque details and with the Clause.

The letter needs to be signed by their authorised signatory

3 Floppy bearing the Soft copy of excel or Note pad

4 Hard copy of the matter that is in the soft copy

Declaration clause on the letter head : We Certify that the beneficiares mentioned in the floppy

and hard copy are one and the same and any discrepancy reg this.. The bank is not responsible.

S NO NAME 12 DIGIT A/C NO INR C AMOUNT NARRATION OF AMOUNT

1 XYZ 000201012345 INR C 9876:00 Salary for Jan 03

2 ABCD 000201054321 INR C 10256:00 Salary for Jan 03

3 NAME 000201096297 INR C 9876:01 Salary for Jan 03













INITIAL APPROVAL FORMAT-SALARY ACCOUNTS

Name of the Company :

Address :

Telephone & Fax :

Type of industry :

Name of the Contact Person :

Designation :

Email id of the contact person :

Net Salary

No. of employees

Rs 0-10000

Rs10000-20000

Rs20000 and above

Total No of Employees

Quarterly Average Balance :

Nodal Branch :



Locations where Salary account

facility extended

:

Value of salary Disbursement

per month

:

SPECIMEN SIGNATURE CARD OF SAG: RELATIONSHIPS

Name SAG Code (Company / Firm / Proprietorship)

Address

Sr.No

of Card

Tel No Nodal Branch / RegionFax No

Email Id

1Name of

Authorized Signatory

Date Bank Official Sign

Designation: From ToSpecimen Signature of :

________________________________



2Name of



Designation: From ToSpecimen Signature of:

_________________________________

3Name of



Designation: From ToSpecimen Signature of:

_______________________________

SALARY ACCOUNT

Growing sales, scale of operations of the company, controlling costs, managing

employee turnover are some of the issues that are seized with everyday for every company. So,

IDBI comes up with one answer to streamline your requirements on salary disbursement.

BENEFITS TO EMPLOYERS

IDBI banks Corporate Salary account provides so many facilities, so that there is no

need of worry to the employers about cash disbursement / account reconciliation and the

employees will enjoy world-class benefits and privileges.

BENEFITS TO EMPLOYEES



The salary will be credited to the employees’ account electronically anywhere in India,

saving him the trouble of waiting for a cheque / draft to be cleared.

FREE SERVICES:

Demand Drafts / Pay Orders

Employees can issue free Demand Drafts and pay orders on any of the IDBI bank

locations throughout India, without any limit on number or amount of transactions.

ATM Access

IDBI Bank has over 260 ATMs spread across every corner of the country and this

number just keeps on increasing everyday to let the employee’s access their account anytime,

anywhere.

INVESTMENT ADVISORY SERVICES

IIDBI Banks special advisory team will assist the employees with their investment

decisions on Mutual funds, Insurance and Bonds. They also do portfolio management to

maximize returns on the employees’ investments.

ANYWHERE BANKING

The Bank believes in being available to the employees whenever they want. To that

end, the employees can access their account through our vast ATM network, Phone banking,

Mobile phone banking and Internet banking.

STATEMENT OF ACCOUNT

A quarterly statement of account will be sent to the employees and The Bank will also

send them a monthly statement of account to their chosen e-mail id.



PERSONALIZED CHEQUE BOOK

The Bank will provide free chequebook with the employees’ name to operate their account

throughout the year.

ELECTRONIC FUND TRANSFER

Online connectivity of all IDBI bank branches ensures easy transfer of funds from one

account to another, free of charge without any limit on amount or number of transactions.

SPECIAL BENEFITS FOR EMPLOYEES

ACCOUNT OPENING FORMALITIES

The Bank's representative will visit the office to complete all the formalities (including

taking photographs) for opening the employee’s account. The employees can relax and let us

do the paperwork.

REIMBURSEMENT ACCOUNT

The employees can have separate reimbursement accounts to credit regular

reimbursements like LTA, conveyance expenses etc. This would help the employees to manage

cash reimbursement separately for tax purposes.



ZERO BALANCE SAVING ACCOUNT

The employees don't need to lock a minimum balance in their savings account

anywhere (which is otherwise Rs. 5,000). The Payroll Account is a Zero Balance Savings

Account.

WELCOME KIT

IDBI bank is the first bank to introduce the welcome kit concept. Powered by welcome

kit, the employees can start operating their account the same day they fill up an account

opening form.

INTERNATIONAL DEBIT CUM ATM CARD

The IDBI bank International Debit cum ATM card allows the employees to purchase

goods at merchant establishments and also give them the freedom to withdraw cash from

ATMs in India and abroad. The International Debit cum ATM card is fully loaded and offers:

Fabulous discounts at over 600 establishments

Loyalty points with great rewards

Enhanced access to over 6.7 lakh ATMs and 10 million establishments worldwide

Promotional programs with exciting prices



DEMAT ACCOUNT

As a special offer, Demat Account opening charges will be waived and no account

maintenance charges will be applicable for the first year. That aside, the bank provide the

employees' statement of holding by e-mail with the exact value of the holdings indicated in it.

HOME / PERSONAL LOANS

As a special offer, even the employees can avail offers that best suit their requirements.

Now employees can own that dream house or go for that holiday which they promised

themselves.

TEMPORARY OVERDRAFT FACILITY

An overdraft facility to the tune of 50% of employee’s monthly net salary. This makes

him covered for those unplanned needs and ensures that none of the cheques issued by him will

ever bounce back.

CHEQUE DROP BOX CLEARANCE ONCE A DAY (IF REQUIRED)

The Cheque Drop Box would be installed at the company premises, where company

employees can deposit their cheques. These cheques would be cleared on a daily basis.

TAX FILING

At the end of financial year the employees file their income tax returns. What's more,

the bank will also help the employees to get their refunds in a quick time. This service would

be available for a nominal charge.



SALARY ACCOUNT

When an employee opens a HDFC Bank Corporate Salary Account he gets more than just an

account. He gets a host of e-Age Banking facilities such as Free



Net Banking,

Phone Banking,

Mobile Banking,

International Debit Card (valid in 140 countries)

And Bill Pay.

All that plus free Demand Drafts and preferential interest rates on Personal Loans.

THE ADVANTAGES

ZERO BALANCE ACCOUNT

The employee does not have to maintain any minimum balance in the account.

FREE DEBIT CARD

The employees do not have to pay the annual fee for their Debit Cards. Additionally, the

first year annual fee is also waived for one additional account holder, as in the case of a savings

account holder. This plus all the other Debit Card benefits are available to the employees.

FREE INTER-CITY/BRANCH BANKING

There is no cap on the transaction size for inter-branch/city transactions for the

employees. The fees associated are also waived. They can perform the following transactions:

Cash withdrawal: Customer presence required.

Cash deposit: Customer presence required



DD/MC issuance: Customer presence required

Cheque deposit: Customer presence not required

Any other written instructions: Customer presence not required

This facility is not extended to premature withdrawal of Fixed Deposits

FREE DEMAND DRAFTS

The employees can avail of free Demand Drafts up to Rs 25,000 issued at any of the

HDFC Bank branch locations. This offer can be availed of through Phone Banking or Net

Banking or at the branch. The amount of the Demand Draft will be debited to the salary

account.

Please note: DDs drawn on correspondent bank will attract full charges

CASH DELIVERY

HDFC Bank that is easily accessible from your office, they will deliver cash against

cheques from the employees once a week subject to a maximum of twice a week. Maximum

amount of withdrawal per employee is Rs 10,000, minimum Rs 1,000/-.

This service is currently available in Mumbai, Delhi, Chennai, Hyderabad,

Bangalore, Pune and Ahmedabad.

CHEQUE PICK UP

Employer and employees can avail of this facility if company has an average

net take home salary of at least Rs 15,000 and minimum of 200 employees.

This facility will be offered daily. A drop box will be installed at the company premises and

the cheques will be picked up at the designated time.



This service is currently available in Mumbai, Delhi, Chennai, Hyderabad, Bangalore, Pune

and Ahmedabad

OVERDRAFT FACILITY

Employees with a salary account are eligible for this facility:

Employees with a "Net Monthly Take Home Salary" of a minimum of Rs.10,000 can avail a

clean overdraft facility on the savings account @ 18%.

Please note: The employee has to sign an indemnity bond and give a copy of the latest salary

slip.

DISCOUNTS ON LOANS

Employees can avail of the benefits of preferential pricing on asset products, namely

Loans against Securities,

Car Loans and

Personal Loans.

All loans at discretion of the bank.



WHO IS ELIGIBLE

Corporate Salary Accounts programme is targeted at salaried employees. This

programme offers a host of world class banking products & services to the salaried employee.

IT'S FREE

Zero balance savings account

Free Debit Card

Free Inter-city/branch banking

Free cash delivery /cheque pick up in the top 7 cities

Free cheque pick up in 7 cities

Temporary overdraft facility @ 18% p.a. (+interest tax if applicable)

Free Demand Drafts up to Rs 25,000 at HDFC Bank branch locations

Discount on loan products offered by the bank

Personalized Cheque Book

Free Net Banking

Free Mobile Banking

Free Phone Banking

Free Bill Pay



SALARY ACCOUNT

UTI Bank knows the important of employee satisfaction for an organization to grow to

its full potential. In keeping with this, their endeavor is to provide a complete solution, that

makes the employees happy and therefore more productive, hence they offer the Salary Power

scheme.

UTI Bank's Salary Power comes with a host of facilities that gives the employees the

complete gamut of banking services (including overdrafts, loans and zero-balance

requirements) on a preferential basis. Not only is it a convenient way for the employer to

manage salaries (across various centers, through the centralized database), the employee also

benefits from a range of value added benefits. Making it the perfect incentive for the

employees.



SPECIAL SALARY POWER SCHEME

1 Balance Requirement No minimum balance

2 Anywhere Banking Available across the country

3 Cheque books Multi-city At Par Cheque Book

4 International Debit cum ATM Card

-Personal Accident Insurance cover of upto Rs. 2 lacs per cardholder- Cash withdrawal of upto Rs. 25,000/- daily - Purchase protection & Zero Card Liability- Accepted in India at over 10,000 ATMs and 80,000 merchant establishments, also at 8,40,000 ATMs and 13 million merchant establishments worldwide

5 Computerized Statements -Free on a quarterly basis -Free monthly statements on e-mail

6 Joint Account Facility Available

7 Flexi (2-in-1) Encash Deposits*

Available subject to terms and conditions

8 Internet Banking Available as iConnect with enhanced features like free bill payments (e.g. electricity bills) and electronic payment of premiums (LIC - Insurance Premium) at select centers. Online shopping and E-Broking

9 Telebanking Free (available for 24 hours at select centers)

10 Mobile Banking Available

11 Overdraft Facility Upto 50% of net salary at Personal Loan rates*

12 Demand Drafts Free Demand Drafts drawn on UTI Bank Branches

13 Outstation Cheques -Free collection, only out-of-pocket expenses to be recovered.-Instant credit of up to Rs. 15,000/- on normal charges

14 Demat Account Available

15 Loan against Demat shares Available at competitive commercial rates

16 Financial Advisory Services

Free with daily electronic updates

17 Power Loans* -Power Homes - Housing Loans - Personal Power - Personal Loans - Study Power - Educational Loans - Power Drive - Vehicle Loans



- Power 24: Facility of ATM cum Debit Cards on overdraft accounts

18 Priority Banking Reduced balance criteria for availing Priority Banking that entitles you to exclusive banking and lifestyle privileges

COMPARATIVE STUDY AND FINDINGS

According to my study, I have come to know that,

ICICI Bank has more than 1900 ATM’S across the country where IDBI, HDFC

and UTI banks has lesser ATM’s



Multicity Cheque Book facility is given by ICICI Bank and UTI Bank only, as

compared to other Banks.

ICICI Bank provides the Auto Invest plan through which customers gets the benefit of

FD Rate of Interest for their salary accounts (savings) as compared to other Banks.

Through ICICI Bank customers can purchase the 24 Karat pure gold and each coin

comes directly from Switzerland Refine to 99.99% fine gold and sealed with a unique

certificate authenticity guaranteeing its purity.

ICICI Bank provides 12 hr Banking services from 8 am to 8 pm (Monday to Saturday)

Welcome Kit facility is given by ICICI Bank and IDBI Bank only.

ICICI Bank has its special offering i.e. Defense Banking service Visa exclusively for

Armed forces. Through this service defense people operate their account through out

INDIA.

The similar facilities given by all the banks to its salary accounts holders are,

Zero balance savings account

Free Debit Card

Free Inter-city/branch banking



Free cash delivery /Cheque pick up in the top 7 cities

Free Cheque pick up in 7 cities (Only in Metros)

Discount on loan products offered by the bank

Personalized Cheque Book

Free Net Banking

Free Mobile Banking

Free Phone Banking

Free Bill Pay (In Metros)

RECOMMENDATIONS



Have simple documentation for opening the Salary Accounts and adopt faster

processes.

Update the concerned authorized signatory lists.

Give an extension accidental policy period for the salaried employees.

Try to retain the customers by providing them better services.

ICICI Bank should make some arrangements so that small problems can be solved

locally i.e. Presently small request from the customer side has to be sent to Regional

Office to make small changes and it takes lot of time.


Documents

A Project Report on COMPARATIVE STUDY OF SALARY ACCOUNTS OF VARIOUS BANKS AT ICICI BANK