COMPARATIVE ANALYSIS OF AIXS BANK SAVING A/C WITH HDFC's SAVING A/C

AXIS BANK V/S HDFC BANK

FEATURES NO. OF PRODUCTS

AXIS BANK

HDFC BANK products: regular,

six: zero balance saving a/c, Three krishi saving a/c, Easyaccess, prime, womens saving a/c, pension saving a/c

savings plus & savings max; each of which are further divided into option 1 and 2.(I have taken comparative

product that is option 1 of regular savings acc.) Minimum Balance (Average Nil for zero balance, 1000 Rs. 10,000 (Metro / Urban), quarterly account balance) for krishi saving a/c, Rs 5000 Rs. 5000 (Semi-Urban /

in metro city RS 2500 in Rural) semi urban city and Rs 1000 in rural for easyaccess a/c, for prime a/c same as for easyaccess a/c, nil for

woman saving a/c, nil for pension a/c Fee for non maintenance of Annual quarterly average balance a/c maintenance Rs.750 per qtr.

charges 500 per annum for zero balance a/c, 750 for all saving a/c holders

Statement of account

Quarterly free, and monthly Monthly statements to be e-statement free (if asked Collected for). from branch.

Quarterly statements sent by post

ATM usage

Unlimited free .

First 4 withdrawals free of cost from any cirrus network ATM

Regular debit card D.D.

95 for all saving a/c holders, Rs.50 for amt up

Rs.100 plus taxes

to Rs.50 for amt up to 10000,

Rs.10,000;Rs.2.50 per 1000 Rs.75 for amt greater than for amt up to 50,000;Rs 2 per 10000 and up to up 50000, 1000 for amt greater than Rs. 2.50 per 1000 or part 50,000 thereof (Min Rs.150) for amt greater than 50000 Pay order (P.O.) Upto 50,000 is Rs 50, Above 2.50/1000 Branch transaction 3 transactions per quarter nil Free 3 free in the qtr & Rs. 60 for zero balance a/c, beyond per additional transaction on 3 transaction Rs 100 per non-maintenance transaction for zero balance balance a/c, cheque book charges Rs deposit/withdrawal) 5 per cheque leaf for zero balance a/c, no such charges for other account holders Personalized cheque books Free upto 20 leaves per Free, Rs.5 per leaf on non quarter if above 1 cheque book per quarter Rs 50 Balance enquiry Free Instant Free In a weeks time maintenance of Min balance of Min (cash 50,000 is Rs Same as above.

Account opening& welcome kits

INTERPRETATION:  Here also AXIS bank saving account services are more than to HDFC saving bank account services.  AQB is same for various saving bank account holders under HDFC bank, and different AQB for different saving account holders is required under AXIS bank.  Non maintenance account charges are also kept same under HDFC bank account, and different charges for different account holders are set under AXIS bank.  AXIS bank is providing unlimited free ATM usage, and only first four withdrawals are free under HDFC bank.  DD and PO charges are higher under HDFC bank then AXIS bank.  HDFC bank charges Rs.60 extra after first 3 bank.  the welcome kit is provided instantly on the spot in axis bank, whereas HDFC takes approximately a weeks' time for the same. bank transactions made by the customers, charges are differently set as per to different account holders by AXIS

COMPERATIVE ANALYSIS OF AXIS BANK CURRENT A/C and HFDC BANKS CURRENT A/C
AXIS BANK V/S HDFC BANK

FEATURES Number of products

AXIS Three: normal,

HDFC business Four: plus, trade, premium, and regular for plus,

advantage, club 50 Average quarterly balance

:Rs. 10000 for metro/ urban Rs.100000 branches & Rs. 5000 for semi urban/rural branches for normal :Rs 25000 for metro/ Urban & Rs 12500 for semi urban/rural advantage. : Rs 50lacs for metro/urban & Rs 25lacs for semi urban/rural for club 50. for business

Rs.40000 for trade, Rs.25000 for premium, & Rs.10000 for regular

Fee for non maintenance of ;Rs. 400 for both metro & Rs.600 for plus, Rs.1200 for AQB rural in case of normal. :Rs 450 for both metro& rural for business advantage trade, Rs.900 for premium and Rs.750 for regular.

:club 50: Rs 5000 per 6 months if balance is b/w 10lacs to 20lacs & Rs 10000 per 6 months if balance is less than 10lacs for

metro/urban : Rs 5000 per 6 month if balance is b/w 5lacs to 10lacs & Rs 10000 is

balance is less than 5lacs for rural. Statement of account Issue of cheque book Free (physical or e-mail) Normal: 1st 25 Free once in a month cheque books; 300

cheque PAP

leaves are free than upto 50 leaves free pm for plus, 200 per month Rs 2/leaf & b/w leaves free pm for trade, 100 51 to 250 Rs 5/leaf & above leaves free pm for premium 251 Rs 8/leaf Business advantage: same as for normal Club 50: free and Rs.2 per leaf for regular

ATM usage

Free usage of axis bank, Free usage of HDFC bank Rs.1.50 on withdrawal from ATMs. other banks

Issue of international debit Free for 1st year, Rs.150 Free for first year card there after, for club 50 free

Transfer from one account Free for all to other (intercity) D.D/P.O.

Free for all

Normal: ad valorem charges Free up to 50 DDs per Rs 1.00/1000 & transaction month. charges Rs 50 per P.O : for D.D ad valorem charges Rs 1.50/1000 & transaction charges Rs 50 Business abvantage: Above 50

transactions, charges @ Rs. 25/- per DD for plus, Free up to 30 DDs per month. Above 30 transactions, charges @ Rs. 25/- per DD for trade; DD Amount Up to Rs. 50,000 charges Rs. 40/- per

ad valorem charges free & DD, Above Rs. 50,000 and transaction charges 3 per day up to Rs. 100,000- Rs. 25/-, free above that Rs 50 per PO : for DD ad valorem charges free upto 3lacs above that Rs 1/1000 & Transaction charges Above Rs. 100,000- Free for premium and DD Amount Up to Rs.50,000 charges Rs.40/per DD, and Above up to

Rs.50,000

free Rs.100,000- Rs.25/-, Above

upto 10 DD per month above Rs.100,000- Free for regular. that Rs 50 per DD. Club 50: DD & PO free.

Balance enquiry

Information not available

Rs.25 for all

INTERPRETATION:  AQB is broadly categorized for rural and urban areas under AXIS bank, but no such rural and urban classification is made by HDFC bank for its current account customers.  As per to different heads categorization charges are charged by both the banks from its current account holders under the fee charged by them for maintaining their AQB balances.  ATM usage is unlimited free under HDFC bank for its holders of account, but Rs. 1.50 is charged by in case of AXIS bank account transaction from other ATMS.  Different DD and PO rates are applied by both the banks according to the kinds of account facilities they are providing to their ultimate customers.