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Summer Internship Project Topic-

“Customer Acquisition in Captive Locations (HNIs)”

Presented By- Pratikshya Parida


Roll No.- 17DM026
CONTENTS

 Introduction
 Objectives
 Research Methodology
 Limitations
 About the Company
 Products of SBI
 Analysis and Interpretations of the Customer’s Perception Survey
 Findings
 Recommendations
 References
Customer Acquisition in Captive Locations

 100 non- customers especially HNI customers was to be


acquired by using personal selling process.
 100 existing customers was to be contacted for cross-selling
of SBI products such as Life Insurance, Mutual Funds and
Credit Cards.
 The opinions (feedback) of the customers as well as non-
customers was taken to gain knowledge about their
perception towards SBI.
OBJECTIVES OF THE STUDY

 To learn about the Products and Services of State Bank of


India.
 To acquire non-customers and customers for up-selling and
cross-selling of products respectively.
 To study the customer’s perception towards products and
services of State Bank of India in Jajpur Road, Jajpur.
RESEARCH METHODOLOGY
 Method involved- Interactive method, Descriptive method and Survey
method.
 100 non-customers and 100 customers were contacted directly or
through telephone for up-selling and cross-selling of SBI products
respectively and were acquired using personal selling process.
 100 customers/non-customers were surveyed personally with the help of
a structured questionnaire to know about bank’s image in the market.
 Data was analyzed using software, MS-Excel.
 The project was completed by the help of Primary data as well as
Secondary data.
 Primary Data- the data was collected through the structured
questionnaire with personal interviews.
 Secondary Data- the data was collected from research articles and
journals using internet.
LIMITATIONS
 Difficulty in completing the target within the stipulated
time period to the following reasons-
 Unwillingness of the customers to spare their time in their
busy schedule.
 No need of the product at that time.
 Some customers are hard to convince as they feel other
banks are providing better products and services as
compared to SBI.
 Unawareness of the customers about the products and
services provided by the bank became an obstacle during
the survey.
STATE BANK OF INDIA
 Founded -1806
 Headquartered- Mumbai, India
 Chairman- Rajnish Kumar
 Ranked 217th on the Fortune Global 500 list of the world's biggest corporations
as of 2017
 Branches- more than 24,000
 ATMs- more than 59,000
 Employees- 209,567
 Has Seven International subsidiaries in the United States, Canada, Nepal,
Bhutan, Nigeria, Mauritius, and the United Kingdom, and more than 50 branch
offices in 30 countries.
 Provides banking products and services to individuals, commercial enterprises,
corporates, public bodies, and institutional customers in India and
internationally.
 Launched its Digital Bank (YONO App) on 17th Nov, 2017 allowing people to
perform regular banking operations without visiting the physical branches.
PRODUCTS
 DEPOSITS
 Savings Account- Interest Rates- 3.50%-4.00%
 Current Account- Interest Rates- Nil, MAB- 10,000(PBB)
 Fixed Deposit- Interest Rates- 5.75%-6.75%
Min. Amount- Rs. 1000, Max- Nil
Tenure- 7Days- 10 Years
 Recurring Deposit- Interest Rates- 6.70%-6.85%
Min. Amount- Rs. 100, Max.- Nil
Tenure- 12 Months to 120 Months
 LOANS
 Personal Loan (Xpress Credit)- Interest Rates- 11.75%-14.75%
Term Loan- Min- 25,000
 Car Loan- Interest Rates- 9.20%-9.70%
Repayment Tenure- 7 Years
Min. Annual Income- Salaried Person: Rs.2,50,000 & Business Person : Rs. 4,00,000
 CREDIT CARDS (Simply Save)- Annual Fees ( one time)- Rs. 499
ANALYSIS AND INTERPRETATION

Age No.

<18 1 Gender No.


18-25 26

25-40 35 Male 62
40-60 32

60 above 6 Female 38
Occupation
Salaried Person 51
Business Person 10

Professional 6
Student 19
Homemaker 11
Pensioner 3
2. How long have you been the
1. Are you a customer of customer of the Bank? No.
State Bank of India? No. <3 Years 8
3-6 Years 19
Yes 83 6-9 Years 12
9-12 Years
19
No 17
Above 12 Years
25
4. Which product(s) have you availed from the Bank? No.
3. Are you aware about the
products and services provided Deposit(s) 83
by the Bank? No. Loan(s) 42

Yes 39 Mutual Funds 12


Life Insurance 32
No 17
General Insurance 7
Not much 27 Credit Card 19
5. Which kind of deposit account(s) do you have in the Bank? No.
Savings Account 72
Current Account 10
Fixed Deposit 22
Recurring Deposit 15
Public Provident Fund 14
Atal Pension Yojana 1
Senior Citizen Savings Scheme 4
6. Which type of Loan(s) have you availed from the Bank? No.
Personal Loan 16

Car Loan 12
Home Loan 17
Education Loan 3
Property Loan 1
Gold Loan 4
Not taken any Loan 41
7. Which Service(s) do you
use? 8. Are you aware of the
No. Digital Products of the Bank? No.
ATM Service 76
Internet Banking 14 Yes 47

Mobile Banking 31
Phone Banking 10 No 36
10. Which App(s) do you use? No.
9. Do you use any of the Digital
Product? 83 SBI Anywhere 19
YONO 10
Yes 33 SBI Quick 7
SBI Buddy 1
No 6
SBI Bhim 1
No Response 44 Not using any App 50
11. Do you get prompt service at the branches? 83

Always 19
Often 22
Sometimes 24
Rarely 9
Never 9
13. What kind of problem(s) do you
12. Have you faced any kind of face in the Bank? No.
problem in the Bank? No. Technical Problem 20

Excessive/Hidden Charges 14
Yes 53
Bad Customer Service 16

No 30 Delay in Delivery 29
14. How quickly are your banking problem(s) addressed by the Bank? No.- 53

Immediately 1
Within 24 Hours 12
Within 2-5 Days 23
More than A week 15

Not Addressed at all 2


15. How much are you satisfied with the Products and Services of the Bank? No.

Very Satisfied 17

Satisfied 36
Less Satisfied 19
Dissatisfied 11
16. What is the reason(s) of choosing SBI? No.
Brand Image 38
Highly Secured 25
Better Products and Services 40
Customer- Friendly 15
Widely available 29
Salary Account 13
17. Would you like to switch if better products and services will be
provided by another Bank? No.

Yes 53

No 30
19. Which other Bank(s) are you associated
with? No.
Allahabad Bank 13
Canara Bank 19
Andhra Bank 11
HDFC Bank 10
ICICI Bank 2
20. Why did you choose other bank(s) over SBI? No.
Prompt Service 35
Customer- Friendly 29
Less Fees and Charges 14
Less Documentation 13
Good Communication 18
No Technical Problem 4
Better Products and Services 11
FINDINGS
 Most of the customers have faced problems in the bank and
complaint about delay in delivery, bad customer service and
technical problems, which are addressed late by the bank due to
which they are switching to other banks providing better products
and services.
 Most of the customers are unaware of the products and services of
the bank.
 Most of the customers are switching to other banks for loans due to
its complex procedures.
 Cross-selling products are less availed by customers.
 PSB’s like Canara Bank, Andhra Bank and Allahabad Bank are the
major competitors of the bank in that area as they provide prompt
and customer- friendly services.
RECOMMENDATIONS
 More branches should be established in neglected areas to get more helping
hands for the customers.
 Awareness about the digital products should increase to decrease the hassle
of customers visiting the branch for a minor work.
 Pensioners, Senior Citizens and Women should have separate counter in the
branches.
 Customers should be suggested/ guided for investing the surplus money in
Mutual Funds.
 Loan procedure should be made simpler for the convenience of the
customers.
 A convenient help desk in every branch is required for helping the
customers in solving their problems quickly.
 Proper marketing of the products and services should be done to compete
with the new generation banks.
 Customer service of the bank needs to improve. Employees should be
trained to deal nicely with the customers.
REFERENCES
 www.sbi.co.in
 https://www.onlinesbi.com
 http://bfsi.eletsonline.com/sbi-unleashing-the-digital-journey-in-banking/
 https://www.ndtv.com/business/state-bank-of-india-yono-app-open-sbi-digital-
account-in-less-than-five-minutes-1784143
 https://bonnevie.news/state-bank-indias-digital-transformation-taking-
digitisation-flame-digital-2-0-digital-3-0/
 https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=8
74487
 https://business.mapsofindia.com/banks-in-india/state-bank-of-india.html
 https://www.ndtv.com/business/stock/state-bank-of-india_sbin/reports
 http://www.referenceforbusiness.com/history2/22/State-Bank-of-India.html
 https://www.sbicard.com/en/personal/credit-cards/shopping/simplysave-
advantage-card.page