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PROJECT REPORT ON TO STODY THE SERVICES AND PRODUCT DIFFERENTITATION OF IDBI BANK AND AXIS BANK
INTRODUCTION
Axis Bank was the first of the new private banks to have begun operations in 1994, after the
Government of India allowed new private banks to be established. The Bank was promoted
jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life
Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and
other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India
Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance
Company Ltd.
The Bank as on 30th September, 2012 is capitalized to the extent of Rs. 414.53 crores with the
public holding (other than promoters and GDRs) at 53.80%.
The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. The
Bank has a very wide network of more than 1600 branches (including 169 Service
Branches/CPCs as on 30th June, 2012). The Bank has a network of over 10000 ATMs (as on
30th June, 2012) providing 24 hrs a day banking convenience to its customers. This is one of the
largest ATM networks in the country.
The Bank has strengths in both retail and corporate banking and is committed to adopting the
best industry practices internationally in order to achieve excellence.
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VISION AND VALUES
VISION 2015:
To be the preferred financial solutions provider excelling in customer delivery through insight,
empowered employees and smart use of technology
Core Values
Customer Centricity
Ethics
Transparency
Teamwork
Ownership
AWARDS
1. Awards & recognition received by the Bank during the Year 2012:
2. Best Bank in the Private Sector Bank category (CNBC-TV18’s India Best Bank and
Financial Institution Awards)
3. Awards & recognition received by the Bank during the Year 2011:
4. Bank of the Year – India (The Banker)
5. Brand Excellence Award 2011 in the BFSI category (Star News)
6. The Most Consistent Large Bank (Best Banks – 2011 survey (Business Today and
KPMG)
7. Most Preferred Bank Amongst Retail Consumers (CLSA survey on personal banking
trends)
8. Most Productive Private Sector Bank (FIBAC 2011 Banking Awards)
9. 3rd Strongest Bank in Asia-Pacific Region (Asian Banker)
10. The Best Domestic Bank – India; The Best Bond House – India (The Asset Triple A
country Awards 2011)
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11. Best Risk Master in the Private Sector Category (FIBAC 2011 Banking Awards)
12. Best Bond House in India – 2011 (Finance Asia)
13. Awards & recognition received by the Bank during the Year 2010:
14. Euromoney – Best Debt House in India
15. Asiamoney – Best Domestic Debt House in India
16. Financeasia – Best Bond House in India
17. FE Best Banks Award – Best New Private Sector Bank, Rank 2
18. Forbes Fab 50 – The Best of Asia-Pacific’s Biggest Listed Companies- second year in a
row
19. The Asset Triple A Country Awards 2010:
20. Best Domestic Bank, India
21. Best Domestic Bond House, India.
22. Business Today Best Bank Awards - Overall Winner & Consistent Performer -(Large
Banks Category)
23. Business World Best Bank Award- Fastest Growing Large Bank
24. Ranked No. 1 in "overall experience with bank staff" and "overall branch facilities" by
The Hindustan Times-MaRS Survey Report dated, 29th March, 2010
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BOARD OF DIRECTORS
Adarsh kishore chairman
Shikha Sharma md and ceo
Rama bijapurkar director
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PRODUCTS OF THE COMPANY
1. ACCOUNTS
a. Saving account
b. Salary account
c. Current account
1. Types of saving account
A. Easy Access Savings Account
B. Prime Savings Account
C. Future Stars Savings Account
D. Prime Plus Savings Account
E. Women's Savings Account
F. Senior Citizen's Account
G. Pension Savings Account
H. Trust/NGO Savings Account
I. 3-in-1 Online Investment Account
J. Insurance Agent Account
2. DEPOSITS
1. Fixed Deposits
2. Tax Saver Fixed Deposit
3. Recurring Deposits
4. Encash 24
5. Interest Rates
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1. FIXED DEPOSITS
Features & Benefits
Documentation
How to Open a Fixed Deposit Online
How to Apply
Axis Bank offers multitudes of fixed deposit schemes for various durations. It offers simple reinvestment
Fixed Deposits (at very competitive interest rates), which can be opened with a minimum investment of
Rs 10,000. You can make additions to your deposit in multiples of Rs 1,000 each. The tenure of your
fixed term deposit must be a minimum of 6 months.
Fixed Deposit Schemes
Reinvestment Deposits:
In a reinvestment fixed deposit scheme, the interest accrued on your deposit at the end of each quarter is
invested along with the principal. The tenure of your deposit must be a minimum of 6 months. At the end
of the quarter, the interest and the principal are both rolled over, and the interest is calculated on the total
sum. Income tax is deducted at source.
Automatic Rollover:
As a Fixed Deposit holder, you can avail of the facility for automatic rollovers on maturity (for both the
principal and interest). You can select this option in the Account Opening Document (AOD). The options
available are:
Rollover only Principal:
Only the principal amount of your fixed deposit will be rolled over. The interest will be either credited to
your designated account or paid out.
Rollover Principal and Interest accrued in Reinvestment Deposit scheme:
This will rollover both the deposit and the interest accrued for the same tenure at the Interest
Rates applicable on the maturity date.
On or before the maturity date, you can make the following changes in the rollover instructions of the
deposit:
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Change in tenure
Change in maturity instructions
Change in payment instructions
Change in principal (only reduced amount)
Change rollover of Principal to rollover of Principal + Interest, or vice versa.
Withdrawals of Fixed Deposits
All encashment or withdrawals of Fixed Deposits can only be made at the branch where the deposit was
booked.
Method of calculation of interest rates on your fixed deposits
For fixed deposits with tenure of 6 months & above, interest is calculated on a quarterly basis.
Interest earned during the previous quarter is added to the Principal for calculation of interest. Fixed
deposit interest rate on this amount is calculated every quarter.
For fixed deposits schemes with tenure of below 6 months, interest is calculated at Simple Interest. Please
note that the period of Fixed Deposit is considered in number of days.
In the event the depositor chooses to receive the periodic interest payments on a quarterly basis, interested
is calculated and paid on quarterly rests.
On premature withdrawal of the deposit, interest shall be paid only for the period for which the deposit is
maintained with the Bank and at the rate applicable for such period.
Tax at source is deducted as per the Income Tax regulations prevalent from time to time.
2. TAX SAVER
Features & Benefits
Interest Rates
Tax Advantage Rate of Interest
Eligibility
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How to Apply
In the Finance Bill of 2006, the government had announced Tax benefits to Bank Term Deposits which
are of over 5 year tenure u/s 80C of IT Act, 1961 vide Notification Number 203/2006 and SO1220 (E)
dated 28/07/2006.
The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year
is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d)
Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. (e) Term deposit
under this scheme cannot be pledged to secure a loan.
Benefits of tax break u/s 80C of IT Act Benefit Illustrator Example
Assume that a customer invests Rs 100,000 in this scheme @ 8% p.a. in fixed deposit for five years. He
will get a benefit of Rs 30,600 at 30.6 % on the eligible investment of INR 100,000 assuming that he is in
Rs 2,50000 lac to Rs 10,0000 lac tax bracket, thus his effective investment would be Rs 69,400. He would
earn Rs 8000 (08 percent on 1 lac) as interest per annum, which would translate to a return of 11.5
percent on the effective investment of Rs 69,400.
Features
Two schemes TDGRI (Reinvestment Type) and TDGQI (Quarterly Interest Type).
Minimum and Maximum Deposit Amount: The minimum deposit amount will be INR 100 or multiples
thereof and maximum deposit amount will be INR 100,000
Lock-in-Period: Since there is an underlying tax advantage u/s 80C of IT Act, there would be a lock in
period of at least 5 years on the FD under this scheme.
Type of deposit: Two types of deposits are to be offered under the scheme, one providing for quarterly
compounding/reinvestment of interest (RIC scheme) and the other providing for quarterly payout of
Interest (QIC scheme) to the designated operative account of the depositor.
Premature closure of Fixed Deposits:. A minimum lock in period of 5 years is stipulated to enable the
deposit to be assessed as exempt from taxable income u/s 80C of the IT Act.
The maturity period of a term deposit receipt of any denomination shall be five years commencing from
the date of the receipt.
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No term deposit shall be en-cashed before the expiry of five years from the date of its receipt
Fixed Deposit Receipt: As per the scheme notification, tax benefits under this scheme are to be claimed
through the Fixed Deposit receipt issued by the Bank.
Tax Deducted at Source: Fixed Deposits with the bank shall be subject to Tax Deduction at source as per
Income Tax Act 1961.
Interest on these term deposits shall be liable to tax under the Act, on the basis of annual accrual or
receipt, depending upon the method of accounting followed by the assessee.
The tax on such interest shall be deducted in accordance with the provisions of section 194A or section
195 of the Act.
3. RECURRING DEPOSITS
Features & Benefits
How to Apply
Are you considering saving money a bit at a time?
Axis Bank's Recurring Deposit scheme will allow you with an opportunity to build up your savings
through regular monthly deposits of fixed sum over a fixed period of time.
Features
Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and above in
multiples of Rs 500 thereafter.
Recurring Deposit accounts can be opened for a minimum period of 12 months and in multiples of 12
months thereafter, upto a maximum of 120 months.
The amount of installment once fixed, cannot be changed.
Installment for any calendar month is to be paid on or before the last working day of the month. Where
there is delay in payment of installment, one can regularise the account by paying the defaulted
installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a
month will be treated as full month for the purpose of calculating the penalty.
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The total amount repayable to a depositor, inclusive of interest, depends on the amount of monthly
installments and the period of deposit.
4. ENCASH 24
Features & Benefits
How do I sign up for Encash 24?
The Encash 24 (Flexi Deposit) gives you the liquidity of a Savings Account coupled with high earnings of
a Fixed Deposit. This is achieved by creating a Fixed Deposit linked to your Savings Account providing
you the following unique facilities:
Maximum Returns:
Your money is no longer idle. As soon as the balance in your Savings Account crosses over Rs 25,000,
the excess, in multiples of Rs 10,000 will be transferred automatically to a higher interest earning Fixed
Deposit Account. The maturity of fixed or term deposits formed as a result of transfer of money from the
Savings Bank account will be for a maximum period of 181 days and the interest will be calculated on
simple interest rate basis.
Maximum Liquidity:
The money parked in Fixed Deposits as a result of the above mentioned sweep out from your Savings
account can be easily accessed by issuing a cheque, withdrawing through ATM etc. This amount is
automatically reverse swept from the most recently formed Fixed Deposit in units of Rs 5,000 to the
Savings account whenever the balance in your Savings account falls below Rs 25,000. The amount
broken form your Fixed Deposit will earn interest rates at the applicable rate for the period that the
deposit was held with the Bank. The remaining amount of Fixed Deposit will continue to earn the
contracted rate of interest.
Auto Renewal:
On maturity of your linked Fixed Deposit, the Bank will automatically renew it for a maximum period of
181 days.
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INTEREST RATES
Savings Account Deposit Interest Rate - 4% (for all amounts). Rates effective 25th October 2011.
Domestic deposits - less than 1 crore W.E.F. October 8, 2012
Domestic deposits - 1 crore to less than 5 crores W.E.F. October 8, 2012
Domestic deposits - Senior Citizen - less than 5 crore W.E.F. October 8, 2012
PERIOD INTEREST RATES ON DOMESTIC DEPOSITS (%) (p.a.)
DEPOSITS Low Value Term Deposits Senior Citizen
on
Deposits
Below Rs
15 lakhs
on Deposits
of Rs 15
lakhs < Rs
50 Lakhs
on Deposits
of Rs 50
lakhs < Rs 1
Crore
on Deposits
of Rs 1
Crore < Rs
3 Crore
on Deposits
of Rs 3
Crore < Rs
5 Crore
on
Deposits
below Rs.
50 lakhs
on Deposits
of Rs. 50
Lakhs <
Rs.5 Crore
7 days to 14
days
3.50 3.50 3.50 4.00 4.00 3.50 3.50
15 Days to 29
Days
3.50 3.50 3.50 4.00 4.00 3.50 3.50
30 days to 45
days
5.00 5.00 5.00 7.00 7.00 5.00 5.00
46 days to 60
days
6.25 6.25 6.25 7.00 7.00 6.25 6.25
61 days to
less than 3
months
6.50 6.50 6.50 7.00 7.00 6.50 6.50
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3 months to
less than 4
months
7.00 7.00 7.00 8.00 8.00 7.00 7.00
4 months to
less than 5
months
7.00 7.00 7.00 8.00 8.00 7.00 7.00
5 months to
less than 6
months
7.00 7.00 7.00 8.50 8.50 7.00 7.00
6 months to
less than 7
months
7.50 7.50 7.50 8.50 8.50 8.25 8.25
7 months to
less than 8
months
7.50 7.50 7.50 8.50 8.50 8.25 8.25
8 months to
less than 9
months
7.50 7.50 7.50 8.50 8.50 8.25 8.25
9 months to
less than 10
months
7.50 7.50 7.50 8.50 8.50 8.25 8.25
10 months to
less than 11
months
7.50 7.50 7.50 8.50 8.50 8.25 8.25
11 months to 7.50 7.50 7.50 8.50 8.50 8.25 8.25
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less than 1
year
1 year to less
than 13
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
13 months to
less than 14
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
14 months to
less than 15
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
15 months to
less than 16
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
16 months to
less than 17
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
17 months to
less than 18
months
8.50 8.50 8.50 8.50 8.50 9.25 9.25
18 months to
less than 2
years
9.00 9.00 9.00 9.00 9.00 9.75 9.75
2 years to less
than 30
9.00 9.00 9.00 9.00 9.00 9.75 9.75
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months
30 months to
less than 3
years
9.00 9.00 9.00 9.00 9.00 9.75 9.75
3 years to less
than 5 years
9.00 9.00 9.00 9.00 9.00 9.75 9.75
5 years up to
10 years
8.50 8.50 8.50 8.50 8.50 9.25 9.25
For interest rates on Fixed Deposits of Rs. 5 crore and above, please contact your nearest Axis
Bank branch.
Rates Effective from: Monday, October 15, 2012
INTEREST RATES ON TAX SAVER DEPOSITS
5 years only (Amount Capped at Rs. 1 lac per customer per Financial
Year)
INTEREST RATES(%)
(p.a.)
Regular Depositor (Individual & HUF) 8.25
Senior Citizen (Individual) 9.00
LOANS
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Home Loan Features
Apply Online for Home Loans
Car Loan Features
Apply Online for Car Loans
Education Loan
Personal Loan
Loan Against Shares
Loan Against Property
Loan Against Security
Loan Against Gold
CARDS
1. Credit cards
2. Debit cards
3. Prepaid cards
FOREX
Travel Currency Card
India Travel Card
Outward Remittances
Foreign Currency Travellers Cheques
Foreign Currency Cash
Foreign Exchange Rates
INVESTEMENTS
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Gold Mohurs
Silver Mohurs
Online Trading with AxisDirect
Mutual Funds
Demat Account
8% Savings Bonds
IPOSmart
Alternate Investment Products
INSURANCE
Life Insurance
Health Insurance
Home Insurance
Travel Insurance
Motor Insurance
INTRODUCTION
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IDBI Bank Ltd. is a Universal Bank with its operations driven by a cutting edge core Banking IT
platform. The Bank offers personalized banking and financial solutions to its clients in the retail
and corporate banking arena through its large network of Branches and ATMs, spread across
length and breadth of India. We have also set up an overseas branch at Dubai and have plans to
open representative offices in various other parts of the Globe, for encashing emerging global
opportunities. Our experience of financial markets will help us to effectively cope with
challenges and capitalize on the emerging opportunities by participating effectively in our
country’s growth process.
As on March 31, 2012, the Bank had a network of 973 Branches and 1542 ATMs. The Bank's
total business, during Fy 2011-12, reached Rs. 3,91,651 Crore, Balance sheet reached Rs.
2,90,837 Crore while it earned a net profit of Rs. 2032 Crore (up by 23.15 %).
VISSION
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Our vision for the Bank is “TO BE THE MOST PREFERRED AND TRUSTED BANK
ENHANCING VALUE FOR ALL STAKEHOLDERS”.
MISSION
BANK PROFILE
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Profile of
the
Bank
IDBI Bank Ltd. is today one of India's largest commercial Banks. For over 40 years,
IDBI Bank has essayed a key nation-building role, first as the apex Development
Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of
industry and thereafter as a full-service commercial Bank (October 1, 2004 onwards).
As a DFI, the erstwhile IDBI stretched its canvas beyond mere project financing to
cover an array of services that contributed towards balanced geographical spread of
industries, development of identified backward areas, emergence of a new spirit of
enterprise and evolution of a deep and vibrant capital market. On October 1, 2004, the
erstwhile IDBI converted into a Banking company (as Industrial Development Bank of
India Limited) to undertake the entire gamut of Banking activities while continuing to
play its secular DFI role. Post the mergers of the erstwhile IDBI Bank with its parent
company (IDBI Ltd.) on April 2, 2005 (appointed date: October 1, 2004) and the
subsequent merger of the erstwhile United Western Bank Ltd. with IDBI Bank on
October 3, 2006, the tech-savvy, new generation Bank with majority Government
shareholding today touches the lives of millions of Indians through an array of
corporate, retail, SME and Agri products and services.
Headquartered in Mumbai, IDBI Bank today rides on the back of a robust business
strategy, a highly competent and dedicated workforce and a state-of-the-art
information technology platform, to structure and deliver personalised and innovative
Banking services and customised financial solutions to its clients across various
deliverychannels.
As on March 31, 2012, IDBI Bank has a balance sheet of Rs.2.91 lakh crore and
business size (deposits plus advances) of Rs.3.92 lakh crore. As an Universal Bank,
IDBI Bank, besides its core banking and project finance domain, has an established
presence in associated financial sector businesses like Capital Market, Investment
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Banking and Mutual Fund Business. Going forward, IDBI Bank is strongly committed
to work towards emerging as the 'Bank of choice' and 'the most valued financial
conglomerate', besides generating wealth and value to all its stakeholders.
HISTORY
Industrial Development Bank of India
Industrial Development bank of India (IDBI) was constituted under Industrial Development bank
of India Act, 1964 as a Development Financial Institution and came into being as on July 01,
1964 vide GoI notification dated June 22, 1964. It was regarded as a Public Financial Institution
in terms of the provisions of Section 4A of the Companies Act, 1956. It continued to serve as a
DFI for 40 years till the year 2004 when it was transformed into a Bank.
Industrial Development Bank of India Limited
In response to the felt need and on commercial prudence, it was decided to transform IDBI into a
Bank. For the purpose, Industrial Development bank (transfer of undertaking and Repeal) Act,
2003 [Repeal Act] was passed repealing the Industrial Development Bank of India Act, 1964. In
terms of the provisions of the Repeal Act, a new company under the name of Industrial
Development Bank of India Limited (IDBI Ltd.) was incorporated as a Govt. Company under the
Companies Act, 1956 on September 27, 2004. Thereafter, the undertaking of IDBI was
transferred to and vested in IDBI Ltd. with effect from the effective date of October 01, 2004. In
terms of the provisions of the Repeal Act, IDBI Ltd. has been functioning as a Bank in addition
to its earlier role of a Financial Institution.
Merger of IDBI bank Ltd. with IDBI Ltd.
Towards achieving the faster inorganic growth of the Bank, IDBI Bank Ltd., a wholly owned
subsidiary of IDBI Ltd. was amalgamated with IDBI Ltd. in terms of the provisions of Section
44A of the Banking Regulation Act, 1949 providing for voluntary amalgamation of two banking
companies. The merger became effective from April 02, 2005.
Merger of United Western bank with IDBI Ltd.
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The United Western bank Ltd. (UWB), a Satara based private sector bank was placed under
moratorium by RBI. Upon IDBI Ltd. showing interest to take over the said bank towards its
further inorganic growth, RBI and Govt. of India amalgamated UWB with IDBI Ltd. in terms of
the provisions of Section 45 of the Banking Regulation Act, 1949. The merger came into effect
on October 03, 2006.
Change of name of IDBI Ltd. to IDBI Bank Ltd.
In order that the name of the Bank truly reflects the functions it is carrying on, the name of the
Bank was changed to IDBI Bank Limited and the new name became effective from May 07,
2008 upon issue of the Fresh Certificate of Incorporation by Registrar of Companies,
Maharashtra. The Bank has been accordingly functioning in its present name of IDBI Bank
Limited.
BOARD OF DIRECTORS
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Management
&Organisation
IDBI Bank is a Board-managed organisation. The responsibility for the
day-to-day management of operations of the Bank is vested with the
Chairman & Managing Director and Deputy Managing Director, who draw
upon the support and expertise of a cross-disciplinary Top Management
Team. IDBI Bank Ltd.'s employee base includes professionals from the
fields of accountancy, management, engineering, law, computer
technology, banking and economics.
Board of Directors (position as on July 8, 2012)
Mr. R. M. Malla
(Chairman & Managing Director)
Mr. B. K Batra
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(Deputy Managing Director)
Mr. Sunil Soni Mr. Pradeep Kumar Chaudhery
Mr. Subhash Tuli Mr. P.S. Shenoy
Mr. S. Ravi Mr. Ninad Karpe
PRODUCTS AND SERVICES
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DEPOSITS
Savings Account
Corporate Payroll Accounts
Current Account
Fixed Deposits
1. Savings Account
At IDBI Bank, we believe that different people have different needs. Thus, we offer
various different types of Savings Account to cater to our diverse customer base. Be it
individuals, kids, women, corporates, senior citizens, we have an account tailor-made for
each one of them. The various types of Savings Account offered By IDBI Bank are as
follows:
Choose from various range of Personal Banking services like:
SuperSavings Account
SuperShakti (Womens') Account
Jubilee Plus (Senior Citizens) Account
Being Me Account
Power Kidz Account
Sabka Savings Account - Relaxed KYC
Sabka Basic Savings Account – Complete KYC
Pension Savings Account (Central Government Employees)
At IDBI Bank, it is our constant endeavor to provide you products and services that will enhance
your banking experience. From time to time we identify your needs and produce quality products
that will simplify banking for you. Our extensive branch and ATM network, technology
initiatives, and correspondent banking arrangement with banks across the globe have leveraged
us to provide superior services.
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Savings Account Interest Rate - 4.00% p.a. (w.e.f. May 03,2011)
Corporate Payroll Account At IDBI Bank, we understand your needs as an employer. In this
fast paced world with ambitious targets and mounting pressures, you want to provide your
employees nothing but the best in terms of banking convenience. Our Salary account product
with no minimum balance requirement, instant account opening, and reimbursement account is
just the right solution for you. The types of Salary Accounts that we offer are as follows:
Imperial Salary Account
Crown Salary Account
Star Salary Account
Prime Salary Account
Pride Salary Accounts
Indian Army Salary Accounts
Indian Navy Salary Accounts
Note:
Salary Account is a special account offered to customers with regular direct salary credits
coming into this account. In case, the monthly salary is not credited into the account for more
than 3 consecutive months, the special features offered under Salary account shall stand
withdrawn and the account shall be treated as Normal Savings Account.
DEPOSITS
2. Current Account
Each customer is unique and his requirement is also unique. IDBI Bank offers various current
accounts to fulfill the requirement of customers from different segments. The total gamut of
offering is given below.
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Core
Trade Plus
Special
Bronze Plus
Silver
Premium
Premium Special
FIXED
DEPOSIT
Wide range of tenures.
Choice of investment plans.
Partial withdrawal permitted.
Auto renewal possible.
Loan facility available.
Features
You can invest in our Fixed Deposit for as long as you wish between 15 days to
10 years.
All fixed deposits come with a set choice of investment plans. Re-investment
Fixed Deposit rates do not change but work like a Recurring Debit Account
transaction. In other words, Re-investment Plans are compounded over
traditional deposits and hence are more lucrative over different time periods.
Benefits
Fixed Deposits at IDBI Bank comes with nomination facility. We also offer
online access to your Fixed Deposits through our Internet Banking channel.
Internet Banking at IDBI Bank allows you to connect your Fixed Deposit with
your savings account.Interest on our Fixed Deposits for Quarterly
Payout/Quarterly Compunding are calculated on Calendar Quarter basis.
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Suvidha Fixed Deposit
Suvidha Tax Saving Fixed Deposit
Suvidha Suraksha Recurring Deposit
Recurring Deposit
Godhuli Retail Term Deposit
Floating Rate Term Deposit
INTERNET
BANKING
Welcome to world-class banking at IDBI Bank.
In today's digital world, Internet banking assumes a special significance.
Realising that the default access to your banking information in the near future
would be only through the Internet, we at IDBI Bank have made available to you
a globally benchmarked Internet Banking facility.
With IDBI's Internet Banking, your Bank travels with you around the world and
you have on-line, real-time access to your accounts.
Admittedly, such a service requires security of the highest
nature and complete privacy protection. We provide a
completely secure environment, using 128-bit encryption SSL
(Secure Sockets Layer), digitally certified by Verisign. 128-bit SSL guarantees
world-class security for Internet and e-commerce applications. Click on the
image to verify the certificate.
.
LOANS
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We, at IDBI Bank offer a wide range of loan products to suit all your needs ranging from home
to education, a holiday to buying a laptop. Select from our loan offerings and we shall be glad to
service you on the same. The various loan offerings by IDBI Bank are as follows:
Choose from various range of Personal Banking services like:
Home Loans
Loan Against Property
Education Loan
Personal Loan
Loans Against Securities
Reverse Mortgage Loan
Auto loans
Pay your taxes
conveniently
through us
The Reserve Bank of India and the Central Board of Direct Taxes have
authorised us to collect all direct taxes (Corporation Tax and Income Tax).
You can now pay your income and corporate tax without any hassels.
Click here to pay your direct tax online
You can pay following types of direct taxes through us:
Corporation tax
Income tax
Wealth tax
Dividend distribution tax
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Securities transaction tax
Fringe benefits tax
Banking cash transaction tax
It includes following kinds of tax payments, which is usually done by you
periodically:
Advance tax
Self assessment tax
TDS on salaries
TDS on rent
TDS on interest on securities or borrowings
TDS on professional or technical services payments
TDS on contractors' payments
TDS on insurance commissions paid
TDS on income distribution to unit holders by mutual funds
TDS on repurchase payments of mutual fund units
TDS on game shows and lottery prize payments
TDS on commission on sale of lottery tickets
PHONE
BANKING
Welcome to world-class banking at IDBI Bank.
At IDBI Bank, we endeavour to raise the bar to meet the rising requirements of
our customers, by providing quality products and services to suit varied
banking needs. Our Phone Banking service is yet another, technology and
customer centric step in that direction.
IDBI Bank Phone Banking service enables you to access authentic,
instantaneous information on your account balances and transactions. The
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service is available totally free of cost round the clock, 365 days a year.
To view the different services that are available through our Phone Banking
facility, click here. A telephone and your 4-digit TIN (telephone identification
number) is all that you need to access your account.
MOBILE
BANKING
Welcome to world-class banking at IDBI Bank.
Business is on the move and so are the people who conduct it. For you to enjoy
banking convenience while on the move, IDBI Bank is here with its SMS
Banking facility. Our SMS banking initiatives permit you to access your Bank
account and carry out various banking transcations and inquires. No need of
visiting the bank time and again!
NON-WAP Enabled Mobile Phones
If you have a non-WAP enabled mobile phone, you can use the SMS facility
and conduct the following operations using the messaging services of your
service provider.
Balance enquiry
Last three transaction
Cheque payment status
Cheque book
Statement request
Demat - free balance holding
Demat - last two transactions
Bill payment
WAP Enabled Mobile Phones If you are WAP enabled mobile phone user, you
can do interactive banking with us. If you need to draw cash while you travel,
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your mobile will indicate to you the nearest IDBI branch and its phone
number. Transactions using WAP are WAP-WTLS compliant (meaning you
have the comfort of transacting at the highest level of security standard
available internationally).
IDBI BANK DEBIT CARDS
Being Me Debit Card
International Debit-cum-ATM Card
Gold Debit-cum-ATM Card
IDBI Bank Cash Card
IDBI Bank Gift Card
World / Global Currency Card
Kids Debit Card
Platinum Card
Debit Card Offers
AGRI BUSINESS GROUP
India is a nation of villages. Agriculture and allied activities have been the main source of
livelihood of our rural populace since times immemorial. The sector provides source of
employment and livelihood to over 60% of the population. Its linkages with industry are growing
with increasing stress on food and agri processing industry on account of changing demand
patterns for processed food by consumers. With this background Corporate India has started
finding new opportunities in Agriculture.
IDBI Bank constantly emphasizes on lending to Agricultural sector. Bank has several Agri
products viz. Warehouse receipt, Contract farming etc. to uplift the socio–economic status of
rural population.
COMPARISO
N RESULT
IDBI BANK
After the amalgamation of IDBI with IDBI Bank and later with the
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beleaguered United Western Bank (UWB) in 2006, the bank has
managed to integrate the additional branches and employees with
itself. The bank had a franchise of over 1,200 ATMs and 720
branches at the end of March 2010. Retail assets constituted 16% of
advances in FY10, up from 13% in FY05.
AXIS BANK
Axis Bank is one of the most aggressive players in the private sector
banking industry having more than tripled its share in non-food
credit over the last 9 years from 1% in FY02 to 3.6% in FY12. Axis
Bank has set up a network of 9,925 ATMs, the third largest in the
country. During the period FY07 to FY12, Axis Bank has grown its
advances at a compounded annual rate of 47%, against the industry
average of 27%. The bank acquired Enam's investment banking
business by issue of shares in 1QFY13.
EQUITY SHARE DATA
IDBI BANK AXIS BANK IDBI BANK/
31/3/2011 31/3/2012 AXIS BANK
High Rs 202.0 1,460.0 13.8%
Low Rs 106.0 921.0 11.5%
Sales per share Rs 189.1 532.3 35.5%
Earnings per share Rs -3.2 74.5 -4.3%
Cash flow per share Rs 22.1 222.1 10.0%
Dividends per share Rs 3.50 16.00 21.9%
Dividend yield (eoy) % 2.3 1.3 169.1%
Book value per share Rs 148.0 548.9 27.0%
Shares outstanding (eoy) m 984.57 413.20 238.3%
Bonus/Rights/Conversions PI,ESOP ESOP -
Price / Sales ratio x 0.8 2.2 36.4%
Avg P/E ratio x -48.3 16.0 -302.4%
P/CF ratio (eoy) x 7.0 5.4 129.9%
Price / Book Value ratio x 1.0 2.2 48.0%
Dividend payout % -109.9 21.5 -511.4%
Avg Mkt Cap Rs m 151,624 491,915 30.8%
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No. of employees `000 14 32 42.8%
Total wages/salary Rs m 10,840 22,540 48.1%
Avg. sales/employee Rs Th 13,690.6 6,930.1 197.6%
Avg. wages/employee Rs Th 797.2 710.2 112.2%
Avg. net profit/employee Rs Th 1,149.8 1,329.6 86.5%
INCOME DATA
Net Sales Rs m 186,165 219,949 84.6%
Other income Rs m 22,217 54,872 40.5%
Total revenues Rs m 208,382 274,821 75.8%
Gross profit Rs m 167,394 208,534 80.3%
Depreciation Rs m 24,919 60,999 40.9%
Interest Rs m 142,702 139,691 102.2%
Profit before tax Rs m 21,990 62,716 35.1%
Minority Interest Rs m 0 0 -
Prior Period Items Rs m 0 0 -
Extraordinary Inc (Exp) Rs m 0 0 -
Tax Rs m 6,355 20,518 31.0%
Profit after tax Rs m 15,635 42,198 37.1%
Gross profit margin % 89.9 94.8 94.8%
Effective tax rate % 28.9 32.7 88.3%
Net profit margin % 8.4 19.2 43.8%
BALANCE SHEET DATA
Current assets Rs m 1,570,981 1,697,595 92.5%
Current liabilities Rs m 0 0 -
Net working cap to sales % 843.9 771.8 109.3%
Current ratio x 43.0 43.0 100.0%
Inventory Turnover Days 0 0 -
Debtors Turnover Days 0 0 -
Net fixed assets Rs m 30,598 22,841 134.0%
Share capital Rs m 9,846 4,132 238.3%
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"Free" reserves Rs m 91,837 173,396 53.0%
Net worth Rs m 145,700 226,817 64.2%
Long term debt Rs m 515,697 340,717 151.4%
Total assets Rs m 2,535,576 2,854,165 88.8%
Interest coverage x 1.2 1.4 79.6%
Debt to equity ratio x 3.5 1.5 235.6%
Sales to assets ratio x 0.1 0.1 95.3%
Return on assets % 6.2 6.4 98.0%
Return on equity % 10.7 18.6 57.7%
Return on capital % 24.9 35.7 69.8%
Exports to sales % 0.0 0.0 -
Imports to sales % 0.0 0.0 -
Net fx Rs m 0 0 -
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