A

PROJECT REPORT
ON
ICICI SAVING BANK ACCOUNT

TECNIA INSTITUTE OF ADVANCED STUDIES

Guru Gobind Singh Indraprastha University

Submitted By:
SHAILAV SAH
ROLL NO:06221303915
MBA II SHIFT,DIV-B

COMPANY PROFILE:
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 allstock amalgamation in fiscal 2001, and secondary market sales by 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.

COMPANIES FINANCIAL STATUS AS ON 31ST MARCH

2015:
ICICI Bank is India's largest private sector bank with total assets of Rs. 6,461.29 billion (US$
103 billion) at March 31, 2015 and profit after tax Rs. 111.75 billion (US$ 1,788 million) for the
year ended March 31, 2015. ICICI Bank currently has a network of 4,050 Branches and 13,082
ATM's across India.

ICICI GROUP COMPANIES:

ICICI GROUP
ICICI PRUDENTIAL LIFE INSURANCE COMPANY
ICICI SECURITIES
ICICI LOMBARD GENERAL INSURANCE COMPANY
ICICI PRUDENTIAL AMC AND TRUST
ICICI VENTURES
ICICI DIRECT
ICICI FOUNDATION
DISHA FINANCIAL COUNSELLING.

TYPES OF SAVINGS ACCOUNT

1. TITANIUM PRIVILEGE ACCOUNT
2. GOLD PRIVILEDGE BANKING
3. SILVER SAVING ACCOUNT
4. REGULAR SAVING ACCOUNT

5. ADVANTAGE WOMAN SAVINGS ACCOUNT

6. SENIOR CITIZENS SAVINGS ACCOUNT
7. YOUNG STARS ACCOUNT
8. ZERO SAVINGS BANK ACCOUNT
9. OTHER ACCOUNTS.

TITANIUM PRIVILEGE ACCOUNT

Titanium Privilege Savings Account is designed to offer range of products and services that will
make banking convenient and simple not only for you but for your family members as well.
Experience effortless banking for your family.

Features
Privilege banking benefits for you and your family members
Free Titanium Privilege Debit Card with exciting offers & Visa Privileges
Unlimited cash withdrawal transactions at any bank's ATM, free of charge
Avail 40% discount on annual locker rentals
Waiver on Trading account opening fee of Rs. 975 and first year Demat Annual
maintenance Charges (AMC) of Rs. 500
Free Anywhere banking
Money Multiplier facility

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB)* required to be maintained for a new
Titanium Privilege Account is Rs.1,25,000. Non-maintenance of MAB in any month will attract
a charge as per the following guidelines.

MAB maintained in the account*

Charges to be levied*

Rs. 50,000 =< MAB < Rs. 1,25,000

Rs. 50 per month

Rs. 25,000 =< MAB < Rs. 50,000

Rs. 100 per month

Rs. 10,000 =< MAB < Rs. 25,000

Rs. 175 per month

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000

Rs. 350 per month

Waiver of non-maintenance of MAB charges subject to FD of minimum Rs.6.25 lacs in the same
CUST ID.
Non-maintenance of MAB charges are not applicable to Salary customers.
* The above is applicable for customers who have opened a Titanium Privilege Account or
upgraded an existing account to a Titanium Privilege Account on or after December 1, 2012.
The minimum Monthly Average Balance (MAB)** required to be maintained for a Titanium
Privilege Account is Rs. 75,000. Non-maintenance of MAB in any month will attract a charge as
per the following guidelines:

MAB maintained in the account*

Charges to be levied*

Rs. 50,000 =< MAB < Rs. 75,000

Rs. 50 per month

Rs. 25,000 =< MAB < Rs. 50,000

Rs. 100 per month

Rs. 10,000 =< MAB < Rs. 25,000

Rs. 175 per month

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000

Rs. 350 per month

Non-maintenance of MAB charges waived off subject to FD of min Rs. 3.75 lacs in the same
CUST ID.
Non-maintenance of MAB charges is not applicable for Salary customers.
** The above is applicable for customers who have opened a Titanium Privilege Account or
upgraded an existing account to a Titanium Privilege Account on or before November 30, 2012.

Gold Privilege Savings Account

Enjoy exclusive banking benefits and services with Gold Privilege Savings Account is designed
to offer range of products and services that will make your banking convenient and simple.
he account is available for Resident Individual (sole or joint account), Foreign national and
Hindu undivided family (HUF) customers, above age of 18 years.
This account is also available for minor customers below 18 years and Senior citizen customers
who have completed 60 years.

Features
Free Gold Privilege Debit Card with exciting offers & Visa Privileges
Unlimited cash withdrawal transactions at any banks ATM, free of charge
Avail 20% discount on annual locker rentals
Waiver on Trading account opening fee of Rs. 975 and first year Demat Annual
Maintenance Charges (AMC) of Rs. 500
Free Anywhere banking
Money Multiplier facility

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) required to be maintained for a Gold
Privilege Account is Rs. 50,000. Non-maintenance of MAB in any month will attract a
charge* as per the following guidelines:

MAB maintained in the account

Charges to be levied*

Rs. 25,000 =< MAB < Rs. 50,000

Rs. 100 per month

Rs. 10,000 =< MAB < Rs. 25,000

Rs. 175 per month

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000/-

Rs. 350 per month

*Non-maintenance of MAB charges waived off subject to FD of min Rs.2.5 lacs in the same
CUSTOMER
*The above is applicable for customers who have opened or upgraded to Gold Privilege Banking
account on or after August 21, 2008. Non-maintenance of MAB charges not applicable to Salary
customers

Silver Savings Account More benefits for

Special Customers
Go for ICICI Banks Silver Savings Account for added benefits such as lower locker rental,
waiver of DD/PO charges and SMS alert facility on top of all the benefits you get with a
savings account! Do your banking through the internet, over the mobile phone or with help of
our Customer Care

FEATURES

Smart Shopper Silver Debit Card with exciting offers and Visa Privileges
Make unlimited cash withdrawals from any banks ATM, free of charge
Free Anywhere banking
Get 15% discount on annual locker rentals
Money multiplier facility: Earn more on your savings account

Eligibility
The account is available for Resident Individual (sole or joint account), Foreign national and
Hindu undivided family (HUF) customers, above age of 18 years.

This account is also available for minor customers below 18 years and Senior citizen customers
who have completed 60 years.

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) to be maintained in your Silver Savings
Account is Rs.25,000. Non-maintenance of MAB in any month will attract a charge* as per
the following guidelines:

MAB maintained in the account

Charges to be levied

Rs. 10,000 =< MAB < Rs. 25,000

Rs. 175 per month

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000

Rs. 350 per month

*Waiver of non-maintenance of MAB charges subject to FD of min Rs.1.25 lac in the same
Customer Id.
*The above is applicable for customers who have opened or upgraded to Silver Savings
Account on or after August 21, 2008. Non-maintenance of MAB charges not applicable to
Salary customers.

Regular Savings Account Banking with

Convenience
Experience the convenience of anytime, anywhere banking with ICICI Banks Regular Savings
Account. Do routine transactions such as bill payments, FD creation requests and balance
enquiry through multiple channels such as Internet Banking, Mobile Banking or Customer Care.
To enjoy all these benefits, just open a savings account with ICICI Bank.

Features
Smart Shopper Silver Debit card with exciting offers & Visa Privileges Money Multiplier
Facility
Free Internet and Mobile Banking
Manage your finances anywhere, anytime, conveniently and securely, with ICICI Banks
Internet Banking and Mobile Banking services

Eligibility
Savings account is available for Resident Individual (sole or joint account), Foreign national and
Hindu undivided family (HUF) customers, who are above 18 years. Customers below 18 years,
can open a Young Stars Savings Account and above 60 years can open a Life Plus Senior
Savings Account.

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) required to be maintained for a Savings
Account is Rs.10,000/- in metro and urban locations, Rs. 5,000/- in semi-urban and Rs. 2,000/- in
rural locations.

Metro/ Urban locations -

MAB maintained in the account

Charges to be levied

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000

Rs. 350 per month

Semi Urban locations -

MAB maintained in the account

Charges to be levied

Rs. 2,500 =< MAB < Rs. 5,000

Rs. 250 per month

MAB < Rs. 2,500

Rs. 350 per month

Rural locations -

MAB maintained in the account

Charges to be levied

Rs. 1,000 =< MAB < Rs. 2,000

Rs. 250 per month

MAB < Rs. 2,000

Rs. 350 per month

Advantage Woman Savings Account

Get special benefits that we have packed in for our women customers, such as unlimited cash
withdrawals across all ATMs and a debit card that gives back more rewards. The Advantage
Woman Savings Account is designed keeping your needs in mind.

Features
A Special Women's Debit card

 Unlimited cash withdrawals at any banks ATM, free of charge

Money Multiplier facility

Eligibility
The account can be opened with primary applicant as any resident Indian woman (majors above
18 years).

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) to be maintained in your Advantage Woman
Savings Account is Rs.10,000.

Non-maintenance of MAB in any month will attract a charge as per the following guidelines:

MAB maintained in the account

Charges to be levied

Rs. 5,000 =< MAB < Rs. 10,000

Rs. 250 per month

MAB < Rs. 5,000

Rs. 350 per month

Life Plus Senior Citizens Account

Carry out your day-to-day banking transactions independently with ICICI Banks Life Plus
Senior Citizens Savings Account, a saving account designed for our customers above 60 years of
age.

We have special Senior Citizen desks at all our branches, where you can carry out all your
banking transactions, without having to wait in queues.

Features
Special Senior Citizens Desk for all your banking transactions, saving the wait in queues

Special Senior Life Plus Debit card, free of charge

Free and unlimited cash transactions at branch
Free SMS alert facility
Money Multiplier facility

Eligibility
The account is available for Resident Individual (sole or joint account), Foreign national and
Hindu undivided family (HUF) customers, above age of 60 years.

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) to be maintained in your Life Plus Senior
Citizen Savings Account is Rs.5,000.

Non-maintenance of MAB in any month will attract a charge as per the following guidelines:

MAB maintained in the account

MAB < Rs. 5,000

Charges to be levied

Rs. 100 per month

Young Stars and Smart Star Savings Account

You can open and operate the account to plan your childs need, right from a young age.

Features of Young Stars Savings Account

Free Young Stars Debit Card - This will help your child to directly make purchases
through a POS (Point of Sale) machine available at most stores and also withdraw cash
from any ATMs
Choose Young Stars debit card with limits of Rs. 1,000 / Rs. 2,500 / Rs. 5,000 for
shopping and cash withdrawal each day
Special Internet Banking
Standing Instructions Facility to debit money from parents account to the youngstars
account.
Money Multiplier Facility

Smart Star Savings Account

A minor above the age of 10 years, can open and operate the account all by themselves. This
will inculcate habit of savings and a responsibility to spend wisely.

Features of Smart Star Savings Account

Free Personalised debit card with spend and withdrawal limit of Rs. 5000
Personalised cheque book cheques can be issued by the child

 Free Internet Banking access

Free Mobile Banking AccesFree email statement
Pre-paid Mobile recharge facility
Smart Star account comes in two variants

Smart Star Savings Account with Guardian Consent has a debit transaction limit of Rs.
2 Lacs in a financial year.
Smart Star Savings Account without Guardian Consent has a debit transaction limit of
Rs. 50000 in a financial year
In case of breach of debit transaction limit account is frozen

Eligibility

Young Stars Account:This is a banking service for children in the age group of 1day-18
years. The guardian can open and operate the account on behalf of the minor.

Smart Star Account:Minors above 10 years of age, can independently open and operate
the account.

Monthly Average Balance (MAB) requirement

The minimum Monthly Average Balance (MAB) to be maintained is Rs.2,500.
Non-maintenance of MAB in any month will attract a charge as per the following guidelines:

MAB maintained in the account

Charges to be levied

MAB < Rs. 2,500

Rs. 100 per month

Zero Balance Saving Account

Basic Savings Account
You dont have to keep any minimum Monthly Average Balance (MAB) with our Basic Savings
Bank Account its a zero balance Saving Account!

The ICICI Bank Edge

This is a zero balance Saving Account so your monthly average balance requirement is nil
You pay no charges on your ICICI Bank debit card
You get one chequebook of 15 leaves free every year. You can request for an additional
cheque book (10 leaves) at Rs. 20 (plus Service Tax as applicable) per chequebook.
You pay no charges on Internet Banking You pay no charges on cash deposit transactions
at base branch (Branch where the account is opened)
You get to make four free transactions every month at your base branch, thereafter, a
charge of Rs 90 is levied on each transaction
Cash transactions at non base branch (Branches in the city where the account is opened,
other than the base branch) within the city are chargeable at Rs 90 per transaction
Anywhere cash transactions (cash transactions at branches in cities other than where the
account is opened) are chargeable at normal rates, as published from time to time
Interest is payable half yearly

Basic Savings Account opened under Pradhan Mantri Jan Dhan

Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a plan for National Mission for Financial
Inclusion launched by The Department of Financial Services (DFS), Ministry of Finance,
Government of India. This plan will ensure access to financial services and timely &
adequate credit to the excluded sections i.e. the low income groups. The initiative was
launched on August 15, 2014. Basic Savings Bank Accounts are opened under PMJDY.
Accounts opened under PMJDY will have the following features:

 Free Passbook**
Free Personalised Rupay Debit Card**

Free cheque leaves**

If bank identifies that the customer has any other Savings Bank Account, the Basic Savings
Account opened with ICICI Bank will be closed.

** All deliverables are to be collected from the base branch on the activation of the Basic
Savings Account opened under PMJDY.

Pockets Zero Balance Account

Pockets by ICICI Bank is a unique all-in-one offering that gives you benefits of an app, a card
and a Savings Account in one go. This cool wallet can be instantly downloaded on your mobile
and you can immediately start using it for payments. Also, apply for a zero balance Savings
Account from your app to get higher transaction limits, open deposits and get your debit card.
You will need to have your documents ready and we will open your Pockets Savings Account
through our super quick Tab Banking facility.

Key Features of Pockets Savings Account:

Single user ID for Savings Account as well as Pockets account
Zero Balance Savings Account
Free monthly E-mail statement
Customised Pocket Debit Card with offers
Free NEFT transactions
Free 10 leaves cheque book in a year
Value added benefits
Upgrade your debit card to expression card

 Achieve your goals through iWish

Nomination
There can be only one nominee for the account
Applicants can select a nominee by filling up the form as prescribed under the Banking
Companies (Nomination) Rules 1985
The nomination details can be changed during the subsistence of the account relationship
by filling up the form prescribed under the Banking Companies (Nomination) Rules 1985

SWOT ANALYSIS
Strengths of ICICI Bank

ICICI is the second largest bank in terms of total assets and market share
Total assets of ICICI is Rs. 4062.34 Billion and recorded a maximum profit after tax of
Rs. 51.51 billion and located in 19 countries
One of the major strength of ICICI bank according to financial analysts is its strong and
transparent balance sheet
ICICI bank has first mover advantage in many of the banking and financial services.
ICICI bank is the first bank in India to introduce complete mobile banking solutions and
jewelry card
The bank has PAN India presence of around 2,567 branches and 8003 ATMs
ICICI bank is the first bank in India to attach life style benefits to banking services for
exclusive purchases and tie-ups with best brands in the industry such as Nakshatra, Asmi,
Ddamas etc

 ICICI bank has the longest working hours and additional services offering at ATMs
which attracts customers
Marketing and advertising strategies of ICICI have good reach compared to other banks
in India

Weaknesses of ICICI Bank

Customer support of ICICI section is not performing well in terms of resolving

complaints
There are lot of consumer complaints filed against ICICI
The ICICI bank has the most stringent policies in terms of recovering the debts and loans,
and credit payments. They employ third party agency to handle recovery management
There are also complaints of customer assault and abuse while recovering and the credit
payment reminders are sent even before the deadlines which annoys the customers
The bank service charges are comparatively higher
The employees of ICICI are bank in maximum stress because of the aggressive policies
of the management to win ahead in the race. This may result in less productivity in future
years

Opportunities of ICICI Bank

Banking sector is expected to grow at a rate of 17% in the next three years
The concept of saving in banks and investing in financial products is increasing in rural
areas as more than 62% percentage of Indias population is still in rural areas.
As per 2010 data in TOI, the total number b-schools in India are more than 1500. This
can ensure regular supply of trained human power in financial products and banking
services

 Within next four years ICICI bank is planning to open 1500 new branches
Small and non performing banks can be acquired by ICICI because of its financial
strength
ICICI bank is expected to have 20% credit growth in the coming years.
ICICI bank has the minimum amount of non performing assets

Threats of ICICI Bank

RBI allowed foreign banks to invest up to 74% in Indian banking

Government sector banks are in urge of modernizing the capacities to ensure the
customers switching to new age banks are minimized
HDFC is the major competitor for ICICI, and other upcoming banks like AXIS, HSBC
impose a major threat
In rural areas the micro financing groups hold a major share
Though customer acquisition is high on one side, the unsatisfied customers are increasing
and make them to switch to other banks