Comparing SBI Pehla Kadam & Pehli Udaan, HDFC Kids Advantage Account & Junior Savings

Account on 7P

Product Price Process Promotion People Place Physical

Evidence
HDFC Kid’s Free cash Open bank Free Education Minor & Physical Debit Card,
advantage withdrawal, free account for Insurance cover parents banking Insurance
account with passbook, free minors of Rs.1,00,000/-, locations Cover &
automatic e-mail below age of Easy Banking & Online withdrawal
monthly statement, free 18, Minors with Debit Card, Facility limits
transfer to net banking above the child can
their child’s facilities, min age of 10 withdraw Rs.
account via balance 5000 years are 2,500 at ATMs
standing eligible to and spend Rs.
instructions open self- 10,000 at
operated merchant
minor locations per
account day

SBI Pehla Kadam Transaction Jointly with Personalised Minor of Physical Smart
and Pehli limit of ₹ 5,000 the Parent/ chequebook, any age. banking Scholar
Udaan will not per day, in case Guardian or Auto sweep This locations (Market
only help of internet Singly by account , Online Linked) -
children learn banking, and Parent/ will be Facility, Child Plan
the of ₹ 2,000 with Guardian, jointly mobile offered by
importance of mobile banking DOB proof of opened banking SBI Life,
saving money minor, KYC with the PERSONAL
but will also of parent parent/ ACCOUNT
allow them to guardian INFORMATI
experiment ON, ATM
with the cum debit
'buying power' card
of money

KOTAK Junior Account Rs 2000 MAB, Documentati Junior foodie, Minor & Across all Personalize
is specifically tenure 36 on: ID proof, day out, parents Kotak d junior
designed to months signature shopper, Mahindr debit card
teach children and address learner, social a
the benefits of proof media branches
saving, while
also providing
a host of
privileges
across dining,
edutainment
and shopping
on kids’
brands.

1
 Comparing SBI Pehla Kadam & Pehli Udaan, HDFC Kids Advantage Account & Junior Savings
Account on 4C

Costs Convenience Communications Clients

SBI Minimum Balance - 5000 Cheque book Video Advertisements Kids

ATM/Debit card Apps Age 10-18
Mobile Banking Email
Over draft Social media
Smart Scholar

HDFC Minimum Balance - 5000 Cheque book Video Advertisements Kids

Service Charges - 150 -300/- ATM/Debit card Apps >10
Mobile Banking Email
Over draft Social media
Insurance cover In store Promotions
School Registration campaigns

Discount promotions (Junior food,

Kotak Minimum Balance - 5000 Recurring Deposit Junior Angel) Kids
Investment Plans Vouchers >10
ATM/Debit card Apps
Mobile Banking Email
Over draft Social media
Supplementary
Services (Junior Day
out, Shopper, Learner) In store Promotions
Video Advertisements

Recommendation

Based on our analysis, using the 7 P and 4C framework analysis, comparison among HDFC, SBI and
Kotak Mahindra, we see that HDFC is offering 7% interest rate as against the other two offers, that
are offering 6% interest rate. Also, education insurance is 1 Lakh, free net banking facilities, phone
banking and mobile banking, rolling FD facility, ATM debit card with Rs2500 withdrawal and Rs10000
expenditure are the highlights of HDFC.

2
Links to advertisements
Kotak Mahindra Junior Account
https://www.youtube.com/watch?v=_ck_BcvDNtw
https://www.youtube.com/watch?v=_VSrYic3lko

SBI
https://www.youtube.com/watch?v=9y_INQvHy8g

HDFC Bank
https://www.google.com/search?q=hdfc+bank+kids+savings+account&rlz=1C1CHBF_enIN798IN798
&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjS-
NbwqZ3jAhX54XMBHSsKDewQ_AUIESgC&cshid=1562314229246878&biw=1536&bih=722#imgrc=O
3KhmmInxRM83M: