A digitally signed policy is issued immediately through our online facility.
Access to over 2700+ network garages for cashless claims servicing across India.
Optional Personal Accident cover for co-passengers
Avail NCB on renewals if no claim is made during the previous policy period.
Transfer all No Claim Bonus (NCB) benefits when shifting your motor insurance policy to ICICI Lombard.*
5% discount for recognised Automobile Association's Members
2.5% discount for ARAI approved anti theft device in your vehicle.
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Avail add-on covers for electrical and non-electrical items.
Buy Online and pay in installments without any extra charges.
(i) HDFC COMMERCIAL VECHILE INSURANCE
Protecting and maintaining commercial vehicles is critical to ensure that daily operations within your business run smoothly. The insurance policy provides coverage for any accidental losses or legal liabilities involving your commercial vehicles. Here are some of the features of the policy:
Large network: Cashless Claim Service over 1600+ authorized network of garages across India.
Emergency assistance: This policy also provides services such as towing, ambulance, claims assistance should your commercial vehicle undergo any severe accident.
Types of vehicles covered: HDFC ERGO provides covers to various classes of commercial vehicles such as goods carrying vehicles - both private and public carriers, trailers, passenger carrying vehicles, miscellaneous & special types of vehicles.
Customer support: Avail of comprehensive customer support through the HDFC ERGO’s 24x7 toll free helpline number, along with a simple claims procedure.
(ii) PRIVATE CAR INSURANCE-
Secure your prized vehicles with the HDFC ERGO Private Car Insurance
Package Policy. You can avail a host of discounts and cashless claims. Here are some of the features of the policy:
Cashless Claim Service: Cashless Claim Service over 1600+ authorized network of garages across India.
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Discounts: Benefit from a range of discounts offered on the HDFC ERGO Private Cars Insurance policy, such as Automobile Association Discount and discounts based on age and profession.
Online convenience: Take maximum advantage of buying and renewing the policy online.
3.6 DEMAT ACCOUNT
ICICI -ICICI bank provides demat account for its customers those who are willing to take part in the Indian stock market by investing there. The bank features a wide range of demat facilities of which the ICICI demat account is the initial part.
Besides this ICICI demat account also facilitates some other features like:
• Transaction statement – Counter party, transaction type, specific date range.
• Bill details.
• ISIN look up – Information on the face value and the status value of the ISIN.
• Settlement calendar- Information regarding pay in and pay out date.
• Status on request.
• Customer ledger.
• E-instructions.
• Mobile alerts.
• TIFD and IDT booklets on request.
• Personal details – Clients name and address holders name, account type and details.
• No charges for opening DP required.
HDFC-
The HDFC bank has over eight lakh demat accounts across India. HDFC Demat offers you convenient and secure services to manage your investments and
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securities. The HDFC demat offers you paperless services as the physical documents may lose or damaged over time. The HDFC Demat account allows you to make hassle free transactions online. There are different types of HDFC demat accounts such as Individual demat account, joint demat account and corporate demat accounts.
Benefits
The HDFC Demat has the following benefits,
Transfer of securities does not have any stamp duty.
Market lots concept does not exist
The refunds from Public Issue are automatically credited to your account.
Your liquidity is enhanced by shorter settlements.
All the transaction details are communicated through email
All the holding details can be viewed online at any time
Change of signature or address can be made through online easily
Off market transactions and traded securities are settled
3.7 WEALTH MANAGEMENT
ICICIAn ICICI Bank Wealth Management service has helped a large number of customers to manage their funds more efficiently. If you need some wealth management help then the professionals of this reputed bank can work with you to develop the best available wealth management portfolio. The bank further offers a wide array of wealth management products and solutions that enables the customers to fulfill their financial requirements. These products and services are aimed to provide immediate results. Being a unique customer of ICICI Bank wealth management, one can enjoy a special banking experience and feel a
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sense of privilege.
ICICI Bank wealth management solutions include fast access to ATMs, Money Multiplier services, investment planning, portfolio construction and a range of other privileges. The investment process of the bank begins with understanding of the customers. The wealth management professionals of the bank make a thorough study of the financial background of the customers, risk tolerance, existing investment pattern and investment objectives to make the best
approach. Moreover, they make an extensive risk profiling exercise that helps them to evaluate the risk appetite and get a better understanding of their investment objectives.
HDFC
The wealth management programme will cater to individual needs taking into account various factors such as customer's age, financial goals and risk profile.
The investment options offered include equity, mutual funds and debt
instruments such as RBI Relief Bonds and government securities. Said Aditya Puri, managing director, HDFC Bank: "The extension of this programme to a wider base of customers fits in perfectly with our objective of providing value by making exclusive services more accessible."
The basic product under the new offering for customers includes a net-based product which will track a portfolio for any amount for an annual fee of Rs 10,000. The bank has also launched an SMS-based product, which would not track any portfolio, but offer customers daily market news related to both equity and debt.They were also entitled to preferential treatment, with regard to the bank's various products. This was in the form of better rates for products such as loan against shares or mutual funds. They were also entitled to better deals on products of HDFC group companies such as housing loans from HDFC or equity broking services from HDFC Securities.
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CHAPTER 4: COMPARASION
4.1 DIFFERENCE BETWEEN HDFC AND ICICI
a) HDFC designs its products for a niche market while ICICI markets to all customers.
b) HDFC has enjoyed the highest growth rate of banks in India at 30% pa whereas ICICI’s growth varies over the years.
c) The PE ratio for HDFC (19%) is higher than that of ICICI (11 %.).
d) ICICI more branches and ATM over the country than does HDFC making it more accessible to clients.
e) Both banks differ in their selected ways of raising equity.
f) ICICI has an internet banking platform that is by far superior to that of HDFC.
g) HDFC’s NPA is 0.2% while ICICI has NPA’s at 2.7% for advances.
4.2 HDFC Bank vs. ICICI Bank: Indian Banks Compared………
HDFC and ICICI are major financial and banking services organizations in India. HDFC stands for Housing Development Finance Corporation and ICICI is the Industrial Credit and Investment Corporation of India. It was in the 1990’s that the government of India decided upon a policy of liberalization under the leadership of Narsimha Rao. This policy allowed private banks to become established in India although small in number. The first among these banks was Global Trust Bank after which various others like Axis Bank, HDFC Bank and ICICI Bank emerged. This gave a boost to the banking sector in
India…………..
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ICICI Bank
ICICI is the largest private sector bank and 2nd largest bank overall in India. It was formerly known as Industrial Credit and Investment Corporation of India.
The bank has its presence all over India and even abroad (Present in 18
countries) with more than 2000 branches and over 5000 ATM’s. It provides a host of banking services to both corporate and retail customers apart from being fairly successful in life insurance (ICICI Prudential), venture capital (ICICI Direct) and asset management. It is the largest home loan provider in the
country. ICICI ranks number one in providing credit cards in India. ICICI has a strong presence overseas and has offices in 19 countries. ICICI has been
notorious in employing goons for recovering its loans from defaulters and has been pulled by different courts and consumer forums in this regard.
As far as differences between the two banks are concerned, both are equally popular employing cutting edge technologies though ICICI seems to be ahead in aggressive branding having Amitabh Bachchan as its brand ambassador.
HDFC Bank Ltd.
HDFC was among the first private sector banks set up in India after RBI
allowed their establishment in 1994. It was promoted by Housing Development Corporation of India, and is still known as HDFC Bank. It was founded by Bibu Verghese and its headquarters are in Mumbai. As of 2010, its operating incomes were $958 million and profit stood at $658 million. Times Bank Limited, and Centurion Bank of Punjab have merged with HDFC Bank since then, increasing the assets of the Bank. Today HDFC has a Pan Indian presence with over 1700 branches and over 5000 ATM’s.
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4.3 STRUCTURE OF ICICI AND HDFC BANK
Attributes ICICI Bank HDFC Bank
Business Loans
Business Loans,Loan Against Deposit,Professional Loan,Project Finance,Term Finance,Trade Finance
Business Loans,Loan Against
Deposit,Professional Loan,Project Finance,Term Finance,Trade Finance
Cards
Corporate Credit Card,Credit Card,Debit Card,E-Shop Card,Loyalty Cards,Remittance Card,Travel Currency
Card
Corporate Credit Card,Credit Card,Debit Card,E-Shop Card,Loyalty Cards,Meal
Card,Travel Currency Card
Account Types
Current Account,Demat Account,Fixed Deposit Account,Recurring Deposit Account,Saving Account
Current Account,Demat Account,Fixed Deposit Account,Recurring Deposit Account,Saving
Account
Bank Type Private Private
Personal Loans
Agricultural Loan Schemes,Commercial Vehicle Loan,Consumer Goods Loan,Educational Loan,Four
Wheeler Loan,Home Improvement Loan,Housing Loan,Loan Against Deposit,Loan Against Gold,Loan
Against Property,Loan Against Share,Loan Against Vehicle,Personal Loan,Two Wheeler Loan
Commercial Vehicle Loan,Consumer Goods Loan,Educational Loan,Four Wheeler Loan,Home Improvement Loan,Housing Loan,Loan Against Deposit,Loan Against Gold,Loan Against Property,Loan Against Share,Loan Against Vehicle,Personal Loan,Two
Wheeler Loan
Card To Card Money Transfer,Currency Exchange,Demat Services,Direct Tax Payment,Electronic Clearing Service,Mobile Phone
Banking,Multi City Cheque Facility,Net Banking,Pension Disbursement,Personal Tax Assistance
& Investment,Portfolio Management,Retail Sale Of Gold Coin,Wealth Management Service
Card To Card Money Transfer,Currency Exchange,Demat Services,Direct Tax Payment,Electronic Clearing Service,Locker
Facility,Mobile Phone Banking,Multi City Cheque Facility,Net Banking,Personal Tax
Assistance & Investment,Portfolio Management,Traveler's Cheque,Wealth
Management Service
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4.4 Similarities and Differences
ICICI Bank
1) ICICI is Industrial credit and Investment Corporation of India.
2) ICICI bank was setup with an objective of providing middle and long term financing to businesses in India.
3) ICICI bank is the third largest bank in India.
4) The bank has a network of 2,016 branches (31 March 2010) and more than five thousand ATM machines in India.
HDFC Bank
1) HDFC stands for Housing development finance Corporation.
2) HDFC Bank was established in 1994 by India’s largest housing finance company- HDFC Ltd.
3) In January 1995 it started operating as a scheduled commercial Bank.
4) Revenue of 20,266.99 crore and profit of 3032.92 crore (2010).
5) HDFC Bank has 1,725 branches and more than four thousand ATM machines installed, in over seven hundred cities in India.
4.5 ICICI BANK vs HDFC BANK (Bank results season) – India Earnings Season 2012
With HDFC Bank reporting renewed confidence in growth and a global mantra of 30% growth successfully met in a quarter of low expectations when ICICI Bank and SBI report tomorrow and the weekend respectively we would also have the acceleration from a lowered provision, ICICI Bank expected to continue reporting a credit growth of 18-20% and a 50% jump in Net profit to
$375 million for the quarter too.
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Indian Banks HDFC vs ICICI
HDFC and ICICI are two names that stand apart among others when we talk of private sector banks in India. Both are fairly successful banks giving stiff competition to government banks. The reason of their success lies in the fact that both have introduced a greater efficiency of services and also host of new services that were demanded by consumers.