Today retail banking has emerged as the dark horse in banking sector. Low interest rates and booming consumerism have unleashed credit off take in retail segment in a big way. The personal banking segment customers have become the center of attraction... Credit exposures through personal loans have grown at an explosive rate across the nation. But this growth has not come without the associated pains of growth. Across all markets competitive pressures are beginning to have a telling impact on all aspects of the income statement of a financial institution. For starters, fewer and fewer consumers are responding to the marketing efforts of banks. Response rates are at their lowest ever. Sure enough, low interest rate is a major concern one would like to think twice about before choosing a particular bank. But, is interest rate the only parameter that we take a look before we purchase (borrow) the loan? No, perhaps not. When our decisions are conIViously analyzed by the elements of hidden costs, we are also unconviously inspired to go for a lending institution by its service quality, financial branding and personal relations. Towards this end we were handed this project by ING Vysya Bank to identify the pockets of opportunities in the current product portfolio (PERSONAL LOANS) and optimize them to maximize profitability. The project demanded the identification of prospective customers of personal loans. This was achieved by a thorough understanding of customers, a better capability to predict customer behavior. Another aspect of this study was to find out the penetration of ING Vysya personal loans in the mind and heart of the consumer across different demographic classifications of the twin cities. The project required the study of the areas of growth as well as those of fall of the Personal Loans. For this, Market Research as well as Financial analysis was done to implement the study.
[...] However, with a plethora of IVhemes to choose from, the retail investor faces problems in selecting funds. Factors such as investment strategy and management style are qualitative, but the funds record is an important indicator too. Though past performance alone can not be indicative of future performance, it is the only quantitative way to judge how good a fund is at present. Therefore, there is a need to correctly assess the past performance of different mutual funds. Quite simply then a fund generating more returns than the other is considered better than the other. [...]
[...] Products Accounts & Deposits ING Vysya Bank has a portfolio of banking solutions and a range of offerings for people from all walks of life, with a view to making banking an effortless task. Whether you require a simple savings account or a sound banking partner, ING Vysya Bank has the perfect solutions and products to ensure a wealthy future. Savings Accounts Choose one of ING Vysya Bank's savings account that suit you the most and be at the receiving end of attractive returns and personalized banking services, while accumulating funds over a period of time. [...]
[...] ING Vysya should also keep up pace with the changing trends in the market which will auger well for its continuous growth in the personal loan market. Recommendations For the companies that provide services, first impression matters a lot as customers are very volatile in nature. It's tough to convince hem and very easy to break their faith. Therefore, private and foreign banks are walking on a live wire. ING Vysya Bank is no exception to this. The following recommendations are suggested which may provide fruitful results for the Bank, if implemented effectively. [...]
[...] ING Vysya Bank in India ING Vysya Bank is the largest international banking Group in India with 78 branches in 30 cities. The Bank is having a combined customer base of 2.5 million in retail banking and over 1200 corporate customers. The key businesses of ING Vysya Bank in India include consumer banking - primarily credit cards, mortgages, personal loans and wealth management - and - wholesale banking, where the Bank specializes in the provision of cash management, trade, finance, treasury and custody services. [...]
[...] Comfort factor: This refers to the peace of mind associated with an investment. Avoiding discomfort is probably a greater need than receiving comfort. Reputation plays an important part in delivering the comfort factor. Tax efficiency: Legitimate reduction in the amount of tax payable is an important part of the Indian psyche. Every rupee saved in taxes goes towards wealth accumulation. Life Cover: Many investors look for investments that offer good return with adequate life cover to manage the situations in case of any eventualities. [...]
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