“Standard Chartered Bank Saving Account Comparison”

THE GLOBAL PERSPECTIVE

History Of Standard Chartered Bank
The Standard Chartered Group was formed in 1969 through
a merger of two banks: The Standard Bank of British South
Africa founded in 1863, and the Chartered Bank of India,
Australia and China, founded in 1853.

The Standard Bank was founded in South Africa in 1862 by

John Paterson

The Chartered Bank was founded by James Wilson following

the grant of a Royal Charter by Queen Victoria in 1853.
Chartered opened its first branches in Mumbai (Bombay),
Calcutta and Shanghai in 1858, followed by Hong Kong and
Singapore in 1859.

This friendly merger allowed both banks to capitalize on the

expansion of trade caused by the increased movement of
goods from Europe to the East and Africa.
 Standard Chartered Bank In India

  Chartered Bank opened its first overseas branch in India, at Kolkata, on 12

April 1858. During that time Kolkata was the most important commercial city
and was the hub of jute and indigo trades.

•With the opening of the Suez Canal in 1869 and the growth of cotton trade,
Bombay replaced Kolkata as the main commercial center
 
• Today the Bank's branches and sub-branches in India are directed and
administered from Bombay with Kolkata remaining an important trading and
banking canter..

•To diverse financial needs, Standard Chartered offers a wide range of state-of-
the-art banking products and services through its network of 90 branches in 31
cities across the country.
 
 Some Fact About Standard Chartered Bank

• Over 50 nationalities are represented among our top 500 senior executives.

• SCB is the only international bank with over 90% profits from Asia, Africa, and the Middle-East.

• SCB is the only international bank with a long unbroken banking history in India and China.

• SCB is the largest international bank in India in terms of branch network and profits

• SCB is the only bank in the Falkland Islands.

• SCB is one of three note issuing banks in Hong Kong.

 Principle and Fact of Standard Chartered Bank

• At Standard Chartered our success is built on teamwork, partnership and the diversity of our

people

• Today we employ 75,000 people, representing 115 nationalities, and you'll find 61 nationalities

among our 500 most senior leaders.

• We believe this diversity helps to fuel creativity and innovation, supporting the development of

exciting new products and services for our customers worldwide.

 Standard Chartered Bank Stand for
• Strategic intent
• The world's best international bank
• Leading the way in Asia, Africa and the Middle East
• Brand promise
• Leading by Example to be The Right Partner
• Values
• Responsive
• Trustworthy
• International
• Creative
• Courageous
• Commitment to stakeholders
• Customers - Passionate about our customers' success, delighting them with the quality of
our service
• Our People - Helping our people to grow, enabling individuals to make a difference and
teams to win
• Investors - A distinctive investment delivering outstanding performance and superior
returns
Products and Services at Standard Chartered Bank
 Different Types of Saving Account in SCB
• Standard chartered Bank offers basically 6 different type of saving account. According to
consumer needs it functioned and very useful.

• aXcess plus account

• Super value account

• Parivaar account

• No frills account

• aaSaan account

• 2-in-1 account
 Recent strategic alliances and acquisitions
• Standard chartered Bank offers basically 6 different type of saving account. According to
consumer needs it functioned and very useful.
• SC First Bank in Korea, which to date is the biggest acquisition in our history.
• We formed strategic alliances with Fleming Family & Partners to expand private wealth
management in Asia and the Middle East.
• We acquired the business operations of American Express Bank in Bangladesh.
• We acquired a stake in Bohai Bank in Tianjin, China, making us the first foreign bank to be
allowed a stake in a local bank in China.
• 1957 – Eastern bank take over by Standard Chartered,
• 1965 – Bank of West Africa acquired
• 1973 – The Hodge Group was acquired in the Uk
• 1979 – Union Bank of California Acquired
• 1983 - Standard Chartered Merchant bank Acquired Midland & International Banks Limited
 Recent strategic alliances and acquisitions
• 1993 – SCB acquires the First interstate bank of California
• 1996 – SCB Cameroon becomes 100% subsidiary.
• 1999 – SCB agrees to Acquire 89% of share Capital of Metropolitan Bank of Lebanon
• 2000 – Grind lays bank acquired form ANZ bank
• 2000 – Chase Manhattan Card Acquired in Hong Kong
• 2004 – 63 % Stake Acquired in Pemata bank
• 2005 – Acquisition of Korea first bank in South Korea.
• 2006 – Hsinchu International Bank Acquired
• We acquired a 25% stake in First Africa Group Holdings in June 2006.
• 2007 – American Express Bank Acquired
• 2007 – Acquisition of 74.9% Strategic Stake in India’s UTI Securities.
• 2007 – Union Bank of Pakistan Acquired
• 2009 - SCB Kolkata’s heritage building on Indian 5 Rupees Postal Stamp and England Letter Envelop
 Standard Chartered – leading the way

• Standard Chartered is listed on London Stock Exchange and the Hong Kong Stock

Exchange and BSC and NSC in India and is consistently ranked in the top 25 among

FTSE-100 companies by market capitalization.

 Saving Account in Standard Chartered Bank
• aXcess plus account:-
The Standard Chartered aXcess Plus Account comes with a globally valid debit - cum - ATM
card which allows customers to aXcess all Standard Chartered Bank ATMs and provides
instant cash at all Visa Network ATMs in India and abroad. This account provides unparalleled
access to your money through a variety of channels.

•Highlights

Category Regular
Minimum AQB 25.000

Interest Rate 3.5%

Card offered ATM cum Debit Card
ATM Cards
Replacement of Pin Rs 50
Lost card re-issuance Rs 100
 Saving Account in Standard Chartered Bank
Some features:-
• FREE Unlimited Visa ATM transactions* (Cash withdrawal and balance enquiry)
• FREE Standard Chartered Bank branch access across the county
• FREE Doorstep Banking
• FREE Demand Drafts/Pay Orders (drawn at SCB locations)
• FREE Payable at Par Chequebook
• International Debit Card
• Extended Banking Hours
• Phone banking, Net banking, Multi-city banking, 365 days branches
• Unique free insurance benefits- lost card, purchase protection.
• * Available on maintenance of average quarterly balance of Rs 25,000/-
 Comparison of Standard Chartered Bank’s Saving Account
with Other Bank’s
Standard
Features Chartered Yes Bank Barclays HDFC

Avg.Quaterly Bal. 25,000 25,000 1,000 20,000

Rate of Interest  3.50% 3.50%  3.50% 3.50%

Internet Banking Free Free 25(Per month) Free

Doorstep Banking Free Free Free

Phone Banking Free Free 100 50

Quarterly
Statement Free Free Free Free

Monthly Statement Free Free Free Free

Pass Book Free Free Free
At Par Cheque Free 25 Txns PM Free 1 Lac PM 2 Lac PM
 Comparison of Standard Chartered Bank’s Saving Account
with Other Bank’s
Features Standard Chartered Yes Bank Barclays HDFC
International Platinum
Debit card Debit Car International Silver Debit Card Gold Debit Card
1 % Cash Back on all 1% Cash back on
Cash Back Txns --- --- Shopping Txns
2 Lacs ATM & 2 lakh 50,000 ATM &
Debit Card Txns Shopping 50,000 1 Lac ATM & ! Lac
Limit 25 Shopping Shopping
Account closure 500 50 500 100
5 DDs in Yes Bank
Location &

2 DDs in Free DD up to 1 Lac

Corresponding bank Rs Per day in Bank
DDs n payorders Free Location --- Location
 Conclusion
• Almost all the Banks offer similar features and facilities with their Savings
accounts, therefore for existing customers of Savings Account of any Bank
to shift to another Bank; this is very rarely the criteria or reason.
• The bank should increase the number of ATM’s in the country as people feel
that the bank has very few ATM’s in the country.
• The bank needs to make people aware about these products and the basic
benefits they can derive out of it.
• customers felt that the sales agents who approach them on behalf of the
bank our not qualified enough to perform the task for this esteemed bank
and thus we recommend that college students or fresh graduates from
reputed colleges can be hired on part time basis for this job.
• people more eager about banking service whatever bank charges for
services as people have not much time. Show they utilize latest service
which provided by the banks. people also go for the brand name because
thay want to show their standard.
THANK YOU