Professional Documents
Culture Documents
PART A
PREFATORY ITEMS
1.1Letter Of Transmittal 3
1.2Title Page
4
1.3Letter Of Authorization
1.4Executive Summary 5
2 PART B – INTRODUCTION 9
2.4 Hypothesis 13
LETTER OF TRANSMITTAL
Date:
From,
Group No:
Div: A
Submitted To
Dr.VijayWagh
Group No.
Div - A
Group Members:
Durvesh Galvankar -
120
Pinki Tiwani - 141
Sagar Gala - 151
Urvaksh Mohta - 168
Date:
Group No:
Div: A
Dr.Vijay Wagh
Executive Summary
Gone are the days when people would dip into their cash reserves
and savings to buy cars. Almost all – both individuals and companies –
prefer to buy vehicles on installments, because that allows them the
liberty of not having to invest a huge amount upfront. That’s the need gap
being filled by almost all banks and financial institutions, who now offer
auto loans on lucrative terms to consumers, egging them to fulfill their
dreams and aspirations, just by paying some extra interest. According to
industry estimates, in the last few years alone, 60% of cars were bought
through finance deals. Two-wheelers, being cheaper, had a smaller share
in the auto loans market. With more and more attractive car and two
wheeler brands and models jostling for the consumer’s attention, banks
and financial institutions, are also falling over each other to offer the most
customer-friendly loan schemes, which can suit even the most humble
earnings. That’s what creates an embarrassment of riches – a confusion
over which bank to choose and which loan to opt for.
A secured loan
Beginning with the basics, a car loan by nature is a secured loan. The
vehicle or car you are buying will be the collateral or security for your
This is the most common type of repayment structure where you pay
regular even amounts, subject to interest rate changes. Your early
repayments are mostly interest with a small amount of principal. As you
pay off your loan, this ratio gradually reverses.
PART B
PROBLEM STATEMENT:
To study the satisfaction level of existing ICICI Bank Auto loan customers.
2. Descriptive Research
Exploratory Research:-
Descriptive Research:-
Set 1- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
dependent on service.
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not
dependent on service.
Set 2- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not
Set 3- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
dependent on competitors.
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not dependent on competitors.
Gone are the days when people would dip into their cash reserves
and savings to buy cars. Almost all – both individuals and companies –
prefer to buy vehicles on installments, because that allows them the
liberty of not having to invest a huge amount upfront. That’s the need gap
being filled by almost all banks and financial institutions, who now offer
auto loans on lucrative terms to consumers, egging them to fulfill their
dreams and aspirations, just by paying some extra interest. According to
industry estimates, in the last few years alone, 60% of cars were bought
through finance deals. Two-wheelers, being cheaper, had a smaller share
in the auto loans market.
With more and more attractive car and two wheeler brands and
models jostling for the consumer’s attention, banks and financial
institutions, are also falling over each other to offer the most customer-
friendly loan schemes, which can suit even the most humble earnings.
That’s what creates an embarrassment of riches – a confusion over which
bank to choose and which loan to opt for.
India has several good government and private banks that offer
different car loan schemes with varying interest rates. It is natural for
Once you have decided your category, you will have to zero down
based on the amount you would like to borrow. For example, ICICI bank
offers attractive rates for smaller cars with value over one lakh. The limit
and auto loan interest rates would be different across banks for different
amounts.
Some car manufacturers have tie ups with banks to help customers
with easy finance options. For example, Citicorp India would be offering
attractive rates when financing selective cars including Maruti 800 (which
is a popular small low priced car).
Finally you would be left with two or three banks with two or three
loan schemes. Among these you will have to make a strict comparison of
the interest rates and repayment periods to arrive at your choice. These
data can be found from several leading websites and portals from India.
In any case note that, ICICI and HDFC are generally two good banks to
approach for car loan rates.
It’s always a delight to get the keys to a new car. For most, the only
challenge is paying for the car. Unless you have cash in hand, you’ll need
some type of auto loan. Follow these six keys to a great auto loan and you
can ride around knowing you got the best deal.
The first step that is essential is to choose a car of your choice and
find out its manufacturer, model. Also, don’t forget to find out the nearest
distributor for your convenience.
Key to a Great Auto Loan #2: Know How Much You Can
Spend
You may love the car your neighbor drives, but its price tag may just
be too hot for you. Settle for a bunch of options, whose price tag is within
your reach. Don’t forget, there are a whole set of paraphernalia expenses
involved in the purchase of a car, which can sometimes throw your budget
out of gear.
1 - http://auto.indiamart.com/auto-finance/#tab
As you are ready to Explore & you have made up your mind that
you will take your loved ones out for a spin within a week, check out who
offers what, and which one is best suited for you
• There is also a minimum amount of auto loan that you have to take
from finance money.
• The rate of interest for an auto loan differs from one bank to the
other, while the minimum is somewhere around 10-11 percent.
Loan Schemes
Also, the bank stands to gain on the amount of interest that it gets.
Firstly, it does not give the 100% loan it had promised. Secondly, the
interest that it charges on the amount that it has lent is in actuality
greater. This is because, it calculates the interest rate on what it has lent,
but forgets about the sum it has already taken in advance. Very simply
put, if the bank lent you Rs. 200 and collected Rs. 100 as advance EMI, it
will get its 16% on the Rs. 100 that it has actually lent, by telling you that
it is lending to you at 8% on the Rs. 200 that you (ostensibly) borrowed.
• Processing Fees
3 - http://auto.indiamart.com/auto-finance/advance-scheme-fees.html
Car Finance
• Citicorp Maruti
• The Financial Services Company of Fiat
• HDFC BANK Ltd.
• ICICI
• The Saraswat co-op BANK LTD.
• Standard Chartered Bank - India
• SBI
• Tata Finance Ltd.
• Citibank
4 - http://auto.indiamart.com/auto-finance/car-finance.html
• Eligibility
• Purpose
• Margin
• Tenure of Loan
Term loan
Repayable in 84 months for new vehicles
Repayable in 60 months for old vehicles up to 2 years
old
Repayable in 36 months for vehicles more than 2 years
and up to 4 years old
Short term loan is repayable in 36 monthly installments
(new and up to 2 year old vehicles only)
5 – www.rupeestimes.com
Hassle-free documentation.
Customer Privileges
# If you are an HDFC Bank account holder, we have special rates for you.
# If you are an existing HDFC Bank Car Loan customer with a clear
repayment of 12 months or more we can Top-Up your car loan at a
reduced interest rate.
Attractive car loan plans - To Fastrack your loan, just choose the
plan that is right for you.
Customer Privileges
○ Documents required:
Age Proof: Any one of Passport copy, PAN Card, Voters ID
card, Photo driving license with birth date ( laminated,
recent , legible), Photo ration card with DOB, Employer
certificate/ID, School/College Leaving certificate.
Proof of Identity: Any one of Passport copy, PAN Card,
Voters ID card, Photo driving license with birth date, Photo
ration card with DOB.
Income Proof: Latest salary slip with latest form 16/latest
ITR. HDFC bank corporate salary account statement for
salary credits of above Rs 8000 for three months.
Address Proof: Any one of Photo Ration card with DOB,
Photo Driving licence with DOB, Voters ID card, Passport
• Partnership Firms
○ Eligibility Criteria
Minimum Income : Rs. 60000 p.a
Minimum turnover : Turnover Rs 4.5 lacs
Telephone: Landline at office and at residence of the
loan executing partner. Post-paid mobile phone of three
month vintage acceptable in case of landline at only one
place.
○ Documents required:
Age Proof: Partnership deed.
Proof of Identity: Partnership deed.
Income Proof: Latest ITR and latest Balance Sheet along
with Profit and Loss Account. In case of Business
turnovers exceeding 40 lacs or Professional turnovers
exceeding 10 lacs, the Balance sheet needs to have
been audited and in which case the latest Income Tax
Return need not be taken.
Address Proof: Partnership deed or any of Telephone
bill, Electricity bill, PAN Card.
Sign Verification Proof: Any one of Passport copy, Photo
driving licence with birth date (laminated, recent ,
legible), Credit Card statement with credit card copy,
There are various schemes available in the market that you can choose
according to your need
In this scheme, we finance your car for upto 90% for certain models. You
will have to give us a down payment for the margin amount, ( invoice
value minus Finance amount). The financed amount can be repaid as per
your convenience in tenures of 12 months to 60 months at your
convenience either through Equated monthly Installments or a differential
plan that we can tailor for you to minimize your outflow.
BANK KMPL
TENURE DEPOSIT Additional Earning
[8%] [11%]
From time to time we bring in special schemes under tie up with various
manufacturers.
Kotak Mahindra Prime not only offers you attractive finance schemes but
also helps you with, Sale of existing car, Credit life and your Car
Insurance.
2) Loan: In this offer, you can buy from the dealer with the loan amount
sanctioned by KMPL. The car will feature as an asset in your books of
account which will help you claim depreciation for taxation purposes. You
can also treat the interest component of the rentals as an expense.
3) Lease: If you opt for this product, the car will be owned by KMPL and
will be leased to you on rent. You can avail of tax benefits as the entire
rental will be accounted in your books as expense. The lease product is
beneficial for profit making corporate's.
BANK KMPL
TENURE DEPOSIT Additional Earning
[8%] [11%]
If you want you can pay a few monthly installments up front. The balance
is payable through Equal Monthly Installments. With the advance
installments you can repay your loan offers 100% finance at 0% interest
also on certain car models. These schemes are based on certain terms
and conditions and normally facilitated by our tie-ups with manufacturers.
• Documentation
Once the vehicle, product and scheme are finalized, it will be time for us
to initiate the process of making finance available to you as soon as
possible, In order to know a little about our customer we require the
following documents to process the loan application.
The table below represents the documents required from your. Please
identify yourself in the appropriate category and arrange for these
documents. We assure you that once these are in place us will be able to
process the finance in the shortest of time.
Proof of Residence
(copy of electricity/ YES YES YES YES YES
telephone bill)
Signature
Verification from
your Banker /
Voters ID / IT PAN YES YES YES YES YES
card / IT Return /
Driving License/
Passport
Computation of
Income for the last
YES YES YES YES YES
2 years certified by
CA
Copies of Income
Tax Returns for the YES YES YES YES YES
last two years
Photograph (one
signed by the YES YES YES - -
customer)
Credit Evaluation
A KMPL credit officer will evaluate your credit worthiness based on the
documents submitted by you along with the FI report. A field investigation
office will visit you for additional information that will help us process your
loan. The additional information will be part of the FI report.
• Processing of Finance
After Credit approval, we will enter into an agreement with you and collect
post dated cheques (PDCs). PDCS will save you from the hassle of
arranging for cheques every month.
You also need to give us a pay order or cheque for the initial payment (IP)
(upfront money as applicable) and the insurance cover note. Within 48
hours of our receipt of complete documentation, signed agreement, IP and
PDCs, we will make the payment to the dealer for your car.
1. Pay order
2. Cheque
The time has finally arrived for you to take delivery of your car. For the
delivery, you will receive a call from our Customer Service Cell intimating
you about allotment and tentative date of delivery (if the car is not
available off-the-shelf).
• Pricing Disclaimer
The prices quoted here are only indicative and are near to
accurate and prices prevailing at the time of the actual
sales/invoicing/delivery will be applicable.
The prices quoted are for current specifications as available in
the buy new section and with the dealers location-wise.
The prices quoted may vary from one dealer to the
other,location-wise.
Generally, prices prevailing at the time of sales/invoicing is
applicable.
The prices quoted for Delhi location applies only to EURO II
vehicles.
At the time of delivery, please collect the invoice from the dealer. Also,
ask the dealer when you can collect the RC book as registration can take
a long time. Send us a photocopy of the invoice. Also please send us a
photocopy of the RC book as soon as you receive it. Subsequent to
receiving the above document, we will send the Agreement copy and
Repayment Schedule to you by courier.
These are the seven simple steps to acquiring you car. And we hope this
give you a feel of what KMPL car finance is all about.
Introduction
The bank provides loans for purchase of both new as well as second
hand vehicles.[6]
Highlights
Introduction
Give wheels to your dream with Citibank car loan. Bank offers auto
loan at competitive interest rates with easy repayment options. The
existing Citibank customers gets loan sanctioned in just 30 minutes.
Eligibility Criteria
Salaried:
Income Rs 8000
Documents Required:
ID Proof Yes
Telephone No
Photograph Yes
Bank Statement No
Income Rs 60000
Documents Required:
ID Proof Yes
Telephone No
Photograph Yes
Bank Statement No
7 - http://en.mimi.hu/marketingweb/customer_satisfaction.html
• Product Quality
• Product Packaging
• Keeping delivery commitments
• Price
• Responsiveness and ability to resolve complaints and reject reports
• Overall communication, accessibility and attitude
Customer Satisfaction
Reviving the rather worn out debate on consumers and their
relationships with companies/the companies brands/the companies
marketers/the companies salesmen entirely for my amusement, lets hook
on to the latest statement that's making the rounds.. One of those that
sound really heavy but are a wee bit on the flaky side when it comes to
believability-100% customer satisfaction.
Customer satisfaction, like all good but gassy things in the world,
has managers and CEOs tripping over one another to tell customers that
they are on top of the pile. We all know the Kotler ratios- the magic
numbers with regard to customer satisfaction:
Five: cost of getting a new customer/ cost of keeping an old one
Ten: The number of people a disgruntled customer will
complain/whine/crib to.
If you aren't the best at pleasing your customers, the numbers definitely
tend to work against you. So right now, the companies have decided that
the customer is at the "core" of a company's processes and practices.
8 - http://www.crm2day.com/content/t6_librarynews_1.php?
news_id=112793
Overall the industry score has largely remained the same (90), indicating
highly stable user relationships. However, some traditionally strong
models have seen a dip in scores this year. Interestingly, this year, two of
the first time evaluated models (as they have gained critical mass in the
market in their respective segments), emerged as the top ones
(Volkswagen Polo in Upper Premium Compact jointly with Maruti Swift and
Volkswagen Passat in Entry Luxury).
Rankings for the TCS study are done at the vehicle segment-level to
provide comparisons among similar groups of vehicles. Thus Volkswagen
has done well in the small car segment otherwise ruled by Maruti. They
are also beginning to compete with Honda in the bigger car segment. The
competition is getting intense is evident from the fact that in many of the
segments the scores are very close and there are joint toppers in a
number of segments.
Upper
Volkswagen Polo and
Premium
Maruti Swift (Jointly)
Compact
Premium
Toyota Corolla Altis
Midsize
Overall the Indian car industry has seen a great performance in terms of
car sales. Simultaneously it has been able to maintain a high level of
satisfaction as well.
ICICI Bank
ICICI Bank offers a wide range of banking products and financial services
to corporate and retail customers through a variety of delivery channels
and through its specialized subsidiaries in the areas of investment
banking, life and non-life insurance, venture capital and asset
management.
The Bank currently has subsidiaries in the United Kingdom, Russia and
Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri
Lanka, Qatar and Dubai International Finance Centre and representative
offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand,
Malaysia and Indonesia. Our UK subsidiary has established branches in
Belgium and Germany.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange
and the National Stock Exchange of India Limited and its American
Depositary Receipts (ADRs) are listed on the New York Stock Exchange
(NYSE).
• BANKING ACCOUNTS:
ICICI Bank offers a wide range of banking accounts such as
Current, Saving, Life Plus Senior, Recurring Deposit, Young Stars,
Salary Account etc. tailor- made for every customer segments, from
children to senior citizens. Convenience and ease to access are the
benefits of ICICI Bank accounts. [12]
○ BANK@CAMPUS:
This student banking services gives students access to
their account details at the click of a mouse. Plus, the student
gets a cheque book, debit card and annual statements.
○ SAVINGS ACCOUNTS:
Convenience is the name of the game with ICICI bank’s
savings account. Whether it is an ATM/debit card, easy
○ FIXED DEPOSITS:
ICICI Bank offers a range of deposit solutions to meet
varying needs at every stage of life. It offers a range of
tenures and other features to suit all requirements.
• INSURANCE
○ LIFE INSURANCE:
The ICICI group provides the many life insurance
products through ICICI Prudential Life Insurance Company.
○ GENERAL INSURANCE:
• LOANS
The No. 1 Home Loans Provider in the country, ICICI Bank Home
Loans offers some unbeatable benefits to its customers - Doorstep
Service, Simplified Documentation and Guidance throughout the Process.
It's really easy!
Since making its maiden venture in the home loan segment in 1999,
ICICI Bank has been breathing down the neck of market leader HDFC, with
its aggressive marketing strategy. Quality and value-added service -
rather than interest rate - have been the hallmark of ICICI, with the
company capitalizing on the absence of `door delivery' for housing loans.
In a marked shift from the existing industry norms, ICICI carved a niche
for itself by going to the potential borrower rather than waiting for him to
come to them. Check out more information on the housing loans provided
by ICICI bank.
Features
➢ ICICI bank offers home loans for the first purchase in ready
construction, under construction property, purchase in re-sale, self
construction and extension of existing living space.
➢ The loan amount can be up to 80% of the Cost of Property.
➢ The applicant can conveniently repay the loan over a period up to
25 years.
13 - http://www.iloveindia.com/real-estate/housing-finance-
companies/icici.html
Benefits
➢ ICICI home loans come with benefits like easy interest rates,
simplified documentation, doorstep service and free personal
accident insurance.
ICICI Home Finance ensures that you get the best Home Loans in terms of
interest rates and other facilities. You can choose from Adjustable, Fixed
or Floating Rate Home Loan.
Loan Processing 0.5% of the loan amount or Rs. 1500/- (Rs. 2000/-
Charges / Renewal for Mumbai, Delhi & Bangalore), whichever is higher
Charges + applicable Service Tax & Surcharge
Interest Certificate NA
No Objection Nil
Certificate / No Due
Certificate
14 - http://www.icicibank.com/Personal-Banking/loans/home-loan/service-
charges.html
Highlights
14 - http://www.rupeetimes.com/compare/personal_loan/icici_bank.html
Duplicate
Rs. 200/- per schedule (inclusive of
Repayment/Foreclosure
service tax)
statement
• Benefits:
Demat Shares
Insurance Policies
Savings Bonds
Service Charges
Interest is charged only on the amount drawn and for the period for which
it is utilized. Interest is calculated on a daily basis and debited to your
current account on the last day of every month. The amount debited has
to be paid back by you into the current account to regularize it. Stamp
duty varies from state to state.
Eligibility [16]
• Demat Shares
• NSC/KVP
○ Individuals, Hindu Undivided Families (HUFs), Companies
and Partnerships can apply.
• GOI Bonds
16-http://loansmumbai.in/eligibility-for-icici-bank%E2%80%99s-loan-against-
securities.html
Loans Against
Description of Charges
Shares
Minimum Rs.
2000/- upto 1%
of the loan
amount on
account
Loan Processing charge / Renewal charge
opening, and Rs.
1500/- p.a. on
renewal at the
end of each
year.
ICICI Bank offers loan against gold ornaments for all their customers
in India to provide liquidity against gold ornaments without having to sell
them. This loan is ideal to meet agriculture and allied agriculture
requirements like cultivation, dairy, poultry, fishery, etc.
• Eligibility criteria:
○ The applicant should be between 18 and 70 years.
○ Gold ornaments should be of 18 carat purity and above.
○ Proceeds of loan should be used for agriculture and allied
agriculture purposes.
17 - http://loansbuzz.com/icici-bank-loan-against-gold-ornaments/
○ FLEXICASH
http://www.icicibank.com/Personal-Banking/loans/loan-against-
securities/index.html
Hiring Segment – We finance Plant Hirers who buy and lend equipments to
contractors for projects.
Benefits:
○ Reaches you through more than 120 locations across the country
○ Range of products under one umbrella.
○ Funding for excavators, backhoe loaders, cranes, higher end
construction equipments etc.
○ Products include funding for new and used equipments. Top up
on existing loans also available.
○ Catering to wide variety of equipments required by mine owners,
road contractors and builders.
○ Simple documentation processes.
○ Quick turnaround time.
○ Flexible financing solutions to meet individual requirements
18- http://www.icicibank.com/pfsuser/loans/constructionequip/cefinancing.htm
○ LOAN AGAINST PROPERTY [19]
ICICI Bank Loans Against Property provide not just the most
competitive interest rates & best level of service, but also products
designed to cater to the specific needs of consumer. New products / new
features in existing products are introduced based on customer feedback.
Choose the ICICI Bank Loan against Property that suits your needs.
➢ Marriage.
➢ Child Education.
➢ Business.
➢ Purchase of Property (Where mortgage is not
possible).
➢ Improvement of Property.
➢ Medical Treatment.
19 - http://www.icicibank.com/Personal-Banking/loans/home-loan/loan-against
property/product.html
• Jet Overdraft.
Features:
Features:
Faster and quicker overdraft facility for business needs based on income,
secured with property.
Features:
○ FCNR deposit
○ Loans are available upto 90% of the principal amount of the deposits
(maximum Rs. 100 lac)
○ Rupee loans are available at the branch where you maintain your account
○ For demand loan, the entire loan amount is disbursed at one go by either
credit to NRO savings account or issue of a pay order / demand draft
○ The loan can also be repaid out of the funds in the NRO account of the
borrower
○ In case of loans to third parties, the same can be repaid out of the local
rupee account of the borrower.
○ CREDIT CARD:
ICICI Bank Credit Cards give you the facility of cash,
convenience and a range of benefits, anywhere in the world.
These benefits range from life time free cards, Insurance
benefits, global emergency assistance service, discounts, utility
payments, travel discounts and much more.
○ DEBIT CARD:
The ICICI Bank Debit Card is a revolutionary form of cash that
allows customers to access their bank account around the clock,
around the world. The ICICI Bank Debit Card can be used for
shopping at more than 3.5 Lakh merchants in India and 24
million merchants worldwide.
○ TRAVEL CARD:
ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss
Francs; Looking for security and convenience; take ICICI Bank
Travel Card. Issued in duplicate. Offers the Pin based security.
Has the convenience of usage of Credit or Debit card.
Bank on the move with ICICI Bank Mobile Banking. With ICICI
Bank, Banking is no longer what it used to be. ICICI Bank offers
Mobile Banking facility to all its Bank, Credit Card, Demat and Loan
customers.
ICICI Bank Mobile Banking can be divided into two broad categories
of facilities:
○ Alert facility:
ICICI Bank Mobile Banking Alerts facility keeps you informed
about the significant transactions in its Accounts. It keeps you
updated wherever you go.
○ Request facility:
ICICI Bank Mobile Banking Requests facility enables you to
query for its account balance.
• INVESTMENT PRODUCTS:
Along with Deposit products and Loan offerings, ICICI Bank
assists you to manage its finances by providing various investment
options ranging from ICICI Bank Tax Saving Bonds to Equity
Investments through Initial Public Offers and Investment in Pure
Gold. ICICI Bank facilitates following investment products:
• ICICI Bank Tax Saving Bonds
• Government of India Bonds
• Investment in Mutual Funds
• Initial Public Offers by Corporate
• Investment in "Pure Gold"
• TRADE-SERVICES:
ICICI Bank offers online remittances as well as online
processing of letters of credit and bank guarantees.
• ASSET-MANAGEMENT:
Prudential ICICI Asset Management Company offers a wide
range of retail mutual fund products tailored to suit varied risk and
maturity profiles.
• CASH MANAGEMENT:
ICICI Bank offers a complete range of highly customized
solutions for managing both the collections and payments
requirements of clients by leveraging technology. Daily customized
transactions reports and real time web-enabled downloads, provide
on-tap information facilitating effective working capital
management.
• CORPORATE BANKING:
ICICI Bank offers comprehensive and customized financial
solutions for its corporate clients, including rupee and foreign
currency debts, working capital credit, structured financing
syndication and transaction banking products and services.
• INTERNET BANKING:
• ATMs:
With more than 6000 ATMs across the country, ICICI Bank has
one of the largest ATM networks in India
• PHONE BANKING:
Phone banking offers 24*7 service across liability, asset and
investment products to both retail and corporate customers.
• NRI-BANKING:
A gamut of services to take care of all NRI banking needs
including deposits, money transfers and private banking.
• MONEY2INDIA:
A complete range of online and offline money transfer
solutions to send money to India.
• PROPERTY:
For millions of home buyers across the country, ICICI Bank
offers not just great deals on home loans but also a wealth of expert
• DEMAT ACCOUNTS:
ICICI Bank’s Demat services after unique features like e-
constructions, consolidation, digitally signed statements, mobile
requests and corporate benefit tracking.
• RURAL-BANKING:
Bank offers technology-based solutions, financial innovations
and multiple delivery channels to meet the financial needs of rural
areas.
ICICI Bank
ICICI Bank offers car loans up to 90% of the ex-showroom price of the car.
Loan tenure can be extended up to 6 years which makes it easier to
repay. ICICI Bank is the top financier for car loans in India. The bank has a
network of more than 1800 channel partners in more than 1000 locations.
[20]
• Loan Amount
The loan amount depends on the car model. Minimum loan amount for a
new car loan is Rs.1 lakh. For a used car the bank arranges finance for a
maximum of 85% of the valuation of the car. Minimum loan amount
Car Loans are available with Fixed and Floating Interest Rates. The
amount of loan sanctioned depends on the strength of income related
documents. On absence of income proof, loan could be sanctioned on
producing the bank statement, loan repayment track record, etc. Income
Proof has to be submitted for last two years. Prepayment of loan is
allowed. However, one is not permitted to prepay in parts. ITR, Form 16,
and Salary Slip can be submitted as the proof of income. One also has to
submit proof of bank account continuity. Apart from these, address proof
and identity proof are also admitted.
20 - http://www.icicibank.com/Personal-Banking/loans/car-loan/
[21]
• Possession of Documents
Customers can retain the original Registration Certificate, Invoice and the
Insurance Policy. The bank just requires a photocopy of these documents
within 30 days of getting the loan disbursement.
21 - http://www.carwale.com/finance/banks/ICICI.aspx
• Loan Enhancement
To enhance your loan amount, the certified income of the
co-applicant can be considered, if requested by the
applicant.
The co-applicant can be the spouse or son/daughter living
in the same city.
Similarly, in case of a partnership firm or a limited
company one of the partners or a director can be taken a
co-applicant / guarantor for increasing the loan amount.
However, in both cases, the asset has to be registered in
the name of a single owner, not joint ownership.
• Rates & Fees
○ Car Loans:
We offer most competitive interest rates in the industry.
Interest rates depend on Car model, Loan Tenure,
Customer & Location.
Interest is calculated on a monthly reducing balance.
○ Processing Fee:
[22]
• Documentation Required
Proof of bank account One proof of Last two years' Last two
continuity income (ITR for the income proof years audited
last two years) (audited financials
account or
ITRs + CA
certified
financials)
22- http://www.carwale.com/finance/banks/ICICI.aspx
CAR LOANS
Features [23]
The applicant
Any Proprietor,
should be atleast Limited
partner,
25 years old at companies
professional or
time of should have
Age director above
application, and - been in
Criteria 28 years of age
below 58 years existence for
but below 65 at
of age at time of at least 2
the time of the
maturity of the years
loan's maturity
loan.
23 - http://www.carwale.com/finance/banks/ICICI.aspx
• Application Process[24]
You may contact the nearest ICICI Bank branch for the best
deal available on the car of your choice.
➢ Email us at customer.care@icicibank.com
If the vehicle is readily available with the dealer, you can get your car
as soon as the disbursal is made to the dealer. However ICICI Bank is
in no way responsible for car deliveries as they are regulated by the
car manufacturer's delivery schedules.
You can retain the original Registration Certificate, Invoice and the
Insurance Policy. We simply require a photocopy of these documents.
If you wish to cancel your loan application any time before the loan is
disbursed, you may do so by informing the representative who has
collected your documents or send us a written request.
24 - http://www.carwale.com/finance/banks/ICICI.aspx
• How to Repay
Repayment tenure ranges from 1 year to 7 years for New Car Loans.
Six Year and Seven year loans are available for specific models.
Maximum loan tenure for used car would depend on the age of the
car. The car should not be more than 8 years old at the time of
maturity of the loan.
You may change the tenure of the loan before the loan is disbursed.
The interest rate & EMI would change accordingly.
The repayment due dates are 1st and 7th of every month and would
depend on the date of disbursement. Payment due dates cannot be
changed.
You may change the PDC's in case your Bank Account is changed.
However, we would require verification of signatures by new banker. A
nominal fee of Rs.750/- (Swap Charges) would be charged for
exchange of cheques.
CAR OVERDRAFT
• The CAR OVERDRAFT product converts your Car into CASH by
following things:
25 - http://www.carwale.com/finance/banks/ICICI.aspx
Interest is charged only on the amount drawn and for the period
that it is utilized. The rate of interest would depend on the
scheme selected by the customer.
• Car Overdraft
You may contact our Toll Free number 1600-22-9191 for all
sales / product related queries.
Application Application
Application form Application form
form form
Guarantor's
photograph
Photograph of (for private
Photograph Photograph
signing partner limited
company
only)
One proof of
residence (driving
license / voters'
One income proof for Certified true
identity card / Partnership
the last two years (ITR, copy of the
ration card / deed
Form 16, salary slip) MOA & AOA
passport / utility
bills for the last 3
months)
• Details:
Cash Advance:
Multicity Banking:
Repayment:
Interest:
Loan to Value ratio against the cars for setting up the limit-
The customer can get a limit of upto 60 to 80% of valuation of car
depending on the car model and his income.
Tenure - The Car OD facility is given for a period of one year and can
be renewed for one more year. The renewal is at the sole discretion of
the Bank.
➢ Flexibility / Convenience
➢ Withdrawals permitted through Multicity cheque book /
HPCL DEBIT card as and when the customer wishes
➢ Customer can plan his finances and choose to repay,
provided the minimum dues are paid each month
➢ No customer financial contribution (i.e. down payment)
required for account set up
➢ HPCL debit card issuance is a value add for the
customer
➢ Limit set up against a movable asset - "unlock the cash
potential of a used car" (in case of car cash in).
➢ Interest charged only for the period the funds are
utilized.
Can the accountholder exhaust his / her entire credit limit in one
shot?
Yes, the accountholder can utilize the entire credit limit. However
he / she will not have any available credit limit to withdraw in
emergency situations, until outstanding are repaid.
On approval -
A sanction letter indicating the limit assigned, account number,
brief details etc will be sent by the Bank to the accountholder at
the mailing address. Simultaneously, the following will also be
dispatched separately
CAR FINANCE
ICICI offers car finance for new as well as old cars.
○ One can avail upto 90% of value of the car one wants to
purchase through the loan
• Tenor
○ Options are available where you can pay back the loan by way of
monthly installments spread over a period ranging from 1 year to
5 years.
○ The repayment due dates for every monthly installment are the
1st or the 7th of every month and payment would be collected
through post dated cheques.
• Eligibility
○ Salaried Individual :
Gross Annual Income should be above Rs. 1,00,000
○ Self-employed :
Individual If you are a proprietor, a partner, a professional, or a
director, with a Gross Annual Income o f above Rs.60,000, you
are eligible to apply for an ICICI Car Loan.
○ Partnership Firm
The firm should have a minimum PAT (Profit After Tax) of Rs.
60,000 for a standard car or minimum PAT of Rs 1, 00,000 for a
premium car.
• Documentation
○ Application Form
○ Photograph
➢ Form 16
➢ Salary Slip
➢ Passport
➢ PAN Card
26 - http://www.carwale.com/finance/banks/ICICI.aspx
[27]
RATES
Highlights
Interest Rate 13 %
27 - http://www.rupeetimes.com/compare/car_loans/icici_bank.html
Processing Fees
Pre-Payment Charges 5%
Eligibility Criteria
Salaried:
Income Rs 8000
Current 1 Yrs.
Employment
Years
Total 2 Yrs.
Employment
Years
Documents Required:
ID Proof Yes
Photograph Yes
Post Sanction Loan Agreement duly signed along with RTO set
Post Dated Cheques (PDCs) / ECS form / Standing
Instruction (SI) request Margin money receipt.
Self Employed:
Income Rs 15555
Documents Required:
Telephone No
Photograph Yes
Signature Proof No
ICICI Bank Commercial Vehicle Loan, strive to assist in every possible way
at every step. They have provided a useful tool below that will help us in
deciding our Commercial Vehicle Loan. [28]
Under the Fixed Interest Rate option for Commercial Vehicle Loan, the
interest rate for your loan will remain constant throughout the tenure of
the loan. The contracted installment amount and interest rate will be
applicable for the full tenure of the loan.
EMI Calculator
Note: Please calculate EMI by entering Loan amount, Tenor and Interest
rate.
Loan Amount
Rs.
Tenor
Months
Interest Rate
%
EMI
Rs.
Note:
• ICICI Bank, India’s largest private lender, has raised their deposit
rates by 50 basis points or 0.5% to 8.25% across different maturities.
The peak term deposit rate will be 9.25% for 590, 770 & 990 day
tenures. For present clients, it has increased the benchmark prime
lending rate by a similar percentage.
The high deposit rates would give better returns to savers. This
raise would increase the EMIs for home & auto loan. Apart from
personal loans, corporate loans will also become costly. The official
of ICICI Bank said that this increase in lending rates will not affect
the current fixed rate clients and their rates will remain same.
ICICI Bank said that these were loans originated four years ago and the
sum involved in it tiny to its size.
The rating was for a Rs 300 crore transaction then which has now fallen,
Crisis said.
ICICI Two Wheeler Loan is easy to avail and it is one of the best
available ways to finance a two wheeler vehicle. ICICI is one of the leading
providers of vehicle loans in India. The bank has helped a large number of
low and moderate income customers in getting their dream vehicle. If you
are thinking to buy a motorcycle or a scooter but don't have the instant
cash then a two wheeler loan with attractive interest rate from ICICI Bank
can surely help you. At ICICI Bank Loan@click, you can make the fastest
loan application through its online banking services. [30]
ICICI Bank offers flexible payback tenures for its two wheeler loans
ranging from 6 to 36 months. You can easily find the loan application form
from any of the bank branches located nearest to you. However, ICICI two
The following is a description of charges and fees associated with the two
wheeler loan of ICICI Bank;
Amortisation Schedule
Rs. 200/- per Schedule
Charges
Prepayment Statement
Rs. 100/- per Statement
Charges
Revalidation of NOC
Rs. 200/- per NOC
charges
Statement of Account
Rs. 200/- per Statement
Charges
Note :
2) The charges or fees given in above table are subject to change and the
one recorded in agreement will be binding over the site.
30- http://www.onlinebanksguide.com/icici-bank/two-wheeler-loan.html
PART C
METHODOLOGY
1. Target Population
The Population consists of all customers desirous of financing their car
purchase through loans provided by ICICI bank.
2. Sample frame
The Sample frame consists of all customers visiting ICICI bank.
4. Sampling Procedure
Simple random sampling
The population has different categories like people belonging to different
age groups, different income levels each have different perceptions of a
loan product depending upon their need. So we are using simple random
sampling.
n = (Z2*p*q)
E2
Data Analysis
10-15 5-10
Price Range 1-5 lakhs lakhs lakhs
Survey Size 72 18 40
Source: Questionnaire
Interpretation
The Mid Car Segment (14%) was preferred by customers at a price range
of Rs. 5-10 lakhs.
A small percentage of the sample size (31%) preferred the luxury car
segment for cars price above Rs. 10 lakhs.
The Small Car segment consists of cars within the price range of Rs. 1-5
lakhs. The total number of respondents in this segment was 72.
Q 3a.What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?
Fixed 25 16 10 4
Source: Questionnaire
Interpretation:
The data clearly shows a preference for fixed rate of interest across all
age group categories (76%). The preference for a floating rate of interest
forms a small but substantial proportion (26%) among the age group of
18-30 years only. Among the older category of customers, this preference
is negligible.
This data indicates that the risk appetite of customers in the current
economic situation is low across all age group categories.
Q 4a.What is the % of Loan to value (LTV) deal you expect for your auto
loan?
No. of 2 10 25 30 5
Respondents
Source: Questionnaire
No. of 2 2 18 10 40
Respondents
Source: Questionnaire
The data indicates that customers do not wish to prolong their loan tenor
beyond a reasonable period of time and generally prefer 5 years as a safe
and affordable period for a loan tenor.
Q 6a. Are you willing to utilize flexible EMI repayment facilities if offered?
Flexible Yes No
EMI
Repaym
ent
18 - 30 24 15
31 - 40 13 6
41 - 50 7 3
51 & 2 2
above
Source: Questionnaire
Interpretation:
Q7a. Please select your preference among the following flexible EMI
repayment services offered.
Bullet 7 1 1 1
Payment
Step Down 15 9 7
Step Up 3 1
Source: Questionnaire
Interpretation:
Age Group
51 &
Age 18-30 31-40 41-50 above
Quarterly
Reducing 15 22 7 3
Monthly
Reducing 6 14 2 3
Weekly
Reducing 0 0 0 0
Daily
Reducing 0 0 0 0
Source: Questionnaire
Interpretation:
Flexible EMI
Repayment 9 12 19 32 72
Loan Tenor
(Years) 5 12 33 22 72
Down Payment
(%) 12 35 15 10 72
Rate of Interest
(%) 46 13 5 8 72
72 72 72 72 288
Source: Questionnaire
Interpretation:
Mid-Car Segment
The Mid-Car Segment consists of vehicles in the price range of Rs. 5-10
lakhs were 40.
Q3b. What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?
51 &
Age 18-30 31-40 41-50 above
Floating 4 3 1
Fixed 14 11 5 2
Source: Questionnaire
Interpretation:
Age Group
Q4b. What is the % of Loan to value (LTV) deal you expect for your auto
loan?
No. of
Respondents 4 12 20 4
Source: Questionnaire
No. of 2 2 8 26 2
Respondents
Source: Questionnaire
As seen in the small car segment, it is seen here as well that customers
prefer a 4 year loan period.
Flexible
EMI
Repaym
ent Yes No
18 – 30 12 7
31 – 40 6 3
41 – 50 4 3
51 &
above 3 2
Bullet Payment 4 5 1 1
Rear End 1
Balloon
Step Down 4 3 2
Step Up 2 1 1
Source: Questionnaire
Interpretation:
Age Group:
• 18-30 years: 36% of respondents preferred the Step Down and Bullet
mode of payment each.
• 31-40 years: 56% of respondents preferred the Bullet mode of payment
while 33% preferred the Step Down mode of payment
• 41-50 years: 50% preferred Step Down while 33% preferred Bullet and
Step Up mode of payment each
• 51 years and above: The lone respondent preferred the Bullet mode of
payment.
Quarterly
Reducing 13 7 3 2
Monthly Reducing 6 4 3 2
Weekly Reducing 0 0 0 0
Daily Reducing 0 0 0 0
Source: Questionnaire
Interpretation:
Flexible EMI
Repayment 4 6 12 18
Down Payment
(%) 7 20 6 7
Rate of Interest
(%) 26 7 3 4
Source: Questionnaire
Interpretation:
Luxury Segment
The Luxury segment consists of cars priced above Rs. 10 lakhs. The total
number of respondents was only 18.
Q3c .What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?
51 &
Age 18-30 31-40 41-50 above
Floati
ng 2 1 1 0
Source: Questionnaire
Q4c. What is the % of Loan to value (LTV) deal you expect for your auto
loan?
No. of
Respondents 7 11
Source: Questionnaire
5 or
Loan Tenor more
(No. of Years) 1 yr 2 yrs 3 yrs 4 yrs yrs
No. of
Respondents 1 3 14
Source: Questionnaire
18 – 30 10 0
31 – 40 2 2
41 – 50 0 4
51 &
above 0 0
Source: Questionnaire
Q7c. If yes, please select your preference among the following flexible EMI
repayment services offered.
Bullet Payment – 100% (12 out of 12 customers preferred the bullet mode
of payment)
51 &
Age 18-30 31-40 41-50 above
Quarterly
Reducing 0 0 8 3
Monthly
Reducing 0 0 5 2
Weekly
Reducing 0 0 0 0
Daily
Reducing 0 0 0 0
Source: Questionnaire
Q9c. Rank the 4 most Important Auto Loan Terms of Services offered.
(Rank 1 – Highest importance to Rank 4 – Lowest importance)
Flexible EMI
Repayment 1 4 6 7
Loan Tenor
(Years) 2 1 8 7
Down Payment
(%) 4 9 4 1
Rate of Interest
(%) 11 4 0 3
LIMITATIONS
1. In the mid car segment (Rs. 5-10 lakhs), 80% of customers preferred a
fixed rate of payment while only 20 % were receptive towards floating
interest rates.
5. Other than the Rate of Interest which was the ranked the most
important factor (78%), down payment, prepayment charges, loan
tenor and loan disbursement were ranked as important factors in
determining an auto loan.
4. Loan tenor, LTV deal, and loan disbursement were important factors
selected after the Rate of Interest.
Due to the low number of respondents in the Luxury car segment
because of lack of availability of respondents and time constraint
factors, a more comprehensive analysis could not be obtained.
PART E
APPENDICES
We would be grateful if you could answer the following questions honestly. Your
valuable time spared will assist us in collecting relevant data in our area of research.
All information collected will be treated as confidential. Information gathered is
strictly for research purpose.
2) What would be the price range of the Car you intend to purchase? (Rs. In lakhs)
Above 20 lakhs
3) What type of Rate of Interest (ROI) facility do you prefer on your auto loan deal?
Fixed Floating
4) What is the % of Loan to value (LTV) deal you expect for your auto loan?
Less than 50% 50-70% 70-80% 80-90% 90-100%
Step Up
Step Down
Bullet Payment
9) What kind of additional services do you expect along with your auto loan? Please check the
boxes below:
Zero Balance Savings A/c for Self & 100% Loan Disbursement
*Notes:
Step down EMI – If bulk payments are made during the currency of the
loan, EMI can be reworked for the remaining liability retaining the same
tenor.
Rear End Balloon EMI: You have to pay the EMI at the end of each month.
Also known as Rear-Ended EMI
RESEARCH PROPOSAL
Report On:
Submitted To
Dr.VijayWagh
Group No.
Group Members:
Durvesh Galvankar -
120
Pinki Tiwani - 141
Sagar Gala - 151
Urvaksh Mohta - 168
PROBLEM STATEMENT:
To study the satisfaction level of existing ICICI Bank Auto loan customers.
1. Exploratory Research
2. Descriptive Research
Exploratory Research:-
Descriptive Research:-
HYPOTHESIS:
Set 1- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
dependent on service.
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not
Set 2- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not
Set 3- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
dependent on competitors.
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not dependent on competitors.
BENEFITS OF STUDY:
• The study will help ICICI Bank Car Loan availers to focus their
attention on the loans offered in this segment by ICICI Bank which is
attractive and competing aggressively with other bank loans in the
auto sector.
• The study will help customers to know about the intricacies of the
auto loans provided by the ICICI Bank and how it compares with
other leading banks.
• Which factors influence the most while opting for Auto loans from a
particular bank.
• It will also help us analyze the future opportunities for banks in the
Auto loan market.
• With more and more attractive car brands and models jostling for
the consumer’s attention, banks and financial institutions are
competing aggressively to offer the most customer-friendly loan
schemes.
Websites
http://auto.indiamart.com/auto-finance/#tab
http://auto.indiamart.com/auto-finance/documents-required.html
http://auto.indiamart.com/auto-finance/car-finance.html
http://www.rupeetimes.com/compare/car_loans/state_bank_of_india.html
http://www.icicibank.com/aboutus/about-us.html
Report
Target Population
The Population consists of all customers desirous of financing their car
purchase through loans provided by ICICI bank.
Sample frame
The Sample frame consists of all customers visiting ICICI bank.
Sampling Method
Probability sampling is used as the sampling frame is available,
population is homogeneous and population details are available.
Sampling Procedure
Simple random sampling
The population has different categories like people belonging to different
age groups, different income levels each have different perceptions of a
loan product depending upon their need. So we are using simple random
sampling.
n = (Z2*p*q)
E2
where,
Software To Be Used
To aid in the process of data analysis we have used the Microsoft Office
Software.
• Administration of
the questionnaire
• Asking questions
personally
Name Qualification
• Laptop
• Computer with Internet connection
• Printers
• Xerox Machine
• Pendrive
• Mobiles
Bibliography:
www.auto.indiamart.com
www.rupeestimes.com
www.crm2day.com
www.indiainfoline.com
www.icicibank.com