EXECUTIVE SUMMARY

Customer satisfaction is a term frequently used in marketing. It is a measure of how

products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total
customers, whose reported experience with a firm, its products, or its services (ratings)
exceeds specified satisfaction goals.
Syndicate Bank offers various products and services and Syndicate Debit-cum-ATM cards
are one of the products of Syndicate Bank and other product and services providing by
customer.
Private banking is a concept which is new and fast emerging in the world of banking
wherechanges have become a necessity in order for banks to survive in this competitive
environment vis--vis not only from the public and private sector banks but also from the
foreign banks.
The objective of the research is to explore the various products, which a private banker
deals into and the systematic process involved to match client requirements with the right
kind of product.
Through this research one of the main objectives is to explore the reason why most of
the banks are injecting private banking as business profile to their set of service offerings.

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CHAPTER-I

1. INTRODUCTION OF CUSTOMER SATISFACTION

1.1 Introduction:

Customer satisfaction is a term frequently used in marketing. It is a measure of how

products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total
customers, whose reported experience with a firm, its products, or its services (ratings)
exceeds specified satisfaction goals.
It is seen as a key performance indicator within business and is often part of a Balanced
Scorecard. In a competitive marketplace where businesses compete for customers,
customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy.
"Within organizations, customer satisfaction ratings can have powerful effects. They
focus employees on the importance of fulfilling customers' expectations. Furthermore,
when these ratings dip, they warn of problems that can affect sales and profitability....
These metrics quantify an important dynamic. When a brand has loyal customers, it gains
positive word-of-mouth marketing, which is both free and highly effective."
Therefore, it is essential for businesses to effectively manage customer satisfaction. To be
able do this, firms need reliable and representative measures of satisfaction.
"In researching satisfaction, firms generally ask customers whether their product or service
has met or exceeded expectations. Thus, expectations are a key factor behind satisfaction.
When customers have high expectations and the reality falls short, they will be
disappointed and will likely rate their experience as less than satisfying. For this reason, a
luxury resort, for example, might receive a lower satisfaction rating than a budget motel
even though its facilities and service would be deemed superior in 'absolute' terms."

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The importance of customer satisfaction diminishes when a firm has increased bargaining
power. For example, cell phone plan providers, such as AT&T and Verizon, participate in
an industry that is an oligopoly, where only a few suppliers of a certain product or service
exist. As such, many cell phone plan contracts have a lot of fine print with provisions that
they would never get away if there were, say, 100 cell phone plan providers, because
customer satisfaction would be far too low, and customers would easily have the option of
leaving for a better contract offer.
There is a substantial body of empirical literature that establishes the benefits of customer
satisfaction for firms.

1.2 Definition:
The degree of satisfaction provided by the goods or services of a company as measured by
the number of repeat customers.
Customer satisfaction is a marketing term that measures how products or services supplied
by a company meet or surpass a customers expectation.

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1.3 Purpose
"Customer satisfaction his provides a leading indicator of consumer purchase intentions
and loyalty."

"Customer satisfaction data are among the most frequently collected indicators of market
perceptions. Their principal use is twofold:"

1.

"Within organizations, the collection, analysis and dissemination of these data send a
message about the importance of tending to customers and ensuring that they have a
positive experience with the company's goods and services."

2.

"Although sales or market share can indicate how well a firm is performing currently,
satisfaction is perhaps the best indicator of how likely it is that the firms customers will
make further purchases in the future. Much research has focused on the relationship
between customer satisfaction and retention. Studies indicate that the ramifications of
satisfaction are most strongly realized at the extremes."

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1.4 IMPORTANT OF CUSTOMER SATISFACTION

Customer satisfaction is important because it provides marketers and business owners with
a metric that they can use to manage and improve their businesses.

Here are the top six reasons why customer satisfaction is so important:

Its a leading indicator of consumer repurchase intentions and loyalty

Its a point of differentiation

It reduces customer churn

It increases customer lifetime value

It reduces negative word of mouth

Its cheaper to retain customers than acquire new ones

1. its a leading indicator of consumer repurchase intentions and loyalty:

Customer satisfaction is the best indicator of how likely a customer will make a purchase
in the future. Asking customers to rate their satisfaction on a scale of 1-10 is a good way to
see if they will become repeat customers or even advocates.
Any customers that give you a rating of 7 and above, can be considered satisfied, and you
can safely expect them to come back and make repeat purchases. Customers who give you
a rating of 9 or 10 are your customer advocates who you can leverage to become
evangelists for your potential company.
Scores of 6 and below are warning signs that a customer is unhappy and at risk of leaving.
These customers need to be put on a customer watch list and followed up so you can
determine why their satisfaction is low.

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2. Its a point of differentiation:

In a competitive marketplace where businesses compete for customers; customer
satisfaction is seen as a key differentiator. Businesses who succeed in these cut-throat
environments are the ones that make customer satisfaction a key element of their business
strategy.
Picture two businesses that offer the exact same product. What will make you choose one
over the other?
If you had a recommendation for one business would that sway your opinion? Probably.
So how does that recommendation originally start? More than likely its on the back of a
good customer experience. Companies who offer amazing customer experiences create
environments where satisfaction is high and customer advocates are plenty.
This is an example of where customer satisfaction goes full circle. Not only can customer
satisfaction help you keep a finger on the pulse of your existing customers, it can also act
as a point of differentiation for new customers.

3. It reduces customer churn:

An Accenture global customer satisfaction report (2008) found that price is not the main
reason for customer churn; it is actually due to the overall poor quality of customer
service.
Customer satisfaction is the metric you can use to reduce customer churn. By measuring
and tracking customer satisfaction you can put new processes in place to increase the
overall quality of your customer service.
I recommend you put an emphasis on exceeding customer expectations and wowing
customers at every opportunity. Do that for six months, than measure customer satisfaction
again. See whether your new initiatives have had a positive or negative impact on
satisfaction.

4. It increases customer lifetime value:

A study by Info Quest found that a totally satisfied customer contributes 2.6 times more
revenue than a somewhat satisfied customer. Furthermore, a totally satisfied customer
contributes 14 times more revenue than a somewhat dissatisfied customer.

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Satisfaction plays a significant role in how much revenue a customer generates for your
business.
Successful businesses understand the importance of customer lifetime value (CLV). If you
increase CLV, you increase the returns on your marketing dollar.
For example, you might have a cost per acquisition of $500 dollars and a CLV of $750.
Thats a 50% ROI from the marketing efforts. Now imagine if CLV was $1,000. Thats a
100% ROI!
Customer lifetime value is a beneficiary of high customer satisfaction and good customer
retention.

5. It reduces negative word of mouth:

McKinsey found that an unhappy customer tells between 9-15 people about their
experience. In fact, 13% of unhappy customers tell over 20 people about their experience.
Thats a lot of negative word of mouth.
How much will that affect your business and its reputation in your industry?
Customer satisfaction is tightly linked to revenue and repeat purchases. What often gets
forgotten is how customer satisfaction negatively impacts your business. Its one thing to
lose a customer because they were unhappy. Its another thing completely to lose 20
customers because of some bad word of mouth.
To eliminate bad word of mouth you need to measure customer satisfaction on an ongoing
basis. Tracking changes in satisfaction will help you identify if customers are actually
happy with your product or service.

6. Its cheaper to retain customers than acquire new ones:

This is probably the most publicized customer satisfaction statistic out there. It costs six to
seven times more to acquire new customers than it does to retain existing customers.
If that stat does not strike accord with you then theres not much else I can do to
demonstrate why customer satisfaction is important.
Customers cost a lot of money to acquire. You and your marketing team spend thousands
of dollars getting the attention of prospects, nurturing them into leads and closing them
into sales.

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Why is it that you then spend little or no money on customer retention?

Imagine if you allocated one sixth of your marketing budget towards customer retention.
How do you think that will help you with improving customer satisfaction and retaining
customers?

Here are some customer retention strategies to get you thinking:

Use blogs to educate customers

Use email to send special promotions

Use customer satisfaction surveys to listen

Delight customers by offering personalized experiences

1.5 OBJECTIVE OF CUSTOMER SATISFACTION

Customer satisfaction is the degree to which a buyer is satisfied with a product, service or
company. Customer satisfaction objectives can be broken down into three main groups.
The first is satisfaction with the purchase, which includes how well the product performed,
and whether it met customer expectations and similar perceptions.
The second is satisfaction with the process, which includes ease of making the purchase as
well as customer service or warranty interactions after the purchase.
The third of the main customer satisfaction objectives is the degree to which satisfaction
levels affect future actions, such as recommending a product to others or buying again.
Companies are very interested in ensuring that customers are happy with the performance
of a product or the quality of service because it will affect future purchase decisions. In
fact, quality may be the most important of the customer satisfaction objectives because the
consequences of a bad product or poorly performed service are virtually impossible to
overcome. Companies often perform extensive market research and product testing to
ensure that the product or service will meet as many of a client's needs and expectations as
possible.

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Objectives of Study

To know the financial products offered by syndicate bank.

To understand what is customer satisfaction.
To understand importance and objective of customer satisfaction.
To study the customer satisfaction in banking products.
To study advantages and disadvantages of financial product in
syndicate bank.

Methodology
This project is the desk study done through primary research and secondary
sources. Visit to websites and banking websites.
The secondary information is collected from various books, relevant banks
websites.

Limitations

This project is depending in more upon secondary data.

Website and reference books were main source.
Genuineness of the facts is not granted.

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CHAPTER-II

INTRODUCTION OF BANK

2.1 ABOUT SYNDICATE BANK

Syndicate Bank is one of the oldest and major commercial banks of India. It was founded
by T M A Pai, Upendra Pai and Vaman Kudva. At the time of its establishment, the bank
was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13
major commercial banks of India, was nationalized on 19 July 1969, by the Government
of India.
Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal
Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai,
a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician - who shared
a strong commitment to social welfare.
Their objective was primarily to extend financial assistance to the local weavers who were
crippled by a crisis in the handloom industry through mobilizing small savings from the
Community.
The bank collected as low as 2 annas daily at the doorsteps of the depositors through its
Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand
equity today and the Bank collects around Rs. 2 crore per day under the scheme.

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The progress of Syndicate Bank has been synonymous with the phase of progressive
banking in India. Spanning over 80 years of pioneering expertise, the Bank has created for
itself a solid customer base comprising customers of two or three generations. Being
firmly rooted in rural India and understanding the grass root realities, the Bank's
perception had vision of future India.
It has been propagating innovations in Banking and also has been receptive to new ideas,
without however getting uprooted from its distinctive socio-economic and cultural ethos.
Its philosophy of growth by mutual sustenance of both the Bank and the people has paid
rich dividends.
The Bank has been operating as a catalyst of development across the country with
particular reference to the common man at the individual level and in rural/semi urban
centres at the area level.
The Bank is well equipped to meet the challenges of the 21st century in the areas
of information technology, knowledge and competition. A comprehensive IT plan is being
put in place and the skills and knowledge of the Bank's personnel are being upgraded
through a variety of training programmes to promote customer delight in every sphere of
its activity.
The Bank has launched an ambitious technology plan called Centralized Banking Solution
(CBS) whereby 500 of our strategic branches with their ATMs are being networked
nationwide over a 4 year period. The Bank is pioneer among Public Sector Banks on
launching CBS. Our bank has already achieved CBS implementation among all its
branches.
Thus, the bank is 100% CBS enabled.

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2.2 HISTORY OF SYNDICATE BANK:

Established in the year 1925, Syndicate Bank had its first office in the coastal region of
Karnataka, Udupi. It was then named as 'Canara Industrial & Banking Syndicate Ltd'. The
bank was initiated by a trio - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva,
an engineer and Dr.T M A Pai, a physician, with a capital of Rs. 8000. During that time,
the crisis in the handloom industry crippled the local weavers completely. The main aim of
Syndicate Bank was to provide financial assistance to them, by mobilizing small savings
from the community.
The bank with its socio-economic aim was making extensive growth and advancement and
entered Foreign Exchange business by opening Foreign Exchange Department at Bombay.
In 1964, the bank changed its name to 'Syndicate Bank Limited' and the head office was
also shifted from Udupi to Manipal. The bank had then set up an Economic Research
Department, being one of the first few Banks to emphasize on research in Banking, even
before nationalization. In 1971, it opened the first specialized branch in Foreign Exchange,
in Delhi. Five years later, it opened its first overseas branch opened at London.
Three years later, in 1928, the bank came up with Pigmy Deposit Scheme, in which it
collected as little as 2 annas per day, at the doorsteps of the depositors through its agents.
The scheme existing till date, earns the bank a sum of Rs. 2 crore daily. In the same year,
Syndicate bank opened its first branch at Brahmavar in Dakshina Kannada District. It
became a member of the Clearing House for the first time at Bombay, in 1937. Almost a
decade later, Syndicate Bank opened 29 branches opened in a single day in rural areas. Its
100th branch opened at ilkal in Karnataka in1957.
In 1984, Syndicate Bank opened its 1000th branch in Hauz Khas, Delhi. In the same year,
it undertook the management of Musandam Exchange Co. in Muscat. Five years thence, in
1989, Syndicate Bank opened its 1500th branch at Kanakumbi. In 1999, it raised a capital
of Rs. 125 Crore from its more than 4 lakh shareholders. Next year, in 2000, the bank
established its first specialized Capital Market Services, at Mumbai. In 2003, Syndicate
Bank entered into a MOU with Bajaj Allianz, for distribution of Life Insurance products.
In 2004, syndicate bank amalgamated with United India Insurance Co. Ltd. for distribution
of non-life Insurance products.
In 2004, Syndicate Bank also started utility bill payment services through Internet banking
introduced. In 2005, the bank commenced the online reservation of railway tickets through
Indian Railway Catering & Tourism Corporation Ltd for its customers. It was during this
time that it entered into a MOU with SFAC for promoting of investments in Agri-business
products. The 2000th branch was opened at Tondiarpet, Chennai, in 2006.

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In the same year, the bank commenced the first BPO outfit of a Nationalized Bank,
Syndicate Bank Services Limited. This was a wholly owned of syndicate bank.
With the age of progressive banking, Syndicate Bank has created a name for itself in the
last 80 years. Rooted in rural India, the Bank has a clear picture of the grass root realities
and a vision of future India. Changing with the changing times, the Bank has well
equipped itself with all the facilities of the new age, without, however, altering its
distinctive socio-economic and cultural culture. Syndicate Bank's unique principle of
mutual development, of both the Bank and the people, has won it a long list of clientele,
which includes both the rural and the semi-urban class.

Business:
The business started with a capital of Rs. 8000. The first branch of the bank started its
operations in the year 1928 at Brahmavar inDakshin Kannada District. By 1937, it had
secured its membership as a clearing houseatMumbai. The primary objective of the
business was to extend the financial assistance to local weavers. Initially, the bank
collected as low as two annas from the door steps of the depositors daily through its
agents. This type of system wherein the agents of the bank come doorsteps to collect
deposit is still prevailing in India and is referred to as the Pigmy Deposit Scheme.

The bank is engaged in following business:

Personal Banking Under this segment it offers banking products and services for age
groups starting from children to senior citizen. It offers saving accounts, deposit scheme,
current accounts, personal loans, housing loans, cash etc.
Agricultural Banking With an objective to cater agricultural population, it has introduce
many products and services to cater their requirements. It offers various kinds of loans
such as tractor loans, loans to repay debts and many more other services.
Corporate banking It caters services from large corporate to small and medium
enterprises. The bank provides cash management services, loans, RTGS, etc.
NRI BankingIt also caters its products and services to NRI clients such as remittances
services, western union money transfer, loans against term deposit, currency exchange etc.

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Mergers:
As time progressed, twenty banks merged with the Candara Industrial and Banking
Syndicate Limited including the Maharashtra Apex Bank Limited and Southern India
Apex Bank Limited. The name of the bank was changed to Syndicate Bank Limited in the
year 1964 and the head office of the bank was shifted to Manipal. The bank expanded its
operations not only on the domestic front but also overseas. It has a branch in London and
the bank manages National Exchange Co. in Doha and Musandam Exchange Co. in
Muscat. By 1978, it opened its 1000th branch atHauz Khas,Delhi. Currently it has over
2650 branches and all branches are offering core banking-e-banking services under
anywhere-anytime-anyhow banking.

Regional rural banks:

Syndicate Bank sponsored the first regional rural bank in India by name Prathama
Grameena Bank. The stocks of the Syndicate Bank are listed on Bombay Stock Exchange,
National Stock Exchange, Mangalore Stock Exchange and Bangalore Stock Exchange.
Syndicate bank made a partnership with UNEP to initiate a successful solar loan
programmed. It was a four-year $75855.6 million effort, launched in April 2003 to help
accelerate the market for financing solar home systems in southern India.
Syndicate bank today is placed in the league of large and leading public sector bank in
India.

The bank is a pioneer in introducing several initiatives such as agricultural financing and
door-to-door banking, which are now recognized as benchmark by the industry. The
bank offers wide gamut of services including deposits, corporate and retail
loans, cash management, foreign trade services, cards, insurance. Syndicate bank has
won accolades for its service in rural communities and achieving exemplary customer
services an ongoing priority for the bank.

The bank has a large network of 2,125 b r a n c h e s i n I n d i a w i t h o v e r s e a s

p r e s e n c e i n L o n d o n a n d b o a s t s o f w orkforce of over 25000 employees. In
addition, it has been managing exchange companies in the Middle East to channelize
remittance from expatriates to India.

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The Bank has launched an ambitious technology plan called Core Banking Solution
(CBS) whereby 500of our strategic branches with their ATMs are being
networked nationwide over a 4 year period.
The bank has made steady progress over the years and has had a consistent performance
throughout.
The IT initiatives of the Bank have been amply recognized and rewarded both nationally
and globally, which can be seen from the following awards won by the Bank during this
year.
1. Best use of IT for customer service in Semi-urban and Rural areas by
IDRBT, Hyderabad.
2. Best Core Banking Project among Large Banks in Asia Pacific Region The
Asian Banker IT Implementation Awards.

The bank is known for its customer friendly approach. The bank is committed to
providing high quality customer service and timely redressed of
customer grievances.

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CHAPTER-III

3.

CUSTOMER SATISFACTION STUDIES IN SYNDICATE

BANK

Syndicate Bank was founded in 1925 under the name 'Canara Industrial and Banking
Syndicate' in Udupi, Karnataka with seed capital of Rs.8000. It was established by three
visionaries Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and
Dr.T M A Pai, a physician with an intention to provide financial support to the local
weavers.
Under its Pigmy Deposit Scheme started in 1928, the bank used to collect 2 annas daily at
the doorsteps of the depositors through its Agents. Much later in 1963 the name was
changed to Syndicate Bank.
Syndicate Bank introduced a new hassle free solution for investment in Public Issues and
Rights Issue called Application Supported by Blocked Amount (Synd ASBA) as per the
SEBI guidelines.
Unlike the current system of applying in IPOs using cheques, where the funds are blocked
unproductively as application money till the finalisation of the allotment/bid. Under
ASBA the funds will continue to earn interest during the application processing period as
application money remains blocked in account till allotment. Account will be debited only
successful allotment. This facility is also available for rights issue and new fund offers
(NFO) of mutual funds.

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3.1 PRODUCT AND SERVICES OFFERED BY SYNDICATE BANK

Syndicate Bank offers various products and services and Syndicate Debit-cum-ATM cards
are one of the products of Syndicate Bank. These cards can be used in India and abroad
both and these cards are offered to all the eligible account holders of Syndicate Bank.
Syndicate Bank offers two types of debit cards and those are Syndicate Bank Global Visa
Debit Card and Syndicate Bank Global Maestro Debit Card. These cards can be used to
pay for any of the expenses like shopping, traveling, dining, movie tickets, etc. It can also
be used online for the mobile bill payments, online bill payments, shopping, ticket
booking, etc.
Customers can also visit the ATM Centers available all over India and can use these cards
to perform balance inquiry, mini statement, fund transfer, cash withdrawals and many
more things.

1) Deposits:

Operative Deposit Products

Operative Deposit Products:

Savings Bank Account

Current Account

Savings Bank Account:

These accounts are designed to help the individuals (personal customers) to

inculcate the habit of saving money and to meet their future requirement of money.
Amounts can be deposited/withdrawn from these accounts by way of cheques /
withdrawal slips. It helps the customers to keep minimum cash at home besides
earning interest.

These accounts can be opened by eligible person/s and certain organisations /

agencies (as approved by the Reserve Bank of India (RBI)

As required by law, while opening SB account, the Bank will satisfy itself about
the identity. including verification of address, of a person/s seeking to open an
account, to assist in protecting the prospective customer/s, members of the public and

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ourselves against fraud and other misuses of the banking system.

The Bank requires a satisfactory introduction of the person/s opening the account
by a person acceptable to the Bank.

The Bank is required to obtain two recent photographs of the person/s opening
the account, as per RBI directives.

The Bank is required to obtain Permanent Account Number (PAN) or General

Index Register (GIR) Number or alternatively obtain declaration in Form No. 60 or
61 as per the Income Tax Act (vide Section 139 A) from the person/s opening the
account.

The Bank will provide to the prospective customers details of the documents
required for identification of the person/s opening the account in addition to a
satisfactory introduction. Documents normally accepted are the current gas /
telephone / electricity bill or voter's identity card or driving licence or passport etc.

The account holder is required to maintain certain minimum balance in the

account, as specified by the Bank from time to time according to the population
category of the branch concerned and also depending on, whether account holder
wants to avail the cheque book facility or not. Non-compliance of this would attract
service charges. Interest is presently paid on half yearly basis calculated on a daily
product basis, with a minimum of Rs.1/-.

Cheques, dividend warrants drawn in the name of account holder/s will only be
collected through this account. Instruments endorsed in favour of the account holder/s
will not be collected through savings bank account.

Business transactions shall not be routed through Savings Bank Account. If

routed, the Bank will recover the interest paid and may also close the account. The
Bank has the right to close any undesirable/unremunerative account without giving
any reason by a simple notice to the account holders.

Current Account:
Current Accounts can be opened by individuals, partnership firms, private and public limited
companies, HUFs/specified associates, societies, trusts, etc.

As required by law, while opening this account, the Bank will satisfy itself about the
identity, including verification of address, of a person/s seeking to open an account, to
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assist in protecting the prospective customer/s, members of the public and ourselves
against fraud and other misuses of the banking system.
The Bank requires a satisfactory introduction of the person/s opening the account by a
person acceptable to the Bank.
The Bank is required to obtain two recent photographs of the person/s opening /
operating the account, as per R B I directives.
The Bank is required to obtain Permanent Account Number (PAN) or General Index
Register (GIR) Number or alternatively obtain declaration in Form No.60 or 61 as per
the Income Tax Act (vide Section 139 A) from the person/s opening the account (i.e.
including partners of Registered / Unregistered partnership as also Registered /
Incorporated bodies / companies).
The Bank will provide the prospective customers details of the documents required
for identification of the person/s opening the account in addition to a satisfactory
introduction. Documents normally accepted are the current gas / telephone /
electricity bill or voter's identity card or driving licence or passport etc.

Term Deposit Products

Term Deposit Products

Recurring Deposit

Fixed Deposit

SyndTaxShield Deposit

Vikas Cash Certificate

Syndicate Suvidha Deposit

Social Security Deposit

Senior Citizens Security Deposit

Pigmy 1928 Deposit

Pigmy Plus 2007 Deposit

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Recurring Deposit:
An ideal scheme of monthly savings for salaried people,businessmen,professionals
etc.Small amounts saved every month for a long period come in handy to meet large
financial commitments in the future.
Salient features of the scheme are:

Minimum deposit is Rs.100/-per month.

Period of deposit ranges from 12 months to 10 years.

Delayed payment of instalments are accepted with nominal penalty.

Monthly minimum balance in the account earns compound interest every quarter.

No tax is deducted from the interest on the deposit.

Loans up to maximum of 95% of the deposit amount available depending on the

length of the unexpired period of the deposit.

Nomination facility available.

The rates of interest are as fixed by the Bank from time to time.

Fixed Deposit:
A regular interest earning scheme. A flexible and convenient deposit scheme which
ensures that your money never remains idle. Even very small amounts earn interest
for very short periods. Yes. You can deposit an amount of just Rs.1000/- for a period
as short as 15 days and make it grow.
Salient features of the scheme are:

Minimum deposit Rs.1000/-

Deposits accepted for periods ranging from 15 days to 120 months.

Option available for receiving monthly interest at discounted rates or quarterly

interest.

Premature withdrawal of deposit is permitted any time subject to payment of

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prescribed penalty.

Loans available upto a maximum of 95% of the deposit amount depending on the
length of the unexpired period of the deposit.

Senior Citizens & Staff will be eligible for additional Rate of interest as per
applicable norms.

Nomination facility available.

The rates of interest on deposits are as fixed by the Bank from time to time.

The features of SyndTaxShield Deposit Scheme:

The new product SyndTaxShield is drawn on the lines of the Union Government
notification on Bank Term Deposit Scheme, 2006 for the purpose of Sec 80C(2)(xxi)
of the Income Tax Act.

Eligibility Individuals / HUF eligible to open an account with the Bank.

Minimum Deposit Rs. 100/- and multiples of thereof.

Maximum Deposit Rs. 1,00,000/- per person per annum.

Tenure Minimum of 5 Years.

Rate of Interest Deposits under SyndTaxShield Scheme will earn interest at the
rate applicable to the relevant period.

Senior Citizens & Staff will be eligible for additional Rate of Interest as per
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applicable norms

Withdrawal Facility No premature withdrawal facility available upto 5 years

from the date of deposit.

Nomination Facility available.

Deposits Account may be opened under Single / Joint holder type of Accounts.

Payment of Interest
Option I - Interest may be paid in Lump sum at the time of maturity
Option II- Interest may be paid every quarter or every month at discounted value
as per rules in force.

Term Deposits under this scheme are not eligible for pledge to secure loan or as
security to any other asset.
Interest Income from these term deposits shall be liable to tax under the IT Act.

The Deposit under the Scheme has to be in the presribed form with the Fixed
Deposit Receipt bearing Permanent Account Number (PAN) and signature of the
assessee along with the name and address of the account holder and other details.

Vikas Cash Certificate:

A Money Multiplier scheme - Vikas Cash Certificate is a convenient and attractive
reinvestment plan where interest earns interest every quarter to provide a tidy sum on
maturity. An ideal and fast growing scheme for those with big future commitments in
mind viz., children's education, daughter's marriage, house purchase etc.
Salient features of the scheme are:

Minimum deposit Rs.1000/- and thereafter in multiples of Rs.100/-

Period of deposit ranges from 6 months to 10 years in completed quarters.

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Interest compounded every quarter.

Senior Citizens & Staff will be eligible for additional Rate of interest as per
applicable norms.

Premature withdrawal of the deposit is permitted any time on payment of the

prescribed penalty.

Loans upto a maximum of 95% of the balance available depending on the length
of the unexpired period of the deposit.

Nomination facility available.

The rates of interest are as fixed by the Bank from time to time.

Syndicate Suvidha Deposit:

A Fixed Deposit with partial withdrawal facility - A flexible and convenient scheme
whereby a deposit is made for a fixed period from which amounts can be withdrawn
as and when needed. It is ideally designed for those who desire the high interest on
their fixed deposit with the operational convenience of withdrawals in times of need.

Pigmy Deposit:
Little drops of water make a mighty ocean - This deposit scheme suits the needs of
everyone viz. businessmen, professionals, wage earners, teachers, salaried personnel,
traders, housewives etc. You can save money with the Bank regularly depending on
your convenience. And you need not visit the Bank for doing so.
The Bank's authorised Agent collects your savings at your doorsteps at regular
intervals. And your money silently grows over 63 months into a lumpsum for meeting
your future commitments e.g. daughter's marriage, children's education, family

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functions, house purchase etc.

Salient features of the scheme are:

Period of the scheme is 63 months.

Amount as low as Rs.5/- per day can be saved daily / weekly / monthly.

No penalty even if depositor is unable to pay instalments regularly.

Deposit account can be closed prematurely subject to certain conditions.

Loans upto a maximum of 75% of the balance in the Pigmy account available.

Nomination facility available.

No tax will be deducted for the interest on the deposit.

The rates of interest are as fixed by the Bank from time to time.

Pigmy plus deposited (2007)

Save money at your convenience. A new deposit scheme comparable to the Banks
Pigmy (1928) Deposit Scheme, but with added features for increased customer
compatibility. The Banks Authorized agent will collect your savings at your
doorsteps at daily or less frequent intervals in tune with your convenience. Any day
after 12 months of opening the Deposit, the amount equal to or exceeding ` 5000/- in
the Deposit Account, can be transferred to a term deposit account at the ruling interest
rate subject to the terms of the Scheme, listed below:
1. Minimum Contribution per occasion : `5/2. Period of Deposit : 72 months.

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3. Premature refund :
i)Before 24 months: Permitted with penalty and without interest.
ii) 24 months & above : Interest on deposit will be paid at rates ranging from 2 % to
5%, (as fixed by the Bank from time to time), depending upon the period for which
the deposit has remained with Bank.
4. Loan /Overdraft : Loan/OD available up to 75 % of the outstanding balance.
5. Nomination facility : Available.
6. Tax Deduction at source : No tax will be deducted on the interest earned on the
Pigmy +2007 deposit (Before conversion).
7. Conversion :
a.) The deposit can be converted in to a Term Deposit at the customers option after 12
months of opening the account provided the balance outstanding in account is
Rs.5000/ or more.
b.) The converted deposit should have a tenor equal to or exceeding the remaining
maturity period of the original Pigmy+2007 Deposit.

c.) Interest as on other Domestic Term Deposits of corresponding maturities will be

applicable on converted deposit.
d.) Loan/overdraft will be available upto 75 % of the outstanding balance of the
converted Term Deposit on the usual terms and conditions as are applicable to other
term deposits.
e.) TDS rules in force as applicable to other term deposits will be applicable to the
converted term deposit applicable.
f.) In case of premature closure of the converted Term Deposit, no advantage of Term
Deposits, shall be applicable and the same rules as in the case of Pigmy+2007
(collection account), will apply.

2) Loans:
Retail Loan Products:
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SyndSaral

SyndSenior

SyndRent

SyndVahan

SyndSwarnaExpress

SyndPigmy

SyndNivas

SyndVidya

3.) Debit card

A debit card (also known as a bank card or check card) is a plastic payment card that
provides the cardholder electronic access to his or her bank account(s) at a financial
institution. Some cards may bear a stored value with which a payment is made, while
most relay a message to the cardholder's bank to withdraw funds from a payer's
designated bank account. The card, where accepted, can be used instead of cash when
making purchases. In some cases, the primary account number is assigned exclusively
for use on the Internet and there is no physical card.
Debit cards usually also allow for instant withdrawal of cash, acting as the ATM
card for withdrawing cash. Merchants may also offer cashback facilities to customers,
where a customer can withdraw cash along with their purchase.

4)Credit card
A credit card is a payment card issued to users as a system of payment. It allows
the cardholder to pay for goods and services based on the holder's promise to pay for
them. The issuer of the card creates a revolving account and grants a line of credit to
the consumer(or the user) from which the user can borrow money for payment to
a merchant or as a cash advance to the user.

5.) Core Banking Solution (Syndicate-e-banking)

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The Bank is the first among the Public Sector Banks to implement Core Banking
Solution (CBS), way back in 2001.

Currently all of our Branches are in the CBS fold.

The CBS Project has enabled the Bank to deliver banking products and services
over multiple delivery channels like networked ATMs, Telebanking, Internet Banking
and Mobile Banking, so as to provide Anywhere Anytime Anyhow (AAA) banking
service to customers. With the introduction of CBS, the Bank has transformed the
Branch customers to Bank customers thereby achieving significant shift in customer
preference from brick-and-mortar channel to 24x7 delivery channels.

6.)ATM Network

The Bank has rapidly expanded the ATM network considering the fact that
ATMs have become the most acceptable delivery channels. As on 30.09.2013 the
Bank has a network of 1363 ATMs.

The Bank has membership with VISA/Master Card, which extends the usage
of our ATM/Debit Card holders across the country and the globe.

7.) Internet Banking

Online banking is an electronic payment system that enables customers of
a financial institution to conduct financial transactions on a website operated by
the institution, such as a retail bank, virtual bank, credit union or building society.
Online banking is also referred as Internet banking, e-banking, virtual
banking and by other terms.

To access a financial institution's online banking facility, a customer with Internet

access would need to register with the institution for the service, and set up some
password (under various names) for customer verification. The password for
online banking is normally not the same as for telephone banking. Financial
institutions now routinely allocate customers numbers (also under various
names), whether or not customers have indicated an intention to access their
online banking facility. Customers' numbers are normally not the same as account
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numbers, because a number of customer accounts can be linked to the one

customer number. The customer can link to the customer number any account
which the customer controls, which may be cheque, savings, loan, credit card and
other accounts. Customer numbers will also not be the same as any debit or credit
card issued by the financial institution to the customer.
To access online banking, a customer would go to the financial institution's
secured website, and enter the online banking facility using the customer number
and password previously setup. Some financial institutions have set up additional
security steps for access to online banking, but there is no consistency to the
approach adopted.

Internet Banking, which is emerging as an all-pervasive channel, is gaining

acceptance amongst our clientele. The number of users has increased
considerably. In addition to the basic services of account details, statement of
accounts etc., the following services are provided to enhance customer service.

e-ticketing for Railway ticket reservation

Utility Bill payment through Internet banking

Payment of Direct & Indirect Taxes - for both individuals and Corporate

e-Banking related products and services

Special products in Syndicatebanking

Premium Savings Account

MultiCity Current Account (3 variants)

MultiCity SB Account.

8.) Mutual fund services

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Mutual Fund is a trust that pools the savings of a number of investors

who share a common financial goal. The money thus collected is then
invested in different marketable instruments, such as shares,
debentures and other securities. The income earned through these
investments and the capital appreciation realized is shared with its unit
holders in proportion to the number of units owned by them.
Thus, a Mutual Fund is the most suitable investment for the common
man as it offers an opportunity to invest in a diversified, professionally
managed basket of securities at a relatively low cost.

Advantages:
Portfolio Diversification:
As the proverb goes, Do not Keep all your eggs in one basket, diversification into
number of instruments helps reduce the risk of any single holding.

Professional Investment Management:

Asset Management Companies (AMC) are managed by professional fund managers
who carry out the specialized investment activity.

Liquidity:
Open-ended schemes offer liquidity through on-going sale and repurchase facility.
Thus the investor does not have to worry about finding a buyer for their investments.

Low Transaction Cost:

Given its size, we all understand that whenever we buy anything in wholesale, we
get better rates as compared to the retail rates. An AMC thus enjoy greater power of
bargain and is in a position to negotiate better brokerage terms for the sale and
purchase of its investments.

Wide Variety of Investment products:

As the objective of investment is different, one-size-fits-all philosophy will not
work.
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Thus, depending on the investment objective and the time horizon, investors can
choose from a bouquet of Mutual Fund schemes viz. Equity, Debt, Money Market,
ELSS etc.

Flexibility:
Mutual Funds offer flexibility in terms choosing a scheme that matches the
investment to an investor's investment objective.

Transparency:
Information available through fact sheets, offer documents, annual reports and
promotional materials helps provide the investor with the knowledge about their
investments.

Well Regulated:
Mutual Funds in India are well regulated with SEBI monitoring the activities of the
mutual funds.

Tax Benefits:
For equity funds, dividends received from equity schemes of Mutual Funds (i.e.
schemes with equity exposure of more than 65%) are completely tax-free. Neither
does the Mutual Fund have to pay dividend distribution fee nor does the investor
have to pay income tax.

9.) Real Time Gross Settlement (RTGS System) for instant transfer
of funds:
Real Time Gross Settlement (RTGS) is a technology based initiative for improvement of
Payment & Settlement System linked to the funds management. RTGS is a gross
settlement in which both processing and final settlement of funds transfer instructions take
place continuously i.e. in real time and transfers are settled individually against the present
clearing system. RTGS settles payments on a transaction basis instead of on net settlement
basis adopted presently at clearing houses. The funds transfer through RTGS is instant,
final and irrevocable electronic Funds Transfer (EFT) System.

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10.) Electronic Funds Transfer (EFT) System:

The Electronic Funds Transfer (EFT) System was introduced by the Reserve Bank of India
in 1995 for quick movement of funds between different Banks for the Bank Customers.
The scheme is available for transfer of funds across the Banks. At present Reserve Bank
of India manages the Clearing Houses in 15 centres namely Ahmedabad, Bangalore,
Bhubaneshwar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata,
Mumbai, Nagpur, New Delhi, Thiruvananthapuram and Patna.
The EFT system works on the principle of 'NEXT DAY AVAILABILITY OF FUNDS' i.e.
the beneficiary gets the funds credited to his account on the very next day, within 24 hours.
This is a big boon to customer service since under the paper based cheque payment
system, a customer depositing an outstation cheque for collection receives credit to his
account after 12 weeks time, depending upon the destination.
It is hoped that the enhancement in the limit of amount of individual transactions under the
EFT Scheme would be beneficial for the banks' customers and will go a long way in
improving customer service in the banks.

Salient Features:

Fast remittance facility Credit is afforded within 24 hours.

Any number of remittances per day is permitted.

Amount is directly credited to beneficiary account.

Scope for frauds involving processing of paper instruments is absent.

Built in security.
11.) National Electronic Funds Transfer (NEFT) System:
National Electronic Funds Transfer is a nation wide transfer of funds from any bank
branch to any other bank branch. The beneficiary gets the credit on the same day or the
next day depending on the time of settlement.
The essential information that the remitting customer has to furnish is:

Beneficiary details such as beneficiary name and account number.

Name and IFSC of the beneficiary bank branch.

Remitters mobile number or email address.

The bank also offers NRI Services, E Banking Services.
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CHAPTER-IV

DATA ANALYSIS

Accounts maintains in Syndicate bank

Saving Account
Current Account
Fixed Account
Recurring Account
Total

14
04
09
03
30

Saving Account
Current Account
Fixed Account
Recurring Account

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Customers views about Internet banking services

Very satisfied
Satisfied
Not satisfied
Total

20
08
02
30

Very satisfied
satisfied
Not satisfied

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Card users
Debit card
Credit card
Total

25
05
30

Debit card
Credit card

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Customers views about syndicate banking services

Very satisfied
Satisfied
Not satisfied
Total

15
13
02
30

Very satisfied
satisfied
Not satisfied

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CHAPTER-V

FINDINGS & CONCLUSION

FINDINGS
1.) The basic objective of investment is safety.
2.) Many of the people influences to buy or to purchase the product by
advertisement.
3.) Syndicate bank offers innovative services to customers.
4.) The bank is known for its customer friendly approach. The bank is committed
to providing high quality customer service and timely redressed of
customer grievances.
5.) Customers of syndicate bank are satisfied with various services offered by
Syndicate bank.

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CONCLUSION

Customer satisfaction is a marketing term that measures how products or services supplied
by a company meet or surpass a customers expectation.
The degree of satisfaction provided by the goods or services of a company as measured by
the number of repeat customers.
Customer satisfaction is a term frequently used in marketing. It is a measure of how
products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total
customers, whose reported experience with a firm, its products, or its services (ratings)
exceeds specified satisfaction goals.
The main purpose of "Customer satisfaction his provides a leading indicator of consumer
purchase intentions and loyalty."
Customer satisfaction is important because it provides marketers and business owners with
a metric that they can use to manage and improve their businesses.
In 2004, Syndicate Bank also started utility bill payment services through Internet banking
introduced. In 2005, the bank commenced the online reservation of railway tickets through
Indian Railway Catering & Tourism Corporation Ltd for its customers. It was during this
time that it entered into a MOU with SFAC for promoting of investments in Agri-business
products.
The syndicate bank provided by various services in customer satisfaction like such as
deposits, giving a loan, debit card, credit card facilities, ATM facilitates, Internet banking
facilities, core banking facilities, mutual fund and other facilities.
The 2000th branch was opened at Tondiarpet, Chennai, in 2006. In the same year, the bank
commenced the first BPO outfit of a Nationalized Bank, Syndicate Bank Services Limited.
This was a wholly owned of syndicate bank.

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The bank is known for its customer friendly approach. The bank is committed to
providing high quality customer service and timely redressed of
customer grievances.

ANNEXURE I

QUESTIONNARE FOR CUSTOMERS

Name ___________________________
Age____

1. Do you have account with Syndicate bank?

Yes

No

2. Do you think that your bank caters all your banking needs?
Yes

No

3. For the past how many years are you using the banks services?
------------------------------------------------4. What kind of account do you maintain in Syndicate bank?
Saving Account
Current Account
Fixed Account
Recurring Account

5. Which of the following facilities is given more importance in your bank?

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Loan Facilities

ATM Facilities

6. Does your bank have core banking facility for the customers?
Yes

No

7. Which type of card did you uses?

Debit card
Credit card

8. Do you think your bank offers competitive interest rate?

Yes

No

9. How would you describe your views about Internet Banking services?
Very satisfied
Satisfied
Not satisfied

10. How would you describe your views about syndicate banking services?
Very satisfied
Satisfied
Not satisfied

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BIBLIOGRAPHY

Websites visited:

www.google.com
www.slideshare.com
www.wikipedia.com
www.syndicate bank. in

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