Afc Bank Case Study

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IDFC Limited is currently one of the leading integrated financial services companies in India. It offers through its subsidiaries a wide range of customer centric financing solutions and conducts complementary businesses as well. IDFC Bank has been established as a public limited company to carry out the business of banking. IDFC Bank started its banking operations from October 1, 2015 after it received final banking license from the RBI. IDFC banks have three business verticals namely Commercial and wholesale banking, Rural banking, Personal and Business banking. The majority of the branches are in rural India and the quality of customer service and digital banking is the primary focus of the bank. History IDFC is a private infrastructure…show more content…
Personal Banking Accounts: IDFC banks offers 9 types of accounts for the welfare of citizens of India such as zero balance savings account, savings account, corporate salary account, minor savings account, senior citizen’s savings account, pratham savings account, shakti savings account, param savings account, and vishesh savings account. Deposits: the bank offers two types of deposit options to the general public. These are fixed deposit and recurrent deposit. • Fixed Deposit: IDFC provides the facility of fixed deposit at competitive rates without causing any penalty on early withdrawal. It is available at the rate of 7.50% per year. • Recurring Deposit: IDFC offers recurring deposit starting from 2000 per month and is available at high interest rates. Moreover, the bank does not charge any penalty if you miss a month. Recurring deposit should be for at least a period of 6 months. Loans: IDFC bank offers 8 types of loans for the convenience of common people. Different types of loans offered by IDFC bank…show more content…
These are mutual funds, gold bonds, investment linked insurance. Insurances: There are 7 types of insurances offered by IDFC banks namely term insurance, health insurance, motor insurance, home insurance, investment linked insurance, travel insurance and Pradhan mantri insurance. Term Insurance: This offers lifelong protection plan. It also provides maturity benefit of return of premium at the end of term. Health Insurance: Health Insurance provides you with the security of financial coverage for medical requirements and also tax benefits under mediclaim. Motor Insurance: IDFC bank provides coverage of Rs 2 lakhs for the individual owner driver of the vehicle, in direct connection with the vehicle insured or whilst driving or mounting into/dismounting from the vehicle insured as a co-driver. Home Insurance: IDFC bank provides insurance for only the building (structure) of your home, or only the contents (belongings) or both. The policy covers the losses to the structure and/or contents of your home due to specified natural and man-made calamities. Investment Linked Insurance: IDFC bank provides 8 Investment fund options. Flexible Premium payment options of single pay, 5 pay, 7 pay, 10 pay or regular

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