Typically personal loan are unsecured and range anywhere from a few hundred to

Typically personal loan are unsecured and range

This preview shows page 16 - 19 out of 47 pages.

Typically personal loan are unsecured, and range anywhere from a few hundred to few thousand dollars. The downside is that the interest rates on these loans can be quite high. According to the federal reserve, they range from about 10-12% the other negative that these loans sometimes must be repid within two years, making it impractical for individuals looking to finance large projects. In short personal loan (inspite of their high interest rates) are probably the best way to go for individuals looking to borrow relatively small amount of money, and who are able to repay the loan within a couple of years. CROSS SELLING IS DONE BY: Successful cross-selling requires that banks understand what their customers need and that the bank keep track of their interaction via phone banking, web, walk in, etc. Just making phone calls to sell loans or plastic cards that the customer does not desire may often end up annoying him. Analysing the customer database and then putting the right customer relationship management strategies in place is essential to ensure that the cross-selling effort does not backfire. CROSS SELLING IS ALSO AN ADVANTAGE TO CUSTOMERS: Cross-selling comes with its advantages, of course. It considerably reduces customer acquisition costs, servicing, and marketing and communication costs and thereby substantially increases spread for banks. It is well understood and key finding that greater the number of products held by customer leads to an increased probability of retention. IMDR Page 16
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CROSS SELLING SOMETIME CREATE DISTRESS TO THE CUSTOMERS: Customers also would not like their data to be used by Banks to merely send them mailers of no interest to them. They will, however, appreciate a bank that does not try to sell them the same product again and again. It’s also important to keep track of interactions across channels. If the customer declines an offer at the call center, there’s no point in offering the same product when he or she visits the banks Web site. That would be the equivalent of telling them that they are data and not an individual. IMDR Page 17
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OBJECTIVES OF THE PROJECT/INTERNSHIP WORK The objectives of the project are as follows: 1. To identify how many existing customers are actually shifting to digitalisation. 2. To find out which age group customers are actually using digital services. 3. To determine various factors which are migrating customers to shift from physical to digital. 4. To analyse how much customers are satisfied with the technology usage provided by the HDFC bank. 5. To determine how frequently a customer uses digital services of HDFC bank. 6. To find out various reasons which are restricting retail banking customers from using digital banking services. 7. To determine what are the other things which customer expect from HDFC bank.
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  • Fall '17
  • Mahvish ali

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