I agree with the views and would like to add.
The most important criteria for deposits appear to be 1. safety factor followed by 2. interest level and then 3. service levels. This is strongly indicated by the fact that PSBs continue to have major share of deposits despite low savings interest rate and indifferent service levels. If the govt were to withdraw their safety guarantee, I am sure the deposits will tend to evaporate.
Therefore as long as the bank meets the criteria of a particular class of customers, the deposits will remain sticky. In my opinion Customers/deposits are sticky due to the characteristics of the glue( composite offering by the bank) and not the other way round. Every Customer needs a bank for his deposits without any other option and will shift to another bank only if he gets a distinctly superior package of safety+ interest rate+service.
HDFC is popular because everybody you transact with has an HDFC a/c and transfers are smooth and instant. It has Large network of branches and ATMs and service levels are good. They charge you a premium through lower interest. IDFC is however doing well in building credibility and trust, which is the most important factor. But they have a long way to go to achieve the status of “too big to fail”. They seem to have already achieved “too important to fail”. Their service levels are the best in my experience and a 7% interest in savings a/c is a powerful magnet.
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