A Comparative Analysis of Deposit Products in Banking Industry: An Opportunity for Eastern Bank Ltd.
Journal of Investment and Management
Volume 3, Issue 1, February 2014, Pages: 7-20
Received: Dec. 20, 2013; Published: Jan. 30, 2014
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Authors
Md. Ariful Islam, BASIC Bank Limited, Khulna, Bangladesh
Proshenjit Ghosh, Brac Bank Ltd, Dhaka, Bangladesh
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Abstract
Eastern Bank Limited (EBL) is a second generation commercial bank with urban banking focus. It is offering various deposit account products under consumer banking. There are ample opportunities to explore and expand the existing customer base. The end result would be an increase in revenues of the bank. This is an exploratory research where a comparative analysis of the deposit products in banking industry has been executed and opportunities for Eastern Bank Ltd. have been identified. Several analytical tools (Comparative Study, Strategic Group Mapping analysis, SWOT etc.) has been used to analyze the findings. The researcher collected data from secondary sources. For the purpose of comparison, two types of deposit products are taken into consideration, namely: Savings Account / Special Savings Accounts and Term Deposit Accounts. After analyzing the existing product offering, market exploration and growth, EBL should offer some of the term deposit products as well as savings products with its existing products. The costs associated with the products must be considered and EBL should offer the products with significant intervals which would give the operators and sales team ample scope and time to get used to the products. Amongst the options stated above, the products that can be offered are: EBL Prepaid Savings Account; EBL Senior Citizen Account; EBL Privileged Account; EBL Millionaire Scheme; EBL Children’s Education Savings Plan; EBL Holiday Plan/Wedding Plan; EBL Senior Citizen Deposit Scheme/Retirement Deposit Scheme; EBL Interest First Scheme; EBL Home Deposit Plan.
Keywords
Deposit, Interest, Savings, Service, Current, Scheme, Customer, Banking, Tenure, Fixed Deposit, Plan
To cite this article
Md. Ariful Islam, Proshenjit Ghosh, A Comparative Analysis of Deposit Products in Banking Industry: An Opportunity for Eastern Bank Ltd., Journal of Investment and Management. Vol. 3, No. 1, 2014, pp. 7-20. doi: 10.11648/j.jim.20140301.12
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