MGURUKUL TRAINING WAVE

MGURUKUL TRAINING WAVERETAIL OCT’21 (TC)

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INDEX

Sr. No. Topics Page No.

1 Competition Benchmarking 3-10

2 Bank Statement Surrogate 11-12

3 Policy Updates 13-20

COMPETITION BENCHMARKINGOCT’21

SIMPLY SAVE V/S HDFC MONEY BACK

Features SBI Simply Save HDFC MoneyBack Interpretation (Pros/Cons)

Annual Charges Rs. 499 Rs. 500 Annual Fee is Same in both Card

Rate of Interest 3.5% p.m./ 42% p.a. 3.49% p.m./ 41.88% p.a. ROI is same in both Card

Joining Fee Waiver/ Valueback

Spend 2000/- in 1st 60 Days & get 2000 Bonus Reward Points worth

Rs. 500/-

Get 500 RP on payment of Joining Fee.Spend ₹20000 & above in the first 90 days and get

first year membership fee waived off.

Total Spend for joining gift is Rs. 20,000 for HDFC Moneyback Card, which is much higher than our Simply Save card which is Rs. 2000 only

The Joining gift of HDFC MoneyBack is equal to Rs. 100 which is lower than what we are giving in our SBI Simply Save (Rs. 500)

Annual Fee WaiverSpend Rs. 1,00,000 in previous

year and get annual fee reversed for the next year.

Spend Rs. 50,000 in previous year and get annual fee reversed for the next year.

Spends to get Annual Fee Reversal in HDFC Bank Moneyback Card is half of the amount which CM need to spend in Simply Save Card

Normal Reward Points

1 RP/ Rs. 100 on all retail spends 2 RP/ Rs. 150 spent on all retail spends.In HDFC Moneyback card, CM need to spend 150 to get 2 RP, where as in

Simply Save Card CM need to spend Rs. 200 for Simply Save Card

Accelerate RP10 RP/ Rs. 100 spent on dining, department, groceries & movie.

4 RP/ Rs. 150 spent on online purchases.

The Value back on Simply Save Card is better as compare to HDFC Moneyback card

There are 4 Categories in Simply Save Card to get accelerated reward point, which is mainly related to Day to Day Spend whereas HDFC Bank Card is limited

to online transactions only.

Fuel Surcharge Waiver

Get 1% fuel surcharge waiver on minimum transaction of Rs. 500


The minimum spent amount for fuel surcharge waiver is better in HDFC Moneyback card.

Milestone benefit There are no milestone benefitEvery quarter, get a gift voucher worth Rs. 500 on

spends of Rs 50,000. Earn up to Rs. 2,000 worth gift vouchers in a year.

The HDFC Money Back has milestone benefit which is not there in Simply Save Card.

Reward Redemption4 RP = 1 Re. (for adjustment on

bill payments)5 RP = 1 Re. (for adjustment on bill payments)

RP Value is 20 paisa per point in HDFC Money Back Card, whereas in SBI Simple Save Card Value of per Reward Points is 25 paisa 9

SIMPLY SAVE V/S AXIS BANK ACE

Features SBI Simply Save Axis Bank ACE Card Interpretation (Pros/Cons)

Annual Charges Rs. 499 Rs. 500 Annual Fees is same in both Cards

Rate of Interest 3.5% p.m./ 42% p.a. 3.6% p.m./ 52.86% p.a.SBI has interest of 3.5% as maximum interest rate. It is still annually 10% less

than Axis bank ACE interest rate.


Spend 2000/- in 1st 60 Days & get 2000 Bonus Reward Points worth Rs.

500/-

Joining Fee reversed upon spends of Rs. 10,000 within 45 days of card issuance

In Axis bank, CM need to spend of Rs. 10,000 in 45 Days where amount is Rs. 8,000 higher than Simply Save.

Annual Fee WaiverSpend Rs. 1,00,000 in previous year and get annual fee reversed for the

next year.

Spend Rs. 2,00,000 in previous year and get annual fee waived off for the next year.

Spends to get Annual Fee Reversal in Simply Save Card is half of the amount which CM need to spend in Axis Bank Ace Card


0.25% valueback on all retail spends 2% cashback on all retail spends RP on Retail spends are better in Axis Bank ACE card.

Accelerate RP10 RP/ Rs. 100 spent on dining, department, groceries & movie.

Unlimited 5 RP/Rs. 100 cashback on bill payments, DTH, and mobile recharges via Google Pay

4 RP/ Rs. 100 cashback on Swiggy, Zomato & Ola

There are more variety for spending to get accelerated reward point through Simply Save Card.

The Axis Bank ACE card is limited to GooglePay, Zomato, Swiggy and Ola only.




The minimum spent amount for fuel surcharge waiver is better in Axis bank ACE card.

Domestic Lounge Access

There are no lounge access. 4 complimentary domestic lounge access The customer gets domestic lounge access in Axis bank ACE card.

Reward Redemption 4 RP = 1 Re. 2 RP = 1 Re. The value of reward point is better in Axis Bank ACE Card.

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SIMPLY CLICK V/S ICICI AMAZONPAY

Features SBI Click Card Amazon Pay ICICI Credit Card Interpretation (Pros/Cons)

Annual Charges Rs. 499 NIL There is no joining fee in the ICICI Back Credit Card

Rate of Interest 3.5% p.m./ 42% p.a. 3.45% to 3.8% p.m. ROI is lower in SBI Simply Click Card


Amazon Gift Card worth Rs. 500 on paying joining fee.

No welcome gift Welcome gift is not available in ICICI Bank Card.

Annual Fee WaiverSpend Rs. 1,00,000 in previous year and

get annual fee reversed for the next year.No annual fee waiver. There is no spend based reversal in ICICI Bank Card.


0.25% valueback spent on all retail purchases

1% valueback on all other retail spends The value of normal reward point is higher in ICICI Amazon Pay Card

Accelerate RP

2.5% valueback on online spends with Amazon / BookMyShow / Cleartrip / Lenskart / Netmeds /Dineout/ Apollo

24x71.25% valueback on other online spends.

5% Cash Back for Prime Members/ 3% Cashback for Non-Prime Members on

Amazon India2% Cashback on payment through amazon

pay.

In SBI Simply Click Card CM will get 2.5% Value Back on 7 Exclusive Partners, whereas in ICICI Amazon Pay Card, CM will get Cashback only on Amazon

Transaction.

Reward Redemption 4 RP = 1 Re. 1 RP = 1 Re. The value of reward point is better in ICICI Amazon Pay Card

Interest free period The interest free period is 20 to 50 days The interest free period is 18 to 48 days The interest free period comparatively higher in SBI Card.

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SIMPLY CLICK V/S AXIS BANK FLIPKART

Features SBI Click Card Flipkart Axis Bank Credit Card Interpretation (Pros/Cons)


Rate of Interest 3.5% p.m./ 42% p.a. 3.4% p.m./ 49.36% p.a. ROI is same in both Card


Amazon Gift Card worth Rs. 500on paying joining fee.

1. Rs. 500 worth Flipkart voucher on your first transaction with your Flipkart Axis Bank credit card.

2. 15% cashback up to Rs. 500 on your first transaction on Myntra using Flipkart Axis Bank credit card.

In simply click, the E-voucher can be easily redeemed.However, in Axis Flipkart Card CM will get Rs. 500 Voucher & 15% Cashback

up to Rs. 500 only when he made first transaction within first 30 Days.

Annual Fee WaiverSpend Rs. 1,00,000 in previous

year and get annual fee reversed for the next year.

Spend Rs. 2,00,000 in previous year and get annual fee waived off for the next year.

The spend based reversal is double for Axis Bank Card as compared to Simply Click Card.


1 RP/Rs.100 spent on all retail purchases

1.5% cashback on all retail purchases The value of reward point is higher in Axis Bank Card.

Accelerate RP

2.5% valueback on online spends with Amazon / BookMyShow / Cleartrip / Lenskart / Netmeds

/Dineout/ Apollo 24x71.25% valueback on other online

spends.

5% cashback on flipkart and myntra purchases4% cashback on some merchants

There are more variety for spending to get accelerated reward point through Simply Click Card. The valueback for Axis Bank Card is less than SBI Card

Simply Click Card.




Fuel Benefit is Same in both Card

Domestic Lounge Access

There are no lounge access. 4 complimentary domestic lounge access The customer gets domestic lounge access in Axis bank card.

Reward Redemption 4 RP = 1 Re. 2 RP = 1 Re. The value of reward point is higher in Axis Bank Card.9

SBI PRIME V/S HDFC DINER CLUB

Features Prime Card Diners Club Privilege HDFC Credit Card Interpretation (Pros/Cons)

Annual Charges Rs. 2,999 Rs. 2500 The annual fee is Rs. 500 less than SBI Prime Card


e- Gift Voucher worth Rs. 3,000 from any of the following brands –Yatra.com, Hush Puppies/Bata,

Pantaloons, Aditya Birla Fashion or Shoppers Stop as a 1 time joining gift.

Annual memberships of Amazon Prime, Zomato Pro, MMT BLACK, BB Star and Times Prime by

spending 75,000 within the first 90 days of Card Issuance

The customer gets e-gift voucher of Rs. 3000 as a Joining gift in Prime card without Any Condition. however, the customer must spend Rs. 75,000 in 90 days, to get the joining benefit in HDFC

Card.

Annual Fee Waiver Spend Rs. 3 Lac and get annual fee of next year. Spend Rs. 3 Lac and get annual fee of next year.Annual Fee Waiver is same in both

cards


2 RP/ Rs. 100 on all retail spends 4RP/Rs. 150 on all retail spendsThe minimum value required for value back is Rs. 100 in SBI Card

but Rs. 150 in HDFC Card.

Accelerate RP

20 RP/ Rs. 100 on utility bill payment and birthday spend (birthday, one day before and one day after).

10 RP/ Rs. 100 on every purchase at Dining, Departmental Stores, Movies and Grocery Stores.

10X Reward Points on Partner Brands (Myntra, Swiggy, Ola, Firstcry, Bookmyshow, Zoomcar,

Nature’s Basket

In SBI Prime Card, CM will get maximum Benefit in form of Reward point on different outlets & online Partners

Reward Redemption

4 RP = 1 Re. 1 RP - .50 Paisa Value of reward points is better in SBI Card Simple Save as

compared to HDFC Card.

Annual Milestone benefit

E-Gift Voucher worth Rs. 7,000 from Yatra.com/Pantaloons on achieving annual spends of

Rs. 5 Lakhs

Complimentary annual memberships of Amazon Prime, Zomato Pro, MMT BLACK, BB Star and

Times Prime can also be availed upon achieving annual spend milestone of ₹ 5 Lakhs at the time of

card anniversary.

Customer gets e-gift voucher of Rs. 7,000 which he can use to get any product of yatra pantaloon. Whereas, in HDFC Bank gives only

membership which customer can not choose from.

Milestone benefitPizza Hut e-Voucher of Rs. 1,000 on spends of Rs.

50,000 in a calendar quarter.

1 monthly vouchers from Ola Select membership or cult.fit Live membership or BookMyShow or TataCLiQ worth ₹ 500 each, every month on

spends of ₹ 40,000.

The customer must spend Rs. 50,000 in 90 days to get the gift voucher in SBI Card. In HDFC Card, the customer must spend Rs.

40,000 each month to get milestone benefit.

Lounge Access4 & 8 complimentary international & domestic

Airport Lounge visits per year respectively

12 Complimentary Airport lounge access to 1000+ Lounges in India and worldwide for primary and

add-on card members in a calendar year.The customer gets more lounge access through HDFC Bank Card.

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SBI BPCL V/S AXIS BANK INDIAN OIL

Features BPCL Card Axis Bank Indian Oil Interpretation (Pros/Cons)


Rate of Interest 3.5 % p.m. 3.4% p.m./ 49.36% p.a. ROI is same in both Card


Customer gets 2000 RP worth Rs. 500 on payment of joining fee.

100% cashback on all fuel transaction upto Rs. 250 within 30 days of card issuance

In BPCL Card, customer will get RP as a Joining gift, whereas in Axis Bank Card, customer must spend on fuel transaction within 30 days of Card

Issuance to get the joining benefit.

Annual Fee WaiverSpend Rs. 50,000 in previous year and

get annual fee reversed for the next year.Spend Rs. 50,000 in previous year and get annual fee

reversed for the next year.The spend based reversal is same for both cards.


1 RP/Rs. 100 on all retail spends 1 RP/Rs. 100 on all retail spends Normal Reward Points are same in both the cards

Accelerate RP13 RP/Rs. 100 on Fuel Purchases at BPCL

petrol pumps20 RP/Rs. 100 on Fuel Purchases at IOC petrol pumps

for transaction between Rs. 100 to Rs. 5,000.

The value back for Axis bank is higher. But, in SBI Card, the customer does not have any minimum transaction value to get the value back as

compared to Rs. 100 to Rs. 5000 in Axis Bank.

Reward Redemption

4RP = 1 Re. 5 RP = 1 Re. The value of reward point is higher in BPCL Card

Movie discount No discount on moviesCustomer gets 10% discount on booking movie tickets

through bookmyshow.There are no movie discount in BPCL SBI Card.

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SBI BPCL V/S ICICI BANK HPCL CORAL

Features BPCL Card ICICI Bank HPCL Coral Card Interpretation (Pros/Cons)

Annual Charges Rs. 499 No joining fee, Annual Fee: Rs. 199 The annual fee of ICICI Bank card is less than SBI BPCL Card.

Rate of Interest 3.5 % p.m. 3.4% p.m. The rate of interest is almost same.


Customer gets 2000 RP worth Rs. 500 on payment of joining fee.

No joining benefitFor SBI Card, the customer gets joining gift on payment of joining fee.

However, there is no joining gift in ICICI Bank Card.

Annual Fee WaiverSpend Rs. 50,000 in previous year and

get annual fee reversed for the next year.Spend Rs. 50,000 in previous year and get annual fee

reversed for the next year.The spend based reversal is same for both cards.


1 RP/Rs. 100 on all retail spends 2 RP/Rs. 100 on all retail spends RPs are higher in ICICI HPCL Coral Card

Accelerate RP13 RP/Rs. 100 on Fuel Purchases at BPCL

petrol pumpsNo Min. amount on Fuel Transaction

2.5% cashback on fuel purchases at HPCL fuel pumps will be applicable on minimum transaction value of

₹500.The value back given by SBI Bank is higher than ICICI Bank.

Reward Redemption

4RP = 1 Re. 4RP = 1 Re. The value of reward points is same.

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BANK STATEMENTSURROGATE(IQBS)

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FOS NoteApplication can be sourced basis the Bank Statement fetch through Perfios -Send link(Both Scan & upload and online fetch is acceptable)

Mandatory checks for Bank statement surrogate

Bank Statement Vintage

Last 6-month Bank Statement For Example: In the month of Oct, we need 1st April to 30th Sept 2021 bank statement

Eligible CustomerSalaried / Self employed

We can’t source Pensioner/Retired customers

KYC ModeKYC mode must be EKYC or VKYC

KYC captured Digitally/ Physically can’t be opted for this Surrogate

Checked in Bank statement for

salaried customer

Last Two months’ Salary Credit reflecting in the bank statement (sales 24 view) as per below mentioned income slab

Checked in Bank statement for salaried/ Self-

employed Customer

Average quarterly Balance: Minimum Rs. 30,000 Monthly Credit of Min: Rs. 20,000 in last 2 months (Each month 20K) Closing Balance Required: Min. Rs. 20,000

Note

1. Soft referred cases can be sourced 2. Original PDF Bank statement is required in case of scan and upload & Net banking user ID and password in required in case of Bank upload 3. In case salary credit is not reflecting in sales 24 or criteria not meeting only then opt of the 2nd option of AQB, Monthly credit & Closing balance

Steps to guide Customer

Customer will get link over SMS or Mail < Click on the link < Click on Generate OTP - Customer will get the OTP in the Mail/SMS- Submit the OTP < Click on Login < Click on either Upload Document from Bank or Scan & Upload < Click on Choose a bank and select the bank name < under document type select 6 months bank statement and provide the credential as per the mode selected.

Category Age _BracketTier 1&2 Tier 3&4

Match No Match Match No Match

CAT B 21 - 60 20K 25K 20K 25K

CAT A

21-25 20K 40K 20K 35K

26-40 25K 30K 25K 25K

>40 40K 40K 35K 35K

POLICY UPDATES

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AGE POLICY:

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The age policy has been updated. Please refer below for the update in age policy:

Type Min Age (Yrs) Max Age (Yrs)

Salaried 21 60

Self Employed 25 70

Pensioner 40 70

Type Min Age (Yrs) Max Age (Yrs)

Salaried 21 60

Self Employed 25 65

Pensioner 40 65

OLD NEW

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Spelling mistake in the domain name such as YAHO or GMIAL

Observations:1. Same e-mail IDs being used multiple times for different applicants2. E-mail IDs with invalid/incomplete domain names being used3. Spelling mistakes in the domain name such as YAHO or GMIAL.

4. Overwriting or @ sign missing in the mail ID

Samples of writing correct mail ID

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Application Form Dos and Don’ts:Information Regarding Customer Income

We must remember the following points before processing the application:

1. Always confirm the company name of the customer in case of Salaried/ Self Employed.2. Always cross check the correct company category of the customer.3. Always refer the surrogate documents (salary slip, joining letter) to confirm the company of the

customer.4. Do not select wrong company category for the customer while processing the application.5. During back check call always process the information as confirmed by the customer only.

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THANK YOU

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MGURUKUL TRAINING WAVE