Cross Selling
When an existing customer is offered and sold ancillary / additional services it is cross selling. Cross selling is taken as a transaction based activity but more as a relationship building exercise by the banks.
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Serving an existing customer is a low cost affair than serving a new customer.
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Better leverageThe use of borrowed money to finance an investment. of of the available resources and existing clientele base.
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Improvement of the Brand value.
Retail BankingThe main characteristic of retail banking , very much similar to retail trade, is that banks directly execute transactions with consumers rather than other banks ..... has in recent years emerged as a rapidly growing opportunity for bankers all over the country. The Banks are lured by the low cost retail deposits which are more stable in comparison to the corporate deposits.
Apart from that, the retail loan products such as home loans, commercial vehicle loans, two wheeler loans, personal loans, credit cards, loan against time deposits and shares are becoming popular. The smaller value personal loans provide banks a wider marginAn advance payment of a portion of the value of a stock transaction. The amount of credit a broker or lender extends to a customer ..... spread.
The Credit Card BusinessCredit card allows its holder to buy goods and services based on the holder's promise to pay for these goods and services. Its usage started ..... has now-a-days become an important component of lending to the retail segment.
