HDFC Bank is an Indian banking and financial services company headquartered in Mumbai. Incorporated in 1994, this Bank has about 76,286 employees including 12,680 women. It boasts of a presence in Bahrain, Hong Kong and Dubai. The second largest private bank in India as measured by assets, it also holds the claim for being the largest bank in India by market capitalization as of February 2016. This Bank was amongst the first to receive an ‘in principle’ approval from the Reserve Bank of India (RBI), as part of RBI’s liberalization of the Indian Banking Industry in 1994.
About HDFC Bank
HDFC Bank services commenced operations as a Scheduled Commercial Bank in January 1995, and has enjoyed an impeccable track record in India as well as in international markets ever since. Since its inception, the Corporation has retained a consistent and healthy growth in its functioning to hold its position as the market leader in mortgages. Its outstanding loan portfolio encompasses over a million dwelling units. HDFC Bank financial services has developed a significant level of expertise in retail mortgage loans to different market segments and also hosts a widespread client base for its housing related credit facilities. Equipped with a rich experience in the financial markets, a strong market reputation, large shareholder base, and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
Vision and Mission
The mission of the Bank is to be a World Class Indian Bank. Its objective is to build sound customer franchises across distinct businesses, and in the process, emerge as the preferred provider of banking services for target retail and wholesale customer segments, and to accomplish sustainable growth in profitability, consistent with the bank’s risk appetite. HDFC Bank banking services is committed to adhering to the highest ethical standards, professional integrity, corporate governance, and regulatory compliance. The business philosophy of the Bank is based on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.
HDFC Bank Loans
HDFC Bank Home Loan: The range of Housing Finance products offered by HDFC Bank includes, Home Loans, Home Improvement/Renovation Loans, and Home Extension Loans. It has been the pioneer in the home loan industry with over 3 decades of lending experience. The customers can expect the most experienced and empowered personnel to ensure smooth and easy processing. HDFC Bank loan advantage also promises transparent dealing, flexible loan repayment options, loan approval even before the selection of property, counseling and advisory services, etc. applications can be made individually or jointly. The loan can be availed for purchase of fresh/resale housing property or for the construction of houses. The Home Improvement Loan facilitates internal and external repairs and other structural improvements like Painting, Waterproofing and Roofing, Plumbing and Electrical Works, Tiling and Flooring, Grills, Aluminum Windows, Compound Walls and much more. The Home Extension Loan has been exclusively tailored with the purpose of adding more space to your dream home, to meet the requirements of a growing family. Be it an extra bedroom, a reading room, or a coffee corner, the borrower can extend his/her home the way they like. HDFC Bank loan scheme also ensures the benefit of automated repayment of Home Loan EMI directly from one’s HDFC Bank Savings Account, which saves the borrower the trouble of procuring, signing and tracking post-dated cheques.
HDFC Bank Personal Loan: With smart products, competitive offerings, and simplified documentation, personal loans from HDFC Bank will guarantee a smooth ride to fulfilling one’s financial needs. One can enjoy benefits such as, express loan processing, quick disbursal and doorstep service. Regular salaried individuals including salaried doctors, CAs, employees of private limited companies, employees from public sector undertakings (including central, state and local bodies) can avail this loan. The age limit specified by the Bank is 21 to 60 years. The applicant should have had a job for at least 2 years, and a minimum of 1 year with the current employer. The minimum net income per month should be Rs. 12,000 in order to satisfy the HDFC Bank personal loan eligibility criteria. The Personal Loan Diva is a special loan proposition offered by HDFC Bank for women employees. There are more than 100 Diva offers across premium brands and products.
HDFC Bank Loan Against Property: This loan can get a borrower a higher loan amount for one’s business or personal needs with the benefit of lower EMI. Be it generating funds for one’s business without reducing capital, planning a wedding, or foreign education, this loan scheme accepts both residential and commercial property. A borrower can choose from an EMI based loan or an Overdraft facility. The borrower can enjoy lower HDFC Bank loan against property EMIs as compared to other funding options, coupled with other benefits like, longer repayment tenure and competitive interest rates. The Bank also offers customized loan options for self-employed individuals. There are no hidden charges, and clear communication is ensured on the loan process. The borrower is updated about the status of loan application at every stage.
HDFC Bank Business Loan: One of the exclusive features of business loan from HDFC Bank finance is in-principle loan eligibility in 1 minute online and across all branches. The borrower can also enjoy the convenience of contacting the Bank through SMS, Webchat, Click2Talk, Phone Banking, etc. The flexible repayment options range from 12 to 36 months. The loan amount can go up to Rs. 15 lakhs (with the upper ceiling being Rs. 50 lakhs in select locations). Any self-employed individual including individual Proprietors, Private Ltd. Co. and Partnership Firms involved in the Business of Manufacturing, Trading, or Services can avail this loan. The applicant should have a minimum turnover of Rs. 40 lakhs. He/she should have been in the current business for minimum 3 years and a total of 5 years experience in business. The business must be profit making for the last 2 years. The minimum annual income of the borrower should be Rs.1.5 lakhs p.a. the age of the applicant should at least be 21years, and not more than 65 years at the time of loan maturity. According to HDFC Bank loan details, business loan is also available on the basis of repayment of home loans, auto loans and credit cards.