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HDFC Bank Limited
HDFC Bank Limited

With its headquarters in the city of Mumbai in Maharashtra, Housing and Development Finance Corporation or HDFC Bank Limited, is one of India’s most well-known brand entities among Indian banks. This major bank has 4963 branches in 2727 cities and has the distinction of being placed in 69th position in the BrandZ Top 100 Most Valuable Global Brands list in the year 2016. As of 2016, HDFC Bank is India’s largest bank taking into account this bank’s market capitalization.

History:

While HDFC is India’s largest bank, it is definitely not among the oldest. HDFC opened its doors in 1994 when it was incorporated and registered in Mumbai. The bank was inaugurated by Former Prime Minister Manmohan Singh and its first full-service branch/headquarters was based out of Worli, Mumbai. Since then, HDFC Bank has been on a steady growth trajectory.

Current Status:

As mentioned, prior, today HDFC stands tall as India’s largest bank. This financial corporation now has a viable presence in Dubai, Hong Kong and Bahrain. In India, this bank has 4805 branches all over the country, 12,260 ATMs and has only recently installed 4.30 lakhs Point of Service systems in all major cities in the country. As of October 2018, HDFC Bank has issued 237.5 Lakhs debit cards and 85.4 lakhs credit cards. It's interesting to see the amazing growth trajectory of HDFC Bank. The Bombay Stock Exchange and National Stock Exchange of India lists HDFC Bank’s equity shares. The NYSE lists HDFC Bank’s American Depository Shares and two GDRs account for one equity share of this bank on the Luxemburg Stock Exchange.

Mergers and Acquisitions

  • February 2000 – Merger with Times Bank
  • Acquired Centurion Bank in 2008

HDFC Bank – Products and Services:

In a bid to serve customers and clients to best of its ability; HDFC has an extensive products and services portfolio. These products and services are intended to meet the financial needs of HDFC Bank’s patrons. Some of the primary products and services offered by HDFC Bank are as listed below.

  • Business Loans
  • Home Loans
  • Personal Loans
  • Two-Wheeler Loans
  • Car Loans
  • Retail Banking
  • Wholesale Banking
  • Consumer Durable Loans
  • Treasury
  • Credit Cards
  • Debit Cards
  • Internet Banking
  • Payzapp
  • Smart Buy

The Country’s Largest Private Sector Lender

In terms of assets, HDFC Bank has the distinction of being the largest Indian private sector lender. This financial corporation specializes in a bouquet of loan products including but not limited to business loans, personal loans, education loans and housing loans. Being India’s numero uno private sector lender puts HDFC Bank in position to serve customers with attractive loans products. The major lending schemes of HDFC banks are listed below with corresponding information on each scheme. Scroll down to know more.

Education Loans

HDFC Bank offers higher education aspirants an attractive education loan scheme with viable interest rates and high lending amounts. The infographic below illustrates the primary features of HDFC’s student loans for higher education in domestic and international institutes of learning.

Eligibility Criteria

Lending Amount

Interest Rates

Repayment Tenure

Processing Charges

Higher Education Aspirants who have Secured Admission

Up to 10 Lakhs for Graduate and Post Graduate Studies in the Country – No Cap for Indian Students applying to Colleges and Universities Abroad 

Up to 14.1%

 Max – 15 Years

Up to 1.5% of Loan Amount

Personal Loans

Both salaried and self-employed individuals have the option of availing of HDFC Banks personal loan schemes. These loans cover a wide range of financial needs including but not limited to family events such as weddings, debt consolidation, medical emergencies, home renovations and family vacations among others. These loans are easily available and are generally sanctioned in a matter of days. For further information on personal loans from HDFC Bank; consult the infographic below.

Loan Amount

Interest Rate

Repayment Tenure

Processing Charges

Up to Rs. 40 Lakhs

11.25% to 21.50%

12 Months to 5 Years

Max – 2.5%

Business Loans

Entrepreneurs, small and large firms and established businesses often avail of HDFC’s business loans schemes. Being India’s largest private sector lender, HDFC is proactively involved in lending funds and working capital to a wide range of businesses. This bank emphasizes in the easy availability of business loans for eligible businesses with loan features such as speedy eligibility checks and loan dispersal, loan transfers, low processing fees and low interest rates on maximized loan amounts. The key features of business loans from HDFC Bank are as indicated in the infographic below.

Amount

Rate of Interest

Repayment Tenure

Minimum EMI Per Lakh

Part Prepayment Fees

Foreclosure Fees

50,000 to 50 Lakhs

Starting at 15.65%

12 Months to 4 Years

2816

Not Permissible

Permitted Post Payment of 12 EMIs – 2 to 4%

*It must be noted that interest rates for business loans from HDFC vary on the basis of business type, loan amount, credit score, repayment tenure and other factors.

*Additionally, HDFC Bank has strict criteria for eligibility that takes into consider the profit and loss statements, business account statements, business plan, years of operation and credit score of the borrower.

Housing Loans

Many prospective homeowners in the country often turn to HDFC Bank for home loans. As a prime lender, HDFC specializes in attractive home loan schemes that facilitate financing for new homes. It must be noted that HDFC home loans can also be used for home renovation, extension and improvements. The primary security for the loan is the home itself. The infographic below is a great reference for basic information related to HDFC home loans.

Interest Rate

Loan Amount

Processing Charges

Repayment Tenure

Charges for Prepayment/Foreclosure

Starting at 8.90%

Subject to Borrower Profile and Other Factors

0.5% of Loan Amount

Max – 30 Years

Nil

Standard Documentation for HDFC Loans

Like all banks, HDFC proactively does a background check on borrowers and loan applicants. This background check is necessary to ensure the viability of the loan applicant and to ensure loan repayment. While documents required for varying loans may differ slightly; there are standard document requirements that apply to all HDFC loans. These documents are as listed below.

  • Bank Statements of Borrower
  • Identity Proof of Borrower – Voters ID or Any Government Issued ID Proof
  • Aadhaar Card
  • PAN Card
  • Address Proof

*Additional documents may be required, subject to the nature of the loan applied for.

In conclusion, HDFC Bank is a viable financial corporation and an exemplary lender on the Indian banking scene. This bank continues to inject money into India’s economy with business loans, drives the real estate market with home loans and has a substantial positive impact on Indians with the easy availability of personal loans, education loans, auto loans and other banking services and products. High credibility among Customers and proven track record has helped HDFC to gain the viable spot they are in right now.

Phone Number 18002583838, 011-6106161
Fax HDFC Bank Limited
Email [email protected]
Web Site https://www.hdfcbank.com/
Head Office HDFC Bank Limited
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Loan Type Interest Rate Minimum Age (in yrs.) Minimum Income (in Rs.)
Home Loan Information not available 21-60 years Regular Source of Income should be there
Business Loan Starting at 15.65% Not applicable Not applicable
Personal Loan 11.25% to 21.50% 21-60 Years Minimum Net Monthly Income: At least Rs. 12,000/- per month net income (Rs. 15,000/- in Mumbai, Delhi, Bangalore, Chennai and Hyderabad, Rs. 12,000 in Calcutta, Ahmedabad and Cochin)
Car Loan Information not available 21-65 Years Minimum Rs. 100000 p.a including the income of spouse
Loan Against Property Information Not Available Age criteria not provided Income criteria not provided
Education Loan Information not available 16 - 35 yrs Income Criteria Not Available
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

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