HDFC Bank was incorporated in Aug. 1994 and promoted by Housing Development Finance Corporation Limited (HDFC) India's premier housing finance company which also enjoys an impeccable track record in India as well as in international markets. HDFC was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalization of the Indian Banking Industry.HDFC Bank concentrates in four areas - corporate banking, treasury management, custodial services and retail banking. It has entered the banking consortia of over 50 corporates for providing working capital finance, trade services, corporate finance and merchant banking. It is also providing sophisticated product structures, sound advice and fine pricing mainly in areas of foreign exchange and derivatives, money markets and debt trading and equity research through its state-of-the-art dealing room. With its sophisticated and customer friendly facilities & services including multi-branch access, ATMs & cluster deposits and is well positioned to establish a significant niche for itself in retail banking.
In Feb. 2000, Times Bank has been amalgamated with the bank. This is an important milestone in the history of bank as well as Indian banking sector, being the first merger of two private sector banks. This adds significant value to bank in terms of increased branch network, expanded geographic reach, enhanced customer base, skilled manpower, etc. Recently HDFC BK & Life Insurance Corporation (LIC) forms alliance for online facility for payment of insurance premium. With this facility, LIC policy holders can now pay their insurance premiums through HDFC Bank's on-line payment facility. HDFC BK has become the first private sector bank to be authorized by the Central Board of Direct Taxes (CBDT) as well as the RBI to accept direct taxes, commencing April 01 2001. The taxes will be accepted at specified branches of the bank. Also it has announced a strategic tie-up with a Bangalore-based business solutions software developer Tally Solutions Pvt (TSPL) for developing and offering products and services facilitating on-line accounting and banking services to SMEs (Small and Medium Enterprises).In 2001-02 the bank was listed on the New York Stock Exchange in the form of ADS. Each ADS represents 3 equity shares. Consequent to the issue, the paid up capital of the Bank has increased by Rs.37.42 crores.
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an in principle
The bank was incorporated in August 1994 in the name of HDFC Bank Limited. HDFC was ideally positioned to promote a bank in the Indian environment. With its experience in the financial markets. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. a strong market reputation. India.approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. Promoter HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Its outstanding loan portfolio covers over a million dwelling units. as part of the RBI's liberalization of the Indian Banking Industry.
. large shareholder base and unique consumer franchise. with its registered office in Mumbai. Since its inception in 1977. The bank commenced operations as a Scheduled Commercial Bank in January 1995. the Corporation has maintained a consistent and healthy growth in its operations to remain the clear market leader in mortgages and banking services in India.
3% of the equity is held by the depository in respect of the bank's issue of American Depository Shares (ADS/ADR Issue). Mauritius (IFHL) (both funds advised by J P Morgan Partners.Business Focus HDFC Bank's mission is to be a World Class Indian Bank. formerly Chase Capital Partners) together hold about 11.2 crores. compliance. Customer Product Leadership and People. Roughly 18% of the
.5% of the bank's equity while about 13. consistent with the bank's risk appetite. The bank aims to ensure the highest integrity level and of ethical standards. The Indian Private Equity Fund.. Capital Structure The authorized capital of HDFC Bank is Rs. Mauritius (IPEF) and Indocean Financial Holdings Ltd. professional values: regulatory
HDFC Bank's business philosophy is based on four core Operational Excellence. The HDFC Group holds 24.6% of the bank's equity. The Bank signed a strategic business collaboration agreement with Chase Manhattan Bank in February 1999. Focus. The paid-up capital is Rs.450 crores.281. The Bank's aim is to build a sound customer franchise across distinct businesses so as to be the preferred provider of banking services in the niche segments that the bank operates in and to achieve healthy growth in profitability.
Times Bank Limited (another new private sector bank promoted by Bennett. Customers in 39 locations are also serviced through Telephone Banking. The shares are listed on the Stock Exchange. expanded geographic reach. Distribution Network HDFC Bank is headquartered in Mumbai. Coleman & Co. 2000. skilled manpower and the opportunity to cross-sell and leverage alternative delivery channels.. The Bank's expansion plans
. Times Bank Amalgamation In a milestone transaction in the Indian banking industry. All branches are linked on an online real-time basis. The amalgamation added significant value to HDFC Bank in terms of increased branch network. effective February 26. The bank's American Depository Shares are listed on the New York Stock Exchange under the symbol "HDB". /Times Group) was merged with HDFC Bank Ltd. enhanced customer base. The Bank at present has an enviable network of over branches spread over cities all across the country. Mumbai and the National Stock Exchange. NRIs/OCBs while the balance is widely held by about 300.000 shareholders.75 shares of Times Bank.equity is held by FIIs. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India. shareholders of Times Bank received 1 share of HDFC Bank for every 5.
has been a professional banker for over 20 years and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia. Management Mr. HDFC Bank's ATM network can be accessed by Visa all domestic and international and Visa/MasterCard. Mr. Jagdish Kapoor took over as the bank's Chairman in July 2001. the Bank has branches in the centre where the NSE/BSE have a strong and active member base. It is the only bank in India which provides access to all the 3 major International Card Networks on its ATM network. The Managing Director. Plus/Cirrus
American Express Credit/Charge cardholders. Prior to this. Being a clearing/settlement bank to various leading stock exchanges.Kapoor was a Deputy Governor of the Reserve Bank of India. The Bank also has a network of almost over networked ATMs across these cities.take into account the need to have a presence in all major industrial and commercial centre where its corporate customers are located as well as the need to build a strong retail customer base. Aditya Puri. Electron/Maestro.
. Moreover. Mr.
The Bank has made substantial efforts and investments in acquiring the best technology available internationally. the bank believes that its people are a significant competitive strength. Senior executives representing HDFC and J P Morgan Partners (formerly Chase Capital Partners) are also on the Board. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). Senior banking professionals with substantial experience in India and abroad head various businesses and functions and report to the Managing Director. to build the infrastructure for a world class bank. Technology HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. Given the professional expertise of the management team and the overall focus on recruiting and retaining the best talent in the industry. The entire bank's branches have connectivity which enables the bank to offer speedy funds transfer facilities to its customers. In terms of software the Corporate Banking business is supported by
.The Bank's Board of Directors is composed of eminent individuals with a wealth of experience in public policy & administration and commercial banking.
expertise and technology to create a competitive advantage and build market share. The Bank has prioritized its engagement in technology and the internet as one of its key goals and has already made significant progress in web-enabling its core businesses.
. scaleable and web-enabled. both from I-flex Solutions Ltd. the Bank has succeeded in leveraging its market position.). The systems are open. In each of its businesses. while the Retail Banking business by Finware. (formerly Citicorp Information Technology India Ltd.Flexcube.
. transactional services. companies from the domestic business and houses and prime banking funds. It is recognized as a leading provider of cash management corporate transactional mutual solutions customers. including working capital finance. blue-chip manufacturing companies in the Indian corporate sector and to a small extent. For these corporates. the Bank has made significant inroads into the banking consortia of a number of leading Indian corporate including multinationals. etc. emerging mid-sized corporates. cash management. trade services. stock exchange
members and banks. the Bank provides a wide range of banking services.BUSINESS PROFILE
HDFC Bank caters to a wide range of banking services covering both commercial and investment banking on the wholesale side and transactional / branch banking on the retail side. The bank has three key business areas:a) Wholesale Banking Services The Bank's target market is primarily large. Based on its superior product delivery / service levels and strong customer orientation. Public Sector to companies.
Auto Loans. The products are backed by world class service and delivered to the customers through various delivery channels including the branch network. giving the customer a one-stop window for all his banking requirements. information and advice on various investment avenues. Personal Loans and Loans for Consumer Durables and Two-wheelers. as well as alternative delivery channels like ATMs. Net Banking and Mobile Banking. Phone Banking. It is also a leading provider of Depository Participant (DP) services for retail customers. The HDFC Bank Preferred program for high net worth individuals. The debit card allows the user to directly debit his
.b) Retail Banking Services The objective of the Retail Bank is to provide a full range of financial products and banking services. the HDFC Bank Plus and the Investment Advisory Services programs have been designed keeping in mind needs of customers who seek distinct financial solutions. The Bank also has a wide array of retail loan products including Loans against shares. HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (VISA Electron) and issues the MasterCard Maestro debit card as well.
the bank has three main product areas .account
establishment.Foreign Exchange and Derivatives. Loans. in India and overseas. etc.
Within this business. corporate need more sophisticated risk management information. and Equities. Rating HDFC Bank's programme for Certificates of Deposits has been rated by the Indian rating agency Credit Analysis & Research Ltd. advice and product structures. Bill Payments. The CDs are rated PR 1+ is the highest rating for short term instruments indicating superior capacity for repayment. The Bank launched its credit card in association with VISA in November 2001. These and fine pricing on various treasury products are provided through the bank's Treasury team. With the liberalization of the financial markets in India.
. Local Currency Money Market & Debt Securities. The Bank is well positioned as a leader in various net based B2C opportunities including a wide range of internet banking services for Fixed Deposits. (CARE).
Closer home. Forbes Global selected HDFC Bank amongst the top 20 in the Forbes listing of the world's best small companies.Corporate Excellence for Emerging Company of the Year 2000-01 and as Business India's Best Bank for the year 2000. In the October 2000 issue. "Best Bank India 2001" by Euro money. leading financial magazine Forbes Global named us in its list of "The 300 Best Small Companies" in the
. HDFC Bank was selected for The Economic Times Award . and "Best Domestic
Commercial Bank .India 2001" by Finance Asia. "Best Domestic
Commercial Bank .
In the year 2000.India 2000".India 1999" and "Best Domestic Bank .India 1999" and "Best Domestic Commercial Bank India 2000".AWARDS AND ACCOLADES
HDFC Bank was selected as the "Best Bank .
2000 and 2001 respectively and "Best Local Bank in India " in 2002. "Best Domestic Bank" in India in 2000.
Leading Indian business magazine Business India named us "India's Best Bank " in 2000. The Economic Times has conferred on us The Economic Times Awards for Corporate Excellence as the Emerging Company of the Year 2000-01.
.world and as one of the "20 for 2001" best small companies in the world. and "Best Bank in India" in 2001 and 2002.
There have been some other proud moments as well: London-based Euromoney magazine gave us the award for "Best Bank India" in 1999.
Asiamoney magazine has named us "Best Commercial Bank in India 2002".
Hong Kong-based Finance Asia magazine rated us "Best Domestic Commercial Bank in India" in 1999.
Another leading Indian business magazine Business Today in a survey rated us "Best Private Sector Bank " in India in 1999.
We are aware that all these awards are mere milestones in the continuing. however.
For our use of information technology we have been recognized as a "Computer world Honors Laureate” and awarded the 21st Century Achievement Award in 2002 for Finance. USA.
.com have named us the ‘Best IT User in Banking’ at the IT Users Awards 2003. we will be able to maintain and improve our services. never-ending journey of providing excellent service to our customers. that with your feedback and support. Insurance & Real Estate category by
Computerworld. Our technology initiative has been included as a case study in their online global archives.
NASSCOM and Economic Times. We are confident.. Inc.
Sweep-In Account: A fixed deposit linked to your Savings Account. you can issue a cheque (or use your ATM Card). enhanced ATM withdrawal limit. Current and Demat Accounts Savings Account: Apart from the usual facilities. even if your Savings Account runs a bit short. So. Bill Pay. to name a few. The money is automatically swept in from your fixed deposit into your Savings Account. Interbranch banking. among others. free Demat Account and lower interest rates on loans. You also get privileges like fee waivers. Fixed Deposits.Product Range Savings. priority locker allotment. Debit Card and Mobile Banking.
HDFC Bank Preferred: A preferential Savings Account where you are assigned a dedicated Relationship Manager. you get a free ATM Card. who is your one-point contact.
. Phone Banking.
50 lakh per month at no extra charge. etc.
Demat Account: Conduct hassle-free transactions on your shares. 25.000/-. at-par cheques. you can access your funds while your Fixed Deposit continues to earn high interest. You can transfer up to Rs. outstation cheque clearance facility. You can also avail of cheque clearing between the four metros. In an emergency. You can also access your Demat Account on the Internet.
HDFC Bank Plus: Apart from Regular and Premium Current accounts we also have HDFC Bank Plus. a Current Account and then some more. get cash delivery/pickup up to Rs. between the four metros. home delivery of Demand Drafts.Super Saver Account: Gives you an overdraft facility up to 75% of your Fixed Deposit.
at your own convenience.. You can also view your Demat Account through Net Banking.
Net Banking: Access your bank account from anywhere in the world.
. you can also pay your utility bills and transfer funds. at any of our ATMs across the country all year round.
International Debit Card: An ATM card you can shop with all over the country and in over 140 countries with.
ATM 24-hour banking: Apart from routine transactions. at anytime.. and pay in Rupees. Phone Banking: 24-hour automated banking services with 39 Phone Banking numbers available.Innovative services for your convenience.
Intercity/Interbranch Banking: Access your account from any of our branches in cities. You can spend in any currency.
our loans** come to you in easy-to-pay monthly installments. phone or mobile phone. purchase of a computer or an exciting holiday.
Bill Pay: Pay your telephone. and are available with easy documentation and quick delivery. 3 lakh for a wedding. Internet. electricity and mobile phone bills through our ATMs.
Loans for every need Now. No more standing in long queues or writing cheques. education. Use SMS technology to conduct your banking transactions from your cell phone. new or used! And the loans come to you
Personal Loans: Take a loan of up to Rs.Mobile
mobile phone screen at no airtime cost.
New Car Loans and Used Car Loans: Finance up to 90% of the cost of a car.
10 lakh at an attractive interest rate against physical shares. you can get a Loan against Shares of up to 65% of the market value of your shares. up to 50% of the market value of your shares.
Loans Against Shares: Get an overdraft up to Rs. till Rs. 20 lakh. In case of Demat Shares.
SALARY ACCOUNT SAVING ACCOUNT CURRENT ACCOUNT FIXED DEPOSIT DEMAT ACCOUNT
attractive interest rates.
product code 105 is basically employees of the govt. department & product code 115 is only defense person and product code 120 is any private organization/department . SAFE DEPOSIT ACCOUNT
There are three type of product code in salary account .100 per annum
. If product code 120 account holder wants to a debit card then they have to paid Rs.
deposit their cheques and wait for it to be cleared .
Their employees get privileged services that help them achieve even more
Direct Salary Credits – Their employee need not go to the bank . All at no extra cost to customer. It’s now HDFC BANK turn to provide costumer with the best salary account. costumer receives an array of rewards with their monthly pay. Wit h HDFC Bank’s Salary Account.Their salary is automatically credited to their accounts
. of Employee 10 10
Provide facility Free Debit card Free Debit card
Costumers have always given their best to the nation.Product code 105 115 Only defense 120
Average salary 7500 Up to 5000
• Interbranch/Intercity Banking at 142 branches and over 360 ATMs
No minimum Balance to be maintained in the account to avail of these benefits
Interbranch/Intercity Banking: .
ATM 24-hour Banking: .Over 675 ATMs across 111 cities enable costumer to withdraw up to Rs.Costumer can use any of HDFC BANK branches/ ATMs across 111 cities in India. Also no need to open a new account when costumer gets transferred to another city where HDFC BANK has a branch. no matter where their account is held e.It’s like an ATM Card that costumer can shop with and make payments at 25.000
Free International Debit Card: .g.15. costumer may open their account in Pune and can operate this \account the next time costumer travel to Bangalore or for that matter from any other city. 000 a day.
Free Phone Banking: . Costumer can also withdraw money from over 5. 000/.6 lakh Maestro/visa/Plus/cirrus ATMs.
. backed by the highest level 128-bit security.hour’s facility enables customer to conduct a range of banking transactions with just a call.per instrument payable at any city where HDFC BANK have branches.This 24.
Free net Banking: .outlets in India and 10 million worldwide.Customer can now bank at the click of a mouse.25. in 140 countries.
HDFC BANK also waives the annual fee for one additional card per account for the first year.
Free Demand Drafts: Customers can avail of free demand drafts up to Rs.
while the Fixed Deposit continues to earn high interest rate.Customer can even conduct a range of banking transactions over a mobile phone. So even if funds are short in the savings account. using SMS facility or a WAP activated phone.
Super Saver Account: .Free Mobile Banking: . (1) Special features for the Defense person Sweep-in Account: . The money is automatically swept in from the fixed deposit into the savings account. The balance amount continues to earn high interest rate.
.their employees get personalized cheque book with the name of the account holder printed on the cheque leaves. that entire customer has to do is just issue a Cheque.This facility is a fixed deposit linked to savings account. Free Personalized Cheque Book: . Customer can access their funds either through an ATM or by issuing a cheque.This account gives customer an overdraft facility of unto 75% of the Fixed Deposit in times of emergency.
Free Collection of Outstation Cheques: This account entitles customer to free collection of outstation cheques drawn on all cities where HDFC BANK has branches. customer enjoys a number of privileged value added services such as:
Direct Salary Credits: . Mobil Banking
(2) How else do customer benefit from HDFC Bank’s Salary Account? With HDFC BANK Salary Account.Customer salary is automatically credited to their account. Net Banking.
Bill Pay: No more waiting in queues to pay utility bills – customer can use any of HDFC BANK “e-Age” banking channels like Phone Banking. All customer have to do is inform their payroll department of their HDFC Bank Salary Account number.
and even LIC premiums. by opening a Demat account.
Demat Account: Customer can enjoy paperless trading.and ATMs to pay their electricity.Customer can open a joint account by opening a Demat account Personalized Cheque Book: Customer get a personalized cheque book with the name of the entire account holder (S) printed on the cheque leaves. telephone and mobile phone bills.
Joint Account facility: .
500/.(After customer report the loss to the Bank). Please report of their card immediately to HDFC BANK Phone Banking service. customer must report the loss/theft of their card to the nearest police authorities and forward a copy of the acknowledged report to the Bank. The services and applicable tariffs are listed below: Service offered Charges Lost/Stolen Card Reporting USD 35 per card Emergency Cash USD 175 per disbursement + Disbursement USD only 25 in per disbursement where cases
emergency cash is disbursed Miscellaneous by Visa through a member. Customer USD 5 per call
.Insurance In case customer card is lost/stolen. Additionally. Additional Card Additional cards are available to Joint Account holders at an Annual fee of Rs. the operating instructions on the account should allow for financial transactions to be conducted singly by the Joint Account holders. Annual fee has been waived for the first year on one Additional Card. However. customers are covered for any liability exceeding Rs. 100 per card.
to customer separately. In case customers do not receive it please contact the nearest branch or call Phone Banking.
Their Card is valid in India and abroad.
Master Cards are being issued in select cities only. Customer cannot make foreign currency transactions in Nepal and Bhutan
Their personal Identification Number (PIN) will be mailed
US$ 7. The services and applicable tariffs are listed below: Services Offered Charges Lost/Stolen Card Reporting US$ 35 Emergency Cash US$ 95 Disbursement Miscellaneous Important Please sign on the reverse of the card on the signature panel.Service enquiries
Worldwide Assistance from MasterCard if customer has a Maestro Debit Card In case customers have any queries/problems while traveling abroad. assistance is available from Maestro Global Service from MasterCard International. Please ensure that customer receive this after customer receive their card.
transactions in currencies other than local currency of Nepal / Bhutan or Indian Rupees).e. through payments in cash/traveler’s cheques and through the Car) should not exceed the limit. Visa/PLUS ATM and Cirrus ATM locations will access one account i. the holder of the International Debit Card. Do not reveal their PIN to anybody.
Please ensure that while using the Card outside India
customer are doing so strictly in accordance with RBI’s Exchange Control Regulations. As prevailing from time to time.e.e. Violation of these regulations in any manner would be liable for action under the Foreign Exchange Management Act. as prevailing from time to time. set by RBI. Only customer should know this number. In case of multiple accounts linked to their card.
. 1999. Their aggregate expansive incurred abroad (i. The onus of ensuring compliance with the regulations is with customer. all their transactions at Merchant Outlets. the Primary Account Number designated by customer. The four-digit PIN helps customer to access their accounts.(i.
get an account balance.5 lakh ATMs which customer can access with their international Debit Card.000 per day with their Debit Card. request for a cheque book and transfer funds. Rs. Customer can also deposit cash/cheques. making it much simpler for you to do their banking. That’s world class banking for customer. 15. Add to this an international network of over 6. Free 24 hour ATM:Customer can withdraw up to Rs.SAVING ACCOUNT
The e-Age Saving Account from HDFC Bank brings customer a comprehensive range of products and services. all at the push of a few buttons.
10.000 per day from any of HDFC BANK extensive network of over 650 ATMs across 110 cities all over the country. This amazing facility is available 24 hours a day 365 days a year. HDFC BANK now has 211 branches in 110 cities and over 650 ATMs across the country. Each one is designed to minimize their effort.
• Open a Fixed Deposit.Free Net Banking: . Customer can:
Check their up to the minute account balance etc.HDFC BANK convenient Net banking facility will open up a whole amount of services for customer at just the click of a mouse. With HDFC BANK’S international Debit Card. customer can shop at 18.000 establishments in India and over 100 Lakh establishments in 140 countries. The amount customer spend on their card will be automatically debited from their Savings Account. • Get a Demand Draft • Make a TDS inquiry • Request a stop payment on a cheque • Request for a new cheque boom • Transfer funds within their own accounts • Carry out third party transfer of funds International Debit Card: The HDFC Bank international Debit Card lets customer shop and also withdraws money from HDFC BANK ATM network. So when customer go shopping customer don’t have to carry cash!
. Customer can also withdraw cash from over 1600 VISA/Plus ATMs in India and 605 Lakh ATMs in 140 countries.
. So customer can withdraw cash from another branch. Bill pay:.
NOTE: . electricity. the bill amount will be deducted form customer account.Now for the firs time ever. Telephone of mobile phone.Interbranch/intercity Banking:-
Customer can access
their account from any of the 211 branches in 110 cities and over 650 ATMs across the country. through a self-cheque or an ATM. Customer can:• Get their account details
. cellular phone bills and insurance premium at the push of a few buttons.HDFC Bank’s 24 hour Phone Banking service lets customer conduct a wide range of banking transactions from the comfort or their home of office. the Internet. customer get an absolutely unique facility for paying their telephone. Pay utility bills using the ATM. or deposit a local cheque in one branch and get is credited to their account in another city. Free Phone Banking: .On receiving Costumer instruction to pay their bill. Customer could also transfer funds between two accounts.
That’s where HDFC BANK comes in. HDFC BANK understand that running a business requires time and money.
CURRENT ACCOUNT At HDFC Bank. also that their business needs are constantly evolving.
. etc. HDFC BANK provides customer with a choice of Current Account options to exclusively suit their business whatever the size scope.• Ask for a cheque book or a statement • Open a Fixed Deposit • Transfer money within their own accounts • Order a Demand Draft • Stop cheque payment.
000 per quarter. 000 only. for premium Current Account holders cheque leaves are free.
Free Services offered to Regular and premium current Account holders: • One ATM card per account (only for individuals/Sole Proprietorships). Regular Current Account
The regular Current Account requires an average quarterly balance of Rs. • Replacement in case of damaged cards. 2. 25.10.Take Customer’s pick! Customer can choose the Current Account that works best for their specific business needs. Premium Current Account
Their account can be operated from any of the branches for the depositing of withdrawing money. 1. A Premium Current Account requires an average balance of only Rs. Moreover.
. Besides the free ATM card and easy accessibility. their first 50 cheque leaves are offered free.
(Check with branch for value limits).• Monthly statement.
• Free Pay Orders
• Free Demand Drafts Payable on HDFC Bank locations
up to 30 per quarter.
card for individuals/Sole Proprietorships.
Online. Free Phone Banking access (please check for
online. real time Net Banking. 24 hours Phone Banking access (please check for availability in their city.). Features holders:• At par payable cheques. 40.000. real-time Net Banking. 24-hour availability in their city).
• Free inter-city Funds
Transfers up to Rs. Trade Account is suitable for small businessmen and traders. requires an average quarterly
HDFC Bank Trade
It is a Current Account ideal for small funds transfer across various cities in the country. 35 lacs.
3. A Trade Current Account balance of only Rs.
000 per quarter. Multi-city Banking If their business regularly requires customer to receive and send funds to various cities in the country. the power of a single account and multi-city banking. customer have access to more that 111 cities in the country. With just one account. The average balance requirement for the HDFC Bank Plus account is Rs. This results in huge savings on inter-city movement of funds and other service charges.
HDFC Bank Plus
Single Account. In other words. 100. Furthermore.
. HDFC BANK strategic alliance with Chase Manhattan Bank gives customer the advantage of competitive rats for trade finance and faster inward/outward remittances. HDFC Bank Plus provides customer with the means to facilitate such transactions efficiently.4.
Super save account (a temporary overdraft against their fixed Deposit) Would not it be great to earn a high interest on their Fixed Deposit and at the same time enjoy the liquidity associated with a Saving account/ Get their self the HDFC Bank Super Save Account and that’s exactly what customer will have.000 and enjoy a temporary withdrawal limit of up to 75% of their deposit
. Customer can access their account from any of HDFC BANK 211 branches or over 650 ATMs spread across India. So customers get their money whenever customers need it. just like Savings Account. Even in an emergency. Easy operation Customer can open a supersaver Account with nominal sum of just Rs. customer need not break their fixed Deposit to withdraw money. 25. How do I benefit from the Super Save Account? Maximum Liquidity Their Super Saver Account allows customer to issue cheques and use and ATM card for withdrawals.
HDFC BANK personal Bankers will give customer expert advice on the best possible account plan yielding the most attractive interest. High yield Customer can choose any account plan between 6 months and 5 years for their Super Saver Account.
overdraft interest will be charged at the Bank’s Prime Lending Rate (PLR). Better Returns that a Savings Account Even if customer withdraw unto 70% of their Supersaver Account on day one and do not put it back for a year. their deposit in not broken. customer can take an overdraft by simply using a cheque of through an ATM. Customer are required to pay an overdraft interest that is 2% more than the interest earned by their Fixed Deposit for the amount of overdraft. their entire deposit continues to earn a high rate of interest. and only for the period for which customer use the money.
. i. 2 Lakh.e. Isn’t that great?
For overdraft limits greater than Rs.Even after customer withdraw a part of their limit. depending on their needs. Besides.
Please contact their Personal Banker for details on documentation required. including Sundays sand bank holidays. This allows customer to enjoy 24 hour banking 365 days a year. Their convenience is all the matters.customers still earn more than customer would through a Saving Account.
. • Available in select cities only
Personalized Cheque Book Customers also get a cheque book with every Super Saver Account. with their name printed on it. Incredible isn’t it? Free ATM Card With every Super saver Account customer get a free ATM Card. Overdraft on Current Account against their fixed Deposits Customer can also get an overdraft on their Current Account against their own fixed Deposits with the bank.
it works like a savings Account. Customer wins both ways So what is a Sweep-in Account
.SWEEP IN ACCOUNT
(A Flexible Fixed Deposit cum Savings Account) Imagine having an account that changes to suit their needs. When customer want their money to earn high interest it worked like a Fixed Deposit. when customer want to withdrew money in a hurry.
customer savings Account will be subject to service charges as applicable.000 in fixed deposits.50.000 at all times to avoid service charges. 50.5000.e. In case of non maintenance of Rs. all customer need is to open a Fixed Deposit as per the norms of the bank and a Savings Account with no minimum balance requirement. the amount swept in earns interest for
. sweptin from their fixed Deposit into their Saving Account. customer just have to issue a cheque (or use the ATM.1 every time money is swept from their fixed deposit to their Savings account. interest loss in minimized. So whenever customer’s short of funds in their Saving account and their money is “blocked” in a fixed Deposit. Customer need to maintain a minimum fixed Deposit of Rs. The saving account needs to be opened with an initial amount of Rs. Further.) their money automatically gets transferred.It is a Fixed Deposit that comes automatically linked to a savings Account. To open a sweep in Account. i.
How does it work? Since the Sweep in Account holds their money in a Fixed Deposit in units of Re. It’s as easy as it sounds.
. Call us and HDFC BANK representative will come over to their home of office and open an account for customer. There’s more! Customer can. Further. Enjoy the benefits of a truly flexible fixed Deposit. 5. Well take care of details and formalities including their photograph. And the Sweep in automatically chooses the oldest deposit first before sweeping money into their Savings Account. The rest of their deposit continues to earn the original interest rate till maturity. if customer like always open an add on deposit for just Rs. customer link as many deposits as customer like to their Savings account.the tenure that it has completed without any penalty. Just open a Sweep in Account.000. The Savings accounts comes with it.
HDFC Bank is the largest depository participant amongst all banks. a seller can deliver the securities in Demat form. • Competitive fees for transactions. • Demat Account Status on the internet. • Nominal Annual Maintenance Charges. When customer places a buy order.
Now customer can avoid mutilation. What benefits do I get from an HDFC Bank Demat Account • No Account Opening Charges.
Personalized instruction Book. • Option to open a Demat Account with NSDL. CDSL or both. duplication and
pilferage of share certificates. Why do I need Demat Account? With SEBI making trading mandatory in the Demat form and the advent of Rolling Settlements it is imperative that all investors have a Demat Account with a depository participant. Open a Demat Account with HDFC Bank and protect their securities from damage loss and theft and remember. which can only be credited to a Demat Account.
theft or mutilation eliminated. customer will receive periodic account statements from HDFC Bank. • Problems of bad delivery.
• Safety of their securities with HDFC Bank. Loss and misplacement of certificates and eliminate the problems of bad delivery. Demat status etc. HDFC bank’s Demat Account is also accessible on the internet. transaction status.
. • Provide proof of identity/Residence (copy of ration card/ driving license/voters ID/passport or PAN card).
Faster settlements of buy and sell orders. Please bring the original to the bank along with a photocopy.
• Attach one photograph of each applicant. online. direct credit of allotment from public/ rights/bonus issues.299 per annum
Once their Demat account is active. allowing customer to check balances.
Annual charges of Demat account Rs. • Zero stamp duty.What other benefits do I get?
Paperless trading which will help prevents mutilation.
How do I open an HDFC Bank Demat Account?
Fill up the application form and the Agreement and get it singed by the entire applicant.
SAFE DEPOSIT LOCKERS
Safeguard their valuables with HDFC Bank lockers. share certificates and important documents are far too important for customer to risk keeping them at home. Besides. Customer can choose the locker of their choice depending on customer requirement. at a time. Complete privacy: The spacious design and special mobile screens of HDFC BANK locker rooms provide complete Privacy. the walls of HDFC BANK locker rooms are specially treated to protect them from water seepage and fire. Water – Proof Fire Proof and Secure: the lockers are housed in a special area of the branch which is secured by strong room doors and tamper-proof locks. HDFC BANK offer customer a safe and secure place to guard their valuables from theft. Various locker Sizes: HDFC BANK lockers are available in various convenient sizes. HDFC BANK allows usage of only one locker per row. Their jewellery. fire or any unforeseen circumstances. Besides.
. As an HDFC Bank customer.
Convenient hours of operations: Their can operate the lockers during the branch timings, and even on Sundays at select braches.
SERVICE STRATEGY OF THE HDFC BANK
HDFC bank aims at full customer satisfaction its customers range from ordinary household to high profile business houses. It has wide range of type of account and several other payment and deposition facilities to cater to the need of these customers for speedy transaction to match the demand of e-commerce .It has several model facilities like internet banking, telebanking etc. all the cheques presented to HDFC bank are accounted within a day where drawee branch is in the same city for out station cheques it takes maximum three days only. It has a team of dedicated motivated & trend professionals who listen to and sort out the problems of customers. To avoid long queue and waiting lines it has avoid network of reliable ATMs through out the country .It has ATMs are joined to the main server who satellite link which helps it to maintain data of every transaction ,after each transaction customer is served with the bank statement the customer may also access transfer his account via internet in addition all these services the bank also provides customers with debit and credit cards
which allows them to make transaction any where in the world which has visa compatibility epitomizes. The merits of both orthodox and electronic banking. Thus HDFC Bank not only tries to satisfy its customers but also make all attempts to delight them. HDFC Bank has three pronged services strategy: 1. People management 2. physical Environment Management 3. process Management People Management HDFC Bank has well qualified team of professional team of professionals who are experts in customer relationship management. They have achieved. Thus level of expertise through training and motivation program taken up at regular intervals because of this high levels of competence HDFC Bank is often of called as Indian Foreign Bank. Physical Environment Management Every Branch and ATM’s of HDFC Bank is located in the posh area of the locality it helps the bank to create a good image among customer. in this way hdfc bank
Further it helps customers access the bank facilities in leisure time that is while marketing or on way to some important destination. Further all ATMs and branches are fully air conditioned with relaxing environment which puts visitors at ease the peaceful hesitate the tension and stores of customers.
Process Management HDFC Bank has simplified procedures for transaction and opening accounts it has done a way with Hussle of Gvasenter which are mandatory in many in many banks similarly it has done a way with many lumbers one and non essential procedures which helps customers reduce stress and under tension.
OBJECTIVE OF THE RESEARCH
To know the various financial products provided by a Bank in the current scenario with reference to HDFC BANK Ltd.
To know the various facilities provided by the HDFC BANK Ltd. with an aim to retain their customers. To collect the data of HDFC BANK Ltd.
DATA COLLECTION METHOD There are two types of Data Collecting method. Types of data Primary data Secondary data Primary data: Primary data means data that are collected by different techniques like Questionnaire, Depth interview, Surveys, Schedules etc. In this project I have collected data by Questionnaire. Secondary data: Secondary data means data that are already available i.e.: they refer to the data which have already been collected and analyzed by someone else .Usually published data are available in: (a) (b) Various publications of the central, state or local Various publications of the foreign governments. governments. (c)Technical and trade journals. Sources of Secondary data:56
• A questionnaire was prepared to gauge the awareness of HDFC Bank in Retail banking sector. • Internet
SAMPLING Area of sampling is Delhi only. magazines and newspapers. • The question was presented in one to one interview with each of the respondents.• Books. • Reports and publications of various associations connected with industry. • Conclusions had been arrived at using the response of the questionnaire. The sample size is 100 which include all between age group 18-60 years with minimum qualifications required t o be an advisor in the company.
. • Survey has been done in and out of the bank covering a wide cross-section of the society. • Responses of the question had been thoroughly analyzed.
OF ACCOUNTS %age 70 28% 110 44% 20 8% 50 20%
BANKWISE DISTRIBUTION OF ACOUNT HOLDERS
Based on the response of 250 people following table has been made: NAME OF THE BANK HDFC ICICI UTI IDBI NO.
HDFC 3. UTI
. IDBI 4.IDBI 20%
HDFC 28% HDFC ICICI IDBI UTI ICICI 44%
RANK IN ORDER OF BANKS WITH RESPECT TO NUMBER OF CUSTOMERS HELD 1. ICICI 2.
POPULARITY OF THE TYPES OF ACOUNTS Based on the response of 250 people following table has been made
. It can very well take on the challenge posed by ICICI Bank and try to improve its position by focusing on key strength areas and strategically eliminating its weak points.Since HDFC Bank is number two in terms of number of account holders. and its positive image and enormous goodwill among masses elevates. its position from nicher to runner in retail banking sector.
Name of Account SAVINGS CURRENT FIXED SALARY
Used by people % age 80 32% 70 28% 40 16% 60 24%
housewives and small businessmen who could easily put their money from irregular source of income into this account. Possible targets could be school and college going students. innovative ideas has to be framed to inveigle new prospects into this venture.
. Savings 2. Fixed Since saving account ate the most popular among masses.Types of accounts held by people ranked in order 1. Current 3 Salaries 4.
ATTRIBUTES ATM FACILITIES LOCATION SERVICE ATMOSPHERE EMPLOYEE BEHAVIOUR MEAN RANK 2. 3 etc.72 4. 2.MOST SOUGHT AFTER ATTRIBUTES OF A BANK
People ranked different attributes as 1.24 5.276 3.388
MEAN RANK 6 5 4 3 2 1 0 ATM FACILITIES LOCATION SERVICE ATMOSPHERE EMPLOYEE BEHAVIOUR 2.6 3.6 3. Based on these responses mean rank has been calculated.24 3.388
.88 2.88 2.
5. 2. 6.NOW ARRANGING THE MEAN RANKS IN ASCENDING ORDER WE GET THE OVERALL RANK WHICH IS AS FOLLOWS: 1. The Bank need to improve upon this front because in terms of customers consideration of attributes in choosing a bank ATMs and location of it are of paramount importance. ATM LOCATION EMPLOYEE BEHAVIOUR FACILITIES SERVICE ATMOSPHERE However it was felt during the survey that major constraint which may laggard the growth of HDFC Bank is the inadequate number of ATMs across the country. 3.
SATISFACTION LEVEL OF CUSTOMERS
FROM THE RESPONSES OF CUSTOMERS OF DIFFERENT TYPES OF ACCOUNTS CUSTOMER SATISFACTION LEVEL HAS BEEN GAUGED.
. SAVINGS CURRENT SALARY FIXED 80% 75% 85% 70%
100% 80% 60% 40% 20% 0% SAVINGS CURRENT SALARY FIXED Series1
As we can clearly make out from the graph above shown that salary account is most popular among the customers .After which savings is the second most popular among customers.
While 55% of
. which means that they are satisfied with the facilities and services provided by the bank to them.POSSIBILITY OF EXPANSION CONSIDERING PRESENT CUSTOMER BASE
From the responses of question whether people would like to open another account following table has been made. YES NO 45% 55%
YES 45% YES NO NO 55%
The chart above shows that 45% of people would like to open another account in the HDFC Bank.
people says no to opening another account which means that they are not satisfied with the bank.
Urban income and also the market is
. It can very well take on the challenge posed by ICICI Bank and try to improve its position by focusing on key strength areas and strategically eliminating its weak points. From the response of the Questionnaire gathered and
finding the experience during the survey from of people around. a lot of conclusion and findings have been arrived at which are sufficient to unreveal the mysteries and connotations of customer behavior and their satisfaction.INTERPRETATIONS
1. For expansion HDFC Banks should make forays into semi-urban and smaller cities and also rural areas . 2.In fact these days. its position from nicher to runner in retail banking sector. and its positive image and enormous goodwill among masses elevates. about the HDFC Bank. rural income is increasing at a much faster rate then. 3.Since HDFC Bank is number two in terms of number of account holders.
innovative ideas has to be framed to inveigle new prospects into this venture. Possible targets could be school and college going students. 5. Since saving account ate the most popular among masses. The Bank need to improve upon this front because in terms of customers consideration of attributes in choosing a bank ATMs and location of it are of paramount importance. but they are the ways of accessing and transacting with them from anywhere and anytime at any part of the world. housewives and small businessmen who could easily put their money from irregular source of income into this account.
. However it was felt during the survey that major constraint which may laggard the growth of HDFC Bank is the inadequate number of ATMs across the country. In this way the Bank can gain foothold over these territories and reap rich harvest in terms of booming account numbers. 6.considered
expansion prospects very good one. Hence. Now-a-days Banking is no more the way of only providing interest for the deposited money. 4. flawless and effortless access of bank accounts from mobile phones and Internet has to be made available.
which too might become Banks very soon rather then competing among themselves. Hence vision for success in near future is building up of information gathering and dissemination network base
.7. It is also felt that in the era of e-banking where transaction is more on the IT highway the success of bank will depend more on building information networks rather then anything else. In the near future all existing banks including HDFC Bank may have to rival Airtel and hutch network.
UTI. Opportunity HDFC Bank has good opportunity in Rural area and offices etc.
. IDBI.SWOT ANALYSIS
Strength The keys strength areas of HDFC Bank are their motivated and highly competent staff who is aggressive in their pursuit for excellence in terms of employee competence it rivals the highly rated foreign banks. Centurion. an expanding at a very fast rate and are perceived as threat to HDFC Bank. Threat Other banks like ICICI. Weakness Though HDFC Bank has wide coverage of ATM Network through out the country it is not considered adequate keeping in view is wide customer base. which are still untouched by banks of such repute an are considered virgin markets.
MAKE STRONG PUBLIC RELATIONS: The bank has to provide better services to satisfy the needs and wants of customers specially on the occasion of deepawali and dasahara like festivals so that the customer has to satisfied with their services of banks the bank is to provide loans. Customer must have all the information regarding charges & fees. To be some quality conscious.SUGGESTIONS
Try to improve after sales services. specially housing loans to the customer at very low interest rates so that the every middle class family is to avail loans without any problem. HDFC must issue at par cheques to their customers. Try to provide Complete/Actual information to the customer. Try to install ATM’s at more convenient places for their customer. CONTINUOUS MARKET FEED BACK:
TRY TO START ON LINE TRADING: Due to on line trading the convince to customer is given by way of opening and depositing their money on the basis of on line services.in the hospital .To make the good relation with the customer it is very important to take feed back time to time to know about the problems and difficulties which are faced by the customer. So that the customer has convience to withdraw their money without problems.like petrol pumps. PROVID RECENT INFORMATION TO THE CUSTOMER: The bank is able to give as many as possible information to our customers so that the customer is able to understand which type of information is to bi used in a particular sector. TRY TO INSTALL ATM’s AT MORE CONVENIENT
PLACES: financial year is also increase the customer has also avail their The bank is to install ATM’s as many as possible due to convenience of their customer specially in commercial places . TRY TO OPEN EXTENTION COUNTER AT VARIOUS PLACES:
. in market .
The bank has to open their extension counter in various places of their city so that the deposit of bank is also increase and the turnover of bank during facilities which is provided by bank cheaper rate.
No study is full proof or error free. Thus the results may not be applicable to the whole country. • The survey was limited within the geographic limits of
the city of Delhi and Ghaziabad. This study has also got some limitations that are given below.
So the result may not reflect
the actual situation. • Most of the people were either not very willing to spend time in discussing about policies or were reluctant to tell about the plans for the fear of receiving unsolicited call from the company in order to promote its policies. A large sample size may reflect better result .
Sample size was only 100.
. the report would like to present the in depth analysis of the products and services provided by HDFC bank in Delhi and Ghazibad.SUMMARY
Chapter 5 includes suggestions. technology. The data which is collected through questionnaire was used in the analysis and the interpretations are given accordingly. The business profile covers the information about the key business areas. limitation. business focus. management etc. capital structure. Chapter 4 includes the data analysis and interpretations. summary and conclusion part. Chapter 3 includes the objectives of the research and the research methodology used while preparing the project. The company profile includes the information about the promoters.Chapter 1 includes the introduction part. which covers the basic introduction of the HDFC Bank. Chapter 6 is the last one which includes the questionnaire and bibliography. awards. profitability ratios of the bank. Chapter 2 includes the Company profile and business profile.
. various accounts and facilities provided by the bank.
This project helps those people and Bank to avail all the facilities and improve their services respectively. In today’s world it is necessary for a customer to have a complete knowledge of services provide by a Bank. In this project an attempt is being made to include all the complete and accurate information regarding the Bank services charges and fine.
.As it is the fastest growing section and HDFC Bank is one of the top biggest player of this sector in this project I deal with all those areas and various product which attract the customer most. This project helps those customers who want in-depth knowledge of all the product of HDFC Bank.
The following questionnaire was used to conduct the market survey of consumer perception towards insurance in Delhi and Ghaziabad. The survey was conducted during the month of May and June 2008. A total of 100 people were contacted for the survey.
Age (In yrs) 18-20 40-50 [ ] [ ]
[ ] 60 & above [ ]
1. Sex: [ ] M [ ] F : 20-30 50-60
3.QUESTIONNAIRE FOR RESPONDENTS
I. hereby. I request you to read the following before you proceed further. I am grateful to you for your support and thank you for your honest response. • Please tick only one option unless mentioned otherwise. declare that all the information provided by you is strictly for the purpose of research and shall not be used for any other purpose. Respondents Name : ___________ _ 2. • All the information in the questionnaire is for academic purpose and shall be kept confidential.
consultant etc. Your marital status □ Married □Unmarried
5. Remar k
(Doctor. Which of these best describes your occupation? Occupation Working/salariedGovernment Working/salariedPrivate Business Professional Engineer. You consider yourself as belonging to which annual income group □ <Rs. CA.4.1 lacs □ 1-3lacs
. Your educational background □Only up to 10th □10+2 □ Graduate □ Post graduate and above 6.)
How satisfied are you with each of the product that you invested in? (The satisfaction could be based on different parameters e.) Satisfaction level Invested Highly in dissatisfi ed
Dissatisfie Neither d satisfied nor dissatisfi ed
Moderate ly satisfied
Complete ly satisfied
Fixed Account Savings Account Salary Account Current
.□ 3-5lacs □ 5-10lacs □ >10 lacs
PART -B 8.g. in terms of the returns that product has offered to you / quality of serviced offered by the company / quality of service offered by the consultant who sold you the product etc.
Account 9. ATM LOCATION EMPLOYEE BEHAVIOUR FACILITIES SERVICE ATMOSPHARE
. WHAT ATTRACTS YOU MOST? (RANK) 1. DO YOU HAVE AN ACCOUNT IN ANY SCHEDULED BANK? 1. 4.FIXED ACCOUNT 4. 2.UTI BANK 4. 5. WHAT TYPE OF ACCONT DOES YOU HAVE? 1.IDBI BANK 10.SALARY ACCOUNT 11. HOW LONG ARE YOU BEING ASSOCIATED WITH THE BANK? YEARS________ MONTHS______ 12. 3.SAVING ACCOUNT 2.HDFC BANK 2.ICICI BANK 3.CURRENT ACCOUNT 3. 6.
Do you HDFC Bank would be able to position itself as a strong financial institution? □ yes □ no
14.13. If yes do you want to open another account? □ yes □ no
16. If no then what are the reasons for dissatisfaction?
17.________________________________ _______________________________ __ _______________________________ __
. Are you satisfied with the bank? □ yes □ no
15. If you are offered a good savings plan from HDFC Bank □ yes Your with good rate and benefit will you be interested? □ no address & phone no
_______________________________ __ _______________________________ __ Thank you!!!
Books: Principles of Marketing Marketing ManagementResearch MethodologyPhilip Kotler Rajendra Saxena C.hdfc.com www. Kothari
Websites: www. R.