VIVEK COLLEGE OF COMMERCE
PROJECT BY: Mst MIHIR DELIWALA FYFM Roll no: 06.
Our Special thanks to Prof Debjani. Who has given us the opportunity to present on this challenging project of hdfc bank. It has also given us immense knowledge of FINANCIAL STUDY. The project is a comprehensive one ranging from fundamental concepts. I sincerely hope that this project will satisfy both teacher and the thought.
HDFC Bank Limited is a major Indian financial services company based in India, incorporated in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. HDFC Bank has 1,986 branches and over 5,471 ATMs, in 996 cities in India, and all branches of the bank are linked on an online real-time basis. As of 30 September 2008 the bank had total assets of Rs.1006.82 billion. For the fiscal year 2010-11, the bank has reported net profit of 3,926.30 crore (US$746 million), up 33.1% from the previous fiscal. Total annual earnings of the bank increased by 20.37% reaching at 24,263.4 crore (US$4.61 billion) in 2010-11.
HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 1412 Branches and 2890 ATM's in 528 Indian towns and cities. Deals in: Personal Banking, NRI Banking, Wholesale Banking The Authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital is Rs424.6 crore (Rs.4.2 billion) The HDFC Group holds 19.4% of the bank's equity and about 17.6% of the equity is held by the ADS Depository (in respect of the bank's American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 570,000 shareholders.
TYPES OF DEPOSITES
Recurring deposits are accepted in equal monthly installments of minimum Rs 1,000 and above in multiples of Rs 500 thereafter. Recurring Deposit accounts can be opened for a minimum period of 12 months and in multiples of 12 months thereafter, upto a maximum of 120 months. The amount of installment once fixed, cannot be changed. Installment for any calendar month is to be paid on or before the last working day of the month. Where there is delay in payment of installment, one can regularize the account by paying the defaulted installment together with a penalty (at present it is @ PLR plus 4 % for the period of delay).Fraction of a month will be treated as full month for the purpose of calculating the penalty. The total amount repayable to a depositor, inclusive of interest, depends on the amount of monthly installments and the period of deposit.
The term Short Term Deposit refers to an amount of money placed in a bank or financial institution for a term no longer than one year. A Short Term Deposit will usually earn a fixed rate of interest.
Axis Bank offers you simple reinvestment Fixed Deposits (at very competitive interest rates), which can be opened with a minimum investment of Rs 10,000. You can make additions to your deposit in multiples of Rs 1,000 each. The tenure of your deposit must be a minimum of 6 months.
TYPES OF LOANS
Home Loans are given for the property like houses or apartments bought in your name. These types of loans are very common in the salaried employees to buy the house. The eligible limit for the home loans will be based on the financial strength of the app0licant. Nowadays all the banks are tightening the loan restriction because of economy crisis. One advantage with the home loans is tax savings. You can read more about the tax benefits on home loans. Also you can read the list of articles on home loans.
Personal car loans are loans which you obtain in your own name for the purpose of purchasing a car. They cannot be used for other expenses, or for other purchases. They must be spent on a car, which the lender then uses as collateral to secure the loan. They are repaid to the lender monthly, or at some other period agreed upon by both parties. Personal car loans are the responsibility of the individual who signed for the loan, and not their company or business.
Personal loans are tricky – you never can quite make out whether it is absolutely necessary or if it is just a luxury you will be paying back for the next few years. That new computer, or that credit card outstanding, or the house refurnishing…the need for personal loan s is never ending. This site helps to get online cash advance through online application.
OTHER SERVICES GIVEN BY HDFC BANK.
1. Demat Account
HDFC BANK is one of the leading Depository Participant (DP) in the country with over 1 million demat accounts. HDFC Bank Demat services offers you a secure and convenient way to keep track of your securities and investments, over a period of time, without the hassle of handling physical documents that get mutilated or lost in transit. HDFC BANK is Depository participant both with -National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL).
2. Credit Cards
A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing.
Credit cards offered by HDFC bank to customers:
Super Premium Cards. Woman's Solitaire Credit Cards Premium Travel Credit Cards Titanium Card Gold Credit Cards Commercial Cards
3. Mobile Banking
Mobile Banking is a service that allows you to do banking transactions on your mobile phone without making a call, using the SMS facility. This service FREE from HDFC Bank. BENEFIT OF MOBILE BANKING Balance Inquiry Checking the last 3 transactions
Placing a Stop Payment on a Cheque Requesting a Cheque book Requesting an Account Statement Cheque Status inquiry
4. Net Banking
Net banking is an Internet Service offering a simple, convenient and secure method of accessing bank accounts on the Internet. It's never been so easy to access and manage your finances in a secure, real-time, online environment; Anywhere, Anytime. BENEFITS OF NET BANKING We can access UBL bank account 24 hours a day, 7 days a week. Can keep a close eye on our account balances, Print account statements, Pay bills, Transfer funds, Track purchases Bill Pay.
5. ATM Facility
An ATM card is a card issued by a bank that can be used at an ATM for deposits, withdrawals, account information, and other types of transactions, often through interbank networks. BENEFIT OF ATM FACILITY 24-hour access to Cash Personalized Cash Withdrawals View Account Balances & Mini-statements. Order a Cheque Book / Account Statement HDFC Bank Credit Card Payment. Deposit Cash or Cheques Refill your Prepaid Mobile
Pay your Utility Bills Cheque Status Enquiry
1. 5% Cash Back on HDFC Bank Debit Cards. 2. HDFC Bank Launches 'Solitaire' Range Of Premium Women's Cards. 3. Two Year Account statement now available on Net Banking! 4. HDFC Bank and Vodafone India launch product for financial inclusion. 5. Financial Results for the Quarter & Half year ended September 30, 2011. 6. Rates and Service Charges at a quick glance.
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