INDUSTRY PROFILE

Finance is the life blood of trade, commerce and industry. Now-a-days, banking sector acts as the backbone of modern business. Development of any country mainly depends upon the banking system. The term bank is derived from the French word Banco which means a Bench or Money exchange table. In olden days, European money lenders or money changers used to display (show) coins of different countries in big heaps (quantity) on benches or tables for the purpose of lending or exchanging. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it.

Definitions of Bank According to Indian Banking Regulation Act 1949," Banking Company performs
functions of accepting money for the purpose of lending or investment of deposit of money from public, repayable on demand or otherwise"

According to Sayers," The debts of the institutions which can be used for settlement of others
peoples debt is known as bank"

Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays
out on customer's order."

So, a bank is a financial institution dealing in money in a sense that it accepts deposits of money from the public to keep them in its custody for safety. Also it deals in credit. It thus, functions as a mobiliser of saving in the economy.

SECTOR PROFILE BANKING STRUCTURE IN INDIA

Here is more concerned about private sector banks and competition among them. Today, there are 27 private sector banks in the banking sector: 19 old private sector banks and 8 new private sector banks. These new banks have brought in state-of-the-art technology and Aggressively marketed their products. The Public sector banks are facing a stiff competition from the new private sector banks. The banks which have been setup in the 1990s under the guidelines of the Narsimham Committee are referred to as NEW PRIVATE SECTOR BANKS.

 FUNCTIONS OF BANK

1. Primary Functions (a) Acceptance of deposits (b) Making Loans and Advances
Loans Overdrafts Cash Credit Discounting of Bills of Exchange

2. Secondary Functions (a) Agency Functions

Collection of cheques and bills etc 4

Collection of interest and dividend Making payment on behalf of customers. Purchase and sale of securities. Facility of transfer of funds To act as trustee and executor

(b) Utility Functions

Safe custody of customers valuable articles and securities. Underwriting facility Issuing of Traveller's cheque and letter of credit Facility of foreign exchange Providing trade information

CLASSIFICATION OF BANKS
Banks under Reserve Bank of India has been classified as follows:-

1. Non-Scheduled Banks: These are banks, which are not included in the second schedule
of the Banking Regulation Act, 1965. It means they do not satisfy the conditions laid down by that schedule.

2. Scheduled Banks: These are the banks, which are included in the second schedule of the
Banking Regulation Act, 1965. According to this schedule a scheduled bank: Must have paid-up capital and reserve of not less than Rs. 5,00,000 Must also satisfy the RBI that its affairs are not conducted in a manner detrimental to the interests of its depositors.

INTRODUCTION TO HOME LOANS

Home Loan is a Secured Loan offered against the security of a house/property which is funded by the banks loan, the property could be a personal property or a commercial one. The Home loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property. Owning a piece of land or property is a lifetime dream for every individual. There are many home loans provider in the market to make your dream come true. But before you opt for any home loan provider, you need to consider certain factors related to property that you are interested in buying and also about the salient features offered by a home loan provider. And the most important thing is you should know about each and every term related with Home Loans before applying for a Loan. It is always advisable to consult a home loan expert or consultant before applying for a home loan or purchasing a property. TYPES OF HOME LOAN 1. HOME IMPROVEMENT LOANS These loans are given for implementing repair works, healing and renovations in a home that has already been purchased. Home improvement loans are used to finance improvements and add on to the existing set of credentials of beauty on ones owned house, recently purchased property or rented accommodation. Home improvement loans are used to maintain or enhance the value of ones house. In general it includes: repairs, remodeling, energy-related items (permanent in nature), repairs, a new kitchen, a new bathroom, terrace, an extension or general property improvements. Luxury items and fireplaces are generally not eligible, though. Many improvements in landscape and even swimming pools are nowadays considered to be a part of home improvement. So, to sum up the story, it can be concluded that all the actions that can be considered to increase the face value of the property in such a way that it increases the expected sales value of the home or the property are to be considered home improvements.

2. HOME CONSTRUCTION LOANS These loans are available for the construction of a new home. Home construction loans are used to finance for the construction of ones newly acquired home or if they are planning to build a home. Home construction loan is the most appropriate loan selection

If a person planning to build a new home If a person has planned and decided to invest in new houses or realty projects If a person does a planning major renovation to his exist home.

3. HOME EXTENSION LOANS This type of loan serves the purpose when the borrower wants to extend or expand an existing home, like adding an extra room etc. Home extension loans are used by customers to get loans from the banks to extend their houses, by adding more rooms, kitchens, wash rooms, terraces, or any other rooms for their growing family. It may also be used to enclose open balcony/terrace space, or constructing a Puja ghar. It provides a medium to extend or add space to ones house. Be it an additional room on the same floor or the terrace, a larger bathroom, or even enclosing an open balcony, the Home Extension loan will aid ones home extension plans with it's appropriate loans and comfortable re-payment options. Home Extension loans are quick to arrange and repayable in easy monthly installments. 4. HOME PURCHASE LOANS These are the basic forms of home loans used for purchasing of a new home. With about a million home lenders and mortgage brokers obtaining a home purchase loan or mortgage has become really pretty simple. Whether you're purchasing your first home as a first time buyer, moving into a bigger home, or looking for ways to save money on your monthly loan payments, home purchase loan can be taken with so many attractive rates and offers in the market, not to forget the hidden costs associated with each of them.

Home purchase loans are tailored to match ones specific needs and budgets, including fixed rate loans, adjustable rate loans, second liens, and home equity lines of credit. 5. LAND PURCHASE LOANS These loans are available for purchasing land for both construction and investment purposes. Land Purchase loans are used by customers who wish to purchase a plot of land for commercial or residential purpose. Everyone has his/her dream perfectly sketched in his souls and so is his ambition to get his house erected on the exact location he dreamt that to be. If one have decided to purchase a land as an investment or for their own dream home, a land purchase loan is one they will cherish. Loans that are strictly for land purchase can be as scarce as good residential plots. While many lending firms around the nation compete to provide mortgages for the purchase of a house on a lot, only local institutions typically will be interested in lending for an empty lot. 6. HOME CONVERSION LOANS These loans are available for those who have financed the present home with a home loan and wish to purchase and move to another home for which some extra funds are required. Through home conversion loan, the existing loan is transferred to the new home including the extra amount required, eliminating the need of pre-payment of the previous loan. 7. HOME EQUITY LOANS Home equity loans helps customer to encash the market value of the commodity by taking a loan by mortgaging the property. So, Home equity loans are availed by customers, who wish to mortgage his/her property to the bank for taking some loan for some other purpose. Then, it's up to the bank's discretion to consider the market value of the property and accordingly decide how much to pay to the customer.

Both the residential as well as non residential property can be considered for the approval of the loan, provided the mortgager is a licensed title holder and the land is free from any kind of dispute. Home equity loans don't restrict one to use the loan money in specific investments. It might also be used in marriage, higher education, medical expenses, etc. However it should not be used in any illegal or speculation purposes. 8. BRIDGE LOANS Bridge loans are designed for people who wish to sell the existing home and purchase another one. The bridge loans help finance the new home, until a buyer is found for the home. Bridge loans are used by customers as an effective vehicle to capitalize on a purchase opportunity. It can be considered as a short term financing scheme which is generally expected to be paid back, within the range of 6-36 months, till the time the borrower gets more permanent and lower cost financing. So, bridge loans, (or swing loans as they are otherwise said) is a short term loan provided by various banks like Bank of India, SBI, HDFC, Citibank, ICICI etc. often used for commercial real estate purchases, retrieve real estate from foreclosure. Bridge loans in corporate finance are called gap financing, and are used to cover the time between redemption of issuance of one bond and its replacement by a new issue. They can also be operating loans for periods between LOI and acquisition, or quiet period and IPO. Bridge loan may contain a decent proportion of prepaid interest, sometimes as much as six months. If the home gets sold before that time, the person may receive interest payments back, but if it hasn't sold, the person may be required to continue payments.

FACTORS THAT DECIDE YOUR HOME LOAN ELIGIBILITY Basic Parameters that describe your Home loan entitlement & home loan endorsement are as follows: Salary/ITRHigher the salary of an individual more is the chances for greater eligibility of a loan amount. Property/CheckBanks check whether the property selected by you is ideal according to the technical & legal norms. Most importantly, they check the authorities have sanctioned property or not. Therefore, before deciding the property do check the property has approved sanctioned plans & complies with legal & technical aspects of the property. Your Profile, Academic & Professional BackgroundBanks credit manager decisions are leveraged on your profile, academic & professional qualification. As it is a long-term commitment with the bank, they analyze on potential growth in your career graph, industry you are working in & kind of profile you are into. Like, Call centers/BPOs are not treated at par with other profiles, as they tend to have high attrition rates. Banks generally want an applicant with stable job hence check for current & total work experience. Doctors, engineers, CA, Management etc., sway bankers decisions as they see the potential growth in their careers. Your Credit/default profileBanks verify whether you have defaulted any or previous loan repayments. This is done against both internal systems and plus third party systems like Cibil/Satyam. So now, it is tough to have bad debts with one bank &take loan from other bank.

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 Family Credit HistoryBanks also verify the financial records of your blood relation. If they have defaulted then you are in a fix. You need to get to unnecessary hassles so, its always advised to have clean record with the banks. Generally, banks check these things before giving loans. Basically, they check persons ability to pay, assess the intention to pay & the property they are funding is safe or not? TERMS AND CONDITIONS FOR AVAILING TAX BENEFITS ON HOME LOANS 1. Tax deductions can be claimed on housing loan interest payments, subject to an upper limit of Rs 150,000 for a financial year. Interest on the fresh loan can be claimed as a deduction, subject o the stated upper limit. 2. An additional loan for extension/addition to the same house and the person's deductions on the existing loan are less than Rs 150,000; he can claim further benefits from the additional loan taken, subject to the upper limit of Rs 150,000 for a financial year. 3. Tax benefits under Section 24 and deduction under section 80C of the Income Tax Act can be claimed only when the payment is made. If a person fails to make EMI payments, he cannot claim tax benefits for the same. 4. According to the Income Tax Act, only the person who has taken the loan can claim tax rebates. 5. The interest on home loans taken for repairs, renewals or reconstruction, also qualifies for the deduction of Rs 150,000. 6. A husband and wife, both of whom are tax-payers with independent income sources, get tax deduction benefits, with respect to the same housing loan; to the extent of the amount of loan taken in their own respective name.

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7. If a person buys a house and sells it within the same year/after 3 years, and if any profit is made, then a capital gains tax liability arises on the same for which the individual is liable to pay short-term capital gains tax since the sale took place in the same year. But, if the sale had taken place after 3 years, then a long-term capital gains tax liability would have arisen. 8. If it is proved that the home loan is simply an arrangement between the loan-seeker and the builder or with a third party for the purpose of claiming tax benefits, then tax benefits will not be allowed and benefits, previously claimed, will be clubbed to the income and taxed accordingly. 9. Tax benefits on interest on housing loans are allowable only for the original loan and for a second loan taken to repay the first loan and not for subsequent loans. This means that if you have already availed of one loan to refinance the original loan and want to no avail a third loan to refinance the second loan, tax rebate on interest payments will not be permissible. This is because the Section 24 (1) only talks of the second loan and not of subsequent loans. Even if you take the second loan at a rate of interest higher than the original loan, you will be eligible for a tax rebate on the second loan.

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INTRODUCTION TO HDFC BANK

INTRODUCTION TO HDFC BANK

As a result of the Initiation of economic reforms in 1991 there has been a revolution in the banking industry. During the last few years the banking industry has changed tremendously as for as its structure is concerned or the resources provided by it are concerned.

The banks have been using technology to improve their products and efficiency.

Today,

technology is not only changing the environment but also the relationship with customers. Technology has not only broken many barriers but also brought many superior products and channels.

Now-a-days banks apart from performing their traditional functions have come with new types of financial services such as leasing, factoring, insurance, venture capital, housing finance, consumer finance, merchant banking, mutual funds, mobile banking, and phone banking, ebanking. HDFC bank is one such institution, which is providing maximum of these services.

Besides providing above stated services, HDFC banks focus on customer's satisfaction. The idea behind the report is to study the services provided by HDFC bank and to bring out with suggestions for proper utilization of various service provided by bank.

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HDFC Bank came into existence in the year 1977 with an object to provide housing loans . Thereafter in 1994 this corporation opened its first bank in Mumbai and currently has a nationwide network of 2,544 Branches and 8,913 ATM's in 1,399 Indian towns and cities. This shows that the network of this bank is extended to almost all the countries of the world. A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.02 million customers to own a home of their own, through cumulative housing loan approvals of over Rs. 4.63 trillion and disbursements of over Rs. 3.74 trillion as at March 31, 2012.

This bank was declared Asia's No. 1 bank in the year 1999 on the basis of best customer services provided by them. Helping Indians experience the joy of home ownership. The road to success is a tough and challenging journey in the dark where only obstacles light the path.

However, success on a terrain like this is not without a solution. As we found out nearly three decades ago, in 1977, the solution for success is customer satisfaction. All you need is the courage to innovate, the skill to understand your clientele and the desire to give them your best.

Today, nearly 3 million satisfied customers whose dream we helped realize, stand testimony to our success. Bank also offers specialized financial services to our customer base through

partnerships with some of the best financial institutions would wide.

A soft spoken man of few words, Mr. Parekh nevertheless held strong and definite views with a quiet conviction. He was always concerned with building bridges, improving and encouraging communication between people.

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HDFC bank Ltd was promoted in the year 1994 by the premier housing finance company of the country, HDFC Ltd. The Bank commences operation as a scheduled commercial Bank in January 1995. Today the bank has a nationwide network of over 2,111 branches and 5,998 ATMs spread over 1,111 towns and cities across India.

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Business Objective
The primary objective is to enhance residential housing stock in the country through the provision of housing finance in a systematic and professional manner, and to promote home ownership. We aim to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets.

Organizational goals: HDFCs main goals are to:

a) b) c) d) e) Develop close relationship with individual, Maintaining its position as the premier housing finance institution in the country, Transform ideas into viable and creative solutions, Provide consistently high returns to share holders and To grow through diversification by leveraging off the existing client base.

Organization and Management

HDFC is a professionally managed organization with a board of directors consisting of eminent persons who represent various fields including finance, taxation, construction, urban policy and development. The board primarily focuses on strategy formulation policy and control designed to deliver increasing value to share holders.

Mr. Deepak. S. Parekh

Mr. Keki. M. Mistry

Mr. Aditya Puri

Mr. V. Srinivasa

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Details of the Board of Directors in terms of their directorships/memberships in committees of public companies (excluding HDFC) as on March 19, 2012 are as under:

Sr. No. 1 2 3 4 5 6 7 8 9 10 11

Name of Director Mr. Deepak S. Parekh Mr. Keshub Mahindra Mr. Shirish B. Patel Mr. B. S. Mehta Mr. D. M. Sukthankar Mr. D. N. Ghosh Dr. S. A. Dave Dr. Ram S. Tarneja Mr. N. M. Munjee Dr. Bimal Jalan Dr. J. J. Irani $

Category* Chairman Vice Chairman Independent Independent Independent Independent Independent Independent Independent Independent Independent Executive Director

No. Directorship** 8 5 1 14 4 5 8 10 14 0 3

of No. of Committees*** Member 5 1 0 9 2 1 6 6 9 0 1 Chairperson 2 1 0 5 1 1 2 1 4 0 0

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Mr.V.Srinivasa Rangan

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Mr. Aditya Puri

Managing Director

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Vice Chairman 14 Mr. Keki. M. Mistry Chief Executive Officer & 13 10 4

$ Dr. J. J. Irani was appointed as an additional director under Section 260 of the Companies Act, 1956, who shall hold office as such until the conclusion of the ensuing annual general meeting of the Shareholders of the Corporation. * All Independent directors have confirmed having met the criteria laid under Clause 49 (I) (A) (iii) of the listing agreements relating to Corporate Governance. ** Directorships do not include alternate directorships, directorships of private limited companies (except private limited companies that are subsidiaries of a public limited company) and of companies incorporated outside India. *** In terms of Clause 49 (I) (C) (ii) of the Listing Agreements, a director cannot become a member in more than 10 committees or act as Chairman of more than 5 committees across all public companies in which he is a director.

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Organization Chart

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Mission and Business Strategy

Mission
HDFC Bank mission is to be "a World Class Indian Bank", benchmarking ourselves against international standards and best practices in terms of product offerings, technology, service levels, risk management and audit & compliance. The objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments, and to achieve a healthy growth in profitability, consistent with the Bank's risk appetite. We are committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance.

Business Strategy Business strategy emphasizes the following:

Increase market share in Indias expanding banking and financial services

industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service. Leverage our technology platform and open scale able systems to deliver more products to more customers and to control operating costs. Maintain current high standards for asset quality through disciplined credit risk management. Develop innovative products and services that attract the targeted customers and address inefficiencies in the Indian financial sector. Continue to develop products and services that reduce banks cost of funds

Focus on high earnings growth with low volatility.

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AWARDS WON BY HDFC BANK IN 2011-12 HDFC Bank declared Strongest Bank in Asia Pacific

MD received the Asian Banker Best Bank in India Award at a function on March 23, 2012 at Singapore. Mr. Puri is flanked by Mr. Emmanuel Daniel, CEO, The Asian Banker, on his right and Mr.Philippe Paillart, Chairman, Advisory Council.

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INTRODUCTION TO HOME LOANS OF HDFC BANK

HDFC HOME LOANS

It is important to choose a good housing finance company which can handhold the customer right through his home buying process. Since a home loan is a long term commitment of 15-20 years, several factors like expertise, quality of service, in-depth domain knowledge and the companys level of commitment and transparency right through, the loan procedures, the fine print, quality of services offered and safe retrieval of the title deed are critical. HDFC Bank brings HDFC home loans to your doorstep. Over 3 decades of exclusive experience, a dedicated team of experts and a complete package to meet all your housing finance needs, HDFC Home Loans, help you realize your dream. A new home brings with it new hopes, joys and emotions. At HDFC, they have shared new hopes, joys and emotions with over 39 Lakh customers. Every customer has a specific and unique concern. Having earned an experience of 34 years in home loans, their home loan product is customized to provide you solutions for your unique concern.

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HDFC-(Housing Development And Finance Corporation) Home Loan, India have been serving the people for around three decades and providing various housing loan according to their varied needs at attractive & reasonable interest rates. Owing to their wide network of financing, HDFC Housing Loans provides services at your doorstep and helps you find a home as per your requirements.

Features

1. Maximum loan- 80% of the cost of the property (including the cost of the land) and based
on the repayment capacity of the customer.

2. Maximum Term- The maximum period of repayment of a loan shall be up to 30 years

(Telescopic Repayment option) under the Adjustable Rate Home Loan product, depending upon the specific repayment scheme as may be opted (*).

The maximum period of a loan shall be up to 30 years under the Fixed Rate Home Loan product. Repayment will not ordinarily extend beyond your age of retirement if you are employed or on reaching 70 years of age, whichever is earlier. However, HDFC will endeavor to determine the repayment period to suit your convenience. (*) For more information, you are requested to visit HDFCs nearest office or Check our various repayment schemes

3. Applicant and Co- Applicant to the loan- Home Loans can be applied for either
individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co owners.

4. Adjustable Rate Home Loan- Loan under Adjustable Rate is linked to HDFC's Retail
Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*.

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If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest * Conditions Apply rate decreases.

Types of home loans

HDFC has many flexible repayment plans and offers additional security with Loan Cover Term Assurance Plan. The bank also enables you to go for automated repayments. The bank offers the following home loans products:

1. HDFC Home Improvement Loans: Everybody wants to improve the interiors of this
home. According to this tastes and preferences and sometimes it might be beyond his financial means. It also includes repairs and improvements like plumbing and electrical Works, flooring, grills, windows, walls, painting, insulation and waterproofing. The bank is ready to finance up to 85% of the cost of improvement.
o o o o o o o o o o

Purpose
External repairs Tiling and flooring Internal and external painting Plumbing and electrical work Waterproofing and roofing Grills and aluminum windows Waterproofing on terrace Construction of underground/overhead water tank Paving of compound wall (with stone/tile/etc.) Bore well

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Maximum loan- 80% of the cost of improvement. This is however subject to valuation of the
property as assessed by HDFC. Subject to market value of the property

Maximum Term- 15 years subject to your retirement age Applicant and Co- Applicant to the loan- Home Loans can be applied for either
individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co- owners.

Adjustable Rate Home Loan- Loan under Adjustable Rate is linked to HDFC's Retail
Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.

2. HDFC Home Purchase Loan: How about going for a hassle free purchase of your new
home? HDFC not only provides you loans while buying your new home at impressive rates but also provides you quality service during the loan procedures and safe retrieval of deed. A maximum of 80% of the total cost can be loaned by you and you can repay this loan within a maximum of 20 years based on your retirement age. You can get this HDFC home loan while purchasing a new house, bungalow or property and even old property. You will also be able to apply for these loans when you are buying property in an existing or proposed co-operative.

3. Home Extension Loans: HDFC gives you a unique opportunity to extend your home as
your family gets bigger. An extra bedroom or a well planned study for your little one or a comfy little addition to your own personal space to hang out with friends- your reasons for growing your dream home may be many.

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Apply to HDFC for meeting these needs. They will provide you with a maximum of 80% of the cost of extension after evaluating your property. 20 years is the maximum time period within which you can repay the loan based on your retirement age?

Purpose
HDFC Home Extension Loan makes it convenient for you to extend or add space to your home. Be it an additional room, a larger bathroom, or even enclosing an open balcony.

Maximum loan- 80% of the cost of extension. This is however subject to valuation of the
property as assessed by HDFC.

Maximum Term- 20 years subject to your retirement age Applicant and Co- Applicant to the loan- Home Loans can be applied for either
individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co- owners.

Adjustable Rate Home Loan- Loan under Adjustable Rate is linked to HDFC's Retail
Prime Lending Rate (RPLR). The rate on your loan will be revised every three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*. If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of term of the loan, and vice versa when the interest rate decreases.

4.Short Term Bridging Loans

HDFC Short Term Bridging Loans provides you with the much-needed finance during the interim period between the sale of your old home and the purchase of a new home.

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Features

Maximum loan- 80% of cost of new property. This is however subject to valuation of the
property as assessed by HDFC.

Maximum Term- 2 years Applicant and Co - Applicant to the loan- Home Loans can be applied for either
individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co-owners

5. Land Purchase Loan: HDFC will lend you a maximum of 80% of the cost of land which
can be reduced to 70% if the land is situated outside the boundaries of the city. The maximum time for the repayment of the loan is 15 years depending on the age of your retirement.

Loan cover Term Assurance Plan: HDFC also has an insurance plan to protect you
against the uncertainties of life, while making the repayments of your home loan. If the person assured passes away, then the lump-sum payment would be arranged through this assurance plan.

Automated Repayment of Home loan EMI: You can also arrange standing instruction
for your home loan repayments from your own HDFC bank account. It will save you from unnecessary hassles of remembering the due dates or signing the checks.

Customer privileges: If you are an existing mortgage customer of the bank, you can apply
for other low interest loans from HDFC, such as auto loans, loan against securities and personal loans.

Interest Rates: Asides from the financial concerns you have a lot of things in mind while
buying a new home.

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HDFC offers some of the most affordable rates to its customers. You can easily pay attention to the other aspects of your dream home once your finance related concerns are sorted.

About HDFC Bank India Home Loan Interest Rates

HDFC Bank India home loan rates are one of the most competitive rates available in the home loan market. The table given below will give you an idea about these rates: Wef : 6th Feb 2013 Loan Slabs Upto and including Rs 30 lacs Over Rs. 30 lacs Applicable Variable rates RPLR: 16.40% % Basis Spread RPLR - 6.25 RPLR - 6.00 : RPLR minus

( Monthly Rest Basis ) 10.15% 10.40%

The above rates are subject to change without notice.

TruFixed Home Loan

Under this product the customer has the option to choose a Fixed Interest Rate Period (FIRP) between 3 to 10 years. Post the fixed rate period the loan will automatically convert to a variable rate product. The customer also has the option, subject to our eligibility norms to take a complete fixed rate term product for a fixed term of 3 to 10 years. Or, he can avail a long term loan of 15 to 20 years with a part fixed and part floating for the entire tenor of the loan. The full disbursement of the loan, irrespective of the fixed period chosen, shall have been availed within the first 3 years from the date of first disbursement of the loan. Post the fixed rate period the interest rates applicable on the loan shall be the then applicable HDFC RPLR minus the spread as applicable currently on the loan amount being availed under this product.

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The applicable interest rates in the Fixed Interest Rate Period (FIRP) are linked to sanctioned loan amount and as per details given below:

Loan Slabs Upto and including Rs 10 lacs Rs.10.01 lacs to Rs.75 lacs Over Rs.75 lacs

Interest Rates during the Fixed Interest Rate Period ( % ) 10.75 11.00 11.25

How to apply for HDFC home loans

HDFC is known for its speedy approval of home loans. You can download an application form directly from its home site. It requires you to fill up your personal and employment details. You can even apply after visiting the nearest HDFC office in your city. You can apply for these loans individually or jointly.

HDFC Home loans- Process

Eligibility: Minimum two years of employment and minimum of a year in the present organization. The minimum age required for application is 21 years while the age of maturity is 60 years.

Documents required from self employed lenders

Last 3 years IT returns, balance sheet computation of income Application form with a recent photograph ID proof: Driving license, passport, employee license, photo credit card, voters ID card, pan card- anyone these will do Last six months bank statements Proof of residence: Utility bill (any), Savings and investment proofs

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Processing fee cheque Business profile for non professionals

Documents required from salaried lenders

Last three years Form 16 Last six months bank statements ID Proof Residence proof Processing fee cheque Savings and investment proofs Last three months salary slips

Advantages offered by HDFC Bank India home loans

Given below are some important advantages offered by HDFC home loans: 1. HDFC offers flexible loan repayments options like Step up Repayment Facility, Flexible Loan installments Plan; Tranche based EMI and Accelerated Repayment Structure. 2. Counseling and advisory services for acquiring a property. 3. Get instant home loan approval from HDFC without any wastage of time. 4. Get many home loan products and services like Home Loans, Home Improvement Loans, Home Extension Loans, and Loans to professionals for office or clinic, Home Equity Loans (Loan against property), short term Bridging Loan. 5. One can take loan from any branch of HDFC all over India for purchase of home. 6. Get the approval of loan even before the property is selected. 8. There are over 289 offices of HDFC all over India and also in Singapore, London, Dubai and franchises in Gulf Cooperation Council (GCC region). 9. HDFC ensures the availability of professional and empowered staff that can ensure customer satisfaction and smooth running of the offices. 10. The loan seekers can apply the loan online via Online Loan application facility.

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Work experience
I have my own desk in which I have a computer in which I have to work all day. Using this computer I can access the data's of all the customers who does have an account in our HDFC bank and also who don't have their account in our bank. My work is to call the selected customer and to sell Car loan. If anyone is interested in our scheme then I proceed with my work. In this way I successfully achieve my target at the end of the month. My co-workers with whom I have to work all day, they are very friendly in nature and always support me when I am in trouble. We use to celebrate our co-workers birthdays in our office. We sometimes went out for a picnic together. This small piece of happiness brings a lot of freshness to all of us.

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Machines And Technologies

HDFC Bank operates in a highly automated environment in terms of information technology and communication systems. All the bank's branches have online connectivity, which enables the bank to offer speedy funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs).

The Bank has made substantial efforts and investments in acquiring the best technology available internationally, to build the infrastructure for a world-class bank. In terms of core banking software, the Corporate Banking business and the Retail Banking business are supported by Flex cube, from Oracle Financial Services Software Limited. The systems are open, scalable and web-enabled.

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. In each of its businesses, the Bank has succeeded in leveraging its market position, expertise and technology to create a competitive advantage and build market share.

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