ST.

Xaviers College, Jaipur

Performance Analysis of HDFC bank

And customer awareness on home loans

Housing Development Finance Corporation Limited

PROJECT

S.No.
1
2
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Contents
Acknowledgement
Preface
Introduction of the project

ACKNOWLEDGEMENT
I would like to place my sincere thanks to all those Persons who helped me in completing my
project successfully. valuable time and expertise guidance at every step of my project.

Lastly I owe my project success to my parents who always motivated me throughout my project
& to my college Librarians, my seniors, friends for helping me in my project & thankful to all
the person, who directly or indirectly helped me in accomplishing my project.

PREFACE
Research work in management is extremely important for it gives a close
view of the real business world and bridges the gap between theory and
practical. For any BBM student who is striving to perform outstanding, it is of
paramount importance that apart from theoretical knowledge one must also
gain practical knowledge which in turn widely influences their conceptions
and perceptions.
undertaken by me is Performance analysis of India///////// best bank & study
On Home Loans. In this, I have tried to perform my best. In the forthcoming
pages an attempt has been made to present comprehensive report
concerning different aspects of project.

INTRODUCTION
Without a sound and effective banking system in India it cannot have a healthy economy. The
banking system of India should not only be hassle free but it should be able to meet new
challenges.
For the past three decades India's banking system has several outstanding achievements to its
credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or
cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of
the country. This is one of The Main reason of Indias growth process.
The government's regular policy for Indian bank since 1969 has paid rich dividends with the
nationalization of 14 major private banks of India.
Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or
for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient
bank transferred money from one branch to other in two days. Now it is simple as instant
messaging or dials a pizza. Money has become the order of the day.
The first bank in India, though conservative, is established in 1786. From 1786 till today, the
journey of Indian Banking System can be segregated into three distinct phases. They are as
mentioned below:

Early phase from 1786 to 1969 of Indian Banks

Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms.

New phase of Indian Banking System with the advent of Indian Financial & Banking Sector
Reforms after 1991 to make this write-up more explanatory, I prefix the scenario as phase I &
phase II, phase III.

COMPANY PROFILE
INTRODUCTION
'HDFC' - a household name that Indians proudly reckon with!
Housing Development Finance Corporation Limited, founded 1977 by Ravi Maurya and

Hasmukhbhai Parekh, is an Indian NBFC, focusing on home mortgages with the primary
objective of meeting a social need of encouraging home ownership by providing long-term
finance to households. Over the last three
decades, HDFC has turned the concept of housing finance for the growing middle class in India
into a world-class enterprise with excellent reputation for professionalism, integrity and
impeccable service.
A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than
3.5 million families to own a home of their own, through cumulative housing loan approvals of
over Rs. 2.98 trillion and disbursements of over Rs. 2.42 trillion as at March 31, 2010.
HDFC has a wide network of 283 offices (which includes 66 offices of HDFC's wholly owned
distribution company HDFC Sales Private Limited) catering to over 2,400 towns & cities spread
across the country. It also has offices in Dubai, London and Singapore and service associates in
the Middle East
region, to provide housing loans and property advisory services to Non Resident Indians (NRIs)
and Persons of Indian Origin (PIOs). HDFC's unrelenting focus on Corporate Governance, high
standards of ethics and clarity of vision, percolate through the organization. Trust, Integrity,
Transparency and Professional Service are the important pillars of the brand HDFC and most
Importantly, people - both employees and customers - are its brand ambassadors.
Customer satisfaction is the hallmark of all HDFC offerings. The first touch of HDFC's
personalized service begins as soon as a customer approaches HDFC, and over time it progresses
into a long and meaningful relationship. State-of-the-art information systems supported by strong
in-house training programmes conducted at its specialized training centre in Lonavla, have
equipped HDFC to respond swiftly to the ever-changing customer needs and thereby empower
customers in making the right home buying decision. This is what sets apart HDFC's customer
service philosophy - 'With You, Right Through'.

History
Housing Development Finance Corporation Limited, more popularly known as HDFC Bank Ltd,
is established in the year 1994, as a part of the liberalization of the Indian Banking Industry by
Reserve Bank of India (RBI). It is one of the first banks to receive an 'in principle' approval from
RBI, for setting up a bank in the private sector. The bank is incorporated with the name 'HDFC
Bank Limited', with its registered office in Mumbai. The following year, it started its operations
as a Scheduled Commercial Bank. Today, the bank boasts of as many as 1412 branches and over
3275 ATMs across India..

Capital Structure
At present, HDFC Bank boasts of an authorized capital of Rs 550 crore (Rs5.5 billion), of this
the paid-up amount is Rs 424.6 crore (Rs.4.2 billion). In terms of equity share, the HDFC Group
holds 19.4%. Foreign Institutional Investors (FIIs) have around 28% of the equity and about
17.6% is held by the ADS Depository (in respect of the bank's American Depository Shares
(ADS) Issue). The bank has about 570,000 shareholders. Its shares find a listing on the Stock
Exchange, Mumbai and National Stock Exchange, while its American Depository Shares are
listed on the New York Stock Exchange (NYSE), under the symbol 'HDB'.

BOARD COMMITTEE
The Board has constituted committees of Directors to take informed decisions in the best interest
of the Bank. These committees monitor the activities falling within their terms of reference.
Various committees of the Baord were reconstituted during the year due to resignation of Mr.
Bobby Parikh and induction of additional directors namely; Mr. C. M. Vasudev and
Mr.GautamDivan
The Board's Committees are as follows:
Audit and Compliance Committee
Compensation Committee
Investors' Grievance (SHARE) Committee

Risk Monitoring Committee

Credit Approval Committee
The Premises Committee
Nomination Committee
Fraud Monitoring Committee
Customer Service Committee

Audit and Compliance Committee: - The Audit and Compliance Committee of the Bank is
chaired by Mr. Arvind Pande. The other members of the Committee are Mr. Ashim Samanta, Mr.
C. M. Vasudev and Mr Gautam Divan. Mr. Bobby Parikh and Dr. V. R. Gadwal ceased to be
members of the Committee w. e. f. October 17, 2006 and March 14, 2007 respectively. Mr. C. M.
Vasudev and Mr. Gautam Divan were inducted as members of the Committee w.e.f. October 17,
2006. All the members of the Committee are independent directors and Mr. Gautam Divan is a
financial expert.
The

Committee

met

(nine)

times

during

the

year.

The terms of reference of the Audit Committee are in accordance with Clause 49 of the Listing
Agreement entered into with the Stock Exchanges in India, and interalia includes the following:
Overseeing the Bank's financial reporting process and ensuring correct, adequate and credible
disclosure of financial information;
Recommending appointment and removal of external auditors and fixing of their fees;
Reviewing with managment the annual financial statements before submission to the Board
with special emphasis on accounting policies and practices, compliance with accounting
standards and other legal requirements concerning financial statements;
Reviewing the adequacy of the Audit and Compliance functions, including their policies,
procedures, techniques and other regulatory requirements; and

Any other terms of reference as may be included from time to time in clause 49 of the listing
agreement. The Board has also adopted a charter for the audit committee in connection with
certain United States regulatory standards as the Bank's securities are also listed on New York
Stock Exchange.
Compensation Committee: - The Compensation Committee reviews the overall compensation
structure and policies of the Bank with a view to attract, retain and motivate employees, consider
grant of stock options to employees, reviewing compensation levels of the Bank's employees visa-vis other banks and industry in general.
The Bank's compensation policy is to provide a fair and consistent basis for motivating and
rewarding employees appropriately according to their job / role size, performance, contribution,
skill and competence.
Mr. Jagdish Capoor, Mr. Ashim Samanta and Mr. Gautam Divan are the members of the
Committee.
Mr. Bobby Parikh and Dr. V. R. Gadwal ceased to be members of the Committee w. e. f. October
17, 2006 and March 14, 2007 respectively. The Committee is chaired by Mr. Jagdish Capoor. All
the members of the Committee other than Mr. Capoor are independent directors.
The Committee met 3 (three) times during the year.
Investors' Grievance (SHARE) Committee: - The Committee approves and monitors transfer,
transmission, splitting and consolidation of shares and bonds and allotment of shares to the
employees pursuant to Employees Stock Option Scheme. The Committee also monitors redressal
of complaints from shareholders relating to transfer of shares, non-receipt of Annual Report,
dividends etc.
The Committee consists of Mr. Jagdish Capoor, Mr. Aditya Puri and Mr Gautam Divan. Mr.
Gautam Divan is inducted as member of the Committee w.e.f. October 17, 2006.
The Committee is chaired by Mr. Capoor and met 13 times during the year. The powers to
approve share transfers and dematerialisation requests have been delegated to executives of the
Bank to avoid delays that may arise due to non-availability of the members of the Committee.

As on March 31, 2007, 54 instruments of transfer representing 4571 shares were pending and
since then the same have been processed. The details of the transfers are reported to the Board of
Directors from time to time.
During the year, the Bank received 206 complaints from shareholders, which have been attended
to.
Risk Monitoring Committee: - The committee has been formed as per the guidelines of Reserve
Bank of India on the Asset Liability Management / Risk Management Systems. The Committee
develops Bank's credit and market risk policies and procedures, verify adherence to various risk
parameters and prudential limits for treasury operations and reviews its risk monitoring system.
The committee also ensures that the Bank's credit exposure to any one group or industry does not
exceed the internally set limits and that the risk is prudentially diversified.
The Committee consists of Mrs. Renu Karnad, Mr. Aditya Puri and Mr. C. M. Vasudev and is
chaired by Mrs. Renu Karnad. Mr. Bobby Parikh ceased to be member of the Committee w.e.f.
October 17, 2006 and Mrs. Renu Karnad is inducted as Chairperson of the Committee on
October 17, 2006.
The Committee met 6 (six) times during the year.
Credit Approval Committee: -

The Credit Approval Committee approves credit exposures,

which are beyond the powers delegated to executives of the Bank. This facilitates quick response
to the needs of the customers and speedy disbursement of loans.
The Committee consists of Mr. Jagdish Capoor, Mr. Aditya Puri, Mr. Keki Mistry and Mr
Gautam Divan. The Committee is chaired by Mr. Capoor. The Committee met 2 (two) times
during the year.
The Premises Committee: -

The Premises Committee approves purchases and leasing of

premises for the use of Bank's branches, back offices, ATMs and residence of executives in
accordance with the guidelines laid down by the Board. The committee consists of Mr. Aditya
Puri, Mr. Ashim Samanta and Mrs. Renu Karnad. Dr. V. R. Gadwal ceased to be member and
chairman of the Committee w. e. f. March 14, 2007.

The Committee is chaired by Mrs. Renu Karnad.

The Committee met 3 (three) times during the year.
Nomination Committee: -

The Bank has constituted a Nomination Committee for

recommending the appointment of independent / non-executive directors on the Board of the

Bank. The Nomination Committee scrutinises the nominations for independent / non-executive
directors with reference to their qualifications and experience. For identifying 'Fit and Proper'
persons, the Committee adopts the following criteria to assess competency of the persons
nominated: Corporate Governance HDFC Bank Limited Annual Report 2006-07
For assessing the integrity and suitability, features like criminal records, financial position, civil
actions undertaken to pursue personal debts, refusal of admission to and expulsion from
professional bodies, sanctions applied by regulators or similar bodies and previous questionable
business practice are considered.
The members of the Committee are Mr. Arvind Pande and Mr. Ashim Samanta. Dr. V. R. Gadwal
ceased to be member of the committee w.e.f. March 14, 2007. All the members of the Committee
are Independent directors.
The Committee met 3 (three) times during the year

Fraud Monitoring Committee:- Pursuant to the directions of the Reserve Bank of India, the Bank
has constituted a Fraud Monitoring Committee, exclusively dedicated to the monitoring and
following up of cases of fraud involving amounts of Rs.1 crore and above. The objective of this
Committee is the effective detection of frauds and immediate reporting thereof to regulatory and
enforcement agencies and actions taken against the perpetrators of fraud.
The terms of reference of the Committee are as under:
1. Identify the systemic lacunae, if any, that facilitated perpetration of the fraud and put
in place measures to plug the same;
2. Identify the reasons for delay in detection, if any, reporting to top management of the
Bank and RBI;

3. Monitor progress of CBI / Police Investigation and recovery position;

4. Ensure that staff accountability is examined at all levels in all the cases of frauds and
staff side action, if required, is completed quickly without loss of time.
5. Review the efficacy of the remedial action taken to prevent

recurrence of frauds,

such as strengthening of internal controls.

6. Put in place other measures as may be considered relevant to strengthen preventive
measures against frauds.
The members of the Committee are Mr. Jagdish Capoor, Mr. Aditya Puri, Mr. Keki Mistry
and Mr.

Arvind Pande. Mr. Bobby Parikh has ceased to be member of the Committee w.

e. f. 17th October, 2006.

The Committee is chaired by Mr. Capoor and met 3 (three) times during the year.

Customer Service Committee:- The Committee monitors the quality of services rendered to the
customers and also ensures implementation of directives received from RBI in this regard. The
terms of reference of the Committee are to formulate comprehensive deposit policy incorporating
the issues arising out of death of a depositor for operations of his account, the product approval
process, the annual survey of depositor satisfaction and the triennial audit of such services.
The members of the Committee are Mr. Keki Mistry and Mr. Arvind Pande. Dr. Venkat Rao
Gadwal ceased to be member of the Committee w. e. f. March 14, 2007.
The Committee met 4 (four) times during the year.

Awards & Accolades 2013

1. Best CFO in the financial sector for 2010 by ICAI. (Feb '11) - Mr. VS Rangan,
Executive Director , HDFC has been awarded the "Best CFO in the financial sector" for
2010 by ICAI.
2. Verve Power List 2010 (June '10) - Ms. Renu Sud Karnad featured in Verve
magazines list of 50 power women.
3. Finance Asia's List of Asia's Best Managed Companies (April '10) - HDFC
featured in Finance Asia magazines list of Asias Best Managed Companies.
4. ET - Corporate Dossier List of India Inc's Most Powerful Women leaders

(Apr '10) - Ms. Renu Sud Karnad featured among the list of top 15 powerful women
CEOs.
5. Reader's Digest India's Most Trusted 2009 (Mar '10) - Mr. Deepak Parekh
voted among India's Most Trusted by people across India in a poll conducted by Reader's
Digest on a list of 100 public figures.
6. India Today Power List 2010 (Mar '10) - Mr. Deepak Parekh featured in India
Todays list of 50 Power People.
7. Times of India Crest List of 100 Powerful Women (Mar '10) - Ms. Renu Sud
Karnad featured in the business category among the List of 100 Powerful Women by TOI
Crest.

Type of products offered in HDFC

1. HOME LOAN

A new home brings with it new hopes, joys and emotions. At HDFC, we have shared new hopes,
joys and emotions with over 32 Lakh customers. Every customer has a specific and unique
concern. Having earned an experience of 30 years in home loans, Our home loan product is
customised to provide you solutions for your unique concern.

Features

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

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 coowners.

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. LAP- LOAN AGAINST PROPERTY

HDFC Home Equity Loans helps you encash the present market value of the property by taking a
loan by mortgaging the property.
Features of Loan Against Property
Purpose
Loan can be for any purpose. However, the funds should not be used for speculation or any
illegal purposes.
Customers have benefited by taking loans to meet the following funding requirements

Education
Marriage Expenses
Medical Expenses
Property
Residential
Non Residential
- Should be Fully Constructed
- Should be a Freehold property having a clear and marketable title.

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
equity 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.

Maximum Loan
Existing Customers
- Balance of 60% of the market value and present loan outstanding
New Customers
- 50% of the market value of the property (including the cost of the land)
Subject to
- Minimum Market Value of the property being
Rs.5,00,000 for Residential property and Rs.7.50 Lacs for
Non Residential Property
- Repayment Capacity of the customer

Maximum Term
Property Type

Repayment Option

No. of Years*

Residential
Non Residential
Residential and Non

EMI Based
EMI Based
Simple Interest

15
15
2

Residential
* Subject to retirement age of the customer

Wef : 16th May 2013

RPLR: 16.00

Applicable Rates
(Monthly Rest Basis)

Fixed
rates%

Variable
rates%

Basis%

Upto Rs. 1 cr
Rs. 1.01 cr and above

13.25
13.25

12.75
12.50

RPLR - 3.25%
RPLR - 3.50%

The above rates are subject to change without notice.

3. Individual Fixed Deposits & Variable Deposits

HDFC has instituted well-defined service standards for both depositors and deposit agents.
HDFC has been able to mobilize deposits from over 10 lac depositors. Outstanding deposits
grew from Rs. 1,458 crores in March 1994 to Rs 23,081 crores in March 2010. Much of this
success can be attributed to its strong brand image, superior services, security and above all, the
significant contribution made by HDFC's deposit agents. HDFC has over 15,000 deposit agents
and distributes all its retail savings (deposit) products primarily through this channel.
HDFC has been awarded "AAA" rating for its deposits from both CRISIL and ICRA for the
SIXTEENTH consecutive year, representing highest safety as regards timely payment of
principal and interest.

Benefits of HDFC's Individual Fixed Deposits & Variable Deposits

Highest Safety
Tax Benefits
Attractive Returns
Quick Loan Facility
Nomination Facility
Demand Draft Facility
High Service Standards
Electronic Clearing Service

INTRODUCTION
Credit appraisal is one of the most important and significant step in the Home Loan process. In
case of home loans we either create new accounts or maintain pre existing ones. Credit appraisal
is however a part of sanctioning new loans or enhancing the existing one Credit Appraisal starts
from the moment you take the documents from customer for Loan, which is then sent to back
office for processing which is called HUB .In case of India Habitat Centre it refers to the well
recognized HDFC Regional office at Munirka.

CATEGORIES
In case of Credit Appraisal there are three main categories1. SALARIED PERSON
Here the Credit Appraisal is done for a salaried person .We try to compute the credit worthiness
of a salaried person .By saying that we mean that the person is employed as an employee in a
recognized organization. The organization may be public or private. The person must have proof
to prove his employment like credit documents etc.

2. SELF EMPLOYED PERSON

The nature of Credit Appraisal done for a self employed applicant is slightly more complex and
dicey. This is due to the presence of enormous bank statements as well as transactions involved
in business. As conducting Business in modern times is a capital intensive process the bank
statements of self employed persons are large and much more complex. The statement runs into a
large number of pages due to the multiple number of transactions. Apart from that their income
statements are also quite complex due to presence of many components. Hence in the case of a
self employed person demanding a loan the credit appraisal has to be done very carefully .For
this very purpose HDFC Ltd has appointed Specialized Credit Appraisers and a specialized Self
employed Committee. These consist mainly of Chartered Accountants. They handle the
important job of appraising the credit worthiness of the self employed applicants.

3) SELF EMPLOYED PROFFESSIONAL

The self employed professionals include people like Doctors, Chartered accountants, Engineers
etc. Only HDFC recognizes these professionals as a separate category and has hence developed a
comparatively smoother procedure for their Credit Appraisal and sanctioning of loan.

Market Analysis of Company

HDFC has always been market-oriented and dynamic with respect to resource mobilization as
well as its lending programme. This renders it more than capable to meet the new challenges that
have emerged. Over the years, HDFC has developed a vast client base of borrowers, depositors,
shareholders and agents, and it hopes to capitalized on this loyal and satisfied client base for
future growth. Internal systems have been developed to be robust and agile to take into account
changes in volatile external environment.
HDFC has developed a network of institutions through partnerships with some of the best
institutions in the world, for providing specialized financial services. Each institution is being
fine-tuned for a specific market, while offering the entire HDFC customer base the highest
standards of quality in product design, facilities and service.

HDFC HOME LOAN PRODUCTS

1) Home Loan
2) Home Improvement Loan
3) Home Extension Loan
4) Land purchase loan
5) Short Term Bridging Loan
6) Loan to Professionals for Non Residential Premises
7) Home Equity Loan

HOME LOAN
HDFC offers loans to individuals to purchase (fresh/resale) or construct houses. Home loan be
applied individually or jointly. Proposed owner of the property will have to be co-applicants.
However the co-applicants need not to be the co-owners.
PURPOSE
1. Purchase of flat, row house, bungalow from developers.
2. Existing freehold properties.
3. Property in an existing or proposed cooperative society or apartment.
4. Self construction.

MAXIMUM LOAN
85% of the cost of property (including the cost of land) and based on the repayment capacity of
the customers.

MAXIMUM TERM
20 years subject to the retirement age.

ELIGIBILITY

Salaried employees
Self employed professionals
Self employed businessman
Applicants can either be Resident or Non-Resident
Age of the applicant should not be more than 65 years

HOME IMPROVEMENT LOAN

Home improvement loan facilitates internal and external repairs and other structural
improvements like paintings, water proofing, plumbing and electric works, tilling and flooring,
grills and aluminum windows.

PURPOSE

External repairs Tilling & flooring

Internal & external flooring Waterproofing and roofing
Plumbing & electric work Grills & aluminium windows
Construction of underground/ upper water tank
Paving of compound walls (with stone/tiles etc)
Bore well Waterproofing on terrace

`MAXIMUM LOANS

For Existing customers : 100% of the cost of improvement

For New customers : 85% of the cost of improvement

MAXIMUM TERM
15 years subject to retirement age.

HOME EXTENSION LOAN

Home extension loan facilitates the extension of an existing dwelling unit. This type of loan
makes it convenient to extend or add space to home.

PURPOSE
This loan is specifically for the extension purpose. Be it an additional room, a larger bathroom or
even enclosing an open balcony.

MAXIMUM LOAN
85% of the cost of extention.

MAXIMUM TERM
20 years subject to retirement age.

LAND PURCHASE LOAN

PURPOSE
HDFC Land purchase loan is a convenient loan facility to purchase land, whether it be to build a
house or an investment.

MAXIMUM LOAN
85% of cost of land and based upon the repayment capacity of the customer.

MAXIMUM TERM
15 years subject to customer retirement age.

SHORT TERM BRIDGING LOAN

PURPOSE
Short Term Bridging loan makes customer realize their dreams of buying a bigger and better
home and give them time to sell their existing property to pay off the loan. This is a short term
loan to help customers with the interim period between the sale of their old homes and the
purchase of a new home. Customers repay the loan by paying monthly installment or interest on
the loan with the lump sum payments within 2 years. Hence customers gets 2 years to sell the
property repay the loan.

MAXIMUM LOAN
90% of the cost of new property

MAXIMUM TERM
2 years

LOAN TO PROFESSIONALS FOR NON RESIDENTIAL PREMISES

This loan facilitates professional to purchase and construct their own office premises or even
renovate their existing office premises.

PURPOSE
Purchase
Construction
Improvement of office

MAXIMUM LOAN
85% of the cost of property

MAXIMUM TERM
15 years subject to customer retirement age.

KIDS ADVANTAGE ACCOUNTS

Start saving for your child today and secure his/her future. Open a Savings Account and transfer
money every month into his/her Kids Advantage Account. Watch the savings grow as your child
grows. The accumulated savings in the Kids Advantage Account can over the years help in
meeting your child's needs.

Features & Benefits

Builds up savings for your child's future.

Automatically increases the balance in your Kids Advantage Account by transferring a
fixed sum from your Savings Account every month.
Amounts in excess of Rs. 5,000/- over and above a balance of Rs. 10,000/- gets
converted into Fixed Deposits for a specified period in your child's name.
Free International Debit Card for your child (above 7 years of age) with a maximum
drawing capability of Rs. 2,500/- per day.
Free Education Insurance cover of up to Rs. 1,00,000/- for your child with every Kids
Advantage Account.
Net Banking facility to monitor both, your Savings Account as well as your Kids
Advantage Account.
Free Funds Transfer between your Savings Account and your Kids Advantage
Account.
Opt for systematic Investment in Mutual Funds to plan for your childs future.

Free InstaAlerts for all account holders for lifetime of the account.
Free Passbook facility available at home branch for account holders (individuals).
Free Email Statement facility .

You can open a Kids Advantage Account as long as your child is a minor and you have
a Savings Account with us.
If you do not have a HDFC Savings Account, you will need to open an account.