Deal4loans

HDFC | HDFC Bank | HDFC Ltd

bhavana — Wed, 10 Mar 2010 08:40:13 +0000

HDFC Bank was incorporated in August 1994, and, currently has a nationwide network of more than 1,725 Branches and 4,000 ATM’s in over 771 Indian towns and cities.

HDFC Bank and HDFC Ltd differ to each other. HDFC bank deals in all credit cards, Insurance and Lending services except Home Loan whereas HDFC ltd deals only in Home Loan.

HDFC bank Portfolio

Loans
Accounts and Deposits
Credit Cards
Debit Cards
Investment and Insurance
Forex and Trade services
Payment Services
Private Banking

Loan Products:

Haven’t you occasionally dreamt of buying a Dream Home, a car of your choice or even traveling abroad? Your dreams are now within your reach. Whatever your need, HDFC bank offers an entire range of loan products for you.

HDFC Bank has a Long List of Available Loan Products

Home Loan	Smart Draft	Loan against Rent Receivables
Personal Loan	Gold Loan	Tractor Loans
Two Wheeler Loan	Education Loan	Health Care Finance
New Car Loan	Loans against Securities	Commercial Vehicle Finance
Old Car Loan	Loans against Property	Construction Equipment Finance

Click on the links for Apply and Know more about:

Card Products:

Classic Cards

Special Benefit Cards

Premium Cards

Commercial Cards

Premium Cards:-

Gold Credit Card: – Get an HDFC Bank International Gold Card and get introduced to a whole new world of privileges.

Titanium Credit Card: – The HDFC Bank Titanium Credit Card is quite simply the most exclusive Credit card you could ask for. Find out all it can do for you. And you’ll never be satisfied with anything less.

Platinum Plus Credit Card: – India’s only Platinum Plus Credit Card offering exclusive benefits. It is the recognition of those who have “arrived in life”.

Visa Signature Credit Card: – HDFC Bank Visa Signature Credit Card, that grants you preferential access to services and benefits around the world. Customer cares representatives provide round-the-clock assistance to help you avail these benefits

World MasterCard Credit Card: – HDFC Bank presents the World MasterCard Credit Card – a very premium offering for the truly elite. A card with tailor-made premium privileges that complement a discerning lifestyle.

Investments and Insurance: -

Mutual Funds: – Mutual funds are funds that pool the money of several investors to invest in equity or debt markets. Mutual Funds could be Equity funds, Debt funds or balanced funds. Funds are selected on quantitative parameters like volatality, FAMA Model, risk adjusted returns, rolling return coupled with a qualitative analysis of fund performance and investment styles through regular interactions / due diligence processes with fund managers.

Systematic Investment Plan –The discipline and the tool

Systematic Investment Plan is an approach to investing within managed investments which involves investing a set of amount at regular intervals rather than investing a larger lump sum amount in one shot. By investing this way you are not attempting to capture the highs and lows of the market but rather the cost of your investment is averaged over a period of time. The essence of SIPs is that when the markets fall investors automatically acquire more units. Likewise they acquire lesser units when the market rises. This means that you buy less when the price is high whereas you buy more the price is low. Hence the average cost per unit drops down over a period of time.

Tax Planning: – HDFC Bank offer a number of advantageous tax saving investment options.

Insurance: – Life insurance is designed to offer financial protection for you and your family during the times of uncertainties. Choose from a range of traditional insurance and unit linked plans designed to help you with your savings, retirement, investment and protection needs.

General Insurance: – Complete protection for your home, travel & more.

Health Insurance: – Complete protection for your health.

Bonds: – A secure investment avenue giving you stable returns with tax benefits.

Equities & Derivatives: – Leverage our vast information repository and transact online.

Mudra Gold Bar: – Buy 24 Karat gold bars made in Switzerland and certified by Assay.

Haven’t you occasionally dreamt of buying a Dream Home, a car of your choice or even traveling abroad? Your dreams are now within your reach. Whatever your need, HDFC bank offers an entire range of loan products for you.

HDFC Bank has a Long List of Available Loan Products

You might find these relevant:

Fund improve for State Bank of India

bhavana — Wed, 10 Mar 2010 05:48:06 +0000

India’s biggest lender the SBI (State Bank of India), which is looking to lift as much as Rs 40,000 crore in the next 3 years, may have the government’s nod to explore American depositories as well as debt to shore up its capital base.

The government is the single largest shareholder in the firm at about 59 per cent.

The new fiscal will bring good tidings for SBI. The government is planning to help SBI raise big-ticket money to fund an aggressive credit growth of over 20 per cent. Although the mechanism of funds is yet to be decided, the government is waiting to hear from the SBI management on the exact quantum of funds to be raised.

Some time back, the SBI top brass had informally indicated a Rs 40,000 crore requirement over the next three fiscals.

In the meanwhile, the finance ministry has not ruled out bonds, preference capital or even an ADR or American depository receipt issue.

The finance ministry is hopeful of a decision sometime after the first quarter of the new fiscal.

In the meanwhile, finance minister Pranab Mukherjee has tabled the SBI Amendment Bill in Parliament through which the government proposes to pare its shareholding in the bank to 51 per cent.

However, banking secretary R Gopalan told NDTV that the finance ministry is working in the current framework of as things are.

With the government setting an internal credit growth target of at least 20 per cent for all public sector banks (PSBs) in the new fiscal, the clamour for more funds to fuel this growth will only get louder among government banks.

And particularly in the case of SBI, whose requirements are very high, to be made good via the government’s recapitalisation plan of Rs 16,500 crore announced in the budget.

You might find these relevant:

ABN Amro cuts credit cards Limit.

bhavana — Mon, 08 Mar 2010 06:39:51 +0000

ABN Amro India has cut the credit limit of some credit card customers to a tenth and raised the minimum amount payable to 7% of total dues from 5%, possibly to persuade them to surrender their Credit Cards as it draws closer to selling its retail operations to UK’s Hong Kong and Shanghai Banking Corp (HSBC).

ABN Amro, owned by UK’s troubled Royal Bank of Scotland, or RBS, has also decided to freeze fresh retail lending, including credit card and personal loans, to arrest a pile-up of bad loans, two people familiar with the matter told ET.
One of them, a senior bank executive, said even at the peak of the financial crisis, ABN Amro did not resort to such drastic cuts.

An ABN Amro spokesperson called the move a standard industry practice. “As a responsible lender, we review card limits and take appropriate action on an ongoing basis to protect our customers and manage risk,” she replied by email.

Although ABN Amro had no comment on the number of credit card users, a person familiar with ABN Amro’s operations said it has more than 4 lakh active credit card users. The bank’s strategy, he said, could be to discourage users and get them to give up their cards or reduce their credit exposure.

ABN Amro has been up against a large number of employee exits to competitors after the deal with HSBC came to light. It has also laid of some of its employees in the credit card and personal loan departments.

Currently, the bank has around 2,854 employees, down from 3,300 in early 2008. About 2,500 are in the retail and commercial banking department. It has another 8,500 in its two outsourcing arms.

You might find these relevant:

Increased interest rate chart

bhavana — Fri, 05 Mar 2010 11:49:14 +0000


Issuer Bank	Loan Category	Old Rate	New Rate	Change-Increase

HDFC Bank	HOME Loan	8.25% up to 31st March 2012 then floating rates	up to Rs.30 lac – 8.75%
			between Rs.30 to Rs.50 lac – 9%
			above Rs.50 lac – 9.25%
	CAR Loan		9-10.5%	50 basis points
ICICI Bank	HOME Loan	8.25% for first 2 yrs then floating rates	up to Rs.30 lac – 8.75%
			between Rs.30 to Rs.50 lac – 9%
			above Rs.50 lac – 9.5%
	CAR Loan	8.75-12.5%	9.75-11%	25-50 basis points
	PERSONAL Loan	18%	18.50%	50 basis points
Kotak Mahindra Bank	HOME Loan	7.99%	8.5-9%	51 basis points
	CAR Loan		for super premium cars – 9.25-9.75%	50-100 basis points
			for premium cars 10-10.25%
		10.5-11%	low end cars 10.75-11%
SBI	CAR/HOME Loan			NO CHANGE
IDBI Bank	HOME Loan	8.25% (Fixed for 2 years) ,Floating 8.75%		NO CHANGE
	CAR Loan	8.5% Floating		NO CHANGE
Bank of Baroda	CAR/HOME Loan			NO CHANGE

PNB	HOME Loan	9.75%		NO CHANGE

No change in rates for old customers
Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations.

You might find these relevant:

Private Sector Banks Hikes Home and Car Loan Rates by 25-50 bps

bhavana — Fri, 05 Mar 2010 05:30:34 +0000

HDFC Bank, ICICI Bank and Kotak Mahindra have raised rates on home and auto loans, reflecting the stiffening market that may lead to the Reserve Bank of India (RBI) hastening with a lift in its policy rates from record lows to fight inflation.

The country’s largest private sector lender, ICICI Bank, says it is going to charge 25 to 50 basis points more for auto loan and has discontinued its teaser offer on home loans.

In the same way, HDFC Bank has increased auto loan rates 25 to 50 basis points. Kotak Mahindra Bank has increased interest rates on auto and home loans by a parallel amount.

The new home loan rates came into effect from Monday along with the end in the teaser rate, which offered 8.25 per cent on loans of all values for the first year.

The new rates will be applicable to New or fresh loans.

HDFC, the largest credit lender, also decided not to extend its special fixed-cum-floating rate offer. ICICI Bank and HDFC Bank’s new auto loan rates, linked to the tenure and the segment, are effective Friday. For ICICI Bank, auto loans up to 35 months will now cost 9 to 13 %; loans for 36 to 60 months will cost 8.75 to 12.5 %. For HDFC Bank, the rates will be 7.5 to 15.5 %, depending on the tenure and vehicle segment.

ICICI Bank has also reworked the slabs, charging 8.75 % a year for loans up to Rs 30 lakh, instead of the earlier Rs 20 lakh ceiling.

For ICICI home loan between Rs 30 lakh and Rs 50 lakh, their rate has been revised to 9 % (from 9.25 % for loans between Rs 20 lakh and Rs 50 lakh) and loans above Rs 50 lakh will cost 9.5 % a year (from 9.75 %).

The increase in auto loan rates by private banks will provide a twin blow to car buyers, who already have to contend with an increase in prices following the government’s decision to increase excise duty 2 percentage points.

“It is a memorandum that interest rates will not go down further, they will only go up. But it (the increase) will only be to the extent to which we can protect our margins,” said Pralay Mondal, country head for retail assets and credit cards at HDFC Bank

Public sector banks, however, are expected to wait till the end of the month to review their retail lending rates.

A State Bank of India executive said that the country’s largest lender will review its home loan and auto loan rates at the end of the month. Its teaser rate offer is due to end on March 31. last week, SBI Chairman O P Bhatt had said interest rates were unlikely to go up till May-June.

You might find these relevant:

Standard chartered India operating profit up 19%

bhavana — Thu, 04 Mar 2010 04:49:52 +0000

With a outstanding income growth driven by a very strong performance in wholesale banking, partly offset by lower income in consumer banking, the Indian operations of Standard Chartered Bank a reported a 19 per cent increase in operating profit to $ 1.06 billion (Rs 4,886 cr) for 2009, compared to the last year

Excluding proceeds from the sale of the bank’s mutual fund recognised in the 2008 results, the growth in operating profit was 42 %.

Wholesale banking recorded a 49 % increase in operating profit to $ 1.06 billion from $ 674 million in 2008.

However, consumer banking saw a 24 % drop in operating profit to $ 54 million (Rs 248.4 cr) from $ 71 million in the previous year.

Impairments, which were mostly on the consumer banking side, grew 16 % to $ 182 million (Rs 837.2 cr).

Regional Chief Executive, India and South Asia , Neeraj Swaroop, said, “We have seen some increase in impairments in 2009 due to adverse global market conditions but we have not stopped lending and our credit growth is 10 per cent till December-end. We expect to achieve 10-20 per cent growth in 2010,”.

The bank’s net non-performing assets stood at 1.9 %, while gross NPAs stood at 2.9 % as on December 31, 2009.

Regional Chief Executive also said the bank has sought the Reserve Bank of India’s approval to open more branches, and said it would install 100 automated teller machines in 2010. “The bank is also looking to hire over 2,500 people this year.”

Click Here to Know More About :-

Standard Chartered Home Loan

Standard Chartered Personal Loan

You might find these relevant:

Base rate implementation extended

bhavana — Wed, 03 Mar 2010 10:04:46 +0000

Indian Banks’ Association (IBA) had asked Reserve Bank of India (RBI) to extend the implementation of base rate system (the new system to calculate the minimum lending rate for customers) from 1^st April to July 2010. Even RBI needs more time to calculate the rate.

A cost-based formula is used to calculate the base rate. This would definitely be lower than the prime lending rate (PLR) as banks can lend higher than this rate but not lower. The base rate of most PSU banks is expected to range between 8.5% and 9.5%, down from the present prime lending rate of 11.75 – 12.5%. RBI is very particular about the need of fairness for customers and transparency. Ms.Thorat said, “….when I opt for a floating rate, as a customer I believe that when policy rates go up you (a bank) would increase my rate, but when rates go down, the interest rate would decline even for existing customers (not just for new customers). The issue that is being taken up with banks (by RBI) is the asymmetry in rates for existing and new customers. I think this has to be sorted out.”

RBI is waiting for explanation from IBA as to reason for prolonged uneven distribution of floating rate benefit (to old customers). The old home loan customers have not yet received the benefit of lower home loan rates which were introduced last year by banks to entice new customers.

Ms.Thorat even said that banks ‘may pass on the burden to customers’ if the pre-payment penalty is done away with. A pre-payment penalty, varying between 1% and 3% among different lenders, is charged to a borrower who repays a loan ahead of the payment schedule. Her comment was in response to the Competition Commission’s concern that pre-payment penalty charged by banks on loans was preventing healthy competition in the system. Bankers disagree that there are chances of asset liability mismatch due to sudden increase in cash flow which would otherwise be due at a later date. But Ms.Thorat intervened that few lenders may charge very high pre-payment penalty to customers.

You might find these relevant:

Customer service standard should improve | RBI

bhavana — Fri, 26 Feb 2010 16:23:49 +0000

Reserve Bank of India (RBI) report has instructions for banks to improve the customer service. Even if it means that they have to reserve more capital to achieve it. RBI has been very specific about equitable distribution of the benefits of the teaser rate loans among new as well as the old home loan customers. Discrimination of rates between old and new customers in the same risk category is unacceptable by RBI.

The deputy governor said: “Banks should establish a basic standard of non-discriminatory pricing. This is based on the premise that ‘new’ customers cannot get preferential treatment over the ‘old’ customers if in the same risk category.” This is all because banks are offering cheap home loans to lure new customers while the old customers have to still pay higher rates.

The central bank introduced the Banking Ombudsman Scheme in 1995 to provide quick and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services. Bank ombudsmen received 69,117 complaints in 2008-09, (which is 44% more than 2007-08) out of which 9,433 complaints are still pending.

Even the credit card complaints have risen 74% in the financial year 2009. The report even said that RBI has issued general directions to all banks to protect customers. This is issued in interest of new applicants as well as the existing customers so they won’t have to approach their respective banks.

Out of 17,648 complaints 26% were pertaining to credit cards, that is, 74% increment since last year. But point to be noted is the user base of credit cards or number of credit card users has increased from 137.17 million to 170.03 million which is increase of 24%. RBI did ensure that increase in card usage meant need for better service an transparency at the time of sales by the banks.

You might find these relevant:

Guidelines favoring CREDIT CARD holders | RBI

bhavana — Fri, 26 Feb 2010 16:19:18 +0000

Good news for credit card users who have settled their dues but still have been in the bank’s central database blacklist. RBI is framing guidelines which will stop the banks from declaring an applicant as defaulter if he/she has squared their accounts (settled his/her account with the bank after payment of negotiated amount).

Currently, if a card holder has paid the negotiated amount, he/she is still treated as defaulter in bank’s records. This results in a poor credit score as the name will appear in the defaulters list prepared by Credit Information Bureau of India Ltd (CIBIL). This is so because they are dependent on the information furnished by banks.
This situation will make the person unfit to get his/her loans (be it personal, educational, house etc.) sanctioned as banks or other finance company disburse loans based on the information provided by CIBIL. This can become a vicious circle as the customer is asked to settle the new bill raised by the bank, which is the ‘balance amount’ from the earlier settlement plus penalties and interest.

Let us take a live example –>

Ms.A had to pay Rs.75,000 recently to clear her dues, which was already settled for 50% of the then outstanding amount of mere Rs.6,200 in 2001 !! She was forced to pay when her loan application was rejected by the bank because of her name in CIBIL’s defaulter list.

This is just one incident of the many that may happen but RBI is aware of the subject now and the central bank will propose a solution very soon. They are already conducting meeting with the banks and CIBIL regarding this issue. At present when the dues are settled, rest of the amount is treated as ‘written off’ by the banks.

Statistics show that in many cases banks demand a small leftover amount which is not acceptable for the customers. Usually it is the annual fee which the bank says it wouldn’t charge.

For example –>

Mr.Kapil who had a disputed bill of Rs.1000 raised by the bank was to settle his dues by paying Rs.500. But he continued to receive statements showing Rs.500 as outstanding which with time increased to Rs.1200 !!

Subsequently banks again offered to settle the due with a payment of Rs.600 (50% of due amount) and assured that they would issue an “all dues cleared” certificate on his payment. Kapil did pay to clear his name of any dues but he never did receive his certificate.

But the situation is showing signs of improving with the help of RBI’s intervention.

You might find these relevant:

BASE RATES – Components | Calculation | Need

bhavana — Fri, 26 Feb 2010 16:17:06 +0000

Reserve Bank of India (RBI) proposed the base rate system to replace the prime lending rate (PLR) for banks which takes effect from 1^st April to bring about more transparency in the lending operations. The base lending rate reflects the actual cost to banks that has to be covered through lending. PLR proved ineffective as banks disbursed loans at sub-PLR rates to their privileged customers.

RBI’s definition of base rate has 4 components

cost of deposits
negative carry on CRR and SLR
overheads cost and,
returns on net worth

The above formula and numbers for 2008-09 has resulted in computation of base rate for a set of banks. The base rate varies from 5.22% for Citi to 8.91% for OBC. Roughly speaking, foreign banks have the lowest rate followed by public sector banks and then private banks. Currently PLR is 11-12%, so the difference is of 3-7% points, which is noteworthy.

But the base rate calculation has been arrived excluding a provision for NPAs (Non-performing Assets). The ratio of gross NPA to total advances varies between 1% and 2% points for banks, which when included pushes the base rate between 6.5% and 11%.

It is difficult to fix the components as past profit ratio is not appropriate indication for future as each bank makes an effort to increase it. So is the case with the overhead costs, the SLR and CRR and the cost of deposits – as these are all variable.

The need for substitution of PLR is essential because banks sanction numerous loans at sub-PLR making the BPLR (benchmark prime lending rates) irrelevant. Housing loans are usually issued at sub-PLR while there are others which are fixed by RBI and linked to the PLR such as farm loans or export finance. Now final lending rate for customers will be the base rate, plus the risk-cost attached to the credit rating perception of the borrower by the bank.

You might find these relevant: