hdfc report project

8/14/2019 Hdfc Report Project

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A Project Report On

Customers Perception Towards The

Products and Services Offered by HDFC

Bank And Comparative Analysis

By

(RAJEEV KUMAR)

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DAV INSTITUTE OF

MANAGEMENT

A REPORT ON

Customers Perception Towards The Products and

Services Offered by HDFC Bank And Comparative

Analysis

BY

By

(RAJEEV KUMAR)

DAV INSTITUTE OF

MANAGEMENT

Under the guidance of

Mr. D. Gopala Krishna (Branch Manager, HDFC Bank, NOIDA )&

DR. sunita bishnoi (DAV institute of management)

During the Academic Year (2007-2010)

A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE

REQUIREMENT OF BBA(BE) PROGRAMME OF DAV INSTITUTE OF

MANAGEMENT

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ACKNOWLEDGEMENT

It is our duty to acknowledge with gratitude the generous help that I have received from Mr. D.

Gopala Krishna Branch manager, HDFC BANK LTD.We have had the advantages of his

critical advice from his profound knowledge in Marketing (sales). He has indeed taken personal

interest in preparing an innovative Report on Customers Perception Towards The Products

and Services Offered by HDFC Bank And Comparative Analysis He has helped us a lot in

preparing the questionnaire.

I also want to thankMr. E.Dheeraj who is the Relationship Manager-Corporate Salary of this

branch, my company guide for his enduring patience, valuable guidance and constant

encouragement during the course of project work.

Special thanks to Deputy Manager Mr Aswin Nayak He helped me in every step when I

required.

My sincere thanks are due to all the officers of HDFC Bank for their worthy help and

cooperation.

Finally, its my pleasure to acknowledge the kind help and cooperation of all the respondents of

NOIDA with whom I met throughout the duration of this project.

Head Of The Organization Mr. Gopala Krishna Branch manager, HDFC BANK

LTD.

K-Block,

Sector 18,

Noida - 201301

Uttar Pradesh

Tel 0120-4664301 / 328 / 335 /336

Fax 0120 - 2514534

Company Guide - Mr. E.Dheeraj-Relationship Manager-Corporate Salary

Faculty Guide Dr. Sunita Bishnoi

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(RAJEEV KUMAR)

DECLARATION

I hereby declare that this project report entitled as CUSTOMERS PERCEPTION

TOWARDS THE PRODUCTS AND SERVICES OFFERED BY HDFC BANK &

COMPARATIVE ANALYSIS, submitted to, DAV Institute of Management, AU in partial

fulfillment of the requirement of BBA (BE) is a bonfire work done by me and it was not

submitted to any other university or institution previously.

(RAJEEV KUMAR)

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EXECUTIVE SUMMARY

The bases of the project was to understand the customers perception about the various schemes

like Personal loans, Home loans, Car loans under asset products and saving bank account,

Current account and Salary account under liability products for retail banking.

The project also encompasses, identifies the scope and various parameters, a customer would

look into while transacting with bank for certain scheme.

Overall analysis has been done, keeping in mind the various customer segments like

businessmen, salaried people, students and others, consideration while opting for any deposits or

borrowings.

The SWOT analysis shows the pitfalls and identifies the opportunities available for HDFC

Bank and competitor analysis has been done by considering four other close competing

commercial banks like ICICI, SBI, UTI, IDBI banks at noida, analysis has been done by taking

the profitability and performance indicator, it says there are several potentials available for

HDFC bank to be the market favorite. After the analysis it is found that the major part of the

deposits from HDFC Bank, Noida is formed by businessmen followed by salaried people and

professionals and its nearest competitors are ICICI Bank & SBI.

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CONTENTS

SI.NO DESCRIPTION PAGE NO

1 Introduction to HDFC Bank 1

2 Products & Services 32

Personal Banking 33

NRI Banking 53

Wholesale Banking 53

3 Market Research

Problem Definition & Objectives 59

Research Methodology 59

Data Analysis & Observation 61

Recommendations & Limitations 81

4 SWOT Analysis 84

5 A Comparative Study Among the Emerging 88

Commercial Banks

6 Conclusion 91

7 Bibliography 93

8 Annexure 94

Questionnaire 95

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7

Introduction to HDFC Bank..


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HDFC BANK

HDFC Bank was amongst the first to receive an 'in-principle' approval from the Reserve Bank of

India (RBI) to set up a bank in the private sector from Housing Development Finance

Corporation Limited (HDFC), in 1994 during the period of liberalization of the banking sector

in India. HDFC India was incorporated in August 1994 in the name of 'HDFC Bank Limited'.

HDFC Bank , one amongst the firsts of the new generation, tech-savvy commercial banks of

India, was set up in august 1994 after the Reserve Bank of India allowed setting up of Banks in

the private sector

.

The Bank was promoted by the Housing Development Finance Corporation Limited, a

premier housing finance company (set up in 1977) of India. Net Profit for the year ended

March 31, 2007 was up Rs. 1,141.5 crores, up 31.1%. Headquartered in Mumbai,

HDFC Bank has a network of over 684 branches spread over 316 cities across India. All

branches are linked on an online real-time basis. Customers in over 120 locations are serviced

through Telephone Banking. The Bank also has a network of about over 1605 networked ATMs

across these cities.

History of the company

1994

The Bank was Incorporated on 30th August. A new private sector Bank promoted by

housing Development Corporation Ltd. (HDFC), a premier housing finance company. The bankis the first of its kind to receive an in-principle approval from the RBI for establishment of a

bank in the private sector. Certificate of Commencement of Business was received on 10th

October 1994 from RBI.

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- The Bank transacts both traditional commercial banking as well as investment banking. HDFC,

the promoter of the bank has entered into an agreement with National Westminister Bank Pc. and

its subsidiaries (Natwest Group) for subscribing 20% of the banks issued capital and providing

technical assistance in relation to the banks proposed banking business.

1995

70 No. of equity shares issued to subscribers to the Memorandum & Articles of Association on

30th August 1994. On the same date 500,00,000 equity shares were allotted to HDFC promoters.

509,20,000 shares were allotted to HDFC Employees Welfare Trust and HDFC Bank Employees

Welfare Trust on 22nd December, 1994.

- On 16.1.1995, 90,79,930 No. of equity shares were allotted to Jarrington Pvt. Ltd. Another

400,00,000 equity shares were allotted on private placement basis to Nat west Group on

9.5.1995. 500,00,000 shares were allotted to the public on 9.5.95 (all were taken up).

- The Bank opened its first branch in Ramon House at Church gate, Mumbai on January 16th.

- The Bank has created an efficient operating system using well tested state-of-the-art software.

1996

- HDFC Bank has entered the banking consortia of over 50 corporates, including some leading

multinational companies, flagship companies of local business houses and strong public sector

companies.

- HDFC Bank has set up a state-of-the-art dealing room to handle all transactions possible in

Indian financial markets.

- The Certificates of Deposits were awarded a PP1+ rating which is the highest rating for short

term instruments indicating superior capacity for repayment.

1997

- The bank is one of the largest mobilisers of retail deposits through its network of 20 branches.

Its credit deposits ratio was 53.8%.

- The bank has set up a ultra-modern hub at Powai in Mumbai where the bank's central computer

is housed. This hub housed in 35,000 square feet of space, houses data of all the branches and

facilitates the introduction of new products and services.

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- HDFC has installed state-of-the-art systems to facilitate inter-connectivity between branches

and link up with on line system.

- The bank has also recently signed up as a depository participant, under the newly set up NSDL,

wherein the members clearing accounts settlement for dematerialized shares can be done through

the bank.

- HDFC Bank, one of the nine new-generation private sector banks, has planned to set up an all-

India on-line automated teller machine (ATM) network.

- HDFC Bank proposed to launch tele-banking for the first time in June in Mumbai at its

Chandiveli branch.

- HDFC Bank has drawn up plans to become a niche player in corporate banking by sticking to

top-rung corporate.

- HDFC Bank has become the first private sector bank to conclude a structured interest rate

option deal.

- HDFC Bank has launched its Versova branch, the 11th branch in Mumbai.

- HDFC Bank, as part of its expansion plans in the South, has opened another branch in Chennai.

- HDFC Bank has entered into strategic alliances with 10 overseas banks to provide customers

with a wide range of derivatives including interest rate and foreign currency swaps.

- HDFC Bank on October 14 introduced ATMs that converse in a regional language.

- HDFC Bank has introduced the Freedom Account for the average retail customer located in the

major metros as a means to wean away the middle-income market from nationalised banks.

- HDFC Bank has launched an account in all its 28 branches across India that seeks to free

depositors from minimum balance requirement, for the first time in the country.

- HDFC has introduced a new loan product for the payment of betterment fees announced by the

Bangalore Mahanagar Palike. - HDFC Bank is all set to launch its debit card by April 1998.

1998

- HDFC Bank has tied up with the Ahmedabad Stock Exchange (ASE) to act as its clearing bank.

- HDFC Bank proposes to strengthen its branch network in Calcutta with the addition of two new

branches in the first quarter of the next fiscal.

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- HDFC Bank has signed an agreement with the National Stock Exchange (NSE) which will give

it a second charge over the brokers deposit for providing loan against share facility to NSE

brokers.

- The bank has also entered into a similar understanding with the Bombay Stock Exchange

(BSE) whereby the bourse will provide support for recovery of money against the card for loan

against share facility.

- The bank has also entered into `Cirrus' arrangements by which all master card holders across

the globe will be able to transact at HDFC Bank in India.

- The bank will also provide phone-banking facility in Bangalore. HDFC has tied up with Visa

International to offer its Debit Card. - HDFC Bank Ltd has entered into a memorandum of

understanding for a strategic business collaboration with Chase Manhattan Bank.

- HDFC Bank has become the first bank in India to link up its automated teller machine (ATM)

network with all the three major payment systems world-wide.

- HDFC Bank will be the first bank in the Asia-Pacific region to connect the American Express

(Amex) payment system.

- The HDFC Bank is expanding its ATM network to connect to American Express Interchange

based in Phoenix, Arizona, USA. With this connectivity, HDFC Bank has become the first bank

in the Asia-pacific region to connect to the Amex Interchange.

- HDFC Bank was the first to sign up with AMEX in December of 1998.

- The Bank has tied up with ITC Thread needle Mutual Fund to provide its investors with the

High Interest Fund (HIF), a facility to en cash their units through the bank's Automated Teller

Machines in addition to a cheque book facility also to be provided by the bank.

- Sony India Ltd (SIL) has joined hands with HDFC Bank to work out an innovative car finance

package under which a Sony car audio system would be installed to a new car for no additional

upfront cash outflow.

- The bank has decided to issue 1,33,10,000 equity shares of Rs. 10 each to HDFC and a wholly-

owned subsidiary of it at a price of Rs. 94 per share.

- The bank will also issue 13,70,000 equity shares to India Private Equity Fund and 51,20,000

shares to Indocean Financial Holding, the two equity funds controlled by Chase Manhattan

Bank.

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12/98

- HDFC Bank, has tied up with BPL Ltd to offer Internet-enabled supply-chain management and

business-to-consumer (B2C) e-commerce services to corporate.

- Hutchison Max Telecom and HDFC Bank introduced the country's first-ever mobile-banking

services in the city.

2000

HDFC Bank also signed a memorandum of understanding with Singapore Telecom's e-

commerce arm Sesami.Com Pvt Ltd. - The Bank latter also entered into a partnership agreement

with National Computer Systems, the e-commerce unit of Singtel.

- A new company called SESAMi.com (India) has been formed by a strategic alliance between

HDFC Bank and Singapore Telecom's e-commerce company SESAMi.com, to offer e-commerce

solutions for the Indian market.

- HDFC Bank has a tie-up with Maxtouch for giving the facility to the latter's customers in

Mumbai. This is the first and only service of this sort in the country, he said.

- HDFC Bank is also launching an online electronic banking solution called Enet which will

allow corporate to access their accounts over the net and carry out trade related transactions and

cash management functions.

- HDFC Bank entered into a tie-up with Telco by which the bank would provide preferential

financing options for Tata's range of passenger cars including the Indica, Sumo, Safari, Estate

and Sierra.

- HDFC Bank allotted 1.98 crore shares of Rs 10 each at an issue price of Rs 94 per share to

promoters and strategic investors on March 29.

- HDFC Bank is also set to become the first bank in the country to offer wireless application

protocol (WAP) services to customers.

Sky Cell Communications Ltd, one of the two cellular service providers in Chennai, has

launched `Sky Banking', for which the company has tied up with ICICI Bank and HDFC Bank.

- The bank has tied up with 12 utility companies nationwide including BSES, MSEB, BEST,

Orange, BPL and MTNL.

- The Bank has tied up with financial portals, e-brokerages and the National Stock Exchange to

enable broker payments for e-broking ventures. - The Bank has set up 100 new electronic data

capture (EDC) terminals in Mumbai. - HDFC Bank has launched its first B2C payment gateway

which allows Visa and MasterCard credit card-holders to do transaction online and real time. -

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CYBERITMALL.COM has joined hands with HDFC Bank to provide VISA/MasterCard users

with an online payment gateway solution to enable them to have a secure shopping experience. -

HDFC Bank plans to extend its mobile phone banking services introduced in select metros to

mobile phone broking when it introduces its Internet on-line trading in July. - HDFC Bank and

portal clickforsteel.com have signed a memorandum of understanding for offering online credit

and services to facilitate `post transaction' activities through the portal's `allied services

providers' programme. - Indianfoline.com signed an agreement with HDFC bank for the use of

payment gateway to enable online financial transactions.

- HDFC Bank, in association with cellular service provider Orange, has launched the entire range

of mobile banking services and mobile commerce services using wireless application protocol

(WAP) technology.

- The Company has introduced a new scheme whereby it will provide loans to individuals for

payment of self assessment tax on their properties in Bangalore.

- The Foreign Investment Promotion Board has cleared the proposal of the HDFC Group to enter

into a joint venture with Singapore Telecom's e-commerce company for providing a

comprehensive range of business-to-business e-commerce solutions to companies in India.

- The Company proposes to pick up an equity stake in Softcell Trade and Technologies Ltd., a

Mumbai-based software company.

- BPL Mobile has tied up with HDFC Bank to offer Internet banking through the mobile phone.

- HDFC Bank launched `Instant Car Loans' a new scheme for offering customers a range of net-

enabled loan products.

- HDFC Bank launched depository services on the net.

- HDFC Bank tied up with NSE.IT, a wholly owned subsidiary of the National Stock Exchange,

for providing payment gateway services for the latter's Internet trading operations.

- HDFC Bank has been identified as the best domestic commercial bank for the second

consecutive year by FinanceAsia.com, which provides a network for financial decision makers.

- The Mumbai-based Geojit Securities Ltd. has tied up with HDFC Bank for Internet trading of

shares.

- Calcutta's cellular services provider Modi Telstra, and HDFC Bank have entered into a

collaboration to provide mobile commerce in Calcutta.

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- HDFC Bank has got the Kerala-based Nedungadi Bank as its first customer for its new joint

venture company with I-Flex Solutions.

- HDFC Bank has set a target of attaining a business of over Rs 15,000 crore this fiscal mainly

through expansion and new product launches, including a credit card.

- HDFC Bank, in association with Tata Cellular, has launched Mobile Commerce Service, for

customers in Hyderabad and Vishakaptnam.

- HDFC Bank has tied up with about 25 equity brokerages for enabling third party transfer of

funds and securities through its business-to-business portal -- `e-Net'.

- The Bank has entered into an alliance with Deloitte Haskins and Sells, a member firm of

Deloitte and Touch, to offer banking services to its non-resident Indian customers.

- HDFC Bank has launched its 123rd outlet at Delhi Stock Exchange building at Asaf Ali Road.

- The Bank proposes to acquire up to 24.5 per cent stake in the MIEL e-Security Pvt. Ltd., which

is engaged in the business of developing and marketing of security products and services for a

range of e-commerce and enterprises security applications.

- The Bank has tied up with Rajan Raheja-owned Hathway for providing banking at home as part

of the Net-over-cable initiative of the latter in Mumbai. - HDFC Bank launched its on-line bill

payment facility in alliance with the Maharashtra State Electricity Board has also begun to offer

bridge loans against fixed deposits of parent Housing Development Finance Corporation the

financial institution.

- HDFC Bank has tied up with portal brainvisa.com to retail education loans to students. - The

Gujarat Cellular operator Fascel, has signed up with the HDFC Bank to introduce mobile

commerce for the first time in the State.

- HDFC Bank has tied up with BPL Mobile for mobile commerce facility.

- CricketNext.com, a sports e-commerce site has tied up with HDFC Bank to provide an on-line

payment gateways and marketing opportunities for a wide range of cricket sports gear on its on-

line shop BatNext.

- Singapore-based Growasia.com has entered into an understanding with HDFC Bank and credit

rating agency Icra, for picking up equity in the company's Indian subsidiary Gasia.com.

- The Bank has launched `Freedom - The e-Age Savings Account' for cellular phone users.

- Spice Cell has tied up with Citibank N A, HDFC Bank and ICICI Bank for mobile bill

settlements.

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- HDFC Bank and Cosmos Bank launched a co-branded ATM card.

- The Chatterjee Group-promoted Captech Online Ltd. has signed memorandum of

understanding with HDFC Bank and UTI Bank for setting up a payment gateway for its debt

negotiation platform, Riskxpress.com.

- HDFC Securities Ltd., promoted by the HDFC group with equity participation from the

Housing Development Finance Corporation Ltd., HDFC Bank and Chase Capital Partners, has

launched its brokerage services for retail investors in the Capital.

- The HDFC Bank and Airtel launched their mobile-banking service through WAP in Delhi.

- HDFC Bank has launched wireless application protocol-based mobile-banking in Coimbatore

and Trichy in association with Aircel.

2001

- The Bank has opened its first branch in Aurangabad.

- HDFC Standard Life Insurance has entered into a memorandum of understanding with the

Chennai-based Indian Bank.

- The Bank has launched the international Maestro debit card in association with Master Card.

- HDFC Bank will launch its credit card in June through link-ups with MasterCard and Visa.

- LTtrade.com has entered into a strategic tie-up with HDFC Bank to provide Net banking

services to online investors.

- Standard Chartered Bank, HDFC Bank and Bharat Petroleum Corporation have joined the

eCash Forum which has been set up by the Smart Card Forum of India.

- HDFC Bank has launched a new campaign for its eage savings account.

- HDFC Bank entered into a strategic tie-up with Tally Solutions Pvt. Ltd. to offer online real

time accounting services to small and medium enterprises.

- The Bank has opened four ATMs outlets in Bangalore at Coles Road, RT Nagar, Rajaji Nagar

and Jaya Nagar on March 26.

- HDFC Standard Life Insurance has launched a `Development Insurance Plan' a low cost life

insurance product developed specifically to meet the needs of economically weaker sections.

- Two Directors, Mr. S.S. Thakur and Mr. Amit Judge, have resigned from the board of the bank

effective from March 30.

- HDFC Bank files with US regulators to list more than 11 million American Depositary Shares

on the New York Stock Exchange.

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2002

- HDFC Bank unveiled a new online account aggregation service `OneView'.

- HDFC launched 'One View' service to customers

- HDFC Bank launched its 9th branch in Karnataka.

- HDFC opens its branch in Mangalore.

- HDFC Bank unveils Silver card in Hyderabad.

- HDFC Bank opens first overseas representative office.

- HDFC Bank unveils gold card

- Mediclaim facilities to HDFC Bank gold cardholders.

- HDFC Bank Ltd has informed BSE that Mr Deepak Satwalekar has submitted his resignation

as Director of the Bank. The Board of Directors has accepted the same. The Board of Directors

has co-opted Mrs Renu Karnad as Additional Director of the Bank.

- Mrs. Renu Karnad has been co-opted as an Additional Director of the Bank. Mrs Karnad shall

represent the promoters of the bank i.e. HDFC Ltd. Also Mr. Deepak Satwalekar, Managing

Director of HDFC Standard Life Insurance Company Ltd, has been on the Board of the Bank as

nominee of HDFC Ltd since September 12, 1994 and shall complete the period of 8 yrs before

the next scheduled board meeting. In view of the provisions of the Banking Regulation Act,

1949, Mr. Satwalekar has submitted his resignation as Director of the Bank and the Board has

accepted the same.

- HDFC Bank launched new products to its wealth management programme to increase its

customer base. The bank introduced a non-interactive product named "Financial Planner", which

would be available for all its customers for an annual fee starting from Rs 10,000. The bank is

offering fee based advisory programme to the "mass affluent" segment, which was earlier offered

to high net worth customers. The wealth management programme would cater to individual

needs taking into account various factors such as customer's age, financial goals and risk profile,

which includes equity, MFs and debt instruments such as RBI Relief Bonds.

- Orange JV with HDFC Bank.

2003

- HDFC Bank unveils resident foreign currency account.

- HDFC Bank unveils co-branded credit card with e-Seva.

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17/98

- The Board of Directors of HDFC Bank Ltd at their meeting held on January 15, 2003 approved

the appointment of Mr. Arvind Pande as an Additional Director pursuant to section 260 of the

Companies Act, 1956.

- EPFO JV with HDFC Bank for its pension distribution.

- HDFC enters into agreement with HDFC Bank to source housing loans.

- HDFC Bank, IRCTC in tie up for online railway booking.

- HDFC Bank inks pact with ANB for remittance service

- HDFC Bank introduces 'HDFC Bank Health Plus Credit Card'.

- Uma Krishnan resigns HDFC Bank as country head.

- Escotel ties up with HDFC Bank for Global Debit Card.

- HDFC Bank launches India's first mobile payment solution.

- HDFC Bank's debt programme of Rs 400-crore has received triple A (ind) rating from CREDIT

rating agency FITCH.

-Mumbai - HDFC Bank in collaboration with Tally Solutions is planning to launch electronic

data interchange (EDI) system for small and medium enterprises (SMEs).

-Warburg Pincus sells 2% stake in HDFC for Rs 235 cr

- HDFC Bank began selling home loans of its promoter Housing Development Finance

Corporation (HDFC).

-Board approved to allot 4,16,400 equity shares to the employees of the Bank under the

Employee Stock Option Scheme

2004

-Mr Ranjan Kapur & Mr Bobby Parikh appointed as Additional Directors

-NMCE inks pact with HDFC Bank for warehouse receipts

- HDFC Bank has entered into an alliance with Clearing Corporation of India Ltd (CCIL). The

tie-up offers the latter's collateral borrowing and lending obligation (CBLO) product to

cooperative banks that are not direct members of the negotiated dealing system (NDS).

-HDFC Bank repurchases HDFC loans worth Rs 208 cr

-Launches Quickremit, a unique online service that enables NRIs in the US to send money to

their relatives in India from the comfort of their homes.

-Andhra Bank has entered into an alliance with HDFC Bank for sharing its network of automated

teller machines (ATMs). On March 29, 2004

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18/98

- HDFC Bank and Bahraini Saudi Bank (BSB) have announced an alliance to cater to service the

needs of the non-resident Indians (NRIs) in Bahrain.

- HDFC bank Ltd has informed that Dr (Mrs) Amla Samanta has ceased to be a director of the

Bank with effect to April 25, 2004.

- HDFC Bank launches new scheme for Maruti 800 buyers, providing 85 per cent finance on the

on-road price of the car for seven years.

-HDFC Bank wins Asia money award for Best Domestic Bank

-HDFC Bank managing director Aditya Puri has been awarded the management man of the year

by the Bombay Management Association (BMA)

-HDFC Bank has entered into an agreement with Shrachi Securities Ltd, the flagship company of

the Kolkata-based Rs 300-crore Shrachi Group, for financing of multi-utility vehicles all over

India

-HDFC Bank has launched an online bill payment facility for its customers who are also

subscribers to Tata Teleservices

-HDFC Bank join hands with NCR Corporation to offer managed ATM services

- IKF Finance Ltd has entered in to a Joint Lending Arrangement with HDFC Bank Ltd

2005

-TMB forges alliance with HDFC Bank

-HDFC Bank inaugurates first ATM in Hotel

- HDFC Bank ties up with the International Bank of Qatar (IBQ) to launch banking services in

Qatar.

- HDFC Bank launches loyalty rewards programme for its debit and credit cardholders under the

name InstaWonderz.

-HDFC Bank along with MasterCard International launched credit card targeted at small and

medium-sized enterprises

-HDFC Bank has tied up with US-based WL Ross and company LLC for investing in corporate

restructuring

-HDFC Bank unveils credit card for farmers

2006

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19/98

-HDFC sets up two more branches in AP

2007

-HDFC Bank has signed an agreement with Tata Pipes to offer credit facilities to farmers across

the country.

-Hdfc Bank Ltd has appointed Mr. Pandit Palande as an additional Director of the Bank at the

Board Meeting held today i.e. on 24th April 2007.

- HDFC Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on

October 12, 2007, has been appointed Mr. Paresh Sukthankar & Mr. Harish Engineer as

Executive Directors on the Board of Directors of the bank. Mr. Sukthankar & Mr. Engineer have

been senior employees of the Bank since 1994 and have held various positionsof responsibility

Organizational Structure

19

Chairperson(Jagdish Capoor)

Director(Keki

Mistry)

Director(Vineet

Jain)

Director(Gautam

Divan)

Director(C.M

Vasudev)

Director(Arvind

Pande)

Director(Pandit

Palande)

Managing

Director

(Aditya

Puri)

Executive director(Paresh Sukthankar)

Executive director(Harish Engineer )


20/98

PROMOTER

HDFC is India's premier housing finance company and enjoys an impeccable track record in

India as well as in international markets. Since its inception in 1977, the Corporation has

maintained a consistent and healthy growth in its operations to remain the market leader in

mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has

developed

significant expertise in retail mortgage loans to different market segments and also has a large

corporate client base for its housing related credit facilities. With its experience in the financial

markets, a strong market reputation, large shareholder base and unique consumer franchise,

HDFC was ideally positioned to promote a bank in the Indian environment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound

customer franchises across distinct businesses so as to be the preferred provider of banking

services for target retail and wholesale customer segments, and to achieve healthy growth in

profitability, consistent with the bank's risk appetite. The bank is committed to maintain the

highest level of ethical standards, professional integrity, corporate governance and regulatory

compliance. HDFC Bank's business philosophy is based on four core values - Operational

Excellence, Customer Focus, Product Leadership and People.

TIMES BANK AMALGAMATION

In a milestone transaction in the Indian banking industry, Times Bank Limited (another new

private sector bank promoted by Bennett, Coleman & Co./Times Group) was merged with

HDFC Bank Ltd., effective February 26, 2000. As per the scheme of amalgamation approved by

the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank

20


21/98

received 1 share of HDFC Bank for every 5.75 shares of Times Bank. The acquisition added

significant value to HDFC Bank in terms of increased branch network, expanded geographic

reach, enhanced customer base, skilled manpower and the opportunity to cross-sell and leverage

alternative delivery channels.

TECHNOLOGY

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 software, the

Corporate Banking business is supported by Flexcube, while the Retail Banking business by

Finware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled.

The Bank has prioritised its engagement in technology and the internet as one of its key goalsand 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.

DISTRIBUTION NETWORK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over

593 branches spread over 263 cities across India. All branches are linked on an online real-time

basis. Customers in over 120 locations are also serviced through Telephone Banking. The Bank's

expansion plans take into account the need to have a presence in all major industrial and

commercial centres where its corporate customers are located as well as the need to build a

strong retail customer base for both deposits and loan products. Being a clearing/settlement bank

21


22/98

to various leading stock exchanges, the Bank has branches in the centres where the NSE/BSE

have a strong and active member base.

The Bank also has a network of about over 1131 networked ATMs across these cities. Moreover,

HDFC Bank's ATM network can be accessed by all domestic and international Visa/MasterCard,

Visa Electron/Maestro, Plus/Cirrus and American Express Credit/Charge cardholders.

BUSINESSES

HDFC Bank offers a wide range of commercial and transactional banking services and treasury

products to wholesale and retail customers. The bank has three key business segments:

Wholesale Banking Services

The Bank's target market ranges from large, blue-chip manufacturing companies in the Indian

corporate to small & mid-sized corporate and agri-based businesses. For these customers, the

Bank provides a wide range of commercial and transactional banking services, including

working capital finance, trade services, transactional services, cash management, etc. The bank is

also a leading provider of structured solutions, which combine cash management services with

vendor and distributor finance for facilitating superior supply chain management for its corporate

customers. Based on its superior product delivery / service levels and strong customer

orientation, the Bank has made significant inroads into the banking consortia of a number of

leading Indian corporate including multinationals, companies from the domestic business houses

and prime public sector companies. It is recognized as a leading provider of cash management

and transactional banking solutions to corporate customers, mutual funds, stock exchange

members and banks.

Retail Banking Services

The objective of the Retail Bank is to provide its target market customers a full range of financial

products and banking services, giving the customer a one-stop window for all his/her banking

requirements. The products are backed by world-class service and delivered to the customers

through the growing branch network, as well as through alternative delivery channels like

22


23/98

ATMs, Phone Banking, Net-Banking and Mobile Banking.

The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the

Investment Advisory Services programs have been designed keeping in mind needs of customers

who seek distinct financial solutions, information and advice on various investment avenues. The

Bank also has a wide array of retail loan products including Auto Loans, Loans against

marketable securities, Personal Loans and Loans for Two-wheelers. It is also a leading provider

of Depository Participant (DP) services for retail customers, providing customers the facility to

hold their investments in electronic form.

HDFC Bank was the first bank in India to launch an International Debit Card in association with

VISA (VISA Electron) and issues the Mastercard Maestro debit card as well. The Bank launched

its credit card business in late 2001. By September 30, 2005, the bank had a total card base (debit

and credit cards) of 5.2 million cards. The Bank is also one of the leading players in the

"merchant acquiring" business with over 50,000 Point-of-sale (POS) terminals for debit / credit

cards acceptance at merchant establish.

Treasury

Within this business, the bank has three main product areas - Foreign Exchange and Derivatives,Local Currency Money Market & Debt Securities, and Equities. With the liberalization of the

financial markets in India, corporates need more sophisticated risk management information,

advice and product structures. These and fine pricing on various treasury products are provided

through the bank's Treasury team. To comply with statutory reserve requirements, the bank is

required to hold 25% of its deposits in government securities. The Treasury business is

responsible for managing the returns and market risk on this investment portfolio.

AWARDS and ACHIEVEMENTS- BANKING SERVICES

HDFC Bank began operations in 1995 with a simple mission: to be a "World-class Indian

Bank". We realized that only a single-minded focus on product quality and service excellence

would help us get there. Today, we are proud to say that we are well on our way towards that

23


24/98

goal. The Asset magazine named HDFC Bank "Best Cash Management Bank" and "Best

Trade Finance Bank" in India, in 2006.HDFC Bank named the "Most Customer Responsive

Company - Banking and Financial Services in The Economic Times - Avaya Global

Connect Customer Responsiveness Awards 2005". HDFC Bank has been named Best

Domestic Bank in India in The Asset Triple A Country Awards 2005.In 2004, HDFC Bank

was selected by Business World as "One of India's Most Respected Companies" as part of

The Business World Most Respected Company Awards 2004.In 2004, HDFC Bank won the

award for "Operational Excellence in Retail Financial Services" - India as part of the Asian

Banker Awards 2003.

Asia money AWARDS:

2006

Business Today Best Bank in India.

Forbes Magazine One of Asia Pacific's Best 50 companies.

Business world Best listed Bank of India.

The Asset

Magazine's Triple A

Country Awards

Best Domestic Bank.

Asia money Awards Best Local Cash Management Bank in Large and Medium segments.

Euro money

Awards

"Best Bank" in India.

CREDIT RATING

HDFC Bank has its deposit programmes rated by two rating agencies - Credit Analysis &

Research Limited. (CARE) and Fitch Ratings India Private Limited. The bank's Fixed Deposit

programme has been rated 'CARE AAA (FD)' [Triple A] by CARE, which represents

instruments considered to be "of the best quality, carrying negligible Investmentrisk".

CARE has also rated the bank's Certificate of Deposit (CD) programme "PR 1+" which

24


25/98

represents "superior capacity for repayment of short term promissory obligations". Fitch Ratings

India Pvt. Ltd. (100% subsidiary of Fitch Inc.) has assigned the "tAAA ( ind )" rating to the

bank's deposit programme, with the outlook on the rating as "stable". This rating indicates

"highest credit quality" where "protection factors are very high".

HDFC Bank also has its long term unsecured, subordinated (Tier II) Bonds of Rs.4 billion rated

by CARE and Fitch Ratings India Private Limited. CARE has assigned the rating of "CARE

AAA" for the Tier II Bonds while Fitch Ratings India Pvt. Ltd. has assigned the rating

"AAA( ind )" with the outlook on the rating as "stable". In each of the cases referred to above,

the ratings awarded were the highest assigned by the rating agency for those instruments.

CORPORATE GOVERNANCE RATING

The bank was among the first four companies, which subjected itself to a Corporate Governance

and Value Creation (GVC) rating by the rating agency, The Credit Rating Information Services

of India Limited (CRISIL). The rating provides an independent assessment of an entity's current

performance and an expectation on its "balanced value creation and corporate governance

practices" in future. The bank has been assigned a 'CRISIL GVC Level 1' rating, which indicates

that the bank's capability with respect to wealth creation for all its stakeholders while adoptingsound corporate governance practices is the highest.We are aware that all these awards are mere

milestones in the continuing, never-ending journey of providing excellent service to our

customers. We are confident, however, that with your feedback and support, we will be able to

maintain and improve our services.

25


26/98

Annual Balance Sheet

Fiscal Year End for HDFC BANK LTD falls in the month of March.

All items in Millions except Per Share data.

03/31/08 03/31/07 03/31/06 03/31/05 03/31/04

AssetsCash & Equivalents -96,304.42 1,968.20 1,536.40 1,090.20 1,220.30

Receivables 0 12,818.50 9,081.30 5,992.60 4,190.30

Notes Receivable 0 0 0 0 0

Inventories 0 0 0 0 0

Other Current Assets 0 297.40 0 0 82.10

Total Current Assets 3,694.58 15,084.10 10,617.70 7,082.80 5,492.70

Net Property & Equipment 293.78 241.20 195.90 162.40 142.10

Investments & Advances 28,205.11 7,059 6,147.90 4,683.50 4,052.40

Other Non-Current Assets 0 0 0 0 0Deferred Charges 0 0 0 0 0

Intangibles 0 0 0 0 0

Deposits & Other Assets 1,100.60 1,123.40 821.10 209.20 147.70

Total Assets 33,294.15 23,507.70 17,782.60 12,137.90 9,834.90

Liabilities & Shareholder's Equity

Notes Payable 0 2,458.70 1,701.40 1,423.20 554.50

Accounts Payable 25,192.15 15,831.70 12,529.30 8,334.30 7,006

Current Portion Long-Term Debt 0 0 0 0 0Current Portion Capital Leases 0 0 0 0 0

Accrued Expenses 0 2,910.30 1,921.50 1,134 1,414.90

Income Taxes Payable 0 0 0 0 0

Other Current Liabilities 0 0 0 0 0

Total Current Liabilities 25,192.15 21,200.70 16,152.20 10,891.50 8,975.40

Mortgages 0 0 0 0 0

Deferred Taxes/Income 0 0 0 0 0

Convertible Debt 0 0 0 0 0

Long-Term Debt 1,119.71 779.60 382.80 115.30 140.20Non-Current Capital Leases 0 0 0 0 0

Other Non-Current Liabilities 4,107.97 0 0 0 0

Minority Interest (Liabilities) 0 7.50 5 0 0

Total Liabilities 30,419.84 21,987.80 16,540 11,006.80 9,115.60

Shareholder's Equity

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27/98

Preferred Stock 0 0 0 0 0

Common Stock (Par) 0 74.10 70.40 71 65.20

Capital Surplus 88.60 701.30 602.60 591.20 288.60

Retained Earnings 2,785.70 568.50 411.10 295.10 208.70

Other Equity 0 176 158.50 173.80 156.80Treasury Stock 0 0 0 0 0

Total Shareholder's Equity 2,874.30 1,519.90 1,242.60 1,131.10 719.30

Total Liabilities & Shareholder's Equity 33,294.15 23,507.70 17,782.60 12,137.90 9,834.90

Total Common Equity102,873.3

01,519.90 1,242.60 1,131.10 719.30

Shares Outstanding 117.80 106.40 103.20 103.20 94.20

Book Value Per Share 873.29 14.28 12.04 10.96 7.64

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28/98

28

Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar ' 04

Income :

Operating

Income12,354.41 8,303.34 5,567.67 3,723.86 2,970.15

Expenses

Financial

Expenses4,887.12 3,179.45 1,929.50 1,315.56 1,211.05

Personnel

Expenses1,301.35 776.86 486.82 276.67 204.09

Selling

Expenses114.73 74.88 80.85 54.95 37.06

Adminstrative

Expenses2,247.48 1,519.32 1,424.59 785.93 621.41

Expenses

Capitalised0.00 0.00 0.00 0.00 0.00

Operating

Expenditure8,550.68 5,550.51 3,921.76 2,433.11 2,073.61

Operating

Profit3,803.73 2,752.83 1,645.91 1,290.75 896.54

Other

Recurring

Income

43.04 102.96 31.38 20.76 59.26

Adjusted

PBDIT3,846.77 2,855.79 1,677.29 1,311.51 955.80

Provisions

Made1,294.67 754.90 0.00 0.00 16.70

Depreciation 271.72 219.60 178.59 144.07 125.72

Other Write

offs0.00 241.09 245.16 188.06 93.22

Earnigs Before

Appropriation

3,522.15 2,596.12 1,473.12 1,070.62 865.63

Equity

Dividend301.27 223.57 172.23 140.07 100.05

Preference

Dividend0.00 0.00 0.00 0.00 0.00

Dividend Tax 51.20 38.00 24.16 19.64 12.82

Retained

Earnings3,169.68

2,334.551,276.73 910.91 752.76


29/98

The reportable primary segments have been identified in accordance with the Accounting

Standard on Segment. Reporting (AS-17) issued by the Institute of Chartered Accountants of

India (ICAI).

The Bank operates in three segments: retail banking, wholesale banking and treasury services.

Segments have been identified and reported taking into account, the target customer profile, the

nature of products and services, the differing risks and returns, the organization structure and the

internal business reporting systems.

NOTES:

1. The above results have been approved by the Board at its meeting held on January 11, 2008

2. During the quarter and the nine months ended December 31, 2007, the Bank allotted 774,600

shares and 2,007,000 shares respectively pursuant to the exercise of stock options by certain

employees.

3. During the quarter ended December 31, 2007, the bank granted 3586500 stock options under

its scheme titled ESOS VIII and 3046800 stock options under its scheme titled ESOS IX to

its employees. The grant price of these options is Rs. 994.85, being the closing market price as

on the working day immediately preceding the date of grant of options.

4. Other income relates to income from non-fund based banking activities including commission,

fees, foreign exchange earnings, earnings from derivative transactions and profit and loss

(including revaluation) from investments.

5. Provision for Taxes includes Rs. 375 lacs and Rs. 1200 lacs towards provision for fringe

benefit tax (FBT) for the quarter and the nine months ended December 31, 2007, respectively.

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30/98

6. During the quarter ended December 31, 2006, the Bank raised Rs. 47850 lacs as Upper Tier II

capital in the form of subordinated bonds.

7. As on December 31, 2007, the total number of branches (including extension counters) and the

ATM network stood at 583 branches and 1471 ATMs respectively.

8. Previous period figures have been regrouped/reclassified wherever necessary to conform to

current period's classification.

9. The above results for the quarter and the nine months ended December 31, 2007, have been

subjected to a Limited Review by the auditors of the Bank, as per the listing agreements with

Bombay Stock Exchange Limited and The National Stock Exchange of India Limited.

Share holding pattern

Share Holding Pattern as on : 31/03/2008 31/12/2007 30/09/2007

Face Value 10.00 10.00 10.00

No. Of

Shares

%

Holding

No. Of

Shares

%

Holding

No. Of

Shares

%

Holding

PROMOTER'S HOLDING

Indian Promoters 82443000 23.26 82443000 23.28 82443000 23.33

Sub Total 82443000 23.26 82443000 23.28 82443000 23.33

NON PROMOTER'S HOLDING

Institutional Investors

Mutual Funds and UTI 9836118 2.78 11985976 3.39 14521101 4.11

Banks Fin. Inst. and Insurance 10661235 3.01 10068939 2.84 9509009 2.69

FII's 91765868 25.89 94087619 26.57 91188180 25.80

Sub Total 112263221 31.67 116142534 32.80 115218290 32.60

Other Investors

Private Corporate Bodies 31389135 8.86 28598234 8.08 28877678 8.17NRI's/OCB's/Foreign Others 6302275 1.78 6019811 1.70 6039388 1.71

Government 6091527 1.72 3841342 1.08 2638101 0.75Others 76595508 21.61 78110019 22.06 78996570 22.35

Sub Total 120378445 33.96 116569406 32.92 116551737 32.98

General Public 39348254 11.10 38920380 10.99 39238893 11.10

GRAND TOTAL 354432920 100.00 354075320 100.00 353451920 100.00

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31/98

Capital Structure

From

Year

To Year Class Of

Share

Authorized

Capital

(Crores)

Issued

Capital

(Crores)

Paid Up

Shares

(Nos)

Paid Up

Face Value

Paid Up

Capital

(Crores)

2007 2008 Equity Share 550.00 354.43 354432920 10 354.432006 2007 Equity Share 450.00 319.39 319389608 10 319.39

2005 2006 Equity Share 450.00 313.14 313142408 10 313.14

2004 2005 Equity Share 450.00 309.88 309875308 10 309.88

2003 2004 Equity Share 450.00 284.79 284791713 10 284.79

2002 2003 Equity Share 450.00 282.05 282045713 10 282.05

2001 2002 Equity Share 450.00 281.37 281374613 10 281.37

2000 2001 Equity Share 300.00 243.60 243596261 10 243.60

1999 2000 Equity Share 300.00 243.28 243278261 10 243.28

1995 1999 Equity Share 300.00 200.00 200000000 10 200.00

1994 1995 Equity Share 300.00 110.00 110000000 10 110.00

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32/98

PERSONAL BANKING

SAVINGS ACCOUNT

1) Regular savings a/c:

32

Products & Services.


33/98

An easy-to-operate savings account that allows you to issue cheques, draw Demand Drafts and

withdraw cash. Check up on your balances from the comfort of your home or office throughNet

Banking, Phone Bankingand Mobile Banking .

Features & benefits

Wide network of branches and over thousand ATMs to meet all your banking needs no

matter where you are located.

Bank conveniently with facilities like Net Banking and Mobile Banking- check your

account balance, pay utility bills or stop cheque payment, through SMS.

Never overspend- Shop using your International Debit Card that reflects the actual

balance in your savings account.

Avail of facilities like Safe Deposit Locker, Sweep-In and Super Saverfacility on your

account.

2) Retail Trust a/c:

The Retail Trust Account is beneficial for Trusts and Societies as it earns them a higher

interest as compared to a conventional Current Account that offers no interest.

Features & benefits

Avail of Free Outstation Cheque Collection at HDFC Bank locations across the country.

Enjoy free DD's payable on HDFC bank locations up to a limit of Rs. 50,000/- per DD,

per day.

Payable at Par Cheque facility: At a nominal cost, you can avail a PAP cheque book of 25

leaves (Regular non-PAP cheque book come free of cost).

Avail of Special discounts on Foreign exchange transactions and Forex rates at most

branches across the country.

33
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34/98

Structured Investment Program: Avail of the facility for investing surplus funds lying in

your account into Mutual Funds, RBI Bonds and other financial instruments through any

of our branches across the country.

3) SALARY ACCOUNT

a) Payroll salary a/c:

Features & benefits

Nil Interest payout on account balance

Free Payroll Debit Card - (max cash withdrawal at ATMs- Rs 15,000/- and Rs 25,000 at

shopping avenues)

BillPay facility at Rs 25/- (plus taxes) per qtr. per Customer ID.

Up to 6 free ATM cash withdrawal transactions; thereafter Rs. 30/- per transaction.

Cheque book issuance @ charge of Rs.5 per leaf (only on request and this is not a

standard offering )

b) Classic salary a/c:

Features & benefits

Zero Balance Account

Free personalised cheque books.

Free ATM Card with a withdrawal limit of up to Rs. 10,000/- per day.

Free facilities like Net Banking, Phone Banking and Mobile Banking.

c) Regular salary a/c:

34
http://www.hdfcbank.com/personal/investments/mutual_funds.htmhttp://www.hdfcbank.com/personal/investments/bonds.htmhttp://images.google.co.in/imgres?imgurl=http://www.americanexpress.com/india/images/img_hdfcbank.jpg&imgrefurl=http://www.americanexpress.com/india/customerservice/getinfo_pers.cgi&h=45&w=147&sz=3&hl=en&start=73&um=1&tbnid=yNiyPab52o0FkM:&tbnh=29&tbnw=95&prev=/images%3Fq%3Dhdfc%2Bbank%26start%3D60%26ndsp%3D20%26svnum%3D10%26um%3D1%26hl%3Den%26sa%3DNhttp://www.hdfcbank.com/personal/investments/mutual_funds.htmhttp://www.hdfcbank.com/personal/investments/bonds.htm


35/98

Features & benefits

No minimum balance required.

Free International Debit card with ATM cash withdrawal limit of up to Rs. 15,000

and Rs. 25,000 (non-cash) at shopping avenues.

Free issuance of Demand Drafts up to Rs. 25,000 per instrument, payable at branches

within the HDFC Banking network.

Preferential rates on loan products offered by the bank.

Preferential rates on forex transactions.

d) Premium salary a/c:

Features & benefits

Free International Debit Card and Add-on Debit card for life.

Free Personal Insurance Accident cover up to Rs. 2,00,000/- on the Debit card.

Free Debit card withdrawals - max cash withdrawal at ATMs- Rs 25,000/- and Rs

50,000 (non-cash) at shopping avenues.

Preferential rates for Gold and Silver credit cards.

Free Demand Drafts up to Rs. 25,000 per instrument, per instrument payable at

branches within the HDFC Banking network.

Free BillPay and Insta Alert facility.

e) Defence salary a/c:

Features & benefits

The Defence Salary Account is a Zero Balance account.

Enjoy facilities like NetBanking, PhoneBanking, MobileBanking, BillPay, ATM facility,

and inter-branch banking.

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36/98

Enjoy preferential rates on Loans Against Shares, New Car Loans and Used Car Loans,

Consumer Loans and Personal Loans.

4)Kids Advantage Account:

Features & benefits

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

5)PENSION SAVING ACCOUNT:

Features & benefits

The Pension Saving account is a Zero Balance Account.

Timely credit of receivables

Free International Debit Card.

Enjoy facilities such as NetBanking, PhoneBanking, BillPay, ATM facility, inter-city and

inter-branch banking.

Pension Accounts are transferable from one branch/bank to another.

6)FAMILY SAVINGS ACCOUNT:

Features & benefits

All account holders can operate their account freely without worrying about their

minimum balance.

Family members with NRI status can also be part of the group.

Get 5 Free Cash withdrawal transactions on SBI ATMs per group per month.

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37/98

Upto 2 free DD's/ MC's on HDFC Bank locations per account per month (max. up to Rs.

25,000/- per instrument per day).

Free International Debit Card for all account holders till the account is part of the Family

group. (NRO Accounts will be issued only ATM cards)

Free BillPay & InstaAlerts facility for all account holders till the account is part of the

Family Group.

Free Standing Instructions for investment into Mutual Funds

Free OneView to access all your accounts.

Free MobileBanking, NetBanking & PhoneBanking.

Enjoy a Savings account to Savings acount sweep-in to a nominated account (sweep-in to

NRE accounts not permitted from resident / NRO accounts).

CURRENT ACCOUNT:

1) Plus Current a/c:

In today's fast-paced world, your business regularly requires you to receive and send funds to

various cities in the country. HDFC Bank Plus Current Account gives you the power of inter-

city banking with a single account and access to more than 220 cities.

Features & benefits

Free outstation cheque collection (non HDFC Bank location cheques will incur a

nominal charge).

Free limited NetBanking for checking balances in accounts.Full fledged Net Banking

can be availed of after completion of certain formalities.

FREE Demand Drafts (without any limit) payable at Mumbai, Delhi, Kolkata, Chennai,

Ahmedabad, Bangalore, Hyderabad, Trivandrum, Chandigarh, Bhopal, Nagpur, Jaipur,

Bhubaneshwar, Kanpur, Patna & Guwahati. At all other HDFC Bank Branch locations,

Demand Drafts will be issued Free up to a total of Rs.50 lacs per month, incremental to

be charged @ Rs.0.25 per Rs.1,000, minimum Rs.25/-, maximum Rs.5,000.

These drafts are available free only from the Home Branch

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Free Funds Transfer- Huge savings!

You can transfer funds absolutely FREE across all locations, except Dahej, in the HDFC

Bank network upto a total value of Rs.100 lakhs per month.

any incremental amount above Rs.100 lakhs will be charged @ Rs. 0.50 /Rs.1000.

Easy cash deposit and withdrawal. You can avail of the service FREE, at home branch,

as per the branch's discretion. At non-home branches within the same city, you can

withdraw cash up to Rs.50,000/-, but cash deposits are allowed to account-holder (self)

only, upto Rs.100,000/- per day at a charge of Rs.2/- per Rs.1,000/-.

Free Cheque book with "At Par" cheque leaves.

2) Trade Current a/c:

In today's changing busines requirements, you need to transfer funds across cities, and time is of

the essence. HDFC Bank Trade Current Account gives you the power of

inter-city banking with a single account.

From special cheques that get treated at par with local ones in any city where we have a branch,

to free** collection of outstation cheques (payable at branch locations), to free inter-city funds

transfers of up to 25 lakhs, our priority services have become the benchmark for banking

efficiency.

Features & benefits

Convenient Inter-city banking across more than 185 cities

Safe & convenient Intra-city banking

FREE Funds Transfer. Huge Savings.

DE-MAT ACCOUNT:

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HDFC BANK is one of the leading Depository Participant (DP) in the country with over 8 Lac

de-mat accounts.

HDFC Bank De-mat 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).

LOANS

PERSONAL LOAN

Features & benefits

Borrow up to Rs 10,00,000 for any purpose depending on your requirements.

Flexible Repayment options, ranging from 12 to 48 months.

Repay with easy EMI.

One of the lowest interest rates.

Hassle free loans - No guarantor/security/collateral required.

Speedy loan approval.

Convenience of service at your doorstep.

Customer privileges

HOME LOAN

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Overdrafts available on cars hypothecated with the bank and up to 9 years old.

Loans ranging from Rs. 50,000 to Rs. 7 lacs depending on your needs.

Borrow up to 90% of the value of the car

LOAN AGAINST SECURITIES

With HDFC Bank's Loan against Securities, one can get an overdraft against securities like

Equity Shares, Mutual Fund Units, GOI Relief Bonds, LIC Policies, NSC, KVP, UTI Bonds

(6.60% ARS & US64 Bonds) and Gold Deposit Certificates, while still retaining ownership. And

the best part is that one can continue to enjoy all shareholder benefits such as rights, dividends

and bonuses.

Features & benefits

Overdraft facility can be availed against pledge of:

Equity Shares* - Demat Shares up to 50% of the value.

Mutual Fund units* - Mutual Funds up to 50% of NAV (Net Asset Value). See

approved Mutual Fund Schemes.

GOI Relief Bonds

LIC Policies

LOAN AGAINST PROPERTY

HDFC Bank brings to you Loan Against Property (LAP). one can now take a loan against

residential or commercial property, to expand his/her business, plan a dream wedding, fund

child's education and much more. Loan to purchase Commercial Property (LCP) is a specially

designed product to help you expand your business without reducing the capital from your

business.

Features & benefits

Loans from Rs. 2 Lacs onwards depending on your needs

Borrow up to 60% of market value of the property

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Flexibility to choose between an EMI based loan or an Overdraft - We also offer to you

overdraft against your self-occupied residential or commercial property and you save

money by paying interest only on the amount utilized.

High tenure loans for ease of repayment.

Attractive interest rates.

COMMERCIAL VEHICLE FINANCE

Truck? Tempo? or a Tipper? If some one is looking for finance to buy commercial vehicle.

We offer hassle-free Commercial Vehicle Loan with the best terms for funding at the most

attractive rates in India.

WORKING CAPITAL FINANCE

HDFC a bank with substantial appetite for recognized credits., they have a team of customer-

driven relationship managers with wide industry experience in various segments. HDFC provide

working capital finance by way of cash credit or loans suitably structured for the transporter to

fund day-to-day operations like fuel, tyre replacement, repairs, salary, maintenance, etc.

CREDIT CARDS:

Besides arming one with unmatched spending power, HDFC Banks Credit Cards are designed to

meet ones unique needs.

INTERNATIONAL SILVER CREDIT CARD

Rewards points, Insurance to suit ones needs! Loyalty does definitely reap rewards with HDFC

Bank with lower interest rates and privilege pricing on our products.

Features & benefits

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1) Add on cards

Get up to 3 supplementary cards for your spouse, parents, siblings (own brother/sister), son

and/or daughter (over 18 years) and allow them to enjoy the many benefits of a HDFC Bank

International Silver Credit Card.

2) Zero liability on lost card

Report your credit card loss immediately to our executives at our 24-hour call centers. After

reporting to us, you carry zero liability on any fraudulent transactions on your card.

3) Widely accepted

Accepted at over 110,000 merchant establishments across India and Nepal and close to 18

million merchant establishments around the world.

GOLD CREDIT CARD

Features & benefits

Upto5%cashbackonairticketing

Get a whopping 5% cash back on any domestic air ticket purchased with HDFC Bank Gold

Credit Card directly from the Airline Company's website, for transactions above

Rs 10000. For transactions up to Rs 10000, get 2.5% cashback.

5% cashback on train ticketing

Get 5% cashback on railway tickets purchased with your HDFC Bank Gold Credit Card at the

Indian Railway.

Discounts on hotel tariff

A whopping 50% discount on hotel stays across India and abroad, through complimentary Silver

Benefit membership to the International Business Travelers Club. You are also eligible for up to

50% discounts for car rentals from Hertz-Rent-a-Car, through the IBTC membership.

Insurance benefits

HDFC Banks provide air accident cover of Rs.25 lakhs, rail/road accident cover of Rs 3 lakhs

and accidental hospitalization cover of Rs 50,000 absolutely free on the card.

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Greater reward points

With the HDFC Bank Gold Credit Card you earn 2 reward points for every Rs. 100 spent on the

card.

Revolving credit facility

Pay a minimum amount, which is 5% (subject to a minimum amount of Rs.200) of your total bill

amount or any higher amount whichever is convenient and carry forward the balance to a better

financial month. For this facility you pay a nominal charge of just 2.95% per month (35.4%

annually) (2.85% per month 34.2% annually for HDFC Bank Account Holders).

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.

Features & benefits

Discounts o n hotel tariff

Enjoy a flat 50% discounts on 150 hotels in India and 1500 hotels worldwide, with the

complimentary membership to International Business Travellers' Club.

Conversion of reward points to air miles

You can redeem your accumulated reward points for air miles on India's top airlines - Jet

Airways, Indian, Air Sahara & Kingfisher Airlines.

Lowest ever interest rates

If you choose to use the Revolving Credit Facility, you would pay the lowest-ever interest rate of

1.95% per month. This would translate to ample flexibility in terms of financial planning at your

convenience.

Zero petrol surcharge

Earn while you spend on your fuel!!! As a HDFC Bank Titanium Card customer, you enjoy not

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