22595591 hdfc project
TRANSCRIPT
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A Project Report On
SWOT ANALYSIS IN HDFC BANK
By
SOHAM A PARINGE
M COMPART 1
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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 visakhapatnam , 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 , visakhapatnam 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
Personal Banking 11
NRI Banking 34
Wholesale Banking 35
3 Market Research
Problem Definition & Objectives 40
Research Methodology 40
Data Analysis & Observation 43
Recommendations & Limitations 56
4 SWOT Analysis 58
5 A Comparative Study Among the Emerging 61
Commercial Banks
6 Conclusion 63
7 Bibliography 65
8 Annexure
Questionnaire 67
Excel Sheets
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I
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 bank is 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.
http://en.wikipedia.org/wiki/Commercial_bankshttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/HDFChttp://en.wikipedia.org/wiki/HDFChttp://en.wikipedia.org/wiki/1977http://en.wikipedia.org/wiki/Commercial_bankshttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/HDFChttp://en.wikipedia.org/wiki/1977 -
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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 Pte. Ltd. Another
400,00,000 equity shares were allotted on private placement basis to Natwest 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 Churchgate, 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.
- HDFC has installed state-of-the-art systems to facilitate inter-connectivity between branches
and link up with on line system.
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- 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 corporates.
- 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.
- 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.
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- 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 Threadneedle Mutual Fund to provide its investors with the
High Interest Fund (HIF), a facility to encash 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.
- HDFC Bank, has tied up with BPL Ltd to offer Internet-enabled supply-chain management and
business-to-consumer (B2C) e-commerce services to corporates.
- Hutchison Max Telecom and HDFC Bank introduced the country's first-ever mobile-banking
services in the city.
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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 corporates 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.
- SkyCell 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 realtime. -
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 eshopping experience.
- HDFC Bank plans to extend its mobilephone banking services introduced in select metros to
mobilephone broking when it introduces its Internet on-line trading in July. - HDFC Bank and
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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.
- 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.
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- 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.
- 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.
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- 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.
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.
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- 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.
- 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.
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- 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
- 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.
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- 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 Asiamoney 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
-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.
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-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
Chairperson
(Jagdish Capoor)
Director
(Keki
Mistry)
Director
(Vineet
Jain)
Director
(Gautam
Divan)
Director
(C.M
Vasudev)
Director
(Arvind
Pande)
Director
(Pandit
Palande)
Managing
Director
(AdityaPuri)
Executive director
(Paresh Sukthankar)
Executive director
(Harish Engineer )
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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
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.
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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 goals
and has already made significant progress in web-enabling its core businesses. In each of its
businesses, the Bank has succeeded in leveraging its market position, expertise and technology to
create a competitive advantage and build market share.
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
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,
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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 corporates 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 corporates including multinationals, companies from the domestic business
houses and prime public sector companies. It is recognised 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
ATMs, Phone Banking, NetBanking and Mobile Banking.
The HDFC Bank Preferred program for high net worth individuals, the HDFC Bank Plus and the
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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
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
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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 BusinessWorld 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.
Asiamoney AWARDS:
2006
Business Today Best Bank in India.
Forbes Magazine One of Asia Pacific's Best 50 companies.
Businessworld Best listed Bank of India.
The Asset
Magazine's Triple A
Country Awards
Best Domestic Bank.
Asiamoney Awards Best Local Cash Management Bank in Large and Medium segments.
Euromoney 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
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
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"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 adopting
sound 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.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS
ENDED DECEMBER 31, 2007
HDFC BANK LTD (NYSE)
HDB 99.51 -1.38 (-1.37%) Vol. 223,154 16:02 ET
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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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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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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 2,334.55 1,276.73 910.91 752.76
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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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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 HOLDINGIndian 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 4.11Banks 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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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 10 354.43
2006 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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Products & Services.
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PERSONAL BANKING
SAVINGS ACCOUNT
1) Regular savings a/c:
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 through
NetBanking, PhoneBanking and MobileBanking.
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 NetBanking and MobileBanking- 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) NO FRILLS savings a/c:
In an effort to make banking simpler and more accessible for our customers, we have introduced
the 'No Frills' Savings Account, which offers you all the basic banking facilities. You can even
avail of services like NetBanking, Mobilebanking free of cost.
http://www.hdfcbank.com/personal/access/netbanking.htmhttp://www.hdfcbank.com/personal/access/phonebanking.htmhttp://www.hdfcbank.com/applications/misc/mobilebanking.asphttp://www.hdfcbank.com/applications/misc/mobilebanking.asphttp://www.hdfcbank.com/personal/cards/dc_int.htmhttp://openwindow%28%22/applications/locator/locker.asp%22,%22%22,%22width=680,height=410,scrollbars=yes%20,menubar=no,location=no,left=0,top=0%22)http://www.hdfcbank.com/personal/accounts/sweepin.htmhttp://www.hdfcbank.com/personal/accounts/super_saver.htmhttp://www.hdfcbank.com/personal/access/netbanking.htmhttp://www.hdfcbank.com/personal/access/phonebanking.htmhttp://www.hdfcbank.com/applications/misc/mobilebanking.asphttp://www.hdfcbank.com/personal/cards/dc_int.htmhttp://openwindow%28%22/applications/locator/locker.asp%22,%22%22,%22width=680,height=410,scrollbars=yes%20,menubar=no,location=no,left=0,top=0%22)http://www.hdfcbank.com/personal/accounts/sweepin.htmhttp://www.hdfcbank.com/personal/accounts/super_saver.htm -
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Features & benefits
Access a wide network of branches and over a thousand ATMs across the country to
meet all your banking needs.
Use the Free Electronic Funds Transfer (EFT) facility to transfer funds from your HDFC
Bank account to an account in another Bank at the locations as specified by RBItry to
meet all your banking needs.
Bank conveniently with facilities like Free NetBanking and MobileBanking.
Enjoy Free IVR based PhoneBanking. (Agent assisted calls will be charged*)
Get Free Quarterly Account Statements.
Access your account through a Free ATM Card.
9 Free Cash withdrawals per Quarter at Branch and HDFC Bank ATMs.
3) 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.
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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.
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.
4) 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 astandard offering )
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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:
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.
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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.
Enjoy preferential rates on Loans Against Shares, New Car Loans and Used Car Loans,
Consumer Loans and Personal Loans.
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F)No Frills salary a/c:
Features & benefits
Bank conveniently with facilities like Free NetBanking and MobileBanking.
Use the Free Electronic Funds Transfer (EFT) facility to transfer funds from your
HDFC Bank account to an account in another Bank at the locations as specified by
RBI.
Enjoy Free IVR based PhoneBanking. (Agent assisted calls will be charged*).
Get Free Quarterly Account Statements
Access your account through a Free ATM Card.
Enjoy free Cash Deposits at Branch/ATM.
Free Cash withdrawals per Month at Branch and HDFC Bank ATMs
5)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
6)PENSION SAVING ACCOUNT:
Features & benefits
The Pension Saving account is a Zero Balance Account.
Timely credit of receivables
Free International Debit Card.
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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.
7)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.
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.
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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
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,
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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.
3) Premium Current a/c:
A Current Account with the benefits of accessing your account from a large network of
branches, and through direct access channels - the phone, mobile, Internet and through the ATM.
Features & benefits
Convenient Inter-city banking across more than 185 cities.
FREE ATM Card to access your account from the wide network of HDFC Bank ATMs,
across the country.
Enjoy facilities like 24-hour PhoneBanking,NetBanking and MobileBanking.
Automatically transfer funds from your Fixed Deposit to your Current Account in times
of need
FREE Funds Transfer* across all locations in the HDFC Bank network up to a total
value of Rs. 10 lacs per month, (except Dahej), any incremental amount above Rs.10
Lacs will be charged @ Rs.1.50 per Rs.1000/-
4)Regular Current a/c:
A Current account is ideal for carrying out day-to-day business transactions. With the HDFC
Bank Regular Current Account, you can access your account anytime, anywhere. Withdraw and
deposit cash, issue and encash cheques, make balance-inquiries or ask for mini statements, and
even request for cheque books any time, anywhere.
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Features & benefits
Enjoy FREE 24-hour PhoneBanking, NetBanking and MobileBanking that helps you
check your balance, find out the status of your cheque or stop cheque payment.
Sweep-In Account With the Sweep-In Facility you can automatically transfer funds from
your Fixed Deposit to your Current Account in times of need.
Attractive rates for inter-city/inter-branch transactions Your funds will be transferred
at Rs.1.50/- per Rs.1000/-. The minimum charge is Rs. 50/-. You can also deposit or
withdraw cash for an additional charge of Rs. 2 per Rs. 1000/- (on full amount, if amount
is more than Rs. 50,000) at branches other than the branch where you have opened your
account
5) Reimbursement Current a/c:
No more paperwork, no more receipts to keep track of - a hassle-free account that allows you
to deposit the reimbursements you receive from your company on a monthly basis.
How to Open a Reimbursement Account
Procure an Account Opening Document (AOD) from HDFC Bank. (If you have just
joined, first request your company to open up a Salary Account for you).
Mention your Salary Account number and your Debit Card number on the AOD so that
your Debit card can be linked to both, your Salary Account as well as your new
Reimbursement Account.
.Features & benefits
Easily distinguish between reimbursements and basic monthly salary.
Choose from either your Salary Account or your Reimbursement Account when
withdrawing cash from HDFC Bank ATMs.
Utilise Net Banking, Phone Banking and Mobile Banking facilities.
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Receive half-yearly statements of all your reimbursements, thus doing away with filing
individual receipts.
No need to maintain a minimum balance (Zero Balance Account)
Receive a separate cheque book (on request) for your Reimbursement Account
6) RFC-Domestic a/c:
How to Open a RFC Domestic Account
Choose the currency in which you wish to operate.
Open your account with an initial amount as per the following-US Dollar = 250 | Great
Britain Pound = 200 | Euro = 250 and maintain an Average Quarterly Balance of the
same amount.
FIXED ACCOUNT
Super saver a/c:
Features & benefits
It's like two Accounts working in tandem to give you better returns.
Choose between a Savings Account orCurrent Account to link to your Fixed Deposit.
Avail an overdraft facility to supplement your household or business needs
Pay back with interest only on the drawn amount, while the remaining Fixed Deposit continues
to earn you interest.
Flexibility in altering period of deposit, maturity and payment instructions, principal amount and
rollover mode.
Sweep in a/c:
Features & benefits
Choose between a Savings Account or Current Account to link to your Fixed Deposit.
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Earn higher interest on the money till it is swept-in, while the remaining Fixed Deposit
continues to earn you interest.
Only an exact amount required to make up for the deficit in the Savings account is
withdrawn from your Fixed Deposit (units of Re. 1/-) thereby minimising interest loss.
Multiple deposits can be linked to the Savings account.
Flexibility in altering the period of deposit, maturity and payment instructions, principal
amount and rollover mode.
DEMAT ACCOUNT:
HDFC BANK is one of the leading Depository Participant (DP) in the country with over 8 Lac
demat accounts.
HDFC Bank Demat services offers you a secure and convenient way to keep track of your
securities and investments, over a period of time, without the hassle of handling physical
documents that get mutilated or lost in transit.
HDFC BANK is Depository particpant 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 EMIs.
One of the lowest interest rates.
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Hassle free loans - No guarantor/security/collateral required.
Speedy loan approval.
Convenience of service at your doorstep.
Customer privileges
HOME LOAN
Features & benefits
Home Loan - We offer home loans for individuals to purchase (fresh / resale) or
construct houses. Home loans can be applied for individually or jointly. HDFC finances
up to 85% maximum of the cost of the property (Agreement value + Stamp duty +
Registration charges).
Home Improvement Loan - HIL facilitates internal and external repairs and other
structural improvements like painting, waterproofing, plumbing and electric works, tiling
and flooring, grills and aluminium windows. HDFC finances up to 85% of the cost of
renovation (100% for existing customers).
Home Extension Loan - HEL facilitates the extension of an existing dwelling unit. Allthe terms are the same as applicable to Home Loan.
Land Purchase Loan - Be it land for a dream house, or just an investment for the future,
HDFC Land Purchase Loan is a convenient loan facility to purchase land. HDFC finances
up to 70% of the cost of the land (Conditions Apply). Repayment of the loan can be done
over a maximum period of 10 years.
Choose from Fixed Rate or Floating Rate with options to structure your loan as Partly
Fixed or Partly Floating.
Flexible repayment options to suit your individual needs.
Loan cover Term Assurance Plan - HDFC Standard Life Insurance Company Ltd. offers
an insurance plan*, which is designed to ensure that life's uncertainties do not affect your
family's interests and your precious home. LCTAP provides a lump-sum payment on the
unfortunate demise of the life assured.
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NEW CAR LOAN
Features & benefits
Covers the widest range of cars and multi-utility vehicles in India.
Avail 100% finance on your favourite car
Flexible repayment options, ranging from 12 to 84 months.
Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your
annual income (for self employed professionals).
Speedy processing - within 48 hours
Repay with easy EMIs.
Attractive car loan plans - To Fastrack your loan, just choose the plan that is right for
you.
Attractive Interest rates
USED CAR LOANS
Features & benefits
Choose any car manufactured in India within a certain age.
Borrow up to 80% of the value of the car
Flexible repayment options, ranging from 12 to 60 months.
Borrow up to 3 times your annual salary (for salaried professionals) and 6 times your
annual income (for self employed professionals).
Available for almost all car models at attractive interest rates.
Repay with easy EMIs.
Attractive car loan plans - To Fastrack your loan, just choose the plan that is right for
you.
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Additional loan on existing loan - If you are a existing HDFC Bank Auto loan customer
with a clear track record of 12 months or more, then you can get an additional loan to the
extent of your existing loan amount at attractive rate of interest.
TWO WHEELER LOAN
100 CC?180 CC?Or maybe a 500 CC? Whichever the bike, our Two Wheeler loan is the
answer. With quick approvals, flexible payment options and easy repayment.
Features & benefits
Flexible repayment options, ranging from 12 to 48 months available even at the point of
purchase
Repay through post-dated cheques with easy EMIs. Calculate your EMI
Hassle free loans - No guarantor required.
Speedy loan approval.
Available for almost all models at attractive interest rates
OVERDRAFT AGAINST CAR
Need extra cash? Want a lower rate of interest than a personal loan? Have a car to
yourname?
With HDFC Bank's Overdraft Against Car, one can get an overdraft against car and utilise the
money for personal or business needs.
Features & benefits
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
EXPRESS LOAN
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House repairs? School admission? Sister's wedding? HDFC Banks now offer Express Loans
to help fulfill all these needs. The procedure is simple, documentation is minimal and approval is
quick.
Features & benefits
Borrow from Rs. 10,000/- to 75,000/- for any purpose depending on your needs.
Flexible repayment options, ranging from 12 to 36 months.
Repay with easy EMIs.
One of the lowest interest rates in the market.
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
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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
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 recognised 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.
CONSTRUCTION EQUIPMENT FINANCE
Forklifts?WheelLoaders?Excavators?
If some one is looking for finance to buy construction equipment. HDFC bank offers hassle-free
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Construction Equipment Loan with the best terms for funding at the most attractive rates in
India.
CARDS
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
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.
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.
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
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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 Traveller's 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 hospitalisation cover of Rs 50,000 absolutely free on the card.
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.
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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 airmiles
You can redeem your accumulated reward points for airmiles 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
only a full waiver of the fuel surcharge that would be normally applicable otherwise, you also get
the benefit of earning reward points on these spends.
Lost card liability
In case you lose your card, intimate us immediately. If any fraudulent transactions happen after
you have intimated to us, you are fully absolved of any liability on those transactions up to Rs.
2.00 lacs.
Interest free credit facility
Your Card now gets you the highest Free Credit Period of upto 55 days from the date of purchase
(subject to the submission of the charge by the Merchant).
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VALUE PLUS CREDIT CARD
It's power packed with a host of unmatched features that provides your family with true Value
and savings. No wonder we call it the HDFC Bank International Value Plus Credit Card.Like the
name suggests, the Value Plus Credit Card brings you added value unlike any other card. It is a
Guaranteed Cash Back card which enables you to earn up to 5% Cash Back on your spends.
Features & benefits
Children Future Secured
The happiness and the well-being of your children is your most important responsibility. HDFC
Bank values your commitment and has designed a comprehensive insurance package of Rs. 1
Lakh enabling your children to continue their education in the unfortunate event of loss of your
life due to accident.
Household Insurance
HDFC Bank Value Plus Credit Card also comes with a comprehensive House Hold Insurance
Policy that covers damage caused to household contents by fire and burglary up to a value of Rs
1 Lakh.
Worldwide acceptance
The HDFC Bank International Value Plus Credit Card is accepted at over 23 million Merchant
Establishments around the world, including 110,000 Merchant Establishments in India.
Cash Advance
Just step into any one of our ATMs or VISA Member ATMs and withdraw cash up to 30% of
your credit limit at a very nominal charge.
Accidental Death
In case of death in an air accident your nominated next of kin will receive a compensation of
Rs.2,00,000. And in case of death in a rail or road accident, your nominated next of kin will
receive a compensation of Rs.1,00,000.
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HEALTH PLUS CREDIT CARD
Imagine a Credit Card that takes care of your financial health as well as your family's health and
fitness. This is not just a card but a guarantee of a healthy and secure future.
Features & benefits
Cashless Mediclaim
This card comes with a free cashless mediclaim cover of Rs.50,000 plus a critical illness cover of
Rs.1.5 lakhs. The critical illness cover includes open heart surgery, cancer, kidney failure and
vascular stroke. You can avail cashless mediclaim facility at any of more than 3000 networked
hospitals of the Third Party Administrator (TPA) across the country.
Extra protection for your family-Add-on FloatCover
You have the option of extending the Rs.50,000 mediclaim plus the critical illness cover of
Rs.1.5 lakhs cover to the add-on cardholders, be it your spouse, children, brothers or sisters.
What's more, the add-on cardholders can also avail the discounts at participating hospitals.
Protection through insurance
The HDFC Bank Health Plus International Credit Card offers you a comprehensive insurance
package at no additional cost. In case of death in an air accident, the nominated kin will receive a
compensation of Rs.10 lakhs. In the case of a rail or road accident the nominated kin will receive
a compensation of Rs.2 lakhs.
Cash Advance
Just step into any one of our ATMs or any ATM displaying MasterCard logo or Maestro Cirrus
logo and withdraw cash up to 30% of your credit limit at a very nominal charge (Please refer to
the Schedule of charges).
Third Party Administrator(TPA)
The TPA is an intermediatery between the hospital, the Insurer and the cardmember. Under the
TPA system, the mediclaim policyholders need not pay the medical bills upfront. Instead the
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settlement is to be done between the hospital and the TPA. For the customer, medical
expenditure becomes a cashless transaction. For the HDFC Bank Health Plus International Credit
Card, the insurer United India Insurance company (UIIC) has appointed Family Health Plan
Limited (FHPL) as the TPA.
DEBIT CARDS
What if you could carry your bank account with you? HDFC Bank Debit Cards give you
complete and instant access to the money in your accounts without the risk or hassle of carrying
cash. Choose from:
1) Classic Cards (Easy shop International Debit Card)
2) Specialised Cards(Easy shop Womans Advantage Debit Card)
3) Premium Cards(Easy shop Gold Debit Card)
Easy shop International Debit Card
Features & benefits
Daily Limits: Rs. 15000 at ATMs for Withdrawal and Rs. 25000 at merchant
establishments for shopping.
Access your bank account at over 8,00,000 Visa/Maestro/Cirrus ATMs in India and
abroad.
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Shop at more than 3,50,000 outlets in India and 13 million worldwide. The amount is
debited directly to your account.
Use your card overseas. Your account is debited in Rupees regardless of the currency in
which you spend.
Worldwide assistance from Visa and MasterCard on your card.
Easy shop Womans Advantage Debit Card
HDFC Bank Easy Shop Woman's Advantage Debit Card is India's first Woman's Debit Card of
its kind. Not only does it replace your ATM card, it also opens a world of privileges that match
your status and lifestyle.
Features & benefits
Cash Back of Re. 1 for every Rs. 200 spent: For every Rs. 200 that you wil