HDFC has followed SBI in launching a dual rate offer for Home Loans.

SBI had offered- 8% for 1st Year | 8.5% for 2nd & 3rd years | From 4th year the consumer had a choice between fixed & floating (SBI's floating rate is 275 basis pts beloe its benchmark rate)

Now HDFC has come into the market which sounds very similar- fixed rate of 8.25% till March 2012 and then a floating rate which is 500 basis points below the PLR.

HDFC had made a lot of noise about the SBI scheme when it was launched. They had attacked the scheme as being opportunistic and a sure shot path to higher default ratio in the portfolio.

September 2009 saw the Car Loans market reaching a new high with Rs 3400 Cr worth of loan disbursals. This is almost 25% higher than the monthly average taken over last 4 months.

With SBI reducing their Home loan interest rates to 8% & LIC Housing finance to 8.75%, most of the borrowers are now switching their home loans to these banks. To dissuade customers from moving to other banks HDFC has now increased the fee for switching over the loan from 2% to 3%.This prepayment fee is levied if the borrower wants to close the existing loan by transferring the loan to another Bank. This fee is levied only for their new borrowers. So borrowers who had taken a home loan before this news and if they plan to switch over their loan they will not be charged this new fee. Whatever mentioned in the agreement that amount will be applicable.

HDFC Bank Launch Meritus Scholarship Program for School Students

HDFC Bank Meritus Scholarship programme is an ambitious programme for all best & talented students. HDFC Bank would run this program in association with Horlicks

HDFC Bank gives opportunity to School students to raise their talent by providing them a scholarship.’HDFC Bank’ Meritus scholarship is for students of Class 4 to 9 across the country & will shortlist the best 5000 students for an educational scholarship ranging from Rs.2,500 to Rs.10 lakh.

A special panel of judges will evaluate the final short listed participants & decide the winners.

Evaluation will be based on

• Last 2 year performance in school

HDFC BANK LOAN AGAINST PROPERTY

HDFC BANK brings to you Loan Against Property (LAP). You can now take a loan against your residential or commercial property, to increase your business, plan a dream wedding, and fund your child's education and much more.

1. Loans from Rs. 2 Lacs onwards depending on your needs.
2. Borrow up to 50% of market value of the property.
3. Give 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
4. High tenure loans for ease of repayment.
5. Attractive interest rates.
6. Simple and speedy processing.

HDFC BANK HOME LOAN

HDFC Bank provides you the best features & benefits of Home Loans.

Features And Benefits

Home Loan
For individuals to purchase (fresh / resale) or construct houses. Application can be made individually or jointly.
HDFC Home Loan Documents
HDFC Home Loan Documents

HDFC Home Loan Eligibility

India’s second largest private sector lender HDFC Bank has clocked a 44.8% rise in its net profit for the third quarter. The net profit grew to Rs.621.74 Cr during the quarter ended December 31,2008 against Rs. 429.36 crore in the year-ago period.
HDFC Bank executive director Mr.Paresh Sukhtankar said that “the bank is well positioned to maintain the business growth and expects the NPA levels under manageable levels”. The lenders’s total income during the quarter rose 58% to Rs.5,407.89 crore from Rs.3,405.79 crore in the year-ago period. On the other hand, the interest income grew 63% to Rs.4,468.50 crore. The non-interest income jumped around 40% to Rs.934.4 crore from Rs.679.9 crore in the year ago period.

In last few months the loans business has seen the downtrend.But with the last three weeks of Inflation data showing no upward trends, analysts feel the home loan rates has peaked.
With th festive season round the corner, market expects a demand in Housing loans.

During the period of liberalization of the banking sector HDFC Bank was amongst the first to receive an approval to set up a bank in private sector, Housing Development Finance Corporation Limited (HDFC Ltd.) by RBI in August 1994.

HDFC bank initiated its operations in January 1995 as a Scheduled Commercial Bank. Bank has its presence countrywide with a network of 761 branches & 1977 ATMs in 327 India towns & cities. Head office located in Mumbai & branch offices in all the major cities of India like Ahmedabad, Bangalore, Chennai, Hyderabad, Delhi, Kolkata, & many more….