Hdfc Bank - Leading Bank in India

HDFC Products

HDFC Bank caters to the banking requirements of every individual by offering a host of products and services. The following products and services are offered by the bank under its Retail Banking Solution:

Accounts & Deposits:

Under this head, the HDFC Bank offers a range of accounts and deposit accounts to meet everybody’s requirements be it a simple saving account or a salary account, a current account or a premier account, a fixed deposit account or a recurring deposit account, all types of accounts are available with the HDFC bank.

HDFC Bank Savings Account

Everyone needs a savings account to store away the surplus cash. The bank offers savings accounts under various types starting from basic accounts to premium accounts with variety of features. The interest rates on the Savings Account are 3.5% p.a. which is calculated daily on the end of day balance. The following accounts and their respective interest rates are mentioned underneath:

• SavingsMax Account
• Regular Savings Account
• Women Savings Account
• Kids Advantage Account
• Senior Citizens Account
• Family Savings Group Account
• Basic Savings Bank Deposit Account
• Institutional Savings Account
• BSBDA Small Account

HDFC Bank Salary Accounts

The bank offers multiple types of salary accounts to suit the needs of all types of corporates. The salary accounts offer various features to the accountholders like free insurance coverage. The different types of Salary Accounts are:

• Premium Salary Account
• Regular Salary Account
• Defence Salary Account
• Salary Family Account
• Classic Salary Account
• Reimbursement Account
• Basic Savings Bank Deposit Accounts Salary

Current Accounts

Current accounts are required by businessmen and professionals who have regular transactions through the bank. The account deals mainly in liquid deposits and allows unlimited number of transactions every day like funds being withdrawn or cheques being written against the account without worrying about the balance in the account. Professionals, traders, SME businessmen, agricultural businesses can avail various benefits like fund transfers between all HDFC Accounts, free local collections through cheque and fund transfers as well as easy inter-city banking. Moreover, the bank also offers a range of Current Accounts to suit individual preferences like:

• ULTIMA Current Account
• Supreme Current Account
• Apex Current Account
• EZEE Current Account
• Max Current Account
• Agri Current Account
• Plus Current Account
• Current Account for Hospitals and Nursing Homes
• Trade Current Account
• Current Account for professionals
• Premium Current Account
• Merchant Advantage Plus Current Account
• Regular Current Account
• Merchant Advantage Current Account
• Flexi Current Account
• Institutional Current Account

Deposits

Individuals who wish to save money for a longer term with a view to earn a higher rate of interest seek to invest money in term deposit accounts which guarantee higher interest rates. HDFC Bank also offers

various types of deposit accounts promising high interest rates for customers seeking deposit accounts. Here are the deposit accounts available with the bank:

• ULTIMA Current Account
• Supreme Current Account
• Apex Current Account
• EZEE Current Account
• Max Current Account
• Agri Current Account
• Plus Current Account
• Current Account for Hospitals and Nursing Homes
• Trade Current Account
• Current Account for professionals
• Premium Current Account
• Merchant Advantage Plus Current Account
• Regular Current Account
• Merchant Advantage Current Account
• Flexi Current Account
• Institutional Current Account

Loans:

HDFC bank is a leader in home loan sector and also offers various other kinds of loans at attractive interest rates for various needs of the individuals. The following types of loans are available with the bank:

• Personal Loan
• Business Loan
• Home Loan
• Car Loans
• Two-Wheeler Loans
• Gold Loan
• Loan against Assets
• Educational Loan
• Government Sponsored Programs
• Rural Loans

Credit cards:

The bank has a wide range of credit cards for customers which promise special offers and privileges on dining, movies, lounge access of airports, etc. The cards also offer Reward Points on every spending made by the cardholder which can be redeemed for attractive offers. The ranges of Credit Cards offered by the bank are as follows:

Super Premium Cards

There are 3 variants under the Super Premium Variety which are:

• Infinia
• Regalia
• Diner’s Club Black

Co-Brand Credit Cards

These cards are offered in partnership with Jet Airways and Times Group which offer special discounts on airline travel through Jet Airways and offers on dining and movie tickets. The range of co-brand cards include:

• JetPrivilege HDFC Bank World
• JetPrivilege HDFC Bank Platinum
• Platinum Times Card
• Titanium Times Card

Professional Credit Cards

Credit cards issued specifically to Teachers with best lounge programs and freedom to fill fuels across any fuel stations respectively.

Teacher’s Platinum

Cashback cards

The specialty of these cards is that the card promises cash back on everyday spends in the form of Reward Points which can be redeemed to get cash back and also zero fuel surcharge. The range of cash back cards includes:

Money Back

Premium Cards

Credit cards offer premium range of offers and discounts on dining, entertainment and complimentary access to airport lounges. The premium range of credit cards includes the following types of cards:

• World MasterCard
• Diners Club Premium
• Diners Club Rewardz
• Visa Signature

Solitaire

It is a premium card for women customers with exclusive offers and rewards.

Commercial Cards

A range of credit cards especially designed for business usage offering fuel surcharge waiver, lounge access to airports, travel and entertainment benefits and also air tickets discounts. The range of business cards includes:

• Business Platinum
• Business Gold Credit Card
• Corporate Platinum
• Corporate World MasterCard
• Corporate VISA Signature
• Corporate Card
• Purchase Card
• Distributor Card

Debit Cards:

HDFC Bank offers Debit cards with every Savings Account to customers which is safer than carrying cash because they require a PIN every time they are used, they provide great discounts and cash back on fuel, shopping, dining, entertainment, etc. and are used across almost all outlets for payment. The ranges of debit cards issued by the bank are:

• EasyShop Platinum Debit Card
• JetPrivilege HDFC Bank World Debit Card
• EasyShop Titanium Royale Debit Card
• EasyShop Titanium Debit Card
• EasyShop Debit Card
• EasyShop Business Debit Card
• EasyShop Women’s Advantage Debit Card
• EasyShop NRO Debit Card
• EasyShop Imperia Platinum Chip Debit Card
• EasyShop Gold Debit Card
• RuPay Premium Debit Card

Demat Account:

HDFC Bank issues Demat Account for investors like traders, long term investors as well as beginners for a flexible and customized solution. The demat account offered by the bank is safe and dependable for buying and storing a customer’s equity investments, mutual funds, IPOs, ETF Exchange Traded Funds like Gold and Index, bonds and NCDs. The account can also be opened online and the types of demat accounts offered are as follows:

• Demat Account
• 2 in 1 Account
• 3 in 1 account

Investments:

HDFC bank deals in various investment avenues to complete the financial portfolio of the customer like Mutual Funds, Life Insurance products and General Insurance Products. The investment products are further subdivided into the following categories:

• Mutual Funds
• Equities & Derivatives through HDFC Securities Trading Account
• IPO Application through ASBA (Application Supported by Blocked Amount)
• Investment in Gold through Mudra Pure Gold Bars which come as 24 Karat pure gold bars of 5g, 8g, 10g, 20g, 50g and 100g with Assay Certification and tamper proof packing
• Investment in Silver through Mudra Silver Bars which are available in 50g and 100g with Assay Certification and tamper-proof certified packaging.
• 8% Savings Bond which are risk-free and can be bought with a minimum investment of Rs.1000
• Sec 54 EC Capital Gains Bond with a maximum investment of 50 lakhs and tax exemption on capital gains
• Inflation Indexed National Savings Securities Cumulative (IINSSC) with a minimum investment of Rs.5000 and a maximum of Rs.5 lakhs

Insurance:

HDFC Bank offers both life and non-life products to its customers. The life insurance products are issued in association with HDFC Life Insurance Company Limited and the non-life insurance products are issued in association with HDFC Ergo.

Health Insurance falls under the purview of general insurance and four types of health insurance plans are offered by the bank.

Motor Insurance is offered to customers in partnership with HDFC Ergo and there are two types of motor insurance plans available.

Two Wheeler Insurance is an insurance plan for two-wheeler. It has a provision of cashless claim across 1600+ network garages throughout the country.

Travel Insurance is an insurance plan for domestic and international travel be it for business or leisure purposes. The plan covers emergency medical expenses, emergency medical evacuation, repatriation of remains, emergency dental expenses, hospital cash, accidental death and permanent total disability while flying in a common carrier, personal accident, flight delay, loss of baggage and personal documents, delay of checked-in baggage, personal liability, financial emergency assistance, contingency travel benefits and hijack distress allowance.

Home Insurance is an insurance policy issued to protect the home as well as its contents. The plan covers risk against fire, lightning, explosion, flood, inundation, storm, riot, strike, earthquake, terrorism, burglary and theft with coverage for 1-5 years.

Forex:

Now foreign exchange transactions have become easier with HDFC Bank’s Forex Services. The bank offers foreign exchange services from currency notes to Traveller’s Cheques and foreign travel cards to remittances. So whether the customer is a student travelling abroad for higher studies or already studying abroad or remitting money for business purposes, HDFC Bank is the answer to all foreign exchange related services. The bank offers the various types of Forex services under its purview.

Premium Banking:

It is customized banking experience for High Net Worth customers. Here the bank provides a dedicated Relationship Manager for delivering customized banking and investment solutions. The premium banking concept has three programs which are as follows:

Imperia: an Imperia Clients Relationship Manager is assigned to each customer who offers personalized solutions for all of the customer’s financial needs like financial products advice, advice on loan and other banking products. The client gets exclusive Imperia Phone Banking Service, relationship pricing, HDFC bank Premium Credit Card, HDFC Bank Imperia Platinum Chip Debit Card, Imperia magazine and digital convenience with NetBanking, Mobile Banking, Smart Buy, etc.

Preferred: a dedicated Relationship Manager taking care of your family’s banking needs, comprehensive business banking solutions like business loans, working capital overdraft, commercial vehicle loans, forex services, etc. The Preferred feature also offers relationship based pricing on variety of products like loans, demat accounts, forex services, etc., premium Credit Cards from HDFC Bank, Preferred Easy Shop Platinum Debit Card, customized investment solutions across equities, derivatives, debts and mutual funds and also banking convenience through HDFC branch and ATM network, Phone Banking, Mobile Banking or NetBanking.

Classic: a dedicated personal banker for you and your family, relationship based pricing on a number of products like loans, preferential forex rates, Demat/HSL transactions cost and Locker, HDFC Bank Credit Cards, EasyShop Platinum Debit Card, combined monthly statement and e-newsletter.

Private Banking

HDFC Bank’s team of expert Financial Advisors and Relationship Managers are engaged in giving a premier banking experience to a select group of individuals who qualify for private banking provided by the bank. Customers are offered a variety of banking services and investment options like direct equity, mutual funds, fixed income products, insurance, private equity, structured products and real estate.

Fund transfer: HDFC Bank allows various categories of Fund Transfer options for safe and secure fund transfers which make banking easy. The fund transfer options are:

E-Monies National Electronic Funds Transfer which is easy, fast and convenient and supports fund transfers from any bank branch to any other bank branch anywhere in India.

RTGS Fund Transfer: Real Time Gross Settlement is the fastest form of inter-bank fund transfer in real time which is speedier, faster and has no geographical limits.

Visa Card Pay: a facility used to pay multiple Visa Credit Card bills issued by any bank form the comfort of one’s home and the payment is safe and charges at a negligible fee.

IMPS Immediate Payment Service from HDFC Bank is an instant real time inter-bank electronic fund transfer service which can be done even on Sundays or Bank holidays or late at night.

Online Banking: with an increasing trend of internet usage, everything has been digitalized and the bank is not behind in this race. The bank offers the facility of Online banking to its customers which is safe and reduces unnecessary hassles of visiting the branch to carry out any transaction. Online banking service offered by HDFC Bank includes:

Net Banking: Net Banking offers a host of banking transactions from the comfort of the customer’s home. One can check the bank account balance, book a Fixed or Recurring Deposit, recharge the mobile or DTH Connection, paying off utility bills, paying taxes, applying for IPO, invest in Mutual Funds online to name a few. The process is fast and completely secured without having to worry about any fraud or theft.

Credit Card Net Banking: through this facility the customer can view the credit card activities online, pay the credit card bills, view Credit Card Statements online, know the unbilled transactions and get the complete account information

Email statements: a savings or a current accountholders are eligible to get their account statements on their email id. The Savings accountholders get a monthly statement and the Current Accountholders get daily, weekly or monthly statements. The statements are free of cost and display all the relevant transactions of the relevant period.

Loan accounts online: this feature enables the bank to provide post loan services to the customers. Loan customers of the bank can log in and view their loan summary, transaction history and loan account details.

Phone Banking: the bank extends banking information to your phone where information is available at the end of a simple phone call. Phone banking services include:

Mobile Banking: by simply downloading the bank’s app on your smart phone, you can avail of over 75 transactions. The application is secure and fast.

Insta Alerts - SMS & Email: your account transactions also generate a SMS or email alert where any debit transaction, credit transaction and maintenance of account balance is alerted to the customer if registered.

Phone Banking: the customer can also call the bank and effect transactions over the phone. Transactions like reporting loss of ATM, credit, forex or prepaid cards, checking account balance and cheque status, ordering cheque books, stopping cheque payments, credit card related queries can all be solved by a call to the bank’s phone banking division.