HDFC Bank is one of the largest private sector banks in India. It has grown rapidly since it was founded in 1994 to become a leading financial institution offering a wide range of banking services.

Founded in 1994: HDFC Bank is one of the younger banks in India. It was incorporated in August 1994 as ‘HDFC Bank Limited’. The bank is promoted by the Housing Development Finance Corporation (HDFC), one of the oldest housing finance companies in India.
Headquartered in Mumbai: HDFC Bank is headquartered in Mumbai, the financial capital of India. Its corporate office is located in central Mumbai.

Key milestones:

1995: Received RBI approval to set up bank, opened first branch in Mumbai
1999: Crossed INR 10 billion in deposits
2004: Launched India’s first ATM interchange network, setting up over 1000 ATMs
2008: Opened 1000th branch
2020: Crossed INR 10 trillion in deposits

HDFC Bank Savings Accounts

Regular Savings Account: This is a basic savings account with no minimum balance requirement. You get a free ATM/debit card and cheque book facility.

Savings Max Account: This account offers higher interest rates if you maintain a minimum balance. The minimum balance requirement is Rs 25,000 for metro/urban branches and Rs 10,000 for semi-urban/rural branches.

Senior Citizen Account: This account provides additional benefits to senior citizens over 60 years of age like higher interest rates, and relaxed minimum balance requirements. Discounted locker rentals also offered.

YoungStars Account: This account is for minors under 18 years of age. It offers flexible deposits to meet the child’s future financial needs. Free ATM/debit card facility provided with guardian permission.

Interest rates offered: The interest rate offered on savings accounts varies from 3% – 6% per annum based on the type of account. Savings Max and YoungStars accounts get higher interest rates, while regular savings account offers base rate. Senior citizens also get an additional interest rate.

HDFC Current Accounts

Regular Current Account: Basic current account with cheque book, ATM/debit card, cash deposit and transfer facilities. No minimum balance required.

Premium Current Account: Offers enhanced services, relationship manager and preferential pricing on loans and investments for high net worth individuals. Higher minimum balance is required for this account.

Features and fees: Key features offered in most current accounts by HDFC are 24×7 banking through net banking, mobile banking and widespread ATM network. Some fees include cash transaction charges beyond four free transactions per month, non-maintenance of minimum balance if applicable, and charges for printed statements.

HDFC Loans

Personal Loans: Unsecured loans for various personal needs. Interest rates start at around 10.5% per annum and maximum loan available is Rs 40 lakh. Minimal documentation needed.

Home Loans: Loans for purchase, construction, extension or renovation of house property. Interest rates start at around 7% per annum. Flexible repayment up to 30 years and loan amount up to Rs 5 crore.

Auto Loans: Loans for purchase of 2-wheelers, 3-wheelers, cars, commercial vehicles. Interest rates from 7.5% to 15% based on loan amount and tenure.

Business Loans: Loans for working capital, business expansion and commercial equipment purchase. Interest rates from 16% with flexible repayment up to 7 years. No collateral required for loans below Rs 15 lakh.

Interest rates and Eligibility criteria: Interest rates vary based on loan type, amount, tenure, applicant’s credit score and income eligibility. Salaried individuals and self-employed professionals can apply for personal, home and auto loans. Minimum age is 21-24 years for different loan products. Specific business turnover and financial documents needed for business loans.

HDFC Credit Cards

Millennia Credit Card: No annual fees card for shopping and bills payment
Moneyback Credit Card: Get cashback rewards on spends
Regalia & Diners Black Credit Cards:

    • Premium cards with luxury hotel/airline privileges
    • Dynamic Pricing on fuel and railway tickets
    • Easy EMI options available

Fees include: Joining fee – Rs 500-5000, Annual fee – Rs 500-10,000 plus taxes, Cash advance fee – 2-2.5% per month etc.

Eligibility, Rewards and Benefits: Minimum income requirement is Rs 50,000-2 lakh annually. Excellent cashback and rewards offers on travel, dining, entertainment, fuel expenses etc. offered. Insurance and emergency services included along with additional privileges for premium cards.

HDFC Bank Net Banking & Mobile Banking app

HDFC’s Net Banking and Mobile Banking apps allow customers to conveniently manage their HDFC bank accounts online, avoiding branch visits for basic transactions.

Features:

      • Check account statements and transaction history
      • Instantly transfer money via IMPS, NEFT, RTGS
      • Pay utility bills and recharge mobiles
      • Book fixed deposits
      • Manage multiple accounts
      • Cheque status inquiry

DIGIPAY payment solutions

HDFC’s DIGIPAY payment gateway allows businesses to accept payments online from credit/debit cards, HDFC Bank accounts and popular wallets like MobiKwik.

Features:

      • Secure processing through encrypted gateway
      • Real-time payment confirmation
      • Integration with accounting tools
      • Multiple payment mode acceptance
      • Bulk refunds processing

HDFC Bank Customer service

Online Banking and Mobile App: Customers can use Net Banking, Mobile Banking app to check balances, transfer funds, pay bills etc. without visiting a branch. This offers convenience especially for tech-savvy and busy customers.
Phone Banking: Dedicated call centers have long operating hours to address customer queries and transactions through telephone. This assists customers who prefer human interaction.
Chat Assist: Chat based customer assistance is available through bank’s website during business hours. Queries can be answered via real-time chat.
Branch Network: Branches have customer service counters offering personalized services for accounts, loans, payments and more. This helps customers requiring in-person assistance.

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