Private sector lender, HDFC Bank, is likely to raise its auto loan interest rates by 0.50 per cent in the next 7-10 days, a senior bank official said on Friday.
"Borrowing rates have gone up, we are likely to raise our rates (auto loans) by 0.50 per cent in the next 7-10 days," HDFC Bank's Senior Executive Vice-President, Ashok Khanna, told media here today.
Another private sector lender, Kotak Mahindra Bank, is also feeling the pressure to raise its auto lending rates, one of its senior officials said. "There is a pressure to raise our interest rates on vehicle loans but we have not yet taken a decision on it," Kotak Mahindra Bank's Head of Consumer Banking, K V S Manian, said.
Friday, August 13, 2010
Saturday, July 31, 2010
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 expand your business, plan a dream wedding, fund your child’s education and much more.
HDFC’s Loan Against Property, can be a single solution to multiple financial requirements. With convenient payback period, minimum documentation & quick approvals you can give your financial needs the advantage of your own property.
HDFC’s Loan Against Property, can be a single solution to multiple financial requirements. With convenient payback period, minimum documentation & quick approvals you can give your financial needs the advantage of your own property.
Sunday, May 2, 2010
HDFC Bank Home Loan Bonanza
Home loan giant HDFC created a sensation in the home loan market by announcing a slash in the interest rate for its home loans yesterday. It has cut down the rate of home loan for the first year from 8.75% to 8.25% per annum. This is essentially a teaser rate was used by SBI a few months back and received great response. After the first year elapses, HDFC will charge an interest rate of 9% from the customers. During that period, the customers will be shifted to a floating rate structure. That will depend on the tenure and amount of the loan.
When SBI introduced the teaser rates for its loans, the move created ripples in the market. Interestingly, it still offers an 8% interest rate for the first year but the customers have to pay higher rates for the subsequent years. Even with the new teaser rate announced, HDFC will carry on with its existing floating rate loans. It ranges from a rate of 8.75% to 9.25%, depending on the loan amount. HDFC along with the majority of lenders discontinued the teaser rates in January when interest rates began soaring upwards.
However, SBI was the lone player to stick to the teaser rate and it worked wonders for the entity. Now that HDFC has observed that rates have not grown sharply, it has re-introduced the teaser rates. The competition is quite fierce in the home loan market and with more private operators entering the market, old time players need to offer special plans from time to time to woo the customers.
When SBI introduced the teaser rates for its loans, the move created ripples in the market. Interestingly, it still offers an 8% interest rate for the first year but the customers have to pay higher rates for the subsequent years. Even with the new teaser rate announced, HDFC will carry on with its existing floating rate loans. It ranges from a rate of 8.75% to 9.25%, depending on the loan amount. HDFC along with the majority of lenders discontinued the teaser rates in January when interest rates began soaring upwards.
However, SBI was the lone player to stick to the teaser rate and it worked wonders for the entity. Now that HDFC has observed that rates have not grown sharply, it has re-introduced the teaser rates. The competition is quite fierce in the home loan market and with more private operators entering the market, old time players need to offer special plans from time to time to woo the customers.
Saturday, May 1, 2010
HDFC Bank Is India's Top Pvt Retail Bank
HDFC Bank, the country’s second-largest private bank, has been crowned the top retail bank displacing ICICI Bank. The reason is attributed to the recovery in demand and robust economic growth during the past few months.
As per the reports, HDFC Bank has also lent more to the customers for buying homes, cars and two-wheelers. The reports say that the banking major has lent Rs 4,000 crore during the month of March alone, which is more than double of the same period last year.
The bank has also disbursed retail loans of Rs 1,800 crore, and Rs 3,000 crore in April and October respectively. It had disbursed Rs 2,700 crore loans in June 2008.
The bank did a notable job in the time when others are applying controls on the lending to the retail sector. However, the bank had more bad loans last fiscal due to global meltdown.
“This has been the best ever month for us. In March itself, we disbursed retail loans of Rs 4,000 crore and this comes on the back of January and February where the average disbursements were at around Rs 3,500 each. Each of our business in the retail side is profitable and we have shown the highest-ever profit in the retail asset business,” said Pralay Mondal, country head of retail assets & credit cards, HDFC Bank.
According to reports, ICICI Bank, India’s largest private bank, had disbursed home loans of about Rs 700 crore, auto loans of Rs 300 crore and commercial vehicle loans of Rs 200 crore. It had also disbursed property loans of about Rs 150 crore.
The bank however got out of track after 2008-09. It is now focusing on secured loans. It has also trimmed down the number of credit cards from a peak of 8.5 million units to about 5 million now.
As per the reports, HDFC Bank has also lent more to the customers for buying homes, cars and two-wheelers. The reports say that the banking major has lent Rs 4,000 crore during the month of March alone, which is more than double of the same period last year.
The bank has also disbursed retail loans of Rs 1,800 crore, and Rs 3,000 crore in April and October respectively. It had disbursed Rs 2,700 crore loans in June 2008.
The bank did a notable job in the time when others are applying controls on the lending to the retail sector. However, the bank had more bad loans last fiscal due to global meltdown.
“This has been the best ever month for us. In March itself, we disbursed retail loans of Rs 4,000 crore and this comes on the back of January and February where the average disbursements were at around Rs 3,500 each. Each of our business in the retail side is profitable and we have shown the highest-ever profit in the retail asset business,” said Pralay Mondal, country head of retail assets & credit cards, HDFC Bank.
According to reports, ICICI Bank, India’s largest private bank, had disbursed home loans of about Rs 700 crore, auto loans of Rs 300 crore and commercial vehicle loans of Rs 200 crore. It had also disbursed property loans of about Rs 150 crore.
The bank however got out of track after 2008-09. It is now focusing on secured loans. It has also trimmed down the number of credit cards from a peak of 8.5 million units to about 5 million now.
Thursday, April 15, 2010
HDFC Bank Home Loans
HDFC bank is offering home loans at very low interest rates to the Indian Residents and NRI's. People can avail HDFC bank home loans to buy a new house/flat or to rebuild an existing house.
Being one among the largest private banks in india, HDFC bank is providing home loans upto an amount of 25 lakh Indian Rupees. Persons who were aged above 21 years and who are earning an income of atleast 1.35 lakh Rupees per annum are eligible to apply homne loans from HDFC bank.
To apply HDFC bank home loans the applicants must go to the nearest HDFC bank branch office, There at the HDFC bank branch office the applicants can apply the loan application in a hassl;e free way. The applicants can also apply the HDFC bank home loans at HDFC bank official website (www.hdfcbank.com) by filling a simple form.
The HDFC home loan application will be approved an loan will be granted from HDFC bank within 24 hours if the applicant submits are required documents perfectly. The HDFC home loan borrowers can repay the home loan amount in a tenure of 5 years.
Note: This is Guest post written by the admin of Loansbuzz.com
Being one among the largest private banks in india, HDFC bank is providing home loans upto an amount of 25 lakh Indian Rupees. Persons who were aged above 21 years and who are earning an income of atleast 1.35 lakh Rupees per annum are eligible to apply homne loans from HDFC bank.
To apply HDFC bank home loans the applicants must go to the nearest HDFC bank branch office, There at the HDFC bank branch office the applicants can apply the loan application in a hassl;e free way. The applicants can also apply the HDFC bank home loans at HDFC bank official website (www.hdfcbank.com) by filling a simple form.
The HDFC home loan application will be approved an loan will be granted from HDFC bank within 24 hours if the applicant submits are required documents perfectly. The HDFC home loan borrowers can repay the home loan amount in a tenure of 5 years.
Note: This is Guest post written by the admin of Loansbuzz.com
Saturday, March 6, 2010
HDFC Bank Education Loans
The educational loans are offered by the HDFC Bank to the Indian students only. The students should seek admission to educational courses through entrance test selection process. HDFC Bank offers loans for various courses like graduation and post graduation courses, professional courses, computer certificate courses, courses conducted by IIM, IIT etc. HDFC Bank offers loans for studies abroad as well.
For the students studying in India, the maximum loan amount offered is Rs.10 lacs and for studying abroad the maximum loan amount increases to Rs. 20 lacs.
For the students studying in India, the maximum loan amount offered is Rs.10 lacs and for studying abroad the maximum loan amount increases to Rs. 20 lacs.
Monday, February 15, 2010
HDFC Bank Personal Loans
HDFC Bank Personal Loans are given to both individual and corporate borrowers. The HDFC Bank offers quick and easy personal loans that carry competitive interest rates. All financial products from HDFC Bank are made and executed according to rules formulated by the Reserve Bank of India (RBI).
HDFC Bank personal loan is available to both salaried and professional persons. Personal Loan amount varies from Rs. 1 lakh to Rs. 20 lakhs. Loan repayment tenure extends from 1 year to 5 years. HDFC Bank Personal Loan application Procedure is very simple and involves minimal documentation.
Features and benefits of HDFC Bank Personal Loan -
The loan applicant must have a minimum of 21 years and maximum of 60 years to get eligible for HDFC bank personal loan. The applicant need to earn atleast 1.5 lakh per annum to get the personal loan approved from HDFC bank.
HDFC Bank personal loan is available to both salaried and professional persons. Personal Loan amount varies from Rs. 1 lakh to Rs. 20 lakhs. Loan repayment tenure extends from 1 year to 5 years. HDFC Bank Personal Loan application Procedure is very simple and involves minimal documentation.
Features and benefits of HDFC Bank Personal Loan -
- Attractive Personal Loan Rates
- A balance transfer facility available for those who want to retire any higher cost debt
- Loans available against repayment track record of any existing Auto Loan, Personal Loan or Home Loan
- Zero balance SB account facility for Personal Loans customers
- Simple procedure, minimal documentation and quick approval
The loan applicant must have a minimum of 21 years and maximum of 60 years to get eligible for HDFC bank personal loan. The applicant need to earn atleast 1.5 lakh per annum to get the personal loan approved from HDFC bank.
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