HDFC Personal loan

News About HDFC Bank Personal Loan

• HDFC Bank Q2 net profit jumps to Rs.5,006 crore

  HDFC Bank, one of the largest lenders in the country saw its new profit for the second quarter of the year jump 21% compared to Q2 of the last financial year. Net profits during the quarter ending September stood at Rs.5,006 crore, as against Rs.4,151 crore for Q2 of the last year.

  There was no change in the gross NPAs of the bank, which stood at 1.33%. A key contributor to the net profit was the net interest income, which stood at Rs.11,763 during the quarter. In terms of loans, personal loans accounted for 21% of the retail loan portfolio of the bank. Auto loans accounted for 20% of the same.

  In terms of numbers, personal loans saw a 37% increase to Rs.83,426 core, with auto loans being Rs.80,336 crore.

  

  13 November 2018

• HDFC’s retail lending rate rises by 10 bps

  HDFC announced an increase of 10 basis points (bps) on its retail prime lending rate (RPLR). For different loan slabs, the rates would range from 8.80% to 9.05%. Punjab National Bank raised its benchmark lending rates for short-term loans by 0.2%. So now the Marginal Cost of funds based Lending Rate (MCLR) for Punjab National Bank is 8.2% (previously 7.9%). The one-month tenor MCLR was earlier raised from 8.05 to 8.10.

  

  24 October 2018

• HDFC Mutual Fund Loan Launch Expected to Cause Hike in Loan Sales

  As per the statements of a senior executive of HDFC Bank, the Mumbai-based bank is clocking loan sales of around Rs.1,000 crore every month through digital platforms. With the recent launch of an online loan against mutual funds in partnership with CAMS, the loan sales of the bank are expected to further increase in future. HDFC Bank has already approved loans worth Rs.10,000 crore against insurance policies and mutual funds. Due to the added convenience of receiving funds within a few minutes as opposed to a few days, the launch of online credit offering will help the product portfolio to grow manyfold.

  Under this scheme, an investor can withdraw an a loan amount equal to 50% of his or her mutual fund holdings in the equity as well as debt segment. The rate of interest charged for such a loan will be up to 11%.

  

  30 May 2018

• Loan and deposit rates to increase: MD of HDFC

  Managing Director of HDFC Bank, Aditya Puri, recently announced that loan and deposit rates will most likely increase. The decision regarding the increase will be made after the bank’s asset-liability committee (ALCO) has a discussion. HDFC Bank increased its MCLR by 10 bps in the month of February 2018. A few other top lenders such as ICICI Bank, State Bank of India (SBI), and Punjab National Bank (PNB) recently increased their marginal cost of funds-based lending rates (MCLR) for 1 year by 10 to 20 basis points (bps). The MD of HDFC also said that the demand for working capital has increased off late.

  

  12 March 2018

• HDFC Bank makes a 20% rise in second quarter net profit

  According to sources, HDFC Bank attained a 20% rise in its second quarter net profit in spite of a near-doubling in its provisions. The net profit of the bank reached Rs.4.15 crore which was Rs.3.45 crore last quarter. The net interest income of the bank went up by 22% to reach Rs.9.75 crore. The other income increased to reach Rs.3.6 crore. The structure of current account, savings account (CASA) deposits among the overall deposits of the bank increased from 40% last quarter to 42.9% this quarter.

  

  30 October 2017

• HDFC Bank Shrinks its ATM Network

  HDFC Bank has decided to reduce its ATM network. The bank has been shutting down ATM machines which has not been getting enough footfalls. HDFC attributes this change to customers favouring electronic payments over cash. According to the deputy MD of HDFC Bank, Paresh Sukthankar, people who earlier used their debit cards only for cash withdrawals, are now using them at vendor POS. The bank is taking advantage of this change in behaviour to close down a few ATM machines. It plans to shift the machines to other centres where they might be more useful. As of the end of 2016-17 financial year, the distribution network of HDFC was at 12,260 ATMs and 4,715 branches in 2,657 centres. By the end of FY 2017-18 first quarter, the number of ATMs had reduced to 12,220 ATMs by 40 machines, although the branch number had increased to 4,727. ICICI, too, had shrunk its ATM network by almost 700 ATMs. However, most of these machines were brown label, display the bank's brand but owned and managed by service providers. However, the banking industry is continuing to increase the number of ATMs, although at a much reduced pace. Since last December, the number of ATMs has increased only by 2,616.

  

  2 August 2017

• HDFC to provide Instant Loans to Online Shoppers

  One of the largest players in the lending market, HDFC Bank has come up with technical innovations to expand its lending businesses to the digital world as well. HDFC is planning to provide instant loans to online shoppers, using its strong technology backbone. HDFC is planning to tie up with various online merchants and offer instant loans to those shopping or browsing for products online. The bank has developed a program to provide loan service to both its current and potential customers. It enables the bank to appraise a potential borrower instantly by pulling up social data and credit scores through APIs (application programming interfaces) in real time. Simultaneously, it delves into analytics to ensure there’s no duplication, and approves loan quantums between Rs.50,000 and Rs.5 lakh instantly. According to some sources, HDFC Bank, which has been providing automated retail loans to its customers, has built on their capacity to extend instant loans to non-customers as well. The same technology is being used to provide instant online credit with the backing of physical credit cards. HDFC Bank is also reinventing its 4.22 lakh (PoS) terminals to integrate multiple digital payments options like the UPI, Bharat QR, Aadhaar-based payments, credit/debit cards and HDFC’s own PayZapp wallet. All of its card swiping machine would be upgraded eventually to enable multichannel payments.

  

  19 July 2017

• HDFC Bank will leverage the digital platform to focus on growth

  HDFC Bank will be using digital platforms to increase growth in semi-urban and rural sectors. According to its 2015 - 2016 annual report, the bank looks poised to achieve sustained growth in wholesale and retail segments. Recently, HDFC Bank had launched digital products like loans at ATMs, 10-second personal loans and missed called recharge. The bank will be achieving the growth through its core values of operational excellence, people, sustainability, and customer focus and product leadership. According to the Institutional Investor magazine, HDFC Bank is the most honoured company with the bank's Managing Director, Aditya Puri being named as the Best Chief Executive.

  

  14 July 2016

• HDFC Expands Network to Northeast, Sets up 100th Branch

  HDFC, one of the nation's foremost banking institutions, recently recorded another notable milestone by expanding its presence in the north east region of India. The bank which crossed the 100th branch mark in the northeast region has opened 16 new branches alone on the financial year 2015-16. The total count of branches operative in the 7 northeastern states is 109, an achievement which has definitely placed the bank amongst the ranks of top performing private sector banks in the country. This expansion has taken place following the directive proposed by the bank's board to extend and make new age banking facilities and services available to individuals living in far-off regions of the country. Out of the total 109 branches located in the northeast, over half of those branches are located in rural and semi-urban areas. 55 branches are located in Assam itself. The newly set up physical distribution network of HDFC bank is accompanied by a number of digital banking facilities. This will help remove restrictions of time and place and enable customers to access banking facilities anywhere and anytime with the help of ATMs, net banking and the mobile application. Customers will be able to carry out more than 200 varied kinds of transactions via net banking, over 85 kinds of transactions on the mobile app and apply for loans via ATMs. Additionally, HDFC is also working towards empowering the women in the northeast region with the help of its Sustainable Livelihood Initiative (SLI). This is a holistic approach initiative which will reach out to women by providing them with vocational training, financial know-how and basic market related knowledge, along with financial credit.

  

  17 June 2016

• Avail spot loans at HDFC Bank ATMs

  With over 11,907 ATMs and 2.27 crore customers using the bank's debit card across the country, HDFC Bank has decided to introduce spot loans through ATMs. With this functionality into operation, customers will be able to apply for and avail personal loans from the ATM kiosk itself. This move came after the bank's 10-second loan offer through the bank's portal became a huge success among its customers.

  Existing customers of the bank can avail this service of fast personal loan in the same way as withdrawing money from the ATM. The offer can be seen flashing on the ATM screens and with just a few clicks, a customer can withdraw the required amount. The bank has decided to initially launch this ˜Loan on ATM' service to customers holding salary or corporate accounts.

  

  16 October 2015