HDFC Car loan EMI calculator – A tool must look out for

Are you planning to bring in a new car to your home and give a fascinating fit to your family? Is the loan factor stopping you from doing the same? Then you should give a look at the HDFC Car loan EMI Calculator and formulate how you can repay loan in a minimum amount of time. There are few fields that you need to build in so that the tool can come up with attractive offers for you. The simple questions like the place you belong to, your gross monthly salary, the car you are looking to buy and other such easy to fill in fields will make your job easy to avail the loan.

Depending on which car you want to buy, HDFC Car loan EMI Calculator provides you with options to pay EMI under Rs 10000 a month as well.

Summary: HDFC Car loan EMI Calculator provides you with wide range of options to pay your EMI amount.

HDFC secures place amongst world’s most ethical firms

HDFC officials have a reason to smile and to be proud of as they have been listed amongst the world’s most ethical companies fro this year and most importantly it is the only firm form India that managed to secure a place in the list.

The Ethisphere Institute prepared a list of 110 organizations of the World’s Most Ethical Companies, short listing from a total of nearly 3000 companies from more than 100 countries there were nominated or that nominated themselves for the consideration.

This designation is awarded to the companies that have been following ethics and compliance programmes is far better way then the other involved in the same industry.

The CEO and Vice–Chairman of HDFC Bank Mr. Keki Mistry said “It obviously feels nice to be one of the world's most ethical company and the only one from India. HDFC is one of the most trusted brands in the country and for a financial services company it is very important that people perceive it as ethical."

HDFC Bank launches easy-to-remember phone number

To make customer care service of the bank more user friendly, HDFC Bank has launched an easy to remember phone number for the customers.

The number for the customers in Mumbai, New Delhi and NCR, Bangalore, Chennai, Hyderabad, Pune, Ahmedabad, Kolkata is 61606161 and for those in Chandigarh, Jaipur, Lucknow, Indore, Kochi, Patna (Bihar and Jharkhand) the number is 6160616.

The customers can call on the new numbers for their queries and all banking needs. The bank offers this service in 9 regional languages.

HDFC Bank upgrades phone banking service

HDFC Bank yesterday announced that it has fully equipped the phone banking facility as per the guidelines from the Reserve Bank of India. In order to make transactions over phone safer the Central Bank introduced several new guidelines and instructed the banks to upgrade their systems accordingly.

According to the new guidelines, the customers will require a password generated by the bank each time they make a transaction over phone. Earlier the Reserve Bank decided January 1 as the deadline for the banks to upgrade their systems but some banks asked for more time, so the Central Bank decided February 1 as the revised deadline.

A senior bank official said "Phone banking has emerged as one of the key delivery channels at HDFC Bank .With technological advancements, it is now possible to offer single set of phone numbers across multiple locations."

HDFC forays into education sector

HDFC Bank recently forayed into the education sector. The bank inked deal with Indus World Schools. The deal is believed to be ranging somewhere between 40 to 50 crore.

The Indian schooling sector is believed to be amongst one of the fastest growing in the world. Last year the Indian market accounted for 40 percent of the total education market across the world.

Managing Director of HDFC Bank Renu Sud Karnad said “HDFC and CL have a lot to gain from this relationship. Together, we can make a significant positive impact on the quality of school education in the country.”

Indus World Schools is a unit of education company Career Launchers. Currently IWS comprises of 14 schools in total across the country. IWS also contributes to the social cause as it runs schools for underprivileged students in Andhra Pradesh and in Gujarat and Punjab through Government partnerships. The group plans to take the total number of schools to a staggering 75 in next five years.

HDFC judged as most popular bank for 2010

According to an online survey HDFC Bank was judged as the most popular bank for the year 2010. The survey was based on the number of visitors that visited the web site of the bank per day nad rakings from various ranking portals and analytical data

According to the web site 417360 visitors visited the web site of the bank per day. The largest lender of the country was judged in the fourth place according to the survey.

HDFC Bank was followed by ICICI Bank and Axis bank in the charts. With 1.32 lac visitors the State Bank of India topped the PSU segment.

Citi Bank that is in headlines these days due to the scam topped the chart in the foreign banks category. Union Bank of India was judged as most popular nationalized bank while Bank of India as most popular nationalized bank of the country.

HDFC Bank revises its BPLR by 50bps

HDFC Bank has again revised its benchmark prime lending rate (BPLR). Lender has raised its BPLR by 50bps to 16.25 percent. The revised rates will be applicable from immediate effect.

Thus all BPLR-linked loans, including vehicle and personal loans, which were taken by the bank customers before July, 1 2010, will rise in respective proportions.

Under BPLR the customers can avail loans at a discounted rate to the BPLR offered by the lender. As per Reserve Bank of India’s directive from July 1, 2010 all the banks have moved to the base rate system and lending loans to the new borrowers on the base rate. HDFC has set its base rate at 7.25%.

A senior bank official said due to rising cost of funds bank has raised its BPLR. Earlier bank had raised term deposit rates across various maturity periods.

The official said, “Deposit rates in the banking system could move up further by 50-75 basis points by the end of the financial year. Depending on credit demand, base rate could also come up for review in October.”

However, in the last one month almost all the banks, including the State Bank of India, Punjab National Bank, ICICI Bank, Union Bank of India and IDBI Bank have increased their BPLRs on an average by 50-75 basis points.

PNB has raised its BPLR to 11.75 per cent from 11 per cent with effect from August 1. Union Bank hiked to 12.25 per cent from 11.75 per cent with effect from August 4. SBI raised its BPLR by 50 basis points to 12.25 per cent with effect from August 17. ICICI Bank increased BPLR by 50 basis points to 16.25 per cent with effect from August 18.

All the banks have also raised their term deposit rates by 25-150 basis points across various maturity periods.

According to financial analysts, bank by rising the BPLR will be try to move the existing loan customers to the base rate. Because banks do not want to be under the burden of administering two benchmark lending rates.