HISTORY OF HDFC BANK
ACCOUNT FUNCTION
FOREIGN EXCHANGE SERVICES
LOAN FACILITIES
INTERNET BANKING
CREDIT CARD
ATM FACILITIES
STAFF FUNCTION
REQUIRMENTS TO OPEN AN ACCOUNT
TOPIC
HISTORY OF HDFC BANK
The full form of HDFC Bank is Housing Development Finance Corporation Limited. HDFC Bank was amongst the first to receive an in principle approval from the Reserve Bank of India to set up a bank in the private sector from Housing Development Finance Corporation Limited in1994 during the period of liberalization of the banking sector in India. HDFC was incorporated in august 1994 in the name of HDFC bank limited .HDFC commenced operation as a scheduled commercial bank in January 1995.
ACCOUNT FUNCTION
1 Deposit account a. Saving deposit Saving deposit means a form of demand deposit which is subject to restriction as to the number of withdrawals as also the amounts of withdrawals permitted by the bank during any specific period. b. Term deposit Term deposit means a deposit received by the bank for a fixed period withdraw able only after the expiry of the fixed period and includes deposits such as recurring \double benefit deposit \short deposits \fixed deposit \monthly income certificate \quarterly income certificate etc. c. Notice deposit Notice deposit means term deposit for specific period but withdraw able on giving at least one complete banking day's notice
2 Current accounts
A form of demand deposit where form withdrawals are allowed any number of times depending upon the balance in the accounts or up to a particular agreed amount
3 Demat account
A Demat account refers to dematerialized account & is an account in which the stock of investors are held in electronic form
4 Decrease account
A Decrease account is a deposit account in which case either the sigle account holder has decreased or in case of joint account one or more of joint account holders has decreased
FOREIGN EXCHANGE SERVICES
When we buy or sell foreign exchange, the bank will give us information on the services, details of the exchange rate and other charges which apply to foreign exchange transactions. If this is not possible, there is other way to work out
Following are the process to transfer money abroad
A description of the services and how to use them Details of when the money you have sent abroad should get there and the reasons for delays, if any. The exchange rate applied when converting to the foreign currency. Details of any commission or charges, which you will have to pay and a warning that the person receiving the money may also, have to pay the foreign bank charges. The bank will inform you that the information provided by you for making payment abroad is adequate or not. In case of any discrepancies or incomplete documentation, they will advice you immediately and assist you to rectify the same. If money is transferred to your bank account abroad, they will tell you the original amount received and charges if any levied. If the sender has agreed to pay all charges, the bank will not take any charges when they pay the money into your account. 7 They will guide you about regulatory requirements or conditions relating to foreign exchange services offered them when requested by you 8 All certificates required to be issued under regulatory instructions will be issued free of charge.
LOAN FACILITIES
The HDFC Bank provides different types of loans are as follows: 1. 2. 3. 4. 5. 6. 7. Personal loans Car loans Loans against shares Two wheeler loan Home loan Consumer loan Educational loan.
INTERNET BANKING
On line banking is safe & convenient as long as we take a number of simple precautions .Following r the steps to be followed Visit our internet banking site directly .avoid accessing the site through link from another site or an email and verify the domain name displayed to avoid spoof websites. Ignore any e-mail asking any password or pin and inform the bank the same to investigate. Neither the police nor the bank will ask you to reveal the online banking or payment card pins, or your password information. The banks will advice you not to use any cyber caf to access your internet banking site. They will advise you to update your PC with latest anti-virus and spy software regularly. A suitable firewall installed in a computer to protect your PC and its contents from outsiders on the internet is recommended. Disable the file and printing sharing feature on your operating system. Log off the PC when not in use. Do not store your ID\PIN in the internet browser. Check your account and transaction history regularly
CREDIT CARD
A credit card is a plastic card with a credit facility which allows you to pay for goods and services to withdraw cash General information
1. When you apply for the card, the bank will explain the relevant terms and conditions such as fees and interest charges, billing payment, method of computation of over dues renewal and termination procedures, and any other information that you may require to operate the card. 2 The bank will send a service guide booklet giving detailed terms and conditions, losses on your account that you may liable if your card is lost and other relevant information with respect to usage of your card along with your first card. 3 .If one do not recognize a transaction, which appears on your card statement, then the bank will give you more details if you ask them.
Issuance of credit card
1. The bank will dispatch your credit card to the mailing address mentioned by you through post. Alternately, if you desire the bank shall deliver your credit card at your branches. 2. The bank may also issue deactivated credit card if they consider your profile appropriate for issuing credit card .This card will become active only after you take steps for activation. 3. The bank will extend credit facility on your card only with your consent. 4. PIN whenever allotted, will be sent to separately to the customers address.
ATM FACILITY
ATM is automated teller machine in which a customer can use their card along with PIN to get cash, information and other services. Benefits of this facility 1. This facility is cheaper, faster and more convenient than traditional modes of funds transfers like DD\MT\TT.
2. No geographical limitation within India. The funds can be transferred to the beneficial anywhere in India as long as he holds a VISA card. 3. The transfer is based on the 16 digit card number and no other details of the beneficial are required. 4. Payment of credit card bills can be carried out by entering 16 digit credit card numbers and transferring the bill amount to the number.
STAFF FUNCTION
1 Cashier: The function of the cashier is to collect the money from the customer. The cashier is to see that the currency is original or not. He also has to make necessary entries in the accounts of the customer. 2 Chief cashier: The chief cashier function is to see that the cash process is going smoothly or not. And also to give relevant information about their account.
3 Public Relation Officer: If the customers have any problem related to cash deposit, opening an account, interest rate etc. then it is the duty of the PRO to inform the customer in detail. It is one of the important functions of PRO. 4 Finance Manager: Financial managers function is look after the financial activity of the company. He prepares the financial statement ,and balance sheet of the company
5 Chief Branch Manager: He is one of the top most officers of the bank. He looks after the overall activities of the bank. He controls the functions of other departments of the bank . 6 Saving Account department: This department accepts deposit from the saving account holder. He also informs the holder about the rate of interest paid by the bank. He also informs about the withdrawals, restrictions etc.
Requirements to open an account
1. 2. 3. 4. 5. Xerox of ration card Xerox of recent light bill Two photographs Xerox of telephone bill Xerox of Bank card
