Wednesday, January 19, 2022

HDFC Full Form: HDFC Credit and Debit Card Apply Process

HDFC Full Form: Housing Development Finance Corporation

HDFC stands for Housing Development Finance Corporation which is a leading private sector bank.

HDFC mainly provides housing loans to middle class people and builders for residential projects and the main objective of HDFC is to develop the residential housing stock in a strategic manner by provision of housing finance which will increase homeownership in India. Housing Development Finance Corporation is a leader in the Indian banking sector and finance market and is headquartered in Mumbai, Maharashtra, India. HDFC has been the largest private sector lender by assets in India.

HDFC Bank has its account holders in India as well as globally. It includes large corporates, individuals, financial institutions as one of the major clients of Housing Development Finance Corporation.

History of HDFC

Housing Development Finance Corporation was first established in 1977 but started functioning as a private sector bank in India in 1994.

HDFC was incorporated on 17 October 1977 as a public limited company and promoted by the Industrial Credit and Investment Corporation of India.

HDFC introduced the Loan Linked Deposit Scheme in 1980, which stipulated that HDFC should have a passbook account to avail the loan benefits.

Four years later, HDFC introduced a home savings plan that allowed an individual to get a home loan at 8.5% interest rate in 1985.

HDFC introduced a service called Advanced Processing Facility (APF), which allows builders to provide financial services to individuals to buy housing in their projects, in 1986.

In 1989 HDFC introduced two types of loans – Home Improvement Loan (HIL) and Home Extension Loan (HEL) for the economically weaker sections.

HDFC became HDFC Bank on 30 August 1994. It was one of the first banks to receive “in-principle” approval from the RBI. HDFC Bank was founded by Aditya Puri.

HDFC launched its website in 1999. In 2009-10, HDFC offered Systematic Savings Schemes with variable interest rate.

HDFC launched an online real estate portal in 2010-11 as well as a new subsidiary HDFC Education & Development Services Pvt.

HDFC has approximately 427 interconnected branches as well as three branch offices in London, Dubai and Singapore that offer home loan services.

HDFC subsidiaries

HDFC deals in various sectors of Banking and Finance. These are the major subsidiaries of HDFC-

  • HDFC Bank Ltd
  • HDFC realty ltd
  • HDFC venture capital Ltd
  • HDFC Development Ltd
  • HDFC Holdings Ltd
  • HDFC investment Ltd
  • HDFC Ergo General Insurance company Ltd
  • HDFC Trustee Company Ltd
  • LDFC property ventures Ltd
  • HDFC standard life insurance company Ltd

HDFC products and services

Housing Development Finance Corporation as a leading banking and finance company has launched various products and services like –

  • Property loans
  • Personal loans
  • Treasury
  • Retail banking
  • Wholesale banking
  • credit card
  • Lifestyle loans
  • Consumer-sustainable loans
  • Two-wheeler loans
  • Car loans
  • SmartBUY
  • Payzapp

HDFC Online Account Open Process

To open an online account in Hdfc bank, it is necessary to have aadhar card and pan card. Because this will make online kyc verification easier. The complete process to open an account is explained here. First read all these steps carefully and then open your account.

  1. To open Insta account online in HDFC Bank, we have to go to its official website. We have given the direct link of this website here. You can directly open the website or you can open your account very easily by clicking on the link given below.

Savings Account

2. Insta Account select option

While opening an account in HDFC, you will get the option of different accounts. Such as – Farmer Account, InstaAccount, SavingsAccount, Women’s Savings Account, Regular Savings Account. Individual Current account etc.

To get instant account number InstaAccount Select the

3. Mobile Number enter

Now in the next step you will get the option to enter the mobile number. Here enter your mobile number which you want to link with your account. Select the Proceed option by entering the mobile number.

4. Aadhaar Number select

You need to have KYC documents to open an account. In which you can give Aadhar Card, Passport, Driving License or Voter ID Card. But if you link with Aadhar card, then your bank account will be opened without visiting the branch and you will also get welcome kit which will also have debit card and check book. It will be sent to your address by post. In this, you will not need to go to the branch, you will get both checkbook and debit card sitting at home. Now by entering the Aadhar card number (it is necessary to link the mobile number in the Aadhar) click on the option of Proceed.

5. OTP verify

Click on Aadhaar OTP Authentication option for Aadhaar Verification. Here your Aadhar card number will come. You will click on Request Verification Code. After this an OTP will come on the mobile number linked in the Aadhar card. Verify Aadhaar with that OTP.

6. Account Type select

In this step the type of bank account will come which you want to open your bank account. Such as Kisan Account, Savings Account, Salary Account, or Current Account. In the savings account, the option of Regular Savings Account, Senior Citizen Savings Account, and Savings Former Account Account will come. You will find its details on the website of HDFC Bank. Here we will open a regular savings account.

7. Bank Branch select

After this you have to select in which branch of hdfc bank you want to open the account. To select it, first select the state. Then select the name of the city. After that select the name of the branch. After this, the details of how much balance you have to maintain in that account will come. For example, 5000 rupees will have to be maintained in the regular savings account.

8. Enter personal details

Now you have to fill your personal information. First of all upload your photo here, for this select your photo by clicking on the photo icon and click on the upload option. After that enter your name, email id and date of birth. Then select Marital Status. Then write the name of father and mother.

Now enable what feature you want in your account. For example, if you want an email statement, then you will enable it here. This will keep you getting email statements every month. If you also need Internet Banking and Mobile Banking, then you will enable it too. After this, you will enter the PAN card number here and click on the camera icon to upload the PAN card. After this your PAN card will be uploaded.

9. Enter address details

After that you have to fill your address details. Here whatever address will be there in your Aadhar card will come automatically. Your permanent address given in the Aadhar card or mailing address will be selected. You have to fill your address carefully because the debit card and check from the bank will come to this address. Proceed by carefully filling all the information given in the address details.

10. business details fill

Now you have to fill your business details. In this you can select the option of self employed. If you are self employed, then what is the nature of business, you have to select it. After this, fill in the information of what is the source of income and how much is your annual income. After filling all these details, click on Continue. If you want to give Agra Aadhar card for both ID and address proof, then after selecting Aadhar card click on proceed option.

11. Enter nominee details

It is very important to have a nominee in the bank account. So now here you have to enter the name of the nominee. After this, enter the date of birth of the nominee as well as the full address of the nominee. After that click on proceed button. Later, the nominee can be changed anytime through internet banking.

12. Select KYC Verification Option

After completing all the steps mentioned above, your InstaAccount will be opened. In this account you are given a limit of Rs 100000. You can keep up to Rs 100000 in your account. But if you have to get KYC done, then you can get it done in two ways.

  • Video KYC – Under Video KYC, the customer gets the facility of KYC while sitting at home. In Video KYC, hdfc bank officials complete the kyc through video call.
  • Branch KYC – In Branch KYC, the customer has to go to his branch. At the time of opening the account, KYC can be completed by taking all the documents related to KYC in the selected bank branch.

Video KYC can be done anytime between 10:00 am to 6:00 pm during bank working days. At the time of video KYC, you should have your original PAN card, a blank white sheet of paper and pen, on which you will also have to sign like your PAN card. Signature can also be done with black or blue pen.

13- How to Activate HDFC Internet Banking

After the account is opened, you will have got the customer id. Through this we can start internet banking. First to activate net banking have to open. After opening the website, click on Login option. Now we will continue by filling the Customer ID in the login page. After that click on Forgot Password option here.

Here you have to re-enter your Customer ID. After this, select the second option what password you want to create. Now one OTP will come on both your registered email id and your mobile number in your bank account. Enter the OTP received from SMS and select the Continue option. Now create your password.

You have to enter the same password as you had set to login to HDFC Internet Banking. After this the login will be done in Internet Banking. Now you can take advantage of hdfc bank online service.


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