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HDFC full form is Housing Development Finance Corporation. It is a popular Indian housing finance institution based in Mumbai. It generally provides home loans to middle and lower-class people. In addition, this private bank also offers many other services. The main aim of HDFC Bank is to promote residential housing stock by offering Housing finance and increasing the ownership of homes in India. Thus bank has 396 branches across the country. It also represents itself internationally as it has three offices outside India in Dubai, London, Singapore, and in Middle Eastern countries.
Also Read: HDFC Education Loan
HDFC Full Form
The HDFC bank was one of the first banks in India to obtain Principal approval from the Reserve Bank of India to form a private bank as the part of 1994 Indian Banking Industry liberalization.
Following is the list of services offered by HDFC Bank:
- Wholesale banking
- Treasury
- Retail banking
- Mutual Funds
- Lifestyle loans
- Car loans
- Two-wheeler loans
- Personal loans
- Home Loans
- Payzapp
- Consumer-sustainable loans
- Mobile banking
- Student Loans
- Credit card
- SmartBUY
Also Read: List of Full Forms
Significance of HDFC
The prime emphasis of HDFC is on housing finance. It mainly caters to facilitate the growing demand for affordable housing in India.
HDFC offers accessible home loan facilities to its customers and it has revolutionized the real estate landscape. Their easy and accessible services enable countless people and families to own their houses through home loans.
It has the following subsidiaries, joint ventures, and associates:
- HDFC Standard Life Insurance Co. Ltd
- GRUH Finance
- HDFC Asset Management Company
- HDFC Ergo General Insurance Company
- HDFC Property Fund
- HDFC Sales
- HDFC RED
- HT Parekh
- HDFC Credila Financial Services
- HDFC Pension
Also Read: SBI Education Loan
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