Is HDFC a safe bank in India?
In India, HDFC Bank has continuously been ranked among the best banks in terms of both assets and client happiness. The Reserve Bank of India (RBI) controls the bank, ensuring that it follows strict financial laws and security procedures.
But with HDFC Bank's robust safety protocols, you are guaranteed a safe and efficient experience. Since you don't have to log in on a third-party app or website, you can rest assured that the process is 100% safe.
Which bank is the safest bank in India? The Reserve Bank of India (RBI) regulates the safety of banks in India. Among the prominent banks known for their stability and safety measures are the State Bank of India (SBI), HDFC Bank, ICICI Bank, and Punjab National Bank (PNB).
My salary account is maintained with HDFC Bank for nearly 10 years and till now there was no issues. Its a friendly bank according to my experience. I am using the online service which is very good. Their customer service was good but fixed deposit interest rates was less.
HDFC Bank has been trusted by over 3 million customers pan India and is one of India's leading private banks. High-quality support: You should ensure that you have access to the best possible support for your investments.
Its Liquidity Cover Ratio (LCR) fell to 109.8 per cent from 120 per cent QoQ due to a drawdown of liquid assets to fund loan growth. The bank's loan-to-deposit ratio (LDR) rose from 108.4 per cent to 110.5 per cent QoQ. The LDR for standalone HDFC Bank was 89 per cent in Q3FY24 versus 85 per cent in Q1FY24.
Cons: HDFC is having limited free transactions monthly after that they will charge fee for every transaction. The customer:employee ration is low. For example you have to wait for your transaction is most of the branches.
In terms of asset quality, HDFC Bank exhibited strength compared to SBI. If we analyse some key ratios useful for evaluating the banking business, let's begin with the Price-to-Book (PB) value. SBI has a PB ratio of 1.63, whereas HDFC's PB ratio is 4.47.
If you are only concerned with security for opening just a savings bank account, then both ICICI & HDFC can be considered fairly secure. You need to select bank on the basis of such factors as convenience, examine your requirements and select the product that meets those requirements.
Why HDFC is No 1 bank in India?
HDFC Bank's market cap increased 12.1% to $155.91 billion, cementing its position as India's largest bank, following its merger of parent Housing Development Finance Corp Ltd in July 2023. Other large Indian banks also saw higher market caps.
Quick loan disbursem*nt
As an HDFC Bank customer, you no longer have to wait for days to get a loan sanctioned; you can avail instant loans within minutes. And this is applicable for various types of loans, from personal to two-wheeler loans, and even LOCC (Loan On credit card), without much documentation.
HDFC Ltd, over the last 45 years has developed one of the best product offerings making it a leader in the housing finance business. HDFC Bank enables seamless delivery of home loans as a part of its wide product suite catering to urban, semi urban and rural India.
The AMB can differ across account variants and areas. For instance, AMB for an HDFC Bank Regular Savings Account is ₹10,000 for metro and urban areas and ₹5,000 for semi urban areas; whereas AMB for an HDFC Bank DigiSave Youth Account, is ₹5,000 and ₹2,500, respectively.
Also, on the yield front, HDFC Bank has superior access against ICICI Bank on unsecured retail & SME/MSME loans front amid a wider branch network and improved rural/semi-urban reach, it said.
Analysts recommended that long-term investors consider capitalising on the HDFC Bank stock's steep decline, and use this dip as a buying opportunity for the long term due to attractive valuation, recovery in lending portfolio mix, and merger gains.
Total debt on the balance sheet as of June 2023 : $32.11 B
According to HDFC Bank's latest financial reports the company's total debt is $32.11 B.
Future Growth
HDFC Bank is forecast to grow earnings and revenue by 15.4% and 8.7% per annum respectively. EPS is expected to grow by 11% per annum. Return on equity is forecast to be 16.5% in 3 years.
HDFC Bank's deposit growth is slower than expected, leading to a need to slow down credit growth. However, the extra capital requirement has peaked out, and the predicted fall in ROE has already started. Despite the current fall in stock price, there is still potential for a reasonable double-digit growth in HDFC Bank.
HDFC Bank has a secure banking policy to protect you while your perform banking transactions online. At HDFC Bank, we strive to give you a secure online banking experience. Learn all about banking online safely, and the measures we take to protect you here.
Can I deposit cash in HDFC?
Customers can deposit cash into HDFC Bank account by using HDFC Bank card (for deposit into accounts linked to debit card) and card less mode (by entering HDFC Bank account number).
In every transaction, an SMS with an OTP (One Time Password) is sent to the user, i.e., you, which you must then enter and confirm that the transaction is good to go. So that your information is protected from all malware attacks, your data is encrypted and transmitted across the banking channels with high security.
While ICICI Bank matches HDFC Bank in various aspects, including loan growth, funding profile, asset quality, and capital position, it has outperformed on key financial parameters like margins and provisioning buffer.
Which bank is best SBI or HDFC? SBI is preferred for a home loan and HDFC bank is the preferred choice when it comes to personal banking. SBI is known for its low-interest rates whereas HDFC bank is the preferred choice when it comes to the quality of banking services.
While HDFC Bank is the larger of the two lenders, ICICI Bank is continuing on its trajectory of closing the gap with its larger peer.
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