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PROJECT REPORT

ON

A STUDY HOME LOANS

SUMMER TRAINING PROJECT REPORT SUBMITTEDTOWARDS PARTIAL FULFILLMENT

OFBACHELOR OF BUSINESS ADMINISTRATION

(Affiliated To Ch. Charan Singh University, Meerut)

Academic Session[2008-2011]

SUBMITTED BY: SUBMITTED TO:HIMANSHU GUPTA PROF. BHAWNA

BHARDWAJROLL NO- 9342606 MENTORBBA

INSTITUTE OF TECHNOLOGY &SCIENCE

MOHAN NAGAR, GHAZIABAD - 201007

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CONTENTS

- STUDENT DECLARATION

- COMPANY CERTIFICATE- ACKOWLEDGEMENT

- EXECUTIVE SUMMARY

- LIST OF ABBREVIATION

CHAPTER-1 INTRODUCTION OF HOME LOAN

CHAPTER -2 OBJECTIVES

CHAPTER -3 RESEARCH & METHODOLOGY

CHAPTER -4 REVIEW OF LITERATURE

CHAPTER -5 INDUSTRY PROFILE

CHAPTER -6 COMPANY PROFILE

CHAPTER -7 COMPARATIVE STUDY

CHAPTER -8 ANALYSIS & INTERPRETATION

CHAPTER -9 FINDINGS

CHAPTER -10 RECOMMENDATION & SUGGESTIONS

CONCLUSION

REFERENCE

QUESTIONNAIRE

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STUDENT DECLARATION

This is to certify that I have completed the Project titled A STUDY ON

HOME LOANS under the guidance of MR. RACHIT SAXENA in the

partial fulfillment of the requirement for the award of the degree of

Bachelor in Business Administration from INSTITUTE OF

TECHNOLOGY AND SCIENCE. This is an original work and I have not

submitted it earlier elsewhere.

HIMANSHU GUPTA

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Company certificate

This is to certify that the project titled A STUDY ON HOME LOANS is

an academic work done by HIMANSHU GUPTA submitted in the

partial fulfillment of the requirement for the award of the degree of

Bachelor in Business Administration from INSTITUTE OF

TECHNOLOGY AND SCIENCE. under my guidance and direction. To

the best of my knowledge and belief the data and information presented by

him in the project has not been submitted earlier elsewhere.

MR.RACHIT SAXENA (Project Guide)SALES MANEGER; HDFC

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ACKNOWLEDGEMENT

"Gratitude is not a thing of expression; it is more matter of feeling."There is always a sense of gratitude which one express towards others for their help and

supervision in achieving the goals. This formal piece of acknowledgement is an attempt to

express the feeling of gratitude towards people who helpful me in successfully completing of

my training.

I would like to express my deep gratitude to MR. HIMANSHU GUPTA my training

coordinator for their constant co-operation. He was always there with his competent

guidance and valuable suggestion through out the pursuance of this research project. Specialthanks to MR.RACHIT SAXENA who guided me to work honestly and to give valuable

suggestion for improving my work Last but not least I would also like to place of

appreciation to all the respondents whose responses were of utmost importance for the

project.

Above all no words can express my feelings to my parents, friends all those persons who

supported me during my project. I am also thankful to all the respondents whose cooperation

& support has helped me a lot in collecting necessary information.

I would also like to thank almighty God for his blessings showered on me during thecompletion of project report.

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EXECUTIVE SUMMARY

Home is a dream of a person that shows the quantity of efforts, sacrifices luxuriesand above all gathering funds little by little to afford ones dream. Home is one of the thingsthat everyone one wants to own. Home is a shelter to person where he rests and feelcomfortable. Many banks providing home loans whether commercial banks or financialinstitutions to the people who want to had a home. The housing sector plays an importantrole in the economic development of the country.

My project title is A STUDY ON HOME LOANS. I selected this topic becauseThe Indian housing finance industry has grown by leaps and bound in few years.Total homeloans disbursements by banks has risen which witnesses phenomenal growth from last 5years. There are greater number of borrowers of home loans.so by this study we can find outsatisfaction level of customers and problems faced by them in obtaining home loans.

My objectives of study are- To make comparative study of Disbursement of home loans by commercial banks. To study the satisfaction level of customers about home loans. To study the problems faced by customers in obtaining the home loans.

And problems face by customers in obtaining home loans are

The customer does not had proper knowledge about different Home loan products sothey face problem in making a good deal.

There are procedural delays, which harass the customers lot this will crush the curtsyof customers to avail the home loan.

The attitude of bank employees some times non cooperative and it creates a hurdle in building trust and Confidence among customers about banks.

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LIST OF ABBREVIATIONS

ABBREVIATIONS EXPANSION

ROVR RECOMMENDATION OVER

NRI NON RESIDENT INDIAN

RBI RESERVE BANK OF INDIA

PNB PUNJAB NATIONAL BANK

SBI STATE BANK OF INDIA

IIR INCOME TO INSTALLMENT RATIO

FLIP FLEXIBLE LOAN INSTALMENT PLAN

DSAs DIRECT SELLING AGENTS

BSAs BUSINESS SELLING AGENTS

DCOVR DOUBLE CHECKING OVER

RPLR RETAIL PRIME LENDING RATE

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chapter - 1

INTRODUCTION TO HOME LOANS :-

Home is a dream of a person that shows the quantity of efforts, sacrifices luxuriesand above all gathering funds little by little to afford ones dream.

Home is one of the things that everyone one wants to own. Home is a shelter to person where he rests and feel comfortable. Many banks providing home loans whether commercial banks or financial institutions to the people who want to have a home.

HDFC-(Housing Development And Finance Corporation) Home Loan, India have been serving the people for around three decades and providing various housing loanaccording to their varied needs at attractive & reasonable interest rates. Owing to their widenetwork of financing, HDFC Housing Loans provides services at your doorstep and helpsyou find a home as per your requirements.

Many banks are providing home loans at cheapest rate to attract consumers towardsthem. The more customer friendly attitude of these banks, currently offer to consumerscheapest loan over homes.

With the RBI reducing bank rate, the home loan market rates nose-diving by 50 basis points. The HDFC Bank and Standard chartered bank has become the first player in thissector to announce a housing loan for a 20 years period.

HDFC also provides with Home Improvement Loan for internal and external repairsand other structural improvements like painting, waterproofing, plumbing and electric works,tiling and flooring, grills and aluminium windows. HDFC finances up to 85% of the cost of renovation (100% for existing customers).

Current status is that HDFC reduced home loan rates by 50 basis points for all itsexisting floating rate customers.

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1.1 ADVANTAGES OF HOME LOAN :-

Attractive interest rate:-

The various banks offer attractive interest rates to boost and help their customers.Many banks provide loans on fixed or floating rates to facilitate consumers as per their needs.

Help in owning a home:-

The home availed by a person with the help of banks, because they provide technicaland financial assistance to customers for owning their dream home.

No requirement of guarantor:-

The commercial banks now a day, liberlise their laws regarding home loans. Some of banks dont even require the guarantor to grant loan to their consumers. They also makeconsumers free by reliving him to find a guarantor to complete the proceedings of availingloan.

Door-Step Services:-

These door to step services are provided from enquiry stage to the final disbursement takes place such services are beneficial for customers in present busy life. Banks like ICICI bank and standard chartered bank provide door to step services to customers to borrow loan.

Loan period:-

There are many banks which provide maximum loan tenures upto 15-20 years based on theloan amount and the creatibility of customers. This relieves the customers to repay loanamount till a long period .

For accidental death insurance :-

Some banks provide free accidental death insurance with housing loan which is also beneficial for the customers.

These benefits or advantages of home loans are responsible for making than so popular among customer that a person who dont have their home and want to buy, they do itwith home loan. Home loans help such persons in making their dream home.

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1.2 DISADVANTAGES OF HOME LOANS:-

The main disadvantages of home loans are high lightened as below:

(i) Delays in processing :-

Many times, there are huge delays in processing of providing home loans becausevarious formulations to be fulfilled in this process. Due to these delays customers feelmentally as well as financially weak.

(ii) Fluctuating interest rates :-

Some banks give home loans at floating rates, which fluctuate at Different intervals due tosome reasons. These changes sometimes, may lead to increase in interest rate which willincrease the cost of home loans to the customers

(iii) High Cost:-

The public sector banks charge high processing cost for home loans sanctioning.They are forced to pay serious charges at various stages to fulfill the requirements. Someconsumers are not able to pay such charges so such people could not avail the benefits of home loan schemes.

(iii) Problems in disbursement:- There are many problems in disbursement of home loan amount. There are some delay in

disbursement of loan amount to the customers due to legal formalities. This causes problemsto the customers.

These are limitations or disadvantages of home loans. But some times some bankscharges high installments to repay loan amount. Such also causes problem to customers.These limitations can be removed by providing good and promote services to the customers.

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1.3 DISBURSEMENT OF HOME LOANS :-

Terms & conditions :-

a) Rate of interest = 8.25% - 9.50% ( R.B.I )

b) Time period = 15 20 years

c) Limit = minimum 5 lacks.

Maximum 500 cr. Or above

Some questions asked by the customers :-

d) Location = NCR OR DELHI [ Area are authorized by G.D.A]

e) Registery

f)Passing map

g) Marketing value of property

Conditions regarding co-applicants: -

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All Housing Finance Institutions lay down conditions on who can be co-applicants.all co-owners to the property. need to be co-applicants to the loan necessarily. Theseinstitutions do not permit minors to join in as either coowner or as co-applicants because aminor is not eligible to enter into a contact as per law. They do not permit even friends or

relatives who are not blood relatives to take a property jointly.However, Income of co-applicants can be clubbed together to get higher loan eligibility. Given below is a Tablethat throw light on acceptable relationship of a co-applicant for clubbing of income.Income Clubbing of Co-applicants: - It is as follows:-Combination Income Clubbing: -

Husband-Wife: - Income of husband-wife can be clubbed.

Parent - son: - It can be clubbed if only son is there but not if any male sibling exists.

Brother-Brother: - If they are currently staying together and intend to stay together in

the new property, then only, their income-can be clubbed for above purposes.

Brother-Sister: - No clubbing-is possible.

Sister-Sister : - No clubbing is possible.

Parent-Minor- Child: - No clubbing is possible in this case also.

a) The income of the salaried individual is considered in the following manner:-

Gross monthly income as it appears on the salary slip

Less:- Any non regular variable income appearing on the salary slip (including overtime,etc.)

Add : - 50 per cent of the average variable income of the last six months.

Add: - Any fixed cash/voucher payments for which proof can be submitted.

Add: - 50 per cent of the average variable cash/voucher payments with proof like traveling

reimbursement etc.

Add :- HRA receivable if not being received already in the salary slip.

Average of the net profits of last 2 years as it appears in the profit and loss account (Returnsneed to be filed for the same. They should be filed regularly before the due date is over).

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Less: - Any income, which is unusual and non-recurring in nature like sale of some asset,etc which affects profits substantially,Add: - Any expense that is unusual and non-recurring in nature like repairs and maintenancethat has not been capitalized and effect profit adversely.

Add: - 50 per cent of the average depreciation of the last two years. The above income iscalculated for the calculation of eligibility using IIR and FOIR norms.

C USTOMER PROFILE

Documents :-

If customer are self employed:-A) I.D PROOF:-

-pan card-driving license-voter i.d card

B) ADDRESS PROOF :-

-pass book -Electricity bill-telephone bill ( landline/ postpaid)-rashan card-rent agreement ( if customer are live in rent)

C) BUSINESS PROOF :-

-visiting card-compay profile-letter head

D) BANK STATEMENT:-

-LAST 6 MNTH BANK STATEMENT (UPDATE )-COMPUTATION P & L A/C , BALANCE SHEET

E) INCOME TAX RETURN :-

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- LAST 3 YRS . SALARY SLIP2 PHOTO / PROPERTY CHAIN PAPER

IF CUSTOMER ARE SALARY BASED :-

A) I .D PROOF :-

-PAN CARD-DRIVING LICENSE-3 YRS . SALARY SLIP-JOINING LETTER - OFFER LETTER + RELEVANT LETTER

B) ADDRESS PROOF :-

(SAME AS )

C) BANK STATEMENT :-

(SAME AS )

D) INCOME PROOF :-

- SALARY SLIP- FORM 16

CHAPTER-2

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OBJECTIVES OF STUDY

There is no strongest foundation for your dream home, than a cheap loan. Home loans have become that stronger foundations for people who want to own a home. The main objectivesof the study are as follows :-

1) The main objective of this study is to know the Customers perceptions about home loans

of HDFC housing development finance corporation LTD.

2)2) To analyze the history of hdfc ltd.To analyze the history of hdfc ltd.

3) Generating good business to the company by promoting and selling the products of HDFC

LTD.

4) To know the ideas of customers about home loan products and services.

5) To make comparative study of Disbursement of home loans byCommercial banks.

6) Fixing the appointments with the customers.

7) To study the satisfaction level of customers about home loans.

8) To study the problems faced by customers in obtaining the home loans.

9) Visiting the customers and closing the deal.

10) To learn about various aspect of hdfc home loan ltd.To learn about various aspect of hdfc home loan ltd.

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2.1 PURPOSE OF THE STUDY

The main purpose of this study is to attain the knowledge of the processing system of homeloans. the main purpose of the study are as follows :-

To know the ideas of customers about home loan products and services.

To study the satisfaction level of customers about home loans.

To study the problems faced by customers in obtaining the home loans.

To learn about various aspect of HDFC home loan ltd.To learn about various aspect of HDFC home loan ltd.

2.2 SCOPE OF STUDY

The Indian housing finance industry has grown by leaps and bound in few years. total homeloans disbursements by banks has risen which witnesses phenomenal growth from last 5years. There are greater number of borrowers of home loans. so by this study we can find outsatisfaction level of customers and problems faced by them in obtaining home.

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CHAPTER-3

RESEARCH METHODOLOGY:-

Research methodology is a way to systematically show the research problem. It may be understood as a science of studying how research is done scientifically. It is necessary for the researcher to know not only the research methods but also the methodology.This Section includes the methodology which includes. The research design, objectives of study, scope of study along with research methodology and limitations of study etc.

To know the Customers perceptions about home loans of HDFC housing development

finance corporation LTD.

To study the satisfaction level of customers about home loans.

To study the problems faced by customers in obtaining the home loans.

To make comparative study of disbursement of home loans by commercial banks, thestudy shall be conducted in the manner enumerated below-

3.1- RESEARCH DESIGN:-

This project is based on exploratory study as well descriptive study. It was anexploratory study when the customer satisfaction level was studied to suggest new methodsto improve the services of HDFC LTD in providing home loans and it was descriptive studywhen detailed study was made for comparison of disbursement of home loans by commercial

banks.

3.2 SOURCES OF DATA :-

To fulfill the information need of the study. The data is collected from primary as wellas secondary sources-

A - PRIMARY SOURCE:-

I decided primary data collection method because our study nature does not permit toapply observational method. In survey approach we had selected a questionnaire method for taking a customer view

because it is feasible from the point of view of our subject & survey purpose. We conducted100 sample of survey in our project to judge the satisfaction level of customers which took home loans.

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Sample size;-For the questionnaire I have taken the sample size of 100 customers of HDFC LTD.

B SECONDARY SOURCE:-

It was collected from internal sources. The secondary data was collected on the basisof organizational file, official records, news papers, magazines, management books,

preserved information in the companys database and website of the company.

3.3- SAMPLING :-

Sampling refers to the method of selecting a sample from a given universe with a viewto draw conclusions about that universe. A sample is a representative of the universe selectedfor study.

3.4 SAMPLE SIZE :-

Large sample gives reliable result than small sample. However, it is not feasible to targetentire population or even a substantial portion to achieve a reliable result. So, in this aspectselecting the sample to study is known as sample size. Hence, for my project my sample sizewas 100.

The Sample Size consists of both the Professional and Business class people. IT peoples, Doctors, Jewelers, Timber Merchants & Real estate Agents are taken as Sample.

3.5 SAMPLING TECHNIQUE:-

Random sampling technique was used in the survey conducted.

3.6 TOOLS OF ANALYSIS:-

Data has been presented with the help of bar graph, pie charts, line graphs etc.

3.7 PLAN OF ANALYSIS:-

Tables were used for the analysis of the collected data. The data is also neatly presentedwith the help of statistical tools such as graphs and pie charts. Percentages and averages havealso been used to represent data clearly and effectively.

3.8 DATA COLLECTION INSTRUMENT DEVELOPMENT :-

The mode of collection of data will be based on Survey Method and Field Activity.Primary data collection will base on personal interview. I have prepared the questionnaireaccording to the necessity of the data to be collected.

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3.9 LIMITATIONS OF THE STUDY:-

This study also includes some limitations which have been discussed as follows:

i) The sample size of 100 customers and 4 banks might prove a limitation because of difficulty in generalization of results.

ii) To collect the data from various banks was quite difficult due to non- cooperation of some banks. This proved to be major limitation of the study.

iii) To access such a large number of customers was difficult because of non-cooperativeattitude of respondents.

iv) Lack of data was also the other limitation of the study as some of banks do not have proper data on topic.

v) There was limitation of time to conduct such a big survey in limited available time.

vi) Ignorance and reluctant attitude of customers was also a major limitation in this study.

Thus above all were the limitations in this research study. The maximum efforts weremade to overcome these limitations in the study.

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CHAPTER 4

REVIEW OF LITERATURE

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4.1 SUMMARY:-

After going through pervious studies of Home loans I came to conclude that-

There is growth of home loans after 2001.

Home loans have an inverse relation with interest rates i.e. when interest rate lowthe demand of home loans increase. (Ojha 1987)

People are going more towards home loans than private mortgage insurance .(Berstain 2008)

Government taking various steps to encourage people to go toward home loans .(Haavio, Kauppi 2000)

Growth of home loans are due to increase of living standard of people, shiftingfrom joint family to nuclear family .(Lacourr, Micheal 2007)

There are some problems also attach with these home loans such as time i.e fillingof application of loan to closing ,people have their own specified needs from these homeloans which are not fulfilling. (Lacour Micheal 2006).

SBI provide a very low interest rate on home loans as compared to other banks.(SBI May 2000)

4.2 Now after this conclusion the details of reviews are below-

Berstain David (2009) examined in his study taken from 2001 to 2008 that in this period there is increase use of home loans as compared to private mortgage insurance(PMI).he have divided his study into four sections. Section 1 describes why people aregoing more for home loans than PMI. the main reason for this that now home loans market

provide Piggybank loans for those people who dont have 20% of down payment. Section 2tells the factors responsible for the growth of home loans and the risks on shifting towardhome equity market without any PMI coverage. PMI can protect lenders from most losses up

to 80% of LTV and the absence of PMI will result in considerable losses in an environment.

CHAPTER-5

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INTRODUCTION TO THE INDUSTRY PROFILE

5.1 THE HISTORY OF INDIAN HOME LOANS:-

Home loans in India have made people Buy Property in India in spite of theskyrocketing prices. Today, we find considerable Real Estate Investment in India, either inthe field of Residential Property in India or Commercial Properties in India. Home Loans inIndia are disbursed by many Banks as Loan Banking is on of the most important function of the Financial Services in India. Property Dealers and Real Estate Consultants in Indiausually recommend that we undertake appropriate Home Loan or Mortgage Loancounseling so that we can Buy Apartment in India at an affordable MortgageRate.Purchasing the home of your dreams is not an easy task. Especially when you plan to

buy a home on loan. Home loan means that you buy a house on installments. In simpler terms when you want to own a home and cant afford to pay the amount in lump sum, youcan pay it in monthly installments with an interest rate.

The interest rates of home loans are expected to go down even further according toanalysts who foresee a cut down in the rates by the RBI in the wake of the decision taken byUS Federal Reserve to cut its rates by a significant margin.

There are number of companies offer cheap home loans at a low interest rate. You canavail loan against existing house for renovation or expansion etc. There are manynationalized banks that offer finance for affordable housing. India Housing has put together acomprehensive data to provide you with the cheapest Home Loans available in the market.We have listed all the important housing finance institutes and some of the top home finance

banks providing lowest interest rates.In the last few years, housing loan scenario in India has changed drastically. It has taken

a front seat and people are looking forward to owning their own houses. It is no more adream that required lifetime saving and a difficult decision to make. Today the new home

purchase loan is much easily available and is much cheaper than what was available earlier.Banks are now everywhere and the schemes are implemented even in villages and smaller towns. The housing loans are popular there too, however, the activity of building flats is littleslow. It would not be wrong to say that there has been a boom in the home loan market andwith this boom; there is also a boom in the Number of home loans mortgage brokers in India.

The main reason for this boom in home loan market is the change in government policies. It is our governments motivation that the home loan interest rates in India havefallen considerably. Lot many banks are offering home loans and this is available at lowEMIs (Equated monthly Installments). High EMIs are now a thing of past. Today lendingrate is in the range of 7.5 to 15 %.

5.2 INTEREST RATES PROVIDED BY VARIOUS BANKS

Finance Institution Loan Period(in years) FixedEMI / Lakh

(INR) FloatingEMI / Lakh

(INR)

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Bank of Baroda

Up to 5 9.00 2076 8.00 20286 to 10 9.25 1230 8.25 122711 to 15 9.50 1044 8.25 97016 to 20 9.50 932 8.50 868

State Bank Of India

Up to 5 9.50 2100 8.75 20646 to 10 9.75 1300 9.25 128011 to 15 - - 9.25 102916 to 20 - - 9.75 949

HDFC

Up to 5 11 2175 9.50 21016 to 10 11 1375 9.50 129411 to 15 11 1137 9.50 1045

16 to 20 11 1033 9.50 933

ICICI Bank

Up to 5 10.75 2162 9.50 2101

6 to 10 10.75 1364 9.50 129411 to 15 10.75 721 9.50 104516 to 20 10.75 1016 9.50 933

LIC Housing Finance

Up to 5 10.50 2149 9.50 21006 to 10 11 1373 9.50 129411 to 15 11 1137 9.50 104416 to 20 11 1032 9.50 932

PNB Housing Finance

Up to 5 9.00 2076 10.50 21506 to 10 9.00 1267 10.50 135011 to 15 9.25 1030 10.50 110616 to 20 9.50 933 10.50 999

16 to 20 11 1032 9.50 932

PNBHousing Finance

Up to 5 9.00 2076 10.50 21506 to 10 9.00 1267 10.50 135011 to 15 9.25 1030 10.50 110616 to 20 9.50 933 10.50 999

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http://www.guide2homeloan.com/loans/hfcs/bob-housing-finance.aspxhttp://www.guide2homeloan.com/loans/banks/state-bank-of-india.aspxhttp://www.guide2homeloan.com/loans/hfcs/HDFC.aspxhttp://www.guide2homeloan.com/loans/hfcs/ICICI.aspxhttp://www.guide2homeloan.com/loans/hfcs/lic-housing-finance.aspxhttp://www.guide2homeloan.com/loans/hfcs/pnb-housing-finance.aspxhttp://www.guide2homeloan.com/loans/hfcs/pnb-housing-finance.aspxhttp://www.guide2homeloan.com/loans/hfcs/bob-housing-finance.aspxhttp://www.guide2homeloan.com/loans/banks/state-bank-of-india.aspxhttp://www.guide2homeloan.com/loans/hfcs/HDFC.aspxhttp://www.guide2homeloan.com/loans/hfcs/ICICI.aspxhttp://www.guide2homeloan.com/loans/hfcs/lic-housing-finance.aspxhttp://www.guide2homeloan.com/loans/hfcs/pnb-housing-finance.aspxhttp://www.guide2homeloan.com/loans/hfcs/pnb-housing-finance.aspx

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Still in comparison to other nations India has a long way to go, The figures shown

below shows that even the GDP/mortgage ratio is low which indicates that credit is not wellsought as figure below shows the average percentage of mortgage to GDP.

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GRAPH:-5.4

Comparison with other nations India fall behind in terms of Mortgage Penetration whichdirectly demonstrates the potential in Indian market for Housing mortgage financecompanies

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GRAPH:- 5.5

Real Estate is currently sought of as a great means of Investment, the prices of residents have shot up very high which is clearly shown in the figure below, the major citieshave witnesses lot of development and price appreciation which demonstrates the growingdemand . more and more people are migrating to cities for work / business. More and more

jobs are created and price index rise becomes inevitable.

Sources: RBI

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Price Index: FIG-5.6

The above figure shows the rise in prices of space per sq feet in different major cities.

Housing shortage in India: - The below figure shows the ever-increasing demand for

houses in India and also mentioned here is the Rural and urban requirement. Banks aredriving new strategies to tap both the markets in a different way Rural/Urban. There arecategories with Indian loan demand, which is shown in this figure

FIG:- 5.7

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Recent trends of home loan in India:-

In order to understand the recent trends we need to know or understand various factors.These factors play vital role in Indian home loan market. These include interest rate onwhich banks provide home loan, tax rebate on home loan and its impact. Apart from this tounderstand the recent trend we need to compare the trends of home loan of different years.Here we have compared the interest and other market trends of year 2009 with 2007-08. Thiskind of comparison gives the result which helps us to understand the trends of market of anyindustry. Apart from the impact of present and past economic ups and down also affect thetrends. Today the US slowdown is the major issue which has affected almost all the industry.So we have also discussed this issue in terms to define trend of home loan market in India.

5.8 Types of home loans: -

Housing loans offered by banks are of different types:-

Home Purchase Loans Home Construction Loans Home Improvement Loans Home Extension Loans Home Conversion Loans Land Purchase Loans Stamp Duty Loans Bridge Loans Balance Transfer Loans Refinance Loans

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Loans to NRIs

Home purchase loans:-This is the basic home loan for the purchase of a new home. If you want to buy a flat

in some society or some already built house, banks and HFCs sanction you home purchase

loans for this process.

Home construction loans:-This loan is available for the construction of a new home on a said property. The

documents that are required in such a case are slightly different from the ones you submit for a normal Housing Loan . If you have purchased this plot within a period of one year beforeyou started construction of your house, most HFCs will include the land cost as acomponent, to value the total cost of the property. In cases where the period from the date of

purchase of land to the date of application has exceeded a year, the land cost will not beincluded in the total cost of property while calculating eligibility.

Home improvement loans:-These loans are given for implementing repair works and renovations in a home that

has already been purchased, for external works like structural repairs, waterproofing or internal work like tiling and flooring, plumbing, electrical work, painting, etc. One can availof such a loan facility of a home improvement loan, after obtaining the requisite approvalsfrom the relevant building authority. the following are coming under the home improvementloans:

External repairs Tiling and flooring Internal and external painting Plumbing and electrical work Waterproofing and roofing Grills and aluminum windows Waterproofing on terrace Construction of underground/overhead water tank Paving of compound wall (with stone/tile/etc.) Borewell.

Home extension loans:-

An extension loan is one which helps you to meet the expenses of any alteration tothe existing building like extension/ modification of an existing home; for example additionof an extra room etc. One can avail of such a loan facility of a home extension loan , after obtaining the requisite approvals from the relevant municipal corporation.

Home conversion loans:-This is available for those who have financed the present home with a home loan and

wish to purchase and move to another home for which some extra funds are required.

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Through a home conversion loan, the existing loan is transferred to the new home includingthe extra amount required, eliminating the need for pre-payment of the previous loan.

Land purchase loans:-This loan is available for purchase of land for both home construction or investment

purposes.

Stamp duty loans:-This loan is sanctioned to pay the stamp duty amount that needs to be paid on the

purchase of property.

Bridge loans:-Bridge Loans are designed for people who wish to sell the existing home and

purchase another. The bridge loan helps finance the new home, until a buyer is found for theold home.

Balance- transfer loans:-Balance Transfer is the transfer of the balance of an existing home loan that you

availed at a higher rate of interest (ROI) to either the same HFC or another HFC at thecurrent ROI a lower rate of interest.

Refinance loans:-Refinance loans are taken in case when a loan for your house from a HFI at a

particular ROI you have taken drops over the years and you stand to lose. In such cases youmay opt to swap your loan. This could be done from either the same HFI or another HFI at

the current rates of interest, which is lower.NRI home loans:-

This is tailored for the requirements of Non-Resident Indians who wish to build or buy a home or property in India. The HFCs offer attractive housing finance plans for NRI investors with suitable repayment options.On would be entitled for home loans in the range of Rs 5 lakh to a maximum of Rs 1 crore,

based on the repayment capacity, previous credit history and the cost of the property. The bank may provide a maximum of 85% of the cost of the property or the cost of constructionas applicable and 75% of the cost of land in case of purchase of land. The repaymentcapacity is calculated taking into account factors such as:

Age Income/Salary Qualifications Dependant/(s) Assets/Liabilities Credit History Stability / continuity of your employment/business Income of co-applicant/(s)

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Taking home loans these days has become simpler. With the RBI regularly bringdown interest rates; taking home loans have become extremely easy. Housing loans whichwere 16.5% to 18% a few years ago fell by 11.5% to 13%. With interest rates going down,

people increasingly number apply to take these loans. Some of the leading banks offeringhome loans in India, including ICICI Bank, IDBI Bank, HDFC Bank State Bank, Bank of

Baroda, Kotak Bank, SBI, Standard Chartered Bank and Axis Bank.

HDFC Home Loan:-

Highlights:-

HDFC markets its parent HDFC's home loan products. Finances up to 85% of the cost of the property (Agreement value + Stamp duty +

Registration charges). Home improvement loan, which facilitates internal and external repairs and other

structural improvements like painting, waterproofing, plumbing and electric works,

tiling and flooring, grills and aluminum windows. Finances up to 85% of the cost of renovation (100% for existing customers). Home extension loan for extension of an existing dwelling unit under the same terms

as applicable to home loan . Land Purchase Loan to purchase land for constructing house. Finances up to 70% of

the cost of the land. Repayment over a maximum period of 10 years. Fixed Rate, Floating Rate and options to structure loan as partly fixed or partly

floating. Flexible repayment options to suit individual needs. Insurance cover under Term Assurance Plan Offer in-house scrutiny of property documents.

Eligibility; - HDFC home loans are available for:

Purchase of flat, row house, bungalow from developers Purchase of existing freehold properties Purchase of properties in an existing or proposed co-operative housing society or

apartment owner's association Purchase of first Power of Attorney purchases in Delhi for DDA flats allotted before

1992. Construction of own house

HDFC home loans can be applied for either individually or jointly. Proposed owners of the property will have to be co-applicants. However, the co-applicants need not be co-owners.Maximum tenure is 20 years subject to retirement age.

Loan Amount: - 85% of the cost of the property (including the cost of the land) and basedon the repayment capacity of the customer.

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Rate of Interest :- The current applicable fixed rate of interest in respect of the total loanapproved is as follows:

For loans up to Rs.2, 00,000:-

Term of Loan(No. of Years)

Rate Per Annum(%p.a)

Up to 56 - 10

11 - 15

10.0010.7511.00

For loans greater than Rs.2, 00,000

Term of Loan(No. of Years)

Rate Per Annum(%p.a)

51015

10.0011.0011.25

All loans on annual rest basis. You repay the loan in Equated Monthly instalments (EMIs)comprising principal and inertest.EMI per Rs 1, 00,000 (for loan up to Rs.2, 00,000)

Term of Loan(No. of Years) Rupees

51015

219914011159

EMI per Rs.1, 00,000 (for loan greater than Rs.2, 00,000)

Term of Loan(No. of Years) Rupees

51015

219914161175

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5.9 Documents Required :-

Salaried Customers Self Employed Professionals Self Employed Businessman

Application formwith photograph Application form with photograph Application form with photograph

Latest Salary-slip Education Qualifications Certificateand Proof of business existenceEducation Qualifications Certificateand Proof of business existence

Form 16 Last 3 years Income Tax returns (self and business) Business profile

Last 6 months bank statements

Last 3 years Profit /Loss and BalanceSheet

Last 3 years Income Tax returns (self and business)Last 3 years Profit /Loss and Balance

Sheet

Processing feecheque

Last 6 months bank statementsProcessing fee cheque

Last 6 months bank statements (self and business)Processing fee cheque

The Credit Appraisal is an important step in sanctioning loan applications .Hence the CreditAppraiser needs to have certain important documents to compute the credit worthiness of the applicant .In the case of salaried person these include the following :-

1) SALARY SLIPS (3 MONTHS CURRENT) :- The salary slip is usually a printed sheet

of paper that contains 2 components

Income/Earnings collumn: - It contains an exhaustive list of the various components thatare added to the persons salary. They contain various components like Basic pay, HRA etc.

Deductions :- It contains an exhaustive list of various components that are deducted fromthe persons Earnings. They contain various components like Income tax, Provident fund,Employee Loans etc.

2) BANK STATEMENTS(6 MONTHS CURRENT) ;- The bank statement contains thevarious transactions that the applicant performs in his bank account. It has 3 components

Date Descriptions ;- It contains the brief and standardized description of the activity or the

account related to the transaction .Eg. Clearing cheque 166129, Transfer deposit. Deposits: - It contains the amounts that were credited to the account Withdrawal ;- It contains the amounts that were debited to the account. This is

carefully studied to find out about any regular withdrawals or a series of checks so

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that any existing loans may be revealed and there can be a correct estimate of therepayment capacity.

Balance :- It shows effect of transaction on the pre existing account balance Special feature :- HDFC will not consider any loan s with out standing EMI of or

below 6 months.

3) FORM 16 :- It is form given by Employer which states the income earned from thatcompany during the full financial year ,and gives the details of Tax deducted at source.

4) COPY OF INCOME TAX RETURN(SARAL) :- The SARAL tax return form revealsthe structure of incomes and/or the various earnings of the tax returnee .It also shows thevarious deductions that will not be included and it also contains the Rebates on which heearns tax benefit. 5) RESIDENCE PROOF :- The residence proof includes the Electricity bill, Telephone bill,Ration Card ,Passport.

6) PHOTO ID PROOF :- The photo proof includes the Pancard ,Voter ID card, EmployeeID card, Passport etc.

7) AGE PROOF: - The age proof includes the Pan card, Passport, Photo ID.

8) LOAN APPLICATION FORM DULY FILLED :- It can also be downloaded fromHDFCs user friendly web based portal.

9) CHARGES FOR PROCESSING FEES :- This is a standard and nominal fees to be paidat the time of applying for loan

Fees structure. 0.5% of loan amount+Service tax of 12%(Less)Education Less of 3%

OR 5618/-HDFC takes from applicant whichever is less. This is applicable time to time.10) PHOTOCOPIES OF PROPERTY PAPERS.

5.10 STAGES OF HOME LOAN

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The representation shown above is not a perfect copy of the actual process. This is becausethese stages are taking place simultaneously and one application is being taken care for bythe experienced employees of both HDFC Ltd service centre and HDFC Ltd HUB (alsocalled the back end office).Also the applicant may be asked to send information or may beasked questions regarding his requirement and/or his documents for his own convenienceHence the loan application may or may not shuttle through different stages.

APPLICATION STAGE :- This is the stage where the Application Form first reachesthe concerned Service Centre Here all the documents in the application are reviewed by the

experienced staff present at the service centre The HDFC Ltd employee who reviews the filechecks to see whether all documents are present and in their proper place .He checks if thedocuments are duly filled,not fake,attested by authority in question and present in order.Incase any document is missing the applicant is contacted electronically or by mail .Theapplicant is contacted by telephone and requested for the document until he denies it beingwith him. This exercise is called FOLLOW UP. the credit appraisal of the loan applicationstarts at this stage. The service centre employees compute the gross salary, IIR, FOIR, LoanEligibility ratio etc.The credit worthiness of the applicant is calculated here.

It is also at this stage that the QUICK DATA ENTRY of the loan application is doneto create a serial no. of the application. after that another page appears and more data isentered .It is now that a special and unique LOAN A/C NO. is created under which all the

loan processes will be carried out. The number that has been generated is communicated tothe applicant by means of a letter and/or electronic communication the system of electronically recording the data helps to create ready reference, a proof ,helps in quick andeasy processing of the data. It also helps to very easily and quickly share data with other employees of HDFC.

The next and important processing performed at the service centre is that of fillingup a document known as the INTERVIEW SHEET. for processing individual loans (salariedcases) .It contains various simple entries like :-

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MunirkaHUB

Login Scanning

DataEntry

RecommendationOver(ROVR)DoubleChecking

Over(DCOVR)Fixedcharges

Disbursementof loan

Application

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1. Name of borrower 2. Name of co-borrower 3. Income details:-Family background and permanent address etc.It also contains various important entries like.5. Gross Salary

6. Rental7. Other incomes8. Obligations: - The various other loans that the applicant is entitled to pay ,their amount,their remaining terms ,source etc.9. Remarks;- This collumn contains the various findings that the employee has found outafter thorough review of the applicants documents such as bank statement, salary slip etc.

Hence the interview sheet contains the important findings which the employee hascollected after careful review of the various documents .The interview sheet helps to cutcorners and helps save time by not having other employees to go through the documentsagain and again .It hence acts as a souce of quick reference.

After all this has been performed well enough the loan application will be arranged ina file and all it will be given its loan a/c no which also acts as its file no. the file is now readyto be sent to the HUB where further processing will take place.

SCANNING: - In this stage the various important documents of the applicant are scanned.this helps to create their electronic copy which acts as a ready reference, a proof, and canalso be shared and utilized by other employees of HDFC Ltd. DATA ENTRY :- The file has been sent to the back end office or the HUB .At HUB thereare many experts with their own specializations . these officials review the various parts of

the filae again and perform many specialized tasks Data entry is also one of these tasks .thisentry is much more different and complex as compared to the earlier performed Quick DataEntry. An exhaustive amount and type of information has to be entered into the ILPS systemranging from Personal Details, Employment Details to Property Rate History and Customer Interactions.

RECOMMENDATION OVER (ROVR) :- The Recommendation OVER is also reffered toas the First Appraisal at this stage certain specially appointed persons have been given theresponsibility of recommending a loan. These people have to take special care of reviewingevery document, and all the small details that need to be considered before considering theloan application to be valid. After this the file is sent to another specially appointed person asexplained below. At this stage if any correction or mistake is present it can be sent back tothe Service Centre.

DOUBLE CHECKING OVER :- As the name suggests at this stage a specially appointed person will double check all the past proceedings .He will examine the Loan file for anydiscrepancies ,any missing and /or misplaced documents,the Credit Appraisal results,etc.thisis a very important stage and must be handled with exceptional care. This is because amistake at this stage can cause a great loss to the company.The Double checker is

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responsible for the ultimate sanctioning of the loan .If any mistake is done at this stage thereis no going back and hence no protection.HDFC takes great care while appointing doublecheckers .They should have completed a select number of years with the company andshould have shown exemplary performance and must posses experience.

SANCTIONING :- An authorized sanctioning authority within HDFC itself will review theremarks of Double Checker and Sanctioning authority .If it considers the loan suitable to beSanctioned it gives its approval .After it has given its approval stamp the ILPS system willautomatically send a letter to the Applicant that his loan has been sanctioned.After this approval the Applicant can go to whichever Service Centre which he selects to gethis loan disbursed.

SPECIAL CASE :- A special case can arise if the applicant has not mentioned the propertyfor which he wants to take a loan .In that case the applicant can let the case be remain

pending . this means that the Applicants loan request will be considered to be complete eventhough he has not decided the property. However the Applicant is expected to finalise the

property in a short time.A Property Address is necessary to1. get the loan disbursed2. Process the Legal and Technical Appraisal of the property and its Papers.

DISBURSEMENT: - The last and final stage in the Home Loan process is that of disbursement. after the sanctioning has taken place the applicant becomes a registeredcustomer of HDFC Ltd .He can now take the disbursement of the loan from any of the various service centre of

HDFC .The loan shall be disbursed in one Lump sum or in suitable installments to bedecided by HDFC with reference to the need and/or progress of construction (which decisionshall be final and binding on the borrower).The borrower hereby acknowledges the receipt of the loan disbursed as indicated in the receipt.

CHAPTER-6

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COMPANY PROFILE

OF

HDFC HOSING DEVELOPMENT FINANCECORPORATION LTD

6.1 INTRODUCTION :-

Housing Development Finance Corporation Limited , founded 1977 by Ravi Maurya and Hasmukhbhai Parekh , is an Indian NBFC , focusing on home mortgages .HDFC's distribution network spans 243 outlets that include 49 offices of HDFC's distributioncompany, HDFC Sales Private Limited. In addition, HDFC covers over 90 locations through

its outreach programmes. HDFC's marketing efforts continue to be concentrated ondeveloping a stronger distribution network. Home loans are also Sharcket through HDFCSales, HDFC Bank Limited and other third party Direct Selling Agents (DSA).

HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has sinceemerged as the largest residential mortgage finance institution in the country. Thecorporation has had a series of share issues raising its capital to Rs. 119 Crores. The gross

premium income for the year ending March 31, 2007 stood at Rs. 2,856 Crores and new business premium income at Rs. 1,624 Crores. The company has covered over 8,77,000 livesyear ending March 31, 2007.

HDFC operates through almost 450 locations throughout the country with itscorporate head quarters in Mumbai, India. HDFC also has an International Office in Dubai,

UAE with service associates in Kuwait, Oman and Qatar. HDFC is the largest housingcompany in India for the last 27 years.

SNAPSHOT-I

Incorporated in 1977 as the first specialized Mortgage Company in India.

Almost 90% of initial shareholding in the hands of domestic institutes and retailinvestors. Current 77% of shares held by foreign institutional investors.

Besides the core business of mortgage HDFC has evolved into a financial

conglomerate with holdings In:

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CHART:- 6.2

HDFC Standard Life insurance Company- HDFC holds 72.26 %.

HDFC Asset Management Company HDFC holds 60%

HDFC Bank- HDFC holds 23.26%.

Intelenet Global (Business Process Outsourcing) HDFC holds 50%.

HDFC Chubb General Insurance Company HDFC holds 74%.

HDFCLTD

72.26%HDFC

STANDARD

LIFE

60%HDFCASSET

MANAGEMENT

23.26%HDFC

BANK ( inclusive

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SNAPSHOT-II

Loan Approvals Rs. 805 billion.

(Up to Dec 2007) (US $ 18.30 bn.)

Loan Disbursements Rs.669 billion

(Up to Dec. 2007) (US $ 15.20 bn)

Housing Units financed 2.5 million.

Distribution

Offices 181

Outreach Programs 90

HDFC Limited

Type Public (BSE: 500010 )

Founded 1977

Headquarters Mumbai ,India

Key peopleRavi MauryaHasmukhbhai Parekh

Industry Housing Finance

Revenue US$ 1.49 billion (2008)

Employees 1,029

Website www.hdfc.com

jjjjjjj

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K EY EXECUTIVE HDFC HOUSING DEVELOPMENT FINANCE CORP LTD :-

Mr. Deepak S Parekh: - serves as Executive Chairman and Chief Executive Officer of theBoard of Housing Development Finance Corp. Ltd., (HDFC). He joined HDFC Limited in asenior management position in 1978. He was inducted as a whole-time director of HDFC

Limited in 1985 and was appointed as its Executive Chairman in 1993. He is the Chief Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of CharteredAccountants (England & Wales).

Mr. K.m mistry: - The Managing Director of the Corporation. He has been employed withthe Corporation since 1981 and was the executive director of the Corporation since 1993. Hewas appointed as the deputy managing director in 1999 and the Managing Director in 2000.He is also a member of the Investors Grievance Committee of Directors.

Ms. Renu S. Karnad: - The Executive Director of the Corporation. She has been employedwith the Corporation since 1978 and was appointed as the Executive Director of the

Corporation in 2000. She is responsible for overseeing all aspects of lending operations of HDFC.New Delhi.BOARD OF DIRECTORS:-

Mr. D S Parekh - Chairman Mr. D N Ghosh

Mr. Keshub Mahindra - Vice Chairman Dr. S A Dave

Ms. Renu S. Karnad - Executive Director Mr. S Venkitaramanan

Mr. K M Mistry - Managing Director Dr. Ram S Tarneja

Mr. Shirish B Patel Mr. N M Munjee

Mr. B S Mehta Mr. D M Satwalekar

GROUP COMPANIES:- HDFC Bank: World Class Indian Bank- among the top private banks in India.

HDFC AMC: One of the top 3 AMCs in India- Preferred investment manager.

Intelenet Global: BPO services for international customers.

CIBIL: Credit Information Bureau India Limited.

HDFC Chubb: Upcoming Private companies in the field of General Insurance.

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6.3 JOINT VENTURE

HDFC Standard Life Insurance Company Limited was one of the first companies to be granted license by the IRDA to operate in life insurance sector. Reach of the JV player ishighly rated and been conferred with many awards. HDFC is rated AAA by both CRISILand ICRA. Similarly, Standard Life is rated AAA both by Moodys and Standard andPoors. These reflect the efficiency with which HDFC and Standard Life manage their asset

base of Rs. 15,000 Cr and Rs. 600,000 Cr. respectively.

HDFC Standard Life Insurance Company Ltd was incorporated on 14th

August 2000.HDFC is the majority stakeholder in the insurance JV with 81.4% staple and Standard of as astaple 18.6% Mr. Deepak Satwalekar is the MD and CEO of the venture.HDFC Standard Life Insurance Company Ltd. Is one of Indias leading Private LifeInsurance Companies, which offers a range of individual and group insurance solutions. It isa joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.)Indias leading housing finance institution and the Standard Life Assurance Company, aleading provider of financial services from the United Kingdom. Both the promoters are willknown for their ethical dealings and financial strength and are thus committed to being along-term player in the life insurance industry- all important factors to consider whenchoosing your insurer.

Business Growth:-

The company commands a market share of over 60% in the housing finance sector.Leveraging on its brand equity HDFC has also entered the Indian Mutual Fund scene quiterecently. HDFC was the only applicant to be given clearance by the government, to enter theRs 250 bn life insurance business. This in itself speaks volumes about the managements

professional reputation.Financial year 2000 proved to be a boon for housing finance companies, as the tax

benefits announced in the budget, coupled with the low real estate prices and risingdisposable incomes, spurred housing demand. As a result, demand for housing finance too

has registered high rates of growth. The housing sector has now been recognized as anengine of economic growth and HDFC is well placed to capitalise on this surge in demand.Against this backdrop, HDFC logged in an excellent performance. The companys approvalsand disbursements during the first half of financial year 2001 witnessed a year on year growth of 33% and 32% respectively. The robust growth in itself is a conclusion thatHDFCs business is far less susceptible to any economy downturn.

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GRAPH:-6.4

BUSINESS OBJECTIVES:- The primary objective of HDFC is to enhance residentialhousing stock in the country through the provision of housing finance in a systematic and

professional manner, and to promote home ownership.Another objective is to increase the flow of resources to the housing sector by integrating thehousing finance sector with the overall domestic financial markets.

ORGANISATIONAL GOALS:- HDFC's main goals are to :- a) develop close relationships with individual households,

b) maintain its position as the premier housing finance institution in the country,c) transform ideas into viable and creative solutions,d) provide consistently high returns to shareholders, ande) to grow through diversification by leveraging off existing client base. In addition to home building loans, HDFC also offers home extension, home improvementand home conversion loans. It also helps to identify and value properties. HDFC also offersdepository services in form of term deposits.

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TABLE:-6.5CONSOLIDATED EARNINGS:-

(As at March 31, 2008)

HDFC consolidated

Return on Equity 27.8% 28.2%

Return on Average Assets 2.7% 2.7% Earnings per share (Rs) 85 95

Profit after Tax (Rs in billion) 24.36 27.13

Total Assets (Rs in billion) 810.99 925.83

DISTRIBUTION NETWORK: - HDFCs distribution network spans 254 outlets thatinclude 54 offices of HDFCs distribution company, HDFC Sales Private Limited (HSPL). Inaddition, HDFC covers over 90 locations through its outreach programmes. Distributionchannels form an integral part of the distribution network with home loans being distributedthrough HSPL, HDFC Bank Limited and other third party direct selling associates.

To cater to non-resident Indians, HDFC has offices in London and Dubai and serviceassociates in Kuwait, Oman, Qatar, Sharjah, Abu Dhabi and Al Khobar, Jeddah and Riyadhin Saudi Arabia.

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HDFC HOME LOAN ADVANTAGE :-

Home loan counselling sharing over 30 years of home loan experience Door step service Helps in finding Dream home Wide Product Range Multiple Repayment Option

Wide Network of financing Post disbursement service Loan repayment option

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CHAPTER-8

COMPARATIVE STUDY OF DISBURSEMENT OF HOMELOANS BY COMMERCIAL BANKS

8.1 - Disbursement of Home loans by different banks:-

HDFC LTD :-

Years No. of Homeloan

accountholders.

Home loan Disbursed(in crore Rs.)

Distributed Recovered Balance

2004-05

2005-06

2006-07

2007-08

2008-09

700

950

1130

1435

1594

90.07

120.00

144.67

180.33

240.00

63.05

91.20

127.31

165.90

228.12

27.02

28.8

17.36

14.43

11.88

Interpretation:-

On the above table, it is evident that there are increase in No. of account holders from700 to 1594 in the year 2008-09. The loan amount distributed among home loan accountholder has also increased from Rs.90.07 crore in 2004-05 to Rs.240 crore in 2008-09. Therecovery procedure for home loans is also strengthening due to increment in recoveredamount, i.e. Rs.63.05 crore to Rs.288.12 crore. So it nut shall there are upward trend in

number of accountholders and disbursement of home loans.

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Punjab National Bank :-

Years No. of Home

loan accountholders.

Home loan Disbursed

(in crores Rs.)Distributed Recovered Balance

2004-05

2005-06

2006-07

2007-08

2008-09

810

950

1120

1433

1500

120.15

183.26

213.65

240.87

265.15

97.28

150.00

185.86

231.07

265.05

22.87

33.26

28.05

9.80

9.10

Interpretation:-

The Punjab National Bank is Public sector Bank. It comes second after State Bank of India in its branch location and expansion. From the Table, the figures show that there areincreasing trend in customer base from 810 in the year 2004-05 to 1500 in the year 2008-09.The bank also show enhancement in loan amount up to Rs.265.15 crore in the year 2008-09.The recovery process of loans in past is slow but now it is increasing.

Standard Chartered Bank :-

Years No. of Homeloan

accountholders

Home loan Disbursed(in crores Rs.)

Distributed Recovered Balance

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2004-05

2005-06

2006-07

2007-08

2008-09

106

130

154

180

260

6.21

11.55

17.06

20.09

24.10

5.27

10.16

14.35

18.68

23.91

0.94

1.38

2.70

1.41

0.48

Interpretation:-

The standard chartered bank is a private sector bank. It has also upgraded its positionin banking sector in DEHRADUN. The figures shown in table reveals that there is upwardshift in customer base of Bank from 106 customers to 260 customers. The bank has alsoincreased its share in housing finance by distributing Rs. 24.10 crores in 2008-09. Therecovery procedure of Home loan is very sound.

ICICI BANK:-

Years No. of Home

loan accountholders

Home loan Disbursed(in crores Rs.)

Distributed Recovered Balance

2004-05

2005-06

2006-07

2007-08

2008-09

650

853

1019

1132

1434

104.33

123.24

150.65

176.75

224.00

98.12

105.00

133.46

144.65

209.16

6.21

18.24

17.19

32.10

14.84

Interpretation :The amount reveal that there is tremendous increase in Home loan accountholders. Theamount distributed as home loan is also increased from Rs. 104.33 in 2004-05 to Rs.224crorein 2008-2009. But the recovery mechanism of the Bank is not so good thats why theoutstanding amount shows fluctuating trend.

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CHAPTER-9

ANALYSIS & INTERPRETATION

The analysis is based on the responses given by customers through questionnaires.

AGE GROUP OF SURVEYED RESPONDENTS

TABLE 9.1:

Age group No. of Respondents18 - 25 years 12726 - 35 years 6736 - 49 years 4650 - 60 years 24More than 60 years 6

CHART-9.1:

Analysis:- From the chart above we find that 47% of the respondents fall in the age group of 18 25 years, 25% fall in the age group of 26 35 years and 17% fall in the age group of 36

49 years.Therefore most of the respondents are relatively young (below 26 years of age). and 6%respondents age are 50-60 years and 2% respondents age are 60 to above years.

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GENDER CLASSIFICATION OF SURVEYED RESPONDENTS

TABLE-9.2

Sr. No. Category No. of Respondents Percentage1 Married 140 70%2 Unmarried 60 30%

Total 200 100%Base 200 respondents

CHART-9.2

InterpretationFrom the table and graph above it can be seen that

70% respondents are married.30% respondents are unmarried.

Educational qualification of respondents

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TABLE-9.3

Sr. No. Category No. of Respondents Percentage1 Under graduate 50 25%2 Graduate 80 40%3 Post graduate 70 35%

Total 200 100% Base 200 respondents

CHART-9.3

InterpretationFrom the table and graph above it can be seen that

25% respondents are under graduate.40% respondents are Graduate.35% respondents are Post graduate.

Number Of years Are You in Dehradun?

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TABLE-9.4

Sr. No. Category No. of Respondents Percentage1 Less than five years 78 39%2 More than five years 122 61%

Total 200 100%Base 200 respondents

CHART-9.4

Staying years in Dehradun

InterpretationFrom the table and graph above it can be seen that

39% respondents are in Dehradun is less than five years.61% respondents are in Dehradun is more than five years.

CUSTOMER PROFILE OF SURVEYED RESPONDENTS

TABLE 9.5:

Customer profile No. of respondentsStudent 7Housewife 5Working Professional 116

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Business 49Self Employed 24Government service employee 24

Chart-9.5

2%

51%

11%

22%

3%11%

student

housewife

workingprofessionalbusiness

self-empoyed

governmentservice

InterpretationFrom the table and graph above it can be seen that:-51% of the respondents are working professionals, 22% are into business and 11% are self-employed, 11% of the respondents are government service employee and 3% of therespondents are student and 2% of the respondents are house-wife.

ANNUAL HOUSE HOLD INCOME?

TABLE-9.6

Sr. No. Category No. of Respondents Percentage1 Less than 2 lacs 98 49%2 Between 2 to 5 lacs 62 31%3 Between 5to 8lacs 30 15%4 More than 8 lacs 10 5%

Total 200 100% Base 200 respondents

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CHART-9.6

InterpretationFrom the table and graph above it can be seen that

49% respondents annual household income is less than 2 lacs.

31% respondents annual household income is between 2 to 5 lacs.

15% respondents annual household income is between 5 to 8 lacs.5% respondents annual household income is more than 8 lacs.

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Do you know about HDFC housing development finance corporation LTD?

TABLE 9.7:

Category No. of Respondents

Yes 164

No 16

CHART:-9.7

Awareness about HDFC LTD

Interpretation:-From the table and graph above it can be seen that

91% respondents are known about HDFC LTD9% respondents are not known about HDFC LTD

Table 9 .8:-

Reasons for getting the home financed

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Sr.No. Number of Reasons Percentage

a. Non-availability of funds 36

b. Reluctancy to pay cash in one go 35

c. Tax benefit 24

d. Any other 5

GRAPH:- 9.8

05

10152025303540

percentage of customers

non-availability of

funds

reluctancy tax benefit any other

Interpretation :-To interpret the response of the questions, the figures shows that most of the

customers find the problem in availability of funds i.e. 36% and very less number of customers found problem in paying cash in one go is 35%, customers get housing loan for tax benefits is 24%. This was the expected response because a large number of people find a

problem of availability of funds which works as an obstacle in owning a dream home.In today's life, people hardly earn both means and ends of life and they don't have

much of money to buy a home or a land to construct house because of cost of property. So,they take the advantage of home loans provided by different banks at different terms feasibleto the customers. There are very less number of people, who don't own home even when they

have sufficient funds and they take the advantage of home loans because they don't want to pay huge cash in one go.On the basis of study, it is concluded that most of people lack of money in fulfiling their dreams and few of them were reluctant to pay cash in one go andwanted to pay their home loans slowly in installments.

Table-9.9

From where you have got your home financed

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Name of Banks / company Percentage of customers

HDFC LTD 55

Punjab National Bank 15

Standard Chartered Bank 07

ICICI BANK 20

Any other 03

To understand the response more effective and closely, it has been showed diagrammaticallyas follows :-

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GRAPH:- 9 .9

From where you have got your home financed

Interpretation:-The analysis showed that a large number of customers prefer HDFC LTD as

compared to others. The data shows that 7% of customers took loan from Standard CharteredBank, 20% of customers from ICICI BANK, 15% Customers took loan from Punjab

National Bank, 55% of customers took loan from HDFC LTD and a 3% of customers fallunder the category of 'Any other' which included State Bank of India, Canara Bank, Punjaband Sind Bank, etc.

The data shows that most of people prefer HDFC LTD compared to public sector banks and other private banks. This is because of the extra services provided by HDFC LTD.However, there is less difference in figures of ICICI Bank and Punjab National Bank. Butthere is considerable difference in figures of the two private sector banks i.e. ICICI bank andStandard Chartered Bank. As ICICI is the market leader in the home loans sector. This may

be the reason for such difference in Standard Chartered Bank's percentage and ICICI Bank's percentage. Another reason for specialized services in home loans, more amounts of loans,and efficient query handling.

However, the analysis showed that the people prefer HDFC LTD for home loan because of their services and excessive feat compared to other banks.

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Table- 9.10Sources of information about Home Loans Scheme

Sources of information Percentage of customers

Newspapers 49

Magazines 16

Banners/Hoardings/Pamphlets 11

Word of mouth 20

Any other source 04

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CHART :-9.10 percentage of source of information about home loans scheme

49%

16%11%

20%4%

newspaper

magazines

banners

word of

mouthany other

Sources of information about Home Loans Scheme

Interpretation :-The data shows that around 20% of customers got information from source of 'Word

of Mouth' which includes information from friends, relatives, colleagues etc. 49% of customers got information from newspapers, only 16% of customers from magazines and4% of customers got information about home loans schemes under 'Any other source' and11% through Banners/ Hoardings/Pamphlets .

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Table-9.11

Opinion about the services of HDFC LTD

Services of HDFC LTD Percentage of customers agreeing

Stronglyagree

Agree Neutral Disagree Stronglydisagree

a. Professionallymanaged

86% 10% 4% - -

b. Reliable &transparent

67% 33% - - -

c. Socially responsible 75% 10% 15% 4% -

d. Customer care 20% 68% 8% - -

e. Query handling 20% 76% 4% - -

GRAPH-9.11

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Opinion of customers about HDFC LTD

0

10

20

30

40

50

60

70

80

90

percentage of customers

a b c d efactor

strongly agreeagreeneutraldisagree

strongly disagree

Interpretation:-

Customers from HDFC LTD are quite satisfied from their services like queryhandling and customers social responsibility of banks towards customers and

professionally managed services. They don't give so good response to reliability andtransparency services of banks. So, customer's satisfaction level toward HDFC LTDservices is lightly satisfied.

Table-9.12

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Opinion of customers about home loan schemes

HDFC LTD :-

Services of HDFCLTD Percentage of customers agreeing

Stronglyagree

Agree Neutral Disagree Stronglydisagree

a. Amount of loan 60% 35% 5% - -

b. Legal formalities 42% 45% 14% - -

c. Interest rates 32% 56% 12% - -

d. Repayment options 26% 64% 10% - -

e. Security demanded 20% 32% 48% - -

f. Installments 55% 40% 5% - -

g. Services 45% 30% 18% 6% 1%

h. Processing for sanction of loan

55% 24% 18% 3% -

GRAPH:- 9.12

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Percentage of satisfaction level of customers of HDFC LTD

0

10

20

30

40

50

60

70

percentage of customers

a b c d e f g hfactors

strongly agreeagreeneutraldisgreestrongly disagree

Interpretation:-

The analysis shows that the customers of HDFC LTD gave 60 percent of amount of loan and legal proceedings, 56% to interest rates, 45% to proceedings and services, 55% toinstallments. So, customer of HDFC LTD didn't give response regarding the services of the

bank / company except to the amount of loan and legal formalities.

TABLE:- 9.13

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DATA GIVES PREFERENCE OF RESPONDENTS OF HOME LOANSCOMPANIES AND BANKS

COMPANYS NAMENO.OFRESPONDENTS (%)

HDFC LTD 78 78

STANDARD CHARTEREDBANK 2 2

ICICI BANK 10 10

PNB 7 7

SBI 3 3

TOTAL 100 100

GRAPH:-9.13

NO. OF RESPONDENTS

INTERPRETATION:-From the table and graph above it can be seen that:-

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78% of the people contacted prefer HDFC LTD to any other and therefore it isranked no.1 by that percent of respondents.

PROBLEMS FACED BY CUSTOMERS IN AVAILING HOME LOANS

There are everything in the world has good or bad points. No doubt banking industry/company has made many efforts to enhance the customer satisfaction but customer still facedsome problems. These are high lightened as below:

1) The customer does not have proper knowledge about different home loan productsso they face problem in making a good deal.

2) There are procedural delays, which harass the customers lot. This will crush thecurtsy of customers to avail the home loan.

3) The attitude of bank employees some times non cooperative and it creates a hurdlein building trust and Confidence among customers about banks.

4) The banks do not take into account the paying capacity of customers. So somecustomers are not able to get amount of loan needed by them.

So above discussed are the problems which faced by customers while availing home loans.

CHAPTER-10

FINDINGS

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1. HDFC LTD having good brand image in the minds of customers.

2. Majority of the people got loans from HDFC LTD only

3. Most of the customers are not aware of the products of HDFC home loans4. Some of the customers felt that the interest rates are some what high

5. Some of the customer not having good faith on private banks like Standard

chartered bank, HSBC bank etc.

6. Most of the people are directly go to HDFC to apply a home loan

7. Some of the customer of HDFC already benefited through HDFC home loan

products and services

8. Customer awareness is medium about HDFC products.

9. HDFC LTD providing good services to their customers.

CHAPTER-11

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RECOMMENDATIONS AND SUGGESTIONS

These suggestions have been discussed as follows :-

1) To increase their customers, the HDFC LTD should provide specialized servicesin this sector. These services can be such as proper guidance to the customer regarding the

processing of loans, especially for the customers who are illiterate.

2) To satisfy their customers and for good dealings in future, the HDFC LTD shouldmake p rompt disbursement of loan amount to the customers so that they can buy or constructtheir dream home as early as possible.

3) The HDFC LTD should use easy procedure, or say, less lengthy procedure for thesanctioning of loan to the customer. There should be less number of legal formalities, in casethis exists, then, these should be completed in less time. This will be helpful in attractingmore customers.

4) Although the interest rates on specific norms, yet customers seek less interest ratewhich can lower their cost of house. So banks should try to lower their interest rates. Needlesto say, that the bank which is having lower interest rates, have the maximum clients for loans.

5) HDFC LTD provide loan according to the repaying capacity of the customer andhis/her eligibility. Due to which, some customers are not able to get amount of loan needed

by them. So, the HDFC LTD should soften their norms regarding the loan amount.

6) Create awareness: The Company has to take care of awareness creation about the products and services among the customers.

7) Charges: The Company has to reduce the mortality and administration charges.

8) The company has to reduce their interest rates on home loan products and services.

9) The company has to identify the potential customers.

10) Company should consider the present competition and should act according tothe customer needs.

CHAPTER-12

CONCLUSION

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1) In my study we came to know that many peoples are interested to take a home loan from

HDFC LTD to construct their homes.

2) Home loans have long period when compare to other personal loans and other loans. So

peoples are confused to take a home loan.

3) Even though the interest rates are high peoples are willing to take a loan from HDFC LTD

due to some reasons.

4) The interest rates also some what high when compare to other banks

5) The loan sanction process is low when compare to other banks.

6) For disbursement process is also it will take low time when compare to other banks

Finally the whole research was carried out in a systematic way to reach at exactresults. The whole research and findings were based on the objectives. However, the studyhad some limitations also such as lack of time, lack of data, non-response, reluctant attitudeand illiteracy of respondents, which posed problems in carrying out the research. But proper attention was made to Carry out research in proper way and to make accurate conclusion for the HDFC LTD which may beneficial for banks to enhance their customer base.

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REFERENCES

Berstain David(2008), Home equity loans and private mortgage insurance: RecentTrends & Potential Implications, Vol.3 No.2, August 2008, Pp. 41 - 53Dr. Rangarajan C. (2001), A Simple Error Correction Model of HousePrice.Journal of Housing Economics Vol. 4, No. 3,pp 27 34Fanning (1982), The Demand for Home Mortgage Debt Journal of UrbanEconomics, Vol 11 No 2, November, pp. 770-774Godse (1983), looking a fresh at banking productivity, Journal of Real EstateLiterature, Vol. No. 13, Page 141 to 164.Haavio, Kauppi(2000) , Residential Lending to Low-Income and Minority Families:Evidence from the 1992 HMDA Data," Federal Reserve Bulletin,Vol no 80(2),December 2000 Pp-79-108Kulkarni (1979), Development responsibility and profitability of banks Journal of Economic Perspectives, Vol 9 No 1 ,pp. 26-32.La courr, Micheal(2007) , Economic Factors Affecting Home Mortgage DisclosureAct Reporting The American Real Estate and Urban Economics Association, Vol.2

No. 2 May 18, 2007, Pp. 45 -58La cour Micheal(2006) , The Home Purchase Mortgage Preferences Of Lowand-Moderate Income Households, Forthcoming in Real Estate Economics , Vol 18, No4 , December 20, 2006, p. 585.Vandell ,kerry D(2008), Subprime lending and housing bubble:tail wagdog?International Journal of Bank Marketing, vol 21,no 2, pp. 53-7Brochure on home loans from HDFC LTD

NEWS PAPERS

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http://www.thinkplaninvest.com/2009/01/hdfc-will-cut-home-loan-rates/

http://www.suncorp.com.au/suncorp/personal/home_loans/tips/faq.aspx

http://investing.businessweek.com/research/stocks/people/people.asp?ric=HDFC.BOhttp://www.economywatch.com/companies/forbes-list/india/housing-development-finance-corporation.html

http://www.hdfcindia.com/loans/home-loan.asp

http://docs.google.com/gview?a=v&q=cache:woJTMDV1HLYJ:www.hdfc.com/pdf/32AGM%2520speech.pdf+hdfc+housing+finance+development+product&hl=en&gl=in

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http://ayaanbayaan.com/hdfc-ltd-financial-results-indian-gaap-for-the-period-april-to- june-2009/

http://www.valuenotes.com/press/pr_HDFC_250ct05.asp?ArtCd=70013&Cat=C&Id=100

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