HDFC Full Form is Housing Development Finance Corporation
What is the full form of HDFC
HDFC: Housing Development Finance Corporation
HDFC stands for Housing Development Finance Corporation. It’s a famed casing finance pot of India which substantially provides casing loans to low and middle- class people to buy house and builders for the domestic systems. Its primary ideal is to ameliorate the domestic casing stock through the provision of Housing Finance in a methodical way and to enhance home power in the country.
HDFC Full Form
The pot is one of the leaders in the Indian casing finance request. Its headquarters is in Mumbai, India. As of July 2017, Aditya Puri is the MD & CEO of HDFC bank. It has an expansive distribution network comprised of 427 connected services. It also has three representative services in London, Dubai and Singapore to offer Home Loan products.
HDFC has a long and different list of accessories to give wide range of loan products, banking services and insurance services.
Some of the popular accessories of HDFC are listed below
HDFC Bank Ltd
HDFC Developers Ltd
HDFC Investments Ltd
HDFC Effects Ltd
HDFC Trustee Company Ltd
HDFC Realty Ltd
HDFC Property Gambles Ltd
HDFC Venture Capital Ltd
HDFC Ergo General Insurance Company Ltd
HDFC Standard Life Insurance Company Ltd
On October 17, 1977, HDFC was established as a Public Limited Company. It was promoted by the Industrial Credit and Investment Corporation of India.
In 1980, it introduced loan linked deposit scheme in which one had to begin with a passbook account with HDFC to come eligible for the loan.
In 1981, HDFC launchedNon-Resident Certificate Deposit Scheme.
In 1985, it introduced Home Saving Plan which enabled a person for the loan to buy a house at8.5 per annum.
In 1986, it offered a service called Advanced Processing Facility (APF) under which the builders could finance individualities buying the hearthstone in their systems.
In 1989, with the fiscal support of Krditanstalt Fur Wiederauflau of Germany, HDFC offered two types of loans; Home Enhancement Loans (HIL) and Home Extension Loans (HEL) to economically weaker individualities.
In 1994, HDFC promoted the HDFC Bank to offer banking services. It was a private sector bank which was established with the blessing of RBI.
In 1999, the pot launched its websitewww.hdfcindia.com which now comewww.hdfc.com
In 2000, the pot incorporated HDFC Standard Life Office in Mumbai and in 2002, after a common adventure with Chubb Corporation, the USA it promoted HDFC-Chubb General Insurance CompanyLtd. to offer general insurance.
In the time 2009-10, it offered HDFC Methodical Savings Plan. It was a yearly saving plan with a variable rate of interest.
In 2010-11, it launched an online real estate gate, HDFC Real Estate Destination (HDFC RED), for the buyers to search parcels.
In the time 2011-12, it introduced its new attachment, HDFC Education and Development ServicesPvt.Ltd. to give education loans.
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