Making informed decisions is essential for success in personal finance. With the volatile market trends and the changes brought by 2020, the options you have chosen for improving your finances in the past may not be achievable at this time. Investing with a bank that you trust and that serves you is vitally important to securing your future.
To honor these organizations, Femina and ET Edge have come together for the inaugural Femina Power Brands 2021, a virtual gathering of esteemed guests and business leaders from the lifestyle, media and entertainment industry to unveil the most sought-after lifestyle brands from the past year. HDFC was celebrated at this event for the excellent strength of its brand resulting from its tireless focus on corporate governance and its high ethical standards. HDFC has consistently strived and earned an excellent reputation for professionalism, transparency, integrity and an impeccable record of user-friendly services. These values have not only helped to perpetuate but have propelled the company further. They have you covered for all kinds of service portfolios, from home loans, home loans, business loans for non-residential premises (PRNs), rural housing loans.
Vision and mission
Our vision is to make India a proprietary democracy. And our mission is to improve the residential housing stock in the country by providing housing finance in a systematic and professional manner and to promote home ownership. We aim to increase the flow of resources to the housing sector by integrating the housing finance sector into all national financial markets.
What is the relationship between HDFC and its consumers?
HDFC has always believed in the philosophy of “learning by doing” and has always been open to ideas from customers, employees and supporters. In fact, products like home improvement loans, add-on loans, hybrid home loans that were launched after the home loan product and were based on customer feedback and needs. Product innovation at HDFC follows a simple rule: Simple products, when executed well, capture the attention of consumers.
The HDFC brand derives its strength from the trust it has built over the years. As a customer-centric organization, our service model revolves around customers. This has helped us gain the trust of our customers as we are now seeing the 3e generating the return of our clients for a loan for their own home. Our experience gained over the years has enabled us to advise and guide clients, which is a differentiator for which HDFC is well known.
HDFC has consistently strived and earned an excellent reputation for professionalism, transparency, integrity and an impeccable record of user-friendly services. These values have not only helped to sustain, but also propelled the company further. And despite the fiercely growing competition, especially from commercial banks, HDFC has steadily strengthened its core business due to its operational efficiency and strong customer base.
HDFC’s strength lies in its pioneering value-added services, delivered by a dedicated team of trained and experienced professionals. Whether it’s having advanced loan processing capabilities, offering personalized home loan products, a bunch of flexible repayment options to serve its growing customer base, or providing Technical documentation advice, HDFC has always had an impeccable record of user-friendliness.
Value proposition for consumers
HDFC has always been a customer-centric business. He has always sought to establish long-term customer relationships. As we know, the cost of acquiring a customer is higher than maintaining and strengthening existing relationships.
HDFC’s extensive product portfolio includes both home and non-home loans, meeting the diverse needs of consumers. Its diverse portfolio of loan offerings includes loans to residents and NRIs for the purchase / construction of a house or office, renovation, extension, rural housing loan, loan against property, etc. Apart from this, each product is customized to meet the various requirements of particular customers. While these are flexible repayment options, include the Gradual Repayment Facility (SURF), Flexible Loan Payment Plan (FLIP), tranche-based EMI, Accelerated Repayment Program, and ‘telescopic repayment option.
HDFC has focused and invested in digital transformation over the past few years for better customer engagement, but the pandemic has led to a much greater focus which has allowed it to continue operating as usual. HDFC is among the first in the Indian mortgage industry to offer instant online electronic approval for a home loan. The HDFC website offers various new features to improve customer experience, such as live chat, one-click call feature, missed call service, and home assistance module. The online home loans module on the website allows the user to complete the entire home loan application anytime, anywhere from the comfort of their home or office. The existing customer portal offers a host of digital services to help the customer easily manage their home loan account. From submitting an online disbursement request to checking interim interest or downloading interest statements online to instant requesting a top-up loan.