CONTENTS

Page No

1. Introduction 2-8

2. Review of Literature 9-15

3. Conceptual Framework 16-21

4. Industry Overview 22-36

5. Findings & Suggestions 37

6. Conclusion 38

7. Bibliography 39

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 CHAPTER 1

1.1 Introduction

Over the last few decades the role of loan sector has undergone a
paradigm shift. It is widely recognized as an important aspect of the source of loan
for the people and considered it as a short and long-term investment.

After zeroing down on my research area, I have collected information

through primary and secondary data which is used just for reference. The
researcher had a short discussion with consumers.

The objective of this report is to study Customer Perception and Attitude

towards home loan. For this survey was conducted through structured
Questionnaire.

In todays competitive business world every customer is significant for the lending
home loan. The customer expectations are very high so it should be kept in mind
and offer them best possible service.

The report deal with the conceptual background of home loan and over view of the
banks, the next part deals with research design of the study that is problem
identification, objectives and how the research was carried out. The outcome of the
study shows that the level of customer awareness towards Home Loan is good with
the benefits and service what they are giving and most of the people wants to go
for investments.

Banks can start some good promotional activities to build its brand and to make
recognition by all the peoples in the market .The effective marketing channel with
the personal selling is an essential factor in influencing banks growth

1.2 Statement of research problem

The researcher could not find research pertaining to customers perception

towards home loan all over India; hence it is restricted within specific region
of Mumbai.

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 Thus the researcher has made an effort to do study in this area and topic has
been entitled as A Study on Customer Perception & attitude towards Home
Loan.

1.3 Significance of the study

The researcher of this undertaking desire to make significant contribution

to the better improvement and further development towards the home
loan services.

The proposed study will help the people to have a deeper understanding
to the home loan services provided by banks.

1.4 Scope of Study

This report is based on the study conducted at Mumbai within specific area
amongst few numbers of people.

It aims to understand the companys various services to the customer to

overcome the competition.

1.5 Limitations of the study

Because of the limited time, research is conducted with only 100 customers.

The data collected from the customer are qualitative in nature i.e., views,
perception, satisfaction, opinion etc., may change from time to time.

The data collected are primary in nature. Hence there is chance for a biased
of misleading respondent from the customer.

On few occasions customer were reluctant to give information, because they

were busy.

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1.6 Objective of the Study

Analyzing the customers perception on home loans offered by banks.

To study home loan services provided by HDFC bank and SBI bank.

1.7 Hypothesis of the Study

Quite often a research hypothesis is a predictive statement, capable of being tested

by scientific methods that relates and independent variable to some dependent
variable.

The following hypotheses were set in order to achieve the objectives.

There is no significant relationship between the purpose of investment in

insurance and the annual income.

There is no significant relationship between the risk taken while investing

and the amount invested.

There is no significant relationship between age of the respondent and the

risk taken by them while investing.

1.8 Research Design

This section explains the research methods, procedures and analytical

frame work of the present study. The research methods have been designed to fit
the main objectives of the study. Since not much research work has been done in
the area of housing finance provided by various types of bank from the customers
point of view, the study is undertaken in Mumbai city which is the fastest growing
Metro city in India, as per the latest census data. Here HDFC and SBI have been
compared in order to get a comparative study.

Primary data: Questionnaire

Secondary data: There was extensive use of secondary information in the form of
books, articles published in magazines, journals, newspaper, reports HDFC & SBI
bank, websites, circulars, pamphlets of the banks, clippings etc. RBIs bulletins,
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publication of Indian banks, association of home loan, Indian institute of bankers,
Indian banking association, NBFCs journal, various published and unpublished
literature and websites.

1.8.1 Sampling:

Sampling procedure:

The sample is selected in a random way, irrespective of them being investor or not
or availing the services or not. It was collected through personal visits to the
known persons, with formal and informal talks and through filling up the
questionnaire prepared.

Sample size:

The sample size of my project is limited to 100 only. Out of which only 90 people
attempted all the questions. Other 10 were not responded.

1.8.2 Research Methodology:

The formidable problem that follows the task of defining the research problem is
the preparation of the design of the research project, popularly known as Research
Design. Research design is a plan, structure and strategy of investigation
conceived to obtain answers to research questions and to control variance. The
research used here is descriptive research.

Analysis and Result

A well-structured questionnaire was circulated among the respondent and the

responses are:

Age No. of respondent Percentage

21-35 75 75%
35-50 10 10%
50 and above 15 15%
Total 100 100%

Sex No. of respondent Percentage

Male 61 61%
Female 39 39%
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Total 100 100%
Occupation No. of respondent Percentage
Business 15 15%
Service 35 35%
Self Employed 15 15%
Others 30 30%
Total 100 100%

Qualification No. of respondent Percentage

Under Graduate 10 10%
Graduate 65 65%
Post Graduate 25 25%
Total 100 100%

Marital Status No. of respondent Percentage

Married 43 43%
Unmarried 57 57%
Total 100 100%

Monthly Income No. of respondent Percentage

Below 20000 27 27%
20000- 50000 35 35%
50000-& above 38 38%
Total 100 100%

Type of Housing Loan No. of respondent Percentage

Purchase 37 37%
Construction 23 23%
Renovation 12 12%
Conversion loan 28 28%
Total 100 100%

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Queries regarding the complexities faced by customers in getting home loan
50
45
40
35
30
25
20
15
10
5
0 Very Little
Justified
Satisfactory
Not Satisfied

Which type of bank would you like to choose?

Type of Bank No. of respondent Percentage

Nationalized 37 37%
Private Bank 30 30%
Other Financial 33 33%
Institution
Total 100 100%

OBSERVATION

75% of the respondent belong to age group of 21-35 years, whereas 61% of them
were males and the rest females.35% of respondent belong to service class and
15% belong to business fraternity.65% of respondent seeking home loan were
graduates and 25% were post graduates. Out of total respondent 35% of the
respondent has monthly income between Rs20000-Rs50000. 37% of the
respondent had procured the loan to purchase the house property. Whereas 35% are
in favor that duration taken by bank is justified. 44% of the respondent said that the
processing charges of the bank are not high.33% justified that the paper formalities
of the banks are justified.37% of the respondent are satisfied by the transparency in
operations of banking activities.40%response to foreclosure procedure as

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satisfactory and 37% of the respondent like to prefer nationalized bank to obtain
home loan.

1.8.3 Sample design:

The precision and accuracy of survey results are affected by the manner in which
the sample has been chosen. The first thing for a sample plan is definition of the
population to be investigated. Defining the population is often one of the most
difficult things to do in sampling. Although ideal conditions might indicate threat
the census would be preferable, such ideal conditions rarely exist in the real world.
A census is not feasible practically, therefore sample is used.

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

1.9 Scheme of the Study

The scheme of the research is as follows: The first chapter contains introduction,
objectives of the study; methodology of the study, Limitations of the Study,
research design, hypothesis, etc.

In chapter II, Review of Literature is outlined is outlined.

In chapter III, Conceptual Framework is highlighted.

In chapter IV, Banking industry in India is detailed.

In chapter V, Comparison between home loan services of HDFC & SBI is

explained.

Chapter VI shows the findings of the research and chapter VII contains the
conclusion and Suggestions for the research.

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 CHAPTER 2
REVIEW OF LITERATURE

2.1 Introduction
Before giving details regarding the research methodology used in the study, it is
appropriate to present a brief overview of the research articles, case studies, and
books written on this particular topic. The area of study may be within the country
or outside the country. Review of literature helps a researcher to get acquainted
with his/her selected research problem and also may provide some guidelines in
selecting a proper research methodology. It is also helpful in finding out the
research gaps in the existing literature. This will help the researcher in fine-tuning
his/her research problem and methodology. Another advantage of reviewing in the
existing literature is that in cases where the research problems are similar, the
conclusions and findings may be easily compared. This will help the researcher in
determining whether his/her findings are possible or not. The literature under
review may be of two types: (i) Concerning the conceptual and theoretical
framework. (ii) The empirical literature dealing with the studies made in the past
which are similar to the one that the researcher intended to undertake. The basic
outcomes of such review will be the knowledge as to what data are available for
analytical purposes, which will help the researcher to specify his/her own research
problem in a more meaningful way. Thus, review of literature is helpful in
formulating the research problem and also helps the researcher in deciding about
the most appropriate methodology to be used. While comparing the results of the
earlier studies with his/her own results, care must be taken to verify whether the
objectives and methodology are similar. While reviewing the earlier studies a
researcher has to state the objectives of the study, describe the concepts and
definitions used, the methodology employed and the important findings and
conclusions of the study. The researcher is supposed to make a critical review of
methodology used by the earlier researcher of the methodology if any. The
researcher should improve his methodology in light of this.

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A Paper entitled Is Housing Finance Safe as House? Or Delinquency in Housing
Finance Authored by Srinivas S.P. (2006) The study revealed that disbursement of
home loan increased at increasing growth rate during the growth rate of
disbursement in 2000-01 compared to the earlier year was 13.7% which increased
up to 76% in 2002-03. The reasons behind the growth in housing loans are,

(i) Easy availability of housing loans

(ii) Growing population

(iii) Nuclear family system

(iv) Newer segments for finance

(v) Urbanization of Indian economy

(vi) Shortage of dwelling units

(vii) Declining of cost of house to income ratio etc and,

(viii) Tax benefits.

The study revealed that banks have also concentrated on housing loans because the
housing loans are totally secured as the mortgage on the property securities the
loan. Also the capital adequacy requirement for general lending is at 100% for
housing loans. The processing and documentation of housing loan is very easy due
to extensive utilization of technology. But there are also some common frauds
occurring in housing finance like an individuals inflate their income statement,
manipulate the income tax returns, inflate the value property, lack of appraisal &
follow up etc. The researcher has also explained the new concept of NPL (Non-
performing loan). The housing finance has been associated very low risk. But
empirical evidence suggest that non-performing loan in the Indian housing finance
sector are much higher than in a developed market. NPL rise in India because of
willing defaulters and an emerging population of fraudsters. This is also a
reflection of industrys aggressive marketing and some inadequacies in appraisal
standards and system. Such high NPL have two-fold impact i.e. they depress yield
and entail a credit cost in the form of provisioning and write-off. The researcher
also found that the NPL of housing finance companies are higher than the banks.
The suggestion given by researcher is that if the banks have not taken the

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prudential norms for housing loans they have to conduct recovery mela instead of
present loan mela.

A Research Article entitled Housing Finance in India A Case Study of LIC

Housing Finance Limited by Singh Fulbag et.al. (2006)

In this paper, the authors have studied the housing finance in India. Housing, as
one of the three basic needs of life, always remains on the top priority of any
person, economy, government and society at large. In India, majority of the
population lives in slums and shabby shelters in rural areas. From the last decade,
the Government of India has been continuously trying to strengthen the housing
sector by introducing various housing loan schemes for rural and urban population.
The first attempt in this regard was the National Housing Policy (NHP), which was
introduced in 1988. The National Housing Bank (NHB) was set up in 1988 as an
apex institution for housing finance and a wholly-owned subsidiary of Reserve
Bank of India (RBI). The main objective of the bank is to promote and establish
the housing financial institutions in the country as well as to provide refinance
facilities to housing finance corporations and scheduled commercial banks.
Moreover, for the salaried section, the tax rebates on housing loans have been
introduced. The paper is based on the case study of LIC Housing Finance Ltd.,
which analyzes region-wise disbursements of individual house loans their portfolio
amounts and the defaults for the last ten years, i.e., from 1995-96 to 2004-05 by
working out relevant ratios in terms of percentage and the compound annual
growth rates.

A Research Article entitled Housing Loan Frauds: Are they Avoidable? by

Padhi Manohar (2007)

This article addressed the key issues of housing loan frauds. Aggressive growth in
housing finance by the banks is for the reasons of Tax incentives on repayment of
principal and interest, rising income level of the middle class, affordable interest
rate, completion amongst banks and housing finance institutions, low returns on
other investments, low incidence of NPA, and housing as priority sector lending for
banks. Housing loans as a percentage of GDP, is 57% in UK, 54% in USA and it is
only 2.5% in India. It shows vast scope for housing loans in India. Increased focus
of banks in housing finance is also not free from fraud. Fraud is one of the reasons
for turning the housing loan account to NPA. The main reason for housing loan

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turning NPA are loss of job, closure of the factory/company, illness of the
borrower, dispute between builder and borrower, over-finance to the borrower,
agents approaches the bank for section of housing loans in bunches, sections of
loan on fabricated documents without proper verification (Benami A/C, submission
of fake title deeds of immovable property, colored Xerox copy of the title deed,
subject of fake income certificate etc.) but the precautionary measures prevent the
frauds in housing finance like pre-sanction appraisal, documentation and creation
of charge and post-sanction follow-up. The other preventive measures like
Identification of Borrower, Guarantor and Branch should insist opening of bank
A/C as per KYC Norm, pre sanction verification report, site verification, existence
of property, valuation of property photo of the immovable property, approval of
map and cost-estimate, scrutiny of title, end-use verification of amount disbursed.
Pay order should be issued in the name of banker, cross verification with balance
sheet document of title should be in DEMAT form, in case of large value of loan
bank approach subregistrars office to verify, Bank should develop in-house
expertise etc.

A Research Paper entitled Risk in Real Estate Financing Authored by Bagchi S.

(2008) The author has analyzed the factors affecting risk and suggests that real
estate financing will be the order of the day in a new age bank / Institution lending
in the interest of the development of the country. Real estate financing is no longer
untouchable as it used to be before 1990s. It is also a fact that this sector
contains a higher order risk of default and lower order scope of eventual
recovery since the fate of real estate is interwoven with macro-economic
fundamentals and volatility of asset prices. The researcher has given the following
suggestions to avoid risk factors in real estate financing.

Land records at the land registration offices have to be streamlined and

brought under the contemporary technology support system.
Bank/Financial institutions should create a special cadre of credit
investigation offices who need to perform like private detectives to
ascertain the track record of the borrowers.
No loan/advance should be granted by way of equitable mortgage but a
simplified registered mortgage system can be devised with provision for low
registration fee for loans against any real estate.

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 Title Insurance system should be devised to enable lenders to obtain
insurance cover from any approved insurance company.
At the Corporate head quarters of each banks/financial institution there
should be a cell known as Real Estate Financing Cell which should be
involved in the entire cycle starting with sanction and disbursement of such
loan to periodical monitoring and recovery thereof.

A Paper entitled Whether Todays Customers are satisfied? A Study with

Banks Authored by Ashok Kumar M. et.al. (2009)

The objective was to rank the banks on the basis of customers satisfaction and to
find out the problems faced by the present day customers with the banker and to
make suggestions for better working of the banking services. The study is
restricted to Coimbatore headquarters only. Only 105 customers were considered
as sample for the study which was conducted during the months of May and June,
2008. SBI and its associate bank were taken for the study. The findings of the study
are:

42.86% of the respondents are in the age group of 31-40 years. 68-57% are
married, 42.86% have post-graduate education, 36.19% are businessman,
and 35.24% are employed. 37.14% respondents income range between
`1,000 to `15,000.
With infrastructure 51% of the respondents were found to be satisfied. With
regard to location of the bank, 25% of their customers are highly satisfied.
Regarding attitude of the bankers toward its customers, only 59% are found
to be satisfied and only 6.7% were found to be highly satisfied. Regarding
investment opportunities, 35% of the respondents are satisfied 16.19% of
the respondents were dissatisfied regarding advice towards investment.
51% of the customers are satisfied with the banks the behaviour towards
customers by the bank employees. Regarding Evening Banking services,
phone banking services & Sunday banking services there were 33%, 18%
and 11% dissatisfied customers respectively. With regards to the core
banking service only 28.9% of the respondents were aware of the
functioning of CBS, with regards to online banking services 70% and the
functions of smart card, digital cash and e-purse 69% respondents are

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 satisfied. 80% of the customers are satisfied with the proximity of the
ATM. 41% are satisfied regarding the approach of banks towards
redressal. Overall rate compared to age and income was found to be
significant whereas rest of the factors considered do not have significant
influence on the other. The researcher suggested that, - The facilities of the
bank should be made more convenient for customer comforts. - The ATM
services should be extended with few more cabins. - Customer meets should
be organized at reasonable intervals so that they can establish better rapport
with the customers and educate them about the latest advancement made in
the bank. - Additional branches can be opened to reduce the burden of work
on the existing branch. - The banks should improve the working
performance of operations.

A Research Paper entitled Prospects and Problems of Housing Microfinance

in India: Evidence from Bhavanashree Project in Kerala State Authored
by Manoj P.K. (2010)

He has examined the exact nature of housing microfinance in India, its problems
and prospects and particularly deterrents to its growth, with a view to suggesting
suitable remedial strategies for its faster development; based on an empirical study
of Bhavanshree. The Objectives of this study were: To make an overall study of
the housing microfinance initiatives the world over their performance track
record, trends and patterns. To critically study the extent and nature of housing
problem in India, and to examine the need for alternative financing models. To
make an empirical study of activities of Bhavanshree. To identify the major
problems of existing Bhavanshree Schemes and also suggest suitable strategies
for its fast and healthier growth. The study is based on primary and secondary data.
Primary data were collected using two separate interview schedule viz. for the
Bhavanashree beneficiary and respective bankers for the Bhavanashree unit
concerned. Secondary data were collected from various publications. This study
concluded that in spite of various shortcomings of the housing microfinance
scheme Bhavanashree sponsored by the Government of Kerala, has got immense
potential to come up if suitable strategies are adopted. Due to the wide range of
microfinance activities currently being undertaken by Kudumbashree and the

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excellent nexus with banks, initiating productive housing scheme and obtaining
better terms from banks like fixed rate loans appear to be quite feasible.

A Research Study entitled A Study on Customers Preference and Satisfaction

of Four Basic Banking Services in Coimbatore and Erode Authored by
Vetrivel T. (2010)

The objectives of the study were:

To know the overall satisfaction and dissatisfaction levels of bank customers

with respect to four-dimensional banking services Loan services, deposit
scheme services, Insurance services and value added services.
To know the customers opinion and preferences about various supporting
factors of four dimensional banking services.

For this purpose, 300 customers of two major cities of Coimbatore and Erode were
selected at random and the study period was for nine months. (August 2009 to
April 2010). Chi-square test was used to analyze the data.

The important findings of the studies were: -

As far as overall satisfaction is concerned out of the 172 bank loan

customers i.e. 50% of customers were satisfied and the remaining 50%
dissatisfied due to poor services, penalties for late payment, fear of threats,
interest rate confusion, hidden cost, unknown deduction etc.
Overall satisfaction on bank deposit schemes resulted positively.
Banking insurance services still need to be given attention by focusing on
customer issues.

The study reveals that new innovative schemes, strategies to cater to non-users of
insurance services have to be adopted, in value-added services. Customers
preference for net banking was least ranked and if the bankers wish to increase net
banking traffic, bankers should take maximum efforts to educate the consumers by
offering online training instead of handing out instruction manuals. The researchers
suggest that if the banks want to sustain customers on a long-term basis, bankers
should work towards 100% customers satisfaction.

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 CHAPTER 3
CONCEPTUAL FRAMEWORK

Housing Loans provided by banks are included under priority sector provided they
satisfy the following criteria:

(i) Loans to individuals up to 25 lakh in metropolitan centres with population

above ten lakh and 15 lakh in other centres for purchase/construction of a dwelling
unit per family excluding loans sanctioned to banks own employees.

(ii) Loans for repairs to the damaged dwelling units of families up to 2 lakh in rural
and semi- urban areas and up to 5 lakh in urban and metropolitan areas.

(iii) Bank loans to any governmental agency for construction of dwelling units or
for slum clearance and rehabilitation of slum dwellers subject to a ceiling of 10
lakh per dwelling unit.

(iv) The loans sanctioned by banks for housing projects exclusively for the purpose
of construction of houses only to economically weaker sections and low income
groups, the total cost of which do not exceed 10 lakh per dwelling unit. For the
purpose of identifying the economically weaker sections and low income groups,
the family income limit of Rs.1.20 lacs per annum, irrespective of the location, is
prescribed.

(v) Bank loans to Housing Finance Companies (HFCs), approved by NHB for their
refinance, for on-lending for the purpose of purchase/ construction/ reconstruction
of individual dwelling units or for slum clearance and rehabilitation of slum
dwellers, subject to an aggregate loan limit of 10 lakh per borrower.

The home loans provided by the banks are more or less same at the basic level. The
banks generally try to go ahead of other banks in terms of attracting number of

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customers to their countries. For this they are trying to offer some unique services
as per the unique requirements of the unique important customers.

CHAPTER IV
INDUSTRY OVERVIEW
Indian home loans industry:- Indian Home loans industry is growing at a fast pace
of 30% per annum, which is shown in the statistics with average ticket size (loan
size)and Amount disbursed is rising every year the opportunities have become
more dominant for different organization in India. The demand drivers are fast
growing middle class population, rise in working women workforce, bigger
aspirations of youth, Tax saving, Transparency in the real estate market.

Advantages of home loans

Appealing Interest Rates:- For increasing their customers base and to help the
customers, many attractive rates of interest are offered by the banks to their
customer. According to customers need and to facilitate home loans are provided
on either fixed or floating rates by many banks.

Assistance in Owning a Home:- Customers, for owning a home, are provided by

technical and financial assistance by the banks.

No Need of a Guarantor:- Some banks have relieved their customer to find a

guarantor for availing the home loan. Now-a-days commercial banks have
liberalized their laws for the customers to avail home loans. The guarantor is no
more required by the banks to get a loan sanctioned.

Door to Step Services:- For the benefit of the customers and considering the
present busy life of the customers, many banks provide doors to step services to the
customers from preliminary level till the disbursement of the home loan. For
example, Union Bank of India and ICICI Bank provide doors to step services to the
customers.

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Loan period:- According to the loan amount and the creditability of customers
many banks provide a longer period for repayment of loan amount, i.e. up to 15-20
years as maximum loan tenures, to lessen burden on customers to repay their home
loan.

Free Accidental Death Insurance:- A number of banks also propose free accidental
death insurance to the customers together with the housing loans for their benefit.
Such home loans benefits have become so popular among customers that anyone
who could not afford to buy a house can now buy it with a home loan, thus making
their dream of owning a home become true.

Disadvantages of home loans:-

Interruptions in Processing of Home Loan:- Several times the process of providing

home loans gets delayed, because of interruptions in completion of various
formulations. As a result, customers are weakened mentally and financially as well.

Fluctuating interest rates:- Due to one or other reasons, at different intervals,

floating rates fluctuate. Such fluctuations lead to increased rate of interest and
thereby increase the price of home loans.

Higher Cost of Processing:- A high processing fee is charged by the public sector
banks for sanctioning home loans. Serious charges at different levels are levied
from the customers to carry out the requirements. Consumers are often deprived of
availing home loan benefits, if they are not in a position to pay such charges.

Obstructions in home loan disbursement: - For disbursement of home loan amount,

a customer has to face a lot of problems. Home loan disbursement to the customers
gets delayed customers, owing to the legal formalities involved, hence causing
obstructions in the way of the customers to get a home loan. These are a few
disadvantages or limitations of availing home loans. A few banks charge high
instalments for repayment of the home loan amount, thereby causing problems to
customers. A good and prompt service to the customers can remove these
limitations.

Home loans disbursement: -

The every bank has its own procedure to disburse the loan amount among
customers. After choosing your right home, the next step is disbursement of home

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loans. The loan amount is disbursed after identifying and selecting the purchased
property or home and thereafter submitting the necessary legal documents. In the
disbursement of home loans a clear title and full verification to ensure that a person
has full rights on his house.

Conditions regarding co-applicants: - All Housing Finance Institutions set down

criteria as to who can be the co-applicants. Coapplicants to the loan will be co-
owners of the property. Minors are not permitted to be as either co-owner or as co-
applicants by these institutions as per law, as they cannot enter into a legal
contract. Even friends or relatives who are not in blood relations are also not
permitted to take a property jointly. However, to get a higher loan income of co-
applicants can be clubbed together for eligibility. A Table clarifying co-applicants
acceptability of relationship for income clubbing is given below:

Clubbing Income of Co-applicants:-

It is as follows:-

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 plan to stay together in the new property and are
currently staying together, only then their income can be clubbed for
availing home loans.
Brother-Sister: - No clubbing-is possible.
Sister-Sister: - No clubbing is possible.
Parent-Minor- Child: - No clubbing is possible in this case also.

Charges applicable to avail home loans:-

a) Processing fees: - First of all is the processing fee. This is a charge that is levied
by most the housing finance institution or banks. It is a percentage on the
sanctioned loan amount and is normally paid when the application form is
submitted. Instead of a percentage, some homes loan financial institutions also
charge a particular fee according to the loan amount. The fees paid in excess is
adjusted at the time of submission of application with the charges, when a lower

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amount is sanctioned, which one makes to the financial institutions. The processing
fee is refunded by most of the financial institutions, in case of rejection of the loan
application.

b) Administrative fees: - Administrative fee is a percentage of the approved loan

amount. Housing finance institution/banks or collects this amount for issuing
interest certificates, maintaining customer's records, technical and legal charges,
etc. throughout loans tenure. This charge is paid by the customer on receipt of
offer letter from Housing finance institution/banks. This payment is made before
availing the disbursement amount.

c) Rate of interest: - Rate of interest is applicable throughout the loan amounts

tenure and is charged on the principal monthly reducing manner. Customers are
given an option to choose the rate of interest from either a fixed or a variable rate
by most housing finance institution/banks.

d) Legal Charges: - Legal charges are levied by some housing finance

institution/banks mainly Public Sector Banks which they incur on their panel of
lawyers on getting the property documents vetted.

e) Technical Charges: - To meet their cost on visit to the customers property for
ensuring quality of construction and according to the norms of the respective
approval authority, certain Housing Finance Institutions/Banks levy technical
charges.

f) Stamp Duty and Registration Charges: - The Stamp Duty and Registration
Charge are levied on to customer by housing finance institution/banks, in case of
registered mortgage, which varies from state to state depending on the state laws
where one buys a property.

g) Charges on Personal Guarantee: - Housing finance institution/banks demand for

personal guarantees from the customers. Charges on stamping of personal
guarantee given by the customer are also recovered from the customer.

h) Cheque Bounce Charges: - Housing finance institution/banks levy a nominal

charges on the customer whenever a cheque, through payments is made to housing
finance institution/banks, get dishonored.

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i) Delayed payment charges: - If the customer delays the payment of instalments
beyond the due date, housing finance institution/banks charges for the delayed
payment from the customer.

j) Additional charges:- Most housing finance institution charge a particular

percentage on the delayed payment. When a customer fails to clear the dues within
a stipulated time frame these charges are levied.

k) Incidental charge: - When a representative from housing finance

institution/banks is sent for collection of outstanding dues, incidental charges are
payable from the customer which is normally charged at an even rate per visit.
Most housing finance institution/banks levy these charges.

l) Prepayment Charges: - When a customer makes a part prepayment or a full

repayment of the loan, penalty of prepayment charges is charged by housing
finance institution/banks. This is levied only on round sum payments and not on
the EMIs that is paid by the customer. This charge is not levied on the entire
outstanding principal, but only on the amount prepaid. These charges are levied by
most Housing Finance Institutions and Banks while granting home loan to the
customers.

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 CHAPTER V
COMPANY PROFILE
The importance of financial institutions in the modern economy cannot be
neglected. They occupy a very important place in the field of commerce and
industry of any country. They are so important that modern business is certainly
impossible without them and number country can achieve commercial and
industrial progress in the absence of sound financial system.

These financial sectors have different products at different rates. The growing
competition between the financial institutions had made each of them to delight
their customer rather than satisfying them. The emergence of new generation
private financial institutions has made the entire financial sector tougher and much
more competitive. They provide various services to the customer to overcome the
competition. Some of the major players in the sectors are:

1. HDFC Bank
2. SBI Bank.

HDFC Bank

HDFC was amongst the first to receive approval from the Reserve Bank of India
(RBI) to set up a bank in the private sector as part of RBI's liberalization of the
Indian banking industry in 1994.The bank was incorporated in August 1994 as
HDFC Bank Limited, with its registered office in Mumbai. In January 1995 the
new entity commenced operations as a scheduled commercial bank. Almost exactly
five years later, in February 2000, it consolidated its position in the banking
industry when it merged with Times Bank Limited, another new private sector
bank. The merged entity, now harboring greater depth and increased reach, had
become a dynamic new force. It afforded the bank further opportunities to cross
sell its products and services and leverage alternate delivery channels. HDFC Bank
has, today, attained critical mass and is recognized amongst the most professionally
run banks in the country.

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Product

The Group operates through three segments: Retail Banking, Wholesale Banking
and Treasury Services. The retail segment serves customers through a branch
network and other delivery channels. It raises deposits from customers and
advances loans and provides advisory services. The wholesale operation provides
loans and transaction services to corporate and institutional customers while the
treasury service undertakes trading operations on proprietary accounts, foreign
exchange operations and derivatives trading. HDFC Bank also provides clearing
and cash settlement services to seven major stock exchanges in India, including the
National Stock Exchange and the Bombay Stock Exchange.

In addition, it interacts with Indian mutual funds and more than 20 foreign and 900
co-operative banks. Direct banking channel transactions are available through its
automated teller machines (ATMs), Phone Banking, Net Banking and Mobile
Banking. Other customer-friendly initiatives include Bill Pay, Insta Alert, Net Safe,
National Electronic Fund Transfer, Visa Money Transfer, Online Payment of Taxes
and Excise Duties and Advisory and Merchant Services.

Recent Developments With development on several fronts 2007/08 has been an

industrious year for HDFC Bank. The launch of the domestic-use NRO Debit Card
will allow NRO customers to make purchases at merchant locations in India and
will also enable withdrawal of cash in local currency at ATMs. In addition, the
bank is facilitating educational loans for students pursuing higher studies in India
and abroad. The Business Debit Card is another innovation extending the
partnership between HDFC Bank and corporate India. ngpay is a full service
mobile commerce suite offering on-the-move shopping to a consumer through a
mobile phone. The facility offers movie rail- and air- ticketing as well as gifting in
association with channel partners. The banks mPay scheme converts a mobile
phone into a credit card. Launched in association with Reliance Communications,
this is India's first virtual credit card linked to a cell phone.

Customers can make payment in a simple, secure and real-time environment

without having to disclose the credit card details to the merchant. mChek is the

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newest in a series of mobile-based initiatives launched by HDFC Bank. This
facility allows person-to-person transfer of funds using the Virtual Debit Card on
mobile phones and enables remote merchant payments by the Virtual Debit/Credit
cardholder without visiting the merchant establishment. HDFC Bank has also made
possible several paperless initiatives. These include Net banking registrations
through the ATM, Phone Banking or through the mobile. The bank also launched
interbank funds transfer using the National Electronic Fund Transfer (NEFT) or the
Real Time Gross Settlement (RTGS) facilities. Customers can also regenerate their
Net Banking password using the HDFC Bank Debit Card. Another development at
HDFC Bank has been the launch of Unnati Savings Account. The facility, designed
especially for rural markets empowers customers to deposit and withdraw cash
across the counter at remote locations where HDFC Bank does not have a branch
or an ATM. HDFC Banks constant endeavor is to create products to cater to the
financial needs of each member in the household.

The launch of HDFC Bank Senior Citizens Account is another step in this
direction. This power packed savings account offers senior citizens Accidental
Hospitalization Cover, amongst other exclusive benefits. The launch of the HDFC
Bank Savings Max Account was designed to offer customers a simplified and
superlative banking experience. This account offers features like free unlimited
transactions at any banks ATM, free Gold Debit Card, benefit of automatic
conversion of the customer's idle savings into high earning fixed deposits and other
consumer-friendly features. But the most recent and significant development has
been the proposed merger of Centurion Bank of Punjab with HDFC Bank. A
landmark merger in the banking industry when completed, the merger of Centurion
Bank of Punjab announced in early 2008, will create a nationwide network of 1148
branches (the largest amongst private sector banks), a strong deposit base of about
Rs. 120,000 crore (US$ 30 billion) and net advances of Rs. 85,000 crore (US$
21.25 billion). The balance sheet size of the combined entity would be over Rs.
150,000 crore (US$ 37.50 billion) (Data accurate when the merger was announced)
Promotion Over the years communication in the banking industry has created a
series of me-too brands.

HDFC Bank has broken free of this blur by working outward from its stated
position of We understand your world. Everything that the bank does evidences
this fact. Understanding the consumer is one of them. HDFC Bank expends

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considerable time in micro-segmenting data. This helps it to create products and
customize offers to meet the needs of these audiences. It also promotes the cross-
selling process even as the sharper focus helps improve the quality of service, build
brand loyalty, increase the banks share-of-wallet, reduce acquisition cost and
enhance customer satisfaction levels.

While mass media campaigns play a role in creating awareness about HDFC Bank,
significant contribution to this endeavor is also made by below-the-line promotions
and direct marketing campaigns. Brand Values In the banking industry HDFC
Bank has positioned itself as an institution that can be trusted by all constituents. It
is seen as a transparent, ethical organization offering a comprehensive range of
products under one roof and as a one-stop financial supermarket with quality
service as its calling card.

HDFC Bank:

Home loan:

A new home brings with it new hopes, joys and emotions. At HDFC, we have
shared new hopes, joys and emotions with over 26 Lakh customers. Every
customer has a specific and unique concern. Having earned an experience of 27
years in home loans, our home loan product is customized to provide the customer
solutions for the customers unique concern.

Features:

Maximum loan 85 % of the cost of the property (including the cost of the
land) and based on the repayment capacity of the customer.

Maximum Term 20 years subject to the customers retirement age.

Applicant and Co- Applicant to the loan 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 number be co-owners.

Adjustable Rate Home Loan under Adjustable Rate is linked to HDFC's Retail
Prime Lending Rate (RPLR). The rate on the customers loan will be revised every
three months from the date of first disbursement, if there is a change in RPLR, the
interest rate on the customers loan may change. However, the EMI on the home

~ 25 ~
loan disbursed will not change*. If the interest rate increases, the interest
component in an EMI will increase and the principal component will reduce
resulting in an extension of term of the loan, and vice versa when the interest rate
decreases.

Fixed Rate without money market conditions- Rate of interest will not
change. With money market conditions- Rate of interest will not change due
to money market conditions for two years from the date of first disbursement
of the loan.

Purchase of:-

O Flat, row house, bungalow from developers

O Existing freehold properties

O Properties in an existing or proposed co-operative housing society or apartment

owner's association

O First Power of Attorney purchases in Delhi for DDA flats allotted before 1992.

Self Construction

Features

Purpose

O External repairs

O Tiling and flooring

O Internal and external painting

O Plumbing and electrical work

O Waterproofing and roofing

O Grills and aluminum windows

O Waterproofing on terrace

O Construction of underground/overhead water tank

~ 26 ~
O Paving of compound wall (with stone/tile/etc.)

O Existing Customer 100percentage of the cost of improvement

O New Customer 5percentage of the cost of improvement

Adjustable Rate Home Loan

Loan under Adjustable Rate is linked to HDFC's Retail Prime Lending Rate
(RPLR). The rate on the customers loan will be revised every three months from
the date of first disbursement, if there is a change in RPLR, the interest rate on the
customers loan may change. However, the EMI on the home loan disbursed will
not change*. If the interest rate the interest component in an EMI will increase and
the principal component will reduce resulting in an extension of term of the loan,
and vice versa when the interest rate decreases.

Fixed Rate

With money market conditions- Rate of interest will not change due to money
market conditions for two years from the date of first disbursement of the loan*.

STATE BANK OF INDIA

Introduction

State Bank of India (SBI) is India's largest commercial bank. SBI has a vast
domestic network of over 9000 branches (approximately 14% of all bank branches)
and commands one-fifth of deposits and loans of all scheduled commercial banks
in India. The State Bank Group includes a network of eight banking subsidiaries
and several non-banking subsidiaries offering merchant banking services, fund
management, factoring services, primary dealership in government securities,
credit cards and insurance. The eight banking subsidiaries are: State Bank of
Bikaner and Jaipur (SBBJ),State Bank of Hyderabad (SBH).State Bank of India
(SBI),State Bank of 13 Indore (SBIR),State Bank of Mysore (SBM),State Bank of
Patiala (SBP),State Bank of Saurashtra (SBS) and State Bank of Travancore (SBT).
Today, State Bank of India (SBI) has spread its arms around the world and has a

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network of branches spanning all time zones. SBI's International Banking Group
delivers the full range of cross-border finance solutions through its four wings - the
Domestic division, the Foreign Offices division, the Foreign Department and the
International Services division.

Profile

The SBIs powerful corporate banking formation deploys multiple channels to

deliver integrated solutions for all financial challenges faced by the corporate
universe. The Corporate Banking Group and the National Banking Group are the
primary delivery channels for corporate banking products.

The Corporate Banking Group consists of dedicated Strategic Business Units that
cater exclusively to specific client groups or specialize in particular product
clusters. Foremost among these a specialized group is the Corporate Accounts
Group (CAG), focusing on the prime corporate and institutional clients of the
countrys biggest business centers. The others are the Project Finance unit and the
Leasing unit. The National Banking Group also delivers the entire spectrum of
corporate banking products to other corporate clients, on a nationwide platform.
The bank is also looking at opportunities to grow in size in India as well as
internationally. It presently has 82 foreign offices in 32 countries across the globe.
It has also 7 Subsidiaries in India SBI Capital Markets, SBICAP Securities, SBI
DFHI, SBI Factors, SBI Life and SBI Cards - forming a formidable group in the
Indian Banking scenario. It is in the process of raising capital for its growth and
also consolidating its various holdings. Throughout all this change, the Bank is also
attempting to change old mindsets, attitudes and take all employees together on
this exciting road to Transformation. In a recently concluded mass internal
communication programme termed Parivartan the Bank rolled out over 3300 two
day workshops across the country and covered over 130,000 employees in a period
of 100 days using about 400 Trainers, to drive home the message of Change and
inclusiveness. The workshops fired the imagination of the employees with some
other banks in India as well as other Public Sector Organizations seeking to
emulate the programme.

History

~ 28 ~
The origins of State Bank of India date back to 1806 when the Bank of Calcutta
(later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and
two other Presidency banks (Bank of Madras and Bank of Bombay) were
amalgamated to form the Imperial Bank of India. In 1955, the controlling interest
in the Imperial Bank of India was acquired by the Reserve Bank of India and the
State Bank of India (SBI) came into existence by an act of Parliament as successor
to the Imperial Bank of India.

Today, State Bank of India (SBI) has spread its arms around the world and has a
network of branches spanning all time zones. SBI's International Banking Group
delivers the full range of cross-border finance solutions through its four wings - the
Domestic division, the Foreign Offices division, the Foreign Department and the
International Services division.

SBI Recent Achievements and Milestones:

Awards:

State Bank of India ranked 155 in Forbes list of Global 2000 firms in 2014

Business Standard has awarded the Banker of the Year Award to Shri
O.P.Bhatt.

201314
Innovation in Customer Data Management (DWP), Financial Inclusion (IT
RB), Electronic Payment (INB, MB &W, ATM, PSG) and CRM&BI (DWP)
Best IT adoption, BEST IT Team, CSR and Corporate Excellence AWARD
for change management for managing high scale IT projects. Asias Best
CSR Practices Award2013 Singapore, Asian BFSI Awards2013 Dubai
Indias Most Ethical Companies Award2013, Asian Green Future
Leadership Awards2013.
June 08 Awards & Recognitions CNN IBN Network 18 has selected Shri
O.P.Bhatt as Indian of the Year Business 2007.
Asian Centre for Corporate Governance & Sustainability and Indian
Merchants Chamber has awarded the Transformational Leader Award 2007.

~ 29 ~
 State Bank of India ranked as NO.1 in the 4Ps B & M & ICMR Survey on
India's Best Marketed Banks in August2009.
Shri Om Prakash Bhatt declared as one of the '25 Most Valuable Indians' By
The Week Magazine For 2009.
State Bank of India has been adjuged The Best Bank 2009 By Business India
in August2009.
It bagged Most Preferred Bank and Most Preferred Brand for Home Loan
at CNBC Awaaz Consumer Awards.
It became the only Indian bank to get listed in the Fortune Global 500 List.
SBI was at the 70th slot in the top 1000 bank survey by Banker Magazine .
It was awarded Golden award for being among the two most trusted banks in
India by Readers Digest.
SBI is ranked 6th in the Economic Times Market Cap List.
SBI ranked as no.1 in the 4Ps B & M & ICMR Survey on India's Best
Marketed Banks (August2009).

SBI has been the proud recipient of the ICRA Online Award - 8 times, CNBC TV
18, Crisil Award 2006 - 4 Awards, The Lipper Award (Year 2005-2006) and most
recently with the CNBC TV - 18 Crisil Mutual Fund of the Year Award 2007 and 5
Awards for our schemes.

Main SBI Home Loan Schemes

SBI Realty : Purchase of plot of land

SBI Optima : Loan to existing home loan borrowers

SBI Green Home Loan : For homes that fight against the adverse climate
change, SBI offers 0.25% concession in interest rate and waiver of
processing fees

SBI Flexi : Combination of floating and fixed interest rate, in a pre

determined ratio

NRI Home Loans : Loans for NRIs and PIOs

SBI Freedom : Pledging other financial security than mortgaging the house

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 SBI Max Gain : Operate your home loan account like your SB or Current
Account

Product Range Of Company/Industry:

The products and services provided by the SBI are in various fields, such as:

Banking services

NRI services

International banking

Corporate banking

Agricultural banking

International banking

SBI Housing Loan

Features

SBI Home Loan provides no cap on maximum loan amount for the
purchase/construction of house/flat.

There is an option to club the income of the applicant's spouse and children
to compute the eligible loan amount.

The bank provides free personal accident insurance cover.

A complimentary international ATM cum Debit card is also provided by

SBI.

On the spot "in principle" approval is a special provision for the applicant.

If all the required documents are submitted by the applicant, SBI Home
Loan is sanctioned within 6 days of the date of submission.

The applicant can also consider SBI's Home Loan as a Term Loan or as an
Overdraft facility, in case he/she wants to save on interest and maximize
gains.

~ 31 ~
 SBI Home Loan also provides free personal accident insurance cover up to
Rs 40 Lakhs.

Repayment is permitted up to 70 years of age, which is an added advantage

of SBI Home Loan.

SCHEMES PROVIDED BY SBI

The Most Preferred Home Loan provider SBI Bank offers a Home Loan with
Attractive Interest Rates with Latest Schemes and Benefits. SBI also provides a
Housing loan with different schemes. Schemes Are:-

1. SBI Easy Home Loan

2. SBI Advantage Home Loan
3. SBI Housing Finance Scheme
4. SBI Happy Home Loans
5. SBI Life Style Loan
6. SBI Green Home Loan
7. SBI Home Plus
8. SBI Home Line
9. SBI My Home Campaign

Products

'SBI-Flexi' Home Loans are designed to enable borrowers to hedge their Home
Loan against unfavorable movement in interest rates and gives the customers a one
time irrevocable option to choose one of the three customized combinations of
fixed and floating interest rates.

'SBI-Freedom' Home Loans are customized for high net worth individuals and
offer benefits such as 100 per cent finance of the project and no mortgage of the
property, provided the individual could show liquid securities such as LIC policies
or NSCs.

Eligibility

The minimum age of the applicant is 18 years, on the date of the sanction of the
loan. The maximum age limit for a Home Loan applicant is 70 years. It is the
maximum age limit, within which the loan should be fully repaid. The applicant
~ 32 ~
should consist of sufficient, regular and continuous source of income for repaying
the loan.

Documents

Completed Application Form with one Passport Size Photograph

Identity Proof - the applicant can make use of his/her PAN Card/Voter ID/
Passport/Driving License, for the purpose.

Residence Proof - the applicant can make use of his/her Recent Telephone Bill/
Electricity Bill/Property tax receipt/Passport/Voters ID

Proof of business address in respect of businesspersons/ industrialists

Sale Deed, Agreement of Sale, Letter of Allotment, Non Encumbrance Certificate,

Land/Building Tax paid receipt etc.

Copy of Approved Plan and approval from the Local Body

Statement of Bank Account/ Pass Book for last 6 months

Interest rate (SBAR is currently 11.75%)

Year 1 - 8% fixed
Year 2 & 3 - 9% fixed
Year 4 onwards - For loans up to 50 lakhs, 9.25% floating.

For loan amount over 50 lakhs, 9.75% floating.

Other Products from SBI (State bank of India)

1) SBI Personal Loan

2) SBI Card

3) SBI Home Loan

4) SBI Housing Loan

~ 33 ~
Eligibility Criteria & Documentation required for SBI Home Loan

Salaried Self employed

Age 21years to 60years 21years to 70years

Income Rs.1,20,000 (p.a.) Rs.2,00,000 (p.a.)

Loan Amount
5,00,000 - 1,00,00000 5,00,000 - 2,00,00000
Offered

Tenure 5years-20years 5years-20years

Current
2years 3years
Experience

1) Application form with

1) Application form with
photograph
photograph
2) Identity & residence proof
2) Identity & residence
3) Education qualifications
proof
certificate & proof of business
3) Last 3 months salary
Documentation existence
slip
4) Business profile,
4) Form 16
5) Last 3 years profit/loss & balance
5) Last 6 months bank
sheet
salaried credit statements
6) Last 6 months bank statements
6) Processing fee cheque
7) Processing fee cheque

Loan tenure

You can repay the loan over a maximum period of 25 years under both FRHL and
ARHL in SBI. Repayment will not ordinarily extend beyond your age of retirement
(if you are employed) or on your reaching 65 years of age, whichever is earlier.

~ 34 ~
Processing fee
FEES RUPEES
Upto 5 lakh Rs. 1000
5lakh-10lakh Rs. 2000
10lakh-20lakh Rs. 5000
20lakh-50lakh Rs. 7000
50lakh-1crore Rs.8000
1crore-5crore Rs.10, 000
Above 5 crore Rs.20, 000

Prepayment charges

If paid from own source- Nil,

In other cases- 2% on principal amount prepaid

LATE PAYMENT CHARGES

If paid from own source- Nil,

In other cases- 2% on principal amount prepaid

~ 35 ~
COMPARITIVE STATEMENT OF HOME LOAN

PARTICULARS HDFC SBI

ROI(FIXED) 14% Year 1 - 8%
Year 2 & 3 - 9%

ROI(FLOATING) Up to 30lakh-8.75% Year 4 onwards -

30 lakh-50lakh-9%
Above50lakh-9.25% up to 50 lakh-
9.25%

over 50 lakhs-
9.75%
PROCESSING FEE 0.5% 0.5%
PENALTY 2% 2%
TENURE 25 years 25 years
MINIMUM AGE 21 25
MAXIMUM AGE 60 55

FINDINGS & SUGGESTIONS

Among the various loans offered the researcher found that most of the customer
availed home loan whereas the takers for Mortgages and Housing loan are
~ 36 ~
relatively less i.e. 65 percentages have availed home loan. 4 percentages are of
personal loan and 2 percentages are of mortgages respectively. Hence it is
recommended for the company to aggressively advertise these loan facilities in
both newspapers and television channels so that many people may be aware of the
same.

From the market research study it has been observed that 90% of the
respondents are aware of home loan.

62% of the respondents are aware of home loan through agent.

It was founded that 63% of the respondents rate the service of home loan as very
good.

80% of the Existing Customers are Happy with the Benefits of home loan.

SUGGESTIONS

The home loan company should concentrate heavily on attractive

advertisements and various Promotional Strategies like, giving Pamphlets,
put the hoardings and banners at important locations

People should be educated by giving seminar in Business Conferences,

installing stalls in Business Exhibitions. And Company should conduct
seminars in Educational Institutions to provide information about company
and its products.

Company has to create a sense of security among the customers. Because

most of the people fear about security.

CONCLUSION

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The results and findings of this research study exemplifies the fact that an in- depth
market research has been conducted and all research work has been conducted and
all the objectives set for the research work has been fully accomplished and the
analysis is also performed to the maximum extent possible.

An in-depth study has been made on the aspect that influences the banks to be the
best private financier. Customer satisfaction is the core element in the business. For
customer satisfaction the services have to be an edge over the other banks, which
banks have achieved. Banks is aptly targeted potential customers among the
various levels of people in India. The banks overall performance and services
seems to be highly satisfied.

From the analysis it is found that some customers have faced some procedural
problem, for which the researcher has given some suggestions and
recommendations.

Banks has got goodwill and reputation among the public and this can be used for
promoting it services. If new promotional activity and services introduced, it will
help very much the organization to increase the business.

BIBLIOGRAPHY
Book references:

~ 38 ~
 I. I S.P GUPTA, Statistical Methods, New Delhi, Sultan Chand & Sons
Publications,2002

II. KOTLER PHILIP, Marketing Management, New Delhi, Prentice-Hall of

India Pvt.Ltd.,1971

III. C.R. Kothari, Research Methodology, New Delhi, New Age Publishers,1995

Journal references

The IUP Journal of Bank Management, Aug 16

ICFAI Journal of Bank Management, July 16

E-references

I. www.sbi.co.in

II. www.hdfc/india.com

III. www.google.co.in

IV. www.indiahousing.com

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