Folks, Do you know how this bank functions and makes profit? Read on! It would be a very interesting case study for someone in IIM.
HDFC bank decides to use the emotional quotient of all average Indians called "Middle Class". They run a fully-profitable HDFC Home loan department. Their job? Start collecting applications from every Ram-Rahee-Robert in India and use superb pre-sales and sales skills. A sales guy accompanied by a sales-girl(?!*) will come to your door-step providing a worldclass banking expereince(You will start loving this bank for this compared to your experience speaking to the "Uncle" and "Aunts" at other Nationalized banks). You will be sold a CREDIT CARD, INSURANCE FOR HOME etc., even before you got your loan sanctioned. I got my platinum HDFC Credit card in 2 weeks flat:)
Now along with application you will be asked to pay 11, 000 towards processing fee. They will show prompt focus in realinzing this cheuqe. THEN.GO TO HELL! Who cares! You will be asked for ZILLIONS of Xerox copies of your documents, shirts, pants, your pet, your neighbor etc(Just kidding!). After your submission of these documents, a smart guy from LEGAL dept will respond to you with MORE and MORE queries asking you to travel in TIME MACHINE to proove that all documents are fine! In the meanwhile u would be getting an APPROVAL letter! Don’t go for the party straight! It’s just a GIMMICK!
I was told that I will get my loan in 10 days flat. Now it’s 3 months and these dumbsters are yet to assess the legal docs.
Just calculate the number of applications each brach would get in a day around country? For assumption I put it at 20, 000 applications with Rs. 11, 000?
Do your math: 20, 000 x 11, 000= 220000000(22 CRORES!) PER DAY
22 CRORES X 20 DAYS/MONTH= 440 CRORES! WOW!
Folks, Let’s start a BANK for ourselves and start collecting PROCESSING FEE in advance and DUPE all our fellow Indias!
AWAKE. THINK! ANALYZE. Please use SBI, CANARA BANK, CORPORATION BANK, OBC etc etc.
NEVER GO TO HDFC, ICICI, CITI etc.
Let me know your thoughts folks.