I am banking ever since I was a child, I used to love to accompany my mom or my grandparents whenever they went to this place, where I thought they gave away money for free ..
That was before I realised a concept called RED TAPE that existed with the PSU banks of those days .. I used to dream the day I could open an account with one of those MNC banks ..
But .. post liberalisation in India and the subsequent amendment to the Banking Regulation Act. The scene was set for entry of Indian corporates into the field of Banking
One of the first off the blocks was HDFC and ICICI, and has HDFC grown by leaps and bounds
A systemic thought on how quality banking can be provided at a value can be gleaned from this experience.
I am an account holder, credit\debit card holder, shareholder, FD holder and a Loan portfolio debtor of this bank and it has been a pleasurable experience all the way.
This emphasis on quality of service comes from its parent HDFC, which H T Parekh founded in the 70’s . It created a revolution in the khousing finance industry in the 80’s. The same march has been continued by HDFC Bank.
HDFC has a seamless technology mode, you can bank off the net, atm or your mobile phone. And till date barring the occasional ATM outages, there havent been any major system worries.
Now to the cons, the liability products of HDFC Bank need further tweaking, I feel they areent flexible enough compared to its Competitor.
Also, in some branches the staff are unruly, nothing compared to ICICI bank , where the staff seem to own the bank itself.
Sometimes I feel success has gone to HDFC’s head but considering the further relaxation in the investment limits, there is going to be a flurry of new entrants into this field shortly. (read my review on Centurion Bank)
Overall I can safely rate it the best private sector bank in India ..