Summer Internship Report-Week 1
Submitted by
Goutham M
CB.BU.P2MBA15039
Amrita
school of business
Coimbatore
About the Company:
Housing Development Finance Corporation (HDFC) Ltd. has been a pioneer in the
field of Housing Loans and Developmental loans. HDFC Ltd. primarily deals with home
loans and property loans to get their dream homes. HDFC has fulfilled more than 5.1 million
home loans since 1977 and has provided with a gross loan of over Rs. 2.6 trillion and over
Rs. 1.7 million in deposits. With its well-connected network of 392 interconnected offices off
which 113 offices are for HDFC Sales and a national wide network of 254 Branches and 3
primary offices in London, Dubai and Singapore it provides loans to people of Indian Origins
and NRIs. Trust, Integrity, Transparency and Professional Services are the core values that
has helped this company gained the trust of people for years and years to come. The Current
Chairman is Mr. Deepak S. Parekh and Vice Chairman & CEO is Mr. Keki M. Mistry along
with an efficient board of directors have help up the company for the past decade and have set
value creation to stock holders as their primary focus.
I went there to begin my Internship process, first of all to get introduced with the Branch
Manager of the main branch of HDFC Home loan Ajay Varma Coimbatore. After I was
introduced with the Branch Manager, I was allotted with my mentor Karthik Velusamy
Head of Credit Analysis. I was asked to be placed in the reception place to observe the
process of how the office works. I spent one for day in the reception area and learned how to
get loan and how to satisfy customer needs. There I can able to feel the customer mind-set,
when he enters the office to get the loan. Every customer will be start his process right from
the reception area from here hell be directed towards all other departments. In the
receptionist place what normally happens is, to know about the various schemes, to know
about the overdue amount that needed to be paid, to ask for the misplaced check sheets and
various other work related for the process of loan to get or to pay back amount. And also I
was introduced with all the departments that are available in the branch. First and foremost,
reception was there for the initiation of process. Account department, the collections and
maintaining details of the amount in the process. Recovery department, the non-payable
amounts to be recovered. Legal department verifies all the legal documents for the security
purpose. Credit Analysis department, analyses the risk for the repayment of loan.
Marketing department promotes the various schemes of House loan schemes. Deposit
department to deposit amount in the account. There are various types of loans available in
the HDFC housing loan for resident Indian and non- resident Indian.
The various types of loans that is available:
Home Purchase Loan: Loans for Purchase of Homes
Home Improvement Loan: Loans for repair and renovation works
Home Construction Loans: Loans for construction of a new house
Home Extension Loans: Loans for expanding the already existing house
Home Conversion Loan: Loans for financing new home when the old one is already
finance by a housing loan and the new loan extra funds required is added to the
present existing loan.
Home Loan Procedure at HDFC:
i.
ii.
iii.
iv.
The loan procedure starts off with submission of all required documents by the
customer to the concerned personnel.
Next comes verification and valuation where by the credibility of the customer to get
the loan is checked and the risk is estimated. If the risk falls under the safety limits the
loan is sanctioned and the loan amount is also determined by the credibility of the
customer.
If further loan is needed, then they provide supplementary loans on basis of their
comprehensive home loan schemes.
The process also involves approval from Regional office for larger loans.
In this week, I was asked to take out Memorandum of Deposit deeds with document
verification for the month of February, 2016. For this process of document verification, we
learnt that HDFC maintains a completely organized mechanism to store their documents and
all documents are numbered to help with maintaining the records and all the files that come in
and out of the storage locker are recorded through a book keeping system to manage a record
of who has access to these files. From this process I learnt all the different documents
required for getting a house loan and also the process of filling these documents and storing
these files in the given structure.
