What is the full form of HDFC ?

HDFC Full Form: Housing Development Finance Corporation

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HDFC full form or meaning is Housing Development Finance Corporation.

HDFC stands for Housing Development Finance Corporation which is a leading private sector bank and housing Finance Corporation of India.

HDFC mainly provides housing loans to middle-class people and builders for the residential projects and the main objective of HDFC to develop the residential housing stock by the provision of housing finance in a strategic way that will grow homeownership in India.

The Housing Development Finance Corporation is one of the leaders in the Indian banking sector and finance market and has its headquarter in Mumbai, Maharashtra, India.

HDFC has been the largest private sector lender by assets in India.

HDFC bank full form
HDFC bank full form

HDFC bank has a diversified customer segment all over India as well as globally. One of the prime customer segments of the housing development finance corporation includes large corporates, Individuals, Financial institution among others.

History of HDFC

 The housing development finance corporation was first established in 1977 but it began working as a private sector bank in India in 1994.

HDFC was formed on 17 October 1977 as a public limited company and was promoted by the industrial credit and investment corporation of India.

HDFC presented loan linked deposit scheme in 1980 that described that one has to have a passbook account with HDFC to get the loan benefits.

The housing development finance corporation launched a non-resident certificate deposit scheme in 1981.

After four years HDFC introduced a home saving plan which allowed a person to get a housing loan at 8.5% interest rate in 1985.

HDFC introduced a service named Advanced processing facility (APF) that allow builders to provide financial service to individuals to buy the residence in their projects in 1986.

In 1989 HDFC introduced two types of loan – Home improvement loans (HIL) and home extension loans (HEL) to economically weaker sections.

HDFC became the HDFC bank on 30th August 1994. It was one of the first banks to receive an “in principle” approval from RBI. HDFC Bank was established by Aditya Puri.

In 1999 HDFC launched its website. In 2009-10 HDFC offered systematic saving plans with variable interest rate.

HDFC launched an online real estate portal in 2010-11 as well as a new subsidiary HDFC Education and Development Services Pvt for education loans.

HDFC has nearly 427 interrelated branches as well as three branch offices in London, Dubai and Singapore to provide home loan services.

HDFC subsidiaries

HDFC works in different sectors of banking and finance. These are the main subsidiaries of HDFC –

  • HDFC Bank Ltd
  • HDFC realty ltd
  • HDFC venture capital Ltd
  • HDFC Development Ltd
  • HDFC Holdings Ltd
  • HDFC investment Ltd
  • HDFC Ergo General insurance company Ltd
  • HDFC Trustee Company Ltd
  • LDFC property ventures Ltd
  • HDFC standard life insurance company Ltd

HDFC products and services

The Housing Development Finance Corporation as the leading banking and finance company have launched various product and services such as –

  • Property loans
  • Personal loans
  • Treasury
  • Retail banking
  • Wholesale banking
  • Credit card
  • Lifestyle loans
  • Consumer-sustainable loans
  • Two-wheeler loans
  • Car loans
  • SmartBUY
  • Payzapp


 Who is the founder of HDFC bank?

Hasmukhbhai Parekh was the founder of HDFC bank.

Where is headquarter of HDFC?

Headquarter of Housing Development Finance Corporation is in Mumbai, India.

Is HDFC a foreign bank?

HDFC is treated as a foreign bank because it has 73% of foreign holdings. but was established by an Indian.

 What is FD in HDFC bank?

 The Housing Development Finance Corporation Bank offers Fixed Deposit or FD scheme in flexible tenures ranging from 7 to 10 years.

HDFC bank also offers loans against these FDs in the form of an overdraft. Besides this, the person can also get up to 90% of their FD amount.

 Is HDFC a government bank?

 No, the Housing Development Finance Corporation is not a government or nationalised bank of India. HDFC is properly a private sector bank and financial company. The HDFC bank was incorporated as HDFC Bank Ltd on 30TH August 1994. Later on, in 1995 it commenced operations as a Scheduled Commercial Bank.

Interesting facts about HDFC Bank

  • When HDFC Bank became public in 1995, its shares were priced at ₹ 40 which is above 1200 today.
  • HDFC Bank’s total assets exceeded US $ 1 trillion by June 2020, and thus it is India’s largest private bank.
  • HDFC Bank has more than 5000 branches in India itself, and today you will be able to easily take advantage of HDFC’s banking services at its branches in almost all big and small places.

Some other famous full forms of HDFC

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One thought on “HDFC”

  1. Hi,

    Very Important information has this website.
    Thanks for creating such amazing website for the students.


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