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7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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A SYNOPSIS
ON
Comparison of HOME LOAN SCHEME
OF ICICI & HDFC in chandrapur area.
A synopsis to be submitted to R.T.M. Nagpur University in partial
Fulfillment for course in BACHELOR OF BUSINESS
ADMINISTRATION
(BBA) Specialization in FINANCE
Submitted by Project Guide
NIKHIL.G YESAMBARE
Rajmal Puglia Institute of Management & Technology,
Datala square, MIDC road, Chandrapur
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ACKNOWLEDGEMENT
I take this opportunity to extend my sincere thanks to RajmalPuglia Institute of Management Studies (RIMS), Chandrapur for
offering a unique platform to learn exposure and gain knowledge in
the field ofFINANCE
I want to convey my sincere thanks to our respected Principal
sir, who has been guiding post for BBA project. He is there to help
me out whenever and wherever I needed. He has inspired me by his
discussions and showed me the right course to pursue. Special
thanks to the faculties of my beloved institute RIMS who are always
available to us for extending their cooperation.
My sincere thanks are due to my guide____________________ and
my co-guide _____________________
Last but not the least I would like to express my profound gratitude
to each and everyone who contributed in their own ways in
successful completion of this project synopsis.
NIKHIL G. YESAMBARE
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Chapter 1
INTRODUCTION
The roof over ones head and ground beneath ones feet count as the
bare necessities of life. Theres nothing quite like owing a home,
however humble to give that warm and glowing feeling. But when one
buys a home, one has much more than a feel good purchase in mind
Its also a crucial investment decision, perhaps the biggest spending
decision of ones life. There are ample opportunities today for young
salaried investors to plan their moves early
and buy a house at right time- and at right price. In the process, not
only do they fulfill that cherished dream of owning a house, but also
put themselves on the path to acquiring property that would meet the
needs and aspirations of their growing family, even as it leads to
wealth creation. Every individual aspires to own a home. But many
either spend a lifetime saving to purchase a house or exhaust money
on monthly house rents.
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Chapter 2
INTRODUCTION TO TOPICS
Home loans, also known as mortgages, use the borrower's home for
collateral. This home can be a single-family house up to a four-unit
property, as well as a condominium or cooperative unit. Lenders fund
home loans, but both the lenders themselves and brokers who act on
behalf of the lenders originate, or process, them.Home loans came into widespread use in the United States in the
boom years of the late 1800s. Since the average person usually
cannot afford to pay cash for something as expensive as a home,
lenders began offering loans for the difference between the purchase
price of a home and the cash down payment supplied by the buyer.
These loans were interest-only loans of between five and 10 years
that were due in full at the end of the loan term. Homeowners would
refinance the loan at the end of each term or save up enough cash to
pay off the loan in the meantime. The Great Depression and its
resulting foreclosures demanded a move to the modern amortized
mortgage, which configures payments into both principal and interest
portions. These 15- to 30-year loans pay off the home by the end of
the loan term
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Chapter 3
INTRODUCTION TO ORGANISATIONS
When choosing a home loan, it's important to work out what you want
from your loan and how much it will cost you.
When you apply for a low-documentation (low-doc) loan, you won't
need to give your credit provider or broker as many documents to
prove your income, assets and liabilities as you would with other
loans.These loans are intended for small businesses that do not have
audited accounts. You should not use a low-doc loan if you are on a
regular wage or salary.
Basic renovations and home improvements can be funded through a
standard home loan. If you only require a small amount for your
project, you may be able to redraw additional funds from your current
home loan.
in this project we are going to learn about the different schemes
of home loans in different banks comparatively.
the banks names are following;
[1] I.C.I.C.I (industrial credit and Investment Corporation of India)
[2] H.D.F.C (Housing Development Finance Corporation Limited)
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HDFC (Home Development Finance
Corporation)
The Housing Development Finance Corporation Limited (HDFC) wasamongst the first to receive an "in principle" 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 in the name of "HDFC Bank
Limited", with its registered office in Mumbai, India. HDFC Bank
commenced operations as a Scheduled Commercial Bank in January
1995.
HDFC is India's premier housing finance company and enjoys an
impeccable track record in India as well as in international markets.
Since its inception in 1977, the Corporation has maintained a
consistent and healthy growth in its operations to remain the market
leader in mortgages.
COMPANY PROFILE
HDFC Limited founded in 1997 by Mr.Ravi Maurya and Mr.
Hansmukh bhai Parekh, is an Indian NBFS focusing on home loans.
HDFC operates through almost 450 locations throughout the country
with its corporate head quarters in Mumbai, India. HDFC also has an
international office in Dubai, UAE with service
associates in Kuwait. HDFC is the largest housing company in India
for the last 27 years. HDFC was amongst the first to receive an in
principal approval from RBI to set up a bank in the private sector, as
a part of the RBIs liberalization of the Indian banking industry. It was
incorporated on 30th august 1994 in the name ofHDFC Bank
Limited, with its registration office in Mumbai. HDFC began its
operations as a scheduled commercial bank on 16thJanuary 1995.
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I.C.I.C.I (industrial credit and Investment
Corporation of India)
ICICI Bank is India's largest private sector bank with total assets of
Rs. 5,367.95 billion (US$ 99 billion) at March 31, 2013 and profit after
tax Rs. 83.25 billion (US$ 1,533 million) for the year ended March 31,
2013. The Bank has a network of 3,384 branches and 11,063 ATMs
in India, and has a presence in 19 countries, including India.
ICICI Bank offers a wide range of banking products and financial
services to corporate and retail customers through a variety of
delivery channels and through its specialized subsidiaries in the
areas of investment banking, life and non-life insurance, venture
capital and asset management.
COMPANY PROFILE
Now the chairman of the ICICI is Mr. K.V Kamath but the
ICICI Bank was originally promoted in 1994 by ICICI Limited, an
Indian financial institution, and was its wholly-owned subsidiary.
ICICI's shareholding in ICICI Bank was reduced to 46% through a
public offering of shares in India in fiscal 1998, an equity offering inthe form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's
acquisition of Bank of Madura Limited in an all-stock amalgamation in
fiscal 2001, and secondary market sales by ICICI to institutional
investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at
the initiative of the World Bank, the Government of India and
representatives of Indian industry.
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Chapter 4
SCOPE OF WORKS AND LIMITATIONS
The particular goal behind the comparison of the schemes is to make
it easy for everyone to get a great deal on a loan or an insurance
product. On the basis of comparison, everyone can easily compare
the total costs of the loan offers made to you, and get access to
unbiased customers ratings of financial institutions. I want to make it
easy for everyone to have a lot of options, to take a well-informed
decision when choosing which product to apply for and to do all this
instantly! And best of all, services are completely productive for all the
persons who are connected with the corporate sector and also wo
want to trying for home loan for his dream home.
All the peoples want to choose the best home loan scheme
because everyone wants to save money thats why the comparison of
the home loan schemes is very useful.
From these things we can easily save money and get maximum
profits at corporate sector as well as our common life.
Scope of the comparison is following;
It consumes money Helpful in proper management of money
Social work from awareness to the peoples
These are the main features of comparison between different plans
In the limitations of that subject are following;
Customers perception
Social factors
Economic factors
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Chapter 5
FUTURE WORK
Home loans are provided based on the market value, mainly
estimation given by banks or the registration value of the property.
Home loan is not a one-time decision; do review the market
periodically before availing them. Customers tend to make mistakes
while entering into deals, which may not be beneficial for them, so
better compare all the variables before signing a loan agreement by
different banks. The various parameters that you need to compare on
Home loan are;
Eligibility
Interest rates best suited.
Fixed interest loans or Floating.
Other costs.
Document required.
Penalties.
This concept we can take very effectively and get maximum
opportunity in future just like comparing agencies or financialinstitutions
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Chapter 6
AIMS & OBJECTIVES OF STUDY
Buying your first home can seem intimidating, especially when faced
with many different loan types. Don't worry. Use this list to compare
and narrow down the
Choices to know which is the best
To help its customers get the best interest rates on home loans this
project has consolidated all the information regarding current rate of
interest for all the banks at one place.
Owning a house is a dream for every human being. After the
economic liberalization and competition among retail finance
companies, it's easier to get a home loan now. However, there are
eligibility criteria that have to be met. You can not get any amount of
home loan irrespective of your income. The amount of loan given by
financial institutions depend on lots of factors, including your income,
age, qualifications, work experience, number of dependents,
spouse's income, stability of income and employment, assets,
liabilities, etc.
All loan seekers want as many competing simultaneous quotes as
possible, whereas a bank needs leads/applicants with high levels ofexclusivity. We at by my project have been able to find the sweet spot
that maximizes the value delivered to both the stakeholders involved.
7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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Chapter 7
REVIEW OF LITERATURE
DAVE RAMSEY
Dave Ramsey knows a thing or two about real estate. Having made
and lost a fortune in the housing market by the time he was 30, he
fought his way back to solvency and now tells people exactly how
they can pull themselves out of debt. A personal finance guru to
millions via his radio show, best-selling books and seminars, Ramsey
counsels people daily on improving their lives by changing their
overspending ways. And people listen -- judging by the millions of
dollars of debt that callers to his self-named radio show credit him
with helping them pay off. According to a press release, callers to his
"Debt-free Friday" show eliminated more than $20 million in debt in
2006.
WIKI HOW
Today if you have a bad credit card habit, need to pay for an
education, or finance medical treatment, you may be considering ahome equity loan. Find out when people need to apply for home
equity loan and how to find favorable offer.
7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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Chapter 8
RESEARCH METHODOLOGY
Research in common parlance refers to a search for knowledge. One
can also define research as a scientific and systematic search for
pertinent information on a specific topic.
Research methodology is a way to systematically solve the
research problem. Research methodology just does not deal
research method but also consider the logic behind the method. It
facilitates the researcher with reason for evaluating the research
problem.
PROBLEM STATEMENT
A lot of banks of home loan are available in the market. But theconsumers prefer a particular bank of home loan. In the modern
business world, due to the development of science and technology,
many new banks have been introduced in the market every year
DATA COLLECTION
There are two types of data are used for research purpose i.e.primary data and secondary data and my whole study is based on
the primary and secondary data obtained from published book and
from internet and annual reports of the company
.
A) PRIMARY DATA
1. Interviews
2. Questionnaires
B) SECONDARY DATA:
1) Internet
2) Books
3) Magazines
7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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Chapter 9
HYPOTHESIS
STATEMENT (S) OF HYPOTHESIS
A Hypothesis is an unproven statement or proposition about a factor
or phenomenon that is of
interest to the researcher.
The following hypotheses will be tested in research
BANK Interest
rate
EMI per
month
Eligible
Loan
Amount
10.65% 50524 5010000
10.65% 50830 5040323
STASTISTICAL PROCESSING
Tabulation
Calculate mean, standard deviation and variance
On the basis of that numerical information we can see the schemes
of HDFC banks home loan are very affordable,
means the home loan schemes of the bank have a less amount and
money providing during loan so,
From these research we found the HDFC bank home loan is
better than the ICICI home loan schemes in case of large amount is
required.
Thats why when I want to suggest the home loan to any person I will
definitely suggest the HDFC bank
7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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Chapter 10
BIBLIOGRAPHY
BOOKS
BOOKS AUTHORS
[1].Advantages and
disadvantages of home loan in
joint names
Mr. Raag vamdatt
[2].Bank and banking operations Reserve bank of India
[3].Dictionary of insurance S.R. Singh
REFERENCES
https://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQf
Cn
http://www.deal4loans.com/home-loans-interest-rates.php
http://www.apnapaisa.com/loan/home-
loanindia/comparison.html
http://www.bankbazaar.com/home-loan.html
http://switchme.in/blog/tag/best-saving-comparision-on-home-
loan/
http://mybdasites.com/viewtopic.php?t=3550&p=15184
http://homeloanin.in/home-loan-comparision-mumbai/
http://finance.taaza.com/topic/home-loan-comparision-ppt
https://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttp://www.deal4loans.com/home-loans-interest-rates.phphttp://www.deal4loans.com/home-loans-interest-rates.phphttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.bankbazaar.com/home-loan.htmlhttp://www.bankbazaar.com/home-loan.htmlhttp://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://mybdasites.com/viewtopic.php?t=3550&p=15184http://mybdasites.com/viewtopic.php?t=3550&p=15184http://homeloanin.in/home-loan-comparision-mumbai/http://homeloanin.in/home-loan-comparision-mumbai/http://finance.taaza.com/topic/home-loan-comparision-ppthttp://finance.taaza.com/topic/home-loan-comparision-ppthttp://finance.taaza.com/topic/home-loan-comparision-ppthttp://homeloanin.in/home-loan-comparision-mumbai/http://mybdasites.com/viewtopic.php?t=3550&p=15184http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://switchme.in/blog/tag/best-saving-comparision-on-home-loan/http://www.bankbazaar.com/home-loan.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.apnapaisa.com/loan/home-loanindia/comparison.htmlhttp://www.deal4loans.com/home-loans-interest-rates.phphttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCnhttps://www.google.co.in/?gws_rd=cr&ei=wUpFUoXWAYnPrQfCn7/27/2019 NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS
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Chapter 11
SCHEME OF CHAPTERISATION
Chapter 1 INTRODUCTION
Chapter 2 INTRODUCTION TO TOPICS
Chapter 3 INTRODUCTION TO ORGANISATIONS
Chapter 4 SCOPE OF WORKS AND LIMITATIONS
Chapter 5 FUTURE WORK
Chapter 6 AIMS & OBJECTIVES OF STUDY
Chapter 7 REVIEW OF LITERATURE
Chapter 8 RESEARCH METHODOLOGY
Problem statement
Data collection
(1) primary data
(2) secondary data
Chapter 9 HYPOTHESIS
Statement of hypothesis
Statistical processing
Chapter 10 BIBLIOGRAPHY
Chapter 11 SCHEME OF CHAPTERISATION
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Approval of Project Synopsis
Name of Student : Nikhil gautam yesambare
Roll Number :
Department & College : Rajmal Puglia Institute of
Management and technology
Title of Project : A PROJECT REPORT ON
Comparison of home loan schemes of
ICICI and HDFC bank in chandrapur
area
Subject Area : finance
Project Guide :
Student Project Guide
NIKHIL G. YESAMBARE
Principal
Dr. G. F. Surya
Renaissance Institute of Management
Studies, Chandrapur