NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS

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.


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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.


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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


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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


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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=wUpFUoXWAYnPrQfCn


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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

Documents

NIKHIL YESAMBARE'S "COMPARISON OF HOME LOAN SCHEMES" SYNOPSIS