HDFC Banks new product offerings

Chennai: HDFC Bank has decided to go on a relationship pricing mode with its existing clients who buy any of its new product offerings. This will essentially mean that an existing customer who buys any new product will be given a favourable treatment. The objective is two-fold. One, to ensure that once a customer comes to the bank he remains so for ever. Two, to help a client get a whole gamut of services under one roof at competitive terms. The relationship pricing proposal, it is felt, could go a long way in enticing even new clients to the banks fold. Addressing a press conference here, HDFC Bank managing director Aditya Puri said since the bank has come out with a host of products, relationship pricing will improve the buying efficiency besides offering purchase protection.

Puri also said the bank will set up a representative office in the UAE in a months time. This will help provide better services to NRI clients there. Depending on the UAE experience, similar offices will be set up in other places to cater to NRIs needs.

The bank, he said, had recently got into commercial vehicle financing. Initially, HDFC Bank will focus on 30 cities where it has presence. The margins in commercial vehicle financing are much better than in car financing, he added. "But the rates may could be differential, depending on an assortment of factors."