Unique services for Non Resident Indians through RAKBANK - HDFC Bank strategic alliance

HDFC BANK has a network of over 500 branches and over 1200 ATMs across 220 cities in India, making it convenient for customers to operate their accounts from anywhere, 24 hours a day and 365 days a year. HDFC BANK was promoted in 1995 by HDFC, India's premier Housing Finance Company. Since then, HDFC BANK has grown manifold to emerge as one of India's leading private sector Banks.

RAKBANK also announced the launch of RAKnri - a groundbreaking new service for expatriate Indians in the UAE to provide them a comprehensive bouquet of onshore and offshore banking products, as well as global wealth management solutions encompassing investments, insurance and real estate products. Now expatriate Indians in UAE will have a one-stop shop to take care of all their banking needs in the UAE and back home in India through HDFC BANK.

"We are pleased to announce our partnership with RAKBANK a financial institution known for its professionalism and expertise in the UAE market. This partnership will benefit the large Indian population based in the UAE with ties back home in India, as they will now be able to access local banking in UAE and India in a seamless manner.", said Aditya Puri, Managing Director, HDFC BANK.

Conveniently located at the Mezzanine Floor in Sultan Business Center, RAKnri offers its customers a culturally familiar environment with knowledgeable and experienced Indian Customer Service Officers who speak the customers' languages and who will be on hand to deal with their specific banking requirements both in UAE and in India. Two more such centers are planned this year to increase the distribution points for customer convenience.

RAKnri customers can choose from the wide range of RAKBANK's competitive asset and liability products that include savings and current accounts, fixed deposits, personal and auto loans, credit cards and bank assurance as well as mortgages and investment products. And thanks to the RAKBANK - HDFC BANK alliance, RAKnri customers can also take advantage of India-based retail banking products such as Banking, Investments, Mortgages and Capital Market Services.

HDFC BANK offers a wide range of Products and Services specially designed to cater to the needs of NRIs. These include INR & Foreign Currency Deposit accounts, Private Banking, Investment Solutions, Mutual Funds and Insurance options, Portfolio Management Services, Online Share Trading in the Indian Stock Markets, Home Loans, Credit Cards, Loans against Deposits and Loans against Securities.

"RAKnri is part of our commitment to provide the Indian expatriate community in the UAE with specialized services for their distinctive needs in the UAE and in India, all in an environment that makes them feel at home," said Murray Sims Head of Personal Banking. "New services will constantly be added to meet the banking needs of the Indian expatriate community and specialized India Service Desks have been set up at select RAKBANK branches", he further added.

"The launch of RAKnri is in line with our strategy to strengthen our position as a leading financial institution providing compelling value and convenience to all customers. We are continually searching for new products and services to make banking simply better. RAKnri is one more innovative way of achieving this aim", said Murray Sims.