HDFC
HDFC Bank
Is HDFC Halal?
Indian bank — conventional interest-based banking is the core activity and the financial screens fail.
What You Should Know
HDFC Bank's FY 2025-26 consolidated statements report interest-bearing funding/assets of 75.14%, liquidity/assets of 32.44%, advances plus cash/assets of 68.51%, and net interest income of 32.92% of total income. Conventional deposits, mortgages, lending, cards and treasury independently fail the site's qualitative framework.
⚠️ Concerns
- •Interest-bearing deposits and conventional lending are core operations
- •Funding/assets is 75.14%, above examined limits
- •Net interest income is 32.92% of total income
- •Cards, treasury, derivatives and investment banking require contract review
Current quantitative Sharia screen
Based on Integrated Annual Report figures for the period ended 2026-03-31; calculated 2026-07-14.
3,688,122.84 / 4,908,040.84
1,592,142.34 / 4,908,040.84
3,362,709.28 / 4,908,040.84
163,123.92 / 495,462.81
- Financial
- Fails
- Overall
- Fails
Interest-bearing funding is 75.14% of assets, liquidity is 32.44%, advances plus cash are 68.51% and net interest income is 32.92%; conventional banking independently fails the activity screen.
- Financial
- Fails
- Overall
- Fails
Interest-bearing funding and advances plus cash exceed the examined total-assets limits; conventional banking also independently fails.
- Financial
- Fails
- Overall
- Fails
Funding, advances plus cash and net interest income exceed the examined limits; this is a calculation against SAC ratios, not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
Historical market-cap ratios are not stored; a different denominator cannot cure the failed conventional-banking business activity.
Business-activity disclosure
HDFC Bank's core operations are conventional deposits, lending, mortgages, credit cards, treasury, investment banking and related financial services. Consolidated net interest income was approximately 32.92% of total income, and the bank's conventional interest-based model fails the site's qualitative business screen despite insurance, asset-management and other subsidiaries.
Limitation: The report does not classify every fee, card, trading, advisory, insurance or subsidiary contract by Sharia status. That limitation does not change the result because conventional lending/deposit-taking and disclosed net interest independently establish failure.
Purification
Purification is not calculated because HDFC Bank fails at the core conventional-banking activity level. The 32.92% net-interest ratio is evidence of failure, not a donation amount that makes continued ownership compliant.
Inputs, assumptions and primary sources
- Amounts are INR crores from HDFC Bank's consolidated FY 2025-26 financial statements.
- Interest-bearing funding includes deposits of INR 3,099,638.29 crore and borrowings of INR 588,484.55 crore; lease liabilities are excluded.
- Cash and balances include cash and balances with the Reserve Bank of India of INR 200,707.11 crore plus balances with banks and money at call of INR 111,218.94 crore. Investments of INR 1,280,216.29 crore are treated as identifiable securities.
- Advances of INR 3,050,783.23 crore are used as the conservative receivables/financing-assets numerator; this is a bank-specific analogue to receivables.
- Net interest income is INR 163,123.92 crore (interest earned less interest expended) against total consolidated income of INR 495,462.81 crore; this is direct evidence of conventional banking activity, not a purification percentage.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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