10 Best Private Banks in India

India is one of the fastest-growing economies in the world, and private banks have a major role to play in facilitating this growth. These are the banks that are owned by the private sector like individuals, companies, or other organisations.

In such kinds of banks, the government does not own any share. Private banks are the key elements of the system and help in improving the economy of the country by keeping the customers satisfied with exclusive products and services.

In India, there are a total of 21 private sector banks that are effectively serving and fulfilling the banking needs of a heterogeneous population of the nation. In case you are wondering which bank you should connect to for all your banking and financial needs, take a look at the list given below.

Here is the rundown of our top 10 private banks that offer great customer service and offer a range of products and services to uplift your banking experience. All you ought to do is grab a brief look and know for yourself!

A Quick Glance

Bank	Headquarter	ATMs	Branches	Founded
HDFC Bank	Mumbai, Maharashtra	18,130	6,342	August 1994
ICICI Bank	Vadodara, Gujarat	15,589	5,418	January 1994
IDFC First Bank	Mumbai, Maharashtra	732	675	December 2018
Kotak Mahindra Bank	Mumbai, Maharashtra	2,705	1,700	February 2003
IndusInd Bank	Mumbai, Maharashtra	2,872	2,015	April 1994
Federal Bank	Aluva, Kochi, Kerala	1386	1300	December 1949
Yes Bank	Mumbai, Maharashtra	1800	1000	2004
Axis Bank	Mumbai, Maharashtra	4,758	10,990	December 1993
RBL Bank	Mumbai, Maharashtra	414	502	1943
Bandhan Bank	Kolkata, West Bengal	432	5,639	2015

List of 10 Best Private Banks in India

1. HDFC Bank

HDFC Bank is the largest private sector bank in India by assets and the third-largest by market capitalisation. Being trusted by millions of customers, it presents multiple services varying from Credit to Debit Cards, Retail to Wholesale Banking, and Home Loans to Auto Loans. That’s not all, HDFC is also considered one of the trusted banks for salary accounts in India.

At present, it generates employment for over 1 lakh individuals in the country and is amongst the top 100 brands in the world.

Services Offered:

• Wholesale banking
• Retail banking  
• Fixed Deposits
• Auto loans  
• Two-wheeler loans  
• Personal loans
• Loans against property  
• Life and Health Insurance
• Lifestyle loan
• Mutual Funds
• Credit cards

Features:

• Countless offers and discounts from companies partnered with the bank
• Easy transactions and banking functions using a mobile application
• Rich banking experience and special benefits for high net worth customers
• Exclusive MyCards application for performing different banking functions via smartphone

2. Axis Bank

Established in 1993, Axis bank is a premier bank for the new generation. It is the third-largest private bank in the country that serves over 4594 locations and has a family of millions of customers.

In its brief existence, the bank has flourished all over the country. Axis Bank renders employment to thousands of Indians across states and offers all the banking services that customers might be looking for.

Services Offered:

• Personal banking accounts
• Corporate banking
• NRI and Priority banking
• International fund transfer
• Investment options
• Tax payments
• Government schemes
• NRI banking

Features:

• The bank offers attractive deals and offers across 3000+ brands
• You can comfortably update your account information or perform banking activities via internet banking
• Banking services can be easily accessed using your voice via Amazon Alexa
• You can call for doorstep banking services like cash pickup, instrument pickup, delivery of cash, etc.

3. ICICI Bank

ICICI Bank is one of the most dedicated private banks offering a broad spectrum of services, such as loans, deposits, privilege banking, insurance procedures, and Credit Cards. It holds the second position on the list of leading banks in the country and forges employment for near to 95,000 individuals.

The bank has a giant network of branches and ATMs that is spread not just in India but also in other countries like Singapore, Bahrain, Hong Kong, Qatar, etc.In case you want to know about NiyoX account review, we have a curated list for you.

Services Offered:

• Online money transfers
• Recurring deposits
• Current accounts
• Savings accounts
• Time deposits
• Tracking services
• Mortgages
• Loans
• Prepaid cards
• Credit cards
• Debit cards
• Automated lockers
• Digital wallets (ICICI pocket)

Features:

• For enhancing security, the bank offers facilities like 2 Factor i-safe authentication and End-to-end 256 bit Encryption
• Handpicked offers and discounts across all domains like travel, dining, shopping, bill payment, etc.
• Advance, innovative, quick, and convenient banking via mobile app and WhatsApp
• Exclusive financial solutions by experts to help you in every stage of your life. Combining all features and facilities, ICICI truly deserves in the list of most trusted saving accounts in the banking system.

4. Kotak Mahindra Bank

Kotak Mahindra Bank has acquired the reputation of being a top bank in India, having been founded in the year 2003. Being known for its customer service, there are thousands of branches that cater to the bank’s millions of customers.

This bank has an already illustrious legacy, and the bank provides employment for over 72,000 people. It holds the third position as the largest bank in the country by assets and by market capitalisation.

Kotak is the perfect bank to connect with for a rewarding and delightful experience.

Services Offered:

• Investment banking
• Personal banking
• General insurance
• Life insurance
• Wealth management
• International money transfer
• NRI banking
• Tax savings

Features:

• E-vouchers and discount coupons from 180+ brands across all categories
• Preferential banking and financial solutions for an unmatched experience
• Quick and smart answers for all the banking queries by Keya- virtual assistant of Kotak, at any time
• Banking services can be performed from anywhere at any time via mobile banking and net banking

5. Bandhan Bank

The Bandhan Bank is a wholly-owned subsidiary of Bandhan Financial Services Limited (BFSL) and is dedicated to serving the unbanked and underbanked people of India. It offers world-class financial services and banking solutions in the form of asset and liability services and products.

The bank is listed in the top 10 private banks in India. Bandhan Bank serves across the country and has a customer base of over 2.63 crore individuals. It has its outlets in 34 out of 36 states and union territories and hence is considered one of the best private banks in India.

Services Offered:

• NRI banking
• Insurance
• Personal banking accounts
• Safe deposit locker
• Corporate internet banking
• Transaction banking
• NRI banking
• Fixed deposit

Features:

• Innovative banking services in different languages can be availed by dialling *99#
• Exclusive CSR (Corporate Social Responsibility) Programmes that help underprivileged people to transform their lives
• A wide range of debit card and credit card offers on brands like Mivi, Clarks, Ferns n Petals, Travleyaari, etc.
• Anywhere, anytime banking via a mobile device that is simple, instant, and safer to use

6. RBL Bank

RBL Bank is one of the fastest-growing banks in India that is expanding its presence across the country and serves over 11 million customers nationwide.

It was established in the year 1943 to serve the Kolhapur-Sangli belt of Maharashtra, but today, it offers services across six verticals across 28 Indian states and Union Territories.

It proposes considerable benefits and creates an enduring relationship with customers by trusting and respecting them. The bank engages and understands the customer needs and provides them with best-in-class products & services.

Services Offered:

• Online banking
• Personal banking 
• Credit cards
• Personal loans
• Fixed deposits
• NRI deposits
• Investment Services
• Savings account & insurance
• Corporate Banking

Features:

• Cashback and exciting offers on making transactions via RBL debit or credit card
• Enhanced mobile banking with a 360-degree view of your relationship with the bank via RBL MoBank 2.0
• Supports livelihood opportunities and education and healthcare projects to help society and bring a change

7. IndusInd Bank

Widely respected universal bank with a strong banking presence, IndusInd bank is one of the best private sectors bank, especially amongst the new generation. It is a forerunner in the marketplace and delivers the highest quality standards in the industry.

By combining responsiveness and innovation, the bank has developed a wide range of convenient, reliable, and relevant banking products and services for Indian consumers.

Today, it serves over 2.5 crore customers and delivers its services also in London, Dubai and Abu Dhabi.

Services Offered:

• My Account My Number
• Choice Money ATMs
• Check-on-Cheque
• Cash-on-Mobile
• Direct Connect
• Quick Redeem Service 
• 365 Days Banking

Features:

• The bank is committed to sustainable economic growth that not just helps employees, consumers, and partners but also the environment
• Infinite rewards, benefits, cashback, and discounts on transactions via debit card or credit card
• Safe and secure banking with 256-bit Secure Socket Layer (SSL) technology
• 24*7 helpline service and assistance with a smart new chatbot, IndusAssist, to solve all your queries

8. YES Bank

One of India’s Top and Fastest Growing Banks, Yes bank is a must-add to the list of best private banks. It is a ‘Full-Service Commercial ‘Bank’ that has received national and international honours for its exceptional banking services.

It is highly loved by the Indian population because of its customer-centric approach and high-quality service. It has a complete range of products and services catering to the general public, retail, MSME as well as corporate clients.

Services Offered:

• Corporate handling
• Investment Banking
• Merchant Banking
• Brokerage businesses
• Branch banking
• Knowledge banking
• Transaction banking
• NRI products
• Government schemes

Features:

• 24×7 money transfer from anywhere using NEFT, RTGS, IMPS, and UPI
• Refer your friends and loved ones Yes banking app and earn reward points
• Easy and convenient mobile banking application to enjoy all the services on mobile hassle-free wherever your go
• Yes bank MSME solutions help small business owners to control their finances from a single place

9. IDFC First Bank

IDFC First Bank began operations in 2015 as a combined entity and has become one of the leading banks that provides financing for infrastructure development, primarily through project financing and capital mobilisation.

It is powered by cutting-edge technology and guided by customer-first values to offer a world-class banking experience to all customers. The bank is inspired by a forward-moving bar graph and is looking forward to growing further in the near future.

Services Offered:

• Institutional Broking
• Infrastructure Debt Fund business 
• Retail Forex
• NRI banking
• Insurance
• Consumer durable loan
• Safe deposit locker
• Wholesale banking

Features:

• Industry bank offerings and exclusive interest rates on all banking products
• The crazy card offers multiple categories for a delightful banking experience
• Rs 250 cashback on every referral and discounts on FASTag transactions
• Micro ATMs are accessible also in rural areas for performing different banking functions

10. Federal Bank

Federal Bank is named among the best private banks in India because it was one of the first banks in the country to make all branch processes computerised.

The bank has more than a thousand branches and ATMs spread across different states in India. It has over 1,000 branches across the nation and provides multiple services, such as personal banking, corporate banking, retail banking, NRI banking, insurance, and loans.

Along with India, it has its representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.

Services Offered:

• Internet banking
• Mobile banking
• Online bill payment
• Online fee collection
• Depository services
• Cash Management Services
• Merchant banking services
• Insurance
• Mutual fund products

Features:

• Bank uses the fixed deposit amount for lending to renewable energy projects and other environmentally friendly projects.
• Tailor-made banking solutions to open the world of privileges and benefits and offer an impeccable experience
• Deals and offers on culinary options, movie tickets, shopping, travel bookings, etc.
• You can perform contactless and paperless banking at any time and from anywhere using your mobile phone or the internet.

Final Word

This is our list of the 10 best private banks in India. We have researched and dug deep to cumulate this piece of information for you. Now, you can select the right bank for yourself on the basis of your financial needs. However, we personally love dealing with HDFC and IndusInd Bank because of excellent customer service and wide range of offerings across all banking and financial domains.

While some banks provide utmost security, others are reasonable; some have excellent customer services, and some, on occasion, might be a mix of these qualities. So, select the most satisfactory bank and enjoy their tremendous benefits.

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