Best Private Bank of India

Best Private Bank of 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. The financial sector growth in India is almost 8.5% per year. This growth rate rise signifies the growth of the economy in the country. Several private sector banks are efficiently serving the heterogeneous inhabitants of the nation.

Below is the list of the best private banks in India in case you have been wondering which bank is good and want to open a new account. All you ought to do is grab a brief look and know for yourself! Here you can also check best bank for salary account in India & niyox account review.

1. HDFC Bank – Largest Private Bank in India

HDFC
HDFC

HDFC Bank was set up in the year 1994 and is headquartered in Mumbai. HDFC is the largest Bank in India, by market capitalisation, and presents multiple services varying from Credit to Debit Cards, Retail to Wholesale Banking, and Home Loans to Auto Loans. Among others, the bank services millions of clients across the nation. At present, it is one of India’s leading banks that generates employment for over 1 lakh individuals in the country.

Services offered:

  • Wholesale banking
  • Retail banking  
  • Treasury  
  • Auto loans  
  • Two-wheeler loans  
  • Personal loans
  • Loans against property  
  • Consumer durable loan  
  • Lifestyle loan
  • Credit cards

2. Axis Bank

AXIS BANK
AXIS BANK

Axis Bank has its headquarters in Mumbai and was established in 1993. In its brief existence, the bank has flourished all over the country. Axis Bank renders employment to thousands of Indians across states. Axis Bank was the third-largest bank in India as of 2021.

Services offered:

  • Personal banking
  • Corporate banking
  • NRI and Priority banking

3. ICICI Bank

ICICI
ICICI

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. ICICI Bank is one of the top banks in India and holds consolidated assets that are worth over 12 trillion rupees.

The bank forges employment for near to 85,000 individuals in the country. It is one of the most promising banks in the country in terms of loan book and CASA growth.

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)

4. Kotak Mahindra Bank

KOTAK
KOTAK

Kotak Mahindra Bank has acquired the reputation of being a top private bank in India, having been founded in the year 2003. Apart from the bank’s 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 33,000 people.

Services Offered:

  • Investment banking
  • Personal banking
  • General insurance
  • Life insurance
  • Wealth management

5. Bandhan Bank

Bandhan Bank
Bandhan Bank

The Bandhan Bank is a wholly-owned subsidiary of Bandhan Financial Services Limited (BFSL). Bandhan Bank 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 reported a revenue of over Rs 12,000 crores and has an employee base of over 60,000.

Services offered: 

  • Banking services
  • Microfinance
  • MSME
  • Affordable housing finance to semi-urban, urban, and rural consumers. 

6. RBL Bank

RBL
RBL

RBL Bank is one of the fastest-growing banks in India and was established in the year 1943 to serve the Kolhapur-Sangli belt of Maharashtra. The bank caters to over twenty lakh people across the nation.

It proposes considerable benefits, including Corporate Banking, Consumer Banking, Finance, and Insurance, apart from NRI deposits, Investment Services, and Loans, amongst other products. The bank clocked in more than Rs 8,000 crores in revenue last year while also yielding employment for more than 5,000 people.

Services offered:

  • Online banking
  • Personal banking 
  • Credit cards
  • Personal loans
  • Fixed deposits
  • Savings account & insurance

 7. IndusInd Bank

IndusInd
IndusInd

IndusInd Bank is considered the Fifth Largest Private bank in India, as per market capitalisation. IndusInd Bank has received 39th position in the Interbrand Best Indian Brands Study – 2014 and The Economic Times.

The Bank also ranked 19th amongst the Top 50 Most Valuable Indian Brands in 2014 as per the BrandZ Top 50 rankings.

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

Recently launched services:

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

Customers have admired all these unique services of Indusind Bank and helped it make it to the best private banks of India list.

8. Yes Bank

YES Bank
YES Bank

YES BANK is considered India’s sixth-largest private sector bank because of its customer-centric approach and high-quality customer service. The bank was established in 2004 and has evolved into a ‘Full-Service Commercial Bank’, offering various services and products. 

Services offered by YES Bank in India:

  • Technology-driven digital offerings
  • Corporate handling
  • Dealing with MSME and retail customers

YES Securities operates the Investment Banking, Merchant Banking, and Brokerage businesses of YES BANK by YES Asset Management (India) Limited, both wholly-owned subsidiaries of the Bank. 

9. IDFC First Bank

IDFC
IDFC

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.

Businesses retained:

  • AMC
  • Institutional Broking
  • Infrastructure Debt Fund business 

As the bank diversified into wholesale banking, it ceased to be primarily an infrastructure financier. The company quickly started putting together a strategy to realize its loan book, as the majority of its business (90%) up until 2017 had been wholesale (infrastructure and corporate loans).

10. Federal Bank

FEDERAL
FEDERAL

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.

This Bank was founded in 1931 as Travancore Federal Bank and is headquartered in Kerala. The bank 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. The bank registered a revenue of over Rs 15,700 crores in FY2021.

Located in Aluva, Kerala, Federal Bank Limited is an Indian commercial bank in the private sector.

Services offered:

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

A quick glance at all bank’s services:

BankRevenueATMsBranchesClientele
HDFC BankRs 1,55,885 Cr13,1605,103Over 49 Million
ICICI BankRs 1,61,336 Cr14,9874,874Over 18.5 Million
IDFC First BankRs 18,221 Cr1992794 Million 
Kotak Mahindra BankRs 56,814 Cr23521500 Over 17 Million
IndusInd BankRs 35,500 Cr26051938 Over 9 Million
Federal BankRs 16,271 Cr16061251 Over 9.7 Million
Yes BankRs 23,475 Cr14501120 Over 2 Million
Axis BankRs 80,847 Cr11,8014094 Over 26 Million
RBL BankRs 1200 Cr414502 Over 11.5 Million
Bandhan BankRs 14,633 Cr481999Near 17.7 Million
Private Sector Banks In India

Final Words

The bottom line is that the list of private banks in India comprises big and trustworthy banks. HDFC Bank is amongst the largest private banks as per its sales turnover and asset holdings. We have researched and dug deep to cumulate this piece of information for you. Now, selecting the right bank for yourself would rely on your financial needs. 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 and enjoy their tremendous benefits.

FAQs

Which is the most considerable No 1 private bank in India?

HDFC Bank is the most considerable and largest Private bank in India because of the Market Capital and total sales.

Which is the most secure private bank in India?

Though we have already researched and mentioned the top banks above, ICICI Bank and HDFC Bank are considered to be the most secure private banks in India with low NPA numbers and solid financials.

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