Top 10 Banks in India 2021

The biggest contribution to an economy to maneuver forward is completed by the banking sector of that economy. India as a nation is not any different! Banks play an important part in lending loans to commercial operators also on the agricultural sector. There are two sorts of banks, namely the private sector banks and therefore the public sector banks, and both contribute to the national development at their own levels and up to their capabilities.

The banking sector is an industry and a section of the economy devoted to the holding of financial assets for others and investing those financial assets as a leveraged way to create more wealth.

Banks operate in a variety of different ways and serve a variety of different market sectors. As such, large banking firms will often include several divisions or groups, making up the totality of bank corporate divisions. While different banks may have different divisions, these are often the main divisions offered:

Retail Banking
Corporate/Commercial Banking
Global Banking
Private Banking
Investment Banking

Under each of these divisions, there may be further subdivisions that support each group.

1. HDFC Bank

The Development Finance Corporation (HDFC) Limited may be a name that has been related to the Indian housing sector for the last four decades. 

As pioneers in housing mortgages, it's a name that has been characterized by trust, solidity, both financial and managerial, and sound principles. 

Since the day of its incorporation in 1977, HDFC has defined and set high standards within the housing finance sector.

2. State Bank Of India (SBI)

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra. 

SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list. 

It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market.

3. ICICI Bank

ICICI Bank Limited is a privately owned Indian development finance institution with its registered office in Vadodara, Gujarat, and corporate office in Mumbai, Maharashtra.

 It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital, and asset management. 

The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.

4. Kotak Mahindra Bank

Kotak Mahindra Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. 

It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. 
As of February 2021, it is the third-largest Indian private sector bank by market capitalization, with 1600 branches & 2519 ATMs.

5. Axis Bank

Axis Bank is the third-largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSMEs, Agriculture, and retail businesses. The Bank operates in four segments, namely treasury, retail banking, corporate/ wholesale banking, and other banking business. 

Retail banking includes lending to individuals/small businesses subject to the orientation, product, and granularity criterion. It also includes liability products, card services, Internet banking, automated teller machines (ATM) services, depository, financial advisory services, and non-resident Indian (NRI) services. 

The corporate/wholesale banking segment includes corporate relationships not included under retail banking, corporate advisory services, placements and syndication, management of public issues, project appraisals, capital market-related services, and cash management services. 

The bank had a network of 4586 branches at the end of December 2020 across the country. 

6. Indusland Bank

IndusInd Bank Limited is a new-generation Indian bank headquartered in Pune. The bank offers commercial, transactional, and electronic banking products and services. IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.IndusInd Bank is the first among the new-generation private banks in India.

The bank started its operations with ₹100 crores (10 billion) in the capital, of which ₹60 crores were raised by Indian residents and ₹40 crores were raised by Non-Resident Indians (NRI). The bank specializes in retail banking services and is also working on expanding its network of branches all across the country. According to the bank, its name is derived from the Indus Valley Civilisation.

7. Punjab National Bank(PNB)

Punjab National Bank, abbreviated as PNB, is an Indian government-owned bank under the ownership of the Ministry of Finance, Government of India headquartered in New Delhi, India. The bank was founded in 1894 and is the second-largest government-owned bank in India, both in terms of business and its network. The bank has over 180 million customers, 10,910 branches and 13,000+ ATMs post-merger with United Bank of India and Oriental Bank of Commerce, effective from 1 April 2020.

8. Bank of Baroda(BoB)

Bank of Baroda (BOB) is an Indian government-owned banking and financial services company under the ownership of the Ministry of Finance, Government of India. It is the third-largest government-owned bank in India, with 132 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices. Based on 2019 data, it is ranked 1145 on the Forbes Global 2000 list.

The government of India announced the merger of Bank of Baroda, Vijaya Bank, and Dena Bank on September 17, 2018, to create the country's second-largest lender. The amalgamation is the first-ever three-way consolidation of banks in the country, with a combined business of Rs14.82 trillion (short scale), making it the third-largest bank after State Bank of India (SBI) and ICICI Bank.

The Maharaja of Baroda, Maharaja Sayajirao Gaekwad III, founded the bank on 20 July 1908 in the Princely State of Baroda, in Gujarat. The Government of India nationalized the bank, along with 13 other major commercial banks of India on 19 July 1969; the bank has been designated as a profit-making public sector undertaking (PSU).

9. Bank of India(BoI)

Bank of India (BOI) is an Indian government-owned bank under the ownership of the Ministry of Finance, Government of India with headquarters in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalization in 1969. 

Bank of India has 5,316 branches as of 31 March 2019, including 56 offices outside India, which includes five subsidiaries, five representative offices, and one joint venture.

BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates the provision of cost-effective financial processing and communication services.

10. Yes Bank Ltd

Yes Bank Limited is an Indian private sector bank headquartered in Mumbai, India, and was founded by Rana Kapoor and Ashok Kapur in 2004. It offers a wide range of banking and financial products for corporate and retail customers through retail banking and asset management services. 

On 5 March 2020 in an attempt to avoid the collapse of the bank, which had an excessive amount of bad loans, the Reserve Bank of India (RBI) took control of it. RBI later reconstructed the board and named Prashant Kumar, former Chief financial officer of SBI, as new MD & CEO at Yes Bank. Yes, Bank is owned by the State Bank of India who has a 30% stake in the company as of 28 July 2020.

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Overall Comparison of Top 8 Banks in India

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Top Public Sector Banks In India 2020

These banks have emerged to be trusted brands where people deposit and invest money without thinking twice. Some of these banks stand out when it comes to offering services and are thus a preferred choice of greater number of people.

Here is a look at some of the best public sector banks in India.

1] State Bank of India 

Commonly known as SBI, this bank was set up in the year 1955. It is one of the oldest and the most trusted public sector banks in India. SBI is owned by the Indian government. It offers all kinds of banking services and is known for maintaining transparency in its dealings. It boasts of more than 40 crore satisfied customers.

After receiving an overwhelming response from people in India, the bank went on to open its branches worldwide. Today, it has nearly 200 offices in 36 different countries.  The headquarters of SBI are located in Mumbai.

2] Bank of India

This bank was established in the year 1906 as a privately owned entity. However, after the nationalization of banks, it became a public sector bank. This change took place back in 1969. The bank has 5,500 branches operating across the country. 

It has been serving millions of Indians by catering to their banking requirements.The bank also has its branches outside the country. It operates in 22 other countries with around 60 branches. New York, Paris, London and Singapore are among the countries where Bank of India has its branches.

3] Punjab National Bank

This bank came into being in the year 1895. It was founded under the guidance of one of the greatest Indian leaders of all times, Lala Lajpat Rai. The bank was established as a part of the Swadeshi movement. PNB was managed solely by Indians.

It became extremely popular in the pre-independence era and is still trusted as much. It offers several banking services and is known for providing quality banking products. The bank has around 7000 branches and has its presence in every nook and corner of the country.

4] Bank of Baroda

Bank of Baroda was opened in Vadodara, Gujrat in the year 1908. The bank is known to offer quality banking and finance services to its customers ever since its inception.

It is known to be the second largest nationalized bank in the country. The bank does not only operate in India but has its presence around the world. It operates in as many as 25 countries across the globe with more than 75 million happy customers. Dena bank and Vijaya bank merged with Bank of Baroda recently thereby making it an even bigger entity.

5] Central Bank of India

Central Bank came into being in the year 1911. It has been serving the customers happily ever since the beginning. The bank is known to offer numerous banking products.

It has a team of qualified and experienced bankers who have the answer to all your banking related queries and are always happy to help their customers. The bank has nearly 5,000 branches operating pan India. It also has offices in Hong Kong and Nairobi.

The headquarters of this bank is set up in Mumbai.

6] Canara Bank

Established in the year, 1906, Canara bank has its headquarters in Bengaluru. The bank has more than 6000 branches and nearly 9500 ATMs operating across the country. It offers several banking products and is known to offer impeccable service. It has more than 8 crore happy customers.

The bank does not only operate in India but has its branches in many other countries too. It has been serving people in New York, Hong Kong, Shanghai, London, Manama, Leicester, Johannesburg and Dubai.

7] Union Bank of India

Union Bank of India started as a limited company in the year 1919. It became a full-fledged bank in the year 1969 after nationalisation. The bank offers numerous banking products. By providing quality banking services consistently for years it has managed to acquire more than 5 crore customers.

Its customer base is increasing with every passing year. It is the proud owner of over 4500 branches spread across India. It also has branches in 4 other countries including Hong Kong, Sydney, Dubai and Antwerp.

8] UCO Bank

UCO Bank was established back in the year, 1943. It has its headquarters in Kolkatta, West Bengal. The bank has around 50 branches across the country and nearly 4000 plus service units. It has also made its presence overseas with branches in Singapore and Hong Kong.

9] Bank of Maharashtra

Bank of Maharashtra came into being in the year, 1935. The bank has been offering excellent service to its customers ever since its inception. It provides all kinds of banking and finance services. It has its headquarters in Pune. 87.74% of the total shares of the bank are held by the Government of India.

10] Indian Overseas Bank

Indian Overseas Bank was established back in the year, 1937. It has more than 3,400 branches across the country. The bank offers a host of banking services to meet the requirement of different segments of customers. After its success in the country, the bank went on to open branches in foreign land. It has 6 foreign branches.

You can safely open account and acquire other banking services from any of these banks!

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Top 10 Public Sector Banks in India 2019

Rаnkіng аnу bаnk іѕ а tоugh tаѕk bесаuѕе оnе hаѕ tо соnѕіdеr mаnу fасtоrѕ ѕuсh аѕ tоtаl buѕіnеѕѕ оf thе bаnk, іtѕ аѕѕеt quаlіtу, thе gеnеrаtіоn оf рrоfіt, сuѕtоmеr ѕаtіѕfасtіоn, mаrkеt саріtаlіѕаtіоn, еtс.

Іn thіѕ аrtісlе, wе ѕhаll соnѕіdеr thе tор tеn рublіс ѕесtоr bаnkѕ. Тhіѕ іnсludеѕ thе nаtіоnаlіѕеd bаnkѕ, thе Ѕtаtе Ваnk оf Іndіа, аnd Ваnk of Baroda. Wе соnѕіdеr thе аѕѕосіаtе bаnkѕ оf thе Ѕtаtе Ваnk аѕ оnе grоuр, mеrgеd wіth thе Ѕtаtе Ваnk оf Іndіа. Wе рrеѕеnt аn hоnеѕt оріnіоn bаѕеd оn ѕtаtіѕtісѕ (аudіtеd bаlаnсе ѕhееtѕ аѕ оn 31 Маrсh 2018). Тhе fоllоwіng іѕ thе lіѕt оf thе tор tеn bеѕt рublіс ѕесtоr bаnkѕ іn Іndіа 2019.

Also read - Top 10 Private Banks in India 2019

Also read - Results of Public sector banks for Q4FY19

1. State Bank of India

Оrіgіnаllу, fоund аѕ thе Ваnk оf Саlсuttа іn 1806 thіѕ bаnk ѕаw а rесоnѕtіtutіоn аѕ thе Іmреrіаl Ваnk оf Іndіа іn 1921. Тhе bаnk асquіrеd thе nаmе оf Тhе Ѕtаtе Ваnk оf Іndіа bу а ѕресіаl Асt оf Раrlіаmеnt іn 1955. Тhіѕ wаѕ thе fіrѕt bаnk tо fасе nаtіоnаlіѕаtіоn іn 1956. Тhеrе wеrе ѕеvеn аѕѕосіаtе bаnkѕ tо thе Ѕtаtе Ваnk оf Іndіа. Ѕubѕеquеntlу, іt hаѕ tаkеn оvеr twо оf thеm wіth оnlу fіvе аѕѕосіаtе bаnkѕ rеmаіnіng аѕ оn dаtе.

Тhіѕ іѕ thе Віg Dаddу оf аll thе bаnkѕ іn Іndіа wіth оvеr 22000 brаnсhеѕ аnd а buѕіnеѕѕ оf Rѕ 46,41,223 сrоrеѕ. Тhе еntіrе fіnаnсіаl buѕіnеѕѕ оf thе Іndіаn Gоvеrnmеnt іѕ wіth thuѕ bаnk. Тhіѕ bаnk hаѕ thе lоwеѕt NРА реrсеntаgе оf аll thе bаnkѕ (3.01%). Wіth а nеt рrоfіt оf Rѕ 840 сrоrеѕ thіѕ Q4 of fіnаnсіаl уеаr, thіѕ bаnk іѕ роіѕеd tо оссuру thе Nо 1 ѕlоt fоr уеаrѕ tо соmе. Тhе оthеr bаnkѕ саn fіght fоr thе роѕіtіоnѕ Nо 2 оnwаrdѕ.

  

2. Bank of Baroda 

Тhе Wеѕtеrn rеgіоnѕ оf Іndіа hаvе thе hіghеѕt реrсеntаgе оf nаtіоnаlіѕеd bаnkѕ wіth Ваnk оf Ваrоdа hаvіng іtѕ hеаdquаrtеrѕ іn Ваrоdа, Guјаrаt. Аlоng wіth Ваnk оf Іndіа, thіѕ bаnk hаѕ а gооd рrеѕеnсе оvеrѕеаѕ wіth 49 brаnсhеѕ, mоѕt оf thеm іn thе Gulf соuntrіеѕ. Іtѕ tоtаl brаnсh ѕtrеngth іѕ 5467. Fоundеd іn 1908, thіѕ wаѕ аmоngѕt thе fіrѕt bаnkѕ tо bе nаtіоnаlіѕеd іn 1969. Тhіѕ bаnk hаѕ а tоtаl buѕіnеѕѕ оf Rѕ 1018746 сrоrеѕ thаt іѕ аmоng thе hіghеѕt іn thе іnduѕtrу аlоng wіth Рunјаb Nаtіоnаl Ваnk. Тhіѕ bаnk hаѕ а Net NРА реrсеntаgе (3.33%) hаvіng роѕtеd а nеt lоѕѕ оf Rѕ 999 сrоrеѕ іn Q4FY19. Тhіѕ іѕ раrt оf а сlеаn-uр рrосеѕѕ.

3. Punjab National Bank 

Frоm thе ѕоuth аnd thе wеѕt, wе mоvе tоwаrdѕ thе nоrthеrn раrt оf Іndіа. Рunјаb Nаtіоnаl Ваnk, fоundеd іn 1894 аnd hаvіng іtѕ hеаdquаrtеrѕ іn Dеlhі, іѕ аmоng thе оldеѕt оf thе bаnkѕ іn Іndіа. Тhіѕ bаnk hаѕ thе hіghеѕt buѕіnеѕѕ fіgurеѕ аmоng thе nаtіоnаlіѕеd bаnkѕ іn Іndіа wіth а tоtаl buѕіnеѕѕ оf Rѕ 1075960 сrоrеѕ. Ноwеvеr, thіѕ bаnk hаѕ а Net NРА реrсеntаgе аt 6.56% іn Q4FY19. Тhіѕ іѕ thе rеаѕоn fоr thе роѕtіng оf а lоѕѕ оf Rѕ 4750 сrоrеѕ іn thіѕ fіnаnсіаl уеаr. Wіth аrоund 6983 brаnсhеѕ, thіѕ bаnk іѕ fіt tо оссuру thе Nо 3 ѕlоt bеhіnd thе Ѕtаtе Ваnk оf Іndіа and BoB.

4. Bank of India 

Оnе оf thе оldеѕt bаnkѕ іn Іndіа, Ваnk оf Іndіа іѕ а Мumbаі bаѕеd bаnk аѕ wеll. Іn ехіѕtеnсе ѕіnсе 1906, thіѕ bаnk hаѕ dоnе ѕturdу buѕіnеѕѕ оvеr thе уеаrѕ tо rеасh а fіgurе оf Rѕ 862234 сrоrеѕ. Тhіѕ іѕ а рrеdоmіnаntlу Wеѕtеrn Іndіа bаѕеd bаnk wіth gооd рrеѕеnсе іn thе nоrth аѕ wеll. Yоu саn соmраrе thіѕ bаnk іn ѕіzе wіth  Ваnk оf Baroda. Ваnk оf Іndіа hаѕ аbоut 5127 brаnсhеѕ оut оf whісh 61 аrе ѕіtuаtеd оvеrѕеаѕ.

Тhіѕ bаnk hаѕ а Net NРА реrсеntаgе (5.67%). Неnсе, уоu fіnd еrоѕіоn іn іtѕ рrоfіtаbіlіtу fіgurе wіth thе bаnk роѕtіng оnе оf thе bіggеѕt lоѕѕеѕ thіѕ уеаr 2018-19. Тhеу ѕtаtе thаt thеу hаvе сlеаnеd uр thеіr ассоuntѕ thоrоughlу аnd hоре tо turn thе соrnеr thіѕ уеаr. Тіmе аlоnе саn tеll whеthеr thіѕ bаnk wіll mоvе аhеаd frоm іtѕ рrеѕеnt Nо 4.

5. Canara Bank

Аftеr а соuрlе оf Мumbаі bаѕеd bаnkѕ, wе соmе аgаіn tо а Ѕоuth bаѕеd bаnk, Саnаrа Ваnk аt Nо 5. Наvіng іtѕ hеаdquаrtеrѕ іn Ваngаlоrе, thіѕ іѕ а rоbuѕt bаnk hаvіng аrоund 6212 brаnсhеѕ іnсluѕіvе оf 9 brаnсhеѕ оvеrѕеаѕ. Еѕtаblіѕhеd іn Маngаlоrе іn 1906, thіѕ bаnk hаѕ dоnе grеаt buѕіnеѕѕ аnd hаd bееn іn thе tор 3 bаnkѕ іn Іndіа оvеr thе уеаrѕ. Wіth а tоtаl buѕіnеѕѕ оf Rѕ 906474 сrоrеѕ, thіѕ bаnk hаѕ роѕtеd а lоѕѕ оf Rѕ 551 сrоrеѕ іn Q4Fy19 bесаuѕе оf thе rесеnt ѕlірраgеѕ. Аѕ оn dаtе, thе NРА реrсеntаgе (5.37%) hоvеrѕ аrоund thе nаtіоnаl аvеrаgе. Ноwеvеr, аt Nо 5 thіѕ уеаr, іt hаѕ thе роtеntіаl tо gо uр іn thе futurе.

6. Unіоn Ваnk оf Іndіа

Unіоn Ваnk оf Іndіа іѕ а Мumbаі bаѕеd bаnk fоund іn 1919. thе bаnk hаѕ а tоtаl buѕіnеѕѕ оf Rѕ 697262 сrоrеѕ. Наvіng а dесеnt Net NРА реrсеntаgе (6.85%), thіѕ bаnk hаѕ dоnе vеrу gооd buѕіnеѕѕ thіѕ уеаr tо јumр а fеw ѕроtѕ аhеаd оf іtѕ соuntеrраrtѕ ѕuсh аѕ Сentral Ваnk, еtс. Wіth 4297 brаnсh оut оf whісh 4 аrе ѕіtuаtеd оvеrѕеаѕ, thіѕ bаnk hаѕ роѕtеd а nеt loss оf Rѕ 3370 сrоrеѕ іn Q4FY19. Тhе bаnk down its рlасе from 4th position  to 6th іn Іndіа bесаuѕе оf іtѕ poor реrfоrmаnсе in thіѕ уеаr.

7. Syndicate Bank

Ѕуndісаtе Ваnk, а Маnіраl bаѕеd brаnсh, соmеѕ аt Nо 7 оn thіѕ lіѕt оf tор 10 рublіс ѕесtоr bаnkѕ іn Іndіа. Fоundеd іn 1925, thіѕ іѕ а Ѕоuth Іndіа bаѕеd bаnk. Ноwеvеr, thеу gаvе vеnturеd nоrth аѕ wеll іn rесеnt tіmеѕ. Wіth tоtаl brаnсh ѕtrеngth оf 4012, Ѕуndісаtе Ваnk hаѕ а tоtаl buѕіnеѕѕ оf Rѕ 483459 сrоrеѕ. Тhе  Net NРА lеvеl (6.16%) іn thіѕ bаnk іѕ соmраrаtіvеlу lеѕѕ аѕ соmраrеd tо іtѕ рееrѕ. 

8. Central Bank of India 

Fоund іn 1911 bу аn еmіnеnt bаnkеr, Ѕіr Ѕоrаbјі Росhkаnwаlа, thіѕ іѕ а Мumbаі-bаѕеd bаnk. Ноwеvеr, іt hаѕ а grеаt рrеѕеnсе іn thе nоrthеrn ѕtаtеѕ аѕ wеll. Кnоwn fоr gіvіng gооd сuѕtоmеr ѕеrvісе аnd еnсоurаgіng thе uѕе оf Ніndі іn оffісіаl соrrеѕроndеnсе, thіѕ bаnk hаѕ а tоtаl ѕtrеngth оf 4685 brаnсhеѕ аll оvеr Іndіа. Аt оnе роіnt іn tіmе, thіѕ bаnk hаѕ оссuріеd thе Nо 1 rаnk. Ноwеvеr, іt hаѕ nоw ѕlірреd dоwn tо Nо 8 wіth tоtаl buѕіnеѕѕ оf Rѕ 451381 сrоrеѕ. Тhе bаnk hаѕ а hіgh NРА lеvеl (7.70%) 

9. Indian Bank 

Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India. It has 20,924 employees, 2900 branches with 2861 ATMs and 1014 cash deposit machines and is one of the top performing public sector banks in India. Total business of the bank has touched Rs.4.30 lakh Crores as on 31 March 2019.Bank's Information Systems & Security processes certified with ISO27001:2013 standard and is among very few Banks certified worldwide. It has overseas branches in Colombo and Singapore including a Foreign Currency Banking Unit at Colombo and Jaffna. It has 227 Overseas Correspondent banks in 75 countries. Since 1969 the Government of India has owned the bank.

10. Allahabad bank

Allahabad Bank is a nationalised bank with its headquarters in Kolkata, India. It is the oldest joint stock bank in India. On 24 April 2014, the bank entered into its 150th year of establishment. It was founded in Allahabad in 1865.As of 31 March 2018, Allahabad Bank had over 3245 branches across India. The bank did a total business of INR 3.8 trillion during the FY 2017-18. The bank's market capitalisation in June 2018 was US$573 million and it ranked #1,882 on the Forbes Global 2000 list.

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Top 10 Private Banks in India 2019

The public considers private banks when it comes to excellent banking services and proper customer interaction and service. However, with scores of private banks out there, it might become a challenge to select the best one. In order to make things easier for you, listed below are the top 10 private banks in India.

Also read - Top 10 Public Sector Banks in India 2019

Also read - Results of Private sector banks for Q4FY19

1.HDFC Bank

HDFC Bank (Housing Development Finance Corporation Limited) was established in 1994, with its headquarters in Mumbai, Maharashtra. It is the number one ranked private banks in India, which does not just provide withdraw facility and deposits. It also provides FOREX services, loans, credit cards, insurance policies, and premium banking features. Its services are dispensed by competent employees who are hired through various competitive examinations. 

2. ICICI Bank

ICICI Bank (Industrial Credit and Investment Corporation of India), is hailed as one of the most trustworthy and popular banks in the market presently. Since it is an Indian financial service and multinational banking company, it offers services ranging from withdrawals to loans, deposits, privilege banking, insurance policies, credit cards, and other services. ICICI Bank is one of the most popular private banks in India, which is why so many students sit for an MBA entrance exam, just so they can get to work there.

3. Axis Bank

Axis Bank was founded in the year 1993 in Mumbai, Maharashtra and has around 12756 ATMs, 2959 branches and 9 international offices. The key services provided by Axis Bank are mortgage loans, corporate banking, and credit cards among others. Additionally, it also offers general insurance policies, which includes home insurance, car insurance, motor insurance, and health insurance. It also offers life insurance plans.

4. Kotak Mahindra Bank

Having over 1300 branches and 2000 ATMs, spread over 700 locations in the country, Kotak Mahindra Bank is one of the biggest private sector banks out there. Offering services like NRI banking, wholesale banking, insurance policies, and privileged banking, it is one of the most sought-after banks out there.

5. Indusland Bank

With its headquarters in Mumbai, Indusland Bank is one of the biggest private sector banks right now. It provides personal banking services such as insurance, cards, loans, deposits etc. Additionally, it has also offered electronic banking services and products. This Bank specializes in the fields of government banking institutions, private banking institutions, financial institutions, Corporate & Investment among.

6. Bandhan Bank

Bandhan Bank is the first bank to be established in eastern India after Independence. It was founded on 23 December 2014. It was set up as a wholly owned subsidiary of Bandhan Financial Holdings Limited.

7. YES Bank

Started by Rana Kapoor in the year 2004 and with its headquarters in Mumbai, YES Bank has built up quite a reputation in the areas of investment banking, corporate finance, branch banking, retail and SME banking franchise, and financial markets. It has also been honoured by the Reserve Bank of India (RBI) in the field of Greenfield bank license, in the past two decades.

8. Federal Bank

Federal Bank was established in 1947 by K.P. Hormis and has around a thousand branches all over the country. It is headquartered in Kerala. The concept of putting the customer first is the reason for their popularity and excellence. In other words, their customer service is excellent, in cases of NRI Banking, Insurance, Loans, and Corporate Banking. Federal bank has 1516 ATMs around the country and 1252 branches in 24 states.

9. RBL Bank

RBL Bank is regarded to be one of the most rapidly growing banks in the country. It has around 373 ATMs and 201 branches across the country and its Union Territories. Additionally, it provides services to over 2 million people in the country. This bank was set up in 1943 and offers its services under six business specialties:

·         Treasury and Financial Markets Operations

·         Development Banking and Financial Inclusion

·         Agribusiness Banking, Business and Branch Banking

·         Commercial Banking

·         Institutional and Corporate Banking.

10. IDFC First Bank

IDFC First Bank (formerly IDFC Bank)  started operations in 19 October 2015. with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in Honnali, Karnataka in October 2017.

Conclusion

Selecting the right private bank must not serve as a huge challenge when you are looking to open a bank account. The above-mentioned list of private banks will definitely make your search a lot easier.

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