Top Banks 2024

List of Best Banks In India

List of Best Banks In India

Last Updated : July 19, 2022, 11:58 a.m.

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In today’s world, if you have money, you must have a bank account in the best bank in India. Also, after the Pradhan Mantri Jan Dhan Yojna – A Financial Inclusion Program by Government of India – chances of individuals not having a bank account are pretty slim. But do you know about the best bank in India or public sector banks in India or about the top banks in India? If not, then don’t worry, because we will be telling you about some of the best bank in India which includes the top 10 banks in India in both categories of public and private banks in India and their banking products in a detailed way.

Which is the Best Bank in India?

The primary function of any public sector bank or private sector bank is to receive deposits and lend money to needful individuals and businesses. Banks are considered to be a synonym of trust across the world. When any individual deposits money in the nationalized banks in India, it doesn’t matter what the amount is, the individual knows that the money will be safe in the bank as compared to anywhere else. Top Banks in India help you in putting your hard-earned money in a place that will also give you interest on that amount.

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Apart from this, the bank bank in India also provide various kinds of banking services such as loan facilities, fixed deposit schemes , debit & credit card facilities, etc. Currently, there are a total of 34 nationalized banks in India of which 12 are Indian government banks and the rest 22 are private sector banks. Below is a list of all banks in India.

Best Public Sector (PSU) Banks in India 2024

List of PSU Banks Number of Branches Number of ATMs Headquarter
State Bank of India (SBI) 22,405 65,627 Mumbai
Punjab National Bank (With Merger of Oriental Bank of Commerce and United Bank of India) 10,058 13,219 New Delhi
Bank of Baroda (With Merger of Dena Bank & Vijaya Bank) 8200+ 10,000+ Vadodara
Canara Bank (With Merger of Syndicate Bank) 9,585 12,120 Bengaluru
Union Bank of India (With Merger of Andhra Bank and Corporation Bank) 8,450+ 9,800+ Mumbai
Bank of India 5,100+ 3,328+ Mumbai
Indian Bank (With Merger of Allahabad Bank) 5,835 4,899 Chennai
Central Bank of India 4,493 4666 Mumbai
Indian Overseas Bank 3,200 3400 Chennai
UCO Bank 3,000+ 4000 Kolkata
Bank of Maharashtra 2,022 1897 Pune
Punjab & Sind Bank 1,555 1554 New Delhi

Best Private Sector Banks in India 2024

List of Private Banks Number of Branches Number of ATMs Headquarter
Axis Bank 5,100+ 15,000+ Mumbai
Bandhan Bank 1,500+ 438 Kolkata, West Bengal
Catholic Syrian Bank 426 290 Thrissur, Kerala
City Union Bank 752 1,678 Thanjavur, Tamil Nadu
DCB Bank 442 308 Mumbai, Maharashtra
Dhanlaxmi Bank 255 274 Thrissur, Kerala
Federal Bank 1272 1957 Aluva, Kerala
HDFC Bank 8738 20938 Mumbai, Maharashtra
ICICI Bank 6000 17000 Mumbai, Maharashtra
IDBI Bank 2000+ 3300+ Mumbai, Maharashtra
IDFC First Bank 897 216 Mumbai, Maharashtra
IndusInd Bank 2728 2939 Mumbai, Maharashtra
Jammu & Kashmir Bank 996 1414 Srinagar, Jammu and Kashmir
Karnataka Bank 859 915 Mangaluru, Karnataka
Karur Vysya Bank 780 2000+ Karur, Tamil Nadu
Kotak Mahindra Bank 1780 2963 Mumbai, Maharashtra
Lakshmi Vilas Bank 570 1045 Chennai, Tamil Nadu
Nainital Bank 135 - Nainital, Uttarakhand
RBL Bank 538 388 Mumbai, Maharashtra
South Indian Bank 852 1393 Thrissur, Kerala
Tamilnad Mercantile Bank Limited 509 1156 Thoothukudi, Tamil Nadu
Yes Bank 1100+ 1200+ Mumbai, Maharashtra

Standalone Net Profit of Top Banks for FY 2020-21 Across Different Quarters (- sign shown in the table denotes net loss)*

List of Banks Q1 (In INR) Q2 (In INR) Q3 (In INR)
SBI 4,189.34 Cr 4,574.16 Cr 5,196.22 Cr
HDFC Bank 6,658.62 Cr 7,513.11 Cr 8,758.29 Cr
ICICI Bank 2,599.15 Cr 4,251.33 Cr 4,939.59 Cr
Punjab National Bank (OBC & United Bank of India) 308.45 Cr 620.81 Cr 506.03 Cr
Bank of Baroda (Dena Bank & Vijaya Bank) -864.26 Cr 1,678.60 Cr 1,061.11 Cr
Axis Bank 1,112.17 Cr 1,682.67 Cr 1,116.60 Cr
Kotak Mahindra Bank 1,244.45 Cr 2,184.48 Cr 1,853.54 Cr
Bank of India 843.60 Cr 525.78 Cr 540.72 Cr
Canara Bank 406.24 Cr 444.41 Cr 696.06 Cr
IndusInd Bank 460.64 Cr 647.04 Cr 852.76 Cr
YES Bank 45.44 Cr 129.37 Cr 150.71 Cr
Karnataka Bank 196.38 Cr 119.44 Cr 135.38 Cr
Indian Overseas Bank 120.69 Cr 148.14 Cr 212.87 Cr
RBL Bank 141.22 Cr 144.16 Cr 147.06 Cr
UCO Bank 21.46 Cr 30.12 Cr 35.44 Cr
Union Bank of India (Andhra Bank & Corporation Bank) 332.74 Cr 516.62 Cr 726.84 Cr

*Source: Data sourced from bank websites and news journals such as Economic Times, Business Standard, Money Control, etc.

Top 10 Nationalized Banks In India 2024

Now that you’ve gone through the list of all banks in India, you would want to know the best public sector banks in India. Let’s first be told what public sector banks are. Also, known as nationalized banks in India, these banks have maximum shares held by the government. You can have a look at some of the best Public Sector Banks (PSU) in or the list of government banks in India below.

State Bank of India (SBI)

Having 23% of shares of the total market assets in India, this bank is the largest public sector bank of India and tops the list of best bank in India. It also holds 1/4th of the total loans and deposits in the current financial market. It provides a wide range of banking products to its customers that you can see below.

Credit Card: SBI, the government bank of India, caters to a wide range of customers with its different types of credit cards spanning from Shopping to Travel & Fuel to Business Cards. You can choose the one according to your spending behavior. There’s always a card for everyone.

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Home Loan: Looking for funds at an affordable interest rate with easy repayment options? Don’t worry, with the largest home loan facilitator in India, you can opt for a home loan for various purposes like home extension, home renovation, flat/land purchase, etc at a competitive rate of interest.

Apply Home Loan @ 8.65%* Rate

Personal Loan: Facing a sudden need of funds for a wedding or the latest iPhone? You can opt for a wide range of personal loan schemes that SBI, government bank of India, provides to salaried, self-employed, and pensioners. You can get as much as INR 20 lakh loan amount in a hassle-free manner with the help of schemes like Xpress Credit Loan .

Apply Personal Loan @ 10.75%* Rate

Car Loan: SBI also lets you take a car loan if you want to buy a car with the longest repayment tenure of 7 years at lower interest rates and EMI available in the market.

Punjab National Bank

Punjab National Bank, the government bank of India, after the recent merger with the Oriental Bank of Commerce and the United Bank of India, has become the second-largest public sector bank of India with an overall business of around INR 8 Trillion. It provides a wide range of amazing products to its customers. Some of them are mentioned below.

Deposits: PNB, the Indian government bank, provides a wide range of deposit schemes by which you can earn interest on the amount you deposit in the bank. Some of them are Savings account , Current Account, Fixed Deposit schemes, etc. You can put your hard-earned money into these deposit schemes.

Housing Loans: Ranging from schemes like PNB Pride Housing Loan for Government employees to the Pradhan Mantri Awas Yojna for all, PNB gives home loan facilities to all those individuals who want to buy their dream home.

Education Loan: Whether you want to pursue higher education abroad or want to study in some premier institutes of India, PNB lets you choose from a range of education loan schemes. Some of them are PNB Udaan, PNB Pratibha, PNB Kaushal, PNB Saraswati.

Vehicle Loan: There is a range of different loan schemes catering to various strata of individuals who want to buy a two-wheeler or car. There is a special scheme named PNB Power Ride for women who want to buy two-wheelers. Other than that, there are schemes like PNB Saarthi, PNB Pride Car Loan scheme for government employees.

Union Bank of India

Among the best public sector banks in India, Union Bank of India, the government bank of India has been a steady performer over the years. It has a range of banking products in categories like consumer banking, corporate banking, mortgage loans, investment banking, etc. Also, recently, Andhra Bank and Corporation Bank merged into this bank, taking the overall business to INR 14.59 Trillion. Check out below the various schemes the nationalized banks in India provide to its customers.

Accounts and Deposits: You can choose to deposit your money in one of the amazing deposit schemes provided by Union Bank of India. Some of them are the Monthly Income Scheme, Union Tax Saver Deposit, Gold Monetisation Scheme. Besides this, you can also get your savings or current account opened in the bank.

Credit Cards: Want to get your hands on one of the finest credit cards? Choose from an extensive line of credit cards catering to different individual needs. There are a total of 6 types of Union Bank credit cards that are Classic, Silver, Gold, Platinum, Usecure, and Signature. You can choose according to your needs.

Home Loan: If you’re a BSNL employee, you can get a home loan facility from the Union Bank of India tailored made for you. Don’t worry if you’re not a one because it also has schemes for other people also like Union Awas, Union Smart Save, Union Top-up. Eligible individuals can also opt for the PMAY scheme.

Vehicle Loans: With the help of Union Miles, the car loan scheme of the bank, you can buy your dream car or two-wheeler at an affordable rate of interest. If you’re a BSNL employee, you can get upto INR 125 lakh loan amount to purchase the new four-wheeler.

Canara Bank

Being one of the oldest public sector banks of India, Canara Bank has become the fourth largest PSU bank after the recent merger of Syndicate Bank into it. The banking services provided by Canara Bank, the government bank of India resonate perfectly well with the headline – ‘Together We Can’. By giving an extensive range of amazing products to customers, Canara Bank has been constantly making their life easier and convenient. Have a look at some of the top-class services that the bank offers.

Deposits and Accounts: Whether you want to open a savings account, current account, fixed deposit account, recurring deposit account or even savings bank deposit for your children, Canara Bank has all. You can choose to put your hard earned money in any of these deposit and account schemes.

Housing Loan: Available for various purposes like construction of your home, home/land purchase, etc, Canara Bank home loan serves you well if you want to borrow a loan amount. Also, the interest rates are pretty much affordable and with easy repayment options, you won’t break a sweat while repaying it.

Vehicle Loan: Canara Vehicle Loan is perfect for individuals who want to buy their dream car but are short of funds. You can take the loan amount from 80% to 90% of the road price of the vehicle you want to own. In case you want to buy a used car, you can opt for a loan amount of as much as INR 15 lakh.

Personal Loan: Provided by one of the best bank in India, Canara Bank’s Consumer loan is available to both salaried and self-employed individuals to fulfill their financial needs at an affordable rate of interest. You need to remember that you will have to repay the loan within 36 months via Easy Monthly Installments (EMI). You will have to meet a few eligibility criteria.

Bank of Baroda

Whenever there are talks about the best bank in India or best Public Sector Banks in India, it is simply not possible to talk about the Bank of Baroda which has become the third-largest lender of the country after the recent merger of Vijaya Bank and Dena Bank into it. Known as India’s International Bank, Bank of Baroda has served over 127 million customers across 21 countries and its consumer base is only growing with each passing day. We have showcased a range of banking products provided by the bank below.

Education Loan: With several education loan schemes like Baroda Vidhya (Loan for Nursery to XII), Baroda Gyan (Higher Study in India), Baroda Scholar (Higher Study Abroad), Baroda Education Loan to students studying in premier institutes in India, etc, this public sector bank tries to empower those who want to learn but don’t have enough money on their hands. With premier education loan facilities like this, Bank of Baroda has strived to become one of the best banks in India.

Personal Loan: The Bank of Baroda personal loan option can be the perfect solution for individuals wanting urgent funds. The loan amount can be a maximum of INR 10 lakh in metro cities and INR 5 lakh in semi-rural and urban areas. You can easily repay the loan amount with a pre-determined EMIs.

Vehicle Loan: Wanting to buy a new car or two-wheeler and looking for funds to do so? With the help of BOB Vehicle Loan, you can easily opt for the maximum loan amount of INR 100 lakhs with the repayment period of 84 months. You can get a loan upto 90% of your vehicle’s on-road price.

Housing Loan : Buying their dream home is everyone’s dream and BOB home loan facility lets them achieve their dream in a hassle-free manner. You can get it for various purposes such as construction, renovation, extension, land purchase, etc with facilities from BOB like Baroda Home Loan Advantage, Baroda Top Up Loan, Baroda Pre-approved Loan, etc.

Bank of India

Among the top banks in India, there is a public sector bank that has been constantly putting its best foot forward with the impeccable banking services it provides to its customers. With banking products such as credit cards, insurance services, home loan, personal loan , vehicle loan, etc, this public sector bank been serving its customers efficiently since founded in 1906. After its nationalization in 1969, it has become one of the government-owned nationalized banks in India.. Below you can have a detailed look at its services.

Credit Card: Since the inception of credit card services in India, Bank of India has been helping customers make the most of their shopping experiences with a wide array of credit cards. Some of its top cards are India Card, Mastercard Platinum International, VISA Platinum Contactless Card, VISA Business Cards, Sangini Credit Card, etc.

Home Loan: With the BOI Star Home Loan facility, you can opt for a maximum loan amount of INR 500 lakhs with a repayment period of 30 years. Also, you don’t have to worry about the interest rate on your home loan as it is the best and most competitive one in the market. You can also get a life insurance cover in order to protect your home loan.

Rural Banking Services: With the primary focus on the individuals living in rural areas, Bank of India provides exclusive services such as Kisan credit cards, Kisan Samadhan Card, Star Bhumiheen Kisan Card, and BOI Kisan Shatabdi Krishi Vikas Card.

Salary and Current Account: You can opt for a variety of salary and current accounts at BOI public sector bank. Some of them are Jai Jawan Salary Account, BOI Salary Plus Account Scheme, BOI Star Gurukul SB Account, Gold Current Account, Silver Current Account, Platinum Current Account, etc.

Central Bank of India

This public sector bank has a wide network of branches across all the 29 states and also in 6 out of 7 Union territories in India. Apart from this amazing feat, the Central Bank of India was also the first commercial bank to be completely managed and owned by Indians. This government bank of India provides banking services to individuals whether they are salaried and self-employed. Some of them are mentioned below.

Credit Card: Everyone loves credit cards because of the financial freedom and convenience they give. If you’re someone who is looking for a credit card, then you have to decide from a variety of options. Loaded with amazing features like a reward, cashback offers and other benefits, the Central Bank of India Credit Card will be a perfect shopping companion to you. Some of the Central Bank of India credit cards are VISA Platinum credit card, Titanium Credit card, Rupay Select credit card.

Loan against Property: If you are in need of urgent funds and want to borrow a loan amount against your property, you can opt from the various schemes provided by the Indian government banks, Central Bank of India. The schemes include Cent Mortgage, Cent Rental, Cent Trade, and Cent Mortgage Scheme for Educational Institutes.

Personal Loan: Looking for funds to meet your personal needs? You can always opt for a Cent Personal loan scheme by which you can get the loan amount at an affordable interest rate and repay it in 48 easy monthly installments. It is only available to the salaried and permanent employees.

Indian Bank

Being one of the premier best bank in India, Indian Bank is the seventh-largest PSU Bank in the country. After the recent merger of Allahabad Bank into it, it has only grown into a stronger position. Having a Pan India presence, all the branches of the Indian Bank are under Core Banking Solution (CBS) by which customers can manage their accounts and use their banking facilities from anywhere at any time. Indian Bank caters its customers by providing them a wide range of banking products such as deposit schemes, loans and digital products. Take a look at some of them.

Loans to Individuals : Indian Bank provides an extensive range of loan products that can be availed by individuals for various purposes such as buying a home, funding their current financial needs, education funds for your child, loan against deposits, etc. Some of the amazing Indian Bank products are IB Home Loan Combo, IB Rent Encash, IB Clean Loan (Given to only salaried Class), IB Mortgage, IB Bala Vidya Scheme, IB Pension Loan, etc.

Deposit Products : On having a need to deposit your hard-earned money, you can do that in one of the many deposit schemes provided by Indian Bank. Some of them are Savings Bank Account, Current Bank Account, Term Deposits, etc. By depositing your money into these accounts, you can be free from any kind of worry.

Digital Products: In the modern digital age, Indian Bank has been making its presence felt in the banking sector by providing a wide range of digital products such as debit cards, credit cards, Internet Banking, POS, IndPay, etc. Talking about Credit cards, you can choose from several Indian Bank credit cards that can help you overcome any unforeseen emergency.

Indian Overseas Bank

Out of the total 12 best PSU Banks in India, Indian Overseas Bank holds a pretty important place because of the impeccable banking products and trust it provides to its customers. When it was founded in 1932, it had the primary goal of having specialization in Foreign Exchange Business in banking to take the institution across the world. Now cut to 2019, it has evolved so much that it is providing top-notch banking products to the customers in the country as well as in 5 foreign countries. Some of them are home loan products, retail loans to consumers, credit card services, insurance, mutual fund services, etc. Read below to know about these products and services.

Retail Loans: Whether you want a term loan in order to pursue your passion or hobby like Arts, Music, Dance, Photography, etc or you want funds for education or you want to buy a new four-wheeler or Two-wheeler, Indian Overseas Bank helps you in everything you want. Some of its products are IOB Passion, Vidhya Jyoti, Consumption Loans – Sahayika, Commercial Cash against Jewellery.

Credit Cards: In the current age when everyone has a credit card in their wallets, if you also want to get your hands on one of the finest cards of Indian Overseas Bank, then you can opt for the IOB 123 Credit card with a minimum credit limit of INR 10,000 and a maximum limit of INR 10 lakhs. You can also earn reward points on using the card.

Home Loan: Looking to buy your dream home but are short of funds? Don’t worry! With the help of amazing home loan products such as Subha Gruha, Home Decor, Home Improvement schemes, you can turn your dream into reality. Available at an affordable rate of interest and easy repayment options, this is arguably the best loan option for you.

Bank of Maharashtra

Built on the trust of people, Bank of Maharashtra has been one of the finest public sector banks of India. As its tagline suggests ‘One Family, One Bank’, this bank always had a tech-savvy and customer-centric focus over the years. With its amazing banking products, customers never shied away from taking them, and as a result, it has built a solid reputation over the years. Some of the amazing products provided by the Bank of Maharashtra that makes it one of the best bank in India are its deposit schemes, various loans and digital banking services. You can check these below in detail.

Deposit Schemes: With savings, current account and term deposit schemes, Bank of Maharashtra has been amongst the most preferable banks of our country. Some of them are Royal Saving Account, Purple Saving Account, Yuva Yojna, Lok Bachat Yojna, Diamond Current Account, Monthly Interest Deposit Scheme, Mahalaxmi Term Deposit Scheme, etc.

Loan Products: When it comes to the loan schemes, it ranges from retail loans to corporate loans to MSME Loans to Loan for Agriculture. The rate of interest on all loan schemes is pretty competitive and affordable. Also, the loan procedure is so hassle-free that you won’t be able to think twice before opting for it. Some of the loan products are Maha Ghar loan scheme, Maha Super Car Loan, Maha Combo Loan scheme, Education Loan, Mahabank Kisan Credit Card (KCC), etc.

Digital Banking Products: With the inception of Digital banking, Bank of Maharashtra also launched some of the amazing products that can be aligned with current technology. Some of them are Maha Mobile, Maha E-pay, Maha UPI, etc. You just need to have your phone with yourself in order to use these digital banking products.

Top 10 Private Banks in India 2024

After getting acquainted yourself with the top 10 nationalized banks in India, now it’s time to know about the top 10 private banks in India. First of all, know about what is a private bank. Unlike a nationalized bank, in a private bank, the majority of shares are not held by the government. Instead, they are owned by private entities shareholders. Here are some of the top private banks in India.


When it comes to the number one private sector bank of India in terms of total assets, the name of ICICI Bank comes atop. Apart from that, in terms of assets and market capitalization, ICICI Bank is the second-largest private sector bank in the country. What makes ICICI Bank one of the top banks in India is its large network of branches across the country. ICICI Bank is also known to be one of the Big Four top Banks in India with banks like State Bank of India, Punjab National Bank and Bank of Baroda based on total assets and market capitalizations. A wide range of products such as fixed deposits, savings & current accounts, Loans, Credit Cards makes this bank one of the best banks in the country. Check out the CICI Banking products below.

Credit Cards: ICICI Bank provides amazing credit cards loaded with exquisite features like reward points, cashback offers, and savings on various categories like shopping, movies, dining, etc. You can choose from several credit cards and have an unforgettable experience of using them. There are ample benefits on using ICICI bank credit cards in categories like travel and lifestyle. Some of the most popular ones are Coral, Sapphire, Rubyx, HPCL credit card, MakeMyTrip Credit cards.

Home Loan: Looking for a loan option to buy your dream home? ICICI home loan option will be the most suitable one for you because of the affordability and convenience it provides. You can easily repay the loan via the EMI option within the repayment period. You can also use the ICICI Bank EMI Calculator to have an estimate about the EMI amount before opting for the loan.

Vehicle Loan: With the help of ICICI Car loan, you can buy both new and pre-used cars at an affordable rate of interest. The loan amount that you will get can be upto 100% of the road price of the vehicle for a repayment period of 7 years.

Insurance Services: ICICI Bank also provides a variety of insurance services such as Life Insurance, Car Insurance, Travel Insurance, Health Insurance, etc. You can secure a lot of things with the help of such amazing insurance services.


The tagline of HDFC Bank reads – ‘We Understand your World’ and it fully proves these lines by the body of work it possesses. Being the largest private top banks in India in terms of total assets and market capitalization, HDFC Bank is one of the top-performing and largest private sector bank in India. When we talk about brand value, it is within the 100 Most valuable Global Brands across the world. Have a glance at some of the banking products HDFC Bank provides.

Educational Loan: If you are in search of funds for your child’s education, apply for an HDFC education loan from the largest bank in India. You can get a loan upto INR 7.5 lakh without any collateral. Also, you can get an exciting rate of interest while taking the loan for admission in top-ranked colleges and universities

Home Loan: With an option to choose between the fixed and floating rate of interest, the HDFC home loan can be the best option for you as it also gives you the loan approval even before selecting the property. Available at an affordable rate of interest, this home loan can turn your dream into reality.

Credit Cards: You can enjoy unmatched privileges with a wide range of HDFC credit cards . You can choose which card will be best for you from various credit cards according to the spendings you make. There is one for everyone – Whether you’re looking for a lifestyle card or travel, entertainment or shopping or reward or a cashback card. There is also an exclusive credit card for women named Women Credit Card.

Loan Against Assets : If you’re in a sudden need for funds, you can always opt for a loan against assets schemes from the largest private sector bank in India. Some of them are loans against credit cards, loans against property, loans against cars, loans against securities.

Axis Bank

Axis Bank is the third-largest private sector bank of our country. One of the reasons that makes Axis Bank one of the best bank in India in the private sector, is the largest number of ATM networks across the country. After ICICI and HDFC Bank, if there is one bank that is the most preferred bank among the customers, it is Axis Bank. You can apply for several banking products here. Some of their most preferred products are in categories like home loans, retail banking, corporate banking, mortgage loans, wealth management, etc.

Loan Schemes: Axis Bank provides amazing loan schemes to its customers at an affordable interest rate and in a hassle-free manner. Some of their top loan schemes are Home Loan, Personal Loan, Gold Loan, Loan against Securities/Property, Education Loan, Vehicle Loan, Holiday Loan, Business Loan, etc. You can choose from them according to your financial needs.

Card Services: People don’t like to carry cash with them all the time. Times are changing, now everyone wants that piece of plastic in their wallet. Keeping this in mind, there is a range of Axis Bank cards at your disposal – Credit cards, Debit Cards, Prepaid Cards, Transit Cards, Commercial credit and debit cards, etc.

Insurance Schemes: It doesn’t matter which Insurance category you’re seeking. Axis Bank has got the finest range of insurance services that can help you in securing your future as well as durables depending on what kind of insurance you’re taking. Some of the insurance schemes are Life Insurance, Health Insurance, Travel Insurance, Pradhan Mantri Suraksha Beema Yojna, etc.


Established initially for the purpose of boosting the industrial sector of our country, IDBI Bank has become one of the premier private banks of our country. With services like loans, deposits & accounts, payment services and investment solutions, IDBI Bank provides easy access and quick solutions to people faced with all kinds of financial problems. With a core vision of having the most preferred and trusted banking solution for the customers, IDBI Bank comes among the top private banks of the country.

Savings and Current Account: With an exquisite range of savings and current accounts at your disposal, you can put your hard-earned money in these accounts. Some of them are Super Savings account, Super Shakti (Women) Account, Being Me Account, Power Kidz Account, Flexi Current Account, etc.

Loan Products: IDBI Bank provides all kinds of loans to choose from – whether you’re looking for a home loan or a car loan or education loan or personal loan for your sudden financial needs. You can get your hands on one of the most competitive interest rates available in the market. You can choose to pay them later via Equated monthly installments (EMI).

Credit Cards: Looking for a card that could complement your spending habits as well as give you amazing rewards and cashback offers? Then, you can surely choose from a wide gamut of credit cards according to your preferences and spending behavior. Some of them are Royale Signature, Euphoria World, Winnings Credit card, etc.

Yes Bank

Being ranked as one of the fastest-growing and top banks in India, Yes bank has been doing a wonderful job of providing a range of amazing banking services since 2004. It has been striving towards the mission of being the finest quality large bank of India and seeing its growth over the years, it will surely reach its goal.

Vehicle Loan: Whether you want to buy a four-wheeler or two-wheeler, you can always opt for a car or bike loan from Yes Bank at an affordable interest rate with easy repayment options. With features like faster processing and easy documentation, this could be the perfect choice for you. Also, Yes bank promises a 2-day service guarantee on its car loan scheme.

Housing Loan: Yes Bank can help you in turning your long-due dream of owning a home into reality with its amazing home loan facility. With interest rates ranging from 9.40% to 10.25% per annum, this home loan facility by Yes Bank can be a suitable choice for you. You can get the loan amount for a maximum of INR 5 crores.

Credit Card: Loaded with amazing reward points options, secured transactions, faster processing, cashback offers and seamless bill payment, a credit card from Yes Bank can be the right choice for your wallet. Some of the Yes bank credit cards are Prosperity Edge, Rewards, Rewards Cashback, etc. You can also get a credit card against a fixed deposit.

Kotak Mahindra Bank

Kotak Mahindra Bank has emerged as one of the top banks in India after its acquisition of ING Vysya Bank in 2015. Since its inception in 1985 when it started as Kotak Mahindra Finance Ltd cut to the present day as a full-fledged private bank, it has succeeded in building an amazing brand out of its name with amazing products. You can choose a product exclusively for you from the range of services provided by Kotak Mahindra Bank. Some of them are personal finance, wealth management, investment banking, general insurance, life insurance, etc. Below you can see detailed information about some of them.

Accounts and Deposits: Kotak Mahindra Bank provides some exceptional accounts & deposits services to the customers in which they can put their hard-earned money. Some of them are Fixed Deposit (FD), Tax Saving FD, Senior Citizen FD, Recurring Deposit, Corporate Salary Accountants, Retail Institutional Accounts, etc. You can also use the Kotak Mahindra Fixed Deposit Calculator to know the amount you can get after a certain period.

Card Services: Want to have an amazing piece of plastic in your wallet that can give you lots of rewards, cashback and preloaded money while traveling abroad? You can opt from forex cards/prepaid cards, debit cards and credit cards of the bank. Some of the Kotak Mahindra credit cards are PVR Gold, League Platinum, Aqua Gold, Urbane Gold, etc.

Loan Facilities: Kotak Mahindra lets you avail funds for a variety of requirements whether you want to buy a home or the latest piece of gadget or even a car. The loan can be granted at an affordable rate of interest and with easy repayment facilities at their disposal.

IndusInd Bank

Do you know that one of the top banks in India – IndusInd Bank’s name draws its name and inspiration from Indus Valley Civilization which is one of the greatest ancient cultures in the world? Well, now you know this fact and you must be understanding the facts behind the excellence of IndusInd Bank. With the promise of being an amazing business and banking partner to its clients, IndusInd Bank provides a range of services that help in fulfilling its promises. The services include Loans, Deposits, Accounts, Insurance, Investments, etc. You can have a peek at some of them below.

Investments: If you want to invest your money into something to get some lucrative return or a regular fixed income then, you can invest in one of the many investment schemes provided by IndusInd Bank. Some of the schemes are Mutual Fund investment, National Pension Scheme (NPS), Sovereign Gold Bond, ASBA, etc.

Accounts and Deposits: Want to open a normal savings account or salary account or fixed/recurring deposits? You can choose from several IndusInd Bank accounts. Some of the schemes are IndusOnline savings account, Defence Salary accounts, Senior Citizen Schemes, Young Saver Deposits, Regular Recurring Deposit, etc.

Loans : Having short of money while buying a new or used four-wheeler or planning to buy a home? No matter what your purpose is, you can opt from a large pool of loan options such as home loan, personal loan, car loan, two-wheeler loan, used car loan. Without worrying about the hefty interest rate, you can apply for the loan options in an easy way.

Card Facilities : IndusInd Bank has a range of plastic cards that you can have in your wallets such as debit cards, credit cards, prepaid cards, forex cards, Duo cards, and commercial cards. You can meet all your needs with a variety of cards at your disposal.

Federal Bank

Having a tagline of ‘A Perfect Banking Partner’, Federal Bank certainly stays true to it by providing a slew of efficient and convenient banking solutions to the customers. Federal Bank was one of the many banks that made all their branches computerized as soon as the digital inception started to happen in our country. With its mission to be the most admired bank in the country, Federal Bank offers its customers a slew of services such as depository services, insurance services, internet banking, mobile banking, online bill payment, mutual fund products, insurance schemes, and many more.

Loan Products: One of the top banks in India – Federal Bank lets you avail of a number of loan products if you’re having any kind of difficulty regarding the funds. You can opt for an education loan if you want to fund your child’s education or a home loan if you want to turn your dream home into reality or a personal loan on having an urge to buy a new phone, and there are many more. You can opt for a car loan in case you’re planning to buy a brand new car. The options are endless.

Card Facilities: You’ll surely enjoy any of the plastic cards provided by the Federal Bank in your wallet because of the convenience they give to you. Some of the Federal Bank cards are debit cards, credit cards, contactless debit cards, Gift cards, Forex Cards, etc. You can even choose the EMI facility on your debit card.

Insurance and Investments: Federal Bank also provides a wide variety of insurance schemes such as Health Insurance, General Insurance, Life Insurance, etc. You can also invest in one of the mutual fund schemes provided by them. Apart from all this, you can also do online trading with the help of the Fed-e-Trade facility.

IDFC First Bank

When there are talks about the best bank in India, it’s almost impossible to not mention IDFC First Bank because of its range of exquisite banking products. Established in 2015, IDFC Bank was merged with Capital First, which is a retail asset franchise in 2018, and thus, IDFC First Bank was formed. Despite functioning from a short period, it never hindered in generating a huge user base of their own which counts to 70 lakh live customers for now. And the best thing about this is that among all the customers, 30 lakh customers are from rural areas. You can have a look at some of the products offered by the IDFC First Bank.

Savings Account: Whether you want to save for yourself or secure your child’s future by saving for them, you can opt for a savings account by IDFC First Bank. Some of the savings accounts are Senior Citizens Saving Account, Regular Savings Account, Corporate Salary Account, Vishesh Savings Account (With Rupay Platinum Debit Cards), Minor’s Savings account, etc.

Micro-Enterprise Loan: If you want to start a new small business in the rural areas, then you can take a micro-enterprise loan specially made for small rural entrepreneurs. You don’t need to present any kind of collateral. For loans upto INR 3 lakhs, you don’t even need any kind of income proof. This loan facility is also known as Vyapar Vridhi Loan.

JLG Loan for Women: In order to empower women, IDFC First Bank has designed Sakhi Shakti Loan so that they can opt for credit and savings solutions. Women borrowers can opt for this facility with a basic document as Aadhar Card.

Home Loan: Want to achieve your long-due dream of owning your home but short of funds? Don’t worry as you can opt for the IDFC First home loan at an affordable rate of interest with the minimal documentation process. Available to both salaried and self-employed individuals, this loan facility has made it possible to buy their home for many customers.

Investment Services: There are plenty of investment services provided by IDFC First Bank such as Mutual funds, Gold Bond, Online Trading, Demat Trading, and Investment-Linked Insurance. These are some of the amazing banking services provided by the bank that many customers opt for this facility to get returns on their money.

Jammu and Kashmir Bank

Considered to be the first private sector banks in India to emerge as the State-owned bank, Jammu and Kashmir Bank is one of the finest banks of India that serves as a Universal Bank in Jammu and Kashmir and as a specialized bank in the rest of the country. The products offered by this bank looks to cater to households, small and medium enterprises. The principal followed by the bank is Socially Empowered Banking which clearly can be seen by the range of products it offers. Some of the prominent ones are loans, investment options, Term bank deposits, personal accounts, and credit card facilities. You can learn about some of them below.

Loans: The list of loan schemes provided by the leading bank, J&K bank is so long that it can be talked about for hours. You just name the purpose. From a Laptop/PC Finance scheme to the Housing Loan scheme, Jammu and Kashmir cover everything. Some of the loan schemes are Saral Finance, Scooty Finance for Ladies, Smartphone Finance, Modular Kitchen Finance, Car Loan for new and pre-used cars. All these loans can opt at an affordable rate of interest.

Personal Accounts: If you want to open an account for yourself in the J&K Bank, then there are a number of options from which you can choose according to your needs. Suppose that you want to deposit your salary every month, then a General or Deluxe Salary account would be perfect for you. Whereas if you want to deposit the money for your family, then you can choose the Family Protection Savings Account. Other than these, there are Pension Account, Student Savings Account, etc.

Term Deposits: If you want to fix your amount for a fixed amount of time, then you can opt from various term deposit schemes provided by the Jammu and Kashmir Bank. Some of the schemes are Tax Saver Term Deposit scheme, Smart Saver Term Deposit scheme, Child-care Deposit scheme, Depositor’s Pension Scheme, etc.

What is the History of Banking in India?

Security is the topmost feature that individuals seek while depositing money in a bank. The banking system was introduced in India during the British Era. Back then, there used to be only a total of three banks in our country. When our country got freedom in 1947, our banking sector was in tatters and it needed a governing body that could help in regulation and smooth functioning of all the banks.

By that time, only the State Bank of India was the major public sector bank or say, nationalized bank. There were other banks also but they were working as private banks. The nationalized banks in India were the need of the hour to instill more confidence among the common people and to have a better penetration in the Indian rural sector. Top banks in India were nationalized in 1969 and 1980 to meet the emergent needs of the economy. After this, India has seen one of the major banking reforms on 30th August 2019, where our finance minister announced that 10 top banks in India will be merged into 4 separate entities to create a better banking structure.

Frequently Asked Questions

1. Which bank is India's no 1 bank?

In terms of value of assets, HDFC bank is considered as India’s no 1 bank.

2. Which is the largest bank of India?

HDFC bank is currently placed as the largest bank of India in terms of asset values and market capitalization.

3. How many nationalised banks in India are there?

As of July 2020, there are presently 12 nationalized banks in India.

4. Which is the largest public sector bank in India?

Currently, SBI is the largest public sector bank and the country’s biggest lender.

5. Which is the largest private sector bank in India?

The largest private sector bank in India as of March 2021 is the HDFC bank, with asset value of more than Rs 15 trillion.

6. Which bank is the safest bank in India?

SBI, HDFC, ICICI are the three largest banks in India that are considered as the safest bank in India as they have been declared too large by the RBI to fail.

7. How many types of banks are there in India?

There are two types of commercial banks in India, which are the scheduled commercial banks and non-scheduled commercial banks.

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