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 according to the RBI:
List of Top 10 Private Banks in India
- HDFC Bank
- ICICI Bank
- Kotak Mahindra Bank
- YES Bank
- Federal Bank
- Induslnd Bank
- RBL Bank
- Karur Vysya Bank
- Bandhan Bank
Read More About the Private Banks in India
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. If you are looking for a job in this bank, competitive exam preparation is necessary.
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.
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.
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.
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.
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.
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. Federal Bank specializes in the fields of government banking institutions, private banking institutions, financial institutions, Corporate & Investment among
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.
Karur Vysya Bank
Athi Krishna Chettiar founded Karur Vysya Bank in 1916 and houses its headquarters in Tamil Nadu. It has 550 branches and over 7,500 employees around the country. Known for their meticulous customer service, this bank offers top-notch services when it comes to investment banking, commercial banking, retail banking etc.
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.
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.