List of Top 10 Private Banks in India: Today, in this blog post, we will share the top 10 private banks in India. As Indian economy is the largest economy in the world not only by high population but also by economic variance. In India, there are 21 private sector banks and 12 public sector banks and Reserve Bank of India (RBI) is central authority bank that manages all banking operations in India.
What is private sector bank?
Private sector banks are the banks that are run by individuals or by private companies. Thus banks follows all the rules and regulations set by the central bank. These all banks are listed in the stock market, where any single individual can buy some part of shares from the stock market. Thus, private banks build their own financial strategy for customers’ welfare and also takes financial decisions quickly according to changing market conditions.
Advantages of Private Sector Bank
- Thus banks offers quick services to customers
- Customized services according to customers need
- High Investment returns
- High Security & Privacy
List of Top 10 Private Banks in India 2021
|Sr. No||Name of the Bank||Establishment||Headquarter|
|1||Kotak Mahindra Bank||2003||Mumbai, Maharashtra|
|2||HDFC Bank||1994||Mumbai, Maharashtra|
|3||IndusInd Bank||1994||Pune, Maharashtra|
|4||Axis Bank||1993||Mumbai, Maharashtra|
|5||ICICI Bank||1994||Mumbai, Maharashtra|
|6||IDBI Bank||1964||Mumbai, Maharashtra|
|7||Yes Bank||2004||Mumbai, Maharashtra|
|8||J&K Bank||1938||Srinagar, Jammu and Kashmir|
|9||IDFC First Bank||2015||Mumbai, Maharashtra|
|10||Federal Bank||1931||Aluva, Kochi|
Private Sector Banks list 2021
1) Kotak Mahindra Bank
Kotak Mahindra Bank is one of the fastest-growing private sector bank in India. The Bank was founded in the year 2003 by Uday Kotak, and the Bank headquarter is located in Mumbai, Maharashtra, India.
The Kotak Bank provides services related to finances and banking products to their corporate and retail customers like investment, personal finance, wealth management, life insurance. In 2021, Kotak Mahindra Bank ranked third in the largest private sector bank by its market capitalization.
The Kotak Mahindra Bank owns 1600 branches and 2519 ATMs. If we talk about the subsidiaries of Kotak Mahindra Bank are Kotak Mahindra Prime, Kotak Mahindra Investments, Kotak Securities, Kotak Mahindra Capital, Kotak Mahindra Life Insurance, Kotak Mahindra General Insurance, Kotak AMC, Kotak Investment Advisors. The official website of Kotak Mahindra Bank is www.kotak.com
2) HDFC Bank
HDFC Bank is the largest private sector bank in India by its market capitalization and assets. The HDFC bank was incorporated in the year 1994, and headquarter of the company is located in Mumbai, Maharashtra, India. HDFC Bank was the first who receive consent to set up a private sector bank from RBI.
HDFC Bank provides several products and services, including personal loans, auto loans, two-wheeler loans, loans against property, wholesale banking, retail banking, treasury, credit card facility, and some digital products are SmartBUY, Payzapp. According to the financial year, 2020 HDFC Bank had over 14 thousand ATMs.
In 2020 HDFC bank received a Euromoney Awards as India’s best bank. The official website of HDFC Bank Bank is www.hdfcbank.com
Also Read: Best Bank Account for Startups in India 2021
3) IndusInd Bank
IndusInd Bank is a new-generation private sector bank in India. IndusInd Bank was founded in 1994 by S. P. Hinduja and inaugurated by then Union Finance Minister Manmohan Singh. The headquarter of the company is located in Pune, Maharashtra.
According to 2018, IndusInd Bank had 1,558 branches and 2,453 ATMs across the country. The IndusInd Bank also has its representative offices in London, Dubai, and Abu Dhabi.
IndusInd Bank offers various products and services to its customers. It includes Credit cards, Consumer banking, Corporate Banking, Finance and Insurance, Mortgage loans, Private banking, Wealth Management, Investment banking.
In 2018 IndusInd Bank has been awarded with International Banker Awards i.e. Best Commercial Bank of the Year, India and
Best Innovation in Retail Banking, India. The official website of IndusInd Bank Bank is www.indusind.com
4) Axis Bank
Axis Bank is the next most extensive private sector bank in India. The Axis Bank was incorporated in the year 1993, and the headquarter of the company is located in Mumbai, Maharashtra.
Axis Bank offers various financial services to large and mid-size companies, SMEs, corporate banking, and retail businesses.
Axis Bank has nine international offices with branches in Dubai, Hong Kong, Singapore, Shanghai, Colombo. The bank also has its representative office at Dhaka, Dubai, Sharjah, and Abu Dhabi and a wholly-owned subsidiary in the UK. The official website of Axis Bank Bank is www.axisbank.com
5) ICICI Bank
ICICI Bank is also one of the fastest-growing private sector bank in India. ICICI Bank was incorporated in the year 1994, and the bank’s registered office is in Vadodara, Gujarat, and the corporate office is in Mumbai, Maharashtra.ICICI Bank has almost 5,275 branches and 15,000 plus ATMs across the country, and the bank has a presence in 17 countries.
ICICI Bank offers various banking products and financial services for corporate and retail customers. It includes asset management, investment banking, non-life insurance, venture capital, online money transfers, time deposits, recurring deposits, loans, debit, and credit cards, and digital wallets called ICICI pockets. The official website of ICICI Bank Bank is www.icicibank.com
6) IDBI Bank
IDBI Bank is one of the largest private bank in India, which was incorporated in the year 1964 and the headquarter of the bank is located in Mumbai, Maharashtra. IDBI Bank stands for Industrial Development Bank of India.
IDBI Bank has 1150 branches with 2000 ATMs across the country. The bank offers a wide range of products and services, which includes investment banking, Consumer Banking, Commercial Banking, Retail Banking, Asset Management, Pensions, Mortgages, Credit Cards.
In 2013 IDBI Bank ranked #1197 in the Forbes Global 2000, and in 2011 IDBI Bank received the ‘Overall Best Bank’ and ‘Best Public Sector Bank’ awards in the Dun & Bradstreet Banking Awards. The official website of IDBI Bank is www.idbiintech.com
7) Yes Bank
Yes Bank is the fastest-growing private sector bank in India, founded in 2004 by Rana Kapoor and Ashok Kapur. The headquarter of the Bank is located in Mumbai, Maharashtra. The Bank has a pan-India presence across 28 states and nine Union Territories in India, including IBU at GIFT City and a representative office in Abu Dhabi.
Yes Bank offers various services and products, which include credit cards, Consumer banking, Corporate Banking, Finance and insurance, Mortgage loans, Private banking, Wealth Management, Investment banking. The official website of Yes Bank is www.yesbank.in
8) J&K Bank
J&K Bank is the largest private sector bank in India which was incorporated in the year 1938, and the headquarter of the bank is located in Srinagar, Jammu, and Kashmir, India.J&K Bank functions as a universal bank in Jammu and Kashmir while in the rest of India as a specialised bank.
J&K Bank offers various products and services like Consumer banking, corporate banking, finance and insurance, mortgage loans, private banking, wealth management, investment banking. The official website of J&K Bank is www.jkbank.com
9) IDFC First Bank
IDFC FIRST Bank is the next top private sector bank in India which was incorporated in the year 2015, and the headquarter of the company is located in Mumbai, Maharashtra.
In the year 2015, IDFC FRIST Bank received a universal banking license from RBI, and the bank is also listed on BSE and NSE.
IDFC FRIST Bank offers a wide range of services and products. It includes Consumer banking Home loans, Loans against property, Personal loans, Consumer Durable loans, Vehicle loans, Business loans, Micro-Enterprise loans, Private banking, Wealth Management, Investment banking, Corporate Banking, Wholesale banking. The official website of IDFC First Bank is www.idfcfirstbank.com
10) Federal Bank
Federal Bank is the fastest-growing private sector bank in India, which was incorporated in 1931 by K. P. Hormis. The headquarter of the company is located in Aluva, Kochi, Kerala, India. The federal Bank has 1,200 plus branches across the different states in India; along with this, Bank also has its representative office abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.
Federal Bank is also listed in BSE, NSE, and London Stock Exchange and has a branch in India’s first International Financial Services Centre(IFSC) at GIFT City. Federal Bank is the Lead Sponsor of NorthEast United FC in the 2019–2020 season of the Indian Super League.
The Bank offers various services and product which includes Retail Banking, Wholesale Banking, Finance and Insurance, Mortgage loans, Wealth management, Investment banking, Credit cards, Debit cards.
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Which is the leading Private Bank of India?
HDFC Bank is the largest private sector bank in India by its market capitalization and assets.
How many Private Banks in India?
In India there are 21 private banks