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Top 10 Largest Private Banks in India according to their features and services

High-net-worth people can use private banks for banking, savings, tax planning, and other financial services. There are 22 private sector banks and 12 public sector banks serving the country’s diverse community. This article has listed the Top 10 Private Banks in India according to their features and services. You Can also read about the Top 10 Banks in India.

Top 10 Private Banks in India

1. HDFC Bank

Housing Development and Finance Corporation Ltd., headquartered in Mumbai, was established in 1994. With revenue of Rs. 1.17 lakh crores and income of Rs. 21,078 crores in 2019, HDFC is Largest Private Sector Bank in India. The bank serves consumers throughout the country, offering a variety of services ranging from retail to wholesale banking, credit to debit cards, home loans to auto loans, and so on. HDFC now has 5,103 branches and 12,160 ATMs throughout the country, employing over 1 lakh employees.

Loans: HDFC Bank offers Home Loan, Education Loan, Personal Loan, Loan Against Property, Gold Loan, Loan on Credit Card, Loan Against Securities, Two Wheeler Loan, Three Wheeler Loan, Loan Against Car, Business Growth Loan, Pre-owned Car Loan, and so on.

Credit Cards: HDFC offers a variety of credit cards with a variety of benefits. Depending on your buying habits, you will figure out which card is right for you.

Deposits: The bank provides Fixed Deposit, Non-Withdrawal Deposits, Recurring Deposit, and My Passion Fund as deposit options. 

2. ICICI Bank

Industrial Credit and Investment Corporation of India is one of the most dependable private banks in India, offering a wide variety of services. The bank has combined reserves worth Rs. 12.50 trillion, with sales of Rs 73,913 crores and a net income of Rs.3,363 crores in 2019. ICICI Bank employs almost 85,000 employees throughout India, with 5,324 branches and 15,688 ATMs.  

Loans: ICICI Bank offers various loan facilities under the categories of Home Loan, Personal Loan, Car Loan, Loan Against Property, Consumer Finance, Gold Loan, Education Loan, Loan Against Securities, Pradhan Mantri Mudra Yojana, Commercial Business Loan, and Stand Up India Scheme.

Cards: The bank offers Travel Cards, Credit Cards, Commercial Cards, Debit Cards, Prepaid Cards, and Unifare Metro Cards.

Insurance: The bank has Life Insurance, Car Insurance, Travel Insurance, Health Insurance, and General Insurance services. 

3. Axis Bank

Axis Bank is a Mumbai-based bank that was established in 1993. With over 4,528 branches and 12,044 ATMs, the bank has managed to expand in India in such a short time. Axis Bank employs over 55,000 employees and has a turnover of Rs.41,409.25 crores and a net income of Rs.857.59 crores.

Loans:  Education Loans, Home Loans, Personal loans, Gold loans, loans against Securities, Vehicle Loans, and other loan schemes are among their most common.

Cards: Axis Bank offers a wide range of cards, including credit cards, debit cards, prepaid cards, commercial credit, transit cards, and more.

Insurance: Life insurance, travel insurance, health insurance, and the Pradhan Mantri Suraksha Beema Yojna are only a few of the insurance policies available. 

4. Kotak Mahindra Bank Ltd

Kotak Mahindra Bank has gained the distinction of being India’s largest private bank, with a revenue of Rs. 28,547.24 crores. The bank, which was established in 2003, now has over 1,600 branches and 2,519 ATMs across the country. The bank employs over 33,000 employees, which adds to its already illustrious history.

Loan: Consumer Finance, Home Loan, Home Improvement, Education Loan, Personal Loan, Car Loan, Gold Loan, Kotak Payday Loan, Loan Against Security, Home Loan Balance Transfer, and other lending items are all available through Kotak Mahinda Bank.

Cards: Credit Cards, Debit Cards, and Forex/Prepaid Cards are all available from the store.

Others: The bank also provides Payments, Investments, and NRI Banking services. 

5. Yes Bank

Yes Bank, headquartered in Mumbai, was established in 2004 to provide wealth management and retail banking services, as well as branch banking, investment banking, corporate finance, and SME banking services. Yes Bank, one of the country’s fastest-growing private banks, had a revenue of Rs. 25,419 crores in 2019. The bank has 1,000 locations around the country, as well as 1,800 ATMs. About 18,000 workers are working as a result of it.

Loans:  Home Loan, Car Loan, Yes Khushi Affordable Home Loan, Gold Loan, Personal Loan, Loan Against Securities, Loan Against Property, Two-Wheeler Loan, MSME Loans, Business Loan, Commercial Loans, and other loan products.

Cards:   Credit Cards, MCTC Card, Debit Cards, and Prepaid Cards.

Accounts:  Salary Accounts, Savings Account, and Current Accounts. 

6. Federal Bank

The current Federal Bank is headquartered in Kochi, Kerala, and was established in 1931 as Travancore Federal Bank. Federal Bank has 1,696 branches and 1,516 ATMs throughout the country, offering a variety of services such as insurance, personal banking, corporate banking, retail banking, NRI banking, and loans. In 2018, the bank made a profit of Rs. 10,911.98 crores and employed over 12,000 employees.

Loans:  Personal Loans, SME Business Loans, Car Loans, Agri Loans, Gold Loans, Property Loans, Housing Loans, Education Loans, and other loan products.

Cards:  Credit Cards, Gift Cards, Debit Cards, Forex Card, Contactless Cards, and EMI on Debit Card.

Others:  Investment, NRI Banking, Online Trading, Business Banking, and other services. 

7. Induslnd Bank

IndusInd Bank is a Mumbai-based bank that was founded in 1994. There are 1,558 branches and 2,453 ATMs in the bank. The bank has a strong presence in all of India’s major cities, as well as international offices in Dubai, Abu Dhabi, and London. The bank employs over 25,000 employees as a result of its extensive activities.

Loans:  Loans on Credit Card, Personal loans, Loan Against Property, Home Loans, Vehicle loans, Gold loans, Professional loans to Doctors, Loan Against Securities, Agri loans, and other loan products.

Cards:  Duo Card, Credit Card, Forex Card, Debit Card, and Prepaid Card.

Deposits: Senior Citizen Scheme, Fixed Deposit, Recurring Deposit, Young Saver Deposit, Sweep in/ Sweep Out, and Deposit Plus schemes. 

8. IDFC Bank

IDFC Bank was established in 1997 and received its NBFC license from the RBI in 1998. However, after launching as a universal bank in 2015, it announced the merger of NBFC Capital First and IDFC Bank, which is now known as IDFC First Bank.  

Savings Account:  Minor’s Savings account, Senior Citizens Saving Account, Regular Savings Account, Corporate Salary Account, Vishesh Savings Account, etc.

Investment: Mutual funds, Gold Bond Demat Trading, Online Trading, and Investment-Linked Insurance. 

9. J & K Bank

The Jammu and Kashmir Bank was established in 1938 and is headquartered in Srinagar. The bank has 1,038 branches and 1,340 ATMs in India. In 2017, the bank brought in Rs. 7,178.66 crores in revenue.

Cards:  Global Credit Card, Debit Card, and Prepaid Cards.

Insurance: The bank has both life and non-life insurance options. 

10. South Indian Bank

The South Indian Bank, headquartered in Thrissur, Kerala, is another prominent private bank in the country. The bank has 1,500 ATMs spread across 27 states and three union territories in India. The bank posted a revenue of Rs. 6,562 crores in 2017. 

Loans: Property Loans, Home Loans, Car loans, Gold Loans, Personal loans, Education Loans, Business Finance, and other loans.

Insurance: Life Insurance, General, Health Insurance, ECGC, and PM’s Social Security Schemes.

Accounts & Deposits: The bank offers Inoperative Accounts, Savings Account, Term Deposits, and Unclaimed Deposits.

Botton Line

Above are the Best Private Bank in India that are ranked according to their wonderful features and services. 

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