In Indian economy Private bank is the most regulated sector and most of the citizens prefer private banks because these banks provide quality services to their customers. They generate more profit than most of the nationalized banks and thus these banks have great importance in countries national income. These banks are famous for quality based products and customer centric service. If you are hungry for the best private sector banks, then don’t miss to read this article. Here is a valuable list of top 10 best private banks India.
1. HDFC Bank
HDFC Bank or Housing Development Finance Corporation Limited is the number one bank in India according to the
market capital and is in 5th position according to assets
value. It is the first private bank in India that received RBI approval
to establish a bank. It has more than 3200 branches all over India and
12000+ ATM’s. At present the bank is dealing these services: FOREX
services, Loans, Insurance, Credit cards, Private Banking, Premium
Banking etc.2. ICICI Bank
According to the quantity of assets, ICICI Bank or the Industrial Credit and Investment Corporation of India is the 2nd
largest private bank that was formed in 1994. In 2014, the bank was
awarded with the best bank by Global Business Development. The bank has
current assets value is 99 billion USD and all over India it has 3540
branches and 11200 ATM’s. At present the bank is dealing these services:
Privilege Banking, NRI Accounts, Credit cards, Insurance, Loans, etc.3. Axis Bank
Formally known as UTI Bank, Axis bank is
also a leading private bank in India that is operating its service from
1994. It occupies 3rd position in Indian banking market.
This bank deals with the services like: customer and corporate banking,
insurance and finance, credit cards, mortgage loans, investment banking,
wealth management, credit cards etc.4. Kotak Mahindra Bank
Formally the bank was known as Kotak
Mahindra Finance Limited and was established in 1995 and got license to
run banking business in 2003. The bank is available not only in Metro
Cities but available also in Tier-2 cities. At present the bank is
dealing these services: NRI Banking, Privileged Banking, Insurance and
Finance, Wholesale Banking etc.5. Yes Bank
In the list of 10 top best banks, Yes bank occupies 6th
position. In January 2004, the bank was founded by Rana Kapoor and it’s
headquarter is in Mumbai. This is one of the fast growing private banks
in India with 500 branches in more than 350cities. In 2013 the bank was
awarded with Golden Peacock Award for its Corporate Social
Responsibility. At present the bank is dealing these services:
Commercial Banking, Corporate and Institutional Banking, Investment
Banking, Branch Banking etc.6. Federal Bank
This bank was founded in the year 1947
and was formally known as Travancore Federal Bank. The founder of this
bank is Mr. K P Hormis. The bank has more than 1000 branches all over
the country. From its first day of operation the bank is striving for
excellence in customer service. At present the bank is dealing these
services: Insurance and NRI Banking, Corporate Banking, Loans etc.7. Karur Vysya Bank
Karur Vysya Bank is also a well-known
figure in this top 10 best private bank list. The bank was founded by
M.A. Venkatarama Chettiar and Athi Krishna Chettiar in 1916. It’s
headquarter is in Karur, TamilNadu. This is also a scheduled commercial
bank in India that is famous for excellent customer service. Karur Vysya
Bank has more than 550 branches in 18 states.8. IndusInd Bank
The bank was founded in 1994 by Srichand
P. Hinduja. He was the Chairman of the Hinduja Group. It’s headquarter
is in Mumbai, Maharashtra. The name of the bank came from the name of
the Indus Valley Civilization. This bank is better known for retail
banking.9. J&K Bank
10. Bandhan Bank
It is an Indian banking and financial
services company. It’s headquarter is in Kolkata. Along with IDFC
Bandhan is also the newest private bank in India. Bandhan receives its
license from RBI in 2014 and started its operation in early 2015.
Now, People are more prone towards premium Banking rather than traditional banking.
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Best Private Sector Banks In India 2020