Wanna have your own bank account? But not sure which bank is best? well, having a bank account is important and most of all it is a need for any youngster, but as we have so many options, this is very hard to choose the best one among all. here, the question arises what are the best banks bank in India anyway?
Choosing the right bank for you can be a daunting task. With so many options on the market, it’s hard to know which is best for your needs. That’s why we have created this list of the top 10 banks in India based on performance, service, and trustworthiness. so, without any further ado let’s get started.
Top 10 Best Banks in India
1. HDFC Bank
HDFC Bank is one of India’s leading private sector banks. Founded in 1994, it has grown rapidly since. The bank has an estimated 5500 branches in the country and more than 3,000 ATMs across the country. HDFC Bank offers a variety of services to its customers including current accounts, gold and current accounts, savings accounts, fixed deposits, international banking facilities, and loans amongst others. In 2021 it posted a profit of $1.1 billion, which was an increase of 27% from the previous year. The bank also launched a new private bank in February 2021 in partnership with the Reserve Bank of India (RBI) under the HDFC brand.
Features
- Great savings: HDFC Bank has an array of current and savings accounts to suit your needs. If you are looking for a high-interest account with no obligation to deposit a certain amount, the bank’s Flexi Savings account is the one for you.
- Great business banking: HDFC Bank offers a variety of products and services for small businesses such as salary accounts, cash credit, term loans, and invoice discounting.
- Great security: HDFC Bank is one of India’s leading banks with an impressive track record. It has a Net Promoter Score of 67%, which means its customers are very satisfied with the bank’s customer service.
2. ICICI Bank
One of India’s largest private sector banks, ICICI Bank is among the best banks in India with a broad range of products and services to suit all needs. Established in 1994, its current branch network has seen impressive growth from the opening 11 in 1995 to around 500 today. With over 5,288 branches in the country and more than 15,158 ATMs across India, it has a presence in almost every corner of the country. ICICI Bank serves millions of customers across the country. It offers a wide range of products and services including current accounts, savings accounts, fixed deposits, loans, and investments amongst others.
Features
- Great savings: ICICI Bank has an array of accounts to suit your needs. If you want a little more flexibility than most banks to offer, try out its FlexiPlan account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: ICICI Bank offers a variety of business banking products and services to help small businesses such as invoice discounting, invoice factoring, credit cards, overdraft facilities, and salary accounts.
- Great security: ICICI Bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 72%, which means its customers are very satisfied with the bank’s customer service.
3. SBI bank
Established in 1955, the State Bank of India is the country’s largest bank. In 2021, it posted a profit of $1.2 billion which was an increase of 1.5% from the previous year. This bank is also recognized as India’s leading bank by numerous financial magazines and publications. SBI has a presence in more than 16 countries across the globe and provides more than 20 million customers with financial products and services through its 22,219 branches and close to 62,617 ATMs.
SBI also provides the best offers on their international debit cards and credit cards, so it’s best if you are looking for a bank so that you can make an online purchase.
Features
- Great savings: SBI offers a variety of savings accounts that are great for different types of customers. There are No-frills accounts, regular savings accounts, and senior citizens savings accounts just to name a few.
- Great business banking: SBI offers a variety of business banking products and services to help small businesses such as salary accounts, overdraft facilities, cash credit facilities, term loans, and other services.
- Great security: SBI is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 62%, which means its customers are very satisfied with the bank’s customer service.
4. Axis bank
Axis Bank is one of the many private sector banks in India. It was established in 1993 and has seen impressive growth since its inception. Today, it has over 4,096 branches in the country and more than 12,922 ATMs across India. Axis Bank offers a variety of products and services such as current accounts, savings accounts, fixed deposits, investments, and loans. In 2021, its profit was $199.6 million which was an increase of 31% from the previous year. Axis Bank is also one of the few banks that are FDIs eligible with international banks and has seen a number of FDIs in recent years.
Features
- Great savings: Axis bank offers great savings products for different types of customers. If you are looking for great interest rates on a higher minimum balance, try out its Flexi Fixed Deposit account.
- Great business banking: Axis bank offers a variety of business banking products and services to help small businesses such as invoice discounting, cash credit facilities, overdraft facilities, and other services.
- Great security: Axis bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 66%, which means its customers are very satisfied with the bank’s customer service.
5. Kotak Mahindra Bank
Kotak Mahindra Bank is one of India’s leading private sector banks with a network of over 1,603 branches and more than 2,573 ATMs across the country. In 2021, it posted a profit of $1 billion, which was an increase of 16% from the previous year. Kotak Mahindra Bank offers a wide range of products and services including current accounts, savings accounts, fixed deposits, loans, and investments just to name a few.
Features
- Great savings: Kotak Mahindra Bank offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Kotak Mahindra Bank offers a variety of business banking products and services to help small businesses such as invoice discounting, invoice factoring, overdraft facilities, cash credit facilities, and other services.
- Great security: Kotak Mahindra Bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 62%, which means its customers are very satisfied with the bank’s customer service.
6. Punjab National Bank
Established in 1894 as a joint-stock company owned by the Government of Punjab, the Punjab National Bank is one of the oldest banks in India. In 2021, it posted a profit of $472 million which was an increase of 21% from the previous year. With a presence in more than 12 countries across Asia and Africa, the PNB offers financial services through its 4,500 branches and more than 5,200 ATMs.
Features
- Great savings: Punjab National Bank offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Punjab National Bank offers a variety of business banking products and services to help small businesses such as cash credit facilities, term loans, overdraft facilities, and other services.
- Great security: Punjab National Bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 66%, which means its customers are very satisfied with the bank’s customer service.
7. Union Bank of India
Union Bank of India is a Public Sector Undertaking (PSU) bank with a network that covers over 1,300 cities and towns in India. Founded in 1919, the Union Bank of India is one of the oldest banks in the country. In 2021, it recorded a profit of $172 million which was a 23% increase from the previous year. Union Bank has more than 13,000 branches and 12,500 ATMs across the country
Features
- Great savings: Union Bank offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Union Bank offers a variety of business banking products and services to help small businesses such as cash credit facilities, term loans, overdraft facilities, and other services.
- Great security: Union Bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 66%, which means its customers are very satisfied with the bank’s customer service.
8. Canara Bank
Canara Bank is a financial services conglomerate owned by the Government of Karnataka. The company was founded in 1906 and today has an extensive network of over 10491 branches with 12,973 ATMs across India. It has a Net Promoter Score of 64%, which means its customers are very satisfied with the bank’s customer service. It also receives an A+ rating from Fitch Ratings – one of only two PSU banks to do so.
Features
- Great savings: Canara Bank offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Canara Bank offers a variety of business banking products and services to help small businesses such as cash credit facilities, term loans, overdraft facilities, and other services.
- Great security: Canara Bank is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 66%, which means its customers are very satisfied with the bank’s customer service.
9. Bank of Baroda
One of the largest banks in India, Bank of Baroda is a Public Sector Undertaking (PSU) bank with a network that covers more than 1,400 cities and towns in India. Founded in 1908, the Bank of Baroda is one of the oldest banks in India. In 2021, it posted a profit of $1 billion which was a 9% increase from the previous year. Bank of Baroda offers financial services through its more than 8,214 branches and 10,033 ATMs across the country.
Features
- Great savings: Bank of Baroda offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Bank of Baroda offers a variety of business banking products and services to help small businesses such as cash credit facilities, term loans, overdraft facilities, and other services
- Great security: Bank of Baroda is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 72%, which means its customers are very satisfied with the bank’s customer service.
10. Bank of India
Bank of India is a Public Sector Undertaking (PSU) bank with a network that covers more than 850 cities and towns in India. Founded in 1906, the Bank of India is one of the oldest banks in India. In 2021, it posted a profit of $505 million which was a 49% increase from the previous year. Bank of India offers financial services through its more than 5,000+ branches and 2,700+ ATMs across the country.
Features
- Great savings: Bank of India offers a variety of savings accounts that are great for different types of customers. If you want a little more flexibility than most banks offer, try out its FlexiSaver account which allows you to transfer money in and out for free at any time during the month without being charged a fee.
- Great business banking: Bank of India offers a variety of business banking products and services to help small businesses such as cash credit facilities, term loans, overdraft facilities, and other services.
- Great security: Bank of India is one of India’s leading banks with trusted financial services. It has a Net Promoter Score of 50%, which means its customers are somewhat satisfied with the bank’s customer service.
Frequently Asked Questions (faqs)
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Which bank is best in India?
To answer this question you need to consider what features are important for you. If you want the flexibility of a savings account, then HDFC Bank or ICICI is your best option. If you do a lot of transactions each month, then ICICI is your best choice. However, if you want the best customer service from a bank, then the State Bank of India (SBI) is your best choice.
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How many branches do I get with my bank?
Very few customers have more than 6-10 branches in their city, and some customers even get only one branch (but they don’t mind this). So, you shouldn’t either. This really doesn’t matter that how many branches do you get in your city.
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Is it even worth considering all these?
Well, All banks that we have mentioned are best and we can assure you that because we personally researched each one of them, so it would be better for sure to go fro one of these instead of going to any bank which you don’t know anything about, so yes it is totally worth it considering all of these.
Conclusion
Choosing the best bank could be really difficult because we don’t know the all statics about any bank that is why we wrote this article now you know all the facts and features about each bank so you can easily decide which bank you should choose among all. We hope you liked this article.
We hope you found what you were looking at at the starting of the post, do not forget to share this post with your family and friends who are struggling to choose a bank for their account in India. Do tell us which bank you liked the most and which one you picked in the comment section. If you have any queries related to this post feel free to ask them in the comment section we will surely reach to you.