Top 10 Best Leading Banks In India
Hey everyone! Contributing to our list of top 10 series. Today’s blog is going to very informative and beneficial at the same time. Today in the article we are going to discuss the top 10 banks in India. This is going to be a fresh list of the current year, i.e., 2020. So be with me till the end to get complete and detailed information. Let us get started now.
Banks are indeed an essential part of our lives. All our hard-earned money is kept safe in the banks. Thanks not only help an individual, but they do play a vital role in the development of a country. For India, banks serve as a major source of income and economic growth and development. Banks provide agricultural loans, home loans, personal loans, commercial loans, and many other types of loans.
It helps the industries and entrepreneurs to establish themselves. According to the India Brand Equity Foundation, we have 21 private sector banks, 27 public sector banks, 56 rural regional banks, 49 foreign banks, and many other rural cooperative and municipal cooperative banks.
Before moving ahead, it is important to know what are the characteristics and features of a bank that makes it the best for its customers. So following are the few important characteristics of a bank:
- The bank should have an early accessible physical branch.
- There should be ATMs services available at all major and minor locations.
- Good customer service.
- Easy and smooth online banking facilities should be there.
- Mobile banking should also be available to its customers.
- Zero or very low minimum balance maintenance criteria.
- Free utility bill payment services.
- Beneficial interest rates for the savings and current accounts.
- Loans should be easily available to everyone.
Here is the list of Top 10 Best Leading Banks In India
|Bank Name||Visit Website|
|HDFC Bank Ltd.||Visit HDFC Bank|
|State Bank of India||Visit SBI Bank|
|Axis Bank Ltd.||Visit Axis Bank|
|ICICI Bank Ltd.||Visit Bank|
|Kotak Mahindra Bank Ltd.||Visit Bank|
|Yes, Bank Ltd.||Visit Yes Bank|
|Punjab National Bank||Visit PNB Bank|
|Bank of India||Visit BOI Bank|
|Indusind Bank Ltd.||Visit Indusind Bank Bank|
|Bank of Baroda||Visit BOB Bank|
This is my list of top 10 banks in India in the year 2020. India has made significant growth in the banking sector in the recent few years. The percentage of adult account holder population has increased from 53% to 80% in the year 2019. Not only this, among the total bank accounts open worldwide, but almost 55% of bank accounts were also opened in India. The digitalization of banks also made the whole process very easy and simple. Now anyone can easily manage their respective bank accounts directly from their mobile phones.
Moving further I will give you in-detail information about all these top Indian banks. So, let us move further.
1. HDFC Bank Ltd.
On top, I have HDFC Bank limited. HDFC is Housing Development Finance Corporation Limited, which is a Mumbai based company.
- HDFC Bank Ltd. had a total capitalization of more than 6,00,000 crores as per 2019 reports.
- It has about 5,103 physical branches all over India.
- There are more than 13000 ATMs.
- HDFC has more than 1,00,000 employees and they have great customer service.
- HDFC provides various banking services including retail banking and wholesale banking, along with personal banking services.
- The bank provides various loans such as personal loans, home loans, vehicle loans, lifestyle loan,s, and much more.
- HDFC has provided about 4.3 lakh POS terminals.
- The interest rate of the HDFC home loan is 8% and that of personal loans is 10.75%.
- HDFC also has its digital platforms like PayZapp and SmartBUY.
2. State Bank of India
State Bank of India is the most trusted and reported bank in India, whose headquarters are situated in Mumbai. It is the largest public sector bank.
- State Bank of India comes under the fortune 500 companies, which are renowned across the globe.
- State Bank of India has made the capital of more than 2,93,200 crores.
- It provides all personal banking services.
- You will find the branch offices in almost every city. More than 24000 branches are present in the country.
- There are above 59000 ATMs all over India.
- SBI does provide all the financial services including various types of loan facilities.
- You can enjoy seamless internet banking on your mobile phones itself.
- The interest in SBI home loan is 7.90% and on a personal loan is 10.50%.
- There are more than 2,57,000 employees at the various offices of the bank.
- It has distributed 6.08 lakh POS terminals.
3. Axis Bank Ltd
Next, we have Axis Bank Ltd. The bank is currently being sponsored by Deepika Padukone. It is one of the largest private sector banks in India.
- The bank has a total capital of 1,97,360.
- The bank mainly aims at providing financial services to startups, SMEs, businesses, and small firms.
- In 2019, Axis Bank generated a total revenue of 68,116 crores.
- Other than financial services, it does offer all the personal banking facilities.
- The online international banking makes the user experience good and reliable service.
- It had more than 4050 branches and above 11800 ATMs.
- Over 55,000 employees are working to provide a good customer experience.
- Also, the bank has about 4917 cash recyclers, which is a unique feature of it.
4. ICICI Bank Ltd
Next in the top 10 banks, we have ICICI Bank Ltd. ICICI has made a big name and fame, not only in India but across other countries also.
- ICICI is an abbreviation for Industrial Credit and Investment Corporation of India.
- It has a capital of more than 2,56,200 crores.
- It is an international bank with its branches in India, Oman, Bahrain, China, Hong Kong, South Africa, Sri Lanka, Qatar, Singapore, Malaysia, the USA, Dubai, and many other countries.
- ICICI provides personal banking as well as financial banking services for its customers.
- It has a fast and reliable internet banking services.
- The bank has 4882 branches in India with 15,101 ATMs.
- More than 84000 employees are working in the various sections of ICICI Bank.
- The interest rate of home loan is 8.35% and of personal loan is 11.25%.
5. Kotak Mahindra Bank Ltd.
Kotak Mahindra Bank Ltd is a subsidiary branch of the Mahindra group. It does own good market value.
- With an overall capital of more than 2,55,357 crores, Kotak Mahindra Bank has acquired a very good market in India.
- Kotak offers various facilities like personal banking, home loans, personal loan, commercial loan, and many others.
- With Kotak 811 account, one can open an account online with a virtual debit card.
- Keya is a virtual assistant of Kotak online banking, which provides you with all the support and help.
- Reliable online and mobile banking services.
- There are more than 1390 physical branches of the bank all over India.
- Over 2100 ATMs are established.
- It has an employee base of more than 33000.
6. Yes, Bank Ltd
One of the prominent banks in the private banking sector in India is Yes bank ltd. It was started in the year 2004 and it has made tremendous growth in the subsequent years.
- With a total capital of more than 64,900 crores Yes Bank is moving ahead to lead the sector.
- There are more than 1122 physical branches of Yes bank in the country with 1220 ATMs.
- Yes, Bank ltd generated a heavy revenue of Rs. 25,419 in the year 2019.
- It aims at providing the best personal and financial banking services to its customers.
- 18000 + employees are working to provide the best services to the customers.
7. Punjab National Bank
Punjab National Bank is another addition to our list of top 10 banks in India. PNB is a very popular public sector bank in India.
- PNB has a total capital of more than 37,400 crores.
- With more than 7000 branches and 10000 PNB has made a remarkable growth in the banking sector.
- It has branches overseas in Nepal, Kazakhstan, UK, and Bhutan.
- PNB has a customer base of 8 crores.
- Digital and mobile banking have made it very easy for customers.
- The bank offers all kinds of personal banking and financial banking services.
- The annual turnover of the bank is 58,800 crores.
8. Bank of India
One of the best banking firms from the public sector banks and hence placed in our list of top 10 banks in India. Bank of India’s headquarters is situated in Mumbai.
- BOI has a market capital of 28,464 crores with annual revenue of 46,268 crores in the year 2019.
- It has 5100 + Frances in India.
- Bank of India has 56 branches in overseas countries including Japan, Hong Kong, Uganda, South Africa, US, New Zealand, Kenya, Vietnam, etc.
- There are more than 48000 ATMs across the country.
- BOI’s internet banking has made transactions and banking needs a click away.
- The interest rate is very competitive.
9. Indusind Bank Ltd
Indusind Bank Ltd is giving a new way to banking. It is known as the bank of the new era.
- Indusind Bank has an international presence including countries like Abu Dhabi, Dubai, London, and India.
- It has branches in all the major cities of India. There are about more than 1558 branches across the country.
- The bank has opened above 2453 ATMs in all major cities.
- The bank provides personal banking as well as financial banking services.
- It has a competitive interest rate.
- The above 25000 employees are working to provide a better customer service experience.
10. Bank of Baroda
At last, I have Bank of Baroda on my list of top 10 banks of India. Bank of Baroda is also a public sector bank.
- The market capital of BoB is more than 35,260 crores.
- Bob had established more than 9544 branches all over India along with 13400 ATMs.
- Over 85000 employees are serving customers.
- It provides different kinds of loans and other necessary banking services.
- The bank has a good customer base of more than 12 crores.
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So, this was the list guys. These are the top 10 banks in India and it is a fresh list of the current year 2020. Banks contribute a lot to the development of our economy. Opening a bank account in these top 10 private and public sector banks world adds on to the growth of our country. Hope you liked the article.