After getting acquainted yourself with the top 10 nationalized banks in India, now it’s time to know about the top 10 private banks in India. First of all, know about what is a private bank. Unlike a nationalized bank, in a private bank, the majority of shares are not held by the government. Instead, they are owned by private entities shareholders. Here are some of the top private banks in India.
ICICI Bank
When it comes to the number one private sector bank of India in terms of total assets, the name of ICICI Bank comes atop. Apart from that, in terms of assets and market capitalization, ICICI Bank is the second-largest private sector bank in the country. What makes ICICI Bank one of the best banks in India is its large network of branches across the country. ICICI Bank is also known to be one of the Big Four Banks of India with banks like State Bank of India, Punjab National Bank and Bank of Baroda based on total assets and market capitalizations. A wide range of products such as fixed deposits, savings & current accounts, Loans, Credit Cards makes this bank one of the best banks in the country. Check out the CICI Banking products below.
Credit Cards: ICICI Bank provides amazing credit cards loaded with exquisite features like reward points, cashback offers, and savings on various categories like shopping, movies, dining, etc. You can choose from several credit cards and have an unforgettable experience of using them. There are ample benefits on using ICICI bank credit cards in categories like travel and lifestyle. Some of the most popular ones are Coral, Sapphire, Rubyx, HPCL credit card, MakeMyTrip Credit cards.
Home Loan: Looking for a loan option to buy your dream home? ICICI home loan option will be the most suitable one for you because of the affordability and convenience it provides. You can easily repay the loan via the EMI option within the repayment period. You can also use the ICICI Bank EMI Calculator to have an estimate about the EMI amount before opting for the loan.
Vehicle Loan: With the help of ICICI Car loan, you can buy both new and pre-used car at an affordable rate of interest. The loan amount that you will get can be upto 100% of the road price of the vehicle for a repayment period of 7 years.
Insurance Services: ICICI Bank also provides a variety of insurance services such as Life Insurance, Car Insurance, Travel Insurance, Health Insurance, etc. You can secure a lot of things with the help of such amazing insurance services.
HDFC Bank
The tagline of HDFC Bank reads – ‘We Understand your World’ and it fully proves these lines by the body of work it possesses. Being the largest private bank in the country in terms of total assets and market capitalization, HDFC Bank is one of the top-performing and best private banks in India. When we talk about brand value, it is within the 100 Most valuable Global Brands across the world. Have a glance at some of the banking products HDFC Bank provides.
Educational Loan: If you are in search of funds for your child’s education, apply for an HDFC education loan. You can get a loan upto INR 7.5 lakh without any collateral. Also, you can get an exciting rate of interest while taking the loan for admission in top-ranked colleges and universities.
Home Loan: With an option to choose between the fixed and floating rate of interest, the HDFC home loan can be the best option for you as it also gives you the loan approval even before selecting the property. Available at an affordable rate of interest, this home loan can turn your dream into reality.
Credit Cards: You can enjoy unmatched privileges with a wide range of HDFC credit cards. You can choose which card will be best for you from various credit cards according to the spendings you make. There is one for everyone – Whether you’re looking for a lifestyle card or travel, entertainment or shopping or reward or a cashback card. There is also an exclusive credit card for women named Women Credit Card.
Loan Against Assets: If you’re in a sudden need for funds, you can always opt for a loan against assets schemes. Some of them are loan against credit cards, loan against property, loan against car, loan against securities.
Axis Bank
Axis Bank is the third-largest private sector bank of our country. One of the reasons that makes Axis Bank one of the best private banks in India is the largest number of ATM networks across the country After ICICI and HDFC Bank, if there is one bank that is the most preferred bank among the customers, it is Axis Bank. You can apply for several banking products here. Some of their most preferred products are in categories like home loans, retail banking, corporate banking, mortgage loans, wealth management, etc.
Loan Schemes: Axis Bank provides amazing loan schemes to its customers at an affordable interest rate and in a hassle-free manner. Some of their top loan schemes are Home Loan, Personal Loan, Gold Loan, Loan against Securities/Property, Education Loan, Vehicle Loan, Holiday Loan, Business Loan, etc. You can choose from them according to your financial needs.
Card Services: People don’t like to carry cash with them all the time. Times are changing, now everyone wants that piece of plastic in their wallet. Keeping this in mind, there is a range of Axis Bank cards at your disposal – Credit cards, Debit Cards, Prepaid Cards, Transit Cards, Commercial credit and debit cards, etc.
Insurance Schemes: It doesn’t matter which Insurance category you’re seeking. Axis Bank has got the finest range of insurance services that can help you in securing your future as well as durables depending on what kind of insurance you’re taking. Some of the insurance schemes are Life Insurance, Health Insurance, Travel Insurance, Pradhan Mantri Suraksha Beema Yojna, etc.
IDBI Bank
Established initially for the purpose of boosting the industrial sector of our country, IDBI Bank has become one of the premier private banks of our country. With services like loans, deposits & accounts, payment services and investment solutions, IDBI Bank provides easy access and quick solution to people faced with all kinds of financial problems. With a core vision of having the most preferred and trusted banking solution for the customers, IDBI Bank comes among the top private banks of the country.
Savings and Current Account: With an exquisite range of saving and current accounts at your disposal, you can put your hard-earned money in these accounts. Some of them are Super Savings account, Super Shakti (Women) Account, Being Me Account, Power Kidz Account, Flexi Current Account, etc.
Loan Products: IDBI Bank provides all kinds of loans to choose from – whether you’re looking for a home loan or a car loan or education loan or personal loan for your sudden financial needs. You can get your hands on one of the most competitive interest rates available in the market. You can choose to pay them later via Equated monthly installments (EMI).
Credit Cards: Looking for a card that could complement your spending habits as well as give you amazing rewards and cashback offers? Then, you can surely choose from a wide gamut of credit cards according to your preferences and spending behavior. Some of them are Royale Signature, Euphoria World, Winnings Credit card, etc.
Yes Bank
Being ranked as one of the fastest-growing and top banks in India, Yes bank has been doing a wonderful job of providing a range of amazing banking services since 2004. It has been striving towards the mission of being the finest quality large bank of India and seeing its growth over the years, it will surely reach its goal.
Vehicle Loan: Whether you want to buy a four-wheeler or two-wheeler, you can always opt for a car or bike loan from Yes Bank at an affordable interest rate with easy repayment options. With features like faster processing and easy documentation, this could be the perfect choice for you. Also, Yes bank promises a 2-day service guarantee on its car loan scheme.
Housing Loan: Yes Bank can help you in turning your long-due dream of owning a home into reality with its amazing home loan facility. With interest rates ranging from 9.85% to 12% per annum, this home loan facility by Yes Bank can be a suitable choice for you. You can get the loan amount for a maximum of INR 5 crores.
Credit Card: Loaded with amazing reward points options, secured transactions, faster processing, cashback offers and seamless bill payment, a credit card from Yes Bank can be the right choice for your wallet. Some of the Yes bank credit cards are Prosperity Edge, Rewards, Rewards Cashback, etc. You can also get a credit card against a fixed deposit.
Kotak Mahindra Bank
Kotak Mahindra Bank has emerged as one of the top banks in India after its acquisition of ING Vysya Bank in 2015. Since its inception in 1985 when it started as Kotak Mahindra Finance Ltd cut to the present day as a full-fledged private bank, it has succeeded in building an amazing brand out of its name with amazing products. You can choose a product exclusively for you from the range of services provided by Kotak Mahindra Bank. Some of them are personal finance, wealth management, investment banking, general insurance, life insurance, etc. Below you can see detailed information about some of them.
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Accounts and Deposits: Kotak Mahindra Bank provides some exceptional accounts & deposits services to the customers in which they can put their hard-earned money. Some of them are Fixed Deposit (FD), Tax Saving FD, Senior Citizen FD, Recurring Deposit, Corporate Salary Accountants, Retail Institutional Accounts, etc. You can also use the Kotak Mahindra Fixed Deposit Calculator to know the amount you can get after a certain period.
Card Services: Want to have an amazing piece of plastic in your wallet that can give you lots of rewards, cashback, and preloaded money while traveling abroad? You can opt from forex cards/prepaid cards, debit cards and credit cards of the bank. Some of the Kotak Mahindra credit cards are PVR Gold, League Platinum, Aqua Gold, Urbane Gold, etc.
Loan Facilities: Kotak Mahindra lets you avail funds for a variety of requirements whether you want to buy a home or the latest piece of gadget or even a car. The loan can be granted at an affordable rate of interest and with easy repayment facilities at their disposal.
IndusInd Bank
Do you know that one of the top banks in India – IndusInd Bank’s name draws its name and inspiration from Indus Valley Civilization which is one of the greatest ancient cultures in the world? Well, now you know this fact and you must be understanding the facts behind the excellence of IndusInd Bank. With the promise of being an amazing business and banking partner to its clients, IndusInd Bank provides a range of services that help in fulfilling its promises. The services includes Loans, Deposits, Accounts, Insurance, Investments, etc. You can have a peek at some of them below.
Investments: If you want to invest your money into something to get some lucrative return or a regular fixed income then, you can invest in one of the many investment schemes provided by IndusInd Bank. Some of the schemes are Mutual Fund investment, National Pension Scheme (NPS), Sovereign Gold Bond, ASBA, etc.
Accounts and Deposits: Want to open a normal savings account or salary account or fixed/recurring deposits? You can choose from several IndusInd Bank accounts. Some of the schemes are IndusOnline savings account, Defence Salary accounts, Senior Citizen Schemes, Young Saver Deposits, Regular Recurring Deposit, etc.
Loans: Having short of money while buying a new or used four-wheeler or planning to buy a home? No matter what your purpose is, you can opt from a large pool of loan options such as home loan, personal loan, car loan, two-wheeler loan, used car loan. Without worrying about the hefty interest rate, you can apply for the loan options in an easy way.
Card Facilities: IndusInd Bank has a range of plastic cards that you can have in your wallets such as debit cards, credit cards, prepaid cards, forex cards, Duo cards, and commercial cards. You can meet all your needs with a variety of cards at your disposal.
Federal Bank
Having a tagline of ‘A Perfect Banking Partner’, Federal Bank certainly stays true to it by providing a slew of efficient and convenient banking solutions to the customers. Federal Bank was one of the many banks that made all their branches computerized as soon as the digital inception started to happen in our country. With its mission to be the most admired bank in the country, Federal Bank offers its customers a slew of services such as depository services, insurance services, internet banking, mobile banking, online bill payment, mutual fund products, insurance schemes, and many more.
Loan Products: One of the top banks in India – Federal Bank lets you avail of a number of loan products if you’re having any kind of difficulty regarding the funds. You can opt for an education loan if you want to fund your child’s education or a home loan if you want to turn your dream home into reality or a personal loan on having an urge to buy a new phone, and there are many more. You can opt for a car loan in case you’re planning to buy a brand new car. The options are endless.
Card Facilities: You’ll surely enjoy any of the plastic cards provided by the Federal Bank in your wallet because of the convenience they give to you. Some of the Federal Bank cards are debit cards, credit cards, contactless debit cards, Gift cards, Forex Cards, etc. You can even choose the EMI facility on your debit card.
Insurance and Investments: Federal Bank also provides a wide variety of insurance schemes such as Health Insurance, General Insurance, Life Insurance, etc. You can also invest in one of the mutual fund schemes provided by them. Apart from all this, you can also do online trading with the help of the Fed-e-Trade facility.
IDFC First Bank
When there are talks about the best banks in India, it’s almost impossible to not mention IDFC First Bank because of its range of exquisite banking products. Established in 2015, IDFC Bank was merged with Capital First, which is a retail asset franchise in 2018, and thus, IDFC First Bank was formed. Despite functioning from a short period, it never hindered in generating a huge user base of their own which counts to 70 lakh live customers for now. And the best thing about this is that among all the customers, 30 lakh customers are from rural areas. You can have a look at some of the products offered by the IDFC First Bank.
Savings Account: Whether you want to save for yourself or secure your child’s future by saving for them, you can opt for a savings account by IDFC First Bank. Some of the savings accounts are Senior Citizens Saving Account, Regular Savings Account, Corporate Salary Account, Vishesh Savings Account (With Rupay Platinum Debit Cards), Minor’s Savings account, etc.
Micro–Enterprise Loan: If you want to start a new small business in the rural areas, then you can take a micro-enterprise loan specially made for small rural entrepreneurs. You don’t need to present any kind of collateral. For loans upto INR 3 lakhs, you don’t even need any kind of income proof. This loan facility is also known as Vypaar Vridhi Loan.
JLG Loan for Women: In order to empower women, IDFC First Bank has designed Sakhi Shakti Loan so that they can opt for credit and savings solutions. Women borrowers can opt for this facility with a basic document as Aadhar Card.
Home Loan: Want to achieve your long-due dream of owning your home but short of funds? Don’t worry as you can opt for the IDFC First home loan at an affordable rate of interest with the minimal documentation process. Available to both salaried and self-employed individuals, this loan facility has made it possible to buy their home for many customers.
Investment Services: There are plenty of investment services provided by IDFC First Bank such as Mutual funds, Gold Bond, Online Trading, Demat Trading, and Investment-Linked Insurance. These are some of the amazing banking services provided by the bank that many customers opt for this facility to get returns on their money.
Jammu and Kashmir Bank
Considered to be the first private bank in India to emerge as the State-owned bank, Jammu and Kashmir Bank is one of the finest banks of India that serves as a Universal Bank in Jammu and Kashmir and as a specialized bank in the rest of the country. The products offered by this bank looks to cater to households, small and medium enterprises. The principal followed by the bank is the Socially Empowered Banking which clearly can be seen by the range of products it offers. Some of the prominent ones are loans, investment options, Term bank deposits, personal accounts, and credit card facilities. You can learn about some of them below.
Loans: The list of loan schemes provided by J&K bank is so long that it can be talked for hours. You just name the purpose. From a Laptop/PC Finance scheme to the Housing Loan scheme, Jammu and Kashmir cover everything. Some of the loan schemes are Saral Finance, Scooty Finance for Ladies, Smartphone Finance, Modular Kitchen Finance, Car Loan for new and pre-used cars. All these loans can opt at an affordable rate of interest.
Personal Accounts: If you want to open an account for yourself in the J&K Bank, then there are a number of options from which you can choose according to your needs. Suppose that you want to deposit your salary every month, then a General or Deluxe Salary account would be perfect for you. Whereas if you want to deposit the money for your family, then you can choose the Family Protection Savings Account. Other than these, there are Pension Account, Student Savings Account, etc.
Term Deposits: If you want to fix your amount for a fixed amount of time, then you can opt from various term deposit schemes provided by the Jammu and Kashmir Bank. Some of the schemes are Tax Saver Term Deposit scheme, Smart Saver Term Deposit scheme, Child-care Deposit scheme, Depositor’s Pension Scheme, etc.