TOP 10 BANKS IN INDIA | Branches, Coverage, Services Offered

Here is a list of the top 10 banks in India with details of their history, coverage, international presence and services offered
top 10 banks of India

Banking sector acts as the backbone of a nation’s economic stature. Especially countries like India, you can know the countries progress based on how mature and stable it’s banks are. Here is a review of the top 10 banks in India to know which is the best for you to bank with.

Banks are considered to be the safest place to keep your hard-earned money. Banks are kept under strict regulation in most countries. In India, RBI creates and maintains financial stability, and is also charged with regulating the country’s currency and credit systems. There are multiple banks in India but as an Indian citizen, it is important for you to know the top banks of India. Here I am going to take you through the top 10 banks in India along with their unique features and policies.

Top 10 banks in India

 The list will include all the classification and features which be best for the users.

1. State Bank of India (SBI)

sbi logo

State Bank of India (SBI), is the largest public sector bank in India. It is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra. Founded in 1806, the bank descends from the Bank Of Calcutta. 

SBI provides a range of banking products through a network of branches in India and overseas. It has 16 regional hubs and 57 zonal offices that are located in an important part of India. SBI has over 24,000 branches spread across India, reaching even the remote areas. Internationally, the bank has 191 overseas offices spread over 36 countries having the largest presence in foreign markets among Indian banks.

SBI offers a number of products and services such as savings account, credit cards, fixed deposits, personal loan, home loan, business loan, debit card, loan against property, car loan, gold loan, mudra loan, and more.

2. HDFC Bank

HDFC  bank logo

HDFC Bank is one of India’s leading private banks. It was among the first to receive approval from the RBI to set up a private sector bank in 1994. HDFC Bank has a network of 5,485 branches and 14,533 ATMs spread across 2,866 cities and towns.

Headquartered in Mumbai, Maharashtra, HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two-wheeler loans, personal loans, loans against property, consumer durable loan, lifestyle loan, and credit cards. It also has its own digital products called Payxapp and SmartBUY. 

HDFC Bank merged with Times Bank in February 2000. In 2008, CBoP was acquired by HDFC Bank. 

The wholesale business focuses on institutional customers like large corporates, Government bodies, Business banking, etc to provide services of working capital facilities, term lending, project finance, trade credit, etc. The Bank is well-positioned as a leader in various net-based B2C opportunities including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc.

3. Axis Bank

axis bank logo

Axis Bank Ltd. is an Indian private sector bank headquartered in Mumbai, Maharashtra. The bank was founded in December 1993 as UTI Bank. The bank had a network of 4,094 branches and extension counters and 12,922 ATMs. Axis Bank has the largest ATM network among private banks in India. 

The bank has 9 international offices with branches at Singapore, Hong Kong, Dubai, Shanghai, Colombo and representative offices at Dhaka, DUbai, Sharjah and Abu Dhabi, which focuse on corporate lending, trade finance, syndication, investment banking and liability businesses.

The bank offers lending services to individuals and small businesses, along with liability products, card services, Internet banking, ATM services. It aslo provides investment banking and trusteeship services through its owned subsidiaries. Axis Capital Limited provides investment banking services relating to equity captial markets, institutional stock brokering besides M&A advisory.

4. ICICI Bank

ICICI Bank logo

ICICI Bank is a leading private sector bank in India. The bank’s consolidated total assets stood at Rs.14.76 trillion as of September 30, 2020. It has currently a network of 5,288 branches and 15,158 ATMs across India. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. 

ICICI Bank is considered to be one of the Big Four banks of India along with SBI, HDFC and Axis. The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, HKong.

ICICI Bank offers products and services such as online money transfers, tracking services, current accounts, savings accounts,[38] time deposits, recurring deposits, mortgages, loans, automated lockers, credit cards, prepaid cards, debit cards and digital wallets called ICICI pockets.

ICICI bank launched ‘ICICIStack’ which provides online services such as payment options, digital accounts, instant car loans, insurance, investments, loans etc.

The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence in 17 countries.

5. Punjab National Bank

Pnb logo

Punjab National Bank is an Indian public sector bank headquartered in New Delhi, India. It is the second largest PSB in India after SBI, both in terms of business and its network. It was founded in ther 1894. The has over 180 million customers, 10,910 branches and 13,000+ ATMs post merger with United Bank of India and Orient Bank of Commerce from 1st April 2020.

PNB has a banking subsidiary in the UK (PNB International Bank, with seven branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai, and Kabul. It has representative offices in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway), and Sydney (Australia).

6. YES bank

yes bank logo

Yes Bank is an Indian private sector bank headquartered in Mumbai, India and was founded in 2004. It offers wide range of banking and financial products for corporate and retail customers through retail banking and asset management services. Yes Bank is owned by State Bank of India who has a 30% stake in the company as of 28 July 2020.

Yes Bank has interests in syndicated loans and corporate banking. It has three subsidiaries – Yes Bank, Yes Capital and Yes Asset Management Services.Yes Bank provides Unified Payments Interface (UPI) services for a number of major companies, such as Airtel, Cleartrip, RedBus, and PhonePe among others. In January 2020, it was responsible for handling 514 million UPI transactions out of the 1.31 billion made that month.

Yes Bank has equities listed on the Bombay Stock Exchange and the National Stock Exchange of India and has bonds listed on London stock exchange. 

7. Kotak Mahindra Bank

kotak mahindra bank logo

Kotak Mahindra Bank offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management.

As of February 2021, it is the third largest Indian private sector bank by market capitalization, with 1600 branches & 2519 ATMs. It is an Indian private sector bank headquartered in Mumbai, Maharashtra. In the year 2019, th bank generated a revenue of Rs 28,547.24 crores. 

8. Induslnd Bank

Induslnd bank logo

IndusInd Bank is a universal Bank with a widespread banking footprint with over 2.5 crore customers, over 5,000 distribution points and nearly 2,000 branches across India. This bank offers a wide array of products and services for individuals and corporates including microfinance, personal loans, personal and commercial vehicles loans, credit cards, SME loans.

Established in 1994 by Srichand P Hinduja, the name ‘IndusInd’ Bank was inspired by the Indus Valley Civilisation – one of the greatest cultural example of a combination of innovation with sound business and trade practices. 

9. Bank Of Baroda

bank of baroda logo

Bank of Baroda started in 1908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance.

The initiatives include setting up of specialized NRI Branches, Gen-Next Branches and Retail Loan Factories/ SME Loan Factories with an assembly line approach of processing loans for speedy disbursal of loans. 

10. Bank Of India

boi bank logo

Bank of India was founded on 7th September, 1906 by a group of eminent businessmen from Mumbai. The Bank was under private ownership and control till July 1969 when it was nationalized along with 13 other banks.

The Bank has over 5000 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 55 Zonal Offices and 8 NBG Offices. There are 60 branches/ offices and 5 Subsidaries and 1 joint venture abroad.

Currently, the Bank of India has overseas presence in 18 foreign countries spread over 5 continents – with 52 offices including 4 Subsidiaries, 1 Representative Office, and 1 Joint Venture, at key banking and financial centers such as Tokyo, Singapore, Hong Kong, London, Paris, and New York.

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Moumita D

Moumita is a finance savvy engineering grad who loves exploring and writing about all things finance and tech.

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