Best Private Banks in India 2022, HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, J&K Bank, IndusInd Bank, South Indian Bank, Federal Bank.
When it comes to opening a Bank account we all search for the best option to keep our hard-earned money safe. Bank has become a synonym for trust. As informed users, we must research for the best bank before opening a bank account. In India, there are lots of options available in the category of Bank. Today in this article we will talk about the top 10 private banks of India based on the number of accounts, total turnover, and most importantly customer satisfaction.
Table of Contents
Best Private Banks in India
There are 21 private banks operating in India as of 1st January 2022. The bank is the financial institution in which money-related services are provided to the user such as transaction of money, depositing cash, withdrawal of cash, sanctioning of loans, fixed deposits,s, etc. In India, all banks are regulated by the Reserve Bank of India. Here we are sharing the List of Best Private Banks in India based on the number of Bank Branches; Cities covered ATMs, as of March 2022
HDFC Best Private Banks in India
HDFC Bank was founded in the year 1994 by Hasmukh Thakordas Parekh. The Housing Development Finance Corporation (HDFC) starts operating as a commercial in January 1995. HDFC bank is India’s biggest and the best private bank. The registered head office of HDFC bank is in Mumbai
| Name of Bank | HDFC Bank |
| Head Office | Mumbai |
| Total Number of Branches | 6,378 branches |
| Total Number of ATMs | 18,620 ATMs |
| Number of the Cities Covered | 3,203 cities |
| Number of Share Holders | 13,49,591 shareholders |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
ICICI Bank Best Private Banks in India
ICICI Bank was incorporated in the year 1994 in Vadodara (Now Baroda) in Gujarat. The parent company of ICICI bank The Industrial Credit and Investment Corporation of India (ICICI) was founded by Sir Arcot Ramasamy Mudaliar. The registered head office of ICICI bank is in Baroda Gujarat.
| Name of Bank | ICICI Bank |
| Head Office | Baroda |
| Total Number of Branches | 5,418 branches |
| Total Number of ATMs | 13,383 ATMs |
| Total Consolidated Assets | Rs. 14.76 trillion (As of 30/09/2020) |
| Number of Share Holders | 13,49,591 shareholders |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
Axis Bank Best Private Banks in India
The Axis bank starts its operation on 2nd April 1994 as a UTI bank. The first branch of UTI bank (Now Axis Bank) was opened in Ahmedabad (Gujarat) and it was inaugurated by Mr. Manmohan Singh. The registered head office of Axis Bank is in Mumbai.
| Name of Bank | AXIS Bank |
| Head Office | Mumbai |
| Total Number of Branches | 4,758 branches (as of 31st March 2022) |
| Total Number of ATMs | 10,990 ATMs |
| Number of Cash Recycler | 5,972 cash recyclers |
| Balance Sheet | 11,75,178 crores( as of 31st March 2022) |
| Number of Axis Virtual Centers | 6 Axis Virtual Centers |
| Number of Virtual Relationship Managers | 1500 Virtual Relationship Manager |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
Kotak Mahindra Bank
Kotak Mahindra Bank was founded by Uday Kotak in the year 1985. Formally it was known as Kotak Capital Management Finance. In the year 1986 Anand Mahindra along with his father Harish Mahindra invested 1 lakh rupees in Kotak Capital Management Finance and from then it was known as Kotak Mahindra Bank. ING Vysya was acquired by Kotak Mahindra bank in the year 2015. The registered Head office of Kotak bank is in Mumbai.
| Name of Bank | Kotak Mahindra Bank |
| Head Office | Mumbai |
| Total Number of Branches | 1700 branches |
| Total Number of ATMs | 2705 ATMs |
| No of Location Covered | 812 Locations |
| Total Assets | 6,41,000 cr |
| Total Deposit | 3,04,474 cr |
| Total Shareholders | 32.7 mn |
| Total Full-Time Employees | 5,75,000+ |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
Yes Bank
Yes Bank was founded in the year 2004 by Rana Kapoor and his brother-in-law Ashok Kapoor. Reserve bank of India took control of YES bank on 5th March 2020, in order to save Yes Bank from collapsing because of the huge amount of bad loans. State Bank of India owns a 30% stake (as of July 2020) in Yes Bank. The registered head office of Yes Bank is in Mumbai.
| Name of Bank | Yes Bank |
| Head Office | Mumbai |
| Total Number of Branches | 1000 branches (as of 31st March 2022) |
| Total Number of ATMs | 1800 ATMs |
| Growth in Deposit | 5.9% |
| Growth in Balance Sheet | 11.6% |
| Net Interest Margin Stable | 2.8% |
| Current Account Savings Account Ratio | 30.2% |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
Federal Bank
Federal Bank was founded by K.P Hormis on 23 April 1931 as Travancore Federal Bank Nedumpuram, Thiruvalla in Kerala. On 2nd December 1949, it was renamed Federal Bank. The Federal Bank is listed on the Bombay Stock Exchange, National Stock Exchange, and London Stock Exchange. The registered head office of Federal Bank is in Aluva Cochin in Kerala.
| Name of Bank | Federal Bank |
| Head Office | Aluva, Kerala |
| Total Number of Banking Outlets | 1323 |
| Total Number of ATMs | 1355 ATMs |
| Number of Cash Recycler | 515 Cash Recycler |
| Number of Happy Customers | 12,713,226 Happy Customer |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
IndusInd Bank
IndusInd Bank started its operation in the year 1994. The indusInd bank founded by Srichand P Hinduja and by then Union Minister of India Manmohan Singh inaugurated the bank. The name of the IndusInd Bank is inspired by the Indus valley civilization. The IndusInd bank is a next-generation bank based on the 1993 RBI licensing guidelines for private banks. The registered headquarter of the IndusInd Bank is situated in Mumbai.
| Name of Bank | IndusInd Bank |
| Head Office | Mumbai |
| Total Number of Branches | 2015 branches |
| Total Number of ATMs | 2886 ATMs |
| Total Number of Distribution Points | 5000 Distribution Points |
| No of the Cities Covered | 3,203 cities |
| No of Customers | More than 2.5 Crore Customer |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
RBL Bank
RBL bank is formerly known as Ratnakar Bank. It was founded by Babgonda Bhujgonda Patil on 6th August 1943 as a regional bank of Maharashtra. Kolhapur and Sangli were the first two branches of Ratnakar Bank (Now RBL Bank). In the year 1970 Ratnakar bank received its banking license from the Reserve Bank of India. In the year 2014 Ratnakar bank changed its name to RBL Bank. The registered headquarter of RBL bank is in Mumbai.
| Name of Bank | RBL Bank |
| Head Office | Mumbai |
| Total Number of Branches | 502 branches (as of 31st March 2022) |
| Total Number of ATMs | 417 ATMs |
| Number of Business Correspondent Branches | 1302 Business Correspondent Branches |
| Number of Full-Time Employees | More than 5843 Employees |
| No of Customers | More than 11.3 Million Customers |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
J&K Bank- Jammu and Kashmir Bank
J&K Bank is one of the oldest private bank in India. It was incorporated on 1st October 1938 by the Hari Singh Maharaja and ruler of Jammu and Kashmir. In the year 1971 J&K bank received the status of the scheduled bank by the Reserve Bank of India. J&K Bank is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The registered head office of J&K bank is in Srinagar, Jammu & Kashmir.
| Name of Bank | J&K Bank |
| Head Office | Srinagar, Jammu & Kashmir |
| Total Number of Branches | 957 Branches (As of March 2021) |
| Total Number of ATMs | 1386 ATMs |
| Market Share in J&K | 64% of Banking Business in Jammu & Kashmir (As of March 2021) |
| Market Share in Ladakh | 60% of Banking Business in Ladakh (As of March 2021) |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
South Indian Bank
South Indian Bank is one of the oldest private banks in India. SIB was registered on 29th January 1929 in Thrissur, Kerala. On 17th June 1957, SIB became the scheduled bank under the banking regulation act 1949 of the Reserve bank of India. In April 1992, South Indian Bank became the first private bank to open a currency chest on the behalf of RBI. The registered headquarter of SIB is in Thrissur, Kerala.
| Name of Bank | South Indian Bank |
| Head Office | Thrissur, Kerala |
| Total Number of Branches | 926 branches |
| Total Number of ATMs | 1154 ATMs |
| Total Number of Cash Deposit machine | 118 CDMs and CRMS |
| Service Offered | Phone Banking, Net Banking, Mobile Banking, and SMS based banking, Fixed Deposit |
Conclusion
We have provided the details of the Top 10 private banks of India as per the data provided by the official website of the respected banks. We hope you get the details of the private banks of India. If your want to open your account in a private bank, we request you to research the status of the bank personally before opening your account