The Indian economy is one of the world’s largest economies. Along with an exceptionally high population, people’s economic variance also makes the economy more vivid. Thankfully, a strong banking structure has been established in the country to ensure and facilitate the smooth running of the economy. Today, having a bank account has become an utmost essential for the Indian population. A network of Public and Private sector banks makes it possible for the country. While there are many options available, choosing the right bank according to one’s needs is crucial. Therefore, here’s everything you need to know about India's top 5 private sector banks.
ICICI Bank
ICICI Bank tops the list in terms of total assets. The extensive network of branches across the country makes ICICI the second-largest private sector bank. Additionally, it has been made to India's Big Four Top Banks list. With approximately 5288 branches across the country, the bank generates employment for 85,000 people.
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ICICI Bank is renowned for a host of services such as Fixed deposits, savings & current accounts, Loans, Credit Cards, and more. Let’s get into the details of some of ICICI Bank’s top products.
- Credit Cards: ICICI Bank credit cards are loaded with impressive features such as cashback, rewards, and savings applicable across various categories.
- Loans: The bank offers various loan facilities covering personal, home, car, education, commercial, consumer finance, and more loans.
- Insurance Services: ICICI Bank caters to varied needs by offering Health, car, travel, and general insurance services. Additionally, the bank also provides Investments, Tax solutions, Rural finance, and more. The service from ICICI Bank is speedy and hassle-free.
HDFC Bank
Coming to the largest private sector bank in India, HDFC was established back in 1944 and is headquartered in Mumbai. It is one of the country’s top-performing banks in terms of market capitalization and total assets. The bank serves millions of customers across India and has also made its name internationally, falling in the list of 100 Most valuable Global Brands across the world.
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The extensive list of services and products from HDFC include:
- Loans: HDFC fully proves its tagline, “We understand your world”, and offers services for a Car loan, two and three-wheeler loans, education loans, gold loans, business growth loans, personal loans, property loans, and more.
- Cards: Owning an HDFC card is not considered less than a privilege. One can enjoy several unmatched benefits under the bank’s wide range, including Prepaid cards, Millenia cards, Forex cards, and commercial credit cards.
- Deposits: HDFC bank caters to its customers with services for Fixed deposits, recurring deposits, My passion fund, and Non-withdraw deposits.
Along with multiple types of Accounts, HDFC Bank also offers facilities such as Mutual funds, Safe deposit lockers, Bill payments, NRI Banking facilities, SME and agricultural banking facilities, etc.
Axis Bank
Speaking of the third-largest bank in India, Axis Bank is one of the best banks in the country with the most number of ATM networks. Established in 1993, the bank has established a nationwide presence today.
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With approximately 4528 branches in India, the bank offers services such as:
- Loans: Various loan facilities from Axis Bank include Personal, Car, Home, Holiday, Education, Gold, Property, Business, Commercial, Construction, Two-wheeler loan, and ore.
- Cards: Axis bank offers a range of cards at the disposal of their customers, including Debit cards, credit cards, Commercial Credit and Debit cards, Transit cards, and Prepaid cards.
- Deposits: Under the range of attractive deposits, Axis Bank offers products such as Fixed Deposits, Recurring Deposits, Auto Fixed Deposits, Tax Saver Deposits, and more.
- Insurance: Axis Bank offers multiple insurance facilities for home, motor, travel, health, and two-wheeler insurance.
IDBI Bank
IDBI Bank was initially established to boost the country’s industrial sector. However, IDBI has progressed tremendously over the years and is one of the country's most prestigious private sector banks. Offering a range of services, IDBI has earned a prestigious name.
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- Loan Products: IDBI Bank caters to all kinds of requirements and provides a variety of loans to choose from. The category includes home, car, personal, and education loans. IDBI customers can avail one of the most competitive interest rates.
- Credit Cards: IDBI Credit cards compliment your spending habits and facilitate amazing cashback and rewards. Depending on their preferences, customers can choose from Euphoria World, Winnings, and Royal Signature cards.
- Savings and Current Accounts: IDBI Bank goes one step beyond the ordinary and offers a varied range of accounts for customers such as Super Savings account, Being Me Account, Power Kidz Account, Super Shakti Account Flexi Account, and more.
YES Bank
Established in 2004, YES Bank is renowned for being one of India’s fastest-growing banks and helps customers say yes to infinite possibilities. Having done a wonderful job over the years, YES bank has continuously been striving to serve its customers in the best possible manner. It was also among the first banks in the country to offer all banking products in the digital space.
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Yes, Bank’s services include:
- Loans: Offering a plethora of loan options at affordable rates, Yes Bank offers facilities for Personal, car, home, property, business, gold, commercial, MSME loan, and other products.
- Cards: Loaded with secured transactions, hassle-free processes, and amazing rewards, Yes Bank offers Credit Cards, Debit Cards, Prepaid Cards, and MCTC Cards for its customers.
- Other facilities: Along with various accounts, deposits, and insurance services, Yes Bank also offers Safety Deposit Lockers, Government Schemes, NRI Banking, Corporate Banking, Digital Banking, Wealth Management services, and more.
