Are you looking for Best Banks in India 2020? Indian banking and financial sector is rapidly improving day by day. You can even see the changes and enhancements in our financial sector.
The banking and financial sector has become the backbone of Indian economy.
But whenever is the best debate of best banks in our country; you’ll surely consider the private sector banks. Yes, private sectors banks have taken an edge over the government banks due to their quality services and customer satisfaction.
We have researched well and prepared a list of all the best banks available in India. In 2019, there were various changes in terms of their services and capitalization.
In India, there are 20+ public and private sector banks, followed by 50+ foreign banks.
There are thousands of rural banks which are operated in remote villages and towns. You can even 4 to 5 in your area itself. Our following upcoming guide will surely help you to open a savings/current account in the best banks which fulfill your needs.
Here is the guide of best banks in India for students with their beneficial features.
List of Top 10 Best Banks in India 2020
1.Housing Development Finance Corporation Bank (HDFC)
HDFC is a well-reputed private bank of our country. One of the oldest banks introduced in 1994 always focuses on customer satisfaction. HDFC Bank is headquartered in Mumbai. In the current scenario, thousands of permanent employees are working with this bank for years.
With more than 12000+ ATMs and 4000+ branches, this bank is having the edge over other competitors in the market.
This bank offers quality services and also provides various kinds of loans at unbelievable interest rates. HDFC always gives a tough competition to ICICI.
Axis bank is the most popular bank in India. This bank came into existence in the year 1993 and started its operation from Ahmedabad and now widely spread across the country.
The Axis online banking is smooth enough where you’ll not feel like visiting the nearest branch.
As usual, there are still many pros and cons, but you can open a savings account without overthinking. With more than 3000 branches and 13000 ATMs, Axis has become the third-largest private bank in our country.
3.State Bank Of India (SBI)
SBI doesn’t need any introduction because it is the largest bank in India. It is headquartered in Mumbai and owned by our government. SBI is the oldest bank and serving its customers since 1806. This bank has been always into controversies but considered as one of the safest banks in our country.
The lower class individuals to upper-class professionals all are served by the SBI. This government-owned bank is making its mark in India and even in abroad countries.
SBI is a trustworthy name with ample of investment options. But SBI always lacks in customer satisfaction.
4.Punjab National Bank (PNB)
PNB is the one-stop solution for all your banking needs and investments. Customer satisfaction is their priority from the beginning. PNB is headquartered in Delhi, and it’s a financial service state-owned company.
The internet banking of PNB is satisfying and secure too. PNB was in trouble due to the controversies after Nirav Modi case. But, the things are settling down, and PNB has always maintained its reputation in the market.
5.Bank Of Baroda
Like PNB, Bank of Baroda is also a state-owned bank and financial service organization. Previously this bank was headquartered in Baroda, but recently it has changed to Vadodara.
In the late 1960s, this bank was authorized by our Indian government. Bank of Baroda is powered by more than 5000 branches and 10000 ATMs across the country.
ICICI has gained a huge popularity in the past couple of years. But as fame increased, the charges and penalties are worrying a middle-class individual. ICICI serves ample of financial services and loans for their customers.
This bank is ruling the banking sector of our country and even in abroad too. In the current scenario, ICICI has more than 8000 branches and 14000 ATMs across India. ICICC is enhancing its features and services for its customers.
ICICI is a big name when it comes to capitalization. Recently ICICI collaborated with Amazon India, and experienced a huge turnover is just a couple of months.
7.Industrial Development Bank of India Bank (IDBI)
IDBI is a big name after SBI when it comes to public sector banks. This bank is headquartered inMumbai and established in 1964.
IDBI offers a variety of loans and financial services, which is beneficial for their customers. This bank has made a mark in the Indian economy due to the Digital India campaign.
8.Kotak Mahindra Bank
Kotak Mahindra is considered as the most innovative and trusted private financial institution in India. As usual, this bank is also headquartered in Mumbai. With more than 1000 branches and 2000 ATMs, this bank is giving fierce competitions to the other competitors.
You can even experience the hassle-free banking and investment options in Kotak Mahindra. There are different types of savings accounts to fit the needs of every customer.
Canara is one of the oldest and largest public sector banks of India. Ammembal Subba Rao Pai is the founder of Canara bank. This bank is headquartered in Bangalore and offers a hassle-free experience to the customers.
Canara always maintained its reputation, and a middle-class individual can easily avail all the banking services. Though it’s a public sector bank, there were hardly any complaints about customer satisfaction and staff members.
You can enjoy all the investment and online banking options with just a few clicks.
10.Bank Of India (BOI)
Bank of India is one of the best-nationalized banks. BOI is a commercial bank established in 1906. This bank is headquartered in Mumbai since years. Online banking of BOI is like a cakewalk. Bank of India (BOI) has more than 5000 branches across the country. BOI is serving all the needs of Indian communities.
The above-mentioned list consists the best banks of India. Consequently, you can choose your bank and open account at the earliest according to your requirements.