Top 20
Top 20 Private Banks In India In 2022
The banking system in India is governed by the Reserve Bank of India (RBI), under the RBI Act, 1934. Thus, the Reserve Bank of India is the highest banking regulatory authority in India which was established by the RBI Act in the year 1934.
Banks in India are generally classified into various categories, such as public, private, regional, foreign, finance, payments, and cooperative banks, respectively. Their names are also self-explanatory. Though the functions of finance and payments banks are somewhat different than those of the other banking systems in the country.
Private banks in India have a large customer base since these types of banks offer a wide range of products and services to both individuals and business entities. A few popular banks operating in the private sector include ICICI, Axis, IDBI, HDFC, IndusInd, and several more. Also, the interest rates for their products and services vary when compared to the interest rates of public sector banks. While most people would opt for public sector banks, others may choose these private banks for their everyday banking and financial needs.
At present, there are about 21 privately-owned banks in India. We shall take a look at these private-sector banks and list all such banks that have been established in India.
List of 20 Private Sector Banks of India
The following is a list (in alphabetical order) of the top twenty private banks in India along with the number of branches and ATMs that are located throughout the country and overseas, as well.
1. Axis Bank
Head Office: Maharashtra
Branches in India: 4,594
Overseas Branches: 10
Total No. of ATMs (India): 12,920+
Total No. of ATMs (Overseas): 20+
Axis Bank was established in 1993 in Mumbai city and was called Unit Trust of India (UTI) Bank until 2007. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Axis Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
Axis Bank also operates a few subsidiaries, which include Axis Capital Ltd., Axis Securities Ltd., Axis Private Equity Ltd., Axis Mutual Fund, and more.
2. Bandhan Bank
Head Office: West Bengal
Branches in India: 5,639
Overseas Branches: None
Total No. of ATMs (India): 1,000+
Total No. of ATMs (Overseas): None
Bandhan Bank is not very old. The bank was established in 2015 in Kolkata. However, its operations are present in every state and union territory of India only. There are no offices, branches, or ATMs in other countries. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Bandhan Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
3. CSB Bank
Head Office: Kerala
Branches in India: 560
Overseas Branches: None
Total No. of ATMs (India): 390
Total No. of ATMs (Overseas): None
CSB Bank is one of India’s oldest operating private banks. The bank was established in 1920 in Thrissur in the state of Kerala. It was called Catholic Syrian Bank Limited during its initial operations and it mainly serves the southern regions of India. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
CSB Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
4. City Union Bank
Head Office: Tamil Nadu
Branches in India: 725
Overseas Branches: None
Total No. of ATMs (India): 1,760+
Total No. of ATMs (Overseas): None
City Union Bank is one of India’s oldest operating private banks. It was established in 1904 in Kumbakonam in the state of Tamil Nadu and was called the Kumbakonam Bank Limited before its name was changed to City Union Bank in 1987. The bank serves mainly in the southern states of India and does not have its operations in other countries. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
City Union Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
5. DCB Bank
Head Office: Maharashtra
Branches in India: 367
Overseas Branches: None
Total No. of ATMs (India): 50+
Total No. of ATMs (Overseas): None
DCB (Development Credit Bank) Bank is a privately-owned scheduled commercial bank with its presence in India only. The bank was established in 1930 in Mumbai, Maharashtra, and is among the oldest operating banks in India. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
DCB Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
6. Dhanlaxmi Bank
Head Office: Kerala
Branches in India: 245
Overseas Branches: None
Total No. of ATMs (India): 258
Total No. of ATMs (Overseas): None
Dhanlaxmi Bank is another of India’s oldest operating banks established in 1927 in Thrissur, Kerala. The privately-owned scheduled commercial bank’s operations are available in several states in India only. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Dhanlaxmi Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, and wealth management, asset management, etc.
7. Federal Bank Limited
Head Office: Kerala
Branches in India: 1,291
Overseas Branches: 10
Total No. of ATMs (India): 2,920+
Total No. of ATMs (Overseas): 20+
Although it is called the Federal Bank, it actually isn’t the nation’s federal bank, which of course, would be the RBI (Reserve Bank of India).
Federal Bank Limited has been in operation since its founding in 1931 in Aluva, Kochi, in the state of Kerala. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Federal Bank Limited provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
8. HDFC Bank
Head Office: Maharashtra
Branches in India: 5,608
Overseas Branches: None
Total No. of ATMs (India): 12,000+
Total No. of ATMs (Overseas): None
HDFC Bank was incorporated as a subsidiary of the Housing Development Finance Corporation in the year 1994, with its head office located in Mumbai, Maharashtra. Recently, in April 2022, HDFC Bank merged with HDFC Limited in order to expand its business operations in India. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
HDFC Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc. The bank also provides digital products namely, Payzapp and SmartBUY.
9. ICICI Bank
Head Office: Gujarat
Branches in India: 5,275
Overseas Branches: 26+
Total No. of ATMs (India): 15,589
Total No. of ATMs (Overseas): 50+
The form of ICICI Bank is ‘Industrial Credit and Investment Corporation of India’. The bank was established in Vadodara, Gujarat. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
ICICI Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
ICICI Bank also operates a few subsidiaries, which include ICICI Prudential, ICICI Lombard, ICICI Securities, ICICI Direct, and several others.
10. IDBI Bank Limited
Head Office: Maharashtra
Branches in India: 1,884
Overseas Branches: None
Total No. of ATMs (India): 400+
Total No. of ATMs (Overseas): None
IDBI Bank used to be called the Industrial Development Bank of India until its name was changed to IDBI. It is a subsidiary of the Life Insurance Corporation (LIC) which mainly provides financial and banking services to consumers and corporates. The bank was founded in 1964 in Mumbai, Maharashtra. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
IDBI Bank Limited provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
11. IDFC First Bank
Head Office: Maharashtra
Branches in India: 600+
Overseas Branches: None
Total No. of ATMs (India): 100+
Total No. of ATMs (Overseas): None
IDFC First Bank was founded a few years ago in 2015 in Mumbai, Maharashtra. IDFC Bank is the first in India to launch an Aadhaar-linked cashless merchant solution. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
IDFC Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
12. IndusInd Bank
Head Office: Maharashtra
Branches in India: 2,015
Overseas Branches: 15+
Total No. of ATMs (India): 2,800+
Total No. of ATMs (Overseas): 80+
IndusInd Bank was founded in 1994 in Mumbai. The Bank also has representative offices in London, Dubai, and Abu Dhabi. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
IndusInd Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, asset management, etc.
13. Jammu & Kashmir Bank
Head Office: Jammu & Kashmir
Branches in India: 1,038
Overseas Branches: None
Total No. of ATMs (India): 1,388
Total No. of ATMs (Overseas): None
Jammu & Kashmir Bank is sometimes, also referred to as J&K Bank. The bank was founded in 1938 in Srinagar by Maharaja Hari Singh. J&K Bank is the scheduled commercial and also the oldest private sector bank in India. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Jammu & Kashmir Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, and risk management, wealth management, asset management, etc.
14. Karnataka Bank Limited
Head Office: Karnataka
Branches in India: 888
Overseas Branches: None
Total No. of ATMs (India): 952
Total No. of ATMs (Overseas): None
Karnataka Bank Limited is among the oldest operating private banks in India. The bank was founded in 1924 in Mangaluru (now called Mangalore). It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Karnataka Bank Limited provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, and wealth management, asset management, etc. The bank has also an Internet banking service that runs a 24-hour and is called as MoneyClick.
15. Karur Vysya Bank Limited
Head Office: Tamil Nadu
Branches in India: 811
Overseas Branches: None
Total No. of ATMs (India): 1,780+
Total No. of ATMs (Overseas): None
Karur Vysya Bank Limited was founded in 1916 in Karur, Tamil Nadu. The bank has expanded out of Karur and it is established approximately 668 branches in other States and Union Territories in order to gain a pan-India presence. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Karur Vysya Bank Limited provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, and wealth management, asset management, etc.
16. Kotak Mahindra Bank
Head Office: Maharashtra
Branches in India: 1,604
Overseas Branches: None
Total No. of ATMs (India): 2,519+
Total No. of ATMs (Overseas): None
Kotak Mahindra Bank was founded in 2003 in Mumbai. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Kotak Mahindra Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, and wealth management, asset management, etc. Kotak Mahindra Bank also operates a few subsidiaries, which include Kotak Mahindra General Insurance, Kotak Life Insurance, Kotak Mutual Fund, Kotak Securities, Kotak Mahindra Prime Limited, Airtel Payments Bank, and many more.
17. Nainital Bank
Head Office: Uttarakhand
Branches in India: 162
Overseas Branches: None
Total No. of ATMs (India): 20+
Total No. of ATMs (Overseas): None
Nainital Bank was founded in 1922 in Nainital, in the Kumaon region of northern India (which now is located in the state of Uttarakhand). The bank is a wholly-owned subsidiary of Bank of Baroda, a public sector bank. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Nainital Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
18. RBL Bank
Head Office: Maharashtra
Branches in India: 435
Overseas Branches: None
Total No. of ATMs (India): 394+
Total No. of ATMs (Overseas): None
RBL Bank was founded as Ratnakar Bank in 1943 in Mumbai. The bank. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
RBL Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc. The RBL Bank has also partnered with MoneyTap to launch India’s first personal credit line-based app.
19. South Indian Bank
Head Office: Kerala
Branches in India: 935
Overseas Branches: None
Total No. of ATMs (India): 1,500+
Total No. of ATMs (Overseas): None
South Indian Bank was founded in 1929 in Thrissur, Kerala. The bank is one of the oldest operating banks in India. It offers banking and financial services to consumers, retail businesses, as well as to small, medium, and large companies in India. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
South Indian Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, and asset management, etc.
20. Tamilnad Mercantile Bank Limited
Head Office: Tamil Nadu
Branches in India: 509
Overseas Branches: 12+
Total No. of ATMs (India): 1,151+
Total No. of ATMs (Overseas): 20+
And, finally on this list of the top private banks in India is the Tamilnad Mercantile Bank.
Tamilnad Mercantile Bank Limited was founded in 1921 in Thoothukudi, Tamil Nadu. The bank was called Nadar Bank Limited during its early years of establishment in the country. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Tamilnad Mercantile Bank Limited provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, and risk management, wealth management, asset management, etc. Tamilnad Mercantile Bank was the first private sector bank in India to introduce computerization for branch-level operations.
Bonus:
Since there are a total of 21 private banks in India, we wanted to include that one on this list as well.
21. Yes Bank
Head Office: Maharashtra
Branches in India: 1,070
Overseas Branches: 50+
Total No. of ATMs (India): 1,800+
Total No. of ATMs (Overseas): 18+
Yes Bank was founded in 2004 in Mumbai, Maharashtra. It offers banking and financial services to consumers, retail businesses, as well as small, medium, and large companies in India and across. Its branches and ATMs are located in various urban, semi-urban, and rural regions of the country.
Yes Bank provides products and services such as banking, digital banking, mobile banking, debit/credit cards, commodities, equities trading, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, asset management, etc. In October 2017, Yes Bank launched a digital wallet payment system known as Yes Pay, which could be integrated with the BHIM and UPI payment systems of SBI (State Bank of India).
Conclusion
These are the top private banks in India that provide all kinds of banking and financial products and services to consumers across the country, and some even across.
