Top 10 Indian Banks 2023: Government and Private Banks

Top 10 Indian Bank. Do you want to know about the best Indian Bank? then this post is for you. Here, we are going to list some best government-authorized banks in India. So, to know about every bank, keep reading this article till the end.

Nowadays, every person needs a bank account to manage their finances. All the financial benefits provided by the government can be obtained only through a bank account. So, every citizen should have a bank account in Indian Bank.

Banks play a big role in the development of every country. The top 10 banks in India have a market share of almost 70 per cent. These banks provide loans to poor people and entrepreneurs to help them financially. Currently, there are almost 12 public sector banks and 21 private sector banks working in India.

Some of the most popular banks in India are SBI, Axis Bank, HDFC Bank, etc. In this guide, we are sharing information about the top 10 Indian banks that provide the best banking services to their customers. Let’s take a look at the best bank in India.

Highlights of Top 10 Banks in India

Article Name	Top 10 Indian Banks in Banking Services
Service Name	Largest Banks in India
Objective	To provide information about the best Banks in India
Number of Banks	10
Established Year	1806 to 2004

Top 10 Banks in India 2023

Below is the list of the top 10 Indian banks in 2023 which is government authorized. This list of the largest Indian banks is based on factors like the number of branches, employees, ATMs, annual revenue, and assets.

State Bank of India
HDFC Bank
Punjab National Bank
ICICI Bank
Kotak Mahindra Bank
Axis Bank
Union Bank of India
IndusInd Bank
Bank of Baroda
Bank of India

List of Top 10 Largest Banks in India

We have created a list of the largest Indian banks that have been working for a long time and providing better banking services to customers.

1. State Bank of India

State Bank of India is the largest bank in India which has a market share of about 23% in the country. The headquarters of SBI is situated in the financial capital of India Mumbai, Maharashtra. It is the largest public sector bank which has been working for 200 years by establishing heritage, legacy, and trust among the Indian people.

SBI is ranked 221 in the Fortune Global 500 list of the year 2022 for the world’s biggest corporations. It has a large network of 250 offices across 22 countries all over the world. The multinational bank has a market capitalization of Rs. 5 trillion as of 2022.

SBI offers services like credit cards, savings accounts, debit cards, property loans, home loans, car loans, gold loans, fixed deposits, etc. It is now serving more than 45 crore customers all over the world.

The largest public sector Indian bank has other subsidiaries like SBI Life Insurance, SBI Mutual Fund, SBI General Insurance, SBI Credit Card, etc.

Let’s check some facts about SBI:

Type of Bank	Public Sector Company
Industry	Banking, Financial Services
Established Year	1955
Headquarters	Mumbai, India
Chairperson	Dinesh Kumar Khara
Branches	25,000
ATMs	59,000
BC Point	67,000
No. of Employees	2,50,000
Market Cap	Rs. 5 trillion

Bank Products	Interest Rates
SBI Home Loan	9.15% to 9.65%
SBI Personal Loan	11%

SBI Toll-Free number: 1800 425 3800

2. HDFC Bank

HDFC Bank is the largest private-sector Indian Bank based on assets and market capitalization. The bank is headquartered in the city of Mumbai. As per the World’s Best Bank Survey, Housing Development Finance Corporation Ltd. is ranked as the no. 1 private sector bank in India and the world’s 10th largest bank.

The bank was established in 1994, and as of 2022, it has a market capitalization of Rs. 9 trillion. It has a large network of 6,000 office branches, 17,000 ATMs, and 98,500 employees in across 2800 cities in India. HDFC Bank provides different kinds of products and services such as Personal banking, retail banking, wholesale banking, personal loans, home loans, credit cards, debit cards, treasury, etc.

In addition to products, it also provides loans through digital products named PayZapp and SmartBUY. Customers can easily do HDFC Bank transactions through Phone Banking, Mobile banking, and Net banking.

Let’s check some facts about HDFC Bank:

Type of Bank	Private Company
Industry	Financial Services
Established Year	1994
Headquarters	Mumbai, India
Chairperson	Atanu Chakraborty
Branches	5,800
ATMs	17,000
BC Point	5,000
No. of Employees	99,000
Market Cap	Rs. 9 trillion

Bank Products	Interest Rates
HDFC Home Loan	8.50% to 9.00%
HDFC Personal Loan	10.50%

HDFC Bank Toll-free number: 1800 202 6161

3. Punjab National Bank

Punjab National Bank is the second largest public sector bank which is owned by the Ministry of Finance. The bank was founded in 1895 and has a global business of around Rs. 18,50,000 crore as of 2022.

Punjab National Bank also known as PNB has a large network of 11,000 branches, 14,000 ATMs and 12,500 business correspondents across PAN India. This bank has a presence in foreign cities, in Hong Kong and Dubai. PNB also has 6 subsidiaries in the UK and 10 in Bhutan.

It has a huge base of 180 million customers which makes it a leading bank in India. Along with the long journey of Punjab National Bank, almost 9 banks have been merged into it.

This Indian bank is constantly working on providing easy banking services to customers through net banking and mobile banking. As of now, it has 97 lakh mobile banking users and 260 lakh internet banking users. As of 2022, PNB has a market capitalization of Rs. 630.43 billion.

Let’s check some facts about Punjab National Bank:

Type of Bank	Public Sector
Industry	Banking and Financial Services
Established Year	1895
Headquarters	New Delhi, India
Chairperson	Atul Kumar Goel
Branches	11,000
ATMs	14,000
BC Point	6,000
No. of Employees	110,000
Market Cap	Rs. 630.43 billion

Bank Products	Interest Rates
PNB Home Loan	8.60% to 9.45%
PNB Personal Loan	11.40%

PNB Toll-Free number: 1800 180 2222

4. ICICI Bank

ICICI Bank was established in 1994 in the city of Vadodara. The headquarters of the Industrial Credit and Investment Corporation of India is situated in Mumbai. It has a market capitalization of Rs. 6 trillion as per data of 2022 which makes ICICI a leading private sector bank in India.

The objective of establishing ICICI Bank was to provide mid-term and long-term financing to Indian industries. In 1991, this Indian bank boosted its business as a financial and banking services provider. After some years, in 1999, ICICI Bank was the only non-Japanese Asian bank that got listed on the New York Stock Exchange.

ICICI Bank has an overseas presence in foreign countries like Canada and UK. In addition, it also has branches in the United States of America, China, Hong Kong, Sri Lanka, South Africa, Singapore, Bahrain, Qatar, etc. This private bank has a wide network of 5,500 branches, 16,000 ATMs, and 98,000 employees across the country.

Let’s check some facts about ICICI Bank:

Bank Type	Private Sector
Industry	Banking and Financial Sector
Established Year	1994
Headquarters	Mumbai, India
Chairperson	Girish Chandra
Branches	5,500
ATMs	16,000
BC Point	6,700
No. of Employees	98,000
Market Cap	Rs. 6 trillion

Bank Products	Interest Rates
ICICI Home Loan	9% to 10.05%
ICICI Personal Loan	10.75%

ICICI Bank toll-free number: 1860 120 7777

5. Kotak Mahindra Bank

Kotak Mahindra Bank is the most trusted and popular private sector bank in India. The bank was launched in 2003 and now has a large network of 1700 branches, 2600 ATMs, and 24 million customers.

This Indian bank has a market capitalization of Rs. 4 trillion as of 2022 which makes it the 5th top Indian bank. In the previous year, Kotak Bank generated a business of Rs. 60,000 crores. The bank achieved 245th position in Brand Finance Banking 500 in the year 2014.

The headquarters of Kotak Mahindra Bank is situated in the city of Mumbai. This bank offers different kinds of banking services for corporate and retail customers which include life insurance, investment banking, personal finance, wealth management, etc. Apart from India, Kotak Mahindra Bank has a presence also in foreign cities and countries like London, the USA, the Middle East, and Singapore.

Let’s check some facts about Kotak Mahindra Bank:

Bank Type	Private Sector
Industry	Banking and Financial Services
Established Year	2003
Headquarters	Mumbai, India
Chairperson	Prakash Apte
Branches	1700
ATMs	2600
BC Point	5,500
No. of Employees	24 million
Market Cap	Rs. 4 trillion

Bank Products	Interest Rates
Kotak Home Loan	8.85% to 9.40%
Kotak Personal Loan	10.99%

Kotak Mahindra Bank toll-free number: 1860 266 2666

6. Axis Bank

Axis Bank is also one of the largest private sector banks in India which was established in the year 1994. This bank provides banking services for all customer segments like retail banking, retail business, large and mid-cap corporates, and agriculture.

It is the third largest private sector bank in terms of market capitalization and assets. The bank has a market capitalization of Rs. 2,00,000 crore. Previously this Indian bank started with the name UTI bank which was changed to Axis Bank in the year 2007.

Axis Bank currently has Deepika Padukone, the Bollywood actress who is working as the bank ambassador. The headquarters of this bank is situated in Mumbai. It has a wide network of 4,600 branches, 11,400 ATMs, and 5,800 cash recyclers across the country. Currently, more than 78,000 employees work for Axis Bank.

Let’s check some facts about Axis Bank:

Bank Type	Private Sector Company
Industry	Banking and Financial Services
Established Year	1993
Headquarters	Mumbai, India
Chairperson	Amitabh Chaudhary
Branches	4,600
ATMs	11,400
BC Point	5,000
No. of Employees	78,000
Market Cap	Rs. 2 trillion

Bank Products	Interest Rates
Axis Home Loan	8.60% to 9.05%
Axis Personal Loan	10.49%

Axis Bank toll-free number: 1800 419 5555

7. Union Bank of India

Union Bank of India is the 7th largest and 3rd public sector bank of India. The bank was established in 1919 and is headquartered in the city of Mumbai, India. This Indian bank is also referred to as Union Bank or UBI in which the Government of India holds an 89.07% share.

In the year 2020, Andhra Bank and Corporation Bank merged with Union Bank of India which makes it the largest public sector bank in India, and implemented a 100% core banking solution. After merging, this bank has a business of Rs. 15,35,000 crore as of 2020.

Union Bank has its overseas appearance in Dubai, Sydney, and Hong Kong. It has a large network of 9600 branches, 13,500 ATMs, and 12,000 BC outlets all over India. Currently, 76,000 employees work for Union Bank and provide banking services to more than 120 million customers.

Let’s check some facts about the Union Bank of India:

Bank Type	Public Sector
Industry	Banking and Financial Services
Established Year	1919
Headquarters	Mumbai, India
Chairperson	Srinivasan Varadarajan
Branches	9,600
ATMs	13,500
BC Point	4,500
No. of Employees	75,500
Market Cap	Rs. 15 trillion

Union Bank of India toll-free number: 1800 22 2244

8. IndusInd Bank

IndusInd Bank is the leading private sector bank in India. This bank was established in 1994 and headquartered in Mumbai. This Indian bank is considered as the new generation private bank with most of the branches situated in Delhi, Mumbai, and Chennai.

The IndusInd bank has overseas branches in Abu Dhabi, Dubai, and London. The bank provides financial products and services to customers all over the country. As of 2022, it has a business revenue of around Rs. 39,000 crores.

The bank has a huge network of 2,100 branches, 2,700 ATMs, 5,500 distribution points, and more than 3 crore customers. The IndusInd bank has a market capitalization of around Rs. 9 billion which makes it to the 8th position in our list of top 10 Indian Banks.

Let’s check some facts about IndusInd Bank:

Bank Type	Private Sector
Industry	Banking and Financial Services
Established Year	1994
Headquarters	Mumbai, India
Chairperson	Arun Tiwari
Branches	2,100
ATMs	2,700
BC Point	4,000
No. of Employees	34,000
Market Cap	Rs. 9 billion

IndusInd Bank Toll-free number: 1860 267 7777

9. Bank of Baroda

Bank of Baroda got 9th place in our list of top 10 Indian banks. This bank is a leading private bank of India which was established in 1908 and headquartered in Vadodara, Gujarat. It has a market capitalization of Rs. 932 billion. The bank has 9,600 branches, 13,100 ATMs, and over 80,000 employees all over the country.

In 2019, the Bank of Baroda gained popularity for the first-ever 3-way merger with Vijaya Bank and Dena Bank. It has a global presence across 19 countries. This Indian bank provides a wide range of products and services such as deposits, cards, loans, banking services, insurance, and wealth management.

Bank of Baroda founded by Maharaja Sayajirao Gaekwad III of Baroda State. It has overseas branches in other countries like Uganda, New Zealand, Guyana, Botswana, Tanzania, Guyana, the UK, Zambia, and Malaysia. Currently, the Bank of Baroda provides services to more than 140 million customers.

Let’s check some facts about the Bank of Baroda:

Bank Type	Public Sector
Industry	Banking and Financial Services
Established Year	1908
Headquarters	Vadodara, India
Chairperson	Hasmukh Adhia
Branches	9,600
ATMs	13,100
BC Point	3,500
No. of Employees	80,000
Market Cap	Rs. 932 billion

Bank Products	Interest Rates
BoB Home Loan	9.15% to 10.60%
BoB Personal Loan	10.90%

Bank of Baroda toll-free number: 1800 102 4455

10. Bank of India

Last but not least, the Bank of India is also a leading public sector Indian Bank which was nationalized in 1969. It was established in the year 1906 and headquartered in the city of Mumbai. Now, this bank has branches outside the country as well.

It is also known as BOI which has a market capitalization of Rs. 360 billion as of Jan 2023. In the year 2022, this bank generated a business revenue of Rs. 50,000 crores. Although, the Bank of India is a founding member of SWIFT. Bank of India has a large network of 5900 branches, 6,100 ATMs, and 52,000 employees across India.

Top 10 Indian Banks in Banking Services

The bank has an overseas presence across 7 continents of the world. It has overseas branches in countries like New Zealand, France, Singapore, South Africa, Vietnam, the UK, Uganda, the United States, Hong Kong, Japan, and Vietnam. Bank of India was the first Indian bank to establish fully computerized bank and ATM services in the year 1989.

Let’s check some facts about the Bank of India:

Bank Type	Public Sector
Industry	Banking and Financial Services
Established Year	1906
Headquarters	Mumbai, India
Chairperson	Atanu Kumar Das
Branches	5,900
ATMs	6,100
BC Point	4,000
No. of Employees	52,000
Market Cap	Rs. 360 billion

Bank Products	Interest Rates
BOI Home Loan	8.60% to 10.60%
BOI Personal Loan	10.35%

Some Other Largest Indian Bank

Yes Bank

Yes, Bank is one of the top Indian banks with the 4th rank in highest leap globally. It is the fastest-growing private-sector Indian Bank which has a market capitalization of Rs. 550 billion. The bank was established in 2004 and is headquartered in Mumbai, Maharashtra.

Yes, the Bank has a huge network of 3,500 branches, 1900 ATMs, and over 24,000 employees as of 2022. This bank was promoted and established by Rana Kapoor and Ashok Vaswani. It provides retail banking and other financial services to customers. According to a 2022 report, the bank has gained a business revenue of more than Rs. 25,000 crores.

Let’s check some facts about Yes Bank:

Bank Type	Private Sector
Industry	Banking and Financial Services
Established Year	2004
Headquarters	Mumbai, India
Chairperson	Sunil Mehta
Branches	3,500
ATMs	1,900
BC Point	3,500
No. of Employees	24,000+
Market Cap	Rs. 550 billion

Bank Products	Interest Rates
Yes Bank Home Loan	9.15% to 11.25%
Yes Bank Personal Loan	10.99%

Yes Bank toll-free number: 1800 103 1212

Canara Bank

Canara Bank is the third largest public sector Indian Bank which is owned by the Government of India. This bank was established in 1906 and headquartered in Bangalore City. In addition, it has an overseas presence in London, Dubai, Hong Kong, and New York.

This bank was first established under the name Canara Hindu Permanent Fund Ltd. which later changed to Canara Bank in 1910. Canara Bank has a wide network of 10,500 branches, 13,000 ATMs, and 11 crore customers.

It is the first public sector bank in India that launched an intercity ATM and issued credit cards to poor people and farmers. Canara Bank also got awards for introducing technology and amazing financial services.

Let’s Check some facts about Canara Bank:

Bank Type	Public Sector
Industry	Banking and Financial Services
Established Year	1906
Headquarters	Bangalore, India
Chairperson	Vijay Srirangam
Branches	9,720 branches
ATMs	10,745
BC Point	4,000
No. of Employees	86,919
Market Cap	Rs. 13 crore

Canara Bank toll-free number: 1800 425 0018

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Conclusion

Now you know about the top 10 Indian Banks in Banking Services. As we know, every person needs a bank account to save money for the future and control their expenses. So, if any person doesn’t have a bank account, then this guide will surely help him to know about the largest Indian Bank.

Opening a bank account in a top Indian bank helps customers to get better banking services and benefits from government schemes. Every bank introduces some amazing schemes and interest rates on the deposited money. If you don’t have any knowledge about the largest bank, then you will know about the top Indian banks with the help of this post.

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