Top Private Banks in India
When looking for the best bank in which to save your money, access loans, and other services, India has some of the popular and most preferred Indian Banks. There are a number of banks that appear among the list of top 10 private banks in India. The rating of these banks depends on whether it has been ISO certified, regulated by the central government and whether these banks have been champions of excellence since their launch. Here are a number of banks that we can consider as top private banks in India.
The HDFC Bank tops the list
For most locals, this is one of the banks they have always heard or seen being advertised. It has appeared as a top private bank in India basically because of two main reasons. The first reason is that HDFC Bank was the first bank to receive the RBI approval. This approval offered by the financial regulatory authorities in India. It was after the receipt of this approval that this bank was established into a fully-fledged bank. Being the first bank to receive approval, most people have found themselves trusting it and its services.
The ICICI Bank is the second in the list
This is another financial institution that you will not miss to see its services being advertised in India. It has always maintained its position in the top 10 private sector banks in India. The main reason why it has maintained this position, as well as status, is that has a huge customer base. The large customer base is because it serves a variety of customers. This ICICI bank does not discriminate customers based on the size of their assets and wealth. In fact, you can actually save you money from as little as $10 and still receive premium services. Secondly, this particular bank has maintained its position as one of the best private banks in India because it offers international banking solutions, hosts various accounts, offer credit cards services, loan offering and ensures again various risks.
Axis Bank maintains the third position as the largest private sector bank in India
The Axis bank also the third largest private bank in India and it regarded as such because it has invested so much in wealth management. This is one of the services or mandate that has made it different from the more than 200 hundred private banks in India. Wealth management is not simply running accounts and providing safe custody of customers’ money. Wealth management entails administering properties, a collection of rent, providing safe custody of valuable metals such as gold and diamonds.
The axis bank has also appeared as one of the best private banks in India given that it has gone against the odds to provide rural agricultural banking. Even with the fact that most banks have been avoiding to finance rural subsistence agriculture, the Axis bank has invested much of its finances and services in that field. This is what has made it stand out among other private banks.