Imagine you are close to getting your first paycheck. You have worked hard and are excited to spend the money. However, the first thing that you would need to spend your first paycheck is a bank account and access to seamless banking services.
On the other hand, you may be facing certain problems with your current bank, such as completing transactions, OTP issues, etc, which may force you to change your primary bank account.
When it comes to choosing a bank, the first question that arises is which bank is the best in India. Well, if you have the same question, we have curated a list of best Indian banks for you to consider and choose the best one.
Best Banks Of India in 2024
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Here are the top 10 banks in India which you can consider by the end of this year or in 2024:
State Bank of India:
State Bank of India is a household name and is the biggest bank in India within the public sector. It offers numerous physical and digital banking services and is considered safe because of the government’s backing. It offers its customers domestic and international banking services and a host of loan products. It is placed at 221st position on the Fortune Global 500 list of the biggest companies worldwide.
Revenue: Rs 3,50,844 crore
Branches: 22,405
ATMs: 62,617
Net Income: Rs 4,73,378 crore
HDFC Bank Ltd:
Second on the list of top ten banks in India is HDFC Bank, which is one of the biggest banks in India within the private sector. It offers its customers numerous banking services, such as net banking, UPI, corporate banking, etc. It has also launched innovative digital products such as SmartBUY and Payzapp.
Revenue: Rs 1,70,750 crore
Branches: 7,821
ATMs: 19,727
Net Income: Rs 2,04,666 crore
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ICICI Bank:
Third on the list of top Indian banks is ICICI Bank, which is India’s largest bank in the private sector. It has its branches and ATMs in India and foreign countries and offers a range of banking services. As of January 2023, the bank had a market value of Rs 6.08 trillion, with its head office in Mumbai.
Revenue: Rs 1,21,066 crore
Branches: 6,074
ATMs: 16,731
Net Income: Rs 1,86,178 crore
Punjab National Bank:
Punjab National Bank (PNB) is next on the list of the Indian top 10 banks and belongs to the public sector bank category. The ba\nk offers comprehensive retail and corporate banking services and has a staggering customer base of 180 million customers. Along with India, it has branches in countries such as Bhutan and the UK.
Revenue: Rs 86,845 crore
Branches: 10,076
ATMs: 13,000+
Net Income: Rs 28,132 crore
Bank of Baroda (BoB):
Next on our list of best Indian banks for 2024 is Bank of Baroda, which is a private sector bank. The bank is known for its established business and a wide network of financial products such as loans, retail banking, corporate banking, and locker facilities.
Revenue: Rs 94,138 crore
Branches: 8,200
ATMs: 9,200
Net Income: Rs 32,528 crore
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Canara Bank:
Canara Bank is yet another well-established public sector bank and our next addition to the list of top India banks currently and for 2024. The bank has a significant presence across India and aims to provide financial inclusion to domestic and international clients. It offers a host of banking services to its customers.
Revenue: Rs 85,884 crore
Branches: 9,706
ATMs: 13,423
Net Income: Rs 1,11,209 crore
Axis Bank:
Axis Bank is next on the list of best banks of India and is a private sector bank that has operations in India and abroad. The bank is one of the most popular banks for its innovative financial products aimed at SMEs, retail enterprises, and large to mid-size corporations. The bank focuses majorly on digital banking and offers a user-friendly banking experience.
Revenue: Rs 87,448 crore
Branches: 4,758
ATMs: 15,000+
Net Income: Rs 1,06,154 crore
Bank Of India (B0I):
Bank of India is nationalised bank and eighth on our list of best banks in India. It has a well-established network of branches and ATMs and offers physical and digital services to domestic and international clients. The bank is the founding member of WIFT, the Society for Worldwide Interbank Financial Telecommunication.
Revenue: Rs 47,931 crore
Branches: 5,129
ATMs: 5,551
Net Income: Rs 55,142 crore
IndusInd Bank:
IndusInd Bank is one of the most popular new-age banks and ninth on our list of Indian best banks for 2024. It is a private-sector bank and offers a wide range of banking and financial services. It is known for its digital products, user-friendly apps, and customised customer service.
Revenue: Rs 36,367 crore
Branches: 5,129
ATMs: 2,767
Net Income: Rs 55,142 crore
Union Bank of India:
Next on our list of best Indian banks is Union Bank of India, which is another public sector bank under the management of the Indian government. The bank is known for its established business and a wide network of financial products such as loans, retail banking, corporate banking, and locker facilities. Its banking services are known to be innovative and technology-driven.
Revenue: Rs 81,163 crore
Branches: 8,873
ATMs: 10,000+
Net Income: Rs 97,078 crore
Conclusion
As the banking spectrum shifts towards digital-first financial products, it is important that you choose a bank that is innovative and offers a host of banking services that you can access digitally and seamlessly. However, the cash flow, revenues, and a wide network of branches and ATMs are critical factors for a bank to offer you the best banking services.
Now that you know the best Indian banks and the biggest banks in India, you can compare and analyse the top Indian banks and choose the most suitable one for you among all.
