India can definitely be proud of its strong banking and financial sector. There are 21 private sector banks, 27 public sector banks, 56 rural regional banks, 49 foreign banks and 1562 municipal co-operative banks. One of the very most mandatory thing in today’s life is to hold a bank account where you can have a sense of control on your money and finances. It’s important as the bank is a financial situation who accepts deposits and provides credit.
The basic functioning of all the banks is exactly the same but certain criterias create a difference between the banks. These criterias include the charges, time period, interest rate etc. India has definitely made a significant progress in the financial inclusion in recent years and it has been recognized by the World Bank.
Below mentioned are the best banks in India.
Hdfc bank has been ranked as the best bank in India for its best financial functioning. The housing development finance bank is a private bank which is providing financial services to the customers since 1994. You can maintain a minimum salary account and a zero-balance savings account. The interest that you get on a salary account is 3.5%. its headquarters is in Mumbai and HDFC has employed more than 88,000 permanent employees.
State bank of India is one of the most consumer-friendly bank and also preferred by many consumers. It has one of the very good facilities to provide facility to make online payment for the government exams. It is also one of the biggest banks in India so basically it has many branches across India. And plus, if you don’t maintain minimum balance, no charges are levied on you. SBI has greater reach among Indian households and is still considered to be one of the safest banks in India.
ICICI Bank is the best bank for personal banking. Its headquarters is in Mumbai with the registered office in Vadodara. The bank provides you with a zero-balance salary account and international debit card too. The minimum balance in savings account is 10000rs.
Bank of Baroda is a public sector bank which is owned by the government of India. It is ranked 1145 by Forbes in the 2000 banks list. It is well known for the various benefits it provides to its employees. The perks that are available to them are insurance benefits, retirement benefits and vacation policy. This bank is headquartered in Baroda, Gujarat and it has more than 10,000 ATMs domestically as well as abroad.