Top 10 Best Private Sector Banks In India 2018 And Ttheir Headquarters

India has a strong banking and financial sector and it is one of the most influential industry in India’s economy. Banks play an important role in the economy of every country. In Indian economy, Private Banks are the most regulated sector and people prefer private banks as they provide quality services to their customers.

Banking corporations are considered as the most prominent institution in private sector firms. Private sector is considered to be the best in offering excellence customized services and great personal interaction to its customers. They do not have any formalities like government sector bank and also they ensure convenient transactions. They generate more profit than most of the nationalized banks and thus have a great importance in the national income of an economy. These banks are famous for quality based products and customer centric service.

Indian banking system currently consists of around 25 private sector banks. A few of them have established their name over the past few years

Features of Private Banks

(a) Independent Management:

The owners of the private sector banking enterprise manage the bank on their own. In case of sole proprietorship and partnership, the owners directly manage the firm. The management of a joint stock company lies in the hands of directors who are the elected representatives of the shareholders.

 (b) Private Finance:

Owners of the private sector banks, themselves arrange the capital required in the bank. An individual trader contributes the capital of an individual proprietorship. In case of partnership, capital is invested by the partners. A joint stock company raises capital by the issue of shares and debentures. To meet its long term and short term needs for funds, a private sector enterprise can also raise loans.

 (c) No State Participation:

There is no participation by the Central or State Governments in the ownership and control of a private sector undertaking.

(d) Profit Motive:

Earning profit in private sector is their main objective. Profits provide the reward for the risk assumed and the required return on capital.

(e) Private Ownership and Control:

A private sector banking enterprise is fully owned and controlled by the private entrepreneurs. It may be owned by one individual or by a group of individuals jointly. When owned by one person, it is called Sole Proprietor­ship. In the form of joint Hindu family business a group of persons may jointly own the firm, partnership, Joint Stock Company or cooperative society.

Advantages of Private Sector Banks

  1. They provide more customized services and greater personal interaction. A unsatisfied customer can shout for the manager much like he would, at a restaurant.
    Private Banks do a better job at providing more, all-around banking facilities with family accounts, dedicated Relationship Managers, investment advisories and a host of add-on facilities.
  2. Service of private bank is very fast and accurate.
  3. You can update details at any branch.
  4. Customer service is very good.
  5. Convenience- Having a single point of contact for most or all of your financial transactions can make managing your money much easier.

Top 10 Best Private Sector Banks in India

HDFC(Housing Development Finance Corporation Limited)

It is an Indian banking and financial services company called as Housing Development Finance Corporation popularly known as HDFC Bank Limited. It was established in 1994 by Mr. Hasmukhbhai Parekh, a Padma Bhushan holder. Its headquarters is at Mumbai with 87,555 number of employees in the present year. It was the first private bank, after government allowed, and started doing transactions in 1995. It stands on 5thposition in terms of value of the assets. It is the first private bank in India that received RBI approval to establish a bank. The bank not only provides deposits and withdraws facility but Insurance, Credit cards, Loans, FOREX services, Private Banking and Premium Banking are also taken into account.

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Currently, in market capitalization of India the bank stands on top. HDFC currently serves the Indian public through a chain of 4555 branches and 12000+ ATMs in 2597 towns and cities all over the country. It also has branches in Bahrain, Hong Kong and Dubai. Mr. Aditya Puri the MD & CEO of HDFC Bank is a professional thinker and an acclaimed banking persons who believe in delivering the right product to the right customers with professionalism. People love HDFC bank due to client service they provide which is better than any other bank. HDFC has been honored with a huge line of awards such as Asian Banker Best Bank in India and ‘Dun & Bradstreet – Polaris Financial Technology Banking Awards 2012 for overall Best Bank, Retail Banking in Private Sector, Best Private Sector and Asset Quality in Private Sector, “AIMA Managing India Awards 2015, and many more.

  • Industry:Financial services
  • Founded:1994
  • Headquarters:Mumbai India
  • Area served:Worldwide
  • Products:Banking
  • Asset:USD 66.7 billion
  • Number of employees:87,555 (31st March 2016)

ICICI(Industrial Credit and Investment Corporation of India)

It was founded in 1994 and it is an Indian multinational banking and financial services company. It stands for Industrial Credit and Investment Corporation of India, established founded by Chanda Kochar who is the current CEO of the ICICI Bank in India. Its headquarter is in Mumbai, Maharashtra, India, with its registered office in Vadodara. The bank was started in Vadodara Gujarat and is currently the 2nd largest bank in India in terms of assets and third in market capitalization. The parent company of ICICI Bank was formed in 1955.  It was established by joint venture of World Bank and ICICI limited. In 1994, ICICI bank was established by Industrial Credit and Investment Corportation of India as a wholly owned subsidiary and the parent company was later merged with ICICI Bank.

It offers banking facilities starting from deposits, withdrawals to loans, wealth management, Insurance, NRI Accounts, Privilege Banking, personal loans, payment solutions, credit cards and many more, being a multinational banking and financial services company of India. In 2014, the bank was awarded with the best bank by Global Business Development. The bank has 3540 branches and 11200 ATM’s and current assets value is 109 billion USD all over India it has. It is one of the oldest banks and thus people show good their faith.

  • Industry:Banking, Financial services
  • Founded:1994
  • Headquarters:Mumbai, Maharashtra, India
  • Area served:Worldwide
  • Products:Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management, personal loans, and payment solutions.
  • Assets:US$109.0 billion (2016)
  • Number of employees:74,096 (2016)



One of the third largest private sector bank in India is AXIS bank. The Axis Bank has come into establishment in the year 1993 as the UTI (Unit Trust of India) bank. Its registered office is in Ahmedabad and its head office is in Mumbai. UTI Bank began its operations in 1993, after the Government of India allowed new private banks to be established. Axis Bank became the first Indian bank to launch the travel currency card in 2003. Axis Bank has the largest ATM network among private banks in India. The Bank has nine international offices with branches at Singapore, Hong Kong, Dubai and many more. The bank got listed on London Stock Exchange in 2005.


It offers services such as retail banking, NRI banking, corporate banking, commercial banking, credit cards, mortgage loans, agricultural and rural banking with various banking loans and insurance policies for the benefits of the various customers. Till July 2016 the market capitalization of AXIS bank is Rs.151, 877.77 cr. It has 56,084 employees and has 3300 branches, 13,003 ATMs, and nine international offices. It has also won many awards as No. 1 Promising Banking Brand of 2015, Economic Times Awards 2015, Outstanding Corporate Foundation at Forbes India, Philanthropy Awards, 2014, No 1 company to work for in the BFSI sector – ‘The Best Companies to Work for’ survey by Business Today in 2013.etc.

  • Industry:Banking, Financial services
  • Founded:1993(as UTI Bank)
  • Headquarters: Ahmedabad, Gujarat, India
  • Key people:Shikha Sharma (MD & CEO) Sanjiv Misra (Chairman)
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking, wealth management
  • Total assets: 25468 trillion (US$78 billion) (2016)
  • Number of employees:56,084 (March 2016)
  • Website:com

Kotak Mahindra Bank

Its headquartered is located in Mumbai, Maharashtra, India. Kotak Mahindra Bank is an Indian private sector bank. Earlier it was a non-banking company called as Kotak Mahindra Finance Limited. It started its banking career in 2003 after receiving the license from RBI and continuing since then. It was established by Mr.Uday Kotak. The Kotak Mahindra Bank is a little bit expensive in nature that manages and holds responsibility of your banking accounts. The bank became more popular when it started offering 6% interest on saving account rather than 4% interest. This strategy attracted a lot of customers. Till July 2016 the market capitalization of the bank is Rs.150, 176.96 cr.

In the year 2015, it also acquired another highly recognized private bank ING Vysa Bank. It has a network of 1,336 branches and 2,044 ATMs it is spread across 702 locations in the country. It offers services like Wholesale Banking, Privileged Banking, IPOs, tax- free bonds, mutual funds, NRI Banking, equity, portfolio management, derivatives, ETFs, currency Life Insurance and Finance to its customers. The bank is very well trusted by many of the big business for keeping their money safe. Also, the bank has completed more tha 30 years in banking sector of India.

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  • Industry:Banking, Financial services
  • Founded:1985(Kotak Mahindra Finance Limited), 2003
  • Headquarters: Mumbai, Maharashtra, India
  • Key people:Shankar Acharya, Uday Kotak
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking, wealth management
  • Total assets: 214,589.95 crore(US$33 billion) (2017)
  • Number of employees:33,013 (2017)

YES Bank

This is the 5th largest private bank in our list. It was established by Rana Kapoor and Ashok Kapoor in 2004. It’s headquarter is situated in Mumbai. The bank has made a huge impact on the banking industry. It is one of the fastest growing bank in the country. It is the only bank with Greenfield Bank license holder in the past two decades. The bank is part of global thought leadership forums like the Clinton Global Initiative (CGI), Triple Bottom Line Investing (TBLI) and Tallberg Forum. Recently, it became the first Indian Bank to become a participant with the United Nations Environment Programme (Financial Initiative).

Yes Bank has established itself as a Full Service Commercial Bank. The bank specializes in Corporate, Retail and SME Banking, Investment Banking, Corporate Finance, Branch Banking, Wealth Management etc. It has more than 500 branches in almost 400 cities. In 2013 the bank was awarded with Golden Peacock Award for its Corporate Social Responsibility. This bank is known for very good customer relationship and maintaining commitments.

  • Industry:Banking, Financial services
  • Founded:2004
  • Headquarters: Mumbai, Maharashtra, India
  • Key people:Rana Kapoor, Ashok Chawla
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking, wealth management
  • Total assets: 215,059.91 crore (US$33 billion) (2017)
  • Number of employees:20,125 (2017)


The name of the bank came from the name of the Indus Valley Civilization and is better known for retail banking. IndusInd Bank started its operations in the year 1994. It was founded by Srichand P. Hinduja in 1994. It’s headquarter is in Mumbai. Now, it has achieved a big name as it has spent a lot of time and money promoting services. The bank is owned by Hinduja Group. Ramesh Sobti is the current CEO and Managing Director of this bank. The bank always came up with new and innovative ideas such as Quick Pay, Cash-on-Mobile, 365 day banking, Direct Connect, On the Go, Swift Pay etc.

It has 1,004 branches, and 1885 ATMs spread across 625 locations of the country. It is specialized in many fields, such as Corporate & Investment, Financial Institutions and Private and Government Banking Institutions. Other, range of services includes deposits, loans, cards, insurance etc. Till July 2016 the market capitalization of the bank is Rs.73, 272.69 cr. It also has representative offices in London, Dubai and Abu Dhabi. In India, Mumbai has the maximum number of bank branches followed by New Delhi and Chennai.

Industry:Banking, Financial services

  • Founded:1994
  • Headquarters: Mumbai, Maharashtra, India
  • Key people:Romesh Sobti, Srichand P. Hinduja
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking, wealth management
  • Total assets: 178,648.41 crore(US$27 billion) (2017)
  • Number of employees:25,314 (2017)


Earlier known by the name of Travancore Federal Bank was established in 1945 by Mr. K P Hormis. The bank has a great history attached to it. The bank was established even before the country got freedom. After we got the freedom the name was changed to Federal bank. It’s headquarter is located in Aluva in the states of Kerela. It is known for the longest running commercial bank in India. It works with advanced technology and brilliant working performance. Till July 2016 the market capitalization of the bank is Rs.12, 339.99 cr.

At present the bank is dealing these services like Insurance and Loans, NRI Banking, Corporate Banking, etc. It is one of the preferred banks for NRI banking. It has 1252 branches and 1680 ATMs across the country. In August 2013, Federal Bank introduced FedBook, the first electronic passbook launched by any bank in India. FedBook is a mobile app through which customers can view their passbook details. The bank is progressing to maintain its position among the best private sector banks in India.

  • Industry:Banking, Financial services
  • Founded:1945
  • Headquarters: Aluva Kerela, India
  • Key people:M Chandrasekhar(Chairman) Shyam Srinivasan (MD & CEO)
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking,  wealth management
  • Total assets: 14,976.93 crore(US$18 billion) (2017)
  • Number of employees:11,593 (2017)


The Bandhan Bank has come into establishment in the year 2001 with its headquarters based in Kolkata, West Bengal. Mr. Chandra Shekhar Ghosh is the owner and managing director of Bandhan Bank along with this he is the vice-president of Bengal chamber of commerce and industry. Bandhan Financial Services Limited is the parent company of Bandhan bank for regulating it. It started as a micro-finance company in 2001 and received license in 2014 from RBI.

It has 840 bank branches, 282 ATMs and 2,443 Doorstep Service Centers (DSCs). It provides service for Retail loans including micro loans, SME loans and small enterprise loans, Savings accounts, current accounts and a variety of fixed deposit accounts. Other banking products and services includes mobile banking, debit cards, internet banking, online bill payment services, EDC-POS terminals and the distribution of third-party general insurance products and mutual fund products. The bank is known to provide great quality banking and financial services.

  • Industry:Banking, Financial services
  • Founded:2014
  • Headquarters: Kolkata, West Bengal, India
  • Key people:Ashok Lahiri (Chairman) Chandra Shekhar Ghosh (MDCEO)
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking,  wealth management
  • Total assets: 30,236.09 crore(US$4.6 billion) (2017)
  • Number of employees:24,220 (2017)

J&K Bank

The J&K Bank is known as Jammu and Kashmir Bank. This bank came into establishment back in the year 1938 by Mushtaq Ahmad. Its headquarters is based in Srinagar. It is a universal bank of Jammu and Kashmir and specialized bank at other places. The bank made continuous profit record for about 4 decades consistently. The banking with J&K Bank is easy and convenient. The electronic and online transactions are safe. Till July 2016 the market capitalization of the bank is Rs. 3,386.17cr.

At the time of Independence of the country, the bank had to face a serious problem when out of 10 branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control along with cash and other assets. Later on the bank was declared as Government Company. Currently, the bank is spread across 821 computerized bank branches and 1000 ATMs across the country.

  • Industry:Banking, Financial services
  • Founded:1938
  • Headquarters: Srinagar, Jammu and Kashmir, India
  • Key people:Parvez Ahmed (Chairman & CEO)
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking,  wealth management
  • Total assets: 82,018.67 crore(US$13 billion) (2017)



Karur Vysya Bank is popularly known as KVB. It was founded in 1916 by M.A. Venkatarama Chettiar and Athi Krishna Chettiar. It’s headquarter is based in Karur, Tamil Nadu. The bank was started by only Rs.1 lakh. Its estimated revenue over all this years is about 576.6billion. Under Core banking Solutions, KVB is one of the earliest banks in the country to achieve full networking of its branches. The bank had a branch network of 714, an ATM network of 1748 and 447 Recycler / Cash Deposit Machines as on 31.03.2017. Till July 2016 the market capitalization of the bank is Rs. 5,837.31cr.

The bank has won many awards such as Best Private Sector Bank for Priority Sector Lending from Dun & Bradstreet, Best Bank Award for Credit Quality, 2013-14 from Financial Express. The bank has now spread far and wide with over 675 branches in 20 States and 3 Union Territories. The bank is managed and guided by the Board of Directors drawn from different fields. It offers services like mutual funds, savings account, freedom saving account, fixed deposits, personal and home loans, Retail banking, Commercial banking, Investment banking, insurance policies and many more. The bank is famous for excellent customer service.

  • Industry: Banking, Financial services
  • Founded: 1916
  • Headquarters: Karur, Tamil Nadu, India
  • Key people: Swaminathan (Chairman)
  • Products: Credit cards, mortgage loans, corporate banking, finance and insurance, investment banking, private banking, private equity, consumer banking, wealth management
  • Total assets: 57,663.72 crore(US$8.8 billion) (2016)
  • Number of employees: 7,211 (2016)
  • Website:


There are multiple advantages of banking with the private sector. Although there are risks and challenges involved in private sector, well you can say that there are more risks than benefits.

Indian banking and financial system is now one of the strongest in the world which is why it is getting a push from the Government as well. India is now moving towards becoming one of the greatest economies of the world and we can only thank out financial sector to be so fast and reliable.

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