Top 10 Leading Private Banks in India in terms of Revenue 2021

The Indian economy is known to one of the largest economies in the entire world. It is not only because of the unusually high population but also because of an incredible economic variance. Thankfully for us, there are 12 Public Sector and 22 Private Sector Banks that are efficiently serving the nation’s varied population.

What are Private banks?

Private banks or private banking includes providing banking, investment, tax management, and additional financial services to high net worth individuals. Unlike mass-market retail banking, private banking concentrates on implementing more personalized financial services to its clients through banking personnel specially dedicated to providing such individual services.

Features of Private Banks

  • Eligibility – Clients have to satisfy certain requirements to be eligible to profit from private banking services. It ordinarily includes the sustenance of a minimum balance in the form of deposits, investments, or other types of assets
  • Dedicated representation- Clients are assigned a dedicated relationship manager, or a team of people with a absolute understanding of the asset ownership, risk aversion , preferences, and long-term financial goals of the customer.
  • Perks – Clients of private banking often gain benefits such as lower annual percentage rates (APRs) for mortgages, higher annual percentage yield (APY) on securities like certificates of deposits (CDs), free safe deposit boxes, etc
  • Target : The affluent section of society is the primary target market of private bankers. While performing normal lending activities, they may access tax documents or other personal documents to discover potential clients.

Benefits of Private Banks

Banks target very affluent individuals because doing so earns them significant returns and guarantees them regular income from clients. The clients of private banking benefit in the following ways:

  • Privacy
  • Discounted Services
  • High Investment Returns
  • Industry Challenges

List of the Top Private Banks in India 2021

Private BanksHeadquartersMarket Cap(Aug 2021)
HDFC BankMumbai₹8,57,358 cr
ICICI BankMumbai₹4,90,475 cr
Kotak Mahindra BankMumbai₹3,70,890 cr
Axis BankMumbai₹2,43,595 cr
IndusInd BankPune₹80,237 cr
Bandhan Bank LtdKolkata₹45,800 cr
Yes BankMumbai₹31,193 cr
IDFC First BankMumbai₹29,783 cr
Federal BankAluva, Kochi₹17,305 cr
City Union Bank LtdKumbakonam₹11,592 cr
List of Private Banks and their Headquarters and Market Cap

1. HDFC Bank

Housing Development Finance Corporation Bank Limited is the largest private sector bank in the country. Some of the bank’s exceptional services and products include wholesale banking, retail banking, treasury auto loans, personal loans, two-wheeler loans, loans against property, lifestyle loan, durable consumer loan, and credit cards.

Educational Loan: If you are searching for your child’s education funds, you can apply for an HDFC education loan. You can take a loan of almost INR 7.5 lakh without any security. Also, you can get an impressive rate of interest while taking a loan.

  • Home Loan: If you have to choose between the fixed and floating rate of interest, the HDFC home loan can be the best choice for you as it also gives you loan approval before selecting the property. 
  • Credit Cards: You can enjoy many privileges with a wide range of HDFC credit cards. You can determine which card will be best for you according to the spendings you make. 
  • Loan Against Assets: If you require funds, you can opt for a loan against assets schemes. It includes loan against credit cards, loan against property, loan against securities, loan against car.

2. ICICI Bank

ICICI Bank Limited is an Indian multinational financial and banking services company. When it comes to market capitalization and assets, ICICI Bank is the second-largest bank. It provides the broadest range of financial services and banking products for retail as well as corporate customers.

  • Home Loan: ICICI home loan option will be the proper one for you because of the affordability and comfort it provides. You can conveniently repay the loan via the EMI option within the repayment time. You can use the ICICI Bank EMI Calculator to get an estimate about the EMI amount before choosing the loan.
  • Vehicle Loan: With the ICICI Car loan’s help, you can purchase new and pre-used cars at an affordable rate of interest. 
  • Insurance Services: ICICI Bank also provides several insurance services such as Life Insurance, Travel Insurance, Health Insurance, etc. 

3. Kotak Mahindra Bank

Kotak Mahindra Finance Ltd. was an NBFC till it got a banking license from RBI in 2003. It transformed into a bank – Kotak Mahindra Bank Limited – and became the very first NBFC to turn into a bank. Later in 2015, it obtained ING Vysya Bank at Rs 150 billion. In the year 2019, it produced Rs 28547 crores, out of which it succeeded to secure a profit of Rs. 5827 crore

  • Accounts and Deposits: Kotak Mahindra Bank presents some exceptional accounts & deposits services to the customers. Some of them include Fixed Deposit (FD), Tax Saving FD, Recurring Deposit, Senior Citizen FD, Corporate Salary Accountants, Retail Institutional Accounts, etc. You can also make use of the Kotak Mahindra Fixed Deposit Calculator to comprehend the amount you can get after a certain period.
  • Card Services: You can choose from forex cards/prepaid cards, debit cards, and the bank’s credit cards. Some of the Kotak Mahindra credit cards include PVR Gold, Aqua Gold, League Platinum, Urbane Gold, etc.
  • Loan Facilities: Kotak Mahindra lets you avail of funds for multiple requirements whether you want to buy a home or even a car. The loan can be imparted at an affordable rate of interest and with accessible repayment facilities at their disposal.

4. Axis Bank

Axis Bank is known to be the third-largest private bank in India. Currently, the bank has more than 4000 branches, 11,800 ATMs, and 4,920 cash recyclers across India. The bank extends a host of unique financial products and has served the customers well ever since its commencement.

  • Loan Schemes: Axis Bank presents amazing loan schemes to its clients at an affordable interest rate. Some of their top loan schemes include Home Loan, Gold Loan, Personal Loan, Loan against Securities, Education Loan, Vehicle Loan, etc. 
  • Card Services: People don’t prefer to carry cash with them all the time. Keeping this in mind, there is a variety of Axis Bank cards at your disposal – Credit cards, Prepaid Cards, Debit Cards, Transit Cards, Commercial credit etc.
  • Insurance Schemes:  Axis Bank has got the most excellent range of insurance services that can help in securing your future. Some of the insurance schemes include Life Insurance, Health Insurance, Travel Insurance, Pradhan Mantri Suraksha Beema Yojna, etc.

5. IndusInd Bank

It was established in the year 1994 to serve the NRI community. This is the main reason the Bank has a significant presence in metro cities. The Bank also has a decent presence in overseas country, including Dubai, Abu Dhabi, and London. It presents employment to over 25000 people and offers various banking products. 

  • Investments: If you are looking to invest your money to get some profitable return or a regular fixed income, you can invest in one of the investment schemes provided by IndusInd Bank. Some of the schemes include Mutual Fund investment, National Pension Scheme, Sovereign Gold Bond, ASBA, etc.
  • Accounts and Deposits: Want to open a savings account or salary account or fixed or recurring deposits? You can pick from several IndusInd Bank accounts. Some of the schemes include IndusOnline savings account, Senior Citizen Schemes, Defence Salary accounts, Young Saver Deposits, Regular Recurring Deposit, etc.
  • Loans: No matter your purpose, you can choose from a large variety of loan options such as home loan, car loan, personal loan, two-wheeler loan, used car loan. Without worrying about the heavy interest rate, you can effortlessly apply for the loan choices.
  • Card Facilities: There are many plastic cards provided by this bank that you can have in your wallets, like, debit cards, credit cards, prepaid cards, forex cards, Duo cards, as well as commercial cards. 


The bank has almost 1150 branches with over 2000 ATM’s. Established originally for the purpose of promoting the industrial sector of our country, IDBI. With services like loans, payment services, deposits & accounts and investment solutions, IDBI Bank presents easy access and fast solution to people faced with any kinds of financial problems.

  • Savings and Current Account: With an excellent range of saving and current accounts, you can place your hard-earned money in these accounts. Some of them include Super Savings account, Super Shakti Account, Power Kidz Account, Being Me Account, Flexi Current Account, etc.
  • Loan Products: IDBI Bank offers all kinds of loans to choose from – whether you’re seeking a home loan or education loan or a personal loan for your immediate financial needs. You can pay them later via Equated monthly instalments (EMI).
  • Credit Cards: You can choose from a wide range of credit cards according to your preferences. Some of them are Royale Signature,Winnings Credit card, Euphoria World etc.

5. J&K Bank

Considered to be the primary private bank in India to develop as a State-owned bank, Jammu and Kashmir Bank is one of India’s best banks that operates as a Universal Bank in Jammu and Kashmir and also a specialized one in the other parts of the country.

  • Loans: From a Laptop Finance scheme to the Housing Loan scheme, Jammu and Kashmir cover almost everything. Some of the loan schemes include Saral Finance, Scooty Finance for Ladies, Modular Kitchen Finance, Smartphone Finance, Car Loan for new as well as pre-used cars. 
  • Personal Accounts: There are many options from which you can choose. If you want to deposit your salary each month, then a General or Deluxe Salary account would be ideal for you. If you need to deposit the money for your family, then you can select the Family Protection Savings Account. Other than these, there are Student Savings Account, Pension Account etc.
  • Term Deposits: If you want to set your amount for a fixed amount of time, then you can choose from several term deposit schemes presented by the Jammu and Kashmir Bank. Some of the schemes included Tax Saver Term Deposit scheme, Child-care Deposit scheme, Smart Saver Term Deposit scheme, Depositor’s Pension Scheme, etc.

6. Yes Bank

Yes, Bank Limited was founded in 2004, but the bank is under RBI’s investigation for a bad loan of Rs 42,000 crore from the past year. Opposed to focusing on corporate banking, the bank is intending to work as a retail bank. Yes Bank used to lend syndicated loans to medium-scale enterprises and big corporations.

  • Vehicle Loan: If you want to buy a four-wheeler or a two-wheeler, you can choose a car or a bike loan from Yes Bank at a very affordable interest rate with easy repayment options. With highlights like faster processing and accessible documentation, this could be the ideal choice for you. Yes bank also ensures a 2-day service guarantee on its car loan scheme.
  • Housing Loan: Yes bank provides a great home loan facility. With interest rates varying from 9.85% to 12% per annum, this home loan facility can be a suitable choice for you. You can get the loan amount for maximum of INR 5 crores.
  • Credit Card: Loaded with excellent reward points options, secured transactions, cashback offers, faster processing and bill payment, a credit card from Yes Bank could be the best choice for your wallet. Some of the Yes bank credit cards include Prosperity Edge, Rewards, Rewards Cashback and many more. You can also receive a credit card against a fixed deposit.

9. IDFC First Bank

IDFC Bank was founded in 1997 and got the NBFC license from RBI in the year 1998. However, after beginning its operation as a universal bank in 2015, it declared the NBFC Capital First and IDFC Bank merger and today, known as IDFC First Bank. IDFC Bank was the first bank to originate Aadhar-linked cashless transactions in India after demonetization

  • Savings Account: Some of the savings accounts include Senior Citizens Saving Account, Corporate Salary Account, Regular Savings Account, Vishesh Savings Account, Minor’s Savings account, etc.
  • Micro-Enterprise Loan: If you want to begin a new business in rural areas, you can opt for a micro-enterprise loan made explicitly for small rural entrepreneurs. You don’t need to present any collateral. For loans up to INR 3 lakhs, you don’t even need income proof. This loan facility is also recognized as Vypaar Vridhi Loan.
  • JLG Loan for Women: IDFC First Bank has designed Sakhi Shakti Loan to empower women to choose credit and savings solutions. 
  • Home Loan: You can opt for the IDFC First home loan at a very affordable rate of interest with the minimum documentation process. This loan facility has made it feasible to buy their home for several customers, available to salaried and self-employed individuals.
  • Investment Services: There are many investment services provided by IDFC First Bank, including Mutual funds, Online Trading, Gold Bond Demat Trading, and Investment-Linked Insurance. 

10. Federal Bank

After meeting the Banking Regulation Act’s formalities, it was named as Federal Bank Ltd in 1949. Between 1963 and 1970, it obtained five banks and grew into a commercial bank in 1994. Currently, the Bank has branches overseas in countries like Dubai and Abu Dhabi and possesses a 1.2 million NRI customer base.

  • Loan Products:  You can choose an education loan if you want to fund your child’s education or a personal loan to buy a new phone, etc. You can even opt for a car loan if you are planning to buy a brand new car. The options are unlimited.
  • Card Facilities: Some of the Federal Bank cards are debit cards, credit cards, Gift cards, contactless debit cards, Forex Cards, etc. You can even select the EMI facility on your debit card.
  • Insurance and Investments: Federal Bank also presents a wide variety of insurance schemes like Health Insurance, General Insurance, Life Insurance, etc. You can even invest in one of the mutual fund schemes provided by them. Other than this, you can do online trading with the help of the Fed-e-Trade facility.

FAQS on Private Banks

1. What is the history of Private Banking?

Security is the leading feature that individuals look for while depositing money in a bank. The banking system was initially introduced in India through the British Era. Back then, there were only a total of three banks in our country. When our country gained freedom in 1947, our banking sector went into tatters, and it needed a governing body that could assist in the regulation and smooth functioning of each bank.

2. What are the challenges faced by the private banking division?

  • Lead Generation
  • Regulatory Restrictions
  • Retaining Private Banking Professionals

3. Is Private Banking and Wealth Management the same?

Private banking and wealth management are related but vary in the kind of services they contribute. Wealth management requires taking the client’s risk tolerance levels into account and investing assets depending on their financial goals. Private banking involves presenting personalized financial and banking services to high net worth individuals.

4. Which is the leading Private Bank of India?

HDFC Bank.

HDFC Bank is known to be the leading Indian private bank with assets of over 15 trillion Indian rupees.

5. Are Private Banks safe?

Private banks are legally safe up to Rs 1 Lakh savings under the provisions of Deposit Insurance and Credit Guarantee Corporation Act 1961. Even this provision has never been entreated post-independence

6. How many Private Banks in India?

Currently, there are 21 private sector banks in India.