India’s banking system is transforming fast! With more people looking for better services, top private banks in India are stepping up to meet these needs. The rise of digital banking is also making it easier for everyone to access financial services. For example, the Indian fintech industry is expected to grow from $111 billion to $421 billion by 2029! 

Because of these changes, many people are choosing private banks for their convenient and reliable services. To help you find the right one, we’ve compiled a list of top private banks in India for 2025. These institutions have earned their reputation by providing excellent service and customer satisfaction.

Let’s take a closer look at the top 10 private banks in India- 2025!

Introduction to Private Banks in India (2025 Overview)

Private banks in India are financial institutions owned and operated by private individuals or corporations. The top private banks in India focus on providing efficient and transparent services. One of the key aspects of private banking is offering clients guidance on effective financial management. Their services include estate planning, tax preparation, loans, credit cards, and investment options.

Private banks in India have a great history!

Before India gained independence, banking was chaotic and disorganised. However, after independence, especially in the 1990s, when the government relaxed rules, private banks came into the limelight. This change allowed them to introduce modern banking methods.

Now, the top private sector banks occasionally introduce advanced technologies.

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Many people prefer private banks over public banks for their personalised services and quicker response times. These top private banks in India lead the digital banking industry.

Do you know how many private banks are in India?

Here is the updated list, as shared by the RBI. 

The latest private bank list includes 21 private sector banks in India as of March 2025.

List of Private Banks in India- 2025

Here is the updated list of private-sector banks in India as of March 31st 2025.

Bank Names- Private Sector Banks in India

Axis Bank, Bandhan Bank, CSB Bank, City Union Bank, DCB Bank, Dhanlaxmi Bank, Federal Bank,

HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, IndusInd Bank, Jammu and Kashmir Bank,

Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Lakshmi Vilas Bank, Nainital Bank,

RBL Bank, South Indian Bank, Yes Bank

Now, out of all these, which is the best private bank in India? 

Let’s explore the list of top private banks in India to help you decide!

Here is the latest list of top 10 private banks in India as of March 28th, 2025:

S.No.	Name	Year	Location	P/E	Mar Cap (Rs. Cr.)
1	HDFC Bank	1994	Mumbai, Maharashtra	19.86	1384614.97
2	ICICI Bank	1994	Vadodara, Gujarat	19.26	947433.84
3	Kotak Mah. Bank	1985	Mumbai, Maharashtra	21.86	429456.14
4	Axis Bank	1993	Mumbai, Maharashtra	12.02	339583.71
5	IDBI Bank	1964	Mumbai, Maharashtra	11.74	84460.08
6	Yes Bank	2004	Mumbai, Maharashtra	24.57	53427.35
7	IndusInd Bank	1994	Pune, Maharashtra	6.98	50794.34
8	Federal Bank	1931	Kerala	11.75	47581.70
9	IDFC First Bank	2015	Mumbai, Maharashtra	21.24	40928.36
10	AU Small Finance	1996	Jaipur, Rajasthan	19.96	40604.48

Source: Data as of March 28th, 2025, retrieved from Screener.in – Top 10 Private Banks in India by Market Capitalization.

List of Top 10 Private Banks in India 2025- Features and Offerings

Here’s an overview of the best private banks in India 2025 and their key figures:

1. HDFC Bank- Top Private Bank in India by Market Cap

HDFC Bank was formed in 1994 as a subsidiary of Housing Development Finance Corporation (HDFC). It ranks first among the top private banks in India. 

HDFC Bank offers multiple personal banking services. 

This includes:

• Accounts
• Deposits
• Cards
• Loans
• Investment
• Insurance products

Incorporation Date: August 1994

Commencement of Operations: January 1995

• 9,092 branches
• 20,993 ATMs across 4,088 cities
• Key Products: Home Loans
• Network: 737 Outlets
• Target Market: Urban, Semi-Urban, and Rural India

As per the latest data, as of March 28th, 2025, HDFC is the largest private bank in India on the private bank list- 2025.

Key Performance Metrics – Q3 FY25

Metrics	YoY Growth	QoQ Growth
Deposits	₹ 3.36 tn (↑15.9%)	₹ 0.99 tn (↑4.2%)
CASA (Average)	–	₹ 0.09 tn (↑1.1%)
Time Deposits	–	₹ 0.90 tn (↑5.8%)
AUM (Assets Under Management)	₹ 1.86 tn (↑7.6%)	₹ 0.64 tn (↑2.5%)

Key Financial Parameters – Q3 FY25

Financial Metric	Value
Average Deposits	₹ 24,528 bn (↑4.2% QoQ)
CASA Ratio	33%
Average Advances (AUM)	₹ 26,276 bn (↑2.5% QoQ)
Net Interest Margin (NIM)	3.43%
Cost-to-Income Ratio	40.6%
Gross NPA (GNPA)	1.42% (ex-agri: 1.19%)
Profit After Tax (PAT)	₹ 167 bn
Earnings Per Share (EPS)	₹ 21.9
Return on Assets (RoA)	1.9%
Capital Adequacy Ratio (CAR)	20.0% (CET1: 17.5%)

2. ICICI Bank- Ranked No. 2 Among Top Private Banks in India

ICICI Bank ranks 2nd on the list of top private banks in India.

It earns recognition as one of the best private banks due to its diverse offerings.

This includes:

• Savings accounts
• Fixed deposits
• Recurring deposits
• Car loans
• Two-wheeler loans
• Home loans
• Credit cards
• Personal loans

Founded in 1994, it emerged as a subsidiary of the ICICI (Industrial Credit and Investment Corporation of India).

Performance Review: Key Highlights for Q3 FY25:

Feature	YoY Growth	QoQ Growth	Value (Q3 FY25)
Profit Before Tax (Excluding Treasury)	12.8% ↑	3.2% ↑	₹ 152.89 bn
Core Operating Profit	13.1% ↑	2.9% ↑	₹ 165.16 bn
Core Operating Profit (Excluding Dividend Income)	14.7% ↑	3.3% ↑	–
Profit After Tax (PAT)	14.8% ↑	–	₹ 117.92 bn
Provisions	–	–	₹ 12.27 bn (0.37% of Avg. Advances)

3. Kotak Mahindra Bank- Ranked No. 3 Among Private Sector Banks in India

It ranks third on the list of top private banks in India. 

Kotak, one of the top 10 private banks in India, emerged in 2003 as a result of the merger of Kotak Mahindra Finance Limited, a non-banking finance company, and two Kotak Group companies.

One of the best private banks in India, Kotak, has unique offerings. 

These include:

• Credit card offers
• Debit card benefits
• A variety of savings and investment products

Key Highlights as of March 2025:

1. 1,869 branches and 3,239 ATMs across India, with additional branches in GIFT City and DIFC (Dubai).
2. Zurich Insurance Group acquired a 70% stake in Kotak General Insurance.
3. Consolidated PAT for Q2FY25 ₹ 5,044 crore

Consolidated Performance

Feature	Value	YoY Growth
Profit After Tax (PAT)	₹ 4,701 crore	↑ 10%
Return on Equity (ROE)	12.43%	–
Return on Assets (ROA)	2.30%	–
Book Value per Share	₹ 769	↑ 23%

Bank-Level Performance

Metric	Value	YoY Growth
Profit After Tax (PAT)	₹ 3,305 crore	–
Customer Assets	–	↑ 15%
Net Interest Margin (NIM)	4.93%	–
Average Deposits	–	↑ 15%
CASA Ratio	42.3%	–
Net NPA (NNPA)	0.41%	–

4. Axis Bank- Ranked No. 4 Among Top 10 Private Banks in India

Axis Bank, established in 1993 as UTI Bank, is one of the largest private banks in India.

It currently ranks fourth on the private bank list in India. Axis offers numerous banking and financial solutions, including personal and business banking.

Retail banking products such as:

• Savings and salary accounts
• Fixed and recurring deposits
• Credit and debit cards
• Loans
• Forex services
• Investment options

Axis Bank Q1FY25 Highlights

• Employees: Over 103,400
• Credit Cards: 2.86 million cards in force
• Branches: 5,577 across India

Feature	Value	YoY Growth	QoQ Growth
Core Operating Profit	₹ 9,637 crore	↑ 16%	–
Net Profit (PAT)	₹ 6,035 crore	↑ 4%	–
Net Interest Margin (NIM)	4.05%	–	–
Return on Assets (ROA)	1.70%	–	–
Return on Equity (ROE)	16.68%	–	–
Total Deposits (QAB Basis)	–	↑ 14%	↑ 3%

5. IDBI Bank- Ranked No. 5 Among Top 10 Private Banks in India

Established in 1964, IDBI Bank currently ranks 6th among the Private Sector Banks in India. It started as a development finance institution.

IDBI provides a comprehensive range of products, including:

• Savings and current accounts
• Home and Auto loans
• Gold loans
• Banking services tailored to retail, MSME, and agricultural customers
• Digital banking services

Highlights for Q1 FY 2025:

• Profit Before Tax (PBT): ₹2,519 crore
  Operating Profit: ₹2,076 crore
  • Net Advances: ₹1,94,026 crore
  • Deposits: ₹2,77,548 crore
  • Net NPA: 0.23%
  • Gross NPA (GNPA): 3.87%
• 1,928 branches and 3,334 ATMs

6. Yes Bank- Ranked No. 6 Among Top 10 Private Banks in India

It ranks sixth on the list of 10 best private banks in India. Yes Bank, founded in 2003, is one of the largest on the list of top private banks in India. It has a network of over 1,100 branches and 1,800 ATMs nationwide.

One of the best private bank in India, it offers multiple banking services, including:

• Bank accounts
• Deposits
• Cards
• Cash management
• Privilege banking
• Trade finance
• Non-Resident India (NRI) banking
• Institutional banking
• Merchant acquiring
• Digital banking and agricultural banking solutions

Here are the key highlights for Q2FY25

• Credit-Deposit (CD) Ratio Q2FY25: 84.8%
• CASA (Current & Savings Accounts) Ratio Q2FY25: 32.0%
• Total Assets: ₹418,092 Crore
• Operating Profit: ₹975 Crore

7. IndusInd Bank- Ranked No. 7 Among Top 10 Private Banks in India

IndusInd Bank stands in the 5th position among the top 10 private banks in India. It has around 37 million customers nationwide.

It offers a variety of banking products, such as 

• Savings and current accounts
• Credit cards
• Loans
• Vehicle loans
• Home loans
• Gold loans

IndusInd Bank – Q3 FY25 at a Glance

Feature

Value

YoY Growth

QoQ Growth

Business & Banking Strengths

Category	Key Highlights
Bank Ranking	5th Largest Private Bank
Customer Base	42 million customers
Branch Network	7,135 branches across India
Digital Transactions	93% of total transactions
CASA Ratio	35% (Stable low-cost deposits)
Loan Mix	54% Retail, 46% Wholesale
Key Loan Segments	Vehicle Finance (25%), Microfinance (9%), Gems & Jewellery (3%)
Liquidity Coverage Ratio (LCR)	118% (Above regulatory requirement)
Capital Adequacy Ratio (CRAR)	16.46% (Tier 1: 15.18%, Tier 2: 1.28%)
Asset Quality	GNPA: 2.25%, NNPA: 0.68%, PCR: 70%

• Village Coverage: Services extend to 160,000 villages.
• International Presence: London, Dubai, and Abu Dhabi.

8. Federal Bank- No. 8 in the List of Top 10 Private Banks in India

Federal Bank is a preferred top private bank in India for personal, NRI, and business banking across India’s urban and rural areas.

Federal Bank’s emphasis on digital capabilities and initiatives has led to an 86% share of digital transactions. Thus, positioning it as one of the best among the top private banks in India.

It offers a variety of products, including:

• Savings accounts
• NRE savings accounts
• Debit and credit cards
• Loans
• Investment options
• Insurance.
• Banking services for small businesses

Federal Bank Q1 FY 2025 Financial Highlights

Basis	Q1 FY24	Q4 FY24	Q1 FY25
Net Advances (₹ Cr)	2,22,496	2,52,534	2,66,065
Total Deposits (₹ Cr)	1,83,487	2,09,403	2,20,807
Resident Savings Growth	–	–	4.3% QoQ
Core Deposits Share	–	–	98% of total deposits
Average Deposit Growth	–	–	7.1% QoQ, 20.6% YoY
Return on Assets (RoA)*	1.22%	1.30%	1.27%
Return on Equity (RoE)*	12.75%	15.73%	13.64%
Profit per Employee	–	–	₹ 26.54 lakh
Business per Employee	–	–	₹ 31.91 Cr
Quarterly Net Profit (₹ Cr)	–	–	₹ 1,010 Cr (Highest Ever)

9. IDFC First Bank- Positioned 9th Among the Top 10 Private Banks in India

Formed in 2018 by merging IDFC Bank and Capital First, IDFC First Bank is one of the best private sector banks in India.

This private sector bank emphasises zero charges on commonly used savings account services. It also offers lifetime free credit cards with no minimum spending conditions.

Key Highlights of Q3 FY25 

Category	Key Metrics
Customer Deposits	↑ 28.8% YoY to ₹ 2,27,316 crore
Retail Deposits	↑ 29.6% YoY to ₹ 1,80,752 crore
CASA Deposits	↑ 32.3% YoY (Savings: ↑ 32.9%, Current: ↑ 28.9%)
Cost of Deposits	Stable at 6.38% QoQ

Social Banking Initiatives

40 million customers financed, including:

1. 300,000 SMEs
2. 900,000 livelihood loans (e.g., cattle loans)
3. 1 million sanitation loans
4. Retail and rural loans (e.g., Kisan Credit Cards, gold loans).

10. AU Small Finance Bank- Leading Private Sector Bank in India

AU Small Finance Bank is another favoured one among the top private banks in India. 

It focuses on serving underserved segments. This private-sector bank offers products like savings accounts, loans, and digital banking.

Offering unique services compared to other top private banks in India, it was converted into a small finance bank in 2017. 

Provides a range of products, including:

• Savings accounts
• Loans
• Credit cards
• Fixed deposits
• Video banking
• AU 0101 App/NetBanking

One of the best private banks in India, it offers personal and business banking solutions.

Key Highlights for Q3 FY25 

Basis	Q3 FY25	YoY Growth
Net Interest Income (NII)	₹ 2,023 Cr	↑ 53%
Other Income	–	↑ 40%
Operating Profit (PPoP)	₹ 1,205 Cr	↑ 85%
Profit After Tax (PAT)	₹ 528 Cr	↑ 41%
Return on Assets (RoA)	1.5%	–
Return on Equity (RoE)	13.0%	–
Total Deposits	₹ 1,12,260 Cr	↑ 14.9% YTD

This ends our well-researched list of top private banks in India.

Now that you know the detailed features of top private banks in India 2025, it is time to learn a little extra about these private sector banks!

Technological Innovation in Banking- 2025 

Here are a few examples of top private banks in India using the latest solutions.

IndusInd Bank

Implemented an omnichannel experience, offering services like voice banking through Alexa and a suite of WhatsApp banking services.

Bandhan Bank

Overhauled its core banking system and expanded digital services through collaboration with Oracle.

This includes implementing Oracle Payments, Retail Loan Originations, and services for Retail Internet and Mobile Banking.

Axis Bank

Introduced an AI-powered conversational, interactive voice response system called AXAA. This allows customers to address their banking issues anytime, anywhere.

These initiatives show how these top private banks in India integrate technology to provide more accessible services.

Best Private banks significantly contribute to India’s economic growth. They play a crucial role in mobilising savings, providing credit, and facilitating investment. These are indeed essential for economic development.

• Private banks innovate with advanced technologies, digital services, and personalised financial products.
• Private banks promote competition, diversification, and efficiency in the banking sector.
• They adhere to RBI’s regulatory guidelines, anti-money laundering measures, and customer protection policies.
• Private sector banks implement risk management frameworks to mitigate credit, market, and operational risks. Thus ensuring safety for both the institution and its customers.

There are two sides to the coin, and the same applies to private banks in India. Even the best private banks experience roadblocks.

Now, apart from the private banks in India, which other types of banks are in India?

Let us take a look!

Types of Banks in India

The following are the main types of banks in India:

• Central Bank

The Reserve Bank of India is the country’s central bank, which regulates the banking system and monetary policy.

It acts as the banker’s bank, the government’s bank, and the supervisor of the financial system. It also issues currency and controls the foreign exchange reserves.

• Commercial Banks

These are the banks that provide banking services to the general public and the business sector.

SBI, ICICI, Axis, etc, all these fall under the category of commercial banks.

They accept deposits, lend money, transfer funds, issue drafts, and offer other financial products and services.

They are further divided into public sector banks, private sector banks, foreign banks, regional rural banks, and local area banks.

• Cooperative Banks

These are the banks that operate on the principle of cooperation and mutual help.

They provide credit and banking facilities to the rural and agricultural sectors, small businesses, and low-income groups. The state governments and the RBI control and regulate their work.

• Small Finance Banks

These are the banks that cater to the financial needs of the unserved and underserved sections of society. This could be small farmers, micro and small enterprises, and low-income households.

• Payments Banks

These are the banks that offer limited banking services, such as accepting deposits up to Rs. 2 lakh, issuing ATM cards, and facilitating digital transactions.

They do not provide lending services or credit cards. They mainly target migrant workers, low-income households, and small businesses.

• Specialized Banks

These are the banks that focus on specific sectors or activities, such as industrial development, export-import, housing, infrastructure, etc. They provide long-term finance, technical assistance, and advisory services to their clients.

Some examples of specialised banks are:

• Industrial Development Bank of India (IDBI),
• Export-Import Bank of India (EXIM)
• National Housing Bank (NHB)
• NABARD- National Bank for Agriculture and Rural Development

Difference Between Public and Private Sector Banks

Public sector banks are banks in which either the central or state government holds the majority stake. 

• They offer lower interest rates on loans and higher interest rates on deposits. 
• They also provide banking services to the rural and remote areas. 

However, they also face some challenges, such as low profitability, high non-performing assets, bureaucratic interference, and slow decision-making.

Private sector banks are banks in which private individuals and corporations hold the majority stake. These banks are registered under the Indian Companies Act and operate with more autonomy.

• They have a profit-oriented approach.
• They offer higher interest rates on loans and lower interest rates on deposits. 

The following table summarises the difference between public and private sector banks:

Difference between Public and Private Sector Banks

Basis	Public Sector Banks	Private Sector Banks
Ownership	Government	Private entities or individuals
Number of banks	11	21
Customer base	Large	Relatively small
Interest rate on deposits	High	Marginally lower
Interest rate on loans	Low	Marginally higher
Pension	Yes	No
Services	Basic and traditional	Advanced and modern
Innovation	Low	High
Customer satisfaction	Low	High
Non-performing assets	High	Low
Social responsibility	High	Low

Top Private Banks in India- FAQs

Source- RBI

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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.