The top banks in India stand out for different reasons. Some prioritize strong digital tools, others provide nationwide reach, and others specialize in helping customers manage money across borders. The right bank for you depends on your goals and what your day-to-day finances require.
Key takeaways
- India has a wide variety of banks, from public sector giants like SBI and PNB to private digital leaders like HDFC, ICICI, and Kotak Mahindra.
- The best bank in India for you depends on your needs. Consider your preferences when it comes to digital access, international support, high savings rates, or government integration.
- If you’re focused on simple, reliable service, public sector banks like Canara Bank or Union Bank of India offer strong national reach. Non-residents and expats may prefer banks with global partnerships and easy cross-border services.
- Need to support family back home? Services like Western Union offer a fast, reliable way to send money to India, no matter which bank they use.
Comparing the best banks in India
| Bank name | Best for | Products | Special features |
| Axis Bank | Digital-savvy users | Savings, loans, credit cards, NRI accounts | Strong mobile app, wide ATM network, innovative services |
| Bank of Baroda | Government-linked services | Savings, current, fixed deposits, home loans | Merger with Dena & Vijaya Bank expanded its reach and offerings |
| Canara Bank | Traditional banking experience | Savings, fixed deposits, retail loans | Trusted legacy bank with strong rural presence |
| HDFC Bank | Overall private banking | Savings, credit cards, personal/business loans | Advanced digital banking tools and robust customer service |
| ICICI Bank | Expats and international banking | NRI services, savings, forex, investment products | Strong global presence and partnerships; easy online onboarding |
| IDBI Bank | Value-focused banking | Retail banking, loans, NRI services | Competitive interest rates; government-backed security |
| Kotak Mahindra Bank | High-interest savings | Savings, investments, NRI accounts | Up to 7% interest on savings accounts; seamless mobile banking |
| Punjab National Bank | Government employees, pensioners | Savings, loans, PPF, senior accounts | Extensive government integrations and senior citizen support |
| State Bank of India | Nationwide access and reliability | Savings, NRI services, home loans | India’s largest bank; massive branch and ATM footprint; NRI-friendly |
| Union Bank of India | Basic banking and accessibility | Savings, current, MSME loans | Good for first-time account holders; merged with Andhra and Corporation Bank |
Top banks in India
If you’re looking to learn more, we’ve taken our list of the top 10 banks in India above and gone into more detail below. We’ve included a brief overview along with each bank’s strengths, as well as their ideal customer, to help you decide which might best suit your needs.
1. Axis Bank
Axis Bank is one of India’s top private-sector banks, offering a strong mix of traditional services and cutting-edge digital tools.
Customers can utilize checking and savings accounts, debit and credit cards, investment services, as well as personal, home, and auto loans. Axis offers a robust mobile app for digital-first banking, and dedicated solutions for non-resident Indians (NRIs).
Strengths:
- Tech-forward digital banking experience
- Variety of loans and credit card offers available
- Offers NRI accounts and global money transfer services
Ideal for:
- Expats and NRIs managing finances from abroad
- Digital-first users who prefer banking via app or online
- Customers relocating to India
2. Bank of Baroda (BoB)
The Bank of Baroda is one of India’s largest public sector banks, boasting a long-standing presence and a vast national and international network. Following its merger with Dena Bank and Vijaya Bank, BoB expanded its footprint and service offerings, making it a reliable choice for a wide range of customers.
BoB offers checking and savings accounts, fixed deposit accounts, government bonds, and a variety of loan options.
Strengths:
- Government-backed bank with extensive reach
- Offers a full range of personal, business, and NRI banking services
- Strong global presence in 17 countries
Ideal for:
- Government employees and pensioners
- Expats or NRIs looking for cross-border account management
- Customers in rural or semi-urban areas seeking accessible banking
3. Canara Bank
Founded in 1906, Canara Bank is one of India’s oldest public sector banks. Known for its strong customer service and presence in rural and semi-urban regions, the bank continues to offer stable, accessible financial services backed by a legacy of reliability.
Customers can access checking and savings accounts with online account opening, term deposits, investment products, and multiple loan options. Canara also supports NRI customers.
Strengths:
- Established reputation with over a century of service
- Extensive branch network across India, especially in rural areas
- Offers savings, loans, fixed deposits, and NRI banking services
Ideal for:
- Customers who prefer in-person banking with personalized service
- Residents in rural or smaller towns seeking consistent access
4. HDFC Bank
HDFC Bank is one of India’s most prominent private-sector banks, known for its cutting-edge digital tools and excellent customer service. With more than 9,000 branches and 21,000 ATMs, HDFC is widely accessible. Standout services include a user-friendly mobile app, and award-winning wealth management services for high-net-worth individuals (HNIs).
Strengths:
- Seamless digital experience across web and mobile
- Wide variety of retail banking products: credit cards, loans, investments
- Strong customer support and security features
Ideal for:
- Tech-savvy customers who prioritize mobile and online banking
- Students and younger customers who value fast, app-based services
- HNIs desiring wealth management services
5. ICICI Bank
ICICI Bank is a leading private-sector bank in India, offering a wide range of services, including checking and savings accounts, credit cards, and loan options. ICICI also boasts global partnerships and a strong focus on NRI banking services.
Strengths:
- Comprehensive digital NRI banking services
- User-friendly mobile and internet banking platforms
- Strong portfolio of loans, investment products, and forex services
Ideal for:
- Expats and NRIs managing finances between countries
- Professionals and entrepreneurs needing flexible banking options
6. IDBI Bank
IDBI Bank is a government-backed institution offering a mix of retail and corporate banking services. With competitive interest rates and a simplified onboarding process, it appeals to customers seeking dependable service and straightforward financial products.
Customers can choose from checking and savings accounts, family banking services, loans, credit cards, and a variety of investment options. Residents and NRIs can take advantage of digital tools like online account opening and mobile banking.
Strengths:
- Backed by the Government of India and LIC
- Attractive interest rates on savings and fixed deposits
- Easy online account opening and loan processing
Ideal for:
- Budget-conscious savers and first-time account holders
- Individuals seeking secure, no-frills banking
- NRIs looking for government-supported options in India
7. Kotak Mahindra Bank
Kotak Mahindra Bank has built a strong reputation for offering high-interest savings accounts and a convenient digital banking experience. As one of the newer private-sector banks, it’s earned attention for innovation, customer-first design, and a flexible suite of services for individuals and businesses alike.
Strengths:
- Competitive savings interest rates—up to 5.5% in some cases
- Fast-growing digital banking platform with intuitive mobile features
- Flexible account options, including zero-balance and NRI accounts
Ideal for:
- Young professionals and digital-first customers
- Individuals looking to grow savings with higher interest
- Expats and NRIs who want a modern, mobile-friendly bank
8. Punjab National Bank
Punjab National Bank is one of India’s oldest and largest government-owned banks, with a nationwide presence. Known for its broad accessibility and specialized offerings for senior citizens and government employees, PNB provides dependable, community-focused banking.
International customers can access checking and savings accounts in GBP, EUR, or USD and manage their accounts using the PNBIL mobile app.
Strengths:
- Extensive branch and ATM network across urban and rural India
- Specialized schemes for pensioners, senior citizens, and government workers
- Offers NRI services and international banking support
Ideal for:
- Retirees and government employees seeking stable banking solutions
- Families in smaller towns or semi-urban areas
- NRIs looking for a familiar, government-backed bank
9. State Bank of India (SBI)
State Bank of India is another government-owned institution, widely recognized domestically and internationally. SBI offers a full range of services across personal and corporate banking and provides online banking tools for residents and NRIs alike.
Strengths:
- Nationwide network with thousands of branches and ATMs
- NRI banking and global remittance services
- Broad range of personal and business banking solutions
Ideal for:
- NRIs and expats managing finances in India
- Residents in any region looking for reliable, government-backed banking
- Students, families, and pensioners needing easy in-person support
10. Union Bank of India (UBI)
Union Bank of India is a government-owned bank that has expanded significantly following its 2020 merger with Andhra Bank and Corporation Bank. Known for offering accessible and straightforward financial services, UBI focuses on financial inclusion, serving both urban and rural customers across India.
UBI offers checking and savings accounts, including digital accounts and pensioner savings. Customers can also access term deposits, investments, and loan options. NRIs can manage accounts online or work with branches in Hong Kong, Sydney, Dubai, and London.
Strengths:
- Simple account options for individuals, students, and small businesses
- Strong focus on expanding rural and semi-urban banking access
- Government-owned with a growing digital presence
Ideal for:
- First-time account holders and students
- Small business owners seeking affordable loan products
- Customers in rural areas needing dependable, everyday banking
How to choose the right bank in India
Choosing the right bank in India depends on what you need most—convenience, digital access, international support, or low-cost services. With so many banks offering similar products, it helps to think about your personal goals and lifestyle:
- For residents: Look for a bank with a strong local branch network, especially if you prefer in-person service. Public sector banks like SBI or PNB offer widespread access and government-backed support.
- For expats and NRIs: Banks like ICICI, HDFC, and Axis offer robust NRI services and make it easier to manage cross-border accounts. Consider whether the bank supports international money transfers and foreign currency services.
- For students and first-time account holders: Consider banks that offer zero-balance accounts and low fees, such as Kotak Mahindra or Union Bank of India.
- For savers: Compare interest rates on savings accounts and fixed deposits. Some banks like Kotak offer higher returns than others.
- For digital-first users: Private banks tend to lead in app functionality and ease of online banking.
If you’re frequently sending money across boarders, factor in exchange rates too. You can check the USD to INR rate before sending money to or from India.
Send money abroad
No matter which bank you choose, it’s important to have options that fit your needs. While many traditional banks cover standard transfers, Western Union can further support your international money management.
Download our app to send money or send money now to India with flexible payout options, from bank deposits to mobile wallets and more.
FAQs
Banks like ICICI, HDFC, and Axis Bank are popular among expats for their strong NRI services and digital platforms that simplify cross-border account management.
Foreigners often prefer banks that offer NRI accounts, multi-currency support, and English-language services. ICICI Bank and HDFC Bank are widely recommended for their ease of use and global presence.
Most major banks, including SBI, ICICI, Axis, and Kotak Mahindra, offer NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts for non-residents. Requirements may vary, so it’s best to contact the bank directly.
Many Indian banks support wire transfers, but for flexibility and speed, services like Western Union’s international money transfers offer an easy way to send money internationally with multiple payout options.
