Banks in India 2026: a ranking built on verified facts
A ranking of banks in India that serve private customers, built only on verifiable facts: since when the bank has been operating, whether its deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), whether it holds its own current rating from a recognised agency, whether it publishes annual reports, whether you can open an account online with video KYC, whether it supports UPI, and whether its service charges, deposit rates and grievance redressal procedure are published. Banks are taken from the Reserve Bank of India (RBI) list of banks in India. Every fact links to its source with the date we checked it. We do not compare the size of rates or fees. This is not financial advice. Places are not for sale.
| # | Company | Who it serves | ||||
|---|---|---|---|---|---|---|
| 1 | State Bank of India | 96 | 1806 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 2 | HDFC Bank | 93 | 1994 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 3 | ICICI Bank | 93 | 1994 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 4 | IDFC FIRST Bank | 89 | 2015 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments 24/7 |
| 5 | Punjab National Bank | 86 | 1895 | Yes | Yes | Deposit protection Agency rating App Instant payments |
| 6 | Axis Bank | 85 | 1994 | Yes | Not verified | Deposit protection App Account online Instant payments |
| 7 | IndusInd Bank | 85 | 1994 | Yes | Not verified | Deposit protection App Account online Instant payments |
| 8 | Kotak Mahindra Bank | 76 | 2003 | Yes | Not verified | Deposit protection App Account online Instant payments |
| 9 | Bank of Baroda | 71 | 1908 | Yes | Not verified | Deposit protection App Instant payments |
| 10 | Canara Bank | 65 | 1906 | Yes | Not verified | Deposit protection App Instant payments |
-
- Licensed since
- 1806
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 96% backed by facts
-
- Licensed since
- 1994
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 97% backed by facts
-
- Licensed since
- 1994
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 93% backed by facts
-
- Licensed since
- 2015
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
- Publishes annual reports
Details Visit site ↗ 97% backed by facts
-
- Licensed since
- 1895
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 86% backed by facts
-
- Licensed since
- 1994
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Publishes annual reports
Details Visit site ↗ 85% backed by facts
-
- Licensed since
- 1994
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Publishes annual reports
Details Visit site ↗ 85% backed by facts
-
- Licensed since
- 2003
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Member of a deposit protection scheme
- Publishes annual reports
- Has a mobile app
Details Visit site ↗ 78% backed by facts
-
- Licensed since
- 1908
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Publishes annual reports
Details Visit site ↗ 71% backed by facts
-
- Licensed since
- 1906
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Publishes annual reports
Details Visit site ↗ 65% backed by facts
How we calculate the Score
40%
Safety
The year the bank was licensed (from the central bank's register or, where the register shows no date, from the official website), membership of a deposit protection scheme, a current rating of the bank itself from a recognised agency (a parent group's rating does not count) and published annual reports.
25%
Digital services
Whether there is a mobile app, whether a new customer can join without visiting a branch, whether the bank supports the national instant payment system, and whether 24/7 support with a human agent is available.
15%
Products
How many of six main retail lines the bank offers: current account, savings or deposits, cards, consumer loans, mortgages and investments.
20%
Transparency
Whether tariffs and current deposit rates are published without logging in (we count the fact of publication, not the level of the rate), whether the complaints procedure is described, and how many branches the bank has in the country.
How to choose a bank
Check the licence in the register
Only banks licensed by the central bank or supervisor may take deposits. Find the bank in the register on the regulator's website and make sure the licence is valid: the National Bank in Belarus, the Bank of Russia, ARDFM in Kazakhstan, KNF in Poland, BaFin in Germany.
Find out whether your money is protected
Check whether the bank belongs to a deposit protection scheme, which accounts it covers and what the compensation limit is. These are national rules and can change, so read them on the scheme's own website.
Read the tariffs, not the advert
The cost of an account is set by the contract and the price list: maintenance fees, cash withdrawals, transfers, conditions for a free plan. Make sure the document is current and keep a copy of the terms you signed up to.
Compare rates on the day you decide
Deposit and loan rates change often, so we do not publish them. Look up the rate on the bank's official website on the day you apply, and read the terms: duration, top-ups, early withdrawal, effective rate.
Think about how you will use the bank
If you need cash and face-to-face help, look at branches near you; if not, look at the app and support. Your account in one bank does not have to be your only one.
Protect access to your account
Install the app only from a link on the bank's official website, check the site's address, and never share codes from messages. Bank staff do not ask for them on the phone.
Know where to complain
First file a written complaint with the bank and keep its reference number. If the answer does not satisfy you, go to the financial ombudsman where one exists or to the supervisor, then to court. The route is usually published on the bank's website.
Frequently asked questions
Who licenses and supervises banks in India?
The Reserve Bank of India (RBI). It publishes the list of banks operating in India — public sector, private sector, foreign, small finance, payments and other banks — on its website (rbi.org.in, Banks in India). Before opening an account, check that the bank's full legal name is on that list.
How are bank deposits protected in India?
Deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). According to the RBI, each depositor in a bank is insured up to ₹5,00,000 (Rupees Five Lakhs) for principal and interest held in the same right and same capacity; deposits in different branches of one bank are added together. The premium is paid by the bank, not the depositor.
Where do I complain about a bank?
First use the bank's own grievance redressal procedure: the branch or customer care, then the bank's nodal or principal nodal officer. If the bank does not reply or you are not satisfied with the answer, you can complain to the RBI Ombudsman under the Reserve Bank Integrated Ombudsman Scheme. We record only whether a bank publishes this procedure on its website.