1. State Bank of India | Largest Banks in India
Largest Banks in India: This is a public sector bank which has its headquarters in Mumbai. The chairperson of this bank is Ms. Arundhati Bhattacharya.
Year of establishment and history of the bank:
One can say that the year of establishment of the State Bank of India is 1955. The roots of this bank lie in the three Presidency banks. They are Bank of Bengal, Bank of Madras and Bank of Bombay. These three banks were merged together on 21st January 1921 to form the Imperial Bank of India. Later as per the State Bank of India Act of 1955, the Reserve Bank of India got controlling interest in Imperial Bank. Finally, on 1st July 1955 Imperial Bank of India became State Bank of India
Type of loans:
Some of the loans offered by this bank are
- Home loans
- Car loans
- Personal loans
- Education loan
- Gold loan
Advantages and types of a savings account:
SBI being the largest bank, it has several branches hence it has better accessibility. They have superb internet banking facilities. Customers can avail of facilities like ATM withdrawal, no minimum balance charges, etc. If you want to make payment for a government exam or any government website, you can do it easily through the online portal of the State Bank of India. They have different types of savings accounts like Savings Plus account, Yuva savings account, basic savings account, savings account for minors, small saving accounts, etc. Different types of debit cards are available like the Gold debit card, International ATM cum debit card, etc. With your savings account, you get multicity cheques. Other advantages include safe deposit lockers, nomination facility, and personal accident insurance by paying a small amount of premium. You can link your savings account to multi-option deposit account.
Advantages of current account:
When you have a current account with State Bank of India, you can make transactions with ease. They give facilities like an unlimited number of payments; you can also remit funds from anywhere in the country to your account, the minimum balance requirement is not very high. Other facilities include overdraft facility, free ATM cum debit card which makes a withdrawal of money easy. Monitoring and carrying out transactions is easy due to the efficient internet banking facility.
Thus as we can see SBI is a large and one of the best public sector banks. It provides some facilities to its customers. Therefore, it is always a great experience to the bank with the largest public sector bank.
2.ICICI Bank | Largest Banks in India
Largest Banks in India: ICICI Bank is an Indian multinational banking and Financial Services Company, founded in 1994 with its headquartered in Mumbai, Maharashtra, India. In 2014, it was the second largest bank in India regarding assets and third in terms of market capitalization. The bank offers a wide range of banking products and financial services to corporate and retail customers. In 1999, the Bank became the first Indian company and the first from non-Japan Asia to be listed on the NYSE.
ICICI Bank Products:
- Savings Account. FD, RD, iWish flexible RD
- Home Loan, Car Loan, Gold Loan, Personal Loan, Loan Against Securities, Commercial Business Loan, Two Wheeler Loan
- Credit Card. PL on Credit Card
- Life Insurance, Health Insurance
- Tax Solutions. Mutual Funds
- Agri Corporates
To approve a loan, open a savings account; apply for a credit card the customer needs to submit a set of documents. The standard documents are a photo, Id proof, address proof, income details, bank statement, PAN card, etc.
Type of Savings Account
ICICI Bank has designed a range of Saving Accounts to cater to your unique banking needs. Select the one which suits you best.
- Titanium Privilege Account
- Gold Privilege Banking
- Silver Savings Account
- Regular Savings Account
- Senior Citizens Savings Account
- Young Stars Account
- Salary Account
- Current Account
- Advantage Woman Savings Account
- Pockets Savings Account
- 3-in-1 Account
Let’s discuss the ICICI Bank savings account interest rates. A Domestic account with the checkbook facility is 4.00%. The minimum Monthly Average Balance (MAB) for Metro, Urban – Rs. 10,000, Semi-Urban – Rs. 5,000 and Rural – Rs.2, 000.
Enjoy a convenient, safe and rewarding banking experience with ICICI. Your money is always within your easy reach. You can easily access your money whenever you need it and wherever you need it. The bank has extensive branch and ATM network and through personalized 24×7 phone banking.
ICICI bank gives you Online Recharge facility. You may recharge the following easily from the comfort of your couch.
- Prepaid Mobile
- DTH
- Data Card Recharge
Transfer Funds facility from ICICI Bank
- UPI
- NEFT
- RTGS
- IMPS
- Fund Transfer Abroad
- Cardless Cash
You may make payments to registered billers through the Internet Banking service of ICICI Bank. The internet banking facility gives you the chance to explore the power of simpler and smarter banking.
Enjoy faster processing, minimum documentation, striking rates of interest and flexible repayment option with ICICI Bank.
3. HDFC Bank | Largest Banks in India
Largest Banks in India: The Housing Development Finance Corporation (HDFC) is a well-recognized Indian banking and financial services company, is having its headquarters in Mumbai. Founded in 1994, this privately owned organization at present comprises of more than ninety thousand employees.
HDFC- Second Largest Private Lenders
Being known as the second largest private lender regarding assets in India, it holds its presence in abroad that include Dubai, Bahrain, and Hong Kong. As per recent studies conducted, HDFC has bagged the top position in India by market capitalization. It has been ranked the 69th position in 2016 BrandZ Top 100 Most Valuable Global Brands.
HDFC Bank provides a wide number of series in the field of digital offerings that include:
- 10-second personal loan
- PayZapp
- Chillr
- Watch Banking
- SME Bank
- E-Payment Gateways
- 30-Minute Auto Loan
- Two-wheeler Loan
- Digital Wallet and much
Services and Products Offered
This market leader provides a plethora of services along with products that include:
- Retail Banking
- Wholesale Banking
- Insurance
- Personal Loans
- Home Loan
- Car Loan
- Gold Loan
- Treasury Auto Loans
- Credit Cards
- Loan against Property etc.
The management is on its way to deploying robots at selective branches. Those robots will offer astonishing options to customers. Those options include:
- Cash withdrawal and deposit
- Fixed deposits
- FOREX
- Demat services
HDFC has merged itself with Times Bank, the first merger of two different private banks into the category of New Generation Private Sector Banks.
Types of Accounts by HDFC
The HDFC Bank Board has recently approved the acquisition of CBoP against INR 95+ Billion in one of the top mergers in the Indian financial sector. It also offers customers a wide range of bank accounts from where one may choose the best. They include:
- Regular Account
- Premium Account
- Kids Account
- Account for Senior Citizens
- Personal or Business Account
- Salary Account
- Safe Deposit Locker
- Rural Accounts
The management is open to all and is always forward to provide the best solution for all sorts of issues. HDFC facilitates the receipt of free statements to running email id. If somebody asks you to name your best friend, your answer will be your smartphone. Right! HDFC also facilitates banking through your smartphone against a few tapings.
4. Standard Chartered Bank | Largest Banks in India
Largest Banks in India: This is a multinational banking and finance company which has a British origin. It has its presence in different countries including India. The headquarters of this bank is in London.
Year of establishment and history:
Standard Chartered PLC was established in the year 1969. The Standard Bank of British South Africa and the Chartered Bank of India, Australia and China merged to form this bank. The predecessors of this bank have their unique history. The Standard Bank was founded in London while the Charter Bank was founded by James Wilson after getting a Royal Charter from Queen Victoria in the year 1853. The bank opened in Bombay, Kolkata, and Shanghai in 1858.
Types of loans:
The different types of loans given by Standard Chartered in India are:
- Personal loans
- Loans against Securities
- Loans against term deposits
- Mortgage and home loans
- Loans against property
Types of Accounts:
Savings account:
They have different types of saving account like Super value account, Parivaar account, employee bank account, 3-in-1 account, etc. The account statement and passbooks help in keeping track of your account. Interest on the savings account is calculated @ 4% p.a. The most basic account gives facilities like no minimum balance, unlimited free access to Standard Chartered ATM, wide network and free ATM benefits. Most of the savings accounts of this bank have features like the International debit card, phone banking, Internet banking, locker facilities, doorstep banking, etc.
Current account:
There are Business Essential account, Smart business account, and International Trade account. There is no minimum daily balance required. There are convenience and flexibility by freeing up of funds. Their current accounts have added advantages of foreign exchange services and trade products. Their current accounts are a cost-saving option which gives freedom to choose trade tariffs, relationship manager who provides expert advice, etc.
Benefits of Your Standard Chartered Bank Cards:
- 360o Rewards
- Activation Offer
- Offers and discounts
- Bonus points
- Balance transfer
- Kuch Bhi on EMI
- Value-added benefits
Documents Required
- Identity Proof
- Address Proof
- Photo
- Income Documents
- Bank statement
This is one of the most promising banks, which provide several benefits and facilities to its customers. Whether you want a savings account or a current account opt for this bank for a seamless banking experience.
5. Axis Bank | Largest Banks in India
All That You Need to Know About Axis Bank
Largest Banks in India: This private sector bank has its registered office in Ahmadabad and head office in Mumbai. Here is an insight into the various facets of this bank which has Ms. Shikha Sharma as the MD and CEO.
Year of establishment and history of the bank:
This bank was established in the year 1993. After the government had allowed new private banks to be established, Axis Bank became the first such bank to operate in India. The bank was promoted by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd.
Types of loans available:
- Loan against property: Get a loan against your existing residential or commercial property. The rate of interest starts from 11.40%
- Personal loan: Minimum – Rs. 50,000 and Maximum – Rs. 15,00,000. The repayment tenure can range from 12 to 60 months. The rate of interest starts at 15.50%
- Car loans: The bank offers New car loan, pre-car loan, and loan against the car. The tenor, rate of interest and loan amount differs.
- Home loans: You may get a minimum of Rs 3lacs while the maximum depends on Combined Income. There are two types of the Interest rate applicable: fixed and floating. The maximum permissible tenor is 30 yrs.
- Education loan: Minimum – Rs. 50,000. Maximum Rs. 20,00,000 to study in India maximum Rs. 30,00,000 for studying abroad. The loan will cover tuition fees, hostel charges (if any), the cost of books, etc.
- Loan against shares: Minimum – Rs. 1,00,000, Maximum – Rs. 20,00,000
- Loan against Fixed Deposits: Get up to 85% of the value of your Fixed Deposit
- Loan against securities: The bank offers up to 85% of security value, and you do not have to pay any extra charges for early closure.
The bank offers a wide range of loans that fits into your requirements and lets you achieve your goals.
The various types of account facilities from Axis Bank:
- Salary Account
- Current Account
- AxisDirect Invest Account
- Safe Deposit Locker
- Safe Custody
- National Pension System (NPS)
- Pension Disbursement Account
- Sukanya Samriddhi Yojana
- Axis Active
Various deposit schemes from Axis Bank:
- Fixed Deposits
- Recurring Deposits
- Tax Saver Fixed Deposit
- Fixed Deposit Plus
- Encash 24 Flexi Deposit
6.Kotak Mahindra Bank | Largest Banks in India
About Kotak Mahindra Bank
Largest Banks in India: Kotak Mahindra Bank is one of the best Indian private sector banks, and it has headquartered in Mumbai, India. To carry on banking service, Reserve Bank of India (RBI) gave the banking license to Kotak Mahindra Finance Ltd. in February 2013. It provides a huge range of financial services and banking services for retail and corporate clients through the different kinds of channels in the areas of investment banking, personal finance, wealth management and life insurance. As per 2016 record, this bank has 2044 ATM centers and 1,336 branches. By market capitalization, it was the third largest private bank In India.
History of Kotak Mahindra Bank
Uday Kotak created it in the year of 1985. And in 2003, February the group’s flagship company, Kotak Mahindra Finance Ltd. Received a banking license from RBI. And they are the first non-banking financial company in India to be converted into a bank.
Types of loan available in Kotak Mahindra Bank bank
In this bank, you will get different kinds of loan like
- Car Loans
- Personal Loans
- Home loans
- Education loan
- Crop loan
- Gold loan
- Loan against securities, etc.
List of documents required for Loan in Kotak Mahindra Bank
- Application Form
- 1 Photograph
- Identity Proof
- Residence Proof
- Age Proof
- Signature Proof
- Ownership Proof
- Income Details
- Bank Account Statements
Different types of savings account and its advantages in Kotak Mahindra Bank
There are different kinds of savings accounts available in this bank like Edge saving account, JIFI Pro, Pro saving account, JIFI saver, ACE saving account, Silk- women’s savings account, junior saving accounts, grand saving accounts, my family savings account, Classic savings accounts, Nova savings accounts, Alpha savings accounts, sampans savings account and Platina savings account, etc. Most of the savings accounts are offering 6% interest on your saving account balance and a minimum amount of average monthly balance. Each and every account has different advantages.
Different types of current account and its advantages in Kotak Mahindra Bank
Kotak Mahindra Bank also offers different types of current account for business owners like PRO Plus, Elite Plus, ACE Plus, Astra 05, Astra 10, Astra 25, NEO, Edge, Trader PRO, Global Trade, Trader classic, etc. Each and every current account offers some attractive advantages. All the accounts offer some different and unique advantages. So, you can choose any one as per your business requirement and necessary.
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