Largest Banks in India: Public & Private Banks


12 Apr 2021 | 5 min read

Money requirements are unpredictable that anyone cannot just afford every necessity of life. All various banks offer different types of loans to customers. These days, if you need to get more options to check the best banks in India, there are multiple options available for the applicants. But you should know about the public sector banks in India that also help the individuals to avail the loans in a simple way. To check out the interest rate provided by the bank, you need to read the article and check the best banks offering interest rates.   

List of largest banks in India 2022  

1. State Bank of India (SBI)   

State Bank of India is headquartered in Mumbai. The State Bank of India was founded in 1806 as a bank of Calcutta. It offers loans to individuals with 24,000 branches in India. There is a total number of 5,8559 ATMs available in India. This bank is a public sector bank with the largest asset as well as income.   

Benefits of State Bank of India   

  • The bank offers personal loans across various categories and the product of these categories are SBI Xpress Credit Loan, SBI Saral Personal Loan, Loan to pensioners, and SBI Festival personal loan.   
  • The maximum loan amount sanctioned under this loan scheme can go up to 25 times the individual’s monthly salary.   
  • SBI is known as a brand with trustworthiness and thus, personal loans from SBI can be rightfully called a reliable option.   
  • The interest rate applies to SBI personal loans is starting from 12.45% up to 14.95% p.a.   
  • It is eligible for the user to avail an SBI Personal Loan Scheme, thus, the individual must be either a salaried person or self-employed (Doctor, Engineer, Architect, CA, or MBA with minimum 2 years of experience)   

2. HDFC Bank  

HDFC stands for Housing Development Finance Corporation which is a well-known private bank in India. It is established in 1994. HDFC Bank is headquartered in Mumbai. It offers loans to individuals with 4,787 branches in India. There is a total number of 1,3514 ATMs available in India. This bank is a private sector bank with the largest asset as well as income.   

Benefits HDFC Bank   

  • HDFC Bank offers personal loans at highly competitive interest rates starting from 10.99% p.a.  
  • The salaried and self-employed applicants are eligible to apply for a personal loan with a well-known for approving loans swiftly and with minimal documentation.   
  • This loan is offered to the individual having quick and transparent loan processing and apply for personal loans in India.   
  • The existing account holders may avail of special offers on interest rates and in certain cases, loan charges may also waive.   
  • The bank has promoted their pre-approved 10-second paperless loan offer.   

3. ICICI Bank   

ICICI Bank offers 4,822 branches in India with 15,159 ATMs available. The ICICI Bank is also headquartered in Mumbai. However, it is one of the most reputed and top India Banks in India. It is offered a competitive interest rate to individuals.   

Benefits of ICICI Bank   

  • The applicant will get personal loan options among three categories such as wedding loans, holiday loans, home renovation loans, and other loans.   
  • The interest rate is charged on this bank on a daily reducing balance and it is a minimum of 11.29% p.a.  
  • Easy documentation and simple repayment options are required to avail ofICICI Bank personal loan.   
  • The applicant can avail of the loan whether he/she will be a salaried or self-employed individual. However, the eligibility criteria for these two categories vary from bank to bank.   

4. Punjab National Bank   

Punjab National Bank was established on April 12, 1985, in Lahore under the leadership of Lala Lajpat Rai and it is headquartered in New Delhi. There are overall 11437 branches available in India. Including this, there are a total of 8985 ATMs available in India.   

Benefits of Punjab National Bank   

  • Punjab National Bank offers a personal loan scheme which is categorized into two categories as Public loan scheme and personal loan scheme to the pensioners.   
  • This bank offers the income of the spouse while calculating repayment capacity for sanctioning loans.   
  • This loan is suitable for defense personnel, central/state government employees, and self-employed professionals.   

5. Axis Bank   

Axis Bank was founded in the year 1993 in Ahmedabad as a part of the Unit Trust of India (UTI) with top-listed banks in India and offers consumer banking, corporate banking, credit cards, finance, and insurance, investment banking, private equity, mortgage loans, and more. Axis Bank has more than 17,315 ATM branches in India.   

Benefits of Axis Bank   

  • This bank is offering a personal loan for the applicant’s short Turn Around Time (TAT). The bank has a record of declaring the result within 30 days from the date of receipt of the application.   
  • The interest rate is starting from 11.49% for Axis Bank's loan is quite reasonable.   
  • This offers loans only to salaried individuals and self-employed individuals not having a regular source of income for the applicant who does not qualify for the loan approval process.   
  • The bank also offers Axis reward points to loan applicants depending upon the loan amount they have borrowed. It can be easy to apply for a loan via the online or offline process.   

6. Canara Bank   

Canara Bank offering personal loans to individuals at a low-interest rate. The bank has established in 1906 and it is headquartered in Bangalore. There are 11,437 ATM branches available in India.   

Benefits of Canara Bank   

  • This bank offers different accounts such as savings account, fixed deposits account, current account, and more.   
  • Canara Bank offers housing loans, vehicle loans, and personal loans to individuals at different loan amounts.   
  • This bank offers different banking services such as consumer banking, retail banking, commercial banking, private banking, mortgage credit cards, asset management, and pensions, and more.   

7. IDBI Bank  

IDBI Bank stands for Industrial Development Bank of India which is a public sector bank and founded in July 1964 to finance large industries as a special act of parliament. It is among the most trusted and topprivate banks in India. The bank is headquartered in Mumbai and makes a convenient choice for corporate banking, private banking, finance and insurance, mortgage loans, private equity, and more.   

Benefits of IDBI Bank    

  • This bank provides easy access and quick solution to individuals.   
  • Various loan products such as home loans, car loans, education loans, and personal loans.   
  • You can easily choose the EMI amount of the loan.   
  • The user will get more options to choose the interest rate.   


The described list of banks above are offering an attractive interest rate. However, there are many banks and NBFCs offering the maximum loan amount, attractive interest rate, and flexible repayment tenure. Some of these banks are IDBI Bank, Canara Bank, Axis Bank, Punjab National Bank, State Bank of India (SBI), and HDFC Bank offered to the individuals. For further details, you can visit the official site of the bank or contact

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