Did you know about these top 10 safest banks in India?

If you are reading this blog, it means that you are curious about the safety of your funds and you give it a priority and that’s undoubtedly appreciable and great! Well, no single bank can be stated as the best bank in India since every bank has one or some distinct points that make them best in the banking space.

Although, we have drawn the list of top 10 banks in India that can be stated as the safest banks since they have proved it several times not to us but to its customers and the banking community. Here these are:

State Bank of India

Without any doubt, on the top of the list, SBI stands out as the best and safest bank in India. The State Bank of India is also the leading bank in India when it comes to the branch network, ATMs, total assets managed, market cap, etc.

With an employee tandem of around 3 lakhs, SBI holds around 20% of the Indian banking industry. The bank has its corporate office in Mumbai; alongside 14 local head offices and 57 zonal offices are situated at major cities spread across the nation.

The bank possesses more than 24,000 branches and over 59,000 ATMs across India. SBI is the leading among the largest banks by assets in India; it manages assets worth over 500 billion USD which is about to cross 600 billion USD by the end of 2020.

Consequently, last year in 2019, SBI has got 236th rank in the Fortune Global 500 list of the largest corporations in the world of 2019. Alongside this, it also received the award of ‘best transaction bank & best payment bank in India’ in the same year. Therefore, undoubtedly, if you possess an account in SBI, be rest assured for the powerful safety.

HDFC Bank

Another safest bank in India is HDFC Bank and you will be amazed that it has got India’s No.1 Bank title in Forbes’ world’s best bank report. The bank has around 1 lakh permanent employees and also possesses its presence in foreign, like Bahrain, Hong Kong and Dubai.

The Bank is also known as the largest private sector bank in India by assets which is over 200 billion USD. Alongside, it is also the largest bank in India in market capitalisation view at present.

Corporation bank

Corporation Bank is another bank on the list of safest banks in India. The bank is a public-sector banking entity which has its headquarter in Mangalore, India.

With over 2,500 branches, 3000 ATMs and 4700 branchless banking units across the country, the bank has a Pan-India presence. The Bank also received the award of “Best MSME Bank-Winner” in the year 2018 during the 6th ASSOCHAM SMEs excellence award ceremony held by the associated chambers of commerce & industry of India (ASSOCHAM).

ICICI Bank

ICICI holds the 2nd rank when it comes to total assets managed by a bank in India. Besides, ICICI Bank is also the 2nd largest bank in India with regards to assets and market capitalisation.

ICICI Bank is a leading and one of the safest private sector banks in India. The Bank possesses a total asset of over 10 trillion at present. With a network of over 5,000 branches and 15,000 ATMs across India, ICICI Bank provides Pan-India service.

Punjab National Bank

PNB stands out as the 3rd largest bank in India. It is one of the leading Indian banks which has its roots dispersed across the globe. PNB has its headquarter in the national capital city - New Delhi, India.

Additionally, PNB possesses a strong customer base of over 80 million; alongside around 7,000 branches and 10,700 ATMs across the nation makes it a reliable and a safe bank option.

Bank of Baroda

Bank of Baroda is the 4th largest bank in India in terms of total asset management. As per market capitalisation, BOB is undervalued. Moreover, it serves more than 82 million customers across 22 nations.

With a network of over 5500 branches, Bank of Baroda remains among the most reliable and safest banks in India.

Canara Bank

With over 3,200 branches and 4,000 ATMs, Canara Bank remains trustworthy and safe to maintain your funds. The bank manages over Rs. 7 trillion assets.

Axis Bank

Another bank in the list of top safest banks in India in is Axis bank which also comes 3rd in the list of private sector banks in India. The bank possesses over 2200 branches, 12,000 ATMs, 40,000 employees. Furthermore, the bank maintains total assets of over 54 billion USD.

Bank of India

Bank of India possesses over 5,000 branches across India including specialized branches. The bank is a commercial bank with its headquarter located in the commercial capital of India - Mumbai and it also holds the name among the top 5 banks in India among many articles spread over the internet.

IDBI Bank

Last but not the least in the list of the safest banks in India is IDBI Bank. The bank possesses over 1,100 branches and 2,000 ATMs throughout the nation. Additionally, the bank has over 15,000 employees which shows that the bank is dedicated to serve its customers. It manages total assets of over 42 billion USD.

Final Stroke
There are several popular banks in India but this will not be fair to state one as the safest bank in India, although, above is the list of top 10 banks in India which remains positive and safest, so, even if you don’t possess your account among any of the above-mentioned banks or possess your account in a foreign bank in India, there is no need to worry, you can still check out multiple aspects of the bank such as total branches, total managed assets, market cap., etc.