Best Private Banks in India to Look for

Best Private Banks in India to Look for When it comes to fast and efficient banking services, private banks win the battle against their public sector counterparts more often than not. Besides, they offer value-added services such as doorstep banking, which makes them the favourite of class customers, if not the mass customers. The products designed by these banks are in line with the rapidly changing consumer behaviour. However, to make the most, you must choose from the ​best private banks in India​. To make it easy for you, we have listed out the coveted names.

HDFC Bank Arguably, the largest private sector bank in India, HDFC runs across urban and semi-urban areas through numerous branches and ATMs. When it comes to products, it has a lot to offer from loans to deposits. Let’s take a quick look at them.

HDFC Personal Loan HDFC Bank has the best personal loans up the sleeve. It customizes taking into account the income and workplace of an individual. If the credit score is found to be good, it can customize the offer further. The loan comes at an interest rate as low as 10.75% per annum. You need to pay the processing fee at upto 2.50% of the loan amount, with the minimum and maximum being ₹2,999 and ₹25,000, respectively. The loan can be disbursed to your account in a minimum of 4 hours to a maximum of 1 week, subject to the successful documentation.

How About HDFC Home Loan?

HDFC Bank sources home loans for its parent company HDFC Limited. The loan so offered is truly customized with distinct interest rates for salaried and self-employed.

Plus, the rates are also customized based on the individual gender and the loan amount one applies for. Overall, the rate ranges from 8.25% to 9.30%. Doesn’t matter whether you want to buy, construct, renovate or extend the housing units, HDFC does it all for you. You can get as much as 30 years to service the ​home loan​payments.

HDFC Car Loan Features HDFC offers loans to help you buy both new and pre-owned cars. For new cars, you can get finance upto 100% of the on-road price of the vehicle.The loan can go upto ₹3

crore for multi-utility vehicles. You need to pay the processing fee that accounts for 0.4% of the loan amount. The minimum and maximum fee amount to ₹3,000 and ₹10,000, respectively. The loan is payable over a maximum of 7 years, with the interest rate being 9.50%-10.25% per annum. If you talk about pre-owned cars, the rate of interest, in that case, can be around 13.75%-16% per annum, based on the segment of the vehicle.

HDFC Credit Cards HDFC offers a wide range of credit cards customized to address the unique requirements of the customers. These cards help customers earn reward points, cashback, discounts, and enjoy the privileges of lounge access, golf sessions, etc.

ICICI Bank ICICI Bank, like HDFC Bank, is also a giant in India’s banking space by offering the best of financial products and catering to the unique needs of consumers. These products include personal loans, home loans, car loans, credit cards, etc.

Personal Loans The Mumbai-headquartered private banking giant ICICI Bank is a prominent name in India’s ​personal loan​segment. It sets the interest rate based on the net monthly income of applicants, their credit history, repayment capacity, workplace etc. The interest rates can also vary based on the purposes they want to meet with a loan.

Presently, the rate stands between 10.99% and 18.99% per annum Home Loans Even in home loans, it is a dominant force by offering the same at customized rates ranging from 8.60%-9.40% per annum. The bank offers the loan for the purchase, construction, renovation and extension of homes. You can repay the loan over a maximum of 30 years.

Car Loans You can get the loan to buy either a brand new car or a second-hand 4-wheeler.

Accordingly, the rates get customized; for new cars, the bank charges 9.30%-12.85%

and 14.25% for used vehicles. You can get a maximum of 7 years and 5 years to repay the new car loan and used car loan, respectively.

Credit Cards ICICI Bank has an exclusive range of ​credit cards​that unlock unlimited privileges for the customers to enjoy and remember. It has different types of rewards, travel, fuel and cashback cards in its kitty.