Banking System In India

One of the very most mandatory thing in today’s life is to hold a bank account where you can have a sense of control on your money and finances. It’s important as the bank is a financial situation who accepts deposits and provides credit. The basic functioning of all the banks is exactly the same but certain criterias create a difference between the banks. These criterias include the charges, time period, interest rate etc.

Hdfc bank has been ranked as the best bank in India for its best financial functioning. The housing development finance bank is a private bank which is providing financial services to the customers since 1994.  You can maintain a minimum salary account and a zero balance savings account. The interest that you get on a salary account is 3.5%.

State bank of India is one of the most consumer friendly bank and also preferred by many consumers. It has one of the very good facilities to provide facility to make online payment for the government exams. It is also one of the biggest bank in India so basically it has many branches across India. And plus if you don’t maintain minimum balance, no charges are levied on you.

ICICI Bank is the best bank for personal banking. Its headquarters is in Mumbai with the registered office in Vadodara. The bank provides you with a zero balance salary account and international debit card too. The minimum balance in savings account is 10000rs.

Bank of Baroda is a public sector bank which is owned by the government of India. It is ranked 1145 by Forbes in the 2000 banks list. It is well known for the various benefits it provides to its employees. The perks that are available to them are insurance benefits, retirement benefits and vacation policy.

It’s always hard to decide where to invest our money. We are always driven by the opinions that our colleagues give us and we go forward with that particular suggestion. It requires a lot of caution to select a particular bank which can be profitable for us as well as provide us financial stability.



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