What all banks come under commercial banks?
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Commercial Bank
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What is a 'Commercial Bank'
A commercial bank is a type of financial institution that accepts deposits, offers checking account services, makes business, personal and mortgage loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses. A commercial bank is where most people do their banking, as opposed to an investment bank.
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BREAKING DOWN 'Commercial Bank'
Commercial banks make money by providing loans and earning interest income from those loans. The types of loans a commercial bank can issue vary and may include mortgages, auto loans, business loans and personal loans. A commercial bank may specialize in just one or a few types of loans.
Customer deposits, such as checking accounts, savings accounts, money market accounts and CDs, provide banks with the capital to make loans. Customers who deposit money into these accounts effectively lend money to the bank and are paid interest. However, the interest rate paid by the bank on money they borrow is less than the rate charged on money they lend.
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Commercial banks in India
✧ State bank of India - It's the largest public sector bank and also the biggest lender of the country .
✧ ICICI Bank ( Industrial Credit and Investment Corporation of India ) - It's the largest private sector bank and multinational banking & financial company .
✧ HDFC Bank - It's the largest private sector bank in terms of assets and market capitalization .
✧ Axis Bank - It's the third-largest private sector bank in India after ICICI and HDFC .
✧ Kotak Mahindra Bank - Itz considered as one of the upcoming commercial banks in India and the fourth biggest private-sector bank in the country according to market capitalization .
The above listed are India's top 5 commercial banks !!
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