According to data shared by investment platform Groww, State Bank of India (SBI) has retained its position as India's largest lender with total deposits of ₹60.4 lakh crore and 53 crore customers. The comparison, based on figures available up to March 2026, highlights significant differences between public and private sector banks in terms of deposit mobilisation and customer base. HDFC Bank ranks second with ₹31 lakh crore in deposits and 10.1 crore customers, while maintaining the highest average deposit per customer at ₹3.07 lakh. Axis Bank currently leads the market with a striking interest rate of 7.25% for senior citizens, offering the highest returns among major banks. ICICI Bank offers a competitive 7.1% interest rate for senior citizens, ranking among the top performers in the current market.
Despite SBI's overall leadership in deposits and customer numbers, HDFC Bank leads when deposits are measured on a per-customer basis. As reported by Groww, Axis Bank follows with ₹2.47 lakh average deposit per customer and Canara Bank at ₹1.47 lakh. The data reveals that some private-sector banks have substantially higher average customer deposits than several large public-sector lenders. Punjab National Bank holds ₹17.2 lakh crore in deposits with 18.5 crore customers and ₹0.93 lakh average deposit, while Bank of Baroda manages ₹16.8 lakh crore with 18.9 crore customers and ₹0.89 lakh average deposit. Axis Bank's 7.25% interest rate currently offers the most attractive returns for senior citizens, with a ₹5 lakh investment maturing to approximately ₹7.16 lakh after five years.
According to the Groww comparison, Canara Bank holds ₹15.7 lakh crore in deposits with 10.7 crore customers and ₹1.47 lakh average deposit. Axis Bank maintains ₹13.3 lakh crore in deposits with 5.4 crore customers and ₹2.47 lakh average deposit. Union Bank of India manages ₹13.1 lakh crore with 16.4 crore customers and ₹0.80 lakh average deposit. Bank of India holds ₹9.3 lakh crore with 11 crore customers and ₹0.84 lakh average deposit. Indian Bank manages ₹8.3 lakh crore with 9.5 crore customers and ₹0.87 lakh average deposit. Kotak Mahindra Bank maintains ₹5.7 lakh crore with 5.2 crore customers and ₹1.09 lakh average deposit.
Axis Bank leads the senior citizen FD segment with a competitive 7.25% interest rate, offering the highest returns among major banks. A ₹5 lakh investment in Axis Bank's 5-year senior citizen FD would mature to approximately ₹7.16 lakh, generating total interest earnings of around ₹2.16 lakh. SBI follows closely with 7.05% interest rate, providing maturity of ₹7.09 lakh and interest earnings of ₹2.09 lakh on the same investment. ICICI Bank offers 7.1% interest rate, resulting in maturity of ₹7.11 lakh and interest earnings of ₹2.11 lakh. HDFC Bank provides 6.65% interest rate, offering maturity of ₹6.95 lakh and interest earnings of ₹1.95 lakh. Punjab National Bank offers 6.80% interest rate, generating maturity of ₹7.00 lakh with interest earnings of ₹2.00 lakh. Canara Bank provides 6.75% interest rate, resulting in maturity of ₹6.99 lakh and interest earnings of ₹1.99 lakh.
According to the information shared by Groww, ICICI Bank, one of India's largest private-sector lenders and the country's third-largest bank, does not feature in the comparison. The platform indicates that ICICI Bank has not publicly disclosed its total customer count, which explains its absence from the comprehensive banking comparison. However, ICICI Bank has emerged as a strong competitor in the senior citizen FD segment, offering a competitive 7.10% interest rate that ranks among the top performers in the current market.
