What are  Small banks and Payment banks?

Small banks and Payment banks are license banks that are approved by RBI. Both are the illustrations of differentiated banks. In fact, they are expanded to widen financial involvement in small sectors and small households. Even they render services to the local people such as farmers and migrant workers.

Small banks 

They are a kind of banks render basic banking services of lending and bank deposits to small and limited farmers, small business unit, unorganized sectors, small entity, and micro industries.

Payment Banks  

These banks render the kind of services of accepting a restricted deposit which is presently limited to Rs.1 lakh per customer and may increase in the future. They don’t provide credit cards and loans. But, they issue debit cards and ATM cards together with the main aim to reach small business units and households at Low-incomes.

List of Outstanding banks one should pick

It’s a common question among the people that what to choose that is best for our future. Both the bank intend to redefine banking. The main aspiration for both of them is to render their customer the finest experience and happy services. So let us Glimpse the best Small banks and Payment banks list that caters to all needs of the customer and satisfy their demands.

List of Small Banks

  • Utkarsh Small Bank

Utkarsh small finance banks render financial information to assist needy segments of the community by feasibly providing non-financial and financial services. They cater to services like:

  1. Doorstep banking services
  2. Easy repayment options
  3. Get a loan up to 25 lakhs
  4. Reasonable and affordable MSME Loans

  • Suryoday Small Bank

Suryoday Small bank renders advanced banking services through mobile phones, internet, and SMS banking. They also provide a credit card, NRI banking, and insurance services in a planned and strategic way. The plus point of this bank is to render services through digital means.

  • Ujjivan Small Bank

Ujjivan’s small bank is exiting in 24 states of India. They allot well-certified and affordable services and also have special plans for Senior citizens. They give services like :

  1. Net Banking
  2. Repay Loans
  3. Provide insurance services
  4. Ujjivan senior citizen account

  • Janalakshmi Small Bank

The janalakshmi small bank serves the society with unbanked sections with saving accounts, cashless transactions, loans, deposits, payments, and cards. They aim actively every day to fulfill the state through competing and responsive financial services. This serves our customers to drive a better life and future ahead.


  • Capital Small bank

The capital small bank is established for guiding the latest banking amenities to the rural areas at a reasonable cost. They give advantages to the local people with adequate and reliable services to overcome their dependency on moneylenders.

They supply services like :

  1. Money Transfer
  2. Interest Rates
  3. NRI Services

List of Payment Banks

  • NSDL Payment Bank

The NSDL payment banks play a central role in developing the services. The NSDL renders a wide range of services such as receiving of demand deposits and enclosures funds. The banks cannot extend loans and issue credit cards. In fact, they can receive deposits up to Rs. 1 lakh per customer.


  • Adita Birla Payment bank

The Aditya Birla Payment bank is here to serve in banking and finance services that are convenient to Indians. In fact, they offer interpreted banking exposure to all customers with calmness and across all sources that are computer and mobile phones.

They deliver services like :

  1. ABPB wallet
  2. online banking
  3. credit cards
  5. Insurance products

  • India Post Payment Bank

The India Post Payment banks are banks working under the Ministry of communications. Also, it has a feasible product saving and current account. They provide numerous services with great flexibility. They issue services like:

  1. QR code
  2. Sms banking
  3. Mobile banking
  4. Missed call banking
  5. Payments
  6. Bill payments
  7. Fund transfer
  8. Direct benefit transfer



  • JIO payment bank

A recently introduced payment bank that can acquire deposits and as well as make payment and but cannot provide loans or issue a credit card. It serves with easy and reasonable banking solutions to all customers. This bank was introduced in 2018. All the services you will cater to the transactions with your fingerprint which is a set password and linked with your biometric Aadhaar card. They feed services like :

  1. Digital payment
  2. Pay bills
  3. Money transfer
  4. Deposit /withdraw of money

  • Paytm Payment Bank

A Paytm payment bank is an Indian first bank with zero digital transaction charge account with zero balance. This a new set platform that has the most digital facilities. This banking system extends deposits payment services for all users of internet banking. They provide a service like:

  1. Money transfer
  2. Rupay Debit card
  3. Saving account


All of the above banks provide the best and finest service which can ease your banking facilities. When they come together with serving customers it can be seen that they have varying services and purposes. Also, Small banks acquire both deposits and lending for people who are not accepted by commercial banks. Payment banks will offer payment services like debit cards and ATM cards. Moreover, they are leading technologies and are cost-effective for small businesses and households.

If you are looking to apply for credit cards, personal loans, or business loans in India, call us at +91 8750008881, or mail [email protected], We pleasure in helping you fulfill all loan linked activities. To know about the wide range of services on offer, do check our website at Finbucket.

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