The bank to choose will depend on individual preferences and your financial needs, but you should understand that public banks would offer more stability and security because it enjoyed government backings while private banks would provide a personalized service because they are more closer to the customers. The public Banks has broader reach because they have larger branch networks and that will make it very convenient for everyday banking needs.
Between public bank and private bank, which one do you prefer?
- Thread starter Reedex
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Private banks in my home country are publicly traded companies, which means they are publicly owned institutions. However, there are also government owned banks. I prefer to use government owned banks as they have lower interest
My choice is for nationalised banks as they are protected by government . We hear of so many private banks in India going bankrupt.
In my case, private banks, as they offer more safety and security and there are more private banks here where I live.
I don't think there is any such thing as public banks in my country, especially in the commercial banking ecosystem. Public banks are majorly specialized banks like the Bank of Industry and Agricultural banks.
