Economic development of a country relies on the contribution of banking sector. The financial service is the backbone of service sector. A quality service by banking sector is the key element to gain customer satisfaction. It is an asset for evaluating average retention and increases customer loyalty towards the bank. The paper mainly investigates on customer opinion on the services provided by banks, which are classified into convenience, cost, facilities and social factors. This investigation also examines the effect of service quality elements: Convenience, cost, facilities and social factors; on the level of customer satisfaction in public and private sector banks in India. Administering the gap between actual and perceived opinions will results in high satisfaction levels of customers. © Serials Publications Pvt. Ltd.