Dashboard 6 — AI Referral Traffic & Citation Visibility
Home Loan Spoke · Fellocraft Research · Apr 2026
Home Loan Spoke · Fellocraft Research · April 2026
HDFC Bank Leads AI Referrals. Bajaj Finserv Dominates Volume.
While Google organic traffic collapsed for most banks, AI platforms opened a new referral channel. HDFC Bank receives 345,638 AI referral visits — the highest in the set — driven predominantly by Gemini. Bajaj Finserv leads total AI citations. The category grew from near-zero in April 2024 to meaningful monthly volumes by late 2025.
HDFC Bank: 345K AI visits. 69% from ChatGPT.
Despite losing 97% of its organic traffic since July 2024, HDFC Bank leads the set in total AI referral visits — 345,638 across ChatGPT, Gemini, Perplexity, and Claude. Bajaj Finserv is second at 207,866. ICICI Bank third at 176,074 with 73% ChatGPT concentration. As Google search erodes, AI platforms are emerging as the new discovery layer — and the brands with the most content indexed by AI are already winning it.
HDFC Bank total AI visits
345,638
69% ChatGPT · leads the entire set
Bajaj Finserv total AI visits
207,866
Most balanced platform split — 53% ChatGPT
ICICI Bank total AI visits
176,074
73% ChatGPT · fastest growing bank
LIC Housing AI growth
+1,292%
Early avg 41/mo → recent avg 573/mo
Panel 1 — 24-month AI citation trend
Monthly AI citations — April 2024 to April 2026
Combined ChatGPT + Perplexity + Gemini citations per brand. Category grew from near-zero Apr 2024.
HDFC Bank
Bajaj Finserv
ICICI Bank
Axis Bank
Paisabazaar
BankBazaar
Source: Semrush AI Search module, India database, April 2024–April 2026. Combines ChatGPT, Perplexity, and Gemini citation data. Directional estimates for competitive benchmarking.
Panel 2 — AI platform split (snapshot)
AI referral visits by platform
ChatGPT, Perplexity, Gemini and Claude share of total AI referral visits. April 2026 snapshot.
ChatGPT
Perplexity
Gemini
Claude + Other
Source: Semrush AI Traffic module, April 2026. All platforms combined. Sorted by total AI visits descending.
AI referral summary — all brands
BrandChatGPTGeminiTotalCGpt%
HDFC Bank240,15754,409345,63869%
Bajaj Finserv111,20327,994207,86653%
ICICI Bank128,54718,394176,07473%
Axis Bank53,9148,62977,02070%
BankBazaar51,93619,77693,60255%
Paisabazaar41,57512,02470,10359%
Kotak Bank40,23212,05760,12967%
SBI56,5995,09372,94878%
Bank of Baroda24,2912,40632,73074%
Tata Capital11,1692,18518,16561%
HDFC Ltd16,2081,87622,14873%
LIC Housing6,0663117,19184%
PNB Housing1,6382432,63362%
Source: Semrush AI Traffic module, April 2026 snapshot. Sorted by total AI visits. ChatGPT % = ChatGPT share of total AI referral visits.
Sources: Semrush AI Traffic module (AI referral visits by platform, April 2026 snapshot) and Semrush AI Search module (monthly AI citation trend, April 2024–April 2026). India database. All figures are directional Semrush estimates for competitive benchmarking. AI referral traffic is a distinct and growing channel separate from organic search — it measures visits referred directly from AI platforms, not AI Overview CTR impact on organic traffic.