The effect of sodium trimetaphosphate (STMP, 1–3%), STMP + dry heat (STMP‐DH, at 180 °C for 60 min), and octenyl succinic anhydride (OSA, 3%) on functional, structural, morphological, and thermo‐rheological properties of banana starch was studied. Similar FTIR and XRD patterns of modified starches indicated minor structural changes; however, the degree of crystallinity significantly of native starch (26.88%) reduced after crosslinking (16.32%) and dual modification (13.91%). The native granules were flattened, elongated, oval‐ellipsoidal, and compact granules, whereas STMP starches had smoother surfaces than STMP‐DH starches. Due to changes in structure and functional groups, swelling and solubility of granules decreased, which depreciated the viscosity curve during cooking. In addition, pasting temperature elevated after STMP modification (76.3‐83.1 °C) and remained comparable after STMP‐DH (76.3‐75.1 °C). The rheological analysis showed that native starch gel has more shear‐thinning behavior and dominant elastic component than modified starches. The modified edible starch particles were successfully used to stabilize oil‐in‐water Pickering emulsion. The 2 and 3% STMP starches showed better storage stability comparable to 3% OSA starch for up to thirty days. However, the loss in functional groups and amphiphilic properties of STMP‐DH resulted in creaming and unable to perform as desired.This article is protected by copyright. All rights reserved