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ICICI Bank cuts savings account rates by 25 bps
April 17, 2025
|Financial Express Kochi
ICICI BANK, THE second-largest private sector lender, on Wednesday reduced interest rates on its savings accounts by 25 basis points (bps), following similar moves by HDFC Bank and Axis Bank.
Mumbai, April 16
Savings account balances of up to ₹50 lakh will now earn 2.75%, down from 3%. For balances above ₹50 lakh, the interest rate has been cut to 3.25% from 3.5%.
HDFC Bank and Axis Bank had earlier reduced their savings deposit rates to 2.75% for balances up to ₹50 lakh, marking a broader trend among lenders to lower deposit costs.
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