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ICICI Bank cuts savings account rates by 25 bps

Financial Express Delhi

|

April 17, 2025

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.

- SACHIN KUMAR

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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