ICICI Bank follows HDFC and Axis Bank, cuts savings rate by 25 bps

Quick Summary:

According to ICICI Bank's website, savings account balances of up to Rs 50 lakh will now earn an interest rate of 2.

Similarly, balances above ₹50 lakh will attract an interest rate of 3.25 per cent, compared to 3.50 per cent earlier.

Earlier this week, both HDFC Bank and Axis Bank had reduced their savings deposit rates by 25 bps to 2.75 per cent.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Bank margins ICICI Bank HDFC Bank SBI April 2025 Interest rates Monetary policy Term deposits 25 basis points Axis Bank Deposit rates Private banks RBI repo rate Savings account rate cut

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-16 @ 14:09:13 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 27945289

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