The Reserve Bank of India has recently cut the repo rate by 25 basis points. After this decision, major banks of the country like ICICI Bank, HDFC Bank, Axis Bank and YES Bank have also reduced their savings account interest rates by 25 basis points. Let us know what are the current savings account rates of these banks:
ICICI Bank’s new interest rates: ICICI Bank will now get 2.75% annual interest on deposits of less than Rs 50 lakh, which was earlier 3%. At the same time, the bank will pay 3.25% interest on deposits of Rs 50 lakh or more.
HDFC Bank’s interest rates: HDFC Bank will also now pay 2.75% annual interest on deposits of less than Rs 50 lakh. Apart from this, the bank is offering 3.25% annual interest on deposits of Rs 50 lakh or more. These new rates have come into effect from April 12.
Axis Bank interest rates: Axis Bank is now providing an interest rate of 2.75% on deposits of less than Rs 50 lakh. The bank is paying an interest of 3.25% on deposits ranging from 50 lakh to Rs 2,000 crore, while the bank is offering an interest of overnight Mibor + 0.70% on more than Rs 2,000 crore.
YES Bank interest rates: YES Bank has set different interest rates based on the amount deposited on the savings account:
- Up to Rs 10 lakh: 3% interest
- 10 lakh to 25 lakh rupees: 3.50% interest
- 25 lakh to 50 lakh rupees: 4% interest
- 50 lakh to 100 crore rupees: 5% interest
These new rates of YES Bank are applicable since 21 April 2025.
After the post repo rate cut, the saving account of major banks reduce interest rates, know the new rates of ICICI, HDFC, AXIS and YES Bank first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
