ICICI Bank slashes savings account deposit interest rate by 0.25%

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ICICI Bank slashes savings account deposit interest rate by 0.25% - Business Standard

Quick Summary:

The second largest private sector bank's move comes days after larger rival HDFC Bank announced similar move amid a spate of cuts in deposit offerings following RBI's two back-to-back rate decreases.

ICICI Bank has cut its savings account deposit interest rate by 0.25 per cent, according to the lender's website.

ICICI Bank depositors will earn a 2.75 per cent interest on their savings bank balances of up to Rs 50 lakh, the same as HDFC Bank's offering, as per the website.