Following RBI’s rate cut, major banks slash savings account interest rates, with SBI plunging to 2.5% and HDFC, ICICI reducing to 2.75%.

Following RBI’s rate cut, major banks slash savings account interest rates, with SBI plunging to 2.5% and HDFC, ICICI reducing to 2.75%.

Major banks in India, including State Bank of India (SBI), HDFC Bank, and ICICI Bank, have reduced their interest rates on savings accounts following a 50 basis point repo rate cut by the Reserve Bank of India (RBI) in June 2025. The cumulative rate cut for this year...