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%.

by | Jun 19, 2025 | Bank of Baroda, HDFC Bank, ICICI Bank, IndusInd Bank, RBI, RBL Bank, State Bank of India

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...