ICICI Bank slashes savings account interest rates

By FnF Correspondent | PUBLISHED: 17, Apr 2025, 9:07 am IST | UPDATED: 17, Apr 2025, 9:07 am IST

ICICI Bank has reduced the interest rate on its savings accounts by 0.25%.

As per the revised structure, customers maintaining savings account balances of up to ?50 lakh will now earn 2.75% interest. For balances exceeding ?50 lakh, the interest rate has also been reduced by 0.25%, bringing it down to 3.25%

The wave of deposit rate reductions comes in response to the RBI’s recent back-to-back repo rate cuts, which have lowered the key policy rate by a total of 0.50% over the past four months. The central bank has repeatedly emphasised the need for quicker transmission of its policy measures to support economic growth.