On 9 April 2025, the Reserve Bank of India cut the interest rates by 25 basis points. The benefit of which has started getting the borrowers. On the other hand, the effect of this deduction in interest rates is also realizing the savings account and fixed deposits.
Recently, HDFC Bank has cut 25 basis points in the interest rates received on a savings account after three years, which has come into force from 12 April 2025. Let us tell you that these changes will be applicable to both slabs of the remaining amount of saving account.
New interest rate on HDFC Bank’s savings account
After the changes that came into force from 12 April 2025, the interest of 3 percent on the balance of less than Rs 50 lakhs has now been reduced to 2.75 percent. At the same time, if the amount of more than Rs 50 lakh is in a savings account, now the annual interest will be available at 3.25%, which was earlier 3.50% annually.
Interest rate on SBI Bank Saving Account
State Bank of India is paying an annual interest of 2.70% on a balance of more than 10 crores in a savings account and if your SBI account has a balance of more than Rs 10 crore, then you will get interest at 3% annually. These interest rates are applicable from 15 October 2022.
ICICI Bank’s interest rate on savings account
If the balance in the savings account of your ICICI Bank remains up to Rs 50 lakh, then you will get an interest of 3% annually and if this balance is more than 50 lakh rupees, then you will get an annual interest of 3.50%.
PNB Bank’s interest rate on savings account
Punjab National Bank pays 2.70% annually on savings account balance up to Rs 10 lakh. Along with this, 2.75% of interest is paid at the balance of 10 lakh to 100 crore rupees per annum. On the other hand, if there is more than Rs 100 crore balance in the savings account, then you will get interest at 3% annually.