India, April 16 -- ICICI Bank has reduced its savings account interest rate by 0.25%, as per information available on the bank's website.
The move follows a similar step by HDFC Bank, the country's largest private lender, amid a broader trend of declining deposit rates triggered by two consecutive rate cuts by the Reserve Bank of India (RBI).
According to the updated rates, ICICI Bank customers will now earn 2.75% interest on savings account balances up to Rs 50 lakh — matching the rate offered by HDFC Bank.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....