India, April 15 -- HDFC Bank's shares jumped by nearly four per cent after it lowered the interest rate it gives for savings account by 25 basis points to 2.75 per cent, making it the lowest among its private sector peers.

As of 1:15 pm, the bank's shares were trading 3.40 per cent or Rs.61.50 up, at Rs.1,868.10. The intraday high was Rs.1,875.90, which is 3.84 per cent up from the previous close.

The 2.75 per cent interest rate is for deposits less than Rs.50 lakh. It is 3.25 per cent for deposits of and above Rs.50 lakh, according to the bank's website.

This new rate cut has been effective since April 12 and came about just days after the Reserve Bank of India (RBI) on Wednesday, April 9, cut the benchmark repo rate by the same 25 ba...