Mumbai, April 19 -- Yes Bank Ltd has lowered interest rates on savings accounts by up to 4%, joining the bandwagon of private sector lenders aiming to rein in deposit costs and bolster margins.

The move, announced during the bank's earnings call on Saturday, is part of a wider effort to improve profitability while maintaining a healthy CASA (current account and savings account) ratio.

Until recently, the bank was offering an interest rate of 7% on savings balances above Rs.10 lakh-one of the most generous in the market. Now, balances between Rs.10 lakh and Rs.25 lakh will earn 3.5%, Rs.25 lakh to Rs.50 lakh will fetch 4%, and balances above Rs.50 lakh will receive 5%.

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