ICICI Bank has reduced its interest rates on savings account deposits rate by 25 basis points, effective today.
Following the rate revision, savings deposits below ₹50 lakh will now earn an interest rate of 2.75% per annum, while deposits of ₹50 lakh and above will earn 3.25% per annum.
This move aligns with similar actions taken by other major banks amid a stable interest rate environment. The revised rates are applicable to both new and existing savings account holders.
Customers are advised to review their account balances and explore alternate options if higher returns are a priority, such as fixed deposits or other investment instruments.
