Lidea Feed

HDFC: It is said to be the largest private bank, but it gives less interest on savings accounts than SBI, ICICI and PNB..

Shikha Saxena April 17, 2025 05:15 PM

The Reserve Bank of India had cut interest rates by 25 basis points on 9 April 2025. The benefit of this has started to reach the borrowers. On the other hand, the effect of this reduction in interest rates is also being felt by those who have savings accounts and fixed deposits.

Recently, HDFC Bank has cut the interest rates on savings accounts by 25 basis points after three years, which has come into effect from 12 April 2025. Let us tell you that these changes will be applicable on both slabs of savings account balances.

New interest rate on HDFC Bank savings account

After the change implemented on 12 April 2025, the interest of 3 percent on a balance less than Rs 50 lakh has now been reduced to 2.75 percent. On the other hand, if the amount is more than Rs 50 lakh in the savings account, now annual interest will be available at the rate of 3.25%, which was earlier 3.50% per annum.

SBI Bank Savings Account Interest Rate
State Bank of India is paying 2.70% annual interest on a savings account balance of more than Rs 10 crore and if you have a balance of more than Rs 10 crore in your SBI account, then you will get interest at the rate of 3% per annum. These interest rates are applicable from 15 October 2022.

ICICI Bank Savings Account Interest Rate
If the balance in your ICICI Bank savings account is up to Rs 50 lakh, then you will get 3% annual interest and if this balance is more than Rs 50 lakh, then you will get 3.50% annual interest.

PNB Bank Savings Account Interest Rate
Punjab National Bank pays 2.70% annual interest on savings account balances up to Rs 10 lakh. Also, it pays 2.75% annual interest on balances ranging from Rs 10 lakh to Rs 100 crore. On the other hand, if there is a balance of more than Rs 100 crore in the savings account, then you will get interest at the rate of 3% per annum.

Disclaimer: This content has been sourced and edited from TV9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.