Updated Apr 17, 2025 22:59 IST
Federal Bank cuts interest rates (iStock)
Federal Bank inerest rates on savings account
Now, with the latest revision, savings account holders will earn interest of 2.75% on balances up to Rs 50 lakh. This is a reduction from the previous interest rate of 3%. For balances up to Rs 50 crore, the revised rates are 5.25% and similarly the rates have been reduced for multiple buckets.
Federal Bank interest rates on FD
On the other hand, the lender has revised the tenures for fixed deposits below Rs 3 crore. Those customers who have invested for 1 year to 443 days will now earn 7% interest.
Moreover, recently, several lenders have slashed their interest rates including Axis Bank, HDFC Bank, and ICICI Bank.
ICICI bank interest rates
ICICI Bank has slashed the interest rates on its savings account. The revised rates are effective from April 16. For a balance below Rs 50 lakh, the new rate is 2.75 per cent. Meanwhile those who have a balance above Rs 50 lakh will earn an interest rate of 3.25 per cent.
HDFC interest rates 2025
According to HDFC’s official website, the lender has reduced its interest rates by 25 basis points. Now the interest rate for savings accounts stands at 2.75 per cent.
Axis Bank interest rates 2025
Likewise, Axis Bank also reduced its savings account interest rates by 25 basis points. The interest rates are effective from April 15, 2025. As per the latest rates, balances below Rs 50 lakh, the interest rate is 2.75 per cent per annum.
On the other hand, for balances from Rs 50 lakh to Rs 2,000 crore, the new rate is 3.25 per cent per annum.
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