SAVINGS ACCOUNT RATES
FD interest rate up to 8.70%: Shivalik SFB and IDFC FIRST Bank revise savings account and FD rates
Shivalik Small Finance Bank and IDFC FIRST Bank will revise interest rates. The change applies to savings accounts and fixed deposits. Shivalik SFB savings rates range from 2.50% to 8.20%. Their FD rates go from 3.50% to 8.20% for general citizens. IDFC FIRST Bank savings rates are between 3% and 7.25%. Their FD rates vary from 3% to 7.
No more paperwork! Open these Post Office Savings Schemes instantly with Aadhaar e-KYC
The Department of Posts is streamlining account openings for schemes such as Monthly Income Scheme (MIS), Time Deposit (TD), Kisan Vikas Patra (KVP), and National Savings Certificate (NSC using Aadhaar biometric authentication. This paperless process eliminates deposit slips and speeds up transactions.
From ATM fees to FD rates: Key financial changes effective May 1, 2025
Starting May 1, 2025, significant financial changes will impact banking, including revised ATM charges and deposit interest rates. The 'One State-One RRB' initiative consolidates regional rural banks to improve efficiency. RBI and NPCI have approved revised ATM interchange fees, while Shivalik Small Finance Bank, IDFC FIRST Bank, and RBL Bank have updated their savings and fixed deposit interest rates.
Falling interest rates to pressure bank earnings; RoA to moderate from FY24 highs
Indian banks face squeezed profitability as loan rates fall faster than deposit rates, compressing net interest margins. CRISIL Ratings projects a moderation in return on assets to 1.1-1.2% by fiscal year 2026. With limited scope to cut deposit costs amid competition, banks' ability to maintain margins is challenged.
RBI rate cuts to impact key profitability indicator of banks: Crisil
Crisil Ratings predicts a decline in banks' return on assets in fiscal year 2026. This is due to the Reserve Bank of India's rate cuts. The cuts will compress net interest margins. Loan interest rates will reduce faster than deposit rates. Credit costs have bottomed out. Competition for deposits will limit banks' ability to manage costs.
Savings bank account: Monthly credit of interest, up to 7% interest rate in this bank from May 1, 2025
Savings a/c interest: You can get up to 7% interest rate on savings bank account of RBL Bank on a monthly basis. This new development is as per an email by the RBL Bank to its customers on April 26, 2025. Read below to know how the slabs are going to be calculated.
From liquid funds to sweep-in FDs, here are a few short-term options for you to invest your money in
With bank savings account interest rates declining, depositors are exploring alternatives for better returns. Options include switching to banks with higher rates, sweep-in fixed deposits, and mutual fund options like liquid and overnight funds. However, experts advise prioritizing safety and liquidity, suggesting a mix-and-match approach to optimize returns while minimizing risk.
FD rates revised: Union Bank offers up to 7.85%, RBL Bank up to 8.5% after revision for these customers
Union Bank of India and RBL Bank have adjusted their fixed deposit interest rates for deposits under Rs 3 crore, effective April 25, 2025. While Union Bank maintained its savings account rates, RBL Bank reduced theirs by up to 100 basis points for specific balance tiers, starting May 1, 2025.
Kotak Mahindra Bank cuts savings account interest rate by 25 bps: Check details
Kotak Mahindra Bank has reduced savings account interest rates by 25 bps for balances between Rs 5 lakh and Rs 50 lakh, effective April 25, 2025. The new rates are applicable from April 25, 2025
Ujjivan Small Finance Bank cuts FD rates by up to 20 bps, senior citizens can still get 8.55% interest on fixed deposits
Ujjivan Small Finance Bank has reduced fixed deposit interest rates by up to 20 bps for deposits under Rs 3 crore, effective April 24, 2025, alongside revising savings account rates. While other banks like SBI and HDFC have also cut FD rates this month.
Has Sukanya Samriddhi Yojana interest rate reduced from 8.2% in April-June 2025?
The Sukanya Samriddhi Yojana (SSY) is a government-backed scheme encourages savings for a girl child's education and marriage, with a minimum deposit of Rs 250 and a maximum of Rs 1.5 lakh annually.
Highest savings account interest rate: Comparison of ICICI Bank vs HDFC Bank vs Axis Bank vs YES Bank
Banks are revising their savings account interest rates after RBI cut the repo rate by 25 bps during its monetary policy meeting earlier this month. Following the RBI's repo rate cut, ICICI Bank, HDFC Bank, and Axis Bank have reduced savings account interest rates by 25 bps.
Yes Bank tweaks FD rates again: Highest FD rate slashed to 7.50%, FD rates hiked by 25 bps on select tenures
Yes Bank has adjusted its fixed deposit (FD) pricing, reducing the highest rate by 25 bps to 7.50%, following the RBI's repo rate cut. Simultaneously, rates on medium to long-term tenures have increased by 25 bps.
Federal Bank cuts FD, savings account interest rates, changes FD tenures: Here are the latest fixed deposit interest rates
Federal Bank has decreased interest rates for fixed deposits (FDs) and savings accounts, effective April 17, 2024. This decision follows the Reserve Bank of India's repo rate reduction.
India's biggest banks cut interest rates on savings accounts to protect margins amid slowing deposit growth
Indian banks, including HDFC Bank and SBI, are strategically reducing savings account interest rates by 25 basis points to protect profitability amid declining CASA ratios. This move aims to lower the cost of funds and improve net interest margins, even as deposit growth faces challenges. Experts anticipate limited fund migration despite depositors shifting towards higher-yielding term deposits.
Now ICICI Bank cuts FD, savings account interest rates; check details
ICICI Bank has decreased its savings account interest rates by 25 bps and fixed deposit (FD) rates by up to 50 bps on select tenures, effective April 17, 2025.
ICICI Bank joins peers in cutting savings account interest rates
ICICI Bank has decreased its savings account interest rates by 25 basis points, mirroring recent actions by HDFC Bank and Axis Bank. This move, aimed at reducing the cost of savings accounts, could improve banks' Net Interest Margin.
Banks cut interest rates on savings accounts. Should you shift to liquid mutual funds now?
As banks reduce savings account interest rates, experts suggest liquid, money market, and overnight funds as appealing alternatives for better short-term returns. HDFC Bank and Axis Bank have lowered rates to 2.75%, prompting a potential shift towards debt mutual funds. Despite recent outflows in liquid funds due to year-end obligations, the outlook remains positive, especially with the RBI's accommodative stance.
Is there a risk while investing in overnight and liquid funds?
Overnight schemes have a portfolio that invests in securities that mature in a single day. The portfolio is built using overnight reverse repos, CBLOs (collateralised borrowing and lending options), and money market securities that mature in a day.
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