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Recently, the Reserve Bank of India (RBI) had cut the repo rate by 50 basis points. After this, many big banks of the country have changed the interest rates on their savings accounts.

1- State Bank of India (SBI)

The country's largest bank SBI will now pay only 2.5% annual interest on all savings account balances. This rate is applicable from 15 June 2025. Earlier, 2.7% interest was being given on less than ₹ 10 crore and 3% interest on ₹ 10 crore or more.

2- HDFC Bank

HDFC Bank has fixed 2.75% annual interest on all savings account balances from 10 June 2025. Earlier, 2.75% interest was available up to ₹ 50 lakh and 3.25% interest above that.

3- ICICI Bank

ICICI Bank has also now fixed 2.75% annual interest on all savings accounts, which is effective from June 12, 2025. Earlier, 3.25% interest was available above ₹ 50 lakh and 2.75% below that.

4- Bank of Baroda

Bank of Baroda is now paying interest between 2.7% to 4.25% as per the savings account balance. The new rates are effective from June 12, 2025.

5- Federal Bank

Federal Bank is now paying interest between 2.5% to 6.25% as per the balance slab. These new rates are effective from June 17, 2025.

6- IndusInd Bank

IndusInd Bank has kept the interest rate on savings accounts between 3% to 5%, depending on the balance. The new rates are effective from June 16, 2025.

7- RBL Bank
RBL Bank is now offering 3% to 6.75% annual interest on savings accounts, depending on the balance. These rates have come into effect from June 16, 2025.

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