Do you have a savings account with ICICI Bank? So read this without forgetting otherwise

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State Bank of India has cut interest rates on ICICI Bank savings accounts by 0.25 percent within the private sector. The bank was briefed on the matter on Tuesday. The new rates will inherit effect from Thursday, ICICI Bank said during a regulatory notice.

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The rate of interest on excess deposits has been reduced from 3.75 percent to three .50 percent.

The rate of interest on low deposits has been reduced from the present 3.25 to three percent

The reduction in interest rates will apply to both borrowers and bankers

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The private bank has slashed interest rates on all deposits below Rs 50 lakh from the present 3.25 percent to three percent. The rate of interest on deposits of Rs 50 lakh or more has been reduced from 3.75 percent to Rs 3.50.

Then the bank has cash. This has created an imbalance of assets and liabilities within the bank and is increasing the pressure on the bank to pay interest on customers' deposits. As a result, the bank has reduced interest rates

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Earlier, the depository financial institution of India, the country's largest bank, cut interest rates by 0.40 percent in May on new retail term deposits and maturing collateral renewals. depository financial institution chairman Rajneesh Kumar has already said that interest rates will go down within the current scenario. He also said that the reduction in interest rates would apply to both borrowers and bank depositors.