IDFC First Bank has reduced interest rates on savings accounts by up to 200 basis points, effective January 9. Balances between ₹1 lakh and ₹10 lakh will now earn 5%, while higher slabs see minimal changes. The move reflects banks’ struggles to attract deposits amid rising credit growth.
IDFC First Bank has reduced interest rates on savings accounts by up to 200 basis points, effective January 9. Balances between ₹1 lakh and ₹10 lakh will now earn 5%, while higher slabs see minimal changes. The move reflects banks’ struggles to attract deposits amid rising credit growth. by Soban News (international And National News)