{"id":44223,"date":"2025-04-21T07:45:00","date_gmt":"2025-04-21T06:45:00","guid":{"rendered":"https:\/\/newstimers.com\/index.php\/2025\/04\/21\/banks-gave-strong-shock-to-customers-reduced-interest-rates-on-savings-accounts\/"},"modified":"2025-04-21T07:45:00","modified_gmt":"2025-04-21T06:45:00","slug":"banks-gave-strong-shock-to-customers-reduced-interest-rates-on-savings-accounts","status":"publish","type":"post","link":"https:\/\/newstimers.com\/index.php\/2025\/04\/21\/banks-gave-strong-shock-to-customers-reduced-interest-rates-on-savings-accounts\/","title":{"rendered":"Banks gave strong shock to customers, reduced interest rates on savings accounts"},"content":{"rendered":"


\n<\/p>\n

\n

New Delhi<\/strong><\/p>\n

India’s major private banks, HDFC Bank, ICICI Bank, Axis Bank and Federal Bank, have recently deducted 25 basis points (0.25%) in interest rates on savings accounts.<\/p>\n

Now the interest rate on the balance of less than Rs 50 lakh in these banks has come down to 2.75%. At the same time, State Bank of India (SBI), the country’s largest bank, is paying only 2.7% interest on the balance of Rs 10 crore from October 2022 to Rs 10 crore.<\/p>\n

These banks have cut interest rates not only on savings accounts, but also on fixed deposits (FD). This decision has been taken at a time when the CASA (current and savings account) ratio in the banking system has come down from 39% to 22% in the last one year.<\/p>\n

According to Anand Rathi Securities analyst Kaitav Shah, “This deduction can improve 5 to 8 basis points in net interest margin (NIM) for banks included in our coverage.”<\/p>\n

The CASA ratio of banks is continuously decreasing.<\/strong>
HDFC Bank’s CASA ratio declined from 38% of the previous year to 34% in December 2024. The total amount in the bank’s savings account was Rs 6.05 lakh crore and the total deposit was Rs 24.52 lakh crore.<\/p>\n

Similarly, the CASA ratio of SBI declined from 41.18% to 39.2%, in which the savings account remains Rs 33.51 lakh crore and the total deposit is 60.80 lakh crore rupees.<\/p>\n

Will customers withdraw money from savings accounts?<\/strong><\/p>\n

Although the fall in savings interest rates can make customers turn to FD, but the research head of McWery Capital Suresh Ganpati believes, “Savings account for transactions and there will be no major change due to a cut of 25 basis points.”<\/p>\n

The first week of April saw 2.4% in deposits, while the loan increased by 0.9%.<\/p>\n

Banks will benefit, customers will have to compromise<\/strong><\/p>\n

Experts believe that cuts in savings interest rates will provide low returns to customers, but it will help to maintain the long -term strategy and profit of banks. Also, there is an indication that other private banks can also move forward on this path.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

New Delhi India’s major private banks, HDFC Bank, ICICI Bank, Axis Bank and Federal Bank, have recently deducted 25 basis points (0.25%) in interest rates on savings accounts. Now the interest rate on the balance of less than Rs 50 lakh in these banks has come down to 2.75%. At the same time, State Bank […]<\/p>\n","protected":false},"author":1,"featured_media":44224,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thekhabars.com\/wp-content\/uploads\/2025\/04\/1-665-780x470.jpg","fifu_image_alt":"","footnotes":""},"categories":[43785],"tags":[],"class_list":{"0":"post-44223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nBanks gave strong shock to customers, reduced interest rates on savings accounts - News Timers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newstimers.com\/index.php\/2025\/04\/21\/banks-gave-strong-shock-to-customers-reduced-interest-rates-on-savings-accounts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks gave strong shock to customers, reduced interest rates on savings accounts - News Timers\" \/>\n<meta property=\"og:description\" content=\"New Delhi India’s major private banks, HDFC Bank, ICICI Bank, Axis Bank and Federal Bank, have recently deducted 25 basis points (0.25%) in interest rates on savings accounts. 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