Big hit to savings account holders: SBI, HDFC Bank, ICICI Bank cut interest rates in June 2025

Major Indian banks including State Bank of India, HDFC Bank, and ICICI Bank will reduce savings account interest rates in June 2025. This follows a repo rate cut by the Reserve Bank of India. SBI will offer a uniform rate of 2.5%. HDFC and ICICI Bank will offer 2.75% on all balances.