State Bank of India (SBI) pressed the trigger for lowering the savings account interest, from the standard 4% down to 3.5%, for customers with balance of less than Rs1 crore. HDFC Bank, ICICI Bank, Axis Bank and Bank of Baroda followed with a similar move for customers with account balance of less than Rs50 lakh. Karnataka Bank has gone a step ahead with savings rate down to a meagre 3% for...
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