Top banks cut savings account rates: SBI drops to 2.5%, HDFC and ICICI now at 2.75%

Savings account holders will earn less. State Bank of India, HDFC Bank, and ICICI Bank have reduced interest rates. This follows the Reserve Bank of India’s repo rate cut. Other banks like Bank of Baroda and Federal Bank have also revised rates. The changes align deposit returns with the easing interest rate cycle.