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BANKING & SAVING 

ICICI Bank Cut Interest Rate On Savings Account By 0.5%

August 24, 2017 Loknath Das 0.5%, account, Bank, By, Cut, ICICI, Interest, on, rate, Savings

ICICI Bank's revised interest rate will be effective from August 19.

Mumbai: Private sector lender ICICI Bank today announced to reduce interest rate on savings accounts by 50 basis points to 3.5 per cent on deposits below Rs. 50 lakh.

The interest rate on savings bank accounts with deposits of Rs. 50 lakh and above remains unchanged at 4 per cent, the bank said in a regulatory filing.

The revised interest rate will be effective from tomorrow.

On July 31, market leader State Bank of India (SBI) slashed interest rate on savings account deposits by 50 basis points to 3.5 per cent on balance of Rs. 1 crore and below.

Several other lenders including, HDFC Bank, Bank of Baroda, Punjab National Bank and Axis Bank have also revised their interest rate on savings bank accounts.

 

 

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ECONOMY

Changes in Mutual Fund Rules Effective in 2021
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Changes in Mutual Fund Rules Effective in 2021

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One of India’s largest asset management companies (AMC), Franklin Templeton Mutual Fund, on April 23, 2020, made an announcement that

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Stocks making the biggest moves premarket: Big Lots, Hibbett, Pinduoduo and others

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