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IDFC First Bank slashes savings account rates by up to 200 bps on select slabs

IDFC First Bank has reduced interest rates on savings accounts by up to 200 basis points, effective January 9. Balances between 1 lakh and 10 lakh will now earn 5%, while higher slabs see minimal changes. The move reflects banks' struggles to attract deposits amid rising credit growth.

8 Jan 2026 9:23 pm