Savings accounts

‘Not our regulatory domain’: RBI Governor after ICICI Bank raises minimum balance for savings account

RBI Governor Sanjay Malhotra clarified that minimum balance requirements for savings accounts are set by individual banks, not regulated by RBI. This follows ICICI Bank’s recent hike in minimum balance limits, sparking customer concerns and social media criticism.

India

Apple unveils Apple Card’s savings accounts with 4.15% interest rate

Apple has launched a new high-yield savings account for Apple Card users that will come with a 4.15 annual percentage yield (APY).

IDFC First Bank launches video KYC facility for customers to open savings accounts

Customers can start earning 7 per cent interest and maximise their returns on funds held or invested anywhere.

Banks looking for lower savings account interest rates

Falling growth in loans is making banks to look at the possibility of lowering the interest rates on savings bank…