Banks now offer lowest interest rates in over a decade
The RBI has lowered its repo rate by 1% since February 2025, pushing it down to 5.5%.
Because of this, most big banks have slashed their fixed deposit and savings account interest rates—some public sector banks are now offering their lowest rates since 2011.
If you've noticed your bank balance growing a little slower, this is why.
Slice SFB offers 5.5% interest rate on savings account
While major banks like SBI, HDFC, and ICICI now offer just 2.5% on savings (no matter your balance), Slice Small Finance Bank is shaking things up with a 5.5% interest rate that's tied to the repo rate.
There are no annual fees or minimum balance hassles, plus you get daily interest payouts.
Other banks like Canara and Bank of Baroda offer slightly better rates—but only if you keep a huge amount parked in your account—making Slice's offer especially appealing right now.