YES Bank cuts savings deposit rate by 25-100 bps

Bank also slashed interest rate on savings accounts to 6.25% from existing 6.5%

YES Bank has cut saving bank interest rate by 100 basis points (one per cent) to five per cent for account balances with less than Rs 1 lakh. For balances of Rs 1 crore and above, the new rate will be 6.25 per cent, down from 6.5 per cent. The new rates on balances in savings deposits would be effective from September 1, 2017, it said in a statement.
 
The bank has kept interest rates of 6 per cent unchanged for deposits of over Rs 1 lakh and less than Rs 1 crore.
 
State Bank of India was