ICICI Bank Reduces Minimum Balance: ICICI Bank has revised its recent decision to raise the minimum average monthly balance (MAMB) for new savings accounts in metro and urban branches. Initially set to Rs 50,000, the new requirement has now been slashed to Rs 15,000, effective from August 13, 2025. This change comes after significant backlash from customers who felt the hike was too steep.

ICICI Bank Reduces Minimum Balance:

Previously, the MAB for ICICI savings accounts in metro areas was Rs 10,000 until July 31, 2025. In response to customer feedback, the bank decided to scale back the increase for new accounts opened from August 1. This change will make it more manageable for customers to maintain accounts without facing financial strain.

The bank also introduced revised balance requirements for semi-urban and rural areas. In semi-urban branches, account holders must now maintain Rs 7,500, down from Rs 25,000. Rural branches have seen a reduction from Rs 10,000 to Rs 2,500. Those who do not meet the minimum balance requirement will incur a penalty of 6% of the shortfall or Rs 500, whichever is lower.

For salary accounts, ICICI Bank maintains its zero-balance facility. Additionally, Basic Savings Bank Deposit Accounts (BSBDAs) will not be impacted by these changes, as these accounts already carry no minimum balance requirement, as mandated by the Reserve Bank of India (RBI).

The revised minimum balance requirements follow a trend seen across several banks. For instance, HDFC Bank raised its MAB to Rs 25,000 for urban branches, while other banks like Axis Bank and Bank of Baroda have also adjusted their MAB thresholds. ICICI’s move is expected to alleviate customer concerns while remaining in line with its commitment to offer flexible banking options.

Despite the adjustments, the bank has maintained its cash deposit and withdrawal limits, including fees for certain transactions.

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