Archive · 9 Aug 2025
ICICI Bank's Minimum Balance Hike Sparks Customer Outrage
ICICI Bank is raising how much money you need to keep in your savings account if you open a new one.
In cities, you'll need ₹50,000, in smaller towns, ₹25,000, and in the country, ₹10,000.
This is more than before.
If you don't keep enough money, you'll be charged a fee.
Many customers are unhappy, calling the change discriminatory and some are threatening to switch banks.
ICICI Bank increased minimum balance requirements for new savings accounts.
Metro/urban customers' MAB increased to ₹50,000, a substantial rise.
Semi-urban MAB is ₹25,000, and rural is ₹10,000, both also increased.
Changes apply to accounts opened on or after August 1, 2025.
Customers face penalties if they fail to maintain the minimum balance.
- Who
- ICICI Bank
- What
- ICICI Bank increased minimum balance requirements for new savings accounts.
- When
- The changes apply to new accounts opened on or after August 1, 2025.
- Where
- India
- Why
- No definitive reason given in articles, but critics imply it benefits the bank.
ICICI Bank
Customers
Customer Base
ICICI Bank
Prioritizes wealthy customers.
Customers
No explicit stance mentioned in articles.
Customer Perspective
ICICI Bank
Discriminatory and elitist policy.
Customers
No explicit stance mentioned in articles.
Operational Cost
ICICI Bank
Prioritising wealthy customers.
Customers
No explicit stance mentioned in articles.
- Bank
- ICICI Bank
- Metro/Urban MAB
- ₹50,000
- Semi-Urban MAB
- ₹25,000
- Rural MAB
- ₹10,000
- Penalty for Shortfall
- 6% of shortfall or ₹500 (whichever is lower)
Sources
RBI slaps ₹75 lakh penalty on ICICI Bank
RBI Slaps Rs 75 Lakh Fine on ICICI Bank for Regulatory Lapses
ICICI Bank hikes minimum average balance requirement for savings accounts opened after August 1
ICICI Bank hikes minimum savings account balance in metros, urban areas from Rs 10,000 to Rs 50,000
ICICI Bank hikes minimum balance for new metro, urban accounts
ICICI Bank raises minimum average balance for new customers: Report - Telegraph India
ICICI Bank Sets Rs 50,000 Minimum Balance For New Savings Accounts In Cities Starting August 1
ICICI Bank sharply hikes minimum monthly balance in accounts to Rs 50,000: Check penalty rates for non-compliance
ICICI Bank Hikes Minimum Balance To Rs 50,000 For New Accounts To Avoid Fines
"Elitist": ICICI Bank's New Minimum Balance Rule Sparks Strong Reactions On Internet
ICICI Bank Raises Minimum Balance For New Customers: What This Means
Banking for the Elite? ICICI Bank Hikes Minimum Savings Balance to Rs 50,000 — Here’s What It Means for You
ICICI Bank Raises Minimum Balance Rule for New Savings Accounts: Details
ICICI Bank raises minimum balance requirement for savings accounts from Rs 10,000 to Rs 50,000; social media reacts
ICICI Bank steeply raises minimum monthly average balance requirement for new Savings Bank customers
ICICI Bank raises minimum balance requirement for savings accounts from Rs 10,000 to Rs 50,000; social media reacts
ICICI Bank's minimum balance requirement increased. Penalty to be 6 per cent of...
‘Thuggery of middle class money’: ICICI faces backlash over hike in minimum average balance for savings accounts
ICICI Bank Minimum Balance hiked to ₹50,000: 5 key things a customer must keep in mind
ICICI minimum balance hiked to ₹50,000: How is MAB calculated? What could be your penalty if you don't maintain MAB?
