ICICI Bank has reduced the minimum monthly average balance (MAB) requirement for new savings accounts opened after August 1. Earlier, customers had to keep ₹50,000 in their accounts, but now the amount is ₹15,000.
The change comes after many people criticised the higher limit on social media, saying it made banking less accessible.
According to ICICI Bank, the new rules are based on customer feedback. They do not apply to:
- Salary accounts
- Senior citizens above 60 years
- Basic savings accounts / PM Jan Dhan Yojana accounts
- Accounts opened before July 31, 2025
Current MAB Requirements for Resident Indians below 60 years:
- Metro & Urban areas: ₹15,000
- Semi-urban areas: ₹7,500
- Rural areas: ₹2,500
Some people, like pensioners below 60 and students from 1,200 listed institutes, don’t need to maintain any minimum balance.
If you don’t keep the required balance, the bank will charge 6% of the shortfall or ₹500, whichever is lower.
ICICI Bank also offers three premium plans — Select Banking, Wealth Management, and Private Banking — where customers can avoid MAB penalties if they maintain higher deposits or investments.
Other key points:
- At ICICI Bank ATMs: 5 free withdrawals per month, then ₹23 per extra withdrawal.
- At non-ICICI ATMs: free transactions depend on location.
- At branches: 3 free cash deposits or withdrawals per month.
Meanwhile, HDFC Bank clarified that its minimum balance for a regular savings account is still ₹10,000. The ₹25,000 limit applies only to its ‘Savings Max’ account.
