ICICI Bank Hikes Minimum Balance for Savings Accounts in Metros and Urban Areas to INR 50,000, Highest Among Indian Banks; New Rule Effective From August 1
ICICI Bank has sharply increased the minimum average monthly balance (MAMB) for savings accounts in metro and urban branches to INR 50,000 from INR 10,000, effective August 1, 2025, for all new accounts. This marks the highest minimum balance requirement among domestic banks. In contrast, State Bank of India scrapped minimum balance rules in 2020.
ICICI Bank has sharply increased the minimum average monthly balance (MAMB) for savings accounts in metro and urban branches to INR 50,000 from INR 10,000, effective August 1, 2025, for all new accounts. This marks the highest minimum balance requirement among domestic banks. In contrast, State Bank of India scrapped minimum balance rules in 2020. ICICI has also raised the MAMB for semi-urban branches to INR 25,000 (from INR 5,000) and rural branches to INR 10,000 (from INR 2,500). The hike reflects a significant shift in deposit requirements, impacting customers opening accounts as the new rule takes effect. ICICI Bank To Start Charging Payment Aggregators for UPI Transactions From August 1; Escrow Account Holders To Pay Less, Non-ICICI PAs Face Higher Fees Amid Rising Infrastructure Costs.
ICICI Bank Hikes Minimum Balance for Savings Accounts
#ICICIBank raises average minimum balance for savings a/c in metros & urban areas to Rs 50,000, from Rs 10,000 before
Higher minimum average monthly balance (MAMB) to come into effect from Aug 1, 2025
Revised MAMB for new accounts being opened after Aug 1 pic.twitter.com/O0myEtnmG8
— CNBC-TV18 (@CNBCTV18Live) August 9, 2025
(The above story first appeared on LatestLY on Aug 09, 2025 10:06 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
