ICICI Bank announces new banking rules: What are the changes?
What's the story
ICICI Bank has revised its minimum average monthly balance (MAMB) requirement for new savings accounts. The change is now in effect. Under the new rule, customers in metropolitan and urban areas will have to maintain a MAMB of ₹50,000 instead of the earlier ₹10,000. For semi-urban branches, the requirement has been hiked to ₹25,000 from ₹5,000, while rural branches will now require a MAMB of ₹10,000, up from ₹2,500.
Clarification
Existing customers exempted from new rule
The revised MAMB requirement will only be applicable to new savings bank accounts opened after August 1, 2025. Existing account holders will not be affected by this change. The bank's updated terms also include changes in service charges for cash transactions. Customers can make three free cash transactions (deposits or withdrawals) at branches and cash recycler machines every month under the new rule.
Transaction fees
Charges for cash transactions
After the three free transactions, each additional transaction will be charged at ₹150. A cumulative monthly limit of ₹1 lakh is available sans charge, beyond which a fee of ₹3.5 per ₹1,000 or ₹150 (whichever is higher) will apply. Third-party cash deposits are limited to ₹25,000 per transaction under the new rules by ICICI Bank.
Withdrawal rules
New charges for cash withdrawals
The same structure as cash deposits will be applicable to cash withdrawals at branches. Customers can make three free transactions per month, after which a charge of ₹150 will apply. The bank has also brought a charge of ₹50/transaction for deposits made via cash acceptor or recycler machines during non-working hours (4:30pm to 9:00am) and on holidays, if the total deposits exceed ₹10,000 in a month.
ATM fees
What about ATM transactions?
For ATM transactions at non-ICICI Bank ATMs in Mumbai, Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad, the bank will charge ₹23/financial transaction and ₹8.5 per non-financial transaction, after the first three transactions in a month. The limit is applicable to the total number of both financial and non-financial transactions combined.