Not maintaining ₹50,000 minimum balance? Check ICICI Bank's penalties
What's the story
ICICI Bank has announced major changes to its service charges for savings account holders. The new rules came into effect from August 1, 2025. The changes affect cash deposits, withdrawals, ATM usage fees, and penalties for not maintaining the required monthly average balance (MAB). Customers are advised to go through the revised guidelines carefully to avoid any additional costs.
Balance adjustments
Revised MAB requirements and cash transaction charges
The bank has revised the MAB requirements based on branch location. New customers in metro and urban areas will have to maintain an MAB of ₹50,000, while those in semi-urban branches will need to maintain ₹25,000. For rural branches, the required MAB is set at ₹10,000. Penalty for non-maintenance of minimum monthly average balance is 6% of the shortfall amount or ₹500, whichever is lower.
Withdrawal fees
Complimentary cash withdrawals at branches
The bank has also set a monthly cap of three complimentary cash withdrawals at branches. Beyond that, each transaction will cost ₹150. The value limit is complimentary up to a total of ₹1 lakh per month. Beyond this limit, the charge will be ₹3.5 per ₹1,000 or ₹150, whichever is higher. A third-party cash withdrawal limit of ₹25,000 per transaction is applicable for all savings accounts.
Fee adjustments
Charges for non-ICICI Bank ATMs
For non-ICICI Bank ATMs, customers will be charged ₹23 for each financial transaction and ₹8.5 for each non-financial transaction after exceeding the limit of three free transactions per month. This applies to six metro locations: Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad. Beyond these locations, customers will be charged after exceeding five free transactions per month.
Service fees
Other service charges to consider
ICICI Bank will charge ₹50 per transaction during non-working hours for deposits exceeding ₹10,000 during those hours. This is over and above the charges of cash transactions. Other service charges include ₹300 annual fee for debit cards (₹150 p.a. for Gramin locations), replacement card fees of ₹300 p.a., and value-added SMS at 15 paisa per SMS with an upper limit of ₹100 per quarter.