ICICI Bank withdraws ₹50,000 balance rule: Check the new minimum
What's the story
ICICI Bank has withdrawn its minimum balance requirement of ₹50,000 for new savings accounts. The decision comes after widespread criticism from customers. The bank has now revised its monthly average balance (MAB) norms to ₹15,000 for metro/urban areas, ₹7,500 for semi-urban areas, and ₹2,500 for rural branches. The revised rules are applicable only to new accounts opened after August 1, 2025.
New regulations
Exemptions and other considerations
The revised MAB norms don't apply to salary accounts, senior citizen accounts, BSBDA/PMJDY accounts, and those for differently-abled individuals. Accounts opened before July 31, 2025, remain unaffected by these changes. The bank has also reiterated its transaction fee rules. It allows up to five free transactions per month across locations with a maximum of three in six metros: Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad.
Information
Beyond free limit, ICICI Bank charges ₹23 per financial transaction
Beyond the free limit, ICICI Bank charges ₹23 per financial transaction and ₹8.5 per non-financial transaction at both its own and other bank ATMs. The charges may vary slightly depending on the location.