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ICICI Bank rolls back decision on minimum account balance, slashes it to ₹15k from ₹50k
ICICI Bank cut the minimum average monthly balance to ₹15,000 after customer objections, still imposing penalties for shortfalls and exempting pensioners and students, serving over 35 million accounts.
- On August 14, 2025, ICICI Bank reversed its earlier decision to increase the minimum average monthly balance for certain savings accounts from ₹10,000 to ₹50,000, instead setting the requirement at ₹15,000.
- The rollback followed strong customer feedback and came after ICICI Bank initially revised MAB requirements in July, scheduling the hike to take effect from September 1, 2025.
- The revised MAB requirements now set ₹15,000 for metro and urban, ₹7,500 for semi-urban, and ₹2,500 for rural accounts, excluding salary, pensioner, and basic savings accounts among others.
- ICICI Bank will levy a penalty of 6% of the shortfall or ₹500 if MAB is not met, plus ₹23 per financial ATM transaction after five free withdrawals, while nonfinancial transactions remain free.
- The rollback offers relief amid a trend where most public sector banks removed or rationalised minimum balance charges to promote financial inclusion, signaling competitive pressure on private banks like ICICI.
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11 Articles
SBI vs ICICI Bank vs HDFC Bank: Don't open your savings account until you check minimum balance requirement
While it was under fire after hiking the minimum balance for savings accounts to Rs 50,000 from a previous minimum balance threshold of Rs 10,000, ICICI Bank has revisited its decision by decreasing the amount to Rs 15,000. Let’s delve into a comparative analysis of the minimum balance required by important banks in the country, such as the State Bank of India (SBI), ICICI, and the HDFC Bank. SBI Minimum Balance The State Bank of India, which i…
ICICI Bank Rolls Back Decision on Minimum Account Balance, Slashes It to Rs 15k from Rs 50k
Get latest articles and stories on Business at LatestLY. In a major relief to its customers, ICICI Bank on Thursday announced a rollback of its recent decision to hike the minimum average monthly balance (MAB) for certain savings accounts to Rs 50,000. The private sector lender has now reduced the MAB requirement to Rs 15,000. Business News | ICICI Bank Rolls Back Decision on Minimum Account Balance, Slashes It to Rs 15k from Rs 50k.
ICICI Bank rolls back decision on minimum account balance, slashes it to ₹15k from ₹50k
In a major relief to its customers, ICICI Bank on Thursday announced a rollback of its recent decision to hike the minimum average monthly balance (MAB) for certain savings accounts to ₹50,000. The private sector lender has now reduced the MAB requirement to ₹15,000.
ICICI Bank rolls back decision on minimum account balance, slashes it to Rs 15k from Rs 50k - The Tribune
In a major relief to its customers, ICICI Bank on Thursday announced a rollback of its recent decision to hike the minimum average monthly balance (MAB) for certain savings accounts to Rs 50,000. The private sector lender has now reduced the MAB requirement to Rs 15,000.
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