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ICICI Bank announces that, with immediate effect, the MAMB for such accounts will be Rs 15,000, instead of the Rs 50,000 decided earlier.
The minimum monthly average balance (MAB) for savings bank accounts till July 31, 2025 for ICICI Bank customers was Rs 10,000.
ICICI Bank Minimum Balance Update: ICICI Bank has rolled back its recent decision to increase the minimum average monthly balance (MAMB) requirement for new savings bank accounts in metro and urban areas opening after August 1, 2025. The bank on August 13 announced that, with immediate effect, the MAMB for such accounts will be Rs 15,000, instead of the Rs 50,000 decided earlier.
The minimum monthly average balance (MAB) for savings bank accounts till July 31, 2025, for ICICI Bank customers was Rs 10,000.
Last week, the private sector lender had earlier revised the MAMB for new accounts opened on or after August 1, 2025, in metro and urban branches from Rs 10,000 to Rs 50,000. The sharp hike had drawn strong feedback from customers and prospective account holders, leading the bank to reconsider the move.
Under the revised terms, new savings account holders in semi-urban and rural branches will be required to maintain Rs 7,500 and Rs 2,500, respectively, as against the Rs 25,000 and Rs 10,000 decided earlier by ICICI Bank.
Customers who fail to meet the requirement will face a penalty of 6% of the shortfall or Rs 500, whichever is lower.
Salary Account Holders Will Continue To Have Zero Balance Facility
Salary accounts are typically zero-balance accounts, meaning there is no minimum balance requirement.
Will Basic Savings Bank Deposit Accounts (BSBDA) Be Impacted?
BSBDAs, which banks are mandated by the Reserve Bank of India (RBI) to offer, have a zero minimum balance requirement. They will not be impacted by these changes.
What Are The Updated Cash Deposit And Withdrawal Limits?
- Free limit: 3 transactions per month at branches and cash recycler machines
- Beyond free limit: Rs 150 per transaction
- Free value limit: Rs 1 lakh per month; above this, Rs 3.5 per Rs 1,000 or Rs 150 (whichever is higher)
- Third-party limit: Rs 25,000 per transaction for both deposits and withdrawals
Are There Additional Charges For Certain Cash Deposits?
Yes. Deposits through cash acceptor or recycler machines outside working hours (4:30 pm to 9 am) or on holidays will incur a Rs 50 fee if the total exceeds Rs 10,000 in a month. This is over and above standard transaction fees.
What Are The Charges For Non-ICICI Bank ATM Transactions?
In six metro cities — Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad — first three transactions are free (including financial and non-financial transactions).
- Rs 23 per financial transaction after the first three transactions in a month
- Rs 8.5 per non-financial transaction after the first three transactions in a month.
HDFC Bank Hikes Minimum Balance Requirement
Private lender HDFC Bank has increased MAB to Rs 25,000 effective from August 1, 2025, for new savings account holders. For urban and metro bank branches, the penalty is calculated as 6 per cent of the shortfall or Rs 600, whichever is lower.
Minimum Balance Requirement At Other Banks
| Here’s the minimum balance requirement for rural and urban/metro branches for other banks (savings account): | ||
| Bank | Rural Branches | Urban/Metro Branches |
| State Bank of India | Zero balance | Zero balance |
| Union Bank of India | With cheque book: Rs. 250 | With cheque book: Rs. 1,000 |
| Without: Rs. 100 | Without: Rs. 500 | |
| HDFC Bank | — | Rs. 25,000 |
| ICICI Bank | Rs. 2,500 | Rs. 15,000 |
| Axis Bank | Rs. 2,500 | Rs. 12,000 |
| Bank of Baroda | Rs. 500 | Rs. 2,000 |
| IDFC First Bank | Rs. 10,000 or Rs. 25,000 | Rs. 10,000 or Rs. 25,000 |
| Bank of India | Rs. Zero | Zero |
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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