ICICI Bank has raised the minimum average balance required for new savings accounts opened from August onwards. According to the lender’s official website, in metro and urban regions, the minimum average monthly balance (MAMB) now stands at ₹50,000 from the previous ₹10,000. For semi-urban branches, it is ₹25,000 from ₹5,000, and in rural branches, the requirement has doubled to ₹10,000 from ₹5,000.
The bank has updated its service charges for cash transactions. Customers can now make three complimentary cash deposits at branches and cash recycler machines each month. After that, each transaction will cost ₹150. There is a total monthly limit of ₹1 lakh for free deposits; exceeding this will incur a fee of ₹3.5 per ₹1,000 or ₹150—whichever is higher. Additionally, third-party cash deposits are limited to ₹25,000 per transaction.
