ICICI Bank Minimum Balance: ICICI Bank has revised its minimum balance requirement rule on Thursday, August 13, after it came under the ire of general public following a steep hike in the same.
The new ICICI Bank minimum balance requirement is significantly lower than that of the previous notice.
Here is everything you need to know about the new ICICI Bank minimum balance requirement.
ICICI Bank minimum balance new rule
According to the official website of the ICICI Bank, the minimum balance requirement for urban and metro areas is ₹15,000, down from ₹50,000.
For semi-urban areas, ICICI Bank minimum balance in savings account has been revised to ₹7,500.
For rural areas, the minimum monthly average balance (MAB) ICICI Bank requires is ₹2,500. This is even lower than the earlier minimum balance the bank required from rural customers.
These new rates are applicable for accounts opened on or after August 1, 2025, ICICI Bank said. For accounts opened before that, the old rules will apply.
If customers fail to maintain the revised minimum account balance, they will be charged 6 per cent of the shortfall in the required MAB or ₹500, whichever is lower.
ICICI Bank minimum balance hike
Earlier this week, ICICI Bank faced severe backlash from the general public after hiking its minimum balance for savings accounts to ₹50,000 for urban and metro areas, up 5x from ₹10,000.
For semi-urban areas, it was hiked to ₹25,000, up from ₹5,000; for rural areas ICICI Bank hiked the same to ₹10,000, up from ₹5,000.
ICICI Bank faces backlash
Since hiking the minimum balance earlier this week, ICICI Bank faced severe criticism from people across all walks of life.
Social media influencer Anuj Prajapati called it the ‘worst decision’.
“The Worst Decision of ICICI Bank,” said Prajapati. “Why the hell people put their money in accounts. Urban youth wants to invest those money not to sit dead in Bank Accounts (sic),” he said in a post.
“Better to close the account of ICICI bank and move to other banks with attractive benefit,” said a netizen.
Uday Kotak’s son Jay Kotak also criticised the move without naming ICICI Bank.
“Every Indian must access our financial sector. 90% of India makes less than ₹25,000 a month. A ₹50,000 minimum balance implies a sum equal to ~94% of Indians monthly income is to be left with the bank at all times, else a fee!,” he said in a post on X.
