ICICI Bank has increased the average minimum balance requirement for savings accounts opened on or after August 1
ICICI Bank Increases Average Minimum Balance: ICICI Bank has increased the average minimum balance requirement for savings accounts opened on or after August 1, 2025.
This move is aimed at expanding its premium customer base, a banker told NDTV Profit on condition of anonymity.
In metro and urban branches, the minimum average monthly balance (MAMB) will be Rs 50,000, up from the earlier Rs 10,000. In semi-urban branches, it will rise to Rs 25,000 from Rs 5,000, while in rural branches, the requirement will double to Rs 10,000 from Rs 5,000. The higher MAMB will apply only to new accounts opened after August 1.
Customers who fail to meet the requirement will face a penalty of 6% of the shortfall or Rs 500, whichever is lower. The move marks a significant shift for one of India’s largest private lenders, especially as other banks are softening their penalty structures — State Bank of India, for instance, has already scrapped all minimum balance charges.
The bank has also revised its service charges for cash transactions. For deposits at branches and cash recycler machines, customers will be allowed three complimentary transactions per month.
Each additional transaction will be charged at Rs 150. A cumulative monthly value limit of ₹1 lakh will be available without charge, beyond which Rs 3.5 per Rs 1,000 or Rs 150 — whichever is higher — will apply. Third-party cash deposits will be capped at Rs 25,000 per transaction.
Cash withdrawals at branches will follow the same structure — three free transactions per month, Rs 150 per additional transaction, and a free cumulative monthly limit of Rs 1 lakh. Withdrawals beyond this limit will also be charged at Rs 3.5 per Rs 1,000 or Rs 150, whichever is higher. Third-party withdrawals will likewise be capped at Rs 25,000 per transaction.
Deposits made via cash acceptor or recycler machines during non-working hours (4:30 p.m. to 9:00 a.m.) and on holidays will attract a charge of Rs 50 per transaction if total deposits exceed ₹10,000 in a month, whether in a single or multiple transactions. These charges will be levied in addition to standard cash transaction fees.