ICICI Bank Announces Lower Minimum Balance Requirements For Savings Accounts From August 2025

ICICI Bank has reduced the minimum monthly average balance for new savings accounts in metro areas to Rs 15,000, effective August 2025. Customers in semi-urban and rural areas will have lower requirements, reflecting the bank's commitment to aligning with customer preferences.

ICICI Bank has announced a reduction in the minimum monthly average balance (MAB) for new savings accounts in metro and urban areas to Rs 15,000. This change, effective from August 1, 2025, is based on customer feedback. Accounts opened before July 31, 2025, will continue under previous terms.

Revised MAB Requirements

For semi-urban locations, customers must maintain an MAB of Rs 7,500. In rural areas, the requirement is even lower at Rs 2,500. Certain groups like pensioners below 60 years and students from select institutions are exempt from maintaining any minimum balance.

The revised rules do not apply to salary accounts, senior citizens' accounts, basic savings bank deposit accounts, or accounts for individuals with special needs. Customers in premium programmes such as Select Banking can avoid charges if they meet eligibility conditions.

Penalty for Non-Compliance

If the required MAB is not maintained, a fee of 6% of the shortfall or Rs 500 (whichever is lower) will be charged. ICICI Bank stated that these changes were made to better align with customer expectations and preferences.

Transaction Limits and Charges

The bank has set limits on transactions. Customers can make up to five free ATM withdrawals at non-ICICI ATMs each month (maximum three in metro cities). Branch cash transactions are free for up to three transactions or ₹1 lakh per month.

Charges apply for services like cheque returns and debit card replacements. For cash deposits at branches and cash recycler machines, customers get three complimentary deposits per month; subsequent deposits are charged Rs 150 each.

Cash Withdrawal Charges

For cash withdrawals at branches, three free withdrawals per month are allowed; after that, a fee of Rs 150 per transaction applies. The complimentary value limit is Rs 1 lakh per month; beyond this limit, charges are Rs 3.5 per Rs 1,000 or ₹150.

ATM Transaction Fees

In six metro cities—Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Hyderabad—Rs 23 is charged per financial transaction and ₹8.5 per non-financial transaction after three free transactions monthly. Other locations allow five free transactions monthly before fees apply.

International ATM withdrawals incur a charge of ₹125 per transaction plus a currency conversion fee of 3.5%. Non-financial international transactions are charged ₹25 each.

The Minimum Average Balance (MAB) is calculated as the simple average of day-end balances for a calendar month. Earlier requirements asked metro and urban branch customers to maintain an MAB of Rs 50,000; semi-urban branches required Rs 25,000; rural branches needed Rs 10,000.