Big Change for ICICI Bank Customers: Minimum Balance Requirement Updated

New Delhi(The Uttam Hindu): ICICI Bank, India's second-largest lender, has increased the minimum average balance requirement for savings accounts opened on or after August 1, 2025. For accounts in metro and urban areas, the minimum balance has been hiked to ₹50,000 from ₹10,000. In semi-urban areas, the requirement is now ₹25,000, up from ₹5,000. For rural branches, accounts must maintain ₹10,000, compared to the earlier ₹2,500.

Implications of the Hike

Customers who fail to maintain the required minimum average balance will face a penalty of 6% of the shortfall amount or ₹500, whichever is lower. ICICI Bank also offers three free cash deposits per month into savings accounts; after that, a fee of ₹150 will be charged per transaction. The cumulative value limit is ₹1 lakh per month.

Comparison with Other Banks

This hike contrasts with moves by many public sector banks that have relaxed penalties tied to balance maintenance. The country's largest lender, State Bank of India, hasn't levied non-maintenance penalties since 2020.