ICICI Bank Increases Minimum Balance for New Savings Accounts to ₹50,000 in Metro Cities

Starting August 1, 2025, ICICI Bank will require significantly higher minimum average monthly balances (MAMB) for savings accounts opened in metro and urban branches. The bank’s move, aimed at expanding its premium customer base, sets the MAMB at ₹50,000 in metro areas — a sharp rise from the previous ₹10,000.

Revised Minimum Balance Requirements

• Metro & Urban Branches: ₹50,000 (up from ₹10,000)
• Semi-Urban Branches: ₹25,000 (up from ₹5,000)
• Rural Branches: ₹10,000 (up from ₹5,000)

These higher requirements apply only to new savings accounts opened on or after August 1, 2025.

Penalties for Non-Compliance

If account holders fail to maintain the required MAMB, the penalty will be 6% of the shortfall or ₹500, whichever is lower. This policy shift contrasts with other banks like the State Bank of India, which has removed all minimum balance charges.

Revised Cash Transaction Charges

ICICI Bank has also revised its service charges for cash deposits and withdrawals:

• Three free transactions per month at branches or cash recycler machines.
• ₹150 per additional transaction beyond the free limit.
• Cumulative free monthly limit of ₹1 lakh; beyond this, ₹3.5 per ₹1,000 or ₹150 applies.
• Third-party deposits and withdrawals capped at ₹25,000 per transaction.

Additional Deposit Charges

Deposits made via cash acceptor or recycler machines outside working hours (4:30 p.m. to 9:00 a.m.) or on holidays will attract a ₹50 per transaction fee if monthly deposits exceed ₹10,000. These are in addition to standard cash transaction charges.

ATM Transaction Charges

For ATM transactions at non-ICICI Bank ATMs in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad:

• ₹23 per financial transaction after the first three free transactions in a month.
• ₹8.5 per non-financial transaction after the free limit.
• Limit applies to combined total of both financial and non-financial transactions.

Impact on Customers

The move signals ICICI Bank’s shift towards a more premium customer base, potentially impacting customers seeking low-balance savings accounts. New account holders should review the revised rules to avoid unexpected charges.