ICICI Bank Minimum Balance: Private sector lender ICICI Bank has sharply increased the requirement of minimum balance in savings account. Now ICICI Bank account holders will have to maintain an average balance of at least ₹ 50000 in their savings account.
This rule is effective from 1 August 2025. The change made by the bank in the rules related to minimum balance has increased the minimum balance limit in savings accounts from metro cities to villages. Now an average balance of at least ₹ 50 thousand will be required to be maintained in metro and urban areas, ₹ 25 thousand in semi-urban areas and ₹ 10 thousand in villages.
Add rightsofemployees.com as a Preferred Source
Earlier, the minimum balance required to be maintained was at least ₹10,000 on an average in metro and urban areas, ₹5000 in branches in semi-urban areas and at least ₹2500 in branches in villages. With the increase in the minimum account balance limit, ICICI Bank has the highest minimum account balance (MAB) among domestic banks.
What is the situation in other banks?
ICICI Bank has increased the minimum balance limit in savings account to ₹ 50000. At the same time, the country’s largest lender in the public sector, SBI, had removed the rule of minimum balance in savings account in the year 2020 itself. The rest of the banks have made a provision of minimum balance of at least ₹ 2000 to ₹ 10 thousand in the savings account to manage the operational cost. Talking about HDFC Bank, the country’s largest bank in the private sector, it is mandatory to keep at least ₹ 10000 in the savings account of metro and urban branches, ₹ 5000 in banks in semi-urban areas and ₹ 2500 for branches in villages.
What will happen if there is no minimum balance?
The bank sets minimum balance rules for its daily operational expenses. If you go below this limit, you may have to pay a penalty. Since ICICI Bank has increased the minimum balance limit for savings accounts on August 1, account holders should check their balance immediately so that they can maintain the required balance to avoid any penalty.
Add rightsofemployees.com as a Preferred Source
