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. Earlier, the minimum balance required was ₹ 10000
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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 is that the minimum balance limit has been increased in savings accounts from metro cities to villages. Now an average balance of at least ₹ 50 thousand will be required in metro and urban areas, ₹ 25 thousand in semi-urban areas and ₹ 10 thousand in villages.
Earlier, there was a need to maintain an average balance of at least ₹ 10 thousand in metro and urban areas, ₹ 5000 in semi-urban area branches and at least ₹ 2500 in village branches. 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 the minimum balance is not maintained?
The bank makes rules related to minimum balance for its daily operational expenses. Penalty may have to be paid if it goes below this. As ICICI Bank has increased the minimum balance limit for savings accounts from August 1, account holders should check their balance quickly so that they can maintain the required balance to avoid any penalty.
