New Delhi, Aug 9 (UNI) ICICI Bank increased its monthly minimum average balance (MAB) requirement for savings accounts with effect from August 1, 2025. The changes under the new rules are now in effect.
The minimum monthly average balance (MAB) requirement refers to the minimum balance a customer needs to maintain in his/her bank account. In case the balance in the bank account falls below the minimum requirement, then banks levy a penalty for failing to maintain the MAB.
As per the new rules, the average minimum balance requirement for metro and urban locations has been increased to Rs 50,000, which was previously Rs 10,000. For semi-urban locations, it is Rs 25,000, which was previously Rs 5,000.
Moreover, rural customers also need to maintain a monthly average balance of Rs 10,000, compared to the previous Rs 5,000.
ICICI Bank also revised its service charge rates for cash transactions, impacting deposits and withdrawals at branches as well as cash recycler machines. Customers will now get three complimentary cash deposit transactions per month, after which each transaction will attract a fee of Rs 150.
A cumulative monthly deposit limit of Rs 1 lakh will remain free, beyond which charges of Rs 3.5 per Rs 1,000 or Rs 150 — whichever is higher — will apply. Third-party cash deposits will continue to be capped at Rs 25,000 per transaction.
Moreover, the hike in MAB by ICICI Bank is the highest among its competitors, as HDFC Bank’s MAB requirement for metro and semi-urban areas is Rs 10,000 and Rs 5,000, respectively. Moreover, for rural branches, it is Rs 2,500.
The move taken by ICICI is intended to promote premiumization and targets customers who prefer higher-quality products. Moreover, ICICI also wants to shift the customers’ attraction towards the bank’s personalized services, exclusive benefits, and specialized features.
