ICICI Bank takes a U-turn on the Rs 50,000 minimum balance rule, know here...

If you have a new savings account in ICICI Bank or are thinking of opening one, then this news is for you. The bank has made a big change in its minimum balance rule. Earlier, where the monthly average balance (MAB) for new savings accounts was fixed at Rs 50,000, now it has been reduced to just Rs 15,000. The bank has taken this U-turn after getting into controversy due to the anger of the customers and trolling on social media.

Customers' anger erupted over the increasing minimum balance.

ICICI Bank has made the minimum balance for new savings accounts Rs 50,000 from August 1, 2025. As soon as this rule came into effect, the bank had to face severe criticism on social media. Customers said that it is difficult to keep such a huge amount in balance, especially for people in the middle class, semi-urban, and rural areas.

What is the new minimum balance for a savings account?

According to the website of ICICI Bank, the new minimum balance for metro and urban locations is Rs 15,000. In semi-urban areas, this amount has been kept at Rs 7,500, and in rural locations, only Rs 2,500. Earlier, this amount was Rs 50,000, Rs 25,000, and Rs 10,000, respectively.

Penalty rules
If the customer does not maintain the fixed monthly average balance in his account, then the bank will deduct 6% of the shortfall amount or Rs 500, whichever is less, as a penalty. However, these rules will not apply to customers with a pension account and a student savings account.

What does RBI have to say on the minimum balance rule?
When ICICI Bank implemented the rule of Rs 50,000, the question arose whether the RBI had made any guidelines on such rules. RBI Governor Sanjay Malhotra clarified that the decision on the minimum balance of a savings account is completely dependent on the banks. RBI does not interfere in this. Some banks keep Rs 10,000, some Rs 2,000, and some have no balance limit.

Relief for ICICI Bank customers

After this change, ICICI Bank's minimum balance rule (Minimum Account Balance) has again become easy for many customers. Now it will be easy for people of the middle class, semi-urban, and rural areas to operate their accounts and also avoid penalties. The bank said that they have taken this step keeping in mind the feedback of the customers, so that rules can be made according to their expectations and needs.

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