ICICI Bank Hikes Minimum Balance for New Accounts

ICICI Bank has increased the minimum balance requirement for new savings bank accounts to Rs 50,000 from August 1, 2025. Semi-urban and rural account minimums have also risen. Failure to maintain the balance will incur penalties. Existing account holders retain their current minimum requirement.

ICICI Bank has raised its minimum balance requirement for new savings account holders by fivefold, setting the new minimum at Rs 50,000 effective August 1, 2025. Previously, the requirement stood at Rs 10,000.

Customers in semi-urban and rural areas will also face increased minimums of Rs 25,000 and Rs 10,000, respectively. Non-compliance with these new minimum average balances (MAB) will result in a penalty of 6% of the shortfall or Rs 500, whichever is lower.

The hike comes as public sector banks, led by the State Bank of India, reduce or eliminate such penalties. However, zero balance accounts, like salary accounts or PM Jandhan accounts, remain exempt from this new policy.

(With inputs from agencies.)