Delhi, India | August 9, 2025 —
ICICI Bank has revised its policy for new savings accounts by increasing the minimum monthly average balance (MAB) requirement to ₹50,000. Customers who fail to maintain this minimum balance will be charged a penalty. The penalty will be 6% of the shortfall amount or ₹500, whichever is lower.
This move is aimed at encouraging higher deposits and improving the bank’s operational efficiency. Existing account holders are not affected by this change. However, new customers opening savings accounts after this announcement must ensure they meet the MAB requirement to avoid penalties.
The penalty clause means if an account holder’s average balance in a month falls below ₹50,000, they will be liable to pay a fee calculated as 6% of the shortfall amount. For example, if the balance is ₹40,000, the shortfall is ₹10,000, and the penalty will be ₹600 (which will be capped at ₹500 as it is lower).
ICICI Bank’s decision reflects a trend among private banks to streamline costs and focus on high-value customers. Customers are advised to review their account statements regularly and maintain the stipulated balance to avoid charges.
