ICICI Bank has modified its minimum average balance for savings accounts. The new guidelines are for customers of its metro, urban, semi-urban, and rural branches from August 1, 2025.
New Minimum Balance Guidelines
- Metro and Urban Regions: Increased minimum average balance from Rs. 10,000 to Rs. 50,000.
- Semi-Urban Regions: Raised minimum average balance from Rs. 5,000 to Rs. 25,000.
- Rural Regions: Raised minimum average balance from Rs. 2,500 to Rs. 10,000.
Bank's Tip to Account Holders
ICICI Bank has recommended account holders keep checking their balances. Charges will be levied if the new minimum balance is not kept.
Comparison with Other Banks
- HDFC Bank: Rs. 10,000 max requirement in metros and urban areas.
- Axis Bank: Rs. 12,000 requirement in metros and urban areas.
- ICICI Bank: Now charges highest minimum balance amongst home banks.
Some banks have removed the penalty for low balance:
- SBI removed the fee in 2020.
- Punjab National Bank, Bank of Baroda, Indian Bank, and Canara Bank have also recently removed these charges.
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