ICICI Bank revises minimum account balance from Rs 50,000 to Rs 15,000 for metro customers

ICICI

ICICI Bank on Wednesday revised its minimum account balance (MAB) for its metro & urban, semi-urban, and rural locations after it hiked MAB few days earlier citing "valuable feedback" from customers.

The lender has slashed the MAB for metro & urban locations to Rs 15,000 from Rs 50,000, for semi-urban to Rs 7,500 from Rs 25,000  and for rural to Rs 2,500 from Rs 10,000.

"Following valuable feedback from our customers, we have revised these requirements to better reflect their expectations and preferences. We thank our customers for their continued trust and feedback, which help us serve them better," ICICI Bank posted on its website.

However, the bank said, the revised MAB requirements are not applicable to salary accounts, senior citizens/pensioners (above 60 years), basic savings bank deposit account/PM Jandhan Yojana, and accounts for people with special needs.

They are also not applicable to savings accounts opened before July 31, 2025.

MAB is the minimum balance that a customer is required to maintain in a bank account. If the balance falls below the required amount, the bank levies a penalty.

Customers failing to meet the required MAB will face a penalty of 6 percent of the shortfall or Rs 500, whichever is lower.