ICICI Bank Increases Minimum Balance Rule: Here's What It Means for You

ICICI Bank has increased the average monthly minimum balance for savings accounts. It's now Rs 50,000 in metros, Rs 25,000 in urban areas, and Rs 10,000 in rural areas. This has shocked customers.

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Minimum Balance Hike

ICICI Bank has significantly increased the average monthly minimum balance for its savings accounts, shocking customers.

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Minimum Balance Increased

Metro customers now need Rs 50,000 instead of Rs 10,000. Urban minimum is Rs 25,000 (up from Rs 5,000), and rural is Rs 10,000 (up from Rs 2,500). ICICI now has the highest minimum balance requirement among domestic banks.

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Other Banks

SBI removed minimum balance in 2020. HDFC Bank's is Rs 10,000 (metro), Rs 5,000 (semi-urban), Rs 2,500 (rural). Most banks have minimums between Rs 2,000 and Rs 10,000.

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Why the Change?

The change reportedly offsets daily operations and maintenance costs. Penalties for not maintaining the balance start August 1st.

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Interest Rate Cut

Savings account interest rates were also cut on April 16, 2025, to 2.75% (up to Rs 50 lakh) and 3.25% (above Rs 50 lakh), potentially reducing customer returns.

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Customer Reactions

The minimum balance hike and interest rate cut burden customers, reportedly leading many to reconsider their accounts.