From ₹50,000 to ₹15,000: ICICI Bank Reduces Minimum Balance for New Savings Accounts After Feedback

From August 1, 2025, ICICI Bank will significantly lower the minimum balance requirements for new savings accounts, making banking more accessible for a wider range of customers.

Revised Minimum Balance Norms

The bank has announced a reduction in the monthly average balance (MAB) for accounts opened from August 1, 2025. In metro and urban locations, the MAB has been reduced from ₹50,000 to ₹15,000. For semi-urban locations, the new MAB will be ₹7,500, while in rural areas, it will be ₹2,500.

Special Provisions For Certain Categories

Pensioners below 60 years of age and students from 1,200 identified institutions will benefit from a nil MAB facility. This move aims to ease the financial burden on these specific groups.

Categories Unaffected By The Change

The revised norms will not apply to salary accounts, senior citizens and pensioners above 60 years, Basic Savings Bank Deposit Accounts (BSBDA), Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, or accounts held by individuals with special needs. These categories will continue with their existing terms.

Savings accounts opened before July 31, 2025, will remain unaffected by the revised requirements.

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Conclusion 

In its official statement, ICICI Bank expressed gratitude towards its customers, stating, “We thank our customers for their continued trust and feedback, which helps us serve them better.” The revision comes after the bank received what it described as “valuable feedback” from customers.

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