MONEY
ICICI Bank raises monthly minimum balance for some customers by fivefold to Rs 50,000
- IBJ Bureau
- Aug 10, 2025
CICI Bank has increased the monthly minimum average balance requirement for certain customer categories, effective August 1.
The move is aimed at expanding the bank’s premium customer base, a banker has said on condition of anonymity. The minimum monthly average balance for metro and urban customers opening savings accounts on or after August 1 has been raised to Rs 50,000, up from the earlier Rs 10,000. The Rs 10,000 requirement will continue to apply to existing customers.
The details of ICICI Bank’s minimum average balance requirements are mentioned on its official website.
For new account-holders in semi-urban areas, the monthly minimum average balance has been raised to Rs 25,000, while rural customers will need to maintain Rs 10,000. Existing customers in both the categories will continue with the earlier requirement of Rs 5,000.
Those failing to meet the requirement will face a penalty of 6 per cent of the shortfall or Rs 500, whichever is lower. The move marks a significant shift by the country’s second-largest lender, even as several banks are softening their penalty structures. State Bank of India, the country’s largest lender, has already scrapped all minimum balance charges.
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