ICICI Bank Adjusts Minimum Balance Rules After Public Feedback

Following significant public backlash, ICICI Bank has decided to revise its recently announced minimum monthly average balance (MAB) requirements for new account holders. The bank initially set the MAB at Rs 50,000 for metro and urban locations, which has now been adjusted to Rs 15,000 for the same areas.

Revised MAB Requirements Across Different Locations

The revised norms now require a Rs 7,500 MAB for semi-urban areas and Rs 2,500 for rural locations. This adjustment comes after the bank's initial announcement, which also included a penalty of 6% of the shortfall or Rs 500, whichever was lower, for failing to meet the MAB.

Exceptions to the New MAB Rules

It's important to note that these changes do not apply to salary accounts, senior citizens and pensioners above 60 years, BSBDA/PMJDY accounts, or accounts for people with special needs. Additionally, savings accounts opened before July 31, 2025, are exempt from these new requirements.