icici bank: Has ICICI Bank taken a U-turn on Rs 50,000 monthly average balance? Here’s what it’s website shows
ICICI Bank said: “We had introduced new requirements for the Monthly Average Balance (MAB) for new Savings Accounts opened from August 1, 2025. Following valuable feedback from our customers, we have revised these requirements to better reflect their expectations and preferences.”
According to the ICICI Bank website, the monthly minimum average balance (MAB) for urban locations is now Rs 15,000. Prior to this change it was Rs 50,000. For semi-urban locations the MAB is now revised to Rs 7,500. Previously, the MAB stood at Rs 25,000 for semi urban areas.
https://www.icicibank.com/content/dam/icicibank/india/managed-assets/docs/pdf/savings-account.pdf
Source: ICICI Bank website (https://www.icicibank.com/content/dam/icicibank/india/managed-assets/docs/pdf/savings-account.pdf)
Please note: This Schedule of Charges (SOC) and MAB requirements are not applicable to Salary Accounts, Senior Citizens / Pensioners (Above 60 years), BSBDA/PMJDY, and Accounts for people with special needs. They are also not applicable to Savings Accounts opened before July 31, 2025.
We have sent our queries to ICICI bank and are waiting for their response.
Also read: ICICI Bank branch manager duped depositors of crores for years to meet targets.
How is Minimum monthly average balance (MAB) calculated?
MAB is the simple average of day-end balances for a calendar month. MAB is calculated by dividing the closing day balances in your account every single day, and dividing them by 30, or 31, whatever the length of the ongoing month has been. In the case of ICICI Bank, if the individual failed to maintain this MAB, they would be penalised 6% of the shortfall, or Rs 500, whichever is lower. Following this, in case the MAB in your account came down to Rs 9500, you’ll be required to pay penalty of 6% on the shortfall of Rs 500, i.e. Rs 30.
While these rules were not applicable to existing ICICI customers i.e. those who held an account with the bank before August 1, 2025, the rules significantly impacted those opening an account with the bank post this date. While calculating MAB, it is important to remember that you are not required to maintain the MAB in your account at all times. This means that in case the MAB stipulated by your bank is Rs 10000, it does not mean that you are required to have Rs 10,000 in your account at all times. It simply means that the average of your daily closing balances should come down to 10,000.
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