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Bank Minimum Balance: ICICI Bank has shocked its customers by increasing the minimum balance for savings account to Rs 50,000. But know which banks are offering zero balance facility.
ICICI Bank has given a big shock to the customers by increasing the minimum average monthly balance (MAMB) or minimum balance for savings account from Rs 10,000 to Rs 50,000 directly. These changes will be applicable only on new accounts opened on or after August 1, 2025. The bank has also increased the minimum balance in semi-urban and rural branches. This is one of the biggest increases among private sector banks.
ICICI Bank New Rules
The minimum average monthly balance (MAMB) in metropolitan and urban branches has increased from Rs 10,000 to Rs 50,000. In semi-urban branches, it will increase from Rs 5,000 to Rs 25,000, while the minimum balance in rural branches has doubled from Rs 5,000 to Rs 10,000.
What are other banks doing?
In contrast, other banks like State Bank of India (SBI) are softening their stance on the minimum average balance requirement for both rural and urban areas. State Bank of India had abolished the minimum average balance requirement on all savings accounts for both rural and metros in 2020. Similarly, Punjab National Bank (PNB) and Canara Bank had announced the removal of penalty for not maintaining minimum balance in all savings accounts.
Know how much minimum balance is required in rural and urban branches of other banks
| Bank | Rural Branch | Urban/Metro Branch |
| state Bank of India | Zero Minimum Balance | Zero Minimum Balance |
| Union Bank Of India | With cheque book: Rs 250, without cheque book: Rs 100 | With cheque book: Rs 1,000, without cheque book: Rs 500 |
| HDFC Bank | Rs 2,500 | Rs 10,000 |
| ICICI Bank | Rs 10,000 | Rs 50,000 |
| Axis Bank | Rs 2,500 | Rs 12,000 |
| Bank Of Baroda | Rs 500 | Rs 2,000 |
| bank of india | Zero Minimum Balance | Zero Minimum Balance |
Increasing the minimum balance (MAMB) of savings account from Rs 10,000 to Rs 50,000 by ICICI Bank is no less than a shock for the customers.
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