ICICI Bank.
The country’s second largest private bank has changed the decision to keep minimum ₹ 50,000 in savings accounts. Now there is no need to keep 50 thousand rupees in a savings account. The bank has reduced the minimum monthly average balance (MAB) of ₹ 15,000 for new savings accounts in metro and urban areas, will be applicable from 1 August.
Apart from this, the bank has reduced the MAB from ₹ 25,000 to ₹ 7,500 for new accounts in semi-urban areas, while in rural areas it has been reduced from ₹ 10,000 to ₹ 2,500. The bank said that from 1 August 2025, new conditions of MAB were implemented for the new savings account, but after the response from customers, these conditions have been changed.
The bank had to face criticism
The average balance is an average of all days of the month. After increasing the MAB for the new savings account, ICICI Bank had to face a sharp criticism of customers on social media. Even after the amendment, the new MAB is more than before. The first metro and urban areas had MAB ₹ 10,000 for new accounts, ₹ 5,000 in semi-urban branches and ₹ 5,000 in rural branches. Earlier this week, the Reserve Bank of India (RBI) Governor Sanjay Malhotra clarified that the banks have the right to decide the amount of MAB and there is no regulatory ban on it.
How much is the minimum avring balance in other bank
Other big private banks like HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Yes Bank etc. have the condition of MAB for metro and urban areas ₹ 10,000. Government banks like State Bank of India, Bank of Baroda, Union Bank of India etc. have recently removed the condition of minimum balance for the convenience of customers. The country’s largest private bank HDFC Bank made it clear that there has been no change in the condition of average monthly balance (Amb) for any of its account types. The bank said that Amb for regular savings account is still ₹ 10,000 and ₹ 25,000 for Saving Max Account.