Starting August 1, 2025, ICICI Bank is raising minimum balance requirements for new savings accounts. Urban customers will need Rs 50,000, semi-urban Rs 25,000, and rural Rs 10,000.
From August 1, 2025, if you want to open a savings account with ICICI Bank in a metro or big city, you’ll need to keep Rs 50,000 in it every month — just to avoid penalties. For semi-urban customers, the bar has jumped from Rs 5,000 to Rs 25,000. Rural customers will now need to keep at least Rs 10,000 instead of Rs 2,500
And here’s the small print, these rules only apply to new accounts. If you already have an account, your balance requirement stays the same, for now.
Social Media Meltdown
The announcement set off a storm online. YouTuber Anuj Prajapati called it the “worst decision” the bank has made. One X user vented:
“Even with a Rs 1 lakh monthly salary, most people won’t have Rs 50k sitting in their account because of EMIs, bills, and loans. Every sector is just squeezing the middle class.”
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“ICICI Bank just made savings accounts a luxury item,” another summed it up bluntly.
Politicians Weigh In
Congress spokesperson Shama Mohamed joined the criticism, calling it “another blow to the middle class”. She warned that customers who can’t keep this “huge amount” will now face penalties.
‘Why Keep Rs 50k in a 3% Account?’
Many people questioned why anyone with Rs 50,000 to spare would leave it in a savings account that barely earns 3% interest.
“In 2025, urban youth don’t want their money to rot in accounts. They want to invest, grow, and build wealth — not just keep banks rich,” wrote one user.
“A minimum balance of Rs 50,000 in a country where 90% of Indians earn less than Rs 27,000 a month… For the rich, by the rich, of the rich,” one comment that struck a chord said.
Some Defend the Move
Not everyone was angry. A few users pointed out that ICICI is a private bank and can set its own rules. They also noted that the hike doesn’t affect existing customers, so the change might not be as far-reaching as it seems.