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ICICI Bank Lowers Minimum Balance Requirement from ₹50,000 to ₹15,000

On August 13, 2025, ICICI Bank changed its minimum balance rules for savings accounts. Previously for metro and big cities it was ₹50,000 but now is 15,000. For Semi-Urban it was 25,000 but now is reduced to ₹7,500 and for rural areas it was ₹10,000 which is now reduced  to ₹2,500.

This change came after many people complained about a sudden and big increase in the minimum balance requirement last week. The bank responded by updating the rules to make them easier for customers.

The hike in monthly average balance (MAB) requirements for new savings account holders led to major public backlash, especially on social media.

  • Anuj Prajapati (Influencer) called it “The Worst Decision of ICICI Bank”, saying urban youth prefer to invest rather than keep idle funds in bank accounts.

  • Many users said they would consider closing their ICICI accounts and switch to banks offering better benefits.

  • Jay Kotak (son of Uday Kotak, founder of Kotak Mahindra Bank) indirectly criticized the policy, pointing out that: “90% of India earns less than ₹25,000/month, and a ₹50,000 minimum balance means the bank expects almost an entire month’s income to just sit in an account — or face a penalty.”

ICICI Bank increased the minimum balance suddenly and people got angry so bank reversed the decision slightly and lowered the requirements. Critics argue that high minimum balance policies are unfair and exclusionary, especially in a country where most people don’t have that kind of disposable income.

Also Read: ICICI Bank Hikes Minimum Balance to ₹50,000 for New Customers; Existing Customers Unaffected

Public Outrage Over ICICI Bank’s Increased Minimum Balance Requirement

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