ICICI banks sharply increased its minimum average monthly balance for new savings accounts from 1 August 2025, which triggered mixed reactions among customers.
Revised rules mean that metro and urban account holders must now maintain monthly average balance £50 000, compared to earlier £10 000. For new radius customers, the minimum balance increases £25,000 (previously £5,000), and for rural accounts rises to £10,000 (from £5,000).
The new criteria only apply to the open 1 August accounts, so existing customers leave previous limits. Those who cannot meet these requirements will face a sentence of 6% of the shortage or £500-which is lower.
This step is the ICICI bank among the most expensive private banks for regular savings accounts, especially because many leading public banks have excluded sanctions with a minimum balance to increase financial integration. Compared to HDFC and Bank Axis continue with minimal balance £10,000 for urban customers.
Many of them criticized the hike as discriminatory, and social media users called it an elitar and urged RBI to intervene. Critics claim that such requirements can create obstacles for customers with medium income and lower income, especially when the new minimum for urban accounts exceeds the average monthly salary in India. Some users threaten to close their accounts for the benefit of banks with less strict policies and blame the bank of preferring rich customers.
The user wrote: “In a country where 23 people live below the poverty line, Icici thinks £50,000 is a “minimum”. MASTROKE! ”
“It is the largest bank of the private sector in India. I think its bad times have started now. It is a kind of cheating with customers. On the one hand, government banks eliminate minimal balance, while the private sector increases it. This is called a disadvantage of privatization.
However, the user prevented this step: “Why does this resistance against the ICICI increase the minimum savings account balance? Can they choose their customer segment and look for fees revenues. I am sure that there has been an average analysis to ensure that they do not lose customers.
(Tagstotranslate) ICICI Bank
