The second largest Indian creditor of the private sector, ICICI banks, increased its requirement for minimal balance for all new savings bank accounts with an effectiveness of 1 August 2025.
Since its announcement, the decision of the institutional creditor has increased the threshold value of the minimum balance between banking customers mixed emotions. People took over their concerns about the X -Social Media Platform with an overall opinion on how angry they are.
Also read | How much balance do you have to keep on savings accounts? Bank list
What do Netizens & Influences say?
The user and influencer of the social media, Anu Prajapati, said that this is the “worst decision” that Icici’s banks have ever accepted and emphasized how urban youth is now looking for their funds to let them sit in a bank account.
“The worst decision of Icici Bank,” said Prajapati. “Why Hell people put their money in accounts. Urban Youth wants to invest the money so that they do not sit dead on bank accounts (sic),” he said in the post.
Founder Hercules Advisors and self -confident investment advisor Aditya Shah, again shared the Jay Kotak’s post on the X platform and emphasized how ‘90% of the Indians earn less than £25 000 ‘and questioned how these people would maintain such a high minimum balance.
Also read | Can banks decide to require a minimum balance for savings accounts?
“90% of Indians earn less than £25 000. How will they maintain a minimum balance? The basic savings account at a certain level of the basic banking service should be completely free! “Shah said with a focus on how creditors can charge MAB for other services.
“AND £50,000 minimum balance means an amount equal to 94% of Indian monthly income that must be left all the time, otherwise a fee! “Jay Kotak said in his post.
Some Netizens even tried to deactivate their deposit deposit at ICICI banks after a minimum increase in balance.
“Better to close the ICICI bank account and move to other banks with attractive benefits,” a social media user named Deepak Parvat in his post on X.
Also read | ICICI BANK increases the minimum balance to 50,000 GBP on the savings account
“Banks talk about their costs. Customers take care of the results. They want their money quickly, want clarity and want a fair return. Your operating costs are not their problem. Banks must match what is already available on the market.
With some contradictory views, Sebi-Regisred Investment Advisor Odvisor, the Canodia said that the reality of this minimum balance is that “no one is” because the state bank and other PSU banks have the possibility of zero balance for customers.
“This is called premium,” he said in his post.
How many banks have increased the minimum balance?
ICICI Bank announced its decision to increase the minimum balance requirement (MBR) £50 000 per month for new customers opens up savings accounts with institution, effective 1 August 2025.
Details of notification show that every customer opening a bank account in the Bank Bank Bank and the location of urban branches after 1 August 2025 will need to maintain minimum account balance (MAB) £50,000 per month to avoid punishment for going under threshold. Mint previously reported that the requirement for minimum balance has been increased from £10,000 each month.
Also read | How is MAB calculated? What could your punishment be unless you keep MAB?
Customers of the ICICI bank who will open their savings bank account at a semi -limiting branch after a specified date will be maintained by minimal balance £25 000 and £10,000 in a rural branch of a private institutional creditor compared to their earlier £5,000 MAB levels.
According to the data collected from the official website, if customers are unable to maintain the minimum level of equilibrium listed on their savings bank accounts, the bank charges them 6% of £500, depending on what is lower.
“In the case of family banking, the customer must jointly maintain 1.5 times the program capacity criteria. If the thresholds for family banking are not met, maintenance fees will apply to family members who do not maintain individual MAB,” Icici Bank said in updating services.
Read all the news of the banking industry here
Renunciation of responsibility: This article intends to only educate and spread awareness of bank accounts and minimum balance requirements. MINT does not support or supports investments without seeking expert advice from certified experts.
(Tagstotranslate) request minimum balance