Brief by Shorts91 NewsDesk / 06:49pm on 09 Aug 2025,Saturday India
ICICI Bank has raised the minimum average monthly balance (MAMB) requirement for new savings accounts opened on or after August 1, 2025. In metro and urban branches, the MAMB is now ₹50,000, up from ₹10,000; in semi-urban branches, ₹25,000 (previously ₹5,000); and in rural branches, ₹10,000 (up from ₹5,000). Customers failing to maintain the balance will face a penalty of 6% of the shortfall or ₹500, whichever is lower. The move aims to attract premium customers. Additionally, ICICI revised service charges for cash transactions, ATM usage, and third-party deposits. The bank’s decision contrasts with others like SBI, which have scrapped minimum balance penalties to ease customer burden. (PC: Mint)
