‘Sheer Loot of Citizens’: ICICI Bank’s ₹50,000 Minimum Balance Rule Triggers Social Media Outrage

‘Sheer loot of citizens’: ICICI Bank’s ₹50,000 minimum balance rule triggers social media outrage

Starting August 1, 2025, ICICI Bank raises minimum balance requirements for new savings accounts, leading to criticism from users. Urban customers must maintain ₹50,000 monthly, causing concerns about accessibility for lower-income individuals amid calls for intervention from the RBI.

ICICI Bank raises minimum balance requirement for savings accounts from Rs 10,000 to Rs 50,000; social media reacts - The Statesman

ICICI Bank has increased the minimum average balance requirements for savings accounts starting August 1, 2025, with higher penalties for non-maintenance. This change may impact many customers, especially in rural and semi-urban areas, while pensioners remain exempt.

ICICI Bank steeply raises minimum monthly average balance requirement for new Savings Bank customers

ICICI Bank raises minimum balance requirements for new customers amidst declining deposit rates and ample liquidity in banking system.

ICICI Bank Minimum Monthly Balanced Raised to INR 50,000 for New Savings Accounts in Metro and Urban Areas

India’s second largest lender ICICI Bank has raised the monthly minimum average balance requirement for all customer segments, effective August 1. Customers at metro and urban locations who opened their savings accounts on or after August 1 have to maintain Rs 50,000 monthly average balance to avoid penalties, according to the latest notification on the bank's website. ICICI Bank Minimum Monthly Balanced Raised to INR 50,000 for New Savings Acco…

ICICI Bank raises minimum balance requirement for savings accounts

ICICI Bank raises minimum balance requirement for new savings accounts to ₹50,000, impacting rural and semi-urban customers.

ICICI bank raises minimum balance bar in savings accounts to Rs 50,000; massive jump from Rs 10,000

Failure to maintain the required balance may attract penalties. Customers who do not maintain the minimum average balance will be levied a penalty at 6 per cent of the shortfall or Rs 500, whichever is lower.