ICICI Bank’s recent decision to sharply increase the minimum average balance (MAB) requirement for its savings accounts has triggered widespread backlash online. As per the official announcement, the new rules affect customers across metro, urban, semi-urban, and rural branches. Starting August 1, 2025, new customers in metro and urban areas must maintain a monthly average balance of ₹50,000, up significantly from ₹10,000. In semi-urban regions, the new requirement is ₹25,000, up from ₹5,000, while rural customers must maintain ₹10,000, compared to the earlier ₹5,000.
These revised MAB norms apply only to new savings accounts opened after the effective date. Failure to meet the MAB will lead to a penalty—6% of the shortfall or ₹500, whichever is lower. The update has drawn heavy criticism from users on social media, with many accusing the bank of favoring wealthier customers and calling the move discriminatory. Some users urged the Reserve Bank of India (RBI) to intervene, citing concerns about financial exclusion. Many expressed anger over the potential loss of interest income and described the policy as unfair, elitist, and a step backward for accessible banking. ICICI Bank is yet to respond.
