ICICI Bank cuts monthly balance for new savings accounts: New limits and charges explained

Monthly average balance or MAB is the simple average of day-end balances for a calendar month.

"We had introduced new requirements for the Monthly Average Balance (MAB) for new Savings Accounts opened from August 1. 2025. Following valuable feedback from our customers. we have revised these requirements to better reflect their expectations and preferences," the ICICI Bank said in a statement on Wednesday, August 13, 2025.

"We thank our customers for their continued trust and feedback, which help us serve them better," it added.

What were the previous MAB limits?

Earlier, the private sector bank had increased the minimum average balance required for new savings accounts in metro and urban regions to ₹50,000 from ₹10,000.

For semi-urban branches, the bank had increased MAB from ₹5000 to ₹25,000. And for rural branches, it had increased the MAB from ₹5000 to ₹10,000.

The above limits were announced for new savings accounts opened from August 1, 2025.

What are the reduced MAB limits for new savings accounts now?

As per the bank, the revised MAB limits are as below:

• Metro and urban locations: ₹15,000

• Semi-urban locations: ₹7500

• Rural locations: ₹2500

These above MAB limits are for resident Indians below 60 years across cities. However, the bank is also offering news savings accounts with Nil MAB requirements to some customers.

What can open new savings accounts with Nil MAB in ICICI Bank?

Pensioners (below 60 years) and students of 1200 select institutes can open new savings accounts with Nil MAB requirement.

The revised MAB limits will apply to the following:

• Savings Account, Account for Pensioners (below 60 Years) and Minors

• Programme: Select Banking, Wealth Management and Private Banking

• Savings Account integrated with Demat and Trading Account 13-in-1 Account)

New services charges of ICICI Bank from August 1, 2025

Financial transaction at the bank includes cash withdrawal. Non-Financial transactions include balance inquiry, mini statement and PIN change.

At 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad): First 3 transactions are free (inclusive of financial and non-financial transactions). Post that, ₹23 per financial transaction and ₹8.5 per non-financial transaction are applicable.

Other than 6 metro locations, first five transactions are free (inclusive of financial and non-financial transactions). Post that, ₹23 per financial transaction and ₹8.5 per non-financial transaction.