These ICICI Bank savings accounts still have zero minimum balance requirements; see details

ICICI Bank has hiked its minimum average balance (MAB) requirement for new savings accounts to ₹50,000 for its metro and urban branches, ₹25,000 for semi-urban and ₹10,000 for rural branches. However, there are some ICICI Bank accounts that are exempt from this MAB requirement and remain zero‑balance accounts. Let’s look at these accounts in detail. 

Basic Savings Bank Deposit Accounts (BSBDAs)

A Basic Savings Bank Deposit Account can be opened by individuals above the age of 18 who don’t have any savings account with ICICI or any other bank, and don’t have a BSBDA with any other bank. There is no Monthly Average Balance (MAB) requirement for this account, and it's available in both single and joint modes of holding.

Internet banking and mobile banking are also available for this account on request. Free basic banking services (ATM withdrawals, deposits, balance enquiries, etc.) are available for BSBD accountholders, and a RuPay debit card is also offered by the bank, as per RBI guidelines.

If there is an existing account, the customer needs to close it within 30 days of opening a BSBD account. Further, existing BSBD customers can’t open another BSBD Account with ICICI Bank.

For this account, the total value of credits can’t exceed ₹5 lakh during a financial year. For accounts sourced by Business Correspondence, the credits can’t exceed ₹1 lakh in a year.

A BSBDA can be opened with full KYC by providing address proof, identity proof and other details. For those who don’t have valid KYC documents, temporary Small Deposit Accounts (SDA) can be opened until KYC is completed.

• Total credits value can’t exceed ₹1 lakh
• Day-end account balance needs to be under ₹50,000
• Total withdrawals in a month can’t exceed ₹10,000

Further, customers need to submit KYC documents or evidence to have applied for valid documents within 12 months of opening the account. If they fail to do so, the bank may stop crediting customer proceeds to these accounts. Moreover, if customers fail to complete KYC documents within 24 months of account opening, the bank may stop all operations for these accounts. SDAs must be converted to a BSBDA or regular account once the KYC is completed.

Individuals can also open a BSBDA under the Pradhan Mantri Jan Dhan Yojana (PMJDY), which is an initiative by the Government of India aimed at enhancing financial inclusion in the country.

Salary account holders

ICICI Bank offers a salary account for working professionals that has no minimum balance requirement. This account has other benefits like unlimited ICICI Bank ATM transactions, complimentary insurance and waiver of online transactions charges (NEFT/RTGS). To open a salary account at ICICI Bank, you just need employment proof (ID or salary slip), along with your basic details like Aadhaar Card, PAN Card and a passport-size photograph.

ICICI Bank MAB hike

Minimum average balance is the average of day-end balances for a calendar month. For new ICICI Bank savings account holders, the MAB requirement is now ₹50,000 for urban locations, ₹25,000 for semi-urban and ₹10,000 for rural locations.

Previously, these limits were ₹10,000 for urban, ₹5,000 for semi-urban and ₹2,500 for rural branches.

"In metro and urban regions, the minimum average monthly balance (MAMB) now stands at ₹50,000 from the previous ₹10,000. For semi-urban branches, it is ₹25,000 from ₹5,000, and in rural branches, the requirement has doubled to ₹10,000 from ₹5,000," as per ICICI Bank’s website.

This is not for existing customers but for those who opened a savings account on or after August 1, 2025. If the MAB is below the required threshold, the bank charges a penalty of 6% (of the shortfall), or ₹500, whichever is lower.

Apart from the changes in MAB for savings accounts, ICICI Bank also introduced other changes in its services, including a ₹150 charge per cash deposit after the free limit of three free deposits per month at either bank branches or cash recycler machines. The bank has also put a monthly cap of ₹1 lakh on free cash deposits, after which the customers will be charged ₹3.50 per ₹1,000 deposited or ₹150, whichever is higher.