ICICI Bank on Wednesday announced a revision in its minimum account balance (MAB) requirements across metro, urban, semi-urban, and rural branches, days after facing customer backlash over a steep hike.
The lender has reduced the MAB for metro and urban locations to ₹15,000 from ₹50,000, for semi-urban branches to ₹7,500 from ₹25,000, and for rural branches to ₹2,500 from ₹10,000.
The revised norms do not apply to salary accounts, which continue to operate under separate terms. Customers failing to maintain the required MAB will be charged a penalty of 6% of the shortfall amount or ₹500, whichever is lower. The move aims to ease concerns raised by account holders and make the bank’s savings account terms more accessible across regions.
