ICICI Bank has sharply increased the minimum average balance requirement for its savings accounts, in some cases up to four times the current threshold.
For accounts in metro and urban areas, the requirement has jumped from ₹10,000 to ₹50,000. In semi-urban areas, it rises from ₹5,000 to ₹25,000, while rural account holders will now need to maintain ₹10,000, up from ₹2,500.
The revised rules apply only to new savings accounts opened on or after August 1, 2025. Existing account holders will not be impacted immediately.
The decision has sparked criticism from customers, many calling the hike excessive and likely to discourage new account openings, particularly in smaller towns and villages. Consumer rights groups have also expressed concern that the steep increase could limit access to formal banking for lower-income individuals.
ICICI has not yet issued a detailed statement explaining the rationale behind the hike.
