August 14, 2025

Get ready for some drama from ICICI Bank! They surprised many by hiking the minimum monthly average balance (MAB) demand for new savings accounts starting August 1, 2025. The climb was steep — up to five times higher for metro and urban areas, hitting ₹50,000! Semi-urban folks had to manage ₹25,000, and even rural customers saw a jump to ₹10,000. But this bold move caused an instant storm. The bank faced serious backlash from angry customers and heated discussions flared on social media. Many felt this change was only for the rich, hurting the spirit of financial inclusion. Even the bank’s own employees, especially relationship managers who deal directly with customers, got negative reactions. Seeing the uproar, ICICI Bank quickly stepped back. In a clear statement, they said, "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. We thank our customers for their continued trust and feedback, which help us serve them better." Importantly, the hike never applied to salary accounts, senior citizens, pensioners, basic savings bank deposit accounts (BSBDA)/Pradhan Mantri Jan Dhan (PMJD) accounts, or accounts for people with special needs. The bank's quick response shows it listens carefully to public sentiment and cares about financial inclusion. For now, new customers need not fret over giant MAB demands. ICICI Bank’s balance measures are back on track to support all kinds of customers, from metro elites to everyday savers. Stay tuned as this saga shows even big banks must dance to the tune of their customers!

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Tags: Icici bank, Minimum average balance, Mab hike, Savings account, Financial inclusion, Customer backlash,