In a reversal of its recent decision, ICICI Bank has reduced the minimum monthly average balance (MAB) for savings accounts to Rs 15,000, down from the earlier steep hike to Rs 50,000, citing “valuable feedback” from customers.
The bank had raised the minimum balance for new savings accounts opened on or after August 1 to Rs 50,000 — a fivefold increase.
“Based on valuable feedback from our customers, we have revised these requirements to better align with their expectations and preferences. We thank our customers for their continued trust and feedback, which help us serve them better,” the lender stated on its website.