In 2025, savings account policies have diverged sharply among India’s major banks. State Bank of India (SBI) remains user-friendly—completely waiving minimum balance requirements across all savings accounts, upholding its longstanding zero-penalty stance initiated in 2020.
HDFC Bank continues to enforce a tiered structure, requiring average monthly balances of ₹10,000 in urban/metro areas, ₹5,000 in semi-urban, and ₹2,500 in rural branches.
Earlier this month, ICICI Bank attempted a dramatic overhaul—raising its new account minimum average balance (MAB) to ₹50,000 in metro/urban areas, ₹25,000 in semi-urban, and ₹10,000 in rural zones, effective August 1. This sparked widespread social media backlash over financial accessibility.
Responding swiftly, ICICI rolled back the hike—lowering MAB to ₹15,000 (metro/urban), ₹7,500 (semi-urban), ₹2,500 (rural) for new accounts.
Post a comment
Big signal for India's economy: Trade gap narrows sharply in...
Monthly trade gap shrinks as imports decline while exports remain flat, beating economist expectations of...
A 13% jump, $18.5B valuation! Here's what's really driving IPL's...
IPL's business valuation hits $18.5 billion with record viewership and strong franchise revenues driving growth.
BCCI just made over ₹9,000 Cr in FY 24 driven...
BCCI reports 48% revenue jump to ₹9,741 crore in FY24, driven by IPL's ₹5,761 crore...
This AI startup is transforming pet healthcare in India!
Chennai-based MimiBowBow blends AI diagnostics and smart IoT tools to enable pet health scans, feeders,...
