ICICI & HDFC Bank Savings Account Rules: What You Need to Know About Minimum Balance Changes

Big news is circulating regarding minimum balance requirements for savings accounts at two of India’s leading banks: ICICI Bank and HDFC Bank. Following recent announcements and clarifications, customers, especially those considering opening new accounts, need to be aware of the updated conditions. This article breaks down the changes based on recent reports and official statements.

ICICI Bank Revises Savings Account Minimum Balance

Previously, ICICI Bank had announced a significant change for savings accounts opened after August 1, 2025. The initial proposal mandated a minimum balance of ₹50,000 for customers residing in metro or urban cities. This announcement led to considerable public disapproval and widespread objections on social media platforms.

Responding to public feedback, ICICI Bank has now revised its conditions, offering relief to its customers. The mandatory monthly balance requirement, initially set at ₹50,000, has been reduced. For new savings accounts opened in metro or urban areas after August 1, 2025, customers will now need to maintain a minimum balance of ₹15,000. While this is an increase from the previous ₹10,000, it is significantly lower than the initially proposed ₹50,000.

Furthermore, ICICI Bank has also updated the requirements for other regions:

• Semi-Urban Locations: Customers will need to maintain ₹7,500.
• Rural Areas: The minimum balance requirement will be ₹5,000.

This revision brings considerable relief to customers planning to open a savings account with ICICI Bank after the specified date.

HDFC Bank Clarifies Savings Account Minimum Balance Reports

HDFC Bank also faced a period of confusion following media reports suggesting a new requirement of ₹25,000 as the minimum balance for savings accounts in metro or urban cities. However, HDFC Bank has since issued a press release to clarify the situation.

The bank explicitly stated that it has not introduced any new rule mandating a ₹25,000 minimum balance for regular savings accounts effective August 1, 2025. HDFC Bank confirmed that the conditions for its existing savings accounts remain unchanged.

However, HDFC Bank’s clarification did highlight a shift in its approach for metro cities and urban areas. The bank has indicated that it will now prioritize the opening of “Savings Max Account” in these regions. While a regular savings account traditionally requires a ₹10,000 minimum balance, the Savings Max Account requires a higher minimum balance of ₹25,000. This implies that if you open a new savings account in a metro city, you will likely be offered the Savings Max Account, effectively leading to a ₹25,000 minimum balance requirement. Therefore, the practical outcome for new customers in metro cities remains that they will likely need to maintain ₹25,000.

Important Note for Existing Customers

It is crucial to understand that these updated rules and clarifications primarily apply to new savings accounts opened on or after August 1, 2025. Existing HDFC Bank and ICICI Bank customers, who opened their savings accounts before this date, will not be affected by these changes. Their accounts will continue to operate under the terms and conditions that were applicable at the time their accounts were opened, meaning they will maintain the balance as per their original agreement.

Both banks’ efforts to provide clarity on these significant changes aim to reduce customer confusion and ensure transparency regarding their savings account policies.