ICICI Bank Minimum Balance Requirement Hiked?

Some customers of ICICI Bank are reporting that they are now increasing the minimum balance limit from Rs. 5000 to Rs. 10000.

This is sad news for all those customers who are not on any of their zero balance accounts.

This new limit is going to be applied starting July this year.

If the bank account holder fails to maintain this minimum balance during a quarter, he has to pay a charge of Rs. 750 (excluding service tax!).

The bank is now giving their customers 2 months to decide on whether they want to continue banking with them or accept this new requirement. They would not charge any account closure fees during this period.

We at TechWhack are pretty disappointed with this new development. This level of minimum balance requirements are closing in on international banks…