Not Just Minimum Balance… ICICI Bank Hikes ATM Charges; Branch Transactions to Cost More Too
ICICI Bank has announced significant changes for its savings account customers, effective from August 1, 2025. The revisions include increased ATM usage charges, updated cash deposit and withdrawal limits, and a sharp hike in the minimum balance requirement. Customers are advised to understand these changes to avoid additional fees.
Cash Deposit & Withdrawal Charges
The bank will now allow three free cash transactions per month. Beyond this limit, each transaction will attract a ₹150 fee. Customers can deposit or withdraw up to ₹1 lakh per month free of cost; exceeding this limit will result in a charge of ₹3.5 per ₹1,000 or ₹150 whichever is higher.
If both the free transaction limit and the value limit are crossed in a single transaction, the higher of the applicable charges will be applied. Additionally, third-party cash withdrawals are capped at ₹25,000 per transaction across all savings accounts.
ATM Usage Charges
For non-ICICI Bank ATMs in metro cities Mumbai, Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad customers will get three free transactions per month (including both financial and non-financial). Post this limit, ₹23 per financial transaction and ₹8.5 per non-financial transaction will be charged.
In non-metro locations, five free transactions per month will be allowed before the same charges apply.
For international ATM withdrawals, charges will be ₹125 per withdrawal plus 3.5% currency conversion fee. Non-financial transactions at international ATMs will cost ₹25 each.
At ICICI Bank ATMs, customers will get five free financial transactions per month, after which each will cost ₹23. Non-financial services like balance inquiry, mini statement, and PIN change will remain free.
Cash Deposit During Non-Working Hours
Depositing cash between 4:30 PM and 9 AM or on bank holidays will incur an additional ₹50 per transaction for amounts above ₹10,000. This charge is separate from regular cash transaction fees.
Other ICICI Bank Charges
- Demand Drafts (DD): ₹2 per ₹1,000 (minimum ₹50, maximum ₹15,000).
- Annual Debit Card Fee: ₹300 (₹150 for rural areas).
- Replacement Card Fee: ₹300.
- SMS Alerts: ₹0.15 per SMS (up to ₹100 per quarter).
- RTGS (via branch): ₹20 for amounts between ₹2 lakh and ₹5 lakh; ₹45 for amounts above ₹5 lakh.
- Branch Transactions:
- Up to ₹10,000: ₹2.25 per transaction
- ₹10,001 to ₹1 lakh: ₹4.75 per transaction
- ₹1 lakh to ₹2 lakh: ₹14.75 per transaction
- ₹2 lakh to ₹10 lakh: ₹24.75 per transaction
- Monthly Account Statement: ₹100 (via branch or phone banking); free via ATM, iMobile, or internet banking.
All the above charges will attract GST.
Minimum Balance Requirement
For new savings accounts opened on or after August 1, 2025, the Minimum Average Monthly Balance (MAB) has been increased fivefold.
- Metro & Urban branches: ₹50,000
- Semi-urban branches: ₹25,000
- Rural branches: ₹10,000
Failure to maintain the required balance will result in penalty charges.