Accounts having a Monthly Average Balance (MAB) requirement - Terms & Conditions
At ICICI Bank, we encourage our customers to do their banking transactions through the digital mode and thus contribute towards the Digital India initiatives. As an illustration, we would like to mention that customers can withdraw cash by using their Debit Card at any Banks ATM* and funds can be transferred through NEFT/RTGS/UPI using Mobile Banking or Internet Banking at zero charges.
Keeping the above aspects in perspective, the Bank will be incorporating the below clause in the terms and conditions applicable to your account with effect from October 16, 2019:
- All cash transactions at ICICI Bank branches or cash deposits done at ICICI Bank Cash Recycler Machines will be charged at Rs 100 (per transaction) for the first two transactions and Rs 125 (per transaction) for any subsequent transaction in case of non-maintenance of applicable minimum Monthly Average Balance (MAB) stipulated in the terms and conditions applicable to your account. This charge will be levied over and above the non–maintenance of MAB charges stipulated in terms and conditions applicable to the account.
Click here for an illustration.
You can check the required MAB and current MAB maintained through the following options:
- Internet Banking: Logged in section – My View > My Relationships > Accounts > Monthly Average Balance details.
- Mobile Banking: Accounts & Deposits > Savings Account No. > More Options > Monthly Average Balance Details > Click on Submit
- Call our Customer Care to know your MAB details.
In case the above terms and conditions are not acceptable to you,
- You have the option to convert the above Savings Account to a Basic Savings Bank Deposit Account * by October 16, 2019 by visiting the nearest branch.
- In case you wish to close the account, you may visit the nearest branch. The revised terms and conditions shall apply till the date of closure of your account.
*You may visit our website www.icicibank.com for more details.
In case you require any further information, please call our Customer Care or visit the nearest ICICI Bank branch.