HDFC Bank clarified that the minimum balance rule of any of its accounts has not been changed. Know why the bank has given this clarification and what is the rule of minimum balance rule in its branch.
After the Monthly Average Balance (MAB) controversy of ICICI Bank, HDFC Bank clarified that it has not changed the minimum balance rules for any of its types of accounts. According to the bank, “HDFC Bank offers various types of savings accounts according to the profile of the customers. Each account has different AMB requirements and at present this rule has not been changed for any account.”
The bank said that the AMB of a regular savings account is ₹ 10,000 and the AMB of Savings Max Account is ₹ 25,000. Some social media posts were claiming that HDFC Bank has also changed the minimum balance rules. After that the bank has issued this clarification.
ICICI Bank revises MAB
India’s second largest private sector bank ICICI Bank last week increased the MAB for new savings accounts. It was ₹ 50,000 in metro and urban branches, ₹ 25,000 in semi-urban and ₹ 10,000 in rural branches. After strong reactions from customers, the bank changed the rules. Now it has been increased to ₹ 15,000 in metro and urban branches, ₹ 7,500 in semi-urban and ₹ 2,500 in rural branches.
ICICI Bank said in a statement, “We had implemented new MABs for new savings accounts from August 1, 2025. After customer feedback, these have been changed as per their expectations.”
RBI rules on minimum balance
The minimum balance is based on the simple average of the balance at the end of the month. When the account holder does not maintain the prescribed minimum balance, the bank charges a penalty.
The Reserve Bank of India (RBI) has clarified that each bank is free to set its own MAB. RBI Governor Sanjay Malhotra said, “RBI has left it to the bank to decide the minimum balance. Some banks keep it at ₹10,000, some at ₹2,000 and some have given discounts to customers. This does not come under RBI’s regulatory domain.”
