ICICI Bank Wants Rs 5 Lakh to Open a Savings Account - Savings Account Become a Luxury

[ak_gupta98911]

I have recently opened a Wealth account with the bank just 2 days ago, with a 2L Initial funding commitment, once my account was up & running at zero balance, i just transfered 2L. Was pretty seamless the entire process, no negotiation etc. I had casually mentioned on the first call when asked abt initial funding that i can load 2L immediately RM said ok. My experience has been pretty straightforward. She just said balance cant go below 15k.

But icici Lakhisarai branch ye sab nahi kar raha h na minimum monthly 1L and initial funding 5L mang raha h na.
Maine bola 15k minimum monthly balance and initial 50k denga but o nahi open kiya.
Aur 6 months ka bank statement bhi mang raha h aur ITR minimum 6L ka icici branch bala.

 

[cardio_guycardio_guy is verified member.]

Good to know that my experience with ICICI have been not different from the vast majority here.

 

[iamdhamo]

Move to hdfc, idfc etc. Way better than icici in every aspect.

I already have acc in idfc HDFC and in psu I have in SBI. Just wanted to highlight the indirect cost with psus

 

[✪ D&C Cards Connoisseur 💳]

As someone mentioned earlier in one of the threads, I too feel like sending all economically low persons near me to ICICI for opening BSBD. And what I personally feel like, everyone should raise complaint direct with PNO over email (no Customer Care mail needed) and based on that response should lodge complaint with RBIO after 30 days selecting the option as bank denied to open BSBDA. So, as fellow TFCians, we have to take the responsibility of making others familiar with the RBIO process.

 

[sanarora]

itr for opening bank account..?? that makes no sense..! its a case of a Hostile RM. just visit another branch / & another RM i guess

But icici Lakhisarai branch ye sab nahi kar raha h na minimum monthly 1L and initial funding 5L mang raha h na.
Maine bola 15k minimum monthly balance and initial 50k denga but o nahi open kiya.
Aur 6 months ka bank statement bhi mang raha h aur ITR minimum 6L ka icici branch bala.

 

[ak_gupta98911]

itr for opening bank account..?? that makes no sense..! its a case of a Hostile RM. just visit another branch / & another RM i guess

Recent 2 branch visit IFSC Code:- ICIC0008293, ICICI BANK LTD, SIKANDRA
And IFSC Code:- ICIC0001327, ICICI BANK LTD, LAKHISARAI NAYA BAZAR, BIHAR
Dono branch mai ek Lakhisarai branch ka after complaint raised home visit BM pelhe bola 6 months ka statement dikho to 6 months ka statement dikha diye usme average monthly balance 75k tha BM bola 75k average monthly balance sa nahi chalega tumara profile low h nahi to ITR dikho minimum 6L ka tab account open hoga. Maina bola 15k monthly average balance bala open kar do to BM sir bole nahi open hoga tumara profile low h atitude mai bola.
Phir maine icici bank ka ye post dikhya tab BM sir bole mai ye sab nahi janta tumara account open nahi hoga jao kar kar loge .
Aur jao kaha complaint kargo mera pass hi aata h hmm kucch likh kar bhaj denga.

 

[Dr.AMAN]

Recent 2 branch visit IFSC Code:- ICIC0008293, ICICI BANK LTD, SIKANDRA
And IFSC Code:- ICIC0001327, ICICI BANK LTD, LAKHISARAI NAYA BAZAR, BIHAR
Dono branch mai ek Lakhisarai branch ka after complaint raised home visit BM pelhe bola 6 months ka statement dikho to 6 months ka statement dikha diye usme average monthly balance 75k tha BM bola 75k average monthly balance sa nahi chalega tumara profile low h nahi to ITR dikho minimum 6L ka tab account open hoga. Maina bola 15k monthly average balance bala open kar do to BM sir bole nahi open hoga tumara profile low h atitude mai bola.
Phir maine icici bank ka ye post dikhya tab BM sir bole mai ye sab nahi janta tumara account open nahi hoga jao kar kar loge .
Aur jao kaha complaint kargo mera pass hi aata h hmm kucch likh kar bhaj denga.

These idiots havent learnt anything from their recent public humiliation. Dont let this guy get away easily. Escalate to their twitter account and till RBIO if needed. If they r doing so much drama for opening a mere 15k mab savings account imagine the amount of mental torture a person might have to face if he goes and asks for a loan/credit card.

 

[Rajx99]

Recent 2 branch visit IFSC Code:- ICIC0008293, ICICI BANK LTD, SIKANDRA
And IFSC Code:- ICIC0001327, ICICI BANK LTD, LAKHISARAI NAYA BAZAR, BIHAR
Dono branch mai ek Lakhisarai branch ka after complaint raised home visit BM pelhe bola 6 months ka statement dikho to 6 months ka statement dikha diye usme average monthly balance 75k tha BM bola 75k average monthly balance sa nahi chalega tumara profile low h nahi to ITR dikho minimum 6L ka tab account open hoga. Maina bola 15k monthly average balance bala open kar do to BM sir bole nahi open hoga tumara profile low h atitude mai bola.
Phir maine icici bank ka ye post dikhya tab BM sir bole mai ye sab nahi janta tumara account open nahi hoga jao kar kar loge .
Aur jao kaha complaint kargo mera pass hi aata h hmm kucch likh kar bhaj denga.

Since u have already complained to Customer care
Next complaint at all three levels here:

ICICI - Contact Us

After this then complaint to PNO
(You can also skip these and mail directly to PNO) but if u have more evidence, then lateron it's easier to get compensation from RBIO

 

[The_One]

I had same experience when I was trying to
Open an account for my spouse but they requested me an FD of 1 lakh. Since this 50k & then 15k MAB was announced, i called customer care and they asked my PIN code then I got a call from nearest bank to open an account rest was easy. I suggest to try opening account in a branch which is in a corporate park. Hope this helps.

 

[Strange]

Recent 2 branch visit IFSC Code:- ICIC0008293, ICICI BANK LTD, SIKANDRA
And IFSC Code:- ICIC0001327, ICICI BANK LTD, LAKHISARAI NAYA BAZAR, BIHAR
Dono branch mai ek Lakhisarai branch ka after complaint raised home visit BM pelhe bola 6 months ka statement dikho to 6 months ka statement dikha diye usme average monthly balance 75k tha BM bola 75k average monthly balance sa nahi chalega tumara profile low h nahi to ITR dikho minimum 6L ka tab account open hoga. Maina bola 15k monthly average balance bala open kar do to BM sir bole nahi open hoga tumara profile low h atitude mai bola.
Phir maine icici bank ka ye post dikhya tab BM sir bole mai ye sab nahi janta tumara account open nahi hoga jao kar kar loge .
Aur jao kaha complaint kargo mera pass hi aata h hmm kucch likh kar bhaj denga.

Sare proofs ke sath MD ko email karo.
managingdirector@icicibank.com

Sare Rude and arrogant Employees ka naam likhna mat bhulna.

 

[iamdhamo]

When I had to went to open an account in 2022 with icici they said I need to opt any of the products - demat or life insurance or ulip.

I said I won't do then they said they can't open account and that time minimum balance was 10k. I even asked about zero balance balance and they said it's not avlb those days. Too much arrogance and money minded bank. They only want premium customers

Then I walked out n opened at IDFC. This was for my relative

 

[sovon]

Me and my brother tried opening HDFC regular savings account (₹10k MAB) online, but every time we attempted, it showed an error.

So we visited our nearest branch. There, they told us that they don’t open regular savings accounts (₹10k MAB) at the branch level those can only be opened online. Instead, they suggested opening a Savings Max account, but for that they required a ₹2 lakh deposit (₹1L each for me and my brother) by cheque.

At that time, HDFC had just increased the MAB requirement for metro cities, so I didn’t argue with them further.

I then mailed HDFC support to fix the online account opening error. However, they simply forwarded my complaint back to the same branch. Eventually, the branch manager agreed to open a ₹10k MAB account for both of us, but with the condition that we deposit ₹50k each (₹1L total).

I told them we don’t have cheque books, so they allowed us to do an online transfer instead. After transferring, they opened my account and handed me the Insta Kit instantly.

What I couldn’t understand is why there was so much pressure to deposit ₹1L before account activation. The money wasn’t credited to any dummy or temporary account it was deposited directly into my new account. If the funds are ultimately going into the same account, why insist on the deposit being made before activation rather than after?

 

[sovon]

If you can’t bring a big-ticket cheque, you’re treated as a “low-profile” customer — and they don’t want you.

HDFC is also the same.

When I enquired about opening a Savings Max account, they were ready to open it instantly no home visit, no address verification required.

But since I chose to open a regular savings account, they personally came to my address for verification. Probably because me and my brother still look like students, they kept questioning us. Every time they called about the account opening issue, they would ask things like:

“What does your father do?”

“What will you do with this account?”

But the account opening was process was fast, within 24 hours my account was ready to use, insta kit with debit card, cheque book and passbook was delivered instantly.
So I'm okay with that.

 

[ankitvm]

Recent 2 branch visit IFSC Code:- ICIC0008293, ICICI BANK LTD, SIKANDRA
And IFSC Code:- ICIC0001327, ICICI BANK LTD, LAKHISARAI NAYA BAZAR, BIHAR
Dono branch mai ek Lakhisarai branch ka after complaint raised home visit BM pelhe bola 6 months ka statement dikho to 6 months ka statement dikha diye usme average monthly balance 75k tha BM bola 75k average monthly balance sa nahi chalega tumara profile low h nahi to ITR dikho minimum 6L ka tab account open hoga. Maina bola 15k monthly average balance bala open kar do to BM sir bole nahi open hoga tumara profile low h atitude mai bola.
Phir maine icici bank ka ye post dikhya tab BM sir bole mai ye sab nahi janta tumara account open nahi hoga jao kar kar loge .
Aur jao kaha complaint kargo mera pass hi aata h hmm kucch likh kar bhaj denga.

Update dete rehna bro🙃

 

[ashwinikumar900]

If you remember, just a few days ago ICICI Bank hiked their minimum balance requirements to an absurd level — for a normal savings account they expected customers to maintain ₹50,000 average balance. After public outrage, they rolled it back, but still kept it higher than before. That was at least an official step.

But what’s happening at branch level is even worse. ICICI Bank is flat out refusing accounts for people with low income or those who can’t bring in a heavy initial deposit cheque. As per multiple reports on TF Community, branches often demand a ₹5 lakh cheque as initial deposit, and only after negotiation they sometimes come down to ₹1 lakh. If you want to open an account with less than ₹1 lakh, chances are they’ll simply deny you.

Forget about BSBD (zero-balance) accounts — many branches won’t even entertain customers asking for them.

One of our members recently tried opening an account with ICICI. He was denied. When he shared his experience on Twitter and here on Technofino, the branch manager himself showed up only to say: “You need to maintain ₹1 lakh average balance and bring ₹5 lakh as initial deposit. If you don’t have that financial capability, we can’t open your account.” That’s how blunt it was. Here’s a copy of his complaint email:

View attachment 109921

And this is not an isolated case. We’ve seen many such complaints, both on TF Community and across social media. Honestly, ICICI’s management comes across as arrogant, and their branch-level staff are no different. The bigger question is — why isn’t the RBI regulating initial deposit and minimum balance rules? ICICI has no set standard, it’s literally their bank, their rules. If you can’t bring a big-ticket cheque, you’re treated as a “low-profile” customer — and they don’t want you.

If the RBI doesn’t step in, other private banks may follow this same path. This is clearly against customer interest. While most PSU banks are moving towards zero-balance accounts, ICICI (thankfully only ICICI for now) is going the opposite way, making banking exclusionary.

Hopefully, people will take notice of this trend and shift towards PSU banks and customer-friendly private banks — the ones that value customers instead of acting arrogant.

Just on Friday, I opened a savings account in ICICI with no issues at all. That too without any initial check, the account was opened and then money was transferred via UPI, with a 15K MAB balance.

 

[RAHUL GOYAL]

Last month, I went to ICICI to upgrade my account. Right now, I have a regular savings account, and they told me I would need to keep a deposit of ₹10 lakhs. I asked about the Monthly Average Balance (MAB), and they said it’s ₹10 lakhs, and if I don’t maintain it, charges will apply.
On the other hand, I also visited HDFC to upgrade my account to a privilege account. There, they only asked for a ₹2 lakh deposit, and the MAB is zero. But the Relationship Manager told me that if I don’t maintain it, the account will simply be downgraded, and no money will be deducted.
Now i have regular icici account & a privilege hdfc account.

 

[panu24]

Last month, I went to ICICI to upgrade my account. Right now, I have a regular savings account, and they told me I would need to keep a deposit of ₹10 lakhs. I asked about the Monthly Average Balance (MAB), and they said it’s ₹10 lakhs, and if I don’t maintain it, charges will apply.
On the other hand, I also visited HDFC to upgrade my account to a privilege account. There, they only asked for a ₹2 lakh deposit, and the MAB is zero. But the Relationship Manager told me that if I don’t maintain it, the account will simply be downgraded, and no money will be deducted.
Now i have regular icici account & a privilege hdfc account.

I think you are confusing Preferred with Privilege for HDFC. Its banking program not account variant.