How to Avoid MAB Charges in ICICI Bank?

Avoiding MAB charges in ICICI Bank is important to avoid the penalty charges. Minimum Account Balance is the minimum average balance the account holders must maintain in their savings or current accounts. Here, we will discuss how to avoid MAB charges at ICICI Bank.

What are the ICICI Bank MAB Charges?

Here are the ICICI bank MAB charges:

So the following options allow you to view the minimum monthly average balance that must be maintained in your account as well as the current MAB:

• Mobile Banking: Fixed deposit/ Recurring deposit account > Select the saving account number, Addition choices > then details of the MAB > then press the submit button.
• Online Banking: First login to your account > Tap on the bank accounts > then Accounts option > click on the monthly average balance details.
• Alternative Option: Tap on mobile banking > then statement option > tap on the more options button > then MAB details> click on the submit button.
• Customer support: In addition to this option, you can also call ICICI Bank customer support. 

Tips to Avoid Monthly Average Balance Charges in ICICI Bank

Here are the tips to avoid the MAB charges in ICICI Bank:

• Link your savings account to a fixed deposit: This bank allows the customer to link their savings account to a fixed deposit.  So if your balance requires MAB, the link FD can be used to cover the shortfall.
• Regularly monitor your account balance: To avoid the MAB, you need to monitor your account through Net banking, and the ICICI mobile app, or you can set SMS/email alerts to track your balance and receive notifications.
• Maintain multiple small deposits: Waiting for a large deposit to meet the MAB, consider making several small deposits throughout every month.
• Choose the right types of account: This bank offers a wide range of account types, here are some account types like a salary account or a special purpose saving account, such as basic savings bank deposit accounts, so no minimum balance.
• Use Auto-sweep facility: ICICI offers an auto-sweep facility that allows you to link with a fixed deposit to your savings account, so when it goes above a certain limit, it automatically transfers to a fixed deposit.

Also, Check - How to Increase the RTGS Limit in ICICI Bank.

Conclusion

In conclusion, avoiding MAB charges in ICICI bank is easy if you are aware of the requirements and take proactive steps to maintain your balance, so we hope our provided information in this blog is helpful for you.

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Saniya

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