ICICI Bank doubles balance for SB account

ICICI Bank has doubled the minimum quarterly average balance to be maintained in a savings account to Rs 10,000 from Rs 5,000 now.

The bank has sent a notice to its customers informing them about the same. The change is effective from July 1.

"According to the existing terms governing your savings account, non-maintenance of quarterly average balance in any quarter attracts a charge of Rs 750 (plus service tax as applicable, currently 12.36 per cent) or such other charges as may be made applicable from time to time," the notice said. The bank had 1,350 branches and 3,850 ATMs as on March 31,2008.