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what is smab charges in icici bank means

What is SMAB Charges in ICICI Bank Means?

Some readers were asking the question to me like is there any way to recover lost money to Account in ICICI bank due to SMAB charges. The post is explaining the policy behind ICICI bank charges.
Some people are losing money like this: In 2012

MABChgs-May12+ServTax 30.9 – 280.90
MABChgs-Jul12+STax 30.9 – 280.90
MABChgs-Aug12+STax 43.26 – 393.26

So i searched in the service charges page of ICICI bank and from there i explored the savings bank charges of the bank. I got this charge in the website.

Minimum monthly average balance (MAB)

Metro and Urban locations – Rs.10,000,
Semi-urban locations – Rs.5,000,
Rural locations – Rs.2,000

So if the user do not have enough minimum balance in the account, ICICI bank will withdraw money from the account.

Usually the withdrawal account is in between 200 and 400 rupees. This is a policy for ICICI bank and they are making money out of this. Metro / Urban locations – MAB between Rs. 5,000 to Rs. 10,000 – Rs. 250 per month. MAB – Less than Rs. 5,000 – Rs. 350 per month.

Semi Urban locations – MAB between Rs. 2,500 to Rs. 5,000 – Rs. 250 per month.
MAB – Less than Rs. 2,500 – Rs. 350 per month.

Rural locations – MAB between – Rs. 1,000 to Rs. 2,000 – Rs. 250 per month.
MAB – Less than Rs. 1,000 – Rs. 350 per month.

You can see the MAB charges by ICICI above.

The list ends with a note like this:

Service tax @ 12.36 % (as per Govt rules) April 1st, 2012 is applicable over and above charges indicated above. The charges indicated above are subject to periodic revision.

So I was sending the same answer to everybody. No, there is no option to recover lost money, because it is policy of ICICI bank. But if anybody got their money back, they can share the processes of recovering money to Savings Account in ICICI bank due to SMAB charges.

You can contact ICICI customer care by visiting the customer care page and selecting a number based on your location or You can contact for resolving your queries.

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