The concept of stability has proved very useful in the field of Banach space geometry. In this note, we introduce and study a corresponding concept in the setting of Banach algebras, which we call multiplicative stability. As we shall prove, various interesting examples of Banach algebras are multiplicatively unstable, and hence unstable in the model-theoretic sense. The examples include Fourier algebras over noncompact amenable groups,
$C^*$-algebras and the measure algebra of an infinite compact group.