Archive · 29 Jul 2026
Banks Collected ₹26,170 Crore in Minimum Balance Penalties
Banks in India have collected a lot of money from customers who didn't keep enough money in their savings accounts.
Over four years, from FY23 to FY26, they collected over ₹26,170 crore.
In the latest year, FY26, they collected ₹7,086.63 crore.
Private banks collected more than public banks.
HDFC Bank collected the most among private banks, and State Bank of India collected the most among public banks.
However, public banks have been reducing these charges, and some accounts, like those under the Pradhan Mantri Jan Dhan Yojana, don't have to maintain a minimum balance and are exempt from these penalties.
Banks collected ₹26,170 crore in penalties for not maintaining minimum balance from FY23 to FY26.
In FY26, banks collected ₹7,086.63 crore, with private banks collecting more than public banks.
HDFC Bank collected the highest amount among private banks at ₹1,798.14 crore in FY26.
State Bank of India collected the highest amount among public banks at ₹477.27 crore in FY26.
Public sector banks have eased these charges, with 10 out of 12 PSBs discontinuing penal charges for non-maintenance of minimum average balance in savings accounts.
- Who
- Banks, including public and private sector lenders
- What
- Collection of penalties for failing to maintain minimum average balance in accounts
- When
- Over the four financial years from FY23 to FY26
- Where
- India
- Why
- To enforce minimum balance requirements in savings accounts
Private Sector Banks
Public Sector Banks
Collection Amounts
Private Sector Banks
Private sector banks collected ₹4,948.71 crore in FY26, more than twice the ₹2,137.92 crore collected by public sector banks.
Public Sector Banks
Public sector banks have significantly eased such charges in recent years, with 10 out of 12 PSBs discontinuing penal charges for non-maintenance of minimum average balance in savings accounts.
- Total Collection (FY23-FY26)
- ₹26,170 crore
- FY26 Collection
- ₹7,086.63 crore
- Top Private Bank (FY26)
- HDFC Bank (₹1,798.14 crore)
- Top Public Bank (FY26)
- State Bank of India (₹477.27 crore)
- Zero-Balance Accounts
- Basic Savings Bank Deposit Accounts (BSBDAs) and PMJDY accounts are exempt from minimum balance penalties
- Number of Exempt Accounts
- 73 crore
