Banks collected Rs 7,087 crore in FY26 from account holders as charges for failing to maintain minimum average balance in their savings and current accounts.

Private sector banks collected more than double the amount that their public sector peers garnered. 

According to Minister of State for Finance Pankaj Chaudhary, private sector banks collected Rs 4,948.71 crore in FY26 from customers for failing to maintain minimum balance in their accounts, Parliament was informed on Tuesday.

Public sector banks (PSBs), on the other hand, collected Rs 2,137.92 crore for the non-maintenance of minimum average balance during the year, Chaudhary said in a written reply to the Rajya Sabha. 

HDFC Bank topped with a collection of Rs 1,798.14 crore, followed by Axis Bank at Rs 1,081.33 crore during FY26, based on RBI data quoted by the minister.

Together, the two banks collected Rs 2,879.47 crore, which accounted for 58% of the total amount garnered by 19 private sector banks.

"No penal charges are levied on Basic Savings Bank Deposit Accounts, including Pradhan Mantri Jan Dhan Yojana (PMJDY) Accounts, etc," Chaudhary said.