Banking Update: Banks charge various types of charges along with maintenance from their customers, know here...

Bank accounts have become very important in today's time. To manage the bank account properly, along with private banks, government banks also charge many types of charges. When it comes to banking charges, the first attention goes to the minimum balance maintenance charge.

Many people feel that only private banks charge minimum balance maintenance charges, but it is not so. Government banks also charge for not maintaining minimum balances. State Bank of India (SBI) also used to charge for not maintaining a minimum balance earlier, but after criticism, in the year 2019-20, the bank stopped charging for not maintaining a minimum balance.

You will be surprised to know that in the last 5 years, government banks have earned Rs 8500 crore by imposing various types of fines. Even now, a total of 12 government banks in the country charge many types of charges from their customers.

Top 5 banks that charge more
This year, the Finance Ministry released data on the earnings from bank charges in the Lok Sabha. According to these figures, Punjab National Bank (PNB), Bank of Baroda, Indian Bank, Canara Bank, and Bank of India are the top government banks that charge more from customers. After this, the Union Bank of India, Punjab and Sindh Bank, UCO Bank, Bank of Maharashtra, Central Bank, and the rest of the 11 government banks are included.

Many banks charge for not maintaining a minimum balance every quarter. At the same time, some banks charge every month. Government banks charge a penalty of Rs 100 to Rs 250 for not maintaining a minimum balance on savings accounts. At the same time, a charge of Rs 400 to Rs 600 is levied on the current account.

Many types of charges are levied.
Government banks charge many types of charges from customers along with minimum balance maintenance.

The bank also charges documentation charges at the time of loan and account opening.

Charges have to be paid for taking out the bank statement as well.

If there is a default in payment, then also the bank charges.

Charges have to be paid to the bank even for withdrawing more money than the overdraft limit.

If the customer does not submit the loan sheet on time or there is a delay in getting the papers renewed, then also the bank charges a penalty.