A shaft balancing device for insertion into a shaft including a generally flat cylindrical band having an outer surface, an inner surface and a set of two crush points thereon. A balancing weight is attached to the outer surface of the band between the set of crush points. The device is inserted into the shaft and the crush points are plastically deformed radially outward creating spring force which holds the balancing weight to the inner surface of the shaft. The band has a curved connecting portion between the two crush points having a radius of curvature slightly greater than the curvature of the shaft. The balancing weight has a radius of curvature slightly greater than the radius of curvature of the curved connecting portion and slightly less than the radius of curvature of the shaft.
