Bank lockers are a popular means of storing jewellery and important papers. Banks charge a fee for this service, which is based on the size of the locker. Bank locker charges depend on the size of the locker and the area- urban, rural or metro. In September, the Reserve Bank of India (RBI) issued revised guidelines on safe deposit locker and safe custody article facilities provided by banks. The new locker rules have been effective since 1 January 2022.
Here is a look at the charges of bank lockers by State Bank of India (SBI), ICICI Bank and Punjab National Bank (PNB)
SBI locker charges
1) SBI's small locker rental charges
Urban and Metro : ₹2000+Gst
Rural and Semi Urban: ₹1500+Gst
2)SBI's medium locker rental charges
Urban and Metro : ₹4000+Gst
Rural and Semi Urban: ₹3000+Gst
3) SBI's large locker rental charges
Urban and Metro : ₹8000+Gst
Rural and Semi Urban: ₹6000+Gst
4) SBI's extra large locker rental charges
Urban and Metro : ₹12000+Gst
Rural and Semi Urban: ₹9000+Gst
SBI also imposes a one-time locker registration charge of ₹500 plus GST for small and medium lockers while for large and extra-large lockers, you have to pay ₹1,000 plus GST.
ICICI Bank locker charges
ICICI Bank charges ₹1,200 to 5,000 for a small size locker and for extra-large the rent can range from ₹10,000 to 22,000. These charges are excluding GST. ICICI Bank collects the annual rent amount in advance.
PNB locker charges
PNB hiked locker charges with effect from 15 January. Locker annual rent varies from ₹1,250 to ₹10,000 in rural and semi-urban areas. For urban and metro, the bank charge varies from ₹2,000 to ₹10,000
