 "Bank Locker Charges: Check out locker charges at these leading government and private banks")
A common way to store valuables is in bank lockers, commonly referred to as safe deposit lockers. Not every bank branch has this feature. Branches with locker facilities are provided with solid rooms that have been properly designed keeping security in mind. Important papers, jewellery, loan paperwork, savings bonds, and other items can be secured in lockers. Based on the size of the locker and the location of the branch, banks impose a charge for using such a service. A copy of the locker agreement defining its use will be delivered to the locker hirer at the time the locker is allocated.
Here, find the locker charges in leading government and private sectors banks all across the country:
State Bank of India (SBI): SBI levies a range of locker fees between Rs 500 and Rs 3,000, according to the location and size of the locker. The bank charges Rs 2,000, Rs 4,000, Rs 8,000, and Rs 12,000 for small, medium, large, and extra-large size lockers in metro and metropolitan regions, respectively. The public sector lender charges Rs 1,500, Rs 3,000, Rs 6,000, and Rs 9,000 for small, medium, big, and extra-large size lockers in semi-urban and rural areas.
Punjab National Bank (PNB): Locker costs at PNB Bank recently went up along with other fees. Locker yearly rent in rural and semi-urban areas ranges from Rs. 1250 to Rs 10,000. The bank fees for urban areas and metro cities vary from Rs 2,000 to Rs 10,000.
ICICI Bank: A locker can only accommodate a maximum of five hirers, as per ICICI Bank. To request a Safe Deposit Locker, you must have two photos, a signed locker agreement, and a locker application. The annual rent has to be paid in advance to the bank. The locker hirer must have an existing ICICI Bank account that is not due for Re-KYC, and is not blocked, dormant, or inactive in order to guarantee fast payment of the locker rent. The bank charges between Rs 1,200 and Rs 5,000 for a small-size locker, and between Rs 10,000 and Rs 22,000 for an extra-large locker. These fees do not include GST.
Axis Bank: Axis Bank charges Rs 1,000 plus GST initially for Locker registration (not eligible for Burgundy or Burgundy Private customers). Customers can visit their respective lockers three times without paying a fee per calendar month. Beyond that, each visit charges Rs 100 plus GST.
Quick Reads
View AllHDFC Bank: Locker costs can range from Rs 3,000 to Rs 20,000 per year based on their size, accessibility, and locations. HDFC normally charges annual storage costs of Rs 3,000 for small lockers, Rs 5,000 for medium-sized lockers, and Rs 10,000 for large lockers in metro cities and urban areas.
Canara Bank: The one-time locker registration fee at Canara Bank branches is Rs 400 excluding GST. Service charges for renting a locker are free for the first 12 operations per year, after which there is a fee of Rs 100 + GST per operation.
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