Bank Locker Rule 2024: Bank Locker Charges in SBI, ICICI Bank, HDFC Bank, PNB, Check Revised Rates
Bank Locker Rule 2024: As per the recent reports, some rules related to the bank locker facility have been amended. The new amendments have been introduced in the top banks of the country, such as SBI, ICICI Bank, HDFC Bank, and PNB. The bank locker facility is being provided to various variety of customers like individuals, either singly or jointly, Partnership Firms, Limited Companies, Associations, and Clubs but not to minors. Here the bank is considered as lessor and the locker holder as lessee. The bank charges the locker holder yearly locker fees for holding the locker inside the bank.
The Bank of Baroda (BOB) stated on its official website, “The Bank has the facility of nomination in case of deposit of Locker and safe custody articles facility. However, the facility of nomination is not available in case of deposit of safe custody articles by more than one person. In the event of the death of one of the joint holders of the locker/safe custody, the right to the contents of the locker or the articles under safe custody does not automatically devolve on the surviving joint holder, unless there is a nomination/survivorship clause. The customers are, therefore, advised to make nominations or open joint accounts under the survivorship clause in their own interest.”
Banks guarantee that their client’s assets are well protected, with an estimated safety rate of 100 times higher than the annual locker rental fee. However, candidates must understand the nomination benefits to secure future access. The amount of annual locker fees depends on various factors, such as the size of the locker and where the bank is situated, like Metro and Urban or Semi-Urban and Rural. The rates charged by HDFC Bank, SBI, ICICI Bank and PNB are different. Below is detailed information on the charges charged by various banks as per the bank websites.
SBI Locker Rent
- Small Locker: Rs 2,000 (Metro/Urban) and Rs 1,500 (Semi-Urban/Rural)
- Medium Locker: Rs 4,000 (Metro/Urban) and Rs 3,000 (Semi-Urban/Rural)
- Large Locker: Rs 8,000 (Metro/Urban) and Rs 6,000 (Semi-Urban/Rural)
- Extra Large Locker: Rs 12,000 (Metro/Urban) and Rs 9,000 (Semi-Urban/Rural)
ICICI Bank Locker Rent
- Rural areas: 1,200 to 10,000 rupees
- Semi-urban areas: 2,000 to 15,000 rupees
- Urban areas: 3,000 to 16,000 rupees
- Metro: 3,500 to 20,000 rupees
- Metro+ Location: Rs 4,000 to Rs 22,000
HDFC Bank Locker Charges
- Metro branches: 1,350 to 20,000 rupees
- Urban areas: 1,100 to 15,000 rupees
- Semi-urban areas: 1,100 to 11,000 rupees
- Rural areas: 550 to 9,000 rupees
PNB Locker Charges
- Rural areas: 1,250 to 10,000 rupees
- Urban areas: 2,000 to 10,000 rupees
Note: Every candidate is offered 12 free visits to the locker by the bank and after that, the bank charges Rs. 100 for every additional visit.
