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Several top banks, including SBI, ICICI, HDFC, and PNB, have recently revised the charges for bank lockers. Along with this, new rules regarding locker rent, security, and nomination have also been introduced. This means customers will now have to pay higher fees for locker services depending on the size of the locker, the bank's location, and other factors. Let’s take a look at the updated locker rental charges and the changes in each of these leading banks.

Bank Locker Charges Overview

Banks provide lockers for personal customers, partnership firms, limited companies, and clubs. However, minors are not allowed to rent lockers. The rent varies based on location (rural, semi-urban, urban, and metro), the size of the locker, and the bank branch. It’s important to note that while banks assure protection of valuables, they are not liable for the safety of cash stored in these lockers.

Locker Rent Breakdown by Bank

SBI (State Bank of India) Locker Charges

SBI offers different rates for lockers based on the size and location. Here's a breakdown:

• Small Locker (125 x 175 x 492):

  • Metro/Urban: ₹2,000
  • Semi-Urban/Rural: ₹1,500

• Medium Locker (159 x 210 x 492):

  • Metro/Urban: ₹4,000
  • Semi-Urban/Rural: ₹3,000

• Large Locker (278 x 352 x 492):

  • Metro/Urban: ₹8,000
  • Semi-Urban/Rural: ₹6,000

• Extra Large Locker (404 x 529 x 492):

  • Metro/Urban: ₹12,000
  • Semi-Urban/Rural: ₹9,000

ICICI Bank Locker Rent

ICICI Bank also charges based on location and locker size:

• Small Locker:

  • Rural: ₹1,200
  • Semi-Urban: ₹2,000
  • Urban: ₹3,000
  • Metro: ₹3,500
  • Metro+: ₹4,000

• Medium Locker:

  • Rural: ₹2,500
  • Semi-Urban: ₹5,000
  • Urban: ₹6,000
  • Metro: ₹7,500
  • Metro+: ₹9,000

• Large Locker:

  • Rural: ₹4,000
  • Semi-Urban: ₹7,000
  • Urban: ₹10,000
  • Metro: ₹13,000
  • Metro+: ₹15,000

• Extra Large Locker:

  • Rural: ₹10,000
  • Semi-Urban: ₹15,000
  • Urban: ₹16,000
  • Metro: ₹20,000
  • Metro+: ₹22,000

HDFC Bank Locker Charges

HDFC offers a range of locker sizes and prices:

• Extra Small Locker:

  • Metro: ₹1,350
  • Urban: ₹1,100
  • Semi-Urban: ₹1,100
  • Rural: ₹550

• Small Locker:

  • Metro: ₹2,200
  • Urban: ₹1,650
  • Semi-Urban: ₹1,200
  • Rural: ₹850

• Medium Locker:

  • Metro: ₹4,000
  • Urban: ₹3,000
  • Semi-Urban: ₹1,550
  • Rural: ₹1,250

• Large Locker:

  • Metro: ₹10,000
  • Urban: ₹7,000
  • Semi-Urban: ₹4,000
  • Rural: ₹3,300

• Extra Large Locker:

  • Metro: ₹20,000
  • Urban: ₹15,000
  • Semi-Urban: ₹11,000
  • Rural: ₹9,000

PNB (Punjab National Bank) Locker Charges

PNB’s locker charges are broken down as follows:

• Small Locker:

  • Rural: ₹1,250
  • Urban: ₹2,000

• Medium Locker:

  • Rural: ₹2,500
  • Urban: ₹3,500

• Large Locker:

  • Rural: ₹3,000
  • Urban: ₹5,500

• Very Large Locker:

  • Rural: ₹6,000
  • Urban: ₹8,000

• Extra Large Locker:

  • Rural/Urban: ₹10,000

Additional Charges

Most banks provide 12 free visits to their customers. However, each additional visit incurs a charge of ₹100. It’s also important to note that locker availability and fees may vary across different branches.

Conclusion

With the new changes in locker rent, customers across various banks will see a rise in fees, depending on the size of their locker and location. As the demand for secure storage increases, especially for valuables and documents, customers should evaluate the revised costs and consider alternatives if needed. Always check with your bank for specific rates at your local branch and understand all terms and conditions associated with locker rentals.