Bank Locker Rent Hike: PNB has increased the annual locker fees. The fees vary depending on the size. These new rules will directly impact customers’ pockets. Let’s find out which bank offers the cheapest locker service.
If you have an account with Punjab National Bank (PNB), this news is very important for you. Effective today, October 1, 2025, the bank has revised several service charges. In particular, the rules regarding locker charges have changed. This will directly impact customers’ pockets. Let’s find out how much customers will have to shell out…
How much more expensive will bank locker charges be from October 1?
PNB has increased the annual locker fees. The fees vary depending on the size.
- The fee for small locker will remain the same at Rs 1000 in rural areas, increased to Rs 1500 in semi-urban areas from Rs 1250 earlier and will remain Rs 2000 in urban-metro areas.
- The fee for medium locker has been increased to Rs 2500 in rural areas from Rs 2200 earlier, Rs 3000 in semi-urban areas from Rs 2500 earlier and Rs 4000 in urban-metro areas from Rs 3500 earlier.
- For a large locker, rural customers will have to pay Rs 4,000, semi-urban customers Rs 5,000, urban customers Rs 6,500 and metro customers Rs 7,000.
- Very Large (V Large) lockers will cost Rs 6000 in rural areas as before, Rs 7000 in semi-urban areas from Rs 6000 earlier, Rs 8500 in urban areas and Rs 9000 in metro areas from Rs 8000 earlier.
- For extra large locker, Rs 10,000 will have to be paid in rural areas, Rs 10,500 in semi-urban areas, Rs 11,000 in urban areas and Rs 12,000 in metro areas.
Changes in registration charges as well
The one-time registration fee for lockers has also been changed. It will remain at ₹200 in rural and semi-urban branches. In urban and metro branches, small and medium lockers will cost ₹500, and large lockers will cost ₹1,000. PNB’s new rules will directly impact customers’ pockets. Customers with larger lockers, in particular, will have to pay more.
Which bank has the cheapest locker service?
If you use a locker, consider the charges of State Bank, HDFC Bank, and ICICI Bank to plan your purchase. Let’s find out which bank has the cheapest locker service.
Locker Charges in State Bank of India
Locker rent at the state-owned State Bank of India (SBI) depends on the size and branch location. SBI also charges a first-time registration fee. According to an ET report, this registration fee is ₹500 plus GST for small and medium-sized lockers, while for large lockers it is ₹1,000 plus GST. In terms of annual rent, the rent for a small locker in urban and metro cities is ₹2,000 plus GST. Similarly, the rent for a medium-sized locker is ₹4,000 plus GST, for a large locker it is ₹8,000, and for a very large locker it is ₹12,000 plus GST.
Locker Charges in HDFC Bank
Locker rents for the same category may vary across different HDFC Bank branches. Rent is charged annually and must be paid in advance. Locker fees depend on the size of the locker as well as the branch’s location (e.g., metro, urban, semi-urban, and rural). Rates currently do not include 18% GST, which is added later. For example, the rent for a small locker is ₹1,200 in semi-urban cities, ₹1,650 in urban cities, and ₹2,200 in metro cities. Similarly, the rent for a medium locker is ₹1,550 in semi-urban cities, ₹3,000 in urban cities, and ₹4,000 in metro cities.
Locker Charges in ICICI Bank
Locker rent at ICICI Bank also depends on the branch and locker size. This rent is charged annually and paid in advance. Locker availability depends on the bank. According to a report in the Economic Times, the rent for a small locker is ₹4,000 in metro cities, ₹3,000 in urban cities, and ₹2,000 in semi-urban cities. The rent for a medium-sized locker is ₹7,500 in metro cities, ₹6,000 in urban cities, and ₹5,000 in semi-urban cities. The rent for a large locker is ₹7,000 in semi-urban cities, ₹10,000 in urban cities, and ₹13,000 in metro cities.
Bank locker fees include GST in addition to the above-mentioned amounts. Locker rates are also revised periodically. Therefore, it is advisable to inquire with the bank branch for the exact current rates before purchasing a locker.
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