Recent changes have been made to the rules regarding rent, security, and the nomination process for bank locker facilities. These updates will be implemented in major banks across the country, including SBI, ICICI, HDFC, and PNB. Let’s take a closer look at the new charges and how much more customers will need to pay.
Banks offer locker facilities to individuals, businesses, and other entities, but not to minors. Customers pay an annual rent for the service. While banks provide strong security for stored valuables, they are not responsible for the safety of cash kept in lockers.
According to a report by ET, locker rent of SBI, ICICI Bank, HDFC Bank, and PNB may vary according to the branch of the bank, location, and size of the locker. Let’s understand its details. The bank has released the new rate.
Rent will vary according to location.
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: Rs 1,200 to Rs 10,000
Semi-urban areas: Rs 2,000 to Rs 15,000
Urban areas: Rs 3,000 to Rs 16,000
Metro: Rs 3,500 Rs. to Rs. 20,000
Urban areas: Rs. 1,100 to Rs. 15,000
Semi-urban areas: Rs. 1,100 to Rs. 11,000
Rural areas: Rs. 550 to Rs. 9,000
PNB locker charges
Rural areas: Rs. 1,250 to Rs. 10,000
Urban areas: Rs. 2,000 to Rs. 10,000
Please note that the bank provides 12 free visits to customers, after which a fee of Rs. 100 is charged for each subsequent visit.