Most of us like to keep our valuables in bank lockers as they are considered to be safe. Safe deposit or bank lockers are one of the most important facilities offered by a bank. These lockers come in different sizes- small, medium, large and extra large. However, renting a bank locker is not cheap. It, typically, depends on the size of the locker and the bank branch you opt for. Country’s top lender State Bank of India (SBI) had hiked rental charges for its safe deposit lockers across India effective 31 March. SBI branches offer cheaper locker services in semi-urban and rural areas.

Here are the charges of small, medium, large and extra large lockere offered by SBI:

1) SBI’s small locker rental charges

Urban and Metro : 2000+Gst

Rural and Semi Urban: 1500+Gst

2)SBI’s medium locker rental charges

Urban and Metro : 4000+Gst

Rural and Semi Urban: 3000+Gst

3) SBI’s large locker rental charges

Urban and Metro : 8000+Gst

Rural and Semi Urban: 6000+Gst

4) SBI’s extra large locker rental charges

Urban and Metro : 12000+Gst

Rural and Semi Urban: 9000+Gst

5) One-time locker registration charge

SBI also imposes a one-time locker registration charge of 500 plus GST for small and medium lockers while for large and extra large lockers, you have to pay 1,000 plus GST.

6) Locker visit charges

SBI offers 12 visits free for all locker sizes. Thereafter, the bank charges 100 /- + GST per visit.

According to Reserve Bank of India (RBI) regulations, banks are allowed to open your locker if you have not operated it at least once in a year. But banks are required to send you a notice asking you to either operate the locker or surrender it.

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