Bank Locker Charges: Private vs Public Bank Locker Charges 2025, Which bank is offering the lowest locker rent, see details

Bank locker rent depends on the policies of the banks as well as the size and location of the locker. For example, in rural areas you may have to pay less rent for a locker. The fee structure of private and public banks varies. Some banks also charge penalties for registration, maintenance, or late payment.

Bank locker Fees: People use the bank’s locker facility to keep their precious jewelry, important documents and other valuables safe. This is a very reliable and popular option. Are you also planning to get a locker in the year 2025? The question is which locker will be the most economical. Which bank is charging less locker rent.

Bank locker rent depends on these things

Bank locker rent depends on the policies of the banks as well as the size and location of the locker. For example, in rural areas you may have to pay less rent for a locker. There is a difference in the fee structure of private and public banks. Some banks also charge penalty on registration, maintenance, or late payment.

How much is the locker rent in public sector banks

Banks like State Bank of India, Punjab National Bank, Bank of Baroda charge less rent on locker facility than private banks. Due to the strong presence of these banks in rural and semi-urban areas, they provide lockers at low rent.

Locker rent in State Bank of India

In metro and urban areas

  • Rs 2,000 / year for small locker,
  • Rs 4,000/year for a medium locker,
  • Rs 8,000/year for a large locker,
  • Rs 12,000/year for an extra large locker.

In semi-urban/rural areas –

  • Rent for a small locker is Rs 1,500/year,
  • Rent for a medium locker is Rs 3,000/year,
  • Rs 6,000/year for a large locker,
  • Rs 9,000/year for an extra large locker.

Locker Rent in Punjab National Bank

In Metro/Urban area

  • Small locker rent Rs. 2,000/year,
  • Medium locker rent Rs. 3,500/year,
  • Large locker Rs. 5,500/year,
  • Extra large locker Rs. 10,000/year. Rent in semi-urban/rural area is usually 20-30% less.

Locker rent in Bank of Baroda

  • The rent in this bank is similar to SBI and PNB, but in some branches the rent for a small locker can start from Rs 1,500 / year
  • What are the locker charges of private sector banks
  • The locker rents of private banks like ICICI, Axis Bank, HDFC are usually higher than public banks.

Locker Rent in HDFC Bank

In urban areas –

  • Small locker rent Rs. 1,350/year,
  • Medium locker rent Rs. 5,000/year,
  • Large locker Rs. 9,000-20,000/year,

In rural areas –

  • Small locker rent Rs. 550/year (in some cases)

HDFC can be the cheapest option for small lockers, especially in rural areas.

Locker rent in ICICI Bank

In metro or urban areas

  • Small locker rent is Rs 3,000/year,
  • Medium locker rent is Rs 5000/year,
  • Large locker rent is Rs 10,000-22,000/year.

In ICICI Bank, up to five people can take one locker and the rent is split. However, large lockers are costlier in metro cities.

Locker rent in Axis Bank

In metro/urban areas

  • Small locker rent is Rs 2,700/year
  • Large locker rent is Rs 10,800/year

Axis Bank’s fees are competitive for medium-sized lockers.

Things to consider before buying a locker

1. Apart from rent, know about registration, maintenance, and late payment penalty.

2. Due to high demand for lockers in metro cities, there may be a waiting list.

3. In most banks, it is mandatory to have an account to get a locker.

4. Understand the security features and rules of the locker, like how many free visits you will get.

The post Bank Locker Charges: Private vs Public Bank Locker Charges 2025, Which bank is offering the lowest locker rent, see details first appeared on informalnewz.

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