For millions of Indians, a bank locker often serves as the go-to solution when it comes to safeguarding valuables. While they provide peace of mind, the costs associated with them might vary dramatically, depending on your back and location. It is important to take note of the latest locker charges from leading banks like the SBI, HDFC, Axis, and Canara.
While public sector banks like SBI and Canara position themselves as affordable options, especially in semi-urban and rural areas, private players - HDFC and Axis Bank - often charge a premium in metro branches. Apart from the rental fees, customers must also remain aware about hidden costs such as GST, late payment penalties as well as charges for extra visits or lost keys.
1. HDFC Bank
This bank offers lockers across multiple sizes, with annual rental charges (excluding GST) varying from one location to another.
Customers are required to pay Rs 4,000 in Metro Plus branches for extra small lockers. The same is available in Metro branches for Rs 3,300, Urban and Semi-Urban branches for Rs 2,200 and Rs 1,000 in Rural branches.
For small lockers, customer need to pay Rs 7,500 in Metro Plus, Rs 5,000 in Metro, Rs 4,000 in Urban, Rs 3,000 in Semi-Urban and Rs 2,000 in Rural locations.
For medium lockers, prices are set at Rs 12,500 for Metro Plus, Rs 10,000 for Metro, Rs 7,500 for Urban, Rs 5,000 for Semi-Urban, and Rs 4,000 for Rural branches.
Extra Medium lockers remain available from HDFC Bank at Rs 15,000 in Metro Plus, Rs 12,500 in Metro, Rs 8,000 in Urban, Rs 5,000 in Semi-Urban and Rs 4,000 in Rural areas. Meanwhile, large lockers facilities can be availed at Rs 20,000 in Metro Plus, Rs 15,000 in Metro, Rs 10,000 in Urban, Rs 8,000 in Semi-Urban and Rs 6,000 in Rural areas.
For extra Large lockers, customers have to pay Rs 40,000 in Metro Plus, Rs 20,000 in Metro, Rs 15,000 in Urban, Rs 10,000 in Semi-Urban and Rs 8,000 in Rural areas.
Notably, these charges for annual safe deposit locker rental are with effect from Apr. 1, 2026.
2. State Bank of India (SBI)
The bank offers safe deposit lockers in different sizes and types.
In urban and metro branches of SBI, the annual locker rent for SBI stands at Rs 2,000 + GST for small lockers, Rs 4,000 + GST for medium, Rs 8,000 + GST for large and Rs 12,000 + GST for extra large.
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In rural and semi-urban areas, SBI branches generally charge Rs 1,500 + GST for small, Rs 3,000 + GST for medium, Rs 6,000 + GST for large and Rs 9,000 + GST for extra large lockers.
For the first 12 visits per year, the locker visits are free, while subsequent visits are charged at Rs 100 + GST per visit. Moreover, overdue charges for locker rent get applied on quarterly basis at 10%, 20%, 30%, and 40% of the annual rent, if it is unpaid by the specified dates.
3. ICICI Bank
Locker facility at this bank depends on locker size and branch location. These get charged annually.
The rent for small lockers is Rs 1,200 in rural, Rs 2,000 in semi-urban, Rs 3,000 in urban, Rs 3,500 in metro and Rs 4,000 in metro plus areas.
For medium lockers, customers need to pay Rs 2,500 in rural, Rs 5,000 in semi-urban, Rs 6,000 in urban, Rs 7,500 in metro and Rs 9,000 in metro plus branches.
To avail large locker facility, you are required to pay Rs 4,000 in rural, Rs 7,000 in semi-urban, Rs 10,000 in urban, Rs 13,000 in metro and Rs 15,000 in metro plus.
Extra Large lockers have annual rent of Rs 10,000 in rural, Rs 15,000 in semi-urban, Rs 16,000 in urban, Rs 20,000 in metro and Rs 22,000 in metro plus areas.
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Whether your are looking for a small locker to keep your jewellery or a large one for documents and valuables, it is important to understand the pricing landscape beforehand to help avoid overpaying.
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