⁠Top Bank Locker Charges Compared: SBI, ICICI Bank, HDFC Bank And Others

Central to every person's financial security is the safekeeping of valuables such as jewellery, important documents and heirlooms. For this reason, safe deposit lockers continue to be a valued service offered by banks across India. But the rental charges for these lockers can vary based on locker size, branch location (rural, semi-urban, urban, or metro), and the bank's internal policies.

Let's find out how four banks — SBI, PNB, HDFC Bank and ICICI Bank — stack up in terms of locker rental fees in 2025.

State Bank of India (SBI)

India's largest public-sector bank offers a tiered pricing structure that varies by locker size and location. A one-time registration fee applies — Rs 500 + GST for small and medium lockers, and Rs 1,000 + GST for large and extra-large lockers.

Annual charges (excluding GST):

Small lockers:

• Rural / Semi-urban: Rs 1,000

• Urban / Metro: Rs 1,500

Medium lockers:

• Rural / Semi-urban: Rs 2,000

• Urban / Metro: Rs 3,000

Large lockers:

• Rural / Semi-urban: Rs 5,000

• Urban / Metro: Rs 6,000

Extra large lockers:

• Rural / Semi-urban: Rs 7,000

• Urban / Metro: Rs 9,000

Punjab National Bank (PNB)

PNB offers competitive rates, with a 25% premium applied at specific metro branches. Customers are allowed 12 free locker visits annually; beyond that, each additional visit is charged at Rs 100.

Annual charges (excluding GST):

Small lockers:

• Rural: Rs 1,000

• Semi-urban / Urban: Rs 1,250

• Urban / Metro: Rs 2,000

Medium lockers:

• Rural: Rs 2,200

• Semi-urban / Urban: Rs 2,500

• Urban / Metro: Rs 3,500

Large lockers:

• Rural and Semi-urban: Rs 3,000

• Urban / Metro: Rs 5,500

Very large lockers:

• Rural and Semi-urban: Rs 6,000

• Urban / Metro: Rs 8,000

Extra large lockers:

• Across all locations: Rs 10,000

HDFC Bank

HDFC Bank's locker rentals vary even within the same location category. Prices are exclusive of 18% GST and are collected annually in advance.

Annual charges (excluding GST):

Extra small lockers:

• Metro: Rs 1,350

• Urban: Rs 1,100

• Semi-urban: Rs 1,100

• Rural: Rs 550

Small lockers:

• Metro: Rs 2,200

• Urban: Rs 1,650

• Semi-urban: Rs 1,200

• Rural: Rs 850

Medium lockers:

• Metro: Rs 4,000

• Urban: Rs 3,000

• Semi-urban: Rs 1,550

• Rural: Rs 1,250

Extra medium lockers:

• Metro: Rs 4,400

• Urban: Rs 3,300

• Semi-urban: Rs 1,750

• Rural: Rs 1,500

Large lockers:

• Metro: Rs 10,000

• Urban: Rs 7,000

• Semi-urban: Rs 4,000

• Rural: Rs 3,300

Extra large lockers:

• Metro: Rs 20,000

• Urban: Rs 15,000

• Semi-urban: Rs 11,000

• Rural: Rs 9,000

ICICI Bank

ICICI Bank's locker charges also fluctuate between branches. Rentals are location- and size-based, with payment collected annually in advance. Metro+ branches tend to have the highest rates.

Annual charges (excluding GST):

Small lockers:

• Rural: Rs 1,200

• Semi-urban: Rs 2,000

• Urban: Rs 3,000

• Metro: Rs 3,500

• Metro+: Rs 4,000

Medium lockers:

• Rural: Rs 2,500

• Semi-urban: Rs 5,000

• Urban: Rs 6,000

• Metro: Rs 7,500

• Metro+: Rs 9,000

Large lockers:

• Rural: Rs 4,000

• Semi-urban: Rs 7,000

• Urban: Rs 10,000

• Metro: Rs 13,000

• Metro+: Rs 15,000

Extra large lockers:

• Rural: Rs 10,000

• Semi-urban: Rs 15,000

• Urban: Rs 16,000

• Metro: Rs 20,000

• Metro+: Rs 22,000

Overall, when choosing a locker facility, it's not just the price that matters. Availability, proximity, locker size and any additional terms — like early surrender policies or registration fees — should be considered.