Top Bank Locker Charges Compared: SBI, ICICI Bank, HDFC Bank And Others
Bank lockers remain a trusted way to store valuables, but rental costs vary across banks and locations.
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.
