People often resort to bank locker to keep their expensive things and important papers safe. From public sector banks to private banks, customers provide the facility of safe deposit locker. However, in return they charge rent from customers, which happens annually. Apart from this, there is also a locker registration charge, which is incurred at the time of opening the locker. In this report, we have taken the details of safe deposit locker rent and registration charge of three big banks of the country – SBI, Punjab National Bank (PNB) and Bank of Baroda (BoB). Let’s see who is charging so much from the customer on the locker service…
SBI Locker Charges
State Bank of India (SBI) has implemented the new locker rent from 31 March 2020, which is up to Rs 3000 more than the earlier rent. There was an increase in the rent of locker of all sizes of small, medium, large and XL. Within this scope, SBI Safe Deposit Lockers will be present in metro city, urban, semi urban and rural areas. The locker visit is free for 12 times in SBI. After this, 100 rupees + GST is charged per visit. The details of old and new applicable rent for locker in SBI is like this…
Registration Charge: The one-time registration charge for opening small and medium size lockers in SBI is Rs 500 + GST. At the same time the registration charge for large and XL locker is 1000 rupees + GST. SBI offers a 25 percent discount on locker rent on a platinum variant account in the case of salary package accounts. At the same time, the discount on the diamond variant account is 15 percent.
PNB Locker Charges
There are 15 locker visits free in Punjab National Bank in a year. After that a charge of Rs 100 per visit is charged. The minimum period of locker facility in the bank is 1 year. If a locker surrenders within a year, then the rent for the remaining months of the year will be refunded. If someone surrenders the locker within 5 years, then the remaining amount will be refunded after deducting the normal locker rate. However there will be no GST refund. The annual rent for safe deposit locker in Punjab National Bank is as follows-
PNB also offers a discount on advanced locker rent. This exemption for staff is 75 percent. At the same time, for other customers, the discount in the locker rent varies according to the period.
- 1 year + 6 months and above: 2%
- 2 years: 5%
- 3 years: 10%
- 4 years: 15%
- 5 years: 20%
Registration Charge: The one-time registration charge for locker in PNB is Rs 200 in rural and semi-urban areas and Rs 500 in urban and metro areas.
Bank of Baroda (BoB) Locker Charges
Locker Visit is free at Bank of Baroda 12 times in a year. After this, a charge of Rs 100 per visit will have to be paid. The current locker service charges without GST in this bank are as follows-
Bank of Baroda is giving 10 percent discount to the general customer on paying 3 years locker rent in advance. At the same time, the rebate is 20 percent if the premium current account and premium current account privileges are provided to the locker rent in advance for 3 years or more.
Bank of Baroda new rules from November 1, know the details before transaction