Bank Locker Facility: SBI, PNB, ICICI, HDFC Bank Charges, Eligibility, Nomination; Key Details

Bank Locker, where people can keep their valuables including jewellery, property documents and insurance policies, is a service that banks provide to their customers. It keeps valuables in safe deposit lockers and charges a fee for the same. Bank safe deposit lockers are available in various locations and sizes depending on the need of the depositors. Here are the locker charges of ICICI Bank, PNB, SBI and HDFC Bank:

ICICI Bank Locker Charges

ICICI Bank charges between Rs 1,200 to Rs 5,000 annually for small size lockers. It charges Rs 2,500-9,000 for medium-sized lockers. ICICI Bank charges Rs 4,000-15,000 for a large locker, and between Rs 10,000 to Rs 22,000 for an extra-large locker. Over and above this, applicable GST is also levied.

According to the ICICI Bank website, ‘Locker rent is charged annually and is paid in advance. Allocation of lockers is subject to availability and at the discretion of ICICI Bank. All other applicable terms and conditions in respect of lockers will be communicated through the locker agreement.”

Punjab National Bank Locker Charges

PNB charges an annual locker rent above Rs 1,250 in rural and semi-urban areas. Bank charges range from Rs 2,000 to Rs 10,000 for urban and metro areas.

SBI locker charges

SBI charges locker charges in the range of Rs 500 to Rs 3,000. In metro and metropolitan areas, the bank charges Rs 2,000, Rs 4,000, Rs 8,000 and Rs 12,000 for small, medium, large and extra large size lockers, respectively. In semi-urban and rural locations, SBI charges Rs 1,500, Rs 3,000, Rs 6,000 and Rs 9,000 for small, medium, large and extra large size lockers, respectively.

hdfc bank locker charges

It charges locker rent in the range of Rs 550 to Rs 20,000 annually – Rs 550 is charged for an extra small locker in rural areas, while Rs 20,000 is charged for an extra large locker in metro cities.

“The rent may differ between branches under the same location. The rent for our lockers varies depending on the size of the locker and the branch location. Allotment of lockers is subject to availability,” HDFC Bank’s website said.

Eligibility for Safe Deposit Locker

Lockers can be hired by individuals, limited companies, associations and trusts.

Is nomination facility available?

Yes, nomination facility is available in the safe deposit lockers. Nomination on a safe deposit locker enables the bank to release the contents to the nominee of the hirer in the event of his death. If a locker is held jointly, and one of the hirers dies, the locker can be removed only by the nominee(s) and the survivor(s) jointly.

How can you add/cancel/modify a nominee in your locker?

You will need to fill up some forms and submit them at your locker branch. The forms are available in the Form Center section of the Bank’s website.

– For adding a nominee: Form SL1 (Sole Tenant) / SL1A (Joint Tenant)

For cancellation of nomination: Form SL2

For change in nomination: Form SL3 (Sole Tenant) / SL3A (Joint Tenant).

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