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.

. Read more on Personal Finance by NDTV Profit.Bank lockers remain a trusted way to store valuables, but rental costs vary across banks and locations.  Read MorePersonal Finance 

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