Bank Locker Fee Changes Coming in 2025

A significant change is coming for those who use bank lockers. Major banks in India, including State Bank of India (SBI), HDFC, ICICI,

and Punjab National Bank (PNB), have announced an increase in their locker fees. These changes will take effect by 2025 and could be a financial burden for many users.

New Charges by State Bank of India (SBI)

The State Bank of India, the largest public sector bank in India, has revised its locker fees. SBI customers will now pay a minimum of Rs 1500 for a bank locker.

This fee will vary depending on the location. In semi-metro and rural areas, it will be Rs 1500, while in metro cities and larger urban areas, it can rise to Rs 12000.

ICICI Bank and HDFC Bank Locker Fee Changes

ICICI Bank has also increased its locker charges. In smaller towns and rural areas, the charge starts at Rs 1200.

However, in large cities and metro areas, it can go up to Rs 22000, which could impact users with valuable items stored in lockers.

HDFC Bank has also made changes to its locker fee structure. In small towns, the charges range from Rs 1500 to Rs 7000, while in metro cities, the fee can go as high as Rs 10000.

These changes may cause many customers to reconsider how they protect their valuable belongings.

PNB Bank’s Premium Locker Charges

Punjab National Bank (PNB) has imposed a new fee structure as well. In metro cities, PNB will charge a 25% premium on locker fees.

Additionally, a fee of Rs 12 per visit will apply. If customers exceed 12 visits, an extra Rs 100 will be charged for each additional visit, which could be challenging for frequent locker users.

GST Charges on Bank Lockers

On top of the new locker charges, customers will also need to pay an 18% GST. This will be calculated based on the annual locker charges, adding extra costs for customers each year.

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