SBI locker New Charge: These days, if you are planning to take a locker in the country’s largest bank State Bank of India (SBI), then before that you should know how much the bank charges for what size locker. SBI had increased its fee by up to 33% in February this year. Today we are telling you how much SBI charges for the locker.
How much will be charged
| locker size | Charges at Metro and Urban Branches (Rs.) | Rural and Semi Urban Branch Charges (Rs.) |
| small | 2000+GST | 1500+GST |
| medium | 4000+GST | 3000+GST |
| large | 8000+GST | 6000+GST |
| extra large | 12000+GST | 9000+GST |
Registration Charges
SBI charges a registration fee of Rs 500 plus GST for small and medium lockers and Rs 1,000 plus GST for large lockers. You have to pay this charge only once in the beginning.
How much is to be paid visit charge
12 times in a financial year locker visit remains free. Thereafter, the bank charges Rs 100 + GST per visit.
Penalty may be imposed
for not paying the rent on time; Failure to pay the rent of the locker on time may result in a fine of up to 40 per cent. According to the rules of Reserve Bank of India (RBI) banks are allowed to open your locker if you have not opened it at least once in 1 year. However, before doing so, the bank sends you a notice.
Locker can also be insured
The bank protects your belongings kept in the locker but does not compensate for theft or robbery. Apart from this, compensation will be given in case of natural calamity like earthquake or flood, terrorist attack or theft etc., it is not guaranteed. Due to such incidents you have to suffer big loss. But such loss can be avoided by insuring the locker as well. This offer is made in the form of ‘Bank Locker Protector Policy’. The bank protects your belongings kept in the locker but does not compensate for theft or robbery. Apart from this, compensation will be given in case of natural calamity like earthquake or flood, terrorist attack or theft etc., it is not guaranteed. However, if the customer has suffered a loss due to the negligence of the bank, then there is a provision of compensation.
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