Central Bank of India Locker Charges 2025 – Latest Rental Fees & Details

Imagine Priya, a working professional who frequently travels for business. She owns valuable jewellery and important documents but worries about their safety at home. To secure them, she rents a small locker at a metro branch of the Central Bank of India, paying an annual rent of ₹2,000. She enjoys 12 free visits annually, ensuring easy access without extra charges.

Now, what if Priya delays her payment by 6 months? She could face additional penalties, making her locker rental more expensive. By staying informed and paying on time, Priya avoids extra fees and ensures her valuables remain safe.

This guide will help you understand everything about the Central Bank of India’s locker facilities, including available sizes, updated charges for 2025, security deposits, and how to apply.

Types of Lockers Available at Central Bank of India

The Central Bank of India caters to diverse customer needs by offering a range of locker sizes. These sizes are designed to accommodate various storage requirements, ensuring customers can select a locker that best fits their valuables. The available locker sizes are categorised as follows:

• Small Lockers: Ideal for storing essential documents, small pieces of jewellery, and other compact valuables.
• Medium Lockers: Suitable for more significant documents, jewellery sets, and small electronic devices.
• Large Lockers: Designed to store bulkier items, including multiple jewellery boxes, significant documents, and other sizable valuables.
• Extra-Large Lockers: Best suited for substantial storage needs, accommodating large valuables and extensive documents.

Each locker size is associated with specific dimensions and annual rental charges, which vary based on the branch's location—rural, semi-urban, urban, or metropolitan areas.

Central Bank of India Locker Charges 2025 (Updated Fees)

The annual rental charges for lockers at the Central Bank of India are determined by the locker's size and the branch's geographical location. Below is a detailed breakdown of the locker charges for 2025:

Note: The above charges are indicative and subject to change. Customers are advised to contact their nearest Central Bank of India branch for the most accurate and updated information.

Example: How Much Does a Medium Locker Cost in an Urban Branch?

• Base Rent: ₹3,000 per year
• GST (18%): ₹3,000 × 18% = ₹540
• Total Cost: ₹3,000 + ₹540 = ₹3,540 per year

Additional Charges

One-Time Registration Fee

• Rural/Semi-Urban Branches: ₹300
• Urban/Metro Branches: ₹500

Free Locker Visits & Extra Charges

• Customers get 12 free visits per year.
• Beyond this, a fee of ₹100 per additional visit applies (GST extra).
  
  

Penalty for Late Payment of Locker Rent

Late payment of locker rent incurs penalties

Example: Late Payment Penalty for a Large Locker in a Metro Branch

• Annual Rent: ₹7,000
• If payment is delayed beyond 6 months, a 25% penalty applies:
  • ₹7,000 × 25% = ₹1,750
  • Total Payable: ₹8,750

Security Deposit & Locker Key Policy

Security Deposit

• Customers must maintain a Term Deposit covering three years’ rent + break-open charges of ₹1,000.
• This deposit ensures that locker rent is prepaid, reducing defaults.
• However, if a customer surrenders a locker, the proportionate amount of advance rent collected will be refunded to the customer. Regular charges will be charged if the locker was surrendered before five years, and the rest will be refunded. Concessional rates for advance rent payments for 1 year, 6 months, and 5 years will not be available.

Indicative Security Deposit Amounts

Note: These figures are indicative and may vary across branches.

Locker Key Policy

• Customers receive a unique locker key at the time of allotment.
• Lost Key? The customer must immediately inform the bank.
• Charges for lost key replacement: ₹1,000 + GST (plus break-open and lock replacement costs)

Eligibility Criteria & Required Documents for Central Bank of India Locker

To avail of the locker facility at the Central Bank of India, customers must meet certain eligibility criteria and provide specific documentation:

Eligibility Criteria:

• Account Holder: The primary requirement is to have an existing savings or current account with the Central Bank of India.
  
  
• Age Requirement: Individuals must be at least 18 years old. Minors are not eligible to operate a locker independently.
  
  
• Entities: Apart from individuals, partnerships, companies, trusts, and associations can also apply for locker facilities, provided they have the necessary account relationships with the bank.

Required Documents:

• KYC Documents: Valid identification proof (such as an Aadhaar card, PAN card, or passport) and address proof (such as utility bills or rental agreements).
  
  
• Passport-size Photographs: Recent photographs of the individual or authorised signatories in case of entities.
  
  
• Locker Agreement: A duly filled and signed locker agreement form that outlines the terms and conditions of the locker usage.

How to Apply for a Central Bank of India Locker

Applying for a locker at the Central Bank of India is a straightforward process. Prospective customers can choose between online and offline application methods:

Offline Application Process:

1. Visit the Branch: Visit the nearest Central Bank of India branch offering locker facilities.
2. Check Availability: Enquire about the availability of lockers in the desired size.
3. Fill Application Form: Obtain and complete the locker application form, providing all necessary details.
4. Submit Documents: Provide the required KYC documents, photographs, and other necessary paperwork.
5. Pay Charges: Pay the applicable security deposit and the first year's rental charges.

6. Locker Allotment: Upon successful verification and payment, the bank will allot the locker and provide the key to the customer.

    

Online Application Process:

1. Access Online Portal: Visit the Central Bank of India's official website and navigate to the locker application section.
2. Check Availability: Use the online system to check the availability of lockers at your preferred branch.
3. Submit Application: Fill out the online application form with the required details.
4. Upload Documents: Upload scanned copies of the necessary KYC documents and photographs.
5. Await Confirmation: After submission, the bank will review the application. You will be notified to visit the branch for verification, payment, and key collection upon approval.

Note: Online application facilities may be subject to regional availability. It is advisable to contact the branch or refer to the official website for detailed information.

How to Surrender a Central Bank of India Locker

If a customer wishes to discontinue the locker facility, the following steps should be undertaken:

1. Empty the Locker: Remove all contents from the locker.
2. Return the Key: Submit the locker key to the bank officials.
3. Submit a Written Request: Provide a formal application stating the intention to surrender the locker.
4. Settle Dues: Ensure all pending rental charges or dues are cleared.
5. Obtain Acknowledgement: After completing the above steps, the bank will provide an acknowledgement of the surrender process. The security deposit will be refunded to the customer after the applicable charges have been deducted.
   
   

Conclusion

The Central Bank of India’s locker facility provides a secure and convenient way to store valuables, ensuring peace of mind for customers. With various locker sizes, reasonable charges, and a straightforward application process, it caters to the diverse needs of individuals and businesses alike. 

It is essential to stay updated on the latest locker charges and policies to make an informed decision. Whether you are applying for a new locker or planning to surrender an existing one, understanding the terms and requirements can help you navigate the process smoothly.

FAQs on Central Bank of India Locker Charges

1. What are the Central Bank of India locker charges for 2025?

Locker charges vary based on size and location, ranging from ₹1,100 to ₹11,000 per year. Customers should check with their respective branches for precise fees.

2. Is there a security deposit for obtaining a locker?

The bank requires a refundable security deposit, usually equivalent to three years' rental charges.

3. Can I apply for a locker online?

Some branches allow online applications, but most require an in-person visit for verification and locker allocation.

4. What happens if I lose my locker key?

In case of a lost key, the customer must immediately inform the bank. A replacement fee and, if necessary, locker lock change charges will apply.

5. Can joint account holders apply for a locker?

Yes, joint account holders can apply for a locker and authorize each other to access it.

6. How can I check locker availability?

Locker availability can be checked at the branch or through the bank’s online platform, depending on regional accessibility.

7. What is the penalty for late payment of locker charges?

Failure to pay the annual locker rent on time may result in penalty charges and eventual termination of the locker facility.

8. Can I upgrade to a bigger locker if needed?

Yes, customers can request an upgrade based on availability. A revised rental charge will apply.

9. How do I surrender my locker?

To surrender a locker, customers must empty it, return the key, submit a written request, and clear any pending dues.

10. Is my locker insured against theft or damage?

No, locker contents are not automatically insured. Customers may consider availing of separate insurance for valuables stored in the locker.

For the latest updates and policies, visit the official website of the Central Bank of India or contact your nearest branch.

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