IDBI Bank Locker Charges & Rental Fees – Updated 2025

Sharma's family, living in Mumbai, has spent years planning travel worldwide. They were waiting for the long-awaited dream to come true but were worried about protecting Mrs. Sharma's expensive jewellery collection and enormous property documentation. After the family navigated through their available choices, they finally picked a medium-sized locker in one of the IDBI Bank’s branches.

Mr. Sharma is an IDBI Bank account holder. He gives the required documents, such as an Aadhaar card, PAN card, and passport photographs, to the bank during his visit. The application process in the bank has allowed him to allocate his locker within a week after all of his forms get submitted. He paid INR 3,000 (plus GST) as rent and deposited the security of INR 8,000.

Types of Lockers Available at IDBI Bank

IDBI Bank provides secure storage spaces of different sizes to match the varied needs of all its clients. Locker sizes depend on the location of the branch and customer demand patterns. The standard locker sizes include:

Small Lockers

The small lockers from IDBI Bank have dimensions of 6" x 6" x 12", which provides secure yet convenient storage solutions. Lockers at IDBI Bank offer safe storage solutions and maximum utilisation of available space.

Medium Lockers

Customer storage needs a proper space with safety through Medium Lockers at IDBI Bank, which provide sufficient space to safely keep valuable jewellery pieces alongside small valuables and important documents. The lockers measure around 12" x 12" x 18" and feature advanced security alongside convenience in storage. 

Large Lockers

IDBI Bank provides large lockers, which offer sufficient space for big jewellery boxes, essential documents, and various valuable items. The large lockers from IDBI Bank display dimensions of 18" x 18" x 24" while providing top-quality security features. 

Extra-Large Lockers

The extra-large lockers at IDBI Bank suit business owners and individuals possessing large, valuable items. The allotment dimensions for these storage compartments reach 24" x 24" x 36", which allows users to store large items and files.

IDBI Bank Locker Charges 2025 (Updated Fees)

IDBI Bank conducts a method for locker fees because operational expenses and market conditions keep changing. The locker rental fees charged by IDBI Bank will follow this structure during 2025.

Additional Charges:

• GST (Goods and Services Tax): GST at 18% is applicable on the annual rent.
• Duplicate Key Charges: ₹ 500 - ₹ 1,000 (in case of lost keys).
• Locker Break-Open Charges: ₹ 2,000 - ₹ 5,000 (if both keys are lost and the locker needs to be broken open).

Security Deposit & Locker Key Policy

Security Deposit

The security deposit for renting a locker at IDBI Bank must be paid in one installment by its customers. Customers must submit a deposit as a protective measure to defend against damage to the locker and rental fee nonpayment. 

Locker Key Policy

• Each locker requires a double security measure through two key access systems provided to customers.
• The bank maintains a key, and customers care for the second key in this system.
• The bank will provide a duplicate key for customers who lose keys after bank officials verify their identity and charge a minor fee.
• Both key losses lead the bank to open the locker, which results in costs that the customer must pay.

Eligibility Criteria & Required Documents for IDBI Bank Locker

Eligibility Criteria

IDBI Bank locker rental service availability requires customers to fulfill these criteria.

Required Documents

The following documents are required to apply for a locker:

How to Apply for an IDBI Bank Locker?

Applying for a locker at IDBI Bank is a straightforward process. Follow these steps:

Step 1: Visit the nearest IDBI Bank branch. You can find your nearest IDBI Bank branch with the help of their Branch Location.

Step 2: To initiate the application process, one should request an application form for a bank locker from IDBI Bank branches.

Step 3:  Fill in the required details and attach documents like address proof.

Step 4: After completing your form, submit it to the bank representative.

Step 5:  When IDBI Bank verifies your documents, the bank will give you a locker with your papers.

Note:

The customers must wait for available locker space because allocation depends on availability. During waiting periods, customers get placed on a waiting list.

How to Surrender an IDBI Bank Locker?

If you don’t want to require or no longer require a locker, you can surrender it by following these steps:

Step 1: Visit the IDBI Bank branch. 

Step 2: Take all the items from the lockers and ensure they are empty.

Step 3: When you take all the items, inform the bank staff that I removed all belongings from the locker and wanted to close it today.

Step 4: Return the locker key to the bank staff, which the bank gave you when you came to open the locker. If you miss the key, you have to pay a replacement fee.

Step 5: The IDBI Bank verifies the locker and checks the outstanding dues; if there are no exceptional dues, the IDBI Bank refunds your security deposit to your bank account.

Tips for Choosing the Right Locker Size in IDBI Bank

1. Assess Your Storage Needs

List your valuables: Make records of all valuables you plan to keep in storage. Include jewellery, documents with money, and any additional essential items.

Estimate Space Required: Consider the size and quantity of your valuables to determine how much space you’ll need.

2. Check Availability

Locker availability varies by branch. Check locker size availability at your nearest IDBI Bank branch by phone.

3. Read the Terms and Conditions

Read the locker agreement in detail to understand all contract provisions' costs and operating times.

4. Ask For Recommendations

Seek assistance from bank staff to determine the most suitable locker size according to your needs because the bank staff knows you better than the customer.

Conclusion

Customers can select IDBI Bank as their safe storage solution because it provides secure and convenient locker facilities. Customers can find the right locker size among four options: small, medium, large, and extra-large at IDBI Bank. The lockroom service fees at IDBI Bank begin at ₹ 1,500 annually for small units and increase according to branch location up to ₹ 7,000 for extra-large compartments. 

The security deposit for storage at Padheal is refundable, whereas it requires customers to pay a locker size-dependent security deposit that they will receive back.

Customers require two steps to obtain a locker at IDBI Bank—being an existing account holder with the bank or establishing a new bank account. The simple application process starts at the nearest branch, where you complete the locker application form while presenting KYC details with proof of address documents. 

FAQ on IDBI Bank Locker Charges

1. What is the annual rent for a small locker at IDBI Bank?

IDBI Bank provides small lockers for annual rent, from INR 1,500 to INR 2,500, without GST consideration. Available prices for small lockers at IDBI Bank fluctuate based on their branch locations. 

2. Is the security deposit refundable?

Yes, the security deposit is refundable upon surrendering the locker, provided there are no outstanding dues or damages. 

3. Are there any penalties for late payment of locker rent?

Yes, IDBI Bank may charge a penalty for late payment of locker rent. It is advisable to pay the rent on time to avoid additional charges.

4. How long does it take to get a locker allocated?

Locker allocation depends on availability. If lockers are available, the process can be completed within a few days. Otherwise, you may be placed on a waiting list.

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