PNB Locker Charges – Complete Guide to Fees & Rental Costs

Meena, a school teacher in Delhi, recently rented a locker at a Punjab National Bank (PNB) branch to keep her family’s jewellery and important documents safe. She thought it was a simple and secure way to protect her valuables. She chose a medium-sized locker at an urban branch and expected to pay ₹3,500 annually.

She later discovered that the branch was in a metro city, with a 25% extra charge, raising her rent to ₹4,375 annually. On top of that, she exceeded the limit of 12 free visits and was charged ₹100 for each extra visit. These unexpected costs surprised Meena. Knowing all the charges beforehand, she could have planned better and avoided these additional expenses.

Types of Lockers Available at PNB

PNB provides varying locker sizes according to the customer's requirements. The fee differs depending on the size and the branch location. The following are the types of lockers available for selection:

Locker Types and Their Ideal Use

• Small Locker: Ideal for holding jewellery and some documents.
• Medium Locker: Ideal for holding more jewellery and significant documents.
• Large Locker: Ideal for keeping bigger valuables and several documents.
• Very Large Locker: Utilised by big businesses or individuals with bulk valuables.

• Extra Large Locker: Generally preferred by rich people or large companies.

   

PNB Locker Charges 2025

The rates are based on the branch location and locker size. A 25% surcharge is levied on the regular rent in metro cities.

Metro Premium (25% Extra)
Example: Medium Locker in an Urban Branch: ₹3,500
Metro Premium: 25% Extra (₹875)
Final Rent: ₹4,375

Advance Rent Payment (5 Years)

If you hand over the locker within 5 years, you will pay the yearly rent rate, and the balance will be returned.

Note: GST cannot be refunded

Additional Charges

• Additional Visits: 12 visits in a year for free; ₹100 per additional visit.
• Registration Fees:
  • Rural/Semi-Urban: ₹200

  • Urban/Metro: ₹500

     

• Delay in Payment of Rent Penalty:
  • Less than or equal to 1 year: 25% of the rent
  • 1 to 3 years: 50% of the rent

  • Above 3 years: Locker will be smashed

     

• Break Open/Drill Charges: Actual cost + ₹1,000

• Duplicate Key: As per the bank's actual cost

   

Security Deposit & Locker Key Policy

While renting a locker, PNB makes you open a fixed deposit as a security deposit. It is known as a lien-marked FD.

• The FD value varies according to the locker rental and other charges.
• The key has to be returned when you hand over the locker.

• If the key is misplaced, you will have to pay the fee for a duplicate key.

   

Eligibility Criteria & Documents Required for PNB Locker

Who can Apply?

• Individuals (above the age of 18)
• Joint holders

• Partnerships

   

Documents Required

• Identity Proof (Aadhaar, PAN, Voter ID, Passport)
• Address Proof
• Recent Passport-size Photograph

• Existing Bank Account with PNB (Suggested but not compulsory)

   

How to Apply for a PNB Locker:

1. Visit your nearest PNB branch.
2. Confirm if a locker is available.
3. Fill out the application form.
4. Submit KYC documents and pay the registration fee.
5. Open a fixed deposit as a security deposit.

6. Collect the locker key.

    

How to Surrender a PNB Locker:

1. Visit the branch where you rented the locker.
2. Empty the locker.
3. Return the locker key.
4. Submit the surrender request form.

5. Get a refund for any unused quarters, if applicable.

    

Key Locker Features

• Eligibility: The locker facility is open to persons 18 years and older. This ensures customers are legally accountable and can maintain the security of their valuables.

   

• Secure and Confidential Storage: IndusInd Bank lockers provide maximum confidentiality for safeguarding valuable documents and items. The concerned persons have limited access to the locker, so your stuff's privacy and security are ensured.

   

• Dual Key System: Every locker has a dual key system: one key is given to the customer, and the bank holds the other. This dual-key system tightens security so only authorised access can open the locker.

   

• Select Branch Availability: Safe deposit lockers are available at select IndusInd Bank branches. Customers may ask about available lockers by visiting the nearest branch or viewing them online.

   

• Refundable Security Deposit: A fixed deposit (FD) must be furnished as a security deposit. The deposit will be returned on the closure of the locker, provided for payment of any outstanding dues or locker rent. The FD is used as collateral, providing extra security for the customer and the bank.

   

Important Notes:

• The locker is not a substitute for insurance; valuables must be insured separately.
• Customers have to surrender the key when returning the locker.

• Storage of explosive, hazardous, or prohibited substances is not allowed.

   

Conclusion

Meena's experience reminds all customers to be cautious of locker charges and policies before availing one. PNB locker charges are different depending on branch location and locker size. Other charges, such as premium charges in metro branches, additional visits, and penalties for late rent payments, can cause surprise expenses. 

Having all the charges and policies beforehand will assist customers in operating their lockers without any surprise. Always read the terms and conditions very well before renting a locker.

FAQs on PNB Locker Charges

How much is the annual rent for a medium locker at an urban branch?
₹3,500 (₹4,375 in chosen metro branches).

How many free visits can be made within a year?
12 visits within a year.

What if I miss paying locker rent?
A penalty of 25% for up to 1 year, 50% for more than 1 year, and locker breaking after 3 years.

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

We are a team of writers, editors, and proofreaders with 15+ years of experience in the finance field. We are your personal finance gurus! But, we will explain everything in simplified language. Our aim is to make personal and business finance easier for you. While we help you upgrade your financial knowledge, why don't you read some of our blogs?