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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:
Type of Locker | Rural | Semi-Urban | Urban/Metro |
Small | ₹1,000 | ₹1,250 | ₹2,000 |
Medium | ₹2,200 | ₹2,500 | ₹3,500 |
Large | ₹2,500 | ₹3,000 | ₹5,500 |
Very Large | ₹6,000 | ₹6,000 | ₹8,000 |
Extra Large | ₹10,000 | ₹10,000 | ₹10,000 |
Locker Types and Their Ideal Use
Extra Large Locker: Generally preferred by rich people or large companies.
The rates are based on the branch location and locker size. A 25% surcharge is levied on the regular rent in metro cities.
Annual Locker Rent | Rural | Semi-Urban | Urban/Metro |
Small | ₹1,000 | ₹1,250 |
Metro Premium (25% Extra)
Example: Medium Locker in an Urban Branch: ₹3,500
Metro Premium: 25% Extra (₹875)
Final Rent: ₹4,375
Type of Locker | Rural | Semi-Urban | Urban/Metro |
Small | ₹4,500 | ₹5,625 |
Medium
₹9,900
₹11,250
₹15,750
Large
₹11,250
₹13,500
₹2,000
Medium | ₹2,200 | ₹2,500 | ₹3,500 |
Large | ₹2,500 | ₹3,000 | ₹5,500 |
Very Large | ₹6,000 | ₹6,000 | ₹8,000 |
Extra Large | ₹10,000 | ₹10,000 | ₹10,000 |
₹9,000
*T&C Apply
₹24,750
Very Large
₹27,000
₹27,000
₹36,000
Extra Large
₹45,000
₹45,000
₹45,000
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
Urban/Metro: ₹500
Above 3 years: Locker will be smashed
Duplicate Key: As per the bank's actual cost
While renting a locker, PNB makes you open a fixed deposit as a security deposit. It is known as a lien-marked FD.
Read More – PNB Net Banking
If the key is misplaced, you will have to pay the fee for a duplicate key.
Who can Apply?
Partnerships
Documents Required
Existing Bank Account with PNB (Suggested but not compulsory)
Collect the locker key.
Get a refund for any unused quarters, if applicable.
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:
Storage of explosive, hazardous, or prohibited substances is not allowed.
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.
Also Read - How to Activate a PNB Debit Card
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.
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.
Other Bank Locker Charges | |||
