SBI Locker Charges – Updated Rental Fees & Security Deposit Details

You just bought a beautiful gold necklace for your daughter’s wedding. It cost you a hefty ₹5 lakh. Every time you leave the house, you can't help but worry about it. What if there’s a burglary? What if you misplace it? That constant fear is exhausting, right? This is where a bank locker comes in handy. Knowing that your valuables are safe and secure gives you peace of mind.

If you are a State Bank of India (SBI) customer thinking about getting a locker, you might wonder about the charges and the process. This blog will guide you through the same.

Types of Lockers Available at SBI Bank

SBI offers four main types of lockers based on size. These are suitable for storing everything from small documents to large jewellery.

1. Small Locker: Suitable for keeping important documents, small jewellery, and some cash.

    

2. Medium Locker: Ideal for storing larger jewellery sets, property papers, and some family valuables.

    

3. Large Locker: Good for individuals with extensive gold jewellery collections, legal documents, or expensive gadgets.

    

4. Extra Large Locker: This is best for businesses or individuals with substantial assets like gold bars, bulky valuables, or high-value items.

    

SBI Locker Charges 2025 (Updated Fees)

The charges for SBI lockers depend on the size and location of the branch. SBI branches in urban and metro areas usually charge more than those in rural and semi-urban locations.

Additional Charges:

• One-Time Locker Registration Fee: ₹500 (Small/Medium) and ₹1000 (Large/Extra Large) + GST.
• Locker Visit Charges: 12 free visits per year; ₹100 + GST per visit after that.

• Breaking Open Locker (Lost Key/Non-Payment): ₹1000 + GST + Actual Expenses.

   

• Overdue Rent Charges:
• • 1st Quarter: 10% of the annual rent.
  • 2nd Quarter: 20% of the yearly rent.
  • 3rd Quarter: 30% of the yearly rent.

  • 1 Year: 40% of the yearly rent.

     

• Safe Deposit Articles: ₹300 + GST per quarter (Envelope), ₹500 + GST per quarter (Large Packet).

• Safe Custody of Scrips: ₹150 + GST per scrip, minimum ₹300 per annum.

   

Discounts for Salary Package Holders:

• Platinum Variant: 25% discount on locker rent.

• Diamond Variant: 15% discount on locker rent.

   

Security Deposit & Locker Key Policy

When you open an SBI locker, you may be asked to maintain a term deposit covering at least three years' locker rent. This deposit acts as security and ensures that locker rent is paid on time.

You will be given a key to your locker. Losing the key can cause the locker to be broken open, incurring additional costs.

Eligibility Criteria & Required Documents for SBI Locker

To apply for an SBI locker, you need to fulfil the following criteria:

1. Maintain a Savings or Current Account with SBI for at least 3 years.
2. KYC details should be updated as per the latest guidelines.
3. The account should be active and have a good balance for the last year.
4. High Net Worth Individuals (HNI), VIP customers, and Salary Package account holders may get priority.

Documents Required:

• Locker Application Form
• Identity Proof (Aadhaar, Passport, Voter ID, Driving License, PAN Card)
• Address Proof (Aadhaar, Utility Bills, Rent Agreement, Passport)
• 2 Passport-sized Photographs

How to Apply for an SBI Locker?

Step 1: Visit the SBI Locker Enquiry Page on the website. 

Step 2: Enter State, District, and PIN code details. 

Step 3: Check the availability of lockers at nearby branches. 

Step 4: Visit the branch with your documents. 

Step 5: Submit the locker application form. 

Step 6: If lockers are unavailable, you will be placed on a waitlist. 

Step 7: Once a locker is available, SBI will send a letter to your address. 

Step 8: Visit the branch within 15 days to complete the allotment process.

How to Surrender an SBI Locker?

Step 1: Visit the branch in person. 

Step 2: Clear all pending dues. 

Step 3: Empty your locker. 

Step 4: Return the keys to the bank. 

Step 5: Collect the locker surrender receipt for your records.

Which Locker is Best for You?

SBI Locker Operation Rules

• Locker Rent: Pay rent in advance by March 31 each year.

   

• Overdue Rent: If rent is overdue for 3 years, the bank will break open the locker.

   

• Prohibited Items: Illegal and hazardous items are not allowed.

   

• Inactivity: If a locker is inactive for 7 years, and the bank cannot contact you, it will be handed over to nominees (if any) or broken open.

   

Locker for Keeping Gold

SBI does not charge extra to keep gold. The charges are based solely on locker size and location.

How to Check Locker Availability in SBI?

1. Visit the SBI Locker Enquiry Page online.
2. Enter your state, district, and PIN code.

3. Submit the form to view nearby branches with locker availability

    

Conclusion

A bank locker is an excellent investment for your peace of mind. SBI offers different locker sizes to cater to every need, from small households to businesses. Understanding the charges, eligibility, and rules will help you make an informed decision. Visit your nearest SBI branch today and secure your valuables with confidence.

FAQs on SBI Locker Charges

How much does a small locker cost in SBI?

₹1500 + GST per year in urban a

How many free locker visits are allowed?

12 visits per year; beyond that, ₹100 + GST per visit.

What happens if I lose my locker key?

The bank will break open the locker at your cost (₹1000 + GST + actual expenses).

Is a term deposit mandatory for getting an SBI locker?

In most cases, yes, covering three years’ rent.

Can I keep gold in an SBI locker?

Yes, gold can be stored without any additional charges.

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?