Charges You Pay For State Bank Of India (SBI) Safe Deposit Locker Service

Charges You Pay For State Bank Of India (SBI) Safe Deposit Locker Service

State Bank of India (SBI) offers locker or safe deposit services in select branches. SBI charges an annual fee towards, depending on the size of the locker and the location of the branch, according to the bank’s corporate website – sbi.co.in. SBI provides lockers, also known as ‘safe deposit lockers’, of eleven types, which are classified into four categories – small, medium, large and extra large. The annual rent – the annual fee charged by SBI for the locker service – ranges from Rs. 1,000 to Rs. 9,000, according to the SBI website.

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Types of safe deposit lockers offered by SBI

SBI currently offers two sizes of safe deposit lockets in the small category; four in the medium category; three in the large category, and two in the extra large category, according to its website.

Size Type Charges
A Small Urban and metro: Rs. 1,500 + GST; rural and semi-urban: Rs. 1,000 + GST
B Small
C Medium Urban and metro: Rs. 3,000 + GST; rural and semi-urban: Rs. 2,000 + GST
D Medium
E Medium
H1 Medium
F Large Urban and metro:: Rs. 6,000 + GST; rural and semi-urban: Rs. 5,000 + GST
G Large
H Large
L Extra large Urban and metro: Rs. 9,000 + GST; rural and semi-urban: Rs. 7,000 + GST
L1 Extra large

SBI charges you have to pay for using its safe deposit locker service

State Bank of India has classified its branches into four categories: rural, urban, metro and semi-urban.

For small lockers in urban as well as metro branches, the bank charges an annual fee of Rs.1,500 plus GST. For the same sizes of lockers in rural and semi-urban branches, SBI charges a fee of Rs. 1,000 plus GST.

(Also read: Difference between SBI insta savings account and digital savings account)

SBI charges a fee of Rs. 3,000 plus GST for medium-sized lockers in urban and metro branches. In rural and semi-urban branches, SBI charges Rs. 2,000 plus GST.

For large lockers, SBI charges a fee of Rs. 6,000 plus GST in urban and metro branches. In rural and semi-urban branches, SBI charges Rs. 5,000 plus GST.

(Also read: You can keep zero balance in this SBI account till August)

Safe deposit locker registration charges levied by SBI

SBI also charges a one-time registration fee from customers subscribing to the safe deposit locker service. SBI charges a fee of Rs. 500 plus GST for small or medium safe deposit lockers, and Rs. 1,000 plus GST for large or extra large lockers.

Source:- ndtv

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