Check if you're paying too much for a bank locker?
To keep your valuables safe, many banks offer safe deposit locker facility at select bank branches. Depending on the size of the locker and the location of the branch, an annual locker rent is charged which is collected in advance.
HDFC Bank has hiked its locker charges effective April 1, 2026. Now let us compare the locker charges of HDFC Bank, ICICI Bank, SBI, Canara Bank and Axis Bank.
HDFC Bank locker charges
ICICI Bank locker charges
SBI locker charges
Axis Bank locker charges
Canara Bank locker charges
Safe deposit locker charges
In addition to the annual locker rent, banks also levy various extra charges that customers should consider before availing of a safe deposit locker facility. These may vary from one bank to another, but they generally include:
One time registration charge:
A fee payable at the time of the allotment of the locker, covering administrative and documentation costs.
Locker visits charge over the prescribed number of operations:
Customers are allowed a certain number of free visits to operate the locker in a year. Any visits beyond this limit attract additional charges.
Locker rent overdue charge:
If the annual locker rent is not paid by the due date, the bank may levy an overdue penalty.
Break open charge for locker:
In cases where the locker needs to be forcibly opened, such as for non-payment of rent, loss of keys, or on the customer's request, charges for break-open, replacement of the lock, and related procedures will apply.
HDFC Bank has hiked its locker charges effective April 1, 2026. Now let us compare the locker charges of HDFC Bank, ICICI Bank, SBI, Canara Bank and Axis Bank.
HDFC Bank locker charges
ICICI Bank locker charges
SBI locker charges
Axis Bank locker charges
Canara Bank locker charges
Safe deposit locker charges
In addition to the annual locker rent, banks also levy various extra charges that customers should consider before availing of a safe deposit locker facility. These may vary from one bank to another, but they generally include:
One time registration charge:
A fee payable at the time of the allotment of the locker, covering administrative and documentation costs.
Locker visits charge over the prescribed number of operations:
Customers are allowed a certain number of free visits to operate the locker in a year. Any visits beyond this limit attract additional charges.
Locker rent overdue charge:
Break open charge for locker:
In cases where the locker needs to be forcibly opened, such as for non-payment of rent, loss of keys, or on the customer's request, charges for break-open, replacement of the lock, and related procedures will apply.
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