SBI Locker Charges 2025

Overview

Most Indian banks, including the State Bank of India (SBI), offer locker facilities for secure storage of valuables such as important documents and jewelry. SBI charges an annual rental fee for this service, which varies based on locker size and location.

Read on for the updated SBI locker charges, eligibility criteria, and operational rules for 2025.

Types of SBI Lockers

SBI provides four variants of lockers:

• Small
• Medium
• Large
• Extra Large

SBI Locker Charges 2025

Annual Locker Rent

The rental charges depend on the locker size and the branch location (Urban/Metro vs. Rural/Semi-Urban):

Discounts for Salary Package Account Holders

• Platinum Variant: 25% discount on locker rent.
• Diamond Variant: 15% discount on locker rent.

Additional Charges

• One-Time Locker Registration Fee: ₹500 + GST (Small/Medium), ₹1,000 + GST (Large/Extra Large).
• Breaking Open of Locker (Lost Key/Non-Payment): ₹1,000 + GST + actual expenses.
• Locker Visit Charges: 12 free visits annually; ₹100 + GST per extra visit.
• Locker Rent Overdue Charges:
  • 1st Quarter: 10% of annual rent
  • 2nd Quarter: 20% of annual rent
  • 3rd Quarter: 30% of annual rent
  • 1 Year: 40% of annual rent
  • If overdue for more than a year, SBI will break open the locker.

SBI Locker Charges for Gold

SBI does not impose separate charges for storing gold in lockers. The applicable charges are the same as those listed above based on the locker size and location.

How to Check Locker Availability?

You can check SBI locker availability online:

1. Visit the SBI Locker Enquiry page.
2. Enter your state, district, PIN code, and captcha.
3. Click ‘Submit’ to view available lockers at nearby branches.
4. Visit the branch to proceed with locker booking.

SBI Locker Eligibility & Required Documents

Eligibility Criteria

• Must have a savings or current account with SBI for at least 3 years.
• KYC details should be updated as per the latest guidelines.
• The account should be active (no transactions for 1 year disqualify you).
• Must maintain a good account balance over the past year.
• VIP customers, HNIs, and salary account holders are exempt from term deposits for lockers.

Documents Required

• Locker Application Form
• Two Passport-Size Photographs
• Identity Proof (Aadhaar, Passport, Voter ID, Driver’s License, etc.)
• Address Proof (Aadhaar, Passport, Rent Agreement, Utility Bill, etc.)
• Permanent Account Number (PAN) Card

How to Open an SBI Locker?

1. Check Availability: Visit the SBI Locker Enquiry page and find available lockers near you.
2. Visit the Branch: Go to the branch with availability.
3. Submit Application: Fill out the application form and submit required documents.
4. Waitlist (If Necessary): If lockers are unavailable, you’ll be placed on a waitlist.
5. Locker Allotment: SBI will notify you via written letter when a locker is available.
6. Locker Agreement: Complete KYC formalities and sign the locker agreement.
7. Security Deposit: Some customers may need to provide a term deposit covering three years’ rent.
8. Locker Access: Once processed, you will receive a locker key and access rights.

How to Close an SBI Locker?

To close your locker, follow these steps:

1. Visit the branch where the locker is located.
2. Request closure and clear any pending dues.
3. Empty the locker and return the key.
4. The bank will issue a closure acknowledgment document.

SBI Locker Operation Rules

• Advance Rent Payment: Locker rent is collected annually by March 31st.
• Restricted Access for Overdue Rent: If rent is overdue, access is denied until payment is made.
• Locker Breaking Policy: If rent is overdue for 3 years, SBI will break open the locker and sell items to recover dues.
• Prohibited Items: Storing hazardous or illegal items is strictly forbidden.
• Nomination Facility: Available for both single and joint locker holders.
• Inactivity Rule: If a locker remains inactive for 7 years and the bank cannot contact the owner, ownership will be transferred to the nominee. If no nominee is registered, SBI will break open the locker.

Frequently Asked Questions (FAQs)

1. Can I open an SBI locker without having an SBI account?

No, you must have a savings or current account with SBI for at least 3 years to be eligible for a locker.

2. How often can I access my locker?

You get 12 free visits per year. After that, each visit costs ₹100 + GST.

3. What happens if I lose my locker key?

You must notify the bank immediately. A fee of ₹1,000 + GST, plus actual expenses for breaking open the locker, will be charged.

4. Can my nominee access my locker after my death?

Yes, if you have registered a nominee, they can claim the contents of the locker by providing the necessary documents.

5. What happens if I don’t pay my locker rent?

If you fail to pay for 3 years, SBI will break open the locker and sell its contents to recover dues.

6. Can I change my locker size later?

Yes, subject to availability, you can request a locker size upgrade or downgrade by visiting your branch.

7. Can I share my locker with someone else?

Yes, joint lockers are allowed, and all parties must complete KYC verification.

8. Is my locker insured by SBI?

No, SBI does not provide insurance for locker contents. You may need to get a separate insurance policy.

9. Can I authorize someone to operate my locker?

Yes, you can provide written authorization to allow a trusted person to access your locker.

10. What is the maximum duration I can keep a locker inactive?

If a locker is inactive for 7 years, SBI will transfer ownership to the nominee or break open the locker if no nominee is registered.

Conclusion

SBI’s locker facility provides a secure space for valuables at competitive rates. Understanding the charges, eligibility, and operational rules ensures smooth locker management. Visit your nearest SBI branch to open a locker today!

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