How Much Does a Bank Locker Cost?

A bank locker is a paid service, and the annual rent depends mainly on the locker size and the location of the bank branch. There is no single fixed price for all banks.

For example, HDFC Bank's current locker rentals, effective April 1, 2026, range from ₹1,000 to ₹40,000 per year before GST, depending on size and branch category.

Typical Bank Locker Charges

As a general idea, annual locker rent can look like this:

Locker Size Approx. Annual Rent

Small ₹1,500–₹7,500

Medium ₹2,500–₹12,500

Large ₹4,000–₹20,000

Extra Large ₹8,000–₹40,000

These are indicative ranges; the actual amount depends on the bank and branch.

What Determines the Cost?

1. Locker Size

A small locker for documents will generally cost less than a large locker meant for jewellery and other valuables.

2. Branch Location

Banks usually charge different rents for metro, urban, semi-urban and rural branches.

3. GST

Locker rent is generally subject to 18% GST, so the final amount you pay can be higher than the advertised annual rent.

4. Additional Charges

Apart from annual rent, some banks may charge for services such as locker registration, excess visits, or breaking open a locker because of a lost key or unpaid rent. For example, SBI lists separate charges for registration, excess visits and breaking open a locker.

Is Bank Locker Rent Paid Monthly?

Usually, locker rent is charged annually and collected in advance. The exact payment process depends on the bank.

How Much Should You Budget?

If you only need a small locker for important documents or jewellery, a few thousand rupees per year may be enough. Larger lockers at premium metro branches can cost considerably more.

Before choosing a locker, compare annual rent, GST, additional charges, locker size and branch location rather than looking at rent alone.

Final Takeaway

There is no universal bank locker fee in India. The cost depends on the bank, locker size and branch location, with annual rent ranging from relatively low amounts for small lockers to tens of thousands of rupees for larger lockers at premium branches.