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Which Bank Offers the Cheapest Locker in 2025? Full Comparison of SBI, PNB, HDFC, and ICICI Locker Charges

Siddhi Jain | May 20, 2025 12:15 PM CST

If you’re planning to rent a bank locker in 2025 to store your valuables, important documents, or jewelry safely, knowing the rental charges of different banks is essential. Locker fees vary depending on the size of the locker and the location of the branch (semi-urban, urban, or metro areas). In this article, we compare the locker charges of four major banks in India — State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank, and ICICI Bank — to help you make an informed decision.

🔍 Quick Overview: Which Bank Offers the Cheapest Locker?

Bank	Lowest Locker Fee (Small)	Highest Locker Fee (Extra Large)
HDFC	₹1,100 (Semi-urban)	₹20,000 (Metro)
PNB	₹1,250 (Semi-urban)	₹10,000 (Any branch)
SBI	₹2,000 + GST (Urban/Metro)	₹12,000 + GST
ICICI	₹2,000 (Semi-urban)	₹22,000 (Metro Plus)

➡️ Conclusion: For small lockers, HDFC Bank offers the most affordable option, especially in semi-urban areas. However, ICICI Bank has the highest charges for larger lockers in metro cities.

📌 Detailed Locker Charges by Bank

1. Punjab National Bank (PNB)

Locker fees are based on size and branch location. If a customer pays for five years in advance and surrenders early, a pro-rata refund is given. One-time registration charges:

₹200 (Rural & Semi-urban branches)
₹500 (Urban & Metro branches)

Locker Size	Semi-Urban/Urban	Metro
Small	₹1,250	₹2,000
Medium	₹2,500	₹3,500
Large	₹3,000	₹5,500
Very Large	₹6,000	₹8,000
Extra Large	₹10,000	₹10,000

2. HDFC Bank

Locker fees vary not just by size but also by branch location. Charges are annual and paid in advance. GST at 18% is charged separately.

Locker Size	Metro	Urban	Semi-Urban
Extra Small	₹1,350	₹1,100	₹1,100
Small	₹2,200	₹1,650	₹1,200
Medium	₹4,000	₹3,000	₹1,550
Extra Medium	₹4,400	₹3,300	₹1,750
Large	₹10,000	₹7,000	₹4,000
Extra Large	₹20,000	₹15,000	₹11,000

3. ICICI Bank

Locker rentals are decided based on size and branch type. Lockers are allotted based on availability. Charges are paid annually in advance.

Locker Size	Semi-Urban	Urban	Metro	Metro Plus
Small	₹2,000	₹3,000	₹3,500	₹4,000
Medium	₹5,000	₹6,000	₹7,500	₹9,000
Large	₹7,000	₹10,000	₹13,000	₹15,000
Extra Large	₹15,000	₹16,000	₹20,000	₹22,000

4. State Bank of India (SBI)

SBI locker fees depend on the locker size and location. The bank also charges a one-time registration fee:

Small/Medium: ₹500 + GST
Large/Extra Large: ₹1,000 + GST

Locker Size	Urban/Metro Rent (Excl. GST)
Small	₹2,000
Medium	₹4,000
Large	₹8,000
Extra Large	₹12,000

🧾 Final Thoughts

Choosing the right bank for a locker depends on your budget, the locker size you need, and the branch location. Here’s a simple guide:

For the cheapest small lockers, HDFC Bank in semi-urban branches is ideal.
For large or extra-large lockers, public sector banks like PNB offer better affordability compared to private banks.
ICICI Bank, while convenient, is the most expensive for metro locations.
SBI strikes a balance between affordability and wide branch access.

Before renting a locker, check availability and specific terms at your nearest branch, and always factor in GST and registration charges in your total cost.