Choosing a secure bank locker has become increasingly important in 2026 as people look for safe places to store jewellery, important documents, and other valuables. Major banks such as State Bank of India, HDFC Bank, and ICICI Bank offer lockers in different sizes and locations, with annual rental charges varying across metro, urban, semi-urban, and rural branches.

Understanding these rates before booking a locker can help customers choose a cost-effective and suitable option.

Importance of bank lockers

Bank lockers are widely used for the secure storage of valuables.

• Small lockers are typically used for documents and small items.

• Medium lockers are suitable for storing jewellery and personal valuables.

• Large lockers provide space for bulk jewellery or important family assets.

Comparing locker sizes, annual rent, and additional charges can help customers find the most affordable option.

HDFC Bank locker charges (from April 1, 2026)

At HDFC Bank, locker rent depends heavily on the branch location and locker size. GST is charged separately.

Very small lockers

• Metro Plus branches: ₹4,000 per year

• Metro branches: ₹3,300

• Urban and semi-urban branches: ₹2,200

• Rural branches: ₹1,000

Other locker sizes

• Small locker: ₹7,500 in Metro Plus branches, about ₹2,000 in village branches

• Medium locker: ₹12,500 in Metro Plus, about ₹4,000 in village branches

• Large locker: Up to ₹40,000 annually in Metro Plus branches, around ₹8,000 in rural areas

This makes HDFC lockers among the most expensive in premium urban locations.

SBI locker charges 2026

State Bank of India offers lockers from size A to L1.

Annual rent in metro and urban branches

• Small locker: ₹2,000 + GST

• Medium locker: ₹4,000 + GST

• Large locker: ₹8,000 + GST

• Extra-large locker: ₹12,000 + GST

Rural and small town branches

• Small lockers start from about ₹1,500 + GST

Additional benefits

Customers with salary package accounts can receive discounts:

• Platinum account: 25% discount

• Diamond account: 15% discount

SBI also provides 12 free locker visits per year. After that, each visit costs ₹100 + GST. Losing the locker key or breaking the lock may cost ₹500 to ₹1,000 plus GST.

ICICI Bank locker charges

Locker charges at ICICI Bank depend on both locker size and branch location, with rent paid annually in advance.

Small locker

• Rural: ₹1,200

• Small towns: ₹2,000

• Cities: ₹3,000

• Metro: ₹3,500

• Metro Plus: ₹4,000

Medium locker

• Rural: ₹2,500

• Metro Plus: up to ₹9,000

Large lockers

• Rural: ₹10,000

• Small towns: ₹15,000

• Cities: ₹16,000

• Metro: ₹20,000

• Metro Plus: ₹22,000

Extra-large lockers cost around ₹13,000 in metros and ₹15,000 in Metro Plus branches.

Which bank locker is the cheapest?

After comparing the charges of the three banks:

• SBI generally offers the lowest locker rent in metro and urban areas.

• ICICI Bank provides relatively competitive pricing in rural and small towns.

• HDFC Bank offers many locker size options but charges higher rates in premium branches, especially Metro Plus locations.

For customers prioritising affordability, SBI remains the most budget-friendly choice, while ICICI can be attractive in rural areas.