If you’re planning to rent a safe deposit locker to store valuables like jewellery or important documents, the annual rental (locker charge) matters a lot — especially in Metro and Urban locations where prices can be high. In 2026, charges vary widely among banks based on locker size and branch location.
🏦 1. sbi Locker Charges (2026)
The State bank of india (SBI) generally offers relatively lower locker rents compared with many private banks, especially for small and medium sizes:
Annual Rent (Excluding GST)
Locker Size
Urban & Metro
Semi‑Urban & Rural
Small
₹2,000
₹1,500
Medium
₹4,000
₹3,000
Large
₹8,000
₹6,000
Extra Large
₹12,000
₹9,000
➤ sbi also offers rent concessions for salary account holders — e.g., 25% off for Platinum and 15% off for Diamond account holders.
💼 2. hdfc bank Locker Charges (2026)
HDFC bank has significantly revised (higher) locker charges effective from April 1, 2026, including a new “Metro Plus” category that increases rents further, especially in metro areas:
Annual Rent (Metro / Urban / Rural)
Locker Size
Metro
Urban
Rural
Extra Small
₹3,300
₹2,200
₹1,000
Small
₹5,000
₹4,000
₹2,000
Medium
₹10,000
₹7,500
₹4,000
Extra Large
₹20,000
₹15,000
₹8,000
➤ HDFC’s charges are higher than SBI’s across most categories, especially for medium and large lockers.
🧾 3. icici bank Locker Charges (2026)
For comparison, ICICI Bank also offers lockers, and their rent falls generally between sbi and HDFC:
Annual Rent (Various Locations)
Locker Size
Rural
Semi‑Urban
Urban
Metro
Metro+
Small
₹1,200
₹2,000
₹3,000
₹3,500
₹4,000
Medium
₹2,500
₹5,000
₹6,000
₹7,500
₹9,000
Large
₹4,000
₹7,000
₹10,000
₹13,000
₹15,000
Extra Large
₹10,000
₹15,000
₹16,000
₹20,000
₹22,000
🧠 4. So, Which bank Is Cheapest in 2026?
✔️ SBI is generally the most economical choice for most locker sizes in Urban and Metro branches, especially small and medium lockers. Rental is significantly lower than HDFC’s in similar locations.
✔️ ICICI bank offers competitive rates in some rural or semi‑urban locations, sometimes cheaper than hdfc and close to sbi for smaller sizes.
✔️ HDFC bank tends to be more expensive overall, especially for medium to large lockers and in metro locations due to recent hikes and the new Metro Plus category.
📊 Quick Comparison (Urban / Metro)
Bank
Small Locker
Medium Locker
Large Locker
SBI
Most Affordable
Most Affordable
Competitive
ICICI Bank
Low to Medium
Medium
Higher
HDFC Bank
Highest
Highest
Highest
📝 Things to Consider Before Renting
✔️ GST (18%) is added on top of the rental charges.
✔️ Banks may charge extra for locker visits, late fee penalties, or registration fees.
✔️ Availability varies by branch; sometimes banks ask customers to maintain FDs or higher balances for priority access.
📌 Final Verdict
- If cost is the main factor, SBI remains the cheapest option in 2026 for most locker sizes in urban and metro branches.
- ICICI bank can be competitive in lower locations and for small lockers.
- HDFC bank, while offering varied sizes and services, tends to be the most expensive, especially in prime locations.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.
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