PNB Locker Charges Hiked from October 1, Punjab National Bank (PNB) has officially revised its locker charges across multiple categories. Customers who rent lockers at PNB branches will now have to pay higher annual fees depending on locker size and location. If you’re planning to open a bank locker or already use one, here’s a detailed look at the new rates and how they compare with other major banks in India.
PNB Locker Charges Revised from October 1
According to the latest circular issued by Punjab National Bank, the new locker rents vary for rural, semi-urban, urban, and metro branches. For smaller lockers, the rent has gone up by around ₹200 to ₹300 annually, while larger lockers in metro cities have seen an increase of up to ₹500. For instance, a small locker that previously cost ₹1,250 in a semi-urban area now costs around ₹1,500. Similarly, medium and large lockers in urban branches have moved from approximately ₹3,500 to ₹4,000 per year.
Alongside the rent hike, PNB has also revised one-time registration and service charges. Rural branches continue to offer the lowest locker rent in the network, but customers in metro areas like Delhi, Mumbai, and Chennai will now pay noticeably more.
Why Banks Are Increasing Locker Charges
Industry experts explain that locker rent revisions are linked to rising operational and security costs. Maintaining high-security infrastructure, digital monitoring, and insurance coverage requires substantial expenses for banks. With more customers preferring larger lockers to store documents, jewelry, and valuables, periodic rent adjustments have become inevitable.
Furthermore, the Reserve Bank of India (RBI) guidelines on locker safety issued in recent years have made banks invest heavily in upgraded vault systems, digital record-keeping, and customer verification mechanisms — all of which contribute to the cost increase.
How PNB Compares with Other Banks
PNB’s new rates remain competitive when compared with both public and private sector banks. State Bank of India (SBI) currently charges around ₹1,500 per year for small lockers in urban branches, while HDFC Bank lockers begin at ₹1,100 in smaller towns and go up to ₹3,000–₹4,500 in metro areas. ICICI Bank and Axis Bank have similar pricing, with metro branches being the most expensive.
In summary, even after the hike, PNB remains one of the most affordable locker providers among large public-sector banks. Customers in smaller cities and semi-urban branches still benefit from comparatively low annual rents.
| Bank | Small Locker (Urban) | Medium Locker (Metro) | Large Locker (Metro) |
|---|---|---|---|
| PNB | ₹1,500 | ₹4,000 | ₹7,500 |
| SBI | ₹1,500 | ₹4,200 | ₹7,800 |
| HDFC Bank | ₹1,100 | ₹3,500 | ₹7,000 |
| ICICI Bank | ₹1,300 | ₹3,800 | ₹7,200 |
(Approximate rates before GST; actual prices vary by branch category)
What You Should Do as a Customer
If you already have a PNB locker, check your next renewal date and confirm the new applicable rent at your branch. You may also want to explore locker options at nearby banks to compare costs and availability. Many banks now allow customers to apply online for locker waiting lists, and some offer discounts for priority or premium account holders. Before renting a locker, ensure you understand all the conditions, including rent payment, safety protocols, and compensation policies for loss or damage.
Conclusion: The increase in PNB locker charges from October 1, 2025, marks another revision in banking service fees as institutions adapt to higher operational costs and new RBI compliance requirements. While the revised rates mean a slightly higher annual expense, customers can still find value by choosing the right locker size and location. Comparing different banks can help you pick the most cost-effective and convenient option for your valuables.
Disclaimer: Locker rents mentioned are approximate and may vary across branches based on size, location, and category. All information is sourced from recent public disclosures by respective banks as of October 2025. Customers should verify exact charges with their local branch before booking or renewing a locker.
