The annual charge of safe deposit locker by State Bank of India has been made costlier by Rs. 500. The small locker rental charge for one year has now gone up to Rs 2,000. The extra-large locker will now get customers rs 12,000 instead of Rs 9,000. For medium lockers, customers will have to pay Rs 4,000 for a year. It has been 1,000 rupees costlier. The charge of large lockers for one year has become costlier by Rs 2,000, and its annual fee has gone up to Rs 8,000.
How much is locker registration fee
In addition, SBI also levies a one-time locker registration fee of Rs. 500 plus GST for small and medium-size lockers. While for large and XL lockers, the fee is Rs 1000 plus GST. If customers delay paying locker charges, one has to pay 40 percent as fine.
33 percent increase
SBI branches provide semi-urban and affordable locker services in rural areas. The customers for lockers pay from Rs 1,500 to Rs 9,000. Locker charges in SBI branches has been increased by 33 percent. Let us say that this new rate will be applicable only to Metro and urban cities. It does not include goods and Services Tax (GST).
The bank has permission to open lockers
According to the Reserve Bank of India (RBI) rules, if customers do not open their lockers at least once a year, banks are allowed to open your locker. Before doing so, the bank sends you a notice.
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