Banks provide locker facility to their customers to keep expensive things and important documents safe. They are also called safe deposits. There is a locker facility from public sector banks to private banks. To use a bank locker, customers have to pay annual rent to banks. If this rent becomes due, that is, it is not paid on time, then banks charge on it. Let’s take a look at how much is the charge on delay in payment of locker rents in the country’s three big banks SBI, PNB and Bank of Baroda (BoB)…
SBI
Lockers of small, medium, large and XL size are opened in SBI. Their annual rent ranges from Rs 1500 + GST to Rs 12000 + GST depending on the urban, semi-urban, rural and metro areas. SBI offers a 25 percent discount on locker rent on platinum variant accounts in case of salary package accounts. At the same time, the discount on the diamond variant account is 15 percent.
If the annual rent of SBI locker becomes due, then the charge for all types of locker types is as follows-
First quarter: 10 percent of locker rents
Second quarter: 20 percent of locker
Rents Third quarter: 30 percent of locker rents
1 year: 40 percent of locker rents
PNB
The annual rent of a safe deposit locker in Punjab National Bank ranges from Rs 1000 + GST to Rs 10000 + GST depending on rural, semi-urban, urban and metro areas. PNB also offers a discount on advanced locker rent. This exemption for staff is 75 percent. At the same time, for other customers, the discount in the locker rent varies according to the period.
- 1 year + 6 months and above: 2%
- 2 years: 5%
- 3 years: 10%
- 4 years: 15%
- 5 years: 20%
The charge levied by PNB on the delay of payment of locker rent is 10 per cent of the annual locker rent on the first quarter, 25 per cent on the second quarter, 40 per cent on the third quarter, 50 per cent on a year. At the same time, if the locker is rent due for more than a year, the locker will be broken.
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Bank of Baroda (BoB)
The annual rent for a locker at Bank of Baroda is like this.
Bank of Baroda is giving 10 percent discount to the general customer on paying 3 years locker rent in advance. At the same time, the rebate is 20 percent if the premium current account and premium current account privileges are provided to the locker rent in advance for 3 years or more.
Penalty due to late payment of locker rent in Bank of Baroda is as follows-
In case of locker rents up to Rs 3000 per annum: first three months Rs 200, then Rs 50 per month
In case of annual locker rent exceeding Rs 3000: first three months Rs 500, then Rs 100 per month.
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