SBI Releases New Guidelines and Locker Charges for 2023

The State Bank of India or SBI has revised its guidelines and charges for locker holders. The bank has notified the customers to visit the branch to sign a new locker agreement and confirm the new terms and conditions. This is being done by SBI to comply with the order passed by RBI or The Reserve Bank of India.

SBI Releases New Guidelines and Locker Charges for 2023

“Bank has issued a revised/supplemental locker agreement incorporating the customer’s rights. Customers availing locker facilities from SBI are requested to contact their locker holding branch and execute the revised/ supplement locker agreement as applicable,” tweeted SBI with its official account.

RBI’s Orders and New Locker Guidelines From SBI

RBI had instructed all the major banks to get new locker agreements signed by at least 50 percent of customers by June 30. Moreover, 75 percent of signature work should be completed by September 30 and should reach 100 percent by December 31st, as directed by RBI to all the major banks across the country. Furthermore, the banks are also liable to provide efficient reports on RBI’s official portal.

SBI’s Locker Charges

SBI customers should know that the locker charges will be applicable as per the size and location of the locker. So, small to medium-sized lockers will attract ₹500 charges + GST. And in the case of large-sized high-security lockers, the registration fee is ₹1,000 + GST.

Also read:

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Read the Locker Charges Varying As Per City and Size

  • In metro cities, if you opt for small-sized lockers then you will have to pay ₹2,000 + GST.
  • In rural areas, customers opting for small lockers will have to pay ₹1,500 + GST.
  • ₹4,000 + GST is to be paid by the customers who want medium size lockers in both rural and metro cities.
  • Medium-sized lockers in small towns and rural areas will attract ₹3,000 + GST charges.
  • For large-sized lockers, the customers of metro cities will have to pay Rs 8,000 + GST.
  • The same large-sized lockers in small towns or rural areas will attract ₹6,000 + GST.

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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