Bank of Baroda · statement narration
LOCKER RENT
Annual rent for a safe deposit locker. The amount depends on locker size and whether the branch is metro, urban, semi-urban or rural.
In plain English
Annual rent for a safe deposit locker. The amount depends on locker size and whether the branch is metro, urban, semi-urban or rural.
Also printed as LOCKER CHARGES, SAFE DEPOSIT RENT, LOCKER RENT CHG.
Hinglish mein
Safe deposit locker ka saalana kiraya. Locker ke size aur branch ke area ke hisaab se alag hota hai.
What it costs, including GST
Retail Banking Service Charges · Branch
A — Metro/Urban: ₹1,500.00 · A — Semi-Urban/Rural: ₹900.00 · B — Metro/Urban: ₹2,000.00 · B — Semi-Urban/Rural: ₹1,000.00 · D — Metro/Urban: ₹2,800.00 · D — Semi-Urban/Rural: ₹1,500.00 · C — Metro/Urban: ₹3,000.00 · C — Semi-Urban/Rural: ₹1,700.00 · E/H-1 — Metro/Urban: ₹4,000.00 · E/H-1 — Semi-Urban/Rural: ₹2,200.00 · G — Metro/Urban: ₹7,000.00 · G — Semi-Urban/Rural: ₹5,500.00 · F — Metro/Urban: ₹7,000.00 · F — Semi-Urban/Rural: ₹5,500.00 · H — Metro/Urban: ₹7,000.00 · H — Semi-Urban/Rural: ₹5,500.00 · L1 — Metro/Urban: ₹10,000.00 · L1 — Semi-Urban/Rural: ₹8,000.00 · L — Metro/Urban: ₹10,000.00 · L — Semi-Urban/Rural: ₹8,000.00
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Annual locker rent excluding GST. Same section lists: breaking open of locker Rs 1000 incidental over actual cost; late-payment penalty Rs 200 for first 3 months then Rs 50 p.m. where annual rent is up to Rs 3000, and Rs 500 then Rs 100 p.m. above Rs 3000; 10% discount on 3-year advance rent for general public and 20% for Premium Current Account / Premium Current Account Privilege customers; operations beyond 12 a year at Rs 100 per occasion for general public; advance rent accepted for a maximum of three years.
Why it happened
Annual locker rent fell due on your locker.
How to avoid it
Rent cannot be avoided while you hold the locker, but paying three years in advance earns a 10% discount for general customers. Late payment adds a further penalty, so pay on the due date.