Bank of India · statement narration
LOCKER RENT
Annual rent for a safe deposit locker. The amount depends on locker size and branch location.
In plain English
Annual rent for a safe deposit locker. The amount depends on locker size and branch location.
Also printed as LOCKER CHARGES, SAFE DEPOSIT RENT, LOCKER RENT CHG, SDV RENT.
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
Annual locker rental charges based on safe deposit box dimensions (Small Rs900, Medium Rs1,800, Large Rs2,700). Applicable GST extra.
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Small Box (10x10x10 cm) | ₹900 | ₹1,062 |
| Medium Box (20x20x20 cm) | ₹1,800 | ₹2,124 |
| Large Box (30x30x30 cm) | ₹2,700 | ₹3,186 |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Bank of India safe deposit lockers. Advance annual collection.
Why it happened
Annual locker rent fell due on your locker.
How to avoid it
Paying several years in advance often earns a discount. Late payment adds a penalty, so pay on the due date.