Indian Overseas Bank · 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
Locker type and branch-location category — Public customer
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Type A — Rural/Semi Urban | ₹1,500 | ₹1,770 |
| Type A — Urban/Metro | ₹2,000 | ₹2,360 |
| Type B — Rural/Semi Urban | ₹2,000 | ₹2,360 |
| Type B — Urban/Metro | ₹2,500 | ₹2,950 |
| Type C — Rural/Semi Urban | ₹3,000 | ₹3,540 |
| Type C — Urban/Metro | ₹3,500 | ₹4,130 |
| Type D — Rural/Semi Urban | ₹3,200 | ₹3,776 |
| Type D — Urban/Metro | ₹4,000 | ₹4,720 |
| Type E — Rural/Semi Urban | ₹4,000 | ₹4,720 |
| Type E — Urban/Metro | ₹4,500 | ₹5,310 |
| Type F — Rural/Semi Urban | ₹5,000 | ₹5,900 |
| Type F — Urban/Metro | ₹6,500 | ₹7,670 |
| Type G — Rural/Semi Urban | ₹5,500 | ₹6,490 |
| Type G — Urban/Metro | ₹8,000 | ₹9,440 |
| Type H — Rural/Semi Urban | ₹6,000 | ₹7,080 |
| Type H — Urban/Metro | ₹9,000 | ₹10,620 |
| Type H1 — Rural/Semi Urban | ₹4,000 | ₹4,720 |
| Type H1 — Urban/Metro | ₹5,000 | ₹5,900 |
| Type K — Rural/Semi Urban | ₹5,200 | ₹6,136 |
| Type K — Urban/Metro | ₹9,000 | ₹10,620 |
| Type L — Rural/Semi Urban | ₹8,000 | ₹9,440 |
| Type L — Urban/Metro | ₹10,000 | ₹11,800 |
| Type L1 — Rural/Semi Urban | ₹8,000 | ₹9,440 |
| Type L1 — Urban/Metro | ₹10,000 | ₹11,800 |
| Type L2 — Rural/Semi Urban | ₹5,000 | ₹5,900 |
| Type L2 — Urban/Metro | ₹9,200 | ₹10,856 |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: Public-customer annual locker rent, charged annually in advance. Source states the rent cycle is October–September and collected on 1 October. Separate product-specific locker-rent concessions exist and are not baked into this base matrix.
Retail Banking Service Charges · Branch
Locker type and branch-location category — Staff/Ex-Staff
| Rate | Bank’s figure | With 18% GST |
|---|---|---|
| Type A — Rural/Semi Urban | ₹1,000 | ₹1,180 |
| Type A — Urban/Metro | ₹1,200 | ₹1,416 |
| Type B — Rural/Semi Urban | ₹1,100 | ₹1,298 |
| Type B — Urban/Metro | ₹1,400 | ₹1,652 |
| Type C — Rural/Semi Urban | ₹1,200 | ₹1,416 |
| Type C — Urban/Metro | ₹1,700 | ₹2,006 |
| Type D — Rural/Semi Urban | ₹1,400 | ₹1,652 |
| Type D — Urban/Metro | ₹1,800 | ₹2,124 |
| Type E — Rural/Semi Urban | ₹1,600 | ₹1,888 |
| Type E — Urban/Metro | ₹2,200 | ₹2,596 |
| Type F — Rural/Semi Urban | ₹2,000 | ₹2,360 |
| Type F — Urban/Metro | ₹2,800 | ₹3,304 |
| Type G — Rural/Semi Urban | ₹2,100 | ₹2,478 |
| Type G — Urban/Metro | ₹2,800 | ₹3,304 |
| Type H — Rural/Semi Urban | ₹3,000 | ₹3,540 |
| Type H — Urban/Metro | ₹4,600 | ₹5,428 |
| Type H1 — Rural/Semi Urban | ₹1,600 | ₹1,888 |
| Type H1 — Urban/Metro | ₹2,000 | ₹2,360 |
| Type K — Rural/Semi Urban | ₹3,700 | ₹4,366 |
| Type K — Urban/Metro | ₹5,700 | ₹6,726 |
| Type L — Rural/Semi Urban | ₹3,600 | ₹4,248 |
| Type L — Urban/Metro | ₹5,600 | ₹6,608 |
| Type L1 — Rural/Semi Urban | ₹3,200 | ₹3,776 |
| Type L1 — Urban/Metro | ₹4,900 | ₹5,782 |
| Type L2 — Rural/Semi Urban | ₹3,500 | ₹4,130 |
| Type L2 — Urban/Metro | ₹5,500 | ₹6,490 |
The bank's figure is before tax, so 18% GST is added on top.
Applies when: IOB Staff/Ex-Staff annual locker rent, charged annually in advance.
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.