State Bank of India, the biggest public sector bank in the nation, has extended a special message to clients who have lockers at the bank. Locker owners are urged to visit their local branch as soon as possible to sign the updated locker agreement, as requested by the bank. By tweeting about the updated locker agreement, the bank has informed its clients that they are urged to visit the branch as soon as possible to sign it. Before signing, the customer must read the updated agreement notice.
Banks have received a locker circular from the RBI.
By June 30, 2023, all banks must sign new agreements with at least 50% of their locker holders, according to a directive from the Reserve Bank. At the same time, the new locker agreement should be signed by 75% of consumers by September 30 and by 100% of customers by December 31. Additionally, customers of all banks have been urged to inform them of the specifics of the new contract. On the effective RBI portal, all banks must additionally update the status of their locker arrangement.
How much would SBI clients be required to pay the fee?
For SBI customers, the locker's size and location will significantly impact the fee. For small and medium-sized lockers, SBI charges Rs 500 plus GST individually. On the other hand, a larger locker requires a registration cost of Rs. 1000 plus GST.
Be aware of the cost and size of the locker rental fees in different places.
>> If you want to use an SBI compact locker in an urban or major city, you must pay 2,000 plus GST.
>> On the other hand, 1,500 additional GST fees will need to be paid for a tiny locker in a small city or rural location.
>> On the other hand, Rs 4,000 plus GST must be paid to obtain an SBI medium-sized locker in an urban or metro area.
>> On the other hand, you must pay Rs 3,000 plus GST to rent a medium-sized locker in a small town or rural area.
>> Customers in large and metropolitan areas must pay Rs 8,000 + GST fees for SBI's big-size locker.
>> Conversely, you would need to pay a fee of Rs 6,000 + GST in small and rural cities.
>> For the largest SBI locker in major or metro areas, 12,000 plus GST will be required.
>> In contrast, you must pay Rs 9,000 + GST in rural and small-town areas.
