Central Bank of India is now widely known as RBI which is the Reserve Bank of India established in the early twentieth century in 1911. Out of 29 states, today RBI is in 27 states in total and 4 union territories. The central bank is now supported by 3,656 branches and 178 extension counters nationwide.
A central bank is a public institution whose main purpose is to manage the currency of a country and control the money supply. It works on the sole objective of monetary stability. Like any other bank, the central bank has a locker facility for its customers to keep their belongings safe. Below are all the details you should know about the central bank locker facility.
Central Bank Locker Charges
The locker charges of the Central Bank are different from one another because they are different in size and the location (rural/semi-urban and urban/metro) of the bank. The charges for lockers are payable on an annual basis and there are in total eight sizes available as of now. Below is the list of charges payable for different sizes of lockers in the Central Bank.
- Small A: To rent the group I locker in Central Bank the customer has to pay INR 11000 in rural, INR 1600 in urban/semi-urban locations and INR 2000 in any metro location of the Central Bank.
- Small B: To rent the group II locker in Central Bank the customer has to pay INR 1500 in rural, INR 2100 in urban/semi-urban locations and INR 2500 in any metro location of the Central Bank.
- Medium C: To rent the group III locker in Central Bank the customer has to pay INR 2000 in rural, INR 3000 in urban/semi-urban locations and INR 4000 in any metro location of the Central Bank.
- Medium D: To rent the group IV locker in Central Bank the customer has to pay INR 2000 in rural, INR 3000 in urban/semi-urban locations and INR 4000 in any metro location of the Central Bank.
- Medium H-1/E: To rent the group V locker in Central Bank the customer has to pay INR 3000 in rural, INR 4000 in urban/semi-urban locations and INR 5000 in any metro location of the Central Bank.
- Large F/G: To rent the group VI locker in Central Bank the customer has to pay INR 4500 in rural, INR 6000 in urban/semi-urban locations and INR 7000 in any metro location of the Central Bank.
- Ex-Large H/L-1: To rent the group VII locker in Central Bank the customer has to pay INR 6000 in rural, INR 8000 in urban/semi-urban locations and INR 9000 in any metro location of the Central Bank.
- Ex-Large L: To rent the group VIII locker in Central Bank the customer has to pay INR 8000 in rural, INR 10000 in urban/semi-urban locations and INR 11000 in any metro location of the Central Bank.
Central Bank Locker Rent Charges Table
| Locker Size and Category | Locker Rent Charges (Metro) | Locker Rent Charges (Urban/Semi-Urban) | Locker Rent Charges (Rural) |
|---|---|---|---|
| Small A | Rs. 2000 | Rs. 1600 | Rs. 1100 |
| Small B | Rs. 2500 | Rs. 2100 | Rs. 1500 |
| Medium C | Rs. 4000 | Rs. 3000 | Rs. 2000 |
| Medium D | Rs. 4000 | Rs. 3000 | Rs. 2000 |
| Medium H-1/E | Rs. 5000 | Rs. 4000 | Rs. 3000 |
| Large F/G | Rs. 7000 | Rs. 6000 | Rs. 4500 |
| Ex-Large H/L-1 | Rs. 9000 | Rs. 8000 | Rs. 6000 |
| Ex-Large L | Rs. 11000 | Rs. 10000 | Rs. 8000 |
Penalty for delayed payment of locker rent
| Quarter | Overdue Charge |
|---|---|
| 1st Quarter | 10% of annual rent |
| 2nd Quarter | 25% of annual rent |
| 3rd Quarter | 40% of annual rent |
| 1 Year | 50% of annual rent |
| for more than 1 Year | locker to be broken |
One-time Locker registration charges
| Area | Charges |
|---|---|
| Rural /Semi | Rs. 300 |
| Urban/Metro | Rs. 500 |
Table Updated: 28 January 2024
Benefits Of Central Bank Locker System
It is difficult to keep your valuable belongings like diamond and gold jewellery, important papers like house papers, loan papers, property papers, agreement papers, insurance, etc at home with so much risk. The central bank of India has locker facilities for its customers which are known to be India’s safest and most trustworthy bank.
- The Central Bank of India keeps all your precious belongings like jewellery, and important and confidential papers safe.
- Bank provides its customers with a locker facility with the two-three levels of security no one can cross, except you and the person (manager) accompanying you.
- You don’t have to travel too far from your home because you can easily find locker facilities at your nearest branch.
- Locker facility is given to individuals, partnership firms, clubs and companies. And only people who are registered can get inside the locker.
Important Terms Of Central Bank Of India For Locker Holders
There are a few terms and conditions for people looking to rent a locker in the Central Bank of India that each one of them has to obey.
- The rent is payable annually on time unless the interest is payable as a penalty.
- The rent of your locker is based on the size and location of the bank branch where you held the locker.
- There are one-time non-refundable charges that the customer has to pay in all centres.
- To rent a locker the customer has to submit their KYC documents along with the application form.
Conclusion
The Central Bank of India is one of the trusted banks in India. If you are thinking about renting a locker in the Central bank you need to first have an account in the central bank and then only you can proceed with renting a safe locker.
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