HDFC Bank to increase locker rentals: Check new rates
What's the story
HDFC Bank is set to revise its safe deposit locker rental charges from April 1, 2026. The changes will see the introduction of a new "Metro Plus" branch category and increased fees for various locker sizes and locations. According to media reports, some rentals in metro and metro plus branches could rise by as much as 184% compared to current rates.
Fee details
Major hikes in medium and extra-medium lockers
The new fee structure will depend on the size of the locker and the classification of the branch. The Metro Plus category will be above the current metro, urban, semi-urban, and rural categories. For instance, medium-sized locker rates in metro branches are likely to jump from ₹4,000 to ₹10,000 per year while extra-medium lockers may increase from around ₹4,400 to ₹12,500 (excluding taxes).
Hike
New Metro Plus category to be introduced
The new Metro Plus category is expected to attract even higher charges than the existing Metro tier. The 18% Goods and Services Tax (GST) will continue to apply on top of the base rental fees, which are usually collected annually in advance. Customers renewing/taking new lockers after April 1 are likely to be subject to these revised charges.