PNB's diwali gift: Locker rent slashed, but new condition applies

New Delhi (The Uttam Hindu): If you are a Punjab National Bank (PNB) customer and use a bank locker, this news is very important for you. Just before Diwali, PNB has announced a significant reduction in locker rent, providing a major relief to its customers. According to a notice issued by the bank, the new rates were announced on October 16, 2025, and will come into effect after 30 days. This means that starting mid-November, customers will have to pay less rent for their lockers than before.

PNB has ensured that the benefits of this reduction reach customers across all segments, and therefore, this reduction in rent has been implemented in all areas, including rural, semi-urban, and urban. Under the new rates, the rent for a small locker in rural areas has been reduced from ₹1000 to ₹750, and for a medium locker from ₹2500 to ₹1900. Similarly, in semi-urban areas, the rent for a small locker will now be ₹1150 instead of ₹1500, and for a medium locker from ₹3000 to ₹2250. In a major relief to customers in urban and metro cities, the rent for a small locker has been reduced from ₹2000 to ₹1500, while for a medium locker it has been reduced from ₹4000 to ₹3000.

The bank has made another significant change for customer convenience. Customers will now be able to open their lockers 12 times per financial year, free of charge. If a customer uses the locker more than 12 times per year, they will be charged ₹100 for each additional visit. Customers will also be required to provide written consent to this condition when issuing new lockers.

PNB has also clarified that the bank reserves the right to break open a locker under certain circumstances. This action can be taken if a customer loses the keys and requests to have the locker opened. Additionally, a locker can be opened by a government or enforcement agency upon a court order. Furthermore, if a customer fails to comply with the rules or remains incommunicado with the bank for a prolonged period, the bank reserves the right to break open the locker after completing the notice process.

However, before breaking into the locker, the bank will send the customer three notices via letter, email, and SMS. If contact is still not made, a public notice will be published in newspapers, giving the customer an additional 15 days.