New Delhi: Punjab National Bank (PNB) customers are in for a financial jolt starting October 1, 2025, as the bank is all set to revise and increase charges on multiple services, including locker rentals, auto-debit penalties, and more.
The most notable hike is in locker charges, especially for large-sized lockers, which could disrupt the budgets of families, traders, and jewellers who rely heavily on these services.
Locker Charges See Steep Hike
PNB has significantly increased locker charges across all regions. Here’s a breakdown of the new large locker rental rates:
- Rural areas: ₹2,500 → ₹4,000 (60% increase)
- Semi-urban areas: ₹3,000 → ₹5,000
- Urban areas: ₹5,500 → ₹6,500
- Metro cities: ₹5,500 → ₹7,000
Large lockers are typically used by businessmen, jewellers, and large families, making this hike particularly impactful for them.
Medium Lockers Also Get Costlier
The most commonly used medium-sized lockers are also seeing noticeable hikes:
- Rural areas: ₹2,200 → ₹2,500
- Semi-urban areas: ₹2,500 → ₹3,000
- Urban/Metro: ₹3,500 → ₹4,000
This translates to an approximate 14–20% increase, affecting a large number of customers.
Small Lockers – Minimal Impact
There’s some relief for customers using small lockers:
- Rural areas: No change, remains at ₹1,000
- Semi-urban areas: ₹1,250 → ₹1,500
- Urban/Metro: No change, remains at ₹2,000
So, those with smaller lockers won’t feel the pinch as much.
Other Banking Charges Also Revised
Locker fees aren’t the only change — PNB has also revised fees for other banking services:
- Standing Instruction (SI) Failure: If auto-debits like EMIs or SIPs fail due to insufficient balance, the penalty charges will be higher.
- Nomination Fee and Payment Instruction Charges have also been increased.
Why the Hike?
PNB justified the changes by pointing to rising costs:
- Operational costs have increased significantly.
- There’s a higher investment in technology and security systems.
- Staff salaries and other administrative expenses are also on the rise.
The bank claims that in order to maintain secure and efficient services, these fee adjustments were necessary.
What Should Customers Do?
- If you already have a locker, check your renewal date.
Lockers renewed before October 1, 2025, will still be charged under the old rates for one more year. - If your large locker is underused, consider downgrading to a medium or small locker to save costs.
- New customers should compare locker fees, security, and service quality across different banks before signing up.
Impact on Customers and What Lies Ahead
This change is likely to affect middle-class households, small businesses, and especially jewellers who store valuables in lockers. With fees going up, many customers may consider switching to other banks offering better rates — although locker transfers are often cumbersome.
⚠️ Disclaimer: This report is based on publicly available information. For exact details and updates, customers are advised to contact their nearest PNB branch or visit the official website.