Most of the big banks provide locker facility to their customers in some branches, in which fees are applicable depending on the location and size of the locker. Many banks including SBI, Canara Bank, HDFC have changed the rental rates for lockers. At the same time, the RBI has already set a deadline for the banks to get the signatures of the customers on the revised locker agreement before June 30.

HDFC Bank Locker Charges

HDFC Bank levies locker fees which can range from Rs 1350 to Rs 20,000 per annum depending on the size, availability and locations of the lockers. It is generally charging annual charges of Rs 3,000 for medium lockers, Rs 7,000 for large lockers and Rs 15,000 for XL lockers in metro and urban locations.

ICICI Bank Locker Charges

ICICI Bank charges between Rs 1,200 to Rs 5,000 for small size lockers. For medium sized lockers, bank charges vary between Rs 2,500-9,000 and for large ones the charges vary between Rs 4,000-15,000.

Yes Bank Locker Charges

Yes Bank charges its customers Rs 4,500 to Rs 32,000 for different sizes of lockers.

Canara Bank Locker Charges

The one-time locker registration charge for Canara Bank customers is Rs.400 plus GST. Service charges for locker operations are free up to 12 per year and thereafter Rs 100 per operation plus GST charges as applicable.

SBI Locker Rent Latest Rates

SBI offers 3 types of lockers to its customers and all three have different rates. The bank charges Rs 2000+GST for metro and urban customers and Rs 1500+GST for rural and semi-urban customers as fare.

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The interest rate on savings accounts is calculated on the basis of daily closing balance. Depending on the bank rules, interest is credited to the account holder’s account monthly or quarterly. The interest rate depends on the amount in the savings account.

Interest rates on Savings Account Interest Rates differ from bank to bank. However, if you have a significant amount, then by investing it in FD, you can take advantage of a much higher interest rate than the savings interest. The interest rate is guaranteed along with the amount in FD.

State Bank of India ( SBI Saving Interest rates)

interest rate is 2.70 per cent for savings accounts with balance up to Rs 10 crore and 3 per cent for balance above Rs 10 crore.

HDFC Bank ( HDFC Saving Interest rates)

The interest rate on savings accounts in HDFC Bank is 3 per cent for balances below Rs 50 lakh and 3.50 per cent for balances above Rs 50 lakh.

ICICI Bank ( ICICI Bank Saving Rates)

at the end of the day the interest rate on the balance of less than Rs 50 lakh will be 3 percent. At the end of the day, the balance of more than Rs 50 lakh will have an interest rate of 3.5 percent.

PNB ( PNB Saving Interest Rates)

Punjab National Bank gives 2.70 per cent interest rate on the balance of less than Rs 10 lakh. Pays an interest rate of 2.75 per cent on account balances of less than Rs 10 lakh to Rs 100 crore. PNB gives 3% interest on account balance of Rs 100 crore and above.

Canara Bank Saving Rates

Canara Bank offers interest rates between 2.90 per cent to 4 per cent for various amounts. A maximum amount of 4% is paid on the balance amount of Rs.2000 crores.

How much tax is applicable on the interest amount received from savings account?

Under Section 80TTA of the Income Tax Act, interest earned on savings bank account is tax free up to Rs 10,000. If the interest received from these sources exceeds Rs 10,000, then the excess interest on the savings account will be taxable. For senior citizens, the amount received from savings accounts is limited to Rs 50,000, the amount above which will be taxable.

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Banks are offering good interest to senior citizens along with regular customers. Some banks are giving annual interest of up to 8.50 percent on FD. Let us know about the interest rate of five banks- Axis Bank is offering 6.75% for one year, 7.26% for two years and 7.00% for 3 years. Senior citizens are being given additional interest of 0.75% for all the three tenures.

Bandhan Bank has offered an interest rate of 7.25% for one year, 8.00% for 600 days, 7.25% for 2 years and 3 years. For senior citizens, additional interest of 0.50% is being given in every tenure.

RBL Bank is offering 7.00% for one year, 7.80% for 725 days, 7.00% for 2 years and 3 years. 0.50% additional interest is being offered by the bank for senior citizens.

IDFC First Bank is offering 6.75% interest for one year, 7.25% for 2 years and 7.75% for 3 years. 0.50% additional interest is being offered by the bank on all the three tenures.

DCB Bank is offering 7.25% interest for one year FD, 8.00% for 2 years and 7.60% for 3 years. DCB is also offering an additional interest of 0.50% on all the three tenures.

(Note: These interest rates have been taken from the official website of the banks. Rates are effective for deposits below Rs 2 crore.)

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