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You have to first open a savings account with the bank. Apart from this, you have to draw an agreement on a stamp paper which will cost you Rs 150- 250.Cost Factor:
The rates vary according to the size and the location of the branch. For instance, a 5 x 6 x 21 inches small locker at Canara Bank will cost Rs 700 annually, but if you want a bigger locker (16 x 20 x 21 inches) you will have to shell out
Rs 3,500 annually. There is a difference in rates between private and public sector banks. While Punjab National Bank charges Rs 3,000 for a large locker, CitiBank charges Rs 40,000 for its largest locker. By Aamir Mannan.
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