Introduction
Punjab National Bank (PNB), one of India’s most trusted public sector banks, has started the new financial quarter with critical changes to its service charges, locker rents, and compliance norms, effective October 1, 2025. PNB Banking charges for millions of urban, semi-urban, and rural customers, these updates mean a fresh look at locker costs, instructions for cheque stopping, and new mechanisms to avoid penalty fees. The changes reflect RBI’s directive for greater transparency in service charges and safe deposit operations.
This blog provides a comprehensive breakdown of what’s changing, how it affects everyday account holders, and tips for seamless banking amid evolving rules.
Why Are The Charges Changing?
Three major trends are pushing banks to revise service fees:
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RBI’s periodic reviews call for banks to match locker charges and other fees with inflation, security upgrades, and service costs.
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The need to streamline customer experience and harmonize charges across bank locations.
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Demand for digital and automated solutions requires banks to recoup technology investments, partly through service charge adjustments.
For PNB, these October 2025 changes embody regulatory compliance and competitive benchmarking.
Revised Locker Charges: What’s New?
PNB offers secure lockers of multiple sizes to individuals, businesses, and organizations. Its network spans rural, semi-urban, urban, and metro branches. As of October 1, 2025:
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Locker Balances: Charges are rising in almost all categories except three rural segments, reflecting added security systems and branch upgrades.
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Semi-Urban Branches: Locker charges are now higher in all five categories. For example:
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Small locker: was Rs 1,250, now Rs 1,450 per year.
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Medium locker: increased by Rs 300.
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Large/extra-large lockers: hikes range from Rs 400 to Rs 750 annually.
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Urban and Metro Cities: Four locker categories see distinctive hikes, up to Rs 1,200 higher than 2024 rates.
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No-Change Zones: Three rural locker types retain previous charges to support India’s financial inclusion drive.
Stop Payment Instruction Charges
Customers routinely issue “stop payment” orders for lost, stolen, or disputed cheques:
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The fee for a single cheque stop payment remains unchanged at Rs 100.
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Bulk stop payment requests—covering three or more cheques—previously charged at Rs 300 now see a revised threshold: as of October 1, only stop payment requests for five or more cheques in a series will incur a larger Rs 500 fee.
This adjustment seems aimed at balancing operational costs without penalizing occasional stop payment users.
Standing Instruction (SI) Failure Charges
Standing instructions (SI) automate routine banking tasks like bill payments and fund transfers. Earlier, SI failures resulted in a small penalty charged per failed transaction. Now, PNB has replaced this with a flat monthly fee for SI failures, making it easier for customers to track and budget for these expenses instead of worrying about unpredictable fee accumulation.
Nomination and Registration Charges
PNB customers must also note small revisions to registration and nomination fees (for locker and account nomination changes), effective alongside the new locker and service charge matrix.
The Rationale Behind the Changes
Bank representatives cite several reasons for the hikes:
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Inflation and rising insurance/security costs.
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Digital upgrades (branch cameras, automated locker systems, SMS alerts).
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RBI compliance requiring uniform charges for locker rentals and safety norms, especially following recent directives on bank locker agreements.
These changes ensure continued access to safer locker facilities, digital alerts, and mediations in case of disputes.
Impact on Different Customers
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Urban/Metro Clients: Higher locker rates, but access to enhanced digital and security services.
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Semi-Urban Customers: Locker hikes and revised SI/stop payment structures mean careful budgeting is needed for active locker and cheque users.
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Rural Customers: Largely unaffected for locker rates but may see small changes in SI fees.
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Bulk Transaction Users: Businesses handling multiple cheques monthly need to assess the new thresholds for stop payment orders.
How to Minimize Charges
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Audit Locker Usage: Decide if current locker size matches needs and consider downgrading if usage is irregular.
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Timing Bulk Payments: For stop payment, batch smaller quantities where possible.
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Monitor SI Failures: Update SI mandates to avoid fee accumulation.
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Verify Fees Regularly: Use PNB digital tools or visit branches for updated charge lists.
RBI’s Locker Agreement Norms
The October 2025 update coincides with changes in RBI locker agreement rules. All customers must sign revised locker contracts compliant with the RBI’s guidelines for access protocols, dispute resolution, and transparency of charges. Failure to update agreements may mean restricted access to lockers from 2026 onwards.
IFSC Code and Branch Impact
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Locker and other service charges often differ based on the branch’s location, which is determined using IFSC codes; urban branches coded with specific IFSC designations may attract higher fees, especially for larger lockers and additional digital services.
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Customers should verify their branch IFSC code before budgeting for locker fees post October 2025.
Frequently Asked Questions (FAQs)
Q: Will all locker holders pay more this year?
Not in all cases. Rural and some semi-urban branches maintain old rates on smaller lockers.
Q: Are there penalties for not updating locker agreements?
Yes, access may be restricted after the RBI grace period ends in 2026.
Q: Can SI failure fees accumulate fast?
No, the flat monthly rate controls total costs, making budgeting easier.
Customers’ Reactions and Advice
Reactions are mixed. Urban and high-value customers appreciate the security and digitization, but some express concern over rising costs. Rural users welcome fee stability as a sign of inclusive banking. Industry experts expect other banks to follow PNB’s lead on SI charges and bulk stop payment thresholds, positioning PNB as a trendsetter.
Conclusion
PNB’s October 2025 update on locker charges, stop payment, SI failure, and nomination fees reflects a new era of transparent, secure, and digitized banking. Customers who understand these shifts—and adjust their routines—will maximize value and minimize costs in India’s evolving financial landscape.