Starting in 2025, the Reserve Bank of India (RBI) is rolling out updated rules for bank lockers to make them safer and more transparent. These new regulations aim to give customers better security, clearer pricing, and improved locker services across the board.
One of the key changes involves how much you’ll pay for a locker, with fees now based on the locker’s size and location. There’s also a big focus on stronger security—think biometric checks, surveillance footage, and dual-key access. Plus, banks are now required to provide insurance coverage if a locker is damaged due to technical issues or natural disasters.
Overall, the new guidelines are designed to protect both your valuables and your peace of mind. If you’re planning to use a bank locker in 2025 or beyond, it’s important to understand what’s changing and how it affects you.
What’s Changing With Bank Lockers in 2025?
The RBI has made it clear: locker charges are no longer one-size-fits-all. The annual cost will now depend on both the size of the locker and whether it’s in a metro area. Here’s a quick breakdown of the new fee structure:
- Small lockers (6×6 inches): ₹1,500 to ₹3,000 per year
- Medium lockers (10×10 inches): ₹4,000 to ₹6,000 per year
- Large lockers (12×12 inches or bigger): ₹8,000 to ₹12,000 per year
If your locker is in a major city like Mumbai or Delhi, expect to pay around 20% more than these base rates.
Tighter Security to Protect Your Valuables
Security is getting a serious upgrade. From now on, you’ll need to go through biometric verification along with another form of authentication to access your locker. Banks are also required to keep video footage of every time a locker is opened. These measures are meant to prevent unauthorized access and help in case of any disputes or theft.
Dual-Key Access and Inactivity Rules
Under the new guidelines, both the customer and the bank will need to use their respective keys at the same time to open a locker. This adds an extra layer of protection.
Also, if you don’t use your locker for three consecutive years, the bank has the right to open it and inspect the contents. This rule helps prevent lockers from being misused or forgotten.
Mandatory Insurance for Locker Damage
Banks are now responsible for offering insurance coverage if your locker gets damaged because of technical issues or natural events like floods or fires. If something goes wrong, compensation will be paid based on the insurance policy held by the bank.
However, it’s important to know that you’re still responsible for insuring your own valuables—like jewelry or cash—if you want complete protection. The bank’s coverage won’t include theft or loss unless it’s due to their negligence or a system failure.
The new bank locker rules are clearly aimed at improving customer safety, transparency, and trust. While the costs have been standardized and security has been boosted, it also means users will need to be a bit more responsible and aware of how their lockers are being used.
If you already use a bank locker or are planning to get one, take some time to understand these updates. They’re designed to protect your valuables more effectively and ensure a smoother, more secure experience overall.
