These bank lockers are spaces for securing valuables such as jewellery and documents. Millions in India depend on these lockers for their safety. The Reserve Bank of India, or RBI, issued some updated rules regarding lockers in 2025. According to these changes, security and transparency are augmented.
Why New Rules in 2025?
The RBI brought in the 2025 rules to instill more confidence in customers regarding lockers. Starting June 1, 2025, these guidelines will deal with issues related to security and liability. They have their jurisdiction in both public and private banks. The idea is to set standards to identify locker procedures.
Agreement Renewal is Mandatory
Currently, all the users would now be required to sign a fresh locker agreement by 31 December 2025. This agreement will clarify the duties of the users as also the banks as to the operation and use of the lockers. The banks will provide the customer with copies that are either stamped or e-stamped. This way, the likelihood of any disputes with regard to the use of lockers is greatly reduced.
Enhanced Security Measures
Biometric access is now mandatory, which includes fingerprint or iris scanning. CCTV monitoring with 180 days of video retention is compulsory. Customers get SMS or email notice of every access to the locker. These checks attempt to mitigate theft and fraud.
Transparent Pricing Structure
Locker rents depend on size and location. Small lockers (66 inches) cost anywhere between ₹1,500 and ₹3,000 annually, a medium one (1010 inches) between ₹4,000 and ₹6,000, and a large (12*12) between ₹8,000 and ₹12,000. Locations in metro cities may levy 20% higher charges on the fees.
Liability and Insurance
Banks should ideally insure their lockers against theft, fire, and natural perils. They should provide compensation in case of any loss caused to a customer by the bank’s fault. Cash and jewellery should be separately insured by the customer himself. Thus, the users get financial protection.
Key Changes
| Aspect | Pre-2025 Rules | 2025 Rules |
|---|---|---|
| Agreement Renewal | Not mandatory | Required by Dec 31, 2025 |
| Security Access | Key-based | Biometric and dual-key |
| CCTV Footage | Optional | Mandatory, 180-day storage |
| Annual Fees | Variable | ₹1,500-₹12,000 by size |
Also read: PPF Withdrawal Rules 2025: How to Withdraw, Extend and Maximize Your Savings