Here’s something most customers miss about the new locker regulations—it’s about more than just rent hikes. The RBI’s 2025 update refines agreements, tightens KYC norms, and raises liability caps. You might be wondering about this part: it’s easier than it seems once you know where to look.
Revised Agreements and KYC Overhaul
Banks must get every locker holder to sign a fresh contract by December 31, 2025, using e-stamps or franking. Along with that, your KYC details—from Aadhaar to address proofs—must be current. If any document’s outdated, you won’t be able to access your valuables.
What Belongs Inside Your Locker
Let’s simplify this—you can safely store jewellery, property papers, insurance policies, and rare collectibles. But don’t even think about stashing cash, weapons, or hazardous chemicals. If a bank staff suspects anything illegal, they’re empowered to break it open after formal notice.
Liability and Compensation Explained
You might be wondering how much you’d get if things go wrong. In cases of theft, fire, or fraud due to bank negligence, compensation is capped at 100 times your annual rent. So a ₹4,000 rent could mean up to ₹4,00,000 back in your pocket.
Nomination Norms and Access After Death
It’s easier than it seems once you know where to look—up to four nominees can now be registered per locker. If the primary holder passes away, access moves automatically under survivorship rules. Families avoid legal wrangles, since banks must hand over contents once claims are verified.
Rent and Deposit Snapshot
Banks may ask first-time customers for a term deposit covering three years’ rent and mandated break-open charges, but existing locker holders with good standing usually aren’t hit with that. Annual rent changes based on branch location and locker size. Here’s a quick look:
| Locker Size | Annual Rent (Urban Branch) | Suggested Deposit (3 Years’ Rent) |
|---|---|---|
| Small | ₹1,500 | ₹4,500 |
| Medium | ₹3,000 | ₹9,000 |
| Large | ₹4,000 | ₹12,000 |
| Extra Large | ₹6,000 | ₹18,000 |
Security Standards in Locker Rooms
Your bank must now install CCTV cameras covering every aisle, retaining footage for at least 180 days. Entry controls and fire-risk assessments are mandatory, too. If your branch relocates or notices a breach, they’re required to alert you a minimum of two months before changes kick in.
Also Read: From ₹18,000 to ₹41,000: What the 8th Pay Commission Could Mean for Level 1 Staff