IndusInd Bank Locker Charges 2025 – Fees, Security Deposit & More

Imagine having a gold necklace worth ₹2,00,000, gifted by your grandmother. It’s not just gold; it’s her love and blessings. But every time you leave home, there’s a little fear—what if someone steals it? You’re not alone. Last year, there was a 25.2% rise in home theft cases in big cities like Mumbai and Delhi. 

This has made many people think – where can we keep our valuables safely? That’s why more people are turning to bank lockers. IndusInd Bank offers safe lockers to protect your valuables. Let’s understand the locker charges, sizes, and how you can get one in 2025 to keep your treasures safe.

Types of Locker at IndusInd Bank

Let’s break down the locker sizes with more real-life examples to help you understand what you can store in each:

Small Lockers:

• Capacity: Suitable for small jewellery items, gold coins, or important documents.
• Examples: Marriage certificates, property registration papers, or a few gold bangles.
• Ideal For: Individuals or small families with limited valuables.

Medium Lockers:

• Capacity: Can store a jewellery box, some cash, and a few more documents.
• Examples: Gold earrings, a necklace set, cash reserves up to Rs. 1,00,000.
• Ideal For: Newlyweds, professionals, or small business owners.

Large Lockers:

• Capacity: Spacious enough for jewellery, property documents, and larger valuables.
• Examples: Gold sets worth Rs. 10,00,000, ancestral jewellery, property sale deeds.
• Ideal For: Families or individuals with a significant amount of gold and documents.

Extra-Large Lockers:

• Capacity: Designed for heavy jewellery, large amounts of cash, or business valuables.
• Examples: Gold worth Rs. 25,00,000, legal documents, and business cash reserves.
• Ideal For: Business owners, and high-net-worth individuals.

IndusInd Bank Locker Charges 

Charges for IndusInd Bank lockers depend on multiple factors, including branch location and locker size. Here’s an in-depth look:

Factors Affecting Charges

• Branch Location: Metro branches have higher rent due to demand.
• Locker Demand: Some busy branches may have slightly higher charges.
• Branch Type: Premium branches in high-income areas may have costlier lockers.

Security Deposit & Locker Key Policy for IndusInd Bank Locker

• A Fixed Deposit (FD) is required as a security deposit for locker allotment.
• The FD amount depends on locker size and annual rent.
• The deposit serves as collateral to cover any unpaid locker rent or dues.
• The FD is lien-marked and cannot be withdrawn until the locker is surrendered.

Locker Key Policy

• Each locker comes with one unique key provided to the customer.
• Duplicate keys are not issued; loss of key requires locker break-open at the customer's expense.
• The key must be returned upon locker closure.
• Access is restricted to authorized persons as per bank records.

Fixed Deposit Requirement 

Banks ask for security when you apply for a locker. This ensures that locker rent and fees can be recovered in case of non-payment.

Why Is It Required?

• Acts as a security cushion for the bank.
• Ensures customers don’t default on rent payments.
• Protects the bank from locker breakage costs in case of non-payment.

How Much is Needed?

• Usually 2 to 3 times the annual locker rent.
• Example: If the locker rent is Rs. 6,000 per year, an FD of Rs. 12,000 to Rs. 18,000 is needed.

What Happens to the FD?

• The FD remains in your name and earns interest.
• It can be withdrawn if you close the locker, provided all dues are cleared.

Eligibility & Required Documents for IndusInd Bank Locker

Who Can Apply?

• Individuals aged 18 years and above.
• Customers with Savings or Current Account.
• NRIs can apply if they hold NRE or NRO accounts.

Documents Needed:

• ID Proof: PAN card, Aadhaar card, passport, voter ID, driving license.
• Address Proof: Aadhaar card, electricity bill, bank statement, rental agreement.
• Photographs: Passport-size photos.
• Locker Application Form: Available at the bank branch.

Applying for an IndusInd Bank Locker

The IndusInd bank locker can be applied via both online and offline processes. Follow these easy steps and get your locker: 

Offline Process:

Step 1: Visit Branch: Visit the nearest branch.

Step 2: Check Availability: Inquire about locker sizes and rent.

Step 3: Fill Application Form: Complete the Safe Deposit Locker Application Cum Agreement Form.

Step 4: Submit KYC Documents: Provide ID proof, address proof, and passport-sized photos.

Step 5: Make Security Deposit: Open a Fixed Deposit as per the bank’s requirement.

Step 6: Sign Agreement: Review and sign the locker agreement.

Step 7: Collect Key: Receive your locker key.

Step 8: Access Locker: Start using your locker during bank hours.

Online Process:

1. Visit IndusInd Bank’s Website.
2. Click Personal Banking (top left corner).
3. Select Accounts & Deposits > Locker > Safe Deposit Locker.
4. Go to the Application Forms section.
5. Download, Print & Fill out the form.
6. Submit the Form at the nearest branch.

Closing Your IndusInd Bank Locker Safely

Step 1: Empty the Locker: Remove all items from your locker.

Step 2: Visit the Branch and Return the Key.

Step 3: Fill Out the Locker Closure Form.

Step 4: Clear Pending Dues: Settle any outstanding locker rents or charges.

Step 5: Refund of Fixed Deposit: The FD used as a security deposit will be adjusted against any dues. The remaining amount, if any, will be refunded to you.

Conclusion

Lockers at IndusInd Bank are a great way to keep your valuables safe. Whether you have gold, important papers, or cash, a locker gives you peace of mind. Knowing the charges and policies helps you pick the right locker size and avoid any surprises later. Choose wisely and keep your treasures safe.

FAQs Related to Indusind Bank Locker Charges

Can an NRI open a locker in IndusInd Bank?

Yes, NRIs with NRE or NRO accounts can apply for lockers.

What happens if I lose my locker key?

The bank will break open the locker, and charges up to Rs. 5,000 may apply.

Does IndusInd Bank provide insurance for locker contents?

No, banks do not insure locker contents; personal insurance is advised.

Can I access my locker on Sundays or holidays?

No, locker access is only allowed during branch working hours.

Is there usually a waiting list for lockers?

Yes, especially in cities, popular branches may have a long waiting list.

Can I authorize my spouse to operate the locker?

Yes, joint locker access or written authorization is allowed.

Apply for Loans Fast and Hassle-Free

Apply Now

About the Author

LoansJagat Team

We are a team of writers, editors, and proofreaders with 15+ years of experience in the finance field. We are your personal finance gurus! But, we will explain everything in simplified language. Our aim is to make personal and business finance easier for you. While we help you upgrade your financial knowledge, why don't you read some of our blogs?