Kotak Mahindra Bank Locker Charges – Complete Guide to Fees & Rental

Imagine you have valuable documents and jewellery worth ₹1 lakh, and are looking for a safe place to store them. You visit Kotak Mahindra Bank, where you’re given two options for renting a locker:

• A D Locker costs ₹1,500 annually.

• An A+ Locker costs ₹15,000 annually.

   

Which one should you choose? Is the bigger locker worth the extra cost? This blog will help you understand the different locker options at Kotak Mahindra Bank, their charges, eligibility, and how you can easily apply for one.

Kotak Mahindra Bank: An Overview

Kotak Mahindra Bank is one of India’s leading private-sector banks. It offers various services, including the highly secure Safe Deposit Locker facility. These lockers provide a safe space to store valuable assets like documents, jewellery, and other irreplaceable items.

Kotak offers multiple locker sizes, each with its rental charges and features. In this guide, we will review the different locker sizes available, the updated locker charges for 2025, eligibility criteria, required documents, and the steps to apply for a locker.

Types of Lockers Available at Kotak Mahindra Bank

Kotak Mahindra Bank provides five types of lockers with varying sizes and rental charges. Here's a quick look:

1. A+ Locker
2. A Locker
3. B Locker
4. C Locker

5. D Locker

    

The locker size you choose depends on the amount of space you need to store your valuables. Larger lockers offer more space but come witha higher annual rent.

Kotak Bank Locker Charges for 2025 

The charges for renting a locker at Kotak Mahindra Bank vary based on the size. Here’s a breakdown of the annual rental fees for each locker type in 2025:

As you can see, the rent increases as the locker size increases. Choose the one that fits your needs and budget.

Security Deposit & Locker Key Policy

When renting a locker, you will need to pay a refundable security deposit in addition to the annual rent. The amount varies depending on the locker size.

Read More – Kotak Mahindra Bank Net Banking

You will receive two keys for the locker: one is kept with you, and the other remains with the bank. It's essential to keep these keys secure. If you lose the keys, Kotak may charge a replacement fee.

Eligibility Criteria & Required Documents for Kotak Bank Locker

To rent a locker at Kotak Mahindra Bank, you need to meet the following eligibility criteria:

• Individuals: Must be an existing customer of Kotak Mahindra Bank (having a savings, current, or fixed deposit account).
• Limited Companies: Can apply for lockers for business-related assets.
• Associations/Clubs/Trusts: Eligible to use lockers to safeguard their valuable items.

Required Documents 

When applying for a locker, you will need to submit:

• Security Deposit: A refundable deposit as per the locker size.
• Photographs: Passport-sized photos for identification.
• Bank Statement: A statement from your existing Kotak Bank account.
• KYC Documents: Valid KYC documents like Voter’s ID, Passport, Aadhaar, PAN Card, or Driving License.

If the locker is in joint names and one of the holders passes away, you will need to provide additional documents like a death certificate.

​​how To Apply For A Kotak Bank Locker?

You can apply for a locker at Kotak Mahindra Bank offline or online.

Offline Procedure:

1. Visit the Branch: Go to your nearest Kotak Bank branch.
2. Fill Out the Application: Complete the locker application form.
3. Sign the Agreement: Sign an agreement that outlines the terms and conditions of the locker.
4. Pay the Rent and Deposit: Pay the necessary locker rent and security deposit payments.

How to Surrender an Axis Bank Locker?

If you no longer need the locker, follow these steps to surrender it:

1. Write a Closure Application: Request the branch manager to close your locker.
2. Clear Any Dues: Ensure all locker fees are paid.
3. Return the Keys: Return both locker keys to the bank.

Bank officials will guide you through the closure process.

Kotak Bank Locker Rules

Here are a few important rules to keep in mind when renting a locker at Kotak Mahindra Bank:

• Key Security: Always keep your keys safe to prevent unauthorised access.
• Rental Payments: If you fail to pay locker rent, access to the locker may be denied.
• Repairs and Alterations: You will bear the cost of any repairs or changes to the locker.
• Bank’s Right to Deny Access: Kotak Mahindra Bank reserves the right to refuse access to the locker if terms are violated.

Conclusion

Renting a locker at Kotak Mahindra Bank is a convenient and secure way to store your valuable items. With a variety of locker sizes and rental charges, you can find an option that fits your needs and budget. By following the simple application process, you can ensure that your valuables are kept safe.

Also Read - Kotak Credit Card Statement

Before applying for a locker, make sure you understand the fees, eligibility requirements, and required documents to ensure a smooth experience.

FAQs on Kotak Bank Locker Charges

1. Can I apply for a Kotak Bank locker online?
Yes, you can apply for a locker online by visiting the Kotak Mahindra Bank website or by visiting the nearest branch.

2. What is the security deposit for a locker?
The security deposit amount depends on the locker size and is refundable once you close the locker and return the keys.

3. What happens if I miss paying the locker rent?
If you fail to pay the locker rent, Kotak Bank may deny you access to the locker and take necessary action.

4. How do I access the locker if a joint holder passes away?
The surviving holder will need to provide the death certificate and complete the necessary forms to access the locker.
 

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LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.