Bank locker rules: Lost locker keys? Here's what you need to do

Many banks provide their customers with a Safe Deposit Locker (SDL) facility. It can be used by customers to store precious objects, important papers, and sentimental mementos. However, banks charge fees for lockers, depending on the size of the locker and the location of the bank.

When the locker is opened, banks typically provide each rental locker with one key while keeping one key with the bank on record. When you have to operate the account, a bank employee comes to the locker with his or her key, and you have to open with your key. Note that both parties (bank employee and locker holder) need to be present while opening the locker.

What happens when your locker keys are lost?

If you lose your locker key, you must inform the bank immediately. According to HDFC Bank, you have to submit a request letter with details of the locker key and number. A copy of the police report or acknowledgment of the complaint filed should also be submitted. The bank will then recover the cost of the new key from you. Then, the bank will let you know when and where to pick up the new key. All the locker hirers must be present at the designated time and place to receive the new key.


According to the SBI revised agreement, “Inform the Bank forthwith in case of loss of the key, password or any other identification mechanism provided by the Bank for the operation of the Locker and shall observe terms and conditions and bear expenses for change of lock for access to the locker, provided where the locker is hired in joint names the letter advising loss of keys should be signed by all the hirers, provided also the work of replacement of lock/repair shall be carried out by the Bank through its Supplier”

If you find the missing key, return it to the bank immediately, as it was previously reported as lost.

Discharge of locker contents at the request of the customer
According to the PNB locker agreement, “If the key of the locker, supplied by the bank is lost by the locker-hirer, the customer (locker hirer) shall notify the bank immediately. An undertaking may also be obtained from the customer that the key lost if found in the future, will be handed over to the bank. The charges for breaking open of locker/replacing the lost key plus Rs 1000/ (exclusive of GST) be recovered from the hirer. The charges applicable for the replacement of lost keys/issue of the new password shall be communicated to the locker hirer.”

Apart from Locker rent, the bank would also recover the following charges in respect of the locker:
a) One-time Registration Charge
b) Locker Visit Charges over a prescribed number of operation
c) Locker Rent Overdue Charge
d) Break open charge for Locker.