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Gold worth ₹5 lakh in a bank locker vs fixed deposit: Which offers a better guarantee?
5 min read | Updated on February 23, 2026, 13:00 IST
SUMMARY
In short, bank lockers offer safe physical storage for assets like gold jewellery, but they don't offer the same level of financial security as a fixed deposit.
An HDFC Bank medium locker in a semi-urban area costs ₹3,300 per year, which means the bank’s liability is only ₹3.3 lakh, far below the ₹5 lakh value of the gold. | Image: Shutterstock.
If you are wondering whether it is safer to store ₹5 lakh worth of gold in a bank locker or to invest the same amount in a fixed deposit (FD), which option actually provides a better guarantee?
This means that even if the bank fails, customers are legally entitled to the full ₹5 lakh, usually paid back within 90 days.
On the other hand, in the case of a bank locker, under RBI rules, the maximum the bank will pay if your locker is compromised due to fire, theft, or employee fraud is 100 times the annual rent of the locker.
For example, an HDFC Bank medium locker in a semi-urban area costs ₹3,300 per year, which means the bank’s liability is only ₹3.3 lakh, far below the ₹5 lakh value of the gold.
Similarly, ICICI Bank charges ₹5,500 for a semi-urban medium locker, limiting liability to ₹5.5 lakh, while an SBI urban medium locker at ₹3,000 covers only ₹3 lakh.
On top of this, lockers do not cover natural disasters like floods or earthquakes, and proving exactly what was lost is your responsibility.
SBI locker charges (Annual rent, excluding GST)
The annual locker charges vary based on the size of the locker and the location of the branch. For small lockers, the rent ranges from ₹1,000 in rural and semi-urban areas to ₹1,500-₹2,000 in urban and metro locations.
Medium lockers cost ₹2,000 in rural and semi-urban regions and ₹3,000-₹4,000 in urban and metro branches.
Large lockers are priced at ₹5,000 in rural and semi-urban areas and ₹6,000-₹8,000 in urban and metro locations.
For extra-large lockers, the annual rent ranges from ₹7,000 in rural and semi-urban areas to ₹9,000-₹12,000 in urban and metro branches.
| Locker Size | Rural / Semi-Urban (₹/yr) | Urban / Metro (₹/yr) | Max Liability (100× rent) |
|---|---|---|---|
| Small | 1,000 | 1,500 | ₹1,00,000 – ₹1,50,000 |
| Medium | 2,000 | 3,000 | ₹2,00,000 – ₹3,00,000 |
| Large | 5,000 | 6,000 | ₹5,00,000 – ₹6,00,000 |
| Extra Large | 7,000 | 9,000 | ₹7,00,000 – ₹9,00,000 |
ICICI Bank locker charges (Annual rent, excluding GST)
In rural areas, costs range from ₹1,320 for small units, ₹2,750 for medium, ₹4,400 for large, and ₹11,000 for extra-large. Semi-urban areas see slightly higher rates at ₹2,200 for small, ₹5,500 for medium, ₹7,700 for large, and ₹16,500 for extra-large units.
Urban locations are priced at ₹3,300 for small, ₹6,600 for medium, ₹11,000 for large, and ₹17,600 for extra-large.
In metro regions, the rates increase to ₹3,850 for small, ₹8,250 for medium, ₹14,300 for large, and ₹22,000 for extra-large. Metro+ areas have the highest pricing with ₹4,400 for small, ₹9,900 for medium, ₹16,500 for large, and ₹24,200 for extra-large units.
| Location | Small (₹/yr) | Medium (₹/yr) | Large (₹/yr) | Extra Large (₹/yr) | Max Liability (100× rent) |
|---|---|---|---|---|---|
| Rural | 1,320 | 2,750 | 4,400 | 11,000 | ₹1,32,000 – ₹11,00,000 |
| Semi‑Urban | 2,200 | 5,500 | 7,700 | 16,500 | ₹2,20,000 – ₹16,50,000 |
| Urban | 3,300 | 6,600 | 11,000 | 17,600 | ₹3,30,000 – ₹17,60,000 |
| Metro | 3,850 | 8,250 | 14,300 | 22,000 | ₹3,85,000 – ₹22,00,000 |
| Metro+ | 4,400 | 9,900 | 16,500 | 24,200 | ₹4,40,000 – ₹24,20,000 |
HDFC Bank locker charges (Annual rent, excluding GST)
In metro locations, locker charges start at ₹1,350 for extra small lockers, ₹2,200 for small, ₹4,000 for medium, ₹4,400 for extra medium, ₹10,000 for large, and ₹20,000 for extra-large lockers.
In urban areas, the rates are slightly lower: ₹1,100 for extra small, ₹1,650 for small, ₹3,000 for medium, ₹3,300 for extra medium, ₹7,000 for large, and ₹15,000 for extra-large lockers.
Semi-urban regions have charges of ₹1,100 for extra small, ₹1,200 for small, ₹1,550 for medium, ₹1,750 for extra medium, ₹4,000 for large, and ₹11,000 for extra-large lockers.
In rural areas, locker rents are the lowest: ₹550 for extra small, ₹850 for small, ₹1,250 for medium, ₹1,500 for extra medium, ₹3,300 for large, and ₹9,000 for extra-large lockers.
| Locker Size | Metro (₹/yr) | Urban (₹/yr) | Semi-Urban (₹/yr) | Rural (₹/yr) | Max Liability (100× rent) |
|---|---|---|---|---|---|
| Extra Small | 1,350 | 1,100 | 1,100 | 550 | ₹55,000 – ₹1,35,000 |
| Small | 2,200 | 1,650 | 1,200 | 850 | ₹85,000 – ₹2,20,000 |
| Medium | 4,000 | 3,000 | 1,550 | 1,250 | ₹1,25,000 – ₹4,00,000 |
| Extra Medium | 4,400 | 3,300 | 1,750 | 1,500 | ₹1,50,000 – ₹4,40,000 |
| Large | 10,000 | 7,000 | 4,000 | 3,300 | ₹3,30,000 – ₹10,00,000 |
| Extra Large | 20,000 | 15,000 | 11,000 | 9,000 | ₹9,00,000 – ₹20,00,000 |
In short, bank lockers offer safe physical storage for assets like gold jewellery, but they don't offer the same level of financial security as a fixed deposit.
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