Trying to get a bank locker? Here’s why you may be turned away
Last Update Date: 06-10-2026
Published by India Today
Abhishek Kumar's role: Quoted
Abhishek Kumar explained that space limits, compliance costs and low margins are pushing banks to restrict lockers, and pointed out that RBI rules bar linking allotment to financial products beyond a deposit covering three years' rent and charges.
More of Abhishek's views on money management
The article explains why bank lockers have become hard to get in India, as demand far outstrips supply and banks limit new allotments. It covers RBI locker rules introduced between 2023 and 2025, the ban on tying lockers to other products, and alternatives for those who cannot get one.
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Trying to get a bank locker? Here’s why you may be turned away