Sign agreement locker agreement promptly, buy cover for valuables

Customers may face service interruption if they don't sign agreement after multiple deadline extensions

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Banks typically require customers to open a fixed deposit (FD) when availing of a locker | File image

Karthik Jerome New Delhi

4 min read Last Updated : Jun 24 2025 | 4:33 PM IST

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Customers who have not yet signed the revised locker agreement with their banks should do so promptly. They risk losing access to their lockers if they delay further.

The Reserve Bank of India (RBI) had directed banks in August 2021 to sign updated locker agreements with customers by January 1, 2023. The deadline was extended twice: first to December 31, 2023, and then to March 31, 2024. Some banks have now reportedly sought a further extension until December 2025.

Risk of access suspension

Customers may face service interruption. “The operation of the locker could be paused until the agreement is

Topics : Reserve Bank of India RBI bank Lockers Guide to Personal Finance Personal Finance