As gold prices surge, many families turn to bank lockers for safety. But few realize that while banks secure the space, they don’t insure the contents. In India, locker protection works differently — knowing the rules can save you from costly surprises.

What Banks Actually Protect

Banks ensure tight security with cameras, restricted access, and dual-key systems. Following a 2005 Supreme Court ruling, they must maintain proper safety and compensate for proven negligence — such as robbery caused by poor security or staff misconduct.

What They Don’t Cover

Banks neither know nor insure what you store. If valuables are lost due to fire, floods, or theft not linked to negligence, you get no compensation. Renting a locker doesn’t automatically protect your gold.

Home vs. Locker

Keeping jewellery at home might seem convenient but poses higher risks — burglary, fire, or damage. Most families now use a mix: daily-use jewellery at home, and long-term holdings in a locker.

How to Truly Safeguard Your Gold

Take a separate jewellery insurance policy. Keep photos, invoices, and an updated inventory for smooth claims. Visit your locker at least once a year to stay compliant with bank rules.

Bottom Line

Bank lockers are safe, but not foolproof. They protect the vault, not your gold. The best approach: combine a locker, insurance, and good records to keep your wealth secure.