Read the Fine Print Always check out for fine print before you shell out the locker rent. Many banks require minimum account balance in the account, which can turn expensive if your bank sets a limit at 25, 000-50,000 a quarter. You should have the knowledge how your bank defines a year while calculating locker rentals. The date of agreement is taken by most of the banks as the starting point and successive annual rent will have to be paid on that date. To pay the rent without a default, it is important to know the pattern. Better check the bank's liability in case of robbery, as most banks refuse to accept the responsibility of missing articles. Similarly, make sure you check the refund rules. Ask about the charges and rules associated with operating the locker. For example, State Bank of India warns its customer that they will open the locker if the customer does not access its locker over the period of one year, even if they regularly pay the rent. Then there are expenses associated to eventualities like breaking open a locker. So, if you lose your locker keys, Indian Overseas Bank charges 200 in addition to the breaking charges, while HSBC Bank charges 1,000.