William Lipovsky
These boxes generally involve two sets of keys: one that remains with the bank and one that goes to the box owner. The box requires both keys to open, providing an additional layer of security.[1][2]
When you rent a safe deposit box, you’ll pay the annual fee and either become the sole owner or authorize specific people to access the box.[3]
Below, I list the major U.S. banks that offer safe deposit boxes, including an explanation of each one’s annual fee, available sizes, and whether it offers extra insurance for the contents of the box.
Safe Deposit Box Sizes and Costs
Safe deposit box prices vary by location and box size.[4][5]
Costs can range anywhere from about $40 to nearly $300.[6][7][8]
The smallest safe deposit box available is usually around two inches by four inches or three inches by five inches. The largest is typically 10 inches by 10 inches.[4][5]
However, most banks offer a variety of options between these sizes as well, with varying costs.[4][5]
Availability and Costs by Bank
Safe deposit box prices can vary from branch to branch of the same bank, as can available sizes.
I gathered the price estimates below by viewing safe deposit box documentation on each bank’s website and contacting customer service representatives.
For exact prices and size availability, it’s best to contact your local branch.
Bank of America
- Sizes available: Vary by location, starting at three by five inches[9]
- Annual rate: Starting at around $75 for a three-inch by five-inch box[9]
- Extra insurance offered? No[10]
- Find a branch
BMO Harris Bank
- Sizes available: Vary by location; most branches offer three by five inches and 10 by 10 inches.[11]
- Annual rate: Varies by location, beginning at $45;[12][11] Premier Service clients receive a free three-inch by five-inch safe deposit box.[13][14]
- Extra insurance offered? Yes[11]
- Find a branch
Citibank
- Sizes available: Vary by location; options may include two by five inches, three by five inches, four by five inches, five by five inches, three by 10 inches, five by 10 inches, six by six inches, and 10 by 10 inches; only available to account holders.[6]
- Annual rate: Varies by location; generally around $40 to $150; up to $125 in yearly fees waived for Citigold and Citi Priority members[6][15]
- Extra insurance offered? No[16]
- Find a branch
Comerica Bank
- Sizes available: Options may include two by five inches and three by five inches; note that safe deposit boxes are only available to account holders and not available at all locations.[17]
- Annual rate: Varies by market and location; disclosed at the time of rental; discounts are available to customers holding certain types of checking accounts.[18][19][20]
- Extra insurance offered? No[17]
- Find a branch
Fifth Third Bank
- Sizes available: Vary by location; options may include three by five inches, three by 10 inches, five by 10 inches, and 10 by 10 inches.[5]
- Annual rate: Ranges from $69 to $155, depending on the size of the box; waived or discounted for Preferred and Express Banking customers, depending on the size of the box[5][21][22]
- Extra insurance offered? No[5]
- Find a branch
KeyBank
- Sizes available: Vary by location; anywhere from one by five inches to three by six feet.[23] Note that safe deposit boxes are only available to account holders.[24]
- Annual rate: Around $45 to $160, depending on size and location[24][25]
- Extra insurance offered? No[25]
- Find a branch
M&T Bank
- Sizes available: Vary by location[26][27]
- Annual rate: Varies by location and size of the box;[26][27] MyChoice Premium Checking account holders receive a $50 or 50% discount.[28]
- Extra insurance offered? No[29]
- Find a branch
PNC
- Sizes available: Vary by location; generally five by 10 inches and 10 by 10 inches. Safe deposit boxes are only available to account holders.[7]
- Annual rate: Varies by location; may range from around $55 to $240, depending on size[7][30][31]
- Extra insurance offered? No[7]
- Find a branch
Regions Bank
- Sizes available: Vary by location; options may include three by five inches, three by 10 inches, and 10 by 10 inches.[8][32]
- Annual rate: Varies by location and box size; generally around $65 to $250. Discounts of 30% to 50% are available for certain checking and savings account holders; an additional 10% discount is available if automatic payments are deducted from your Regions Bank checking or savings account.[32][8]
- Extra insurance offered? No[8][32]
- Find a branch
TD Bank
- Sizes available: Vary by branch; options may include three by five inches, five by five inches, and five by 10 inches.[33][34]
- Annual rate: Varies by location and size; generally around $70 to $100[33][34]
- Extra insurance offered? No[33]
- Find a branch
Truist Bank
- Sizes available: Three by five inches, five by five inches, five by 10 inches, 10 by 10 inches[35]
- Annual rate: Ranges from $45 to $140; free boxes or discounted rates are available to some clients, including Wealth Checking clients.[36][37]
- Extra insurance offered? No[35]
- Find a branch
United Bank
- Sizes available: Vary by location, but options may include two by four inches, two by five inches, two by 10 inches, three by 10 inches, four by 10 inches, five by 10 inches, and 10 by 10 inches; only available to account holders.[4]
- Annual rate: Varies by location and box size; generally around $20 to $165, with a 50% discount available for veterans[38]
- Extra insurance available? No[4]
- Find a branch
U.S. Bank
- Sizes available: Vary by location; options may include two by five inches, four by five inches, four by 10 inches, five by 10 inches, and 10 by 10 inches.[39]
- Annual rate: Varies by location and box size; generally around $55 to $135.[39] U.S. Bank Smartly Checking account holders, seniors (65+), military service members, and Workplace-Financial Wellness Program members get 50% off the cost of a safe deposit box.[40]
- Extra insurance offered? No[39]
- Find a branch
Wells Fargo
- Sizes available: Vary by location[41][42]
- Annual rate: Varies by location and size; generally around $60 to $120[41][42]
- Extra insurance offered? No[42]
- Find a branch
For more information about safe deposit boxes, see the complete list of banks with safe deposit boxes.
Items You Should (And Shouldn’t) Put in A Safe Deposit Box
When you rent a safe deposit box, the bank will usually provide you with a list of items you can and can’t store in the box.[43]
Generally, items that should go into a safe deposit box are things you don’t need to access frequently or on short notice but are vital to your estate or yourself. Examples may be birth certificates, adoption papers, property deeds, or a copy of your will.[44]
You may also want to store small precious items like jewelry and family keepsakes.[43]
Items you shouldn’t put in your safe deposit box include cash (because safe deposit boxes don’t include FDIC insurance), things that you need to have on hand or access quickly, or illegal/prohibited goods.[44][45]
Tip: If you have homeowners insurance, it may cover safe deposit boxes. Check your policy details to find out if you have coverage.[46][4][8]
Banks That Don’t Offer Safe Deposit Boxes
Not all banks offer safe deposit boxes.
In the course of my research, I found that the following banks generally don’t offer them:
FAQ
Yes, you should always keep a list and take pictures of every item in your safe deposit box, along with any available proof of ownership for valuables. Though safe deposit boxes are generally secure, natural disasters like flooding and earthquakes can happen, and you should have a record of your box’s contents just in case you need to make an insurance claim.[42][45]
When you rent a safe deposit box, the bank will generally issue two keys to you. If you lose one key, you will pay a replacement fee (typically around $15); if you lose both, the bank will call a locksmith to change the lock and charge you a substantial fee.[30][53][30]
In Summary
You can keep valuable documents and items in a safe deposit box at many banks for an annual fee.
Fees and box size availability vary by bank and location, but you can expect to pay anywhere from around $40 for a small safe deposit box to over $200 for a large one.[6][7][8]
Items can include vital documents, jewelry, and family keepsakes. However, you shouldn’t put items you need frequently or on short notice in a safe deposit box, nor should you add cash, illegal property, or prohibited items.[44][45]
You can share your thoughts or questions regarding safe deposit boxes in the comment section below. Additionally, feel free to share advice and helpful tips if you have experience with them.
If you have money that you don’t want to put in your bank account, what would be the safest place to put it if not a safe deposit box?
Hello, Edna! Aside from a bank account, the safest place to put your cash would be in a home safe/office safe. This gives you full control over the security measures guarding your valuables and gives you 24/7 access. We have updated our article to include this information.
All through the article the author used the incorrect term “safety deposit box”. Does not show professionalism. No editor either?
Hi James,
There is a debate about which is correct — safe or safety — and you’re probably right that the answer is safe. But, even agencies as formal as the FDIC use both (a search for “safety deposit box” gets over 30 results on the FDIC’s website). Here at FQF we try to keep things colloquial, so we used safety deposit box.
I found this article very useful. It answered all of my questions and provided me a ballpark cost with which to compare actual quotes.
Thanks for your feedback, Jerry! We always appreciate hearing from readers who find our articles useful.
Does one have to have an acct at the bank to open a safe deposit box there?
Hi A,
Generally, you can rent a safe deposit box at a bank without also having an account there, though some banks might require you to also have an account. Regardless, it’s often best to rent a safe deposit box from a bank at which you already have an account because the bank will offer a discount on the regular rental fee if you also bank with them.