Safe Deposit Box Costs at 14 Banks (Including Sizes)

Wall of safe deposit boxes inside of a bank

A safe deposit box — sometimes referred to as a safety deposit box — is a great option for storing valuables, as it has the added protection of being inside a bank.

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]

To rent a safe deposit box, you’ll pay an 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 Mobile Banking App Logo

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 logo

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 logo

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 logo

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 logo

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

Key Bank logo

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 and T Bank logo

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 Mobile App Logo

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 logo

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 logo

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 One Checking

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 logo

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

US Bank logo

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
logo for Wells Fargo

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

Should you keep a complete list of what’s inside your safe deposit box?

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]

What happens if I lose my safe deposit box key?

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]

What happens to the contents of a safe deposit box if you don’t pay annual fees?

If you don’t pay the fees for a safe deposit box after a specific amount of time, the FDIC or the bank will turn its contents over to the state.[54][55]

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.

  1. https://hfsfcu.org/education/what-is-a-safe-deposit-box/[]
  2. https://www.texasgulfbank.com/blog/what-is-a-safe-deposit-box-and-why-should-you-use-one/[]
  3. https://www.helpwithmybank.gov/help-topics/branch-services/safe-deposit-boxes/safe-deposit-box-missing-items.html[]
  4. United Bank branch customer service representatives[][][][][][]
  5. Fifth Third Bank branch customer service representatives[][][][][][]
  6. Citibank customer service via Facebook chat[][][][]
  7. PNC branch customer service representatives[][][][][]
  8. Regions Bank branch customer service representatives[][][][][][]
  9. Bank of America branch customer service representatives[][]
  10. https://www.bankofamerica.com/content/documents/deposits/safedepositbox_disclosures.pdf[]
  11. BMO Harris Bank customer service via Facebook chat[][][]
  12. BMO Harris Bank branch customer service representatives[]
  13. https://www.bmoharris.com/pdf/bhps-exclusive-benefits.pdf[]
  14. https://www.bmoharris.com/pdf/personal/bestofbmo.pdf[]
  15. https://online.citi.com/USBA/einserts/14200.pdf[]
  16. https://www.online.citibank.co.in/portal/newgen/Safe-deposit-policy.pdf[]
  17. Comerica Bank branch customer service representatives[][]
  18. https://www.comerica.com/content/dam/comerica/en/documents/resources/about/cra/TX-Market-Public-File.pdf[]
  19. https://comerica.mediaroom.com/news-releases?item=108823[]
  20. https://www.comerica.com/personal-finance/banking/checking.html[]
  21. https://www.53.com/content/fifth-third/en/personal-banking/bank/checking-accounts/preferred.html#s[]
  22. https://www.53.com/content/dam/fifth-third/docs/reference/fifth-third-consumer-banking-welcome-kit-accessible.pdf[]
  23. https://www.key.com/personal/services/branch/banking-safe-deposit.jsp[]
  24. KeyBank branch customer service representatives[][]
  25. https://www.key.com/personal/services/branch/banking-safe-deposit.html[][]
  26. https://www3.mtb.com/help-center/safe-deposit-box-faqs[][]
  27. M&T Bank customer service via Facebook chat[][]
  28. https://www3.mtb.com/personal-banking/checking/mychoice-premium-checking[]
  29. https://www3.mtb.com/help-center/safe-deposit-box-faqs[]
  30. https://content.pncmc.com/live/pnc/personal/serviceCharges/ServiceChargesA.pdf[][][]
  31. https://www.pnc.com/content/dam/pnc-com/pdf/personal/Checking/service-charges-standard-checking-A.pdf[]
  32. https://www.regions.com/personal-banking/safe-deposit-box[][][]
  33. TD Bank branch customer service representatives[][][]
  34. https://tdbank.intelliresponse.com/index.jsp?requestType=NormalRequest&source=6&id=1511&question=How+can+I+rent+a+safe+deposit+box[][]
  35. Truist Bank branch customer service representatives[][]
  36. https://www.truist.com/content/dam/truist-bank/us/en/documents/guides-benefits/personal/personal-services-product-and-pricing-guide.pdf[]
  37. https://www.truist.com/content/dam/truist-bank/us/en/documents/rates-fees/personal/truist-one-personal-deposit-accounts-fee-schedule.pdf[]
  38. https://www.bankwithunited.com/content/dam/unitedbank/documents/online-account-opening/UB_FeeSchedule.pdf[]
  39. U.S. Bank branch customer service representatives[][][]
  40. https://www.usbank.com/dam/documents/pdf/deposits/consumer-pricing-information/deposit-products.pdf[]
  41. Wells Fargo branch customer service representatives[][]
  42. https://www.wellsfargo.com/fetch-pdf?formNumber=SDP2106&subProductCode=SBX[][][][]
  43. https://www.oklahomacentral.creditunion/Safe-Deposit-Box[][]
  44. https://www.fdic.gov/consumers/consumer/news/cnwin18/fivethings.html[][][]
  45. https://www.bankofamerica.com/content/documents/deposits/safedepositbox_disclosures.pdf[][][]
  46. https://living.geico.com/home/home-protection/safe-keeping-three-key-things-to-know-about-safe-deposit-boxes/[]
  47. Capital One customer service via Facebook chat[]
  48. Charles Schwab customer service via Facebook chat[]
  49. Chase Bank customer service via Facebook chat[]
  50. Citizens Bank branch customer service representatives[]
  51. https://www.hsbc.am/en-am/pdfs/accounts/safe-deposit-lockers/[]
  52. Santander Bank branch customer service representatives[]
  53. https://www.fsbwaupaca.com/personal/services.php[]
  54. https://www.fdic.gov/resources/consumers/consumer-news/2020-12.html[]
  55. https://www.helpwithmybank.gov/help-topics/branch-services/safe-deposit-boxes/old-safe-deposit-box.html[]

8 comments


  • Edna CRUZ

    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?

    • First Quarter Finance logo
      First Quarter Finance | Lindsey Desmet

      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.

  • James

    All through the article the author used the incorrect term “safety deposit box”. Does not show professionalism. No editor either?

    • First Quarter Finance logo
      First Quarter Finance | Laura Bachmann

      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.

  • Jerry B

    I found this article very useful. It answered all of my questions and provided me a ballpark cost with which to compare actual quotes.

    • First Quarter Finance logo
      First Quarter Finance | Kathleen Wilson

      Thanks for your feedback, Jerry! We always appreciate hearing from readers who find our articles useful.

  • A Hinds

    Does one have to have an acct at the bank to open a safe deposit box there?

    • First Quarter Finance logo
      First Quarter Finance | Laura Bachmann

      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.

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