For example, a safety deposit box in New York City will cost more than one in Springfield, Massachusetts. Besides the bank you choose, the location of the branch that holds your safety deposit box can influence the cost.
Banks have different price structures to cover their overhead costs, and their safety deposit boxes are one of the services that add to their revenue. Every major bank prices their safety deposit box leasing fees differently. Here are some of the things that can dictate how much it costs to lease a safety deposit box: What Factors Influence the Cost of Safety Deposit Boxes? I’ll also break down the different factors that influence the price of safety deposit boxes. You can expect to pay anywhere between $80 and $200 annually for standard-sized safety deposit boxes.īelow, you’ll learn how much it normally costs to lease a safety deposit box, and whether or not it’s the right decision for your valuables. Safety deposit boxes vary in price based on the bank you choose and the box’s location. You’ve probably heard that safety deposit boxes are a great place to store your valuables, but do safety deposit boxes cost money?
