Gold, being a precious metal, holds a significant financial value. People invest a major portion of their investment in purchasing gold. However, it becomes difficult to store gold due to threats like robbery, especially if it is in large quantities. Here are some useful information on how to store physical gold safely-
1. Bank Safe Deposit Lockers
Bank lockers are highly secure for storing physical gold. The vaults provided by banks like SBI, HDFC, ICICI, etc. assure that access is limited, eliminating the threat of theft. These vaults are available by paying a nominal charge, ranging from Rs. 1000 to Rs. 12000 annually. However, the insurance is not included, and separate gold insurance has to be taken. Another point of focus is that it is accessible only during the bank hours and hence can be a problem at time of emergency.
| Aspect | Details |
| Security Level | Highly Secure bank vaults with limited access |
| Access | Limited to bank hours |
| Cost | ₹1,000 – ₹12,000/year |
| Insurance | Not included – needs separate gold insurance |
| Ideal For | Small to medium holders wanting reliable storage |
Examples | SBI, HDFC Bank, ICICI Bank, Axis Bank, Canara Bank |
| Remarks | Most popular choice in India |
2. Private Vault Services in India
Private Vaults are an extremely secure option for storing gold as they have 24/7 surveillance with biometric access. It can be accessed anytime based on demand, and there is no time restriction. It is slightly on the expensive side, costing around Rs. 5000 to Rs. 50000 based on the size of the vault. These services may or may not have insurance based on the preference and brand availability. These are ideal for larger and professional holdings.
| Aspect | Details |
| Security Level | Very High – 24/7 surveillance, biometric access |
| Access | Flexible – On-demand or subscription-based access |
| Cost | ₹5,000 – ₹50,000+/year depending on locker size/value stored |
| Insurance | Usually included or offered optionally |
| Ideal For | HNIs, large gold investors, jewellers |
| Examples | Sequel Secure Logistics, Brinks India, MMTC-PAMP Safekeeping, Augmont Vaults |
| Remarks | Ideal for large holdings or professional storage needs |
3. Home Safe
Home safe means keeping the gold at home with security measures like CCTV cameras, safety alarms, etc. It provides a medium level of security as no professionals are involved physically. Family members can access the gold anytime they want, as it is available close to them. Some examples of safes are Godrej Safes, Yale Smart Safes, etc.
| Aspect | Details |
| Security Level | Medium to High |
| Access | Full 24/7 access |
| Cost | ₹5,000 – ₹50,000+ (one-time safe + optional CCTV/security setup) |
| Insurance | Optional – Get home insurance with gold rider (HDFC Ergo, ICICI Lombard) |
| Ideal For | Families wanting direct control over their gold |
| Examples | Godrej Safes, Yale Smart Safes, Ozone, Amazon Basics Safes |
| Remarks | Combine with CCTV, alarm, and fireproofing for full safety |
Also read: Gold ETFs or SGBs: Which Gold Investment is Right for You?
4. Diversion or Hidden Storage at Home
This measure of storing gold is good when the quantity is low, as the security level is low. It is a method of storing gold in disguise at home, for example, Fake book safes, wall clocks, electrical panels, and floor tiles etc. It is not recommended generally, especially for larger quantities. The security level depends on the creativity of the owner to hide it properly to prevent theft or robbery.
| Aspect | Details |
| Security Level | Low to Medium – Depends on secrecy |
| Access | Full 24/7 access |
| Cost | ₹0 – ₹2,000 (DIY or store-bought diversion safes) |
| Insurance | Not applicable for most hidden methods |
| Ideal For | Emergency funds, small holdings, or layered protection |
| Examples | Fake book safes, wall clocks, electrical panels, and floor tiles |
| Remarks | Not secure for large quantities; best as a backup or decoy |
5. Offshore/International Vaults
It is a highly secure option for first-time investors or youth. The gold is stored in vaults with online access through apps. The physical delivery is available on demand, making it a highly safe option for storing physical gold. The cost is higher compared to all the options listed, and so is the security level. It is ideal for Gen Z and tech-savvy individuals who rely on technology and know the technical know-how properly.
| Aspect | Details |
| Security Level | Very High – Vaulted, insured, and audited |
| Access | App-based 24/7 access; physical delivery on request |
| Cost | 3–6% spread + delivery charges if converted to physical |
| Insurance | Included in the vault service |
| Ideal For | First-time investors, youth, and gold SIP buyers |
| Examples | Tata Neu, PhonePe (via SafeGold), Groww (via Augmont), Paytm, MMTC-PAMP |
| Remarks | Ideal for digital-savvy investors; can redeem in coins or bars |
Bottomline
The overall conclusion can be drawn that there are multiple ways to store gold in physical form. Some involve professionals while the others do not. The security level varies from one way to another, along with the price. Multiple companies, such as Tata Neu, PhonePe (via SafeGold), are offering such services. Analyse and balance safety, cost, and convenience wisely.
Written by Tanya Kumari
