Whether you spell it safety deposit box or safe deposit box, you're looking for the same thing: a privately locked compartment inside a secure vault where you can store valuables, documents, or jewellery. Both terms are used interchangeably in Malaysia. If you're trying to find one in Penang, this covers your options, what to expect, and how it works at Legacy Lockers.
- Safety deposit box and safe deposit box are the same thing, different spelling.
- Legacy Lockers offers three sizes in Penang, from RM380/yr on a 5-year plan.
- No bank account required. Open 7 days a week, 10am to 6pm.
- Contents insurance up to RM10,000 included as standard.
- Located at 109 Kelawei Road, George Town, in front of Gurney Paragon Mall.
Safety deposit box or safe deposit box: is there a difference?
No. Both refer to the same product. "Safe deposit box" is the more widely used term in the banking and storage industry, but "safety deposit box" is equally understood and commonly searched. You will see both used on this site and across Malaysia.
What does a safety deposit box actually do?
A safety deposit box is a secure, individually locked compartment inside a vault or strong room. You hold one key, the facility holds a second, and both are required to open it. Nobody else, including staff, can access your box's contents. You rent it on an annual basis and can access it any time the facility is open.
People use them for things that are difficult or impossible to replace: property titles, wills, passports, jewellery, precious metals, and digital media. For a full list of what makes sense to store, see what to store in a safe deposit box.
Safety deposit box sizes and pricing in Penang
Legacy Lockers offers three box sizes. Longer commitments come at a lower annual rate.
| Size | Dimensions | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Small | 5″ × 5″ × 24″ | RM420/yr* | RM400/yr* | RM380/yr* |
| Medium | 5″ × 10″ × 24″ | RM720/yr* | RM700/yr* | RM680/yr* |
| Large | 10″ × 10″ × 24″ | RM1,050/yr* | RM1,000/yr* | RM980/yr* |
*Annual rates per box. Subject to Service Tax at the prevailing rate. A refundable deposit and one-time agreement stamping fee apply. Every box includes base contents insurance up to RM10,000.
A Small box fits a stack of documents and a few pieces of jewellery. Medium suits a larger collection or mixed valuables. Large works well for families storing multiple items across different categories.
How to rent a safety deposit box in Penang
New registrations at Legacy Lockers are by appointment, Monday to Friday, 10am to 5:30pm. Bring your IC or passport. You will choose your size, sign the rental agreement, and leave with two private keys. The whole process takes one short visit.
Once registered, you can access your box during opening hours, seven days a week from 10am to 6pm, with no appointment needed.
The vault: purpose-built underground
Legacy Lockers operates from an underground strong room built entirely for secure storage. The vault has 360-degree reinforcement and advanced security systems throughout. It was not adapted from an existing room or retrofitted into a corner of a commercial building. It sits below the building, purpose-built from the ground up.
That distinction matters. A vault designed specifically for this purpose offers a structurally different level of protection than a box in a general-purpose room, regardless of what brand is above the door.
No bank account required
Most bank safe deposit boxes in Malaysia require you to hold an account or maintain a fixed deposit with that bank. Legacy Lockers has no such requirement. If you want a box, you can rent one. For a full comparison of bank versus private options, see safe deposit box Penang: bank vs private.
Where to find us
Legacy Lockers is at Amee Philips Building, 109 Kelawei Road, George Town, Penang, directly in front of Gurney Paragon Mall. Open every day, 10am to 6pm. Closed on select public holidays.
Frequently asked questions
Yes. Both spellings refer to the same product: a secure, individually locked compartment inside a vault that you rent for storing valuables or documents. "Safe deposit box" is more common in the industry, but both are widely understood.
Legacy Lockers at Amee Philips Building, 109 Kelawei Road, George Town offers private safe deposit boxes in three sizes. Open 7 days a week, 10am to 6pm. No bank account required.
At Legacy Lockers, a Small box starts from RM420/yr on a 1-year plan or RM380/yr on a 5-year plan. Medium starts from RM720/yr, and Large from RM1,050/yr. All prices are subject to Service Tax.
No. Legacy Lockers does not require a bank account, fixed deposit, or any banking relationship to rent a box.
Yes. Every box at Legacy Lockers includes base contents insurance of up to RM10,000 as standard.
Related Reading
Safe Deposit Box Penang: Bank vs Private, What It Actually Costs
Safe Deposit Locker Penang: Sizes, Pricing and How to Rent One
Rent a Safety Deposit Box in Penang
Open 7 days a week, 10am to 6pm. No bank account needed.