Waterloo Underground Depot is a London Underground maintenance depot which stables the Waterloo & City line's fleet of 1992 Stock trains.

[2] Trains from Bank reverse at the depot before returning.

For larger items like rolling stock, lengths of rail and other heavy machinery, access to the depot can only be achieved via a shaft on Spur Road, requiring a large crane to do so.

[3] The depot opened in 1898 when the Waterloo and City line began operation.

Until the early 1990s, Class 487 EMUs were allocated to the depot.