diff --git a/test/acceptance_test.go b/test/acceptance_test.go
index 6b67adb..c615391 100644
--- a/test/acceptance_test.go
+++ b/test/acceptance_test.go
@@ -31,7 +31,7 @@ import (
 
 var (
 	vaultVersion      = "latest"
-	bankVaultsVersion = "v1.31.0"
+	bankVaultsVersion = "v1.31.1"
 )
 
 // Installing the operator helm chart before testing
diff --git a/vault/README.md b/vault/README.md
index 7cabedd..d0a6d89 100644
--- a/vault/README.md
+++ b/vault/README.md
@@ -174,7 +174,7 @@ The following table lists the configurable parameters of the Helm chart.
 | `vault.config` | object | `{}` | A YAML representation of the final Vault config file. Check: https://developer.hashicorp.com/vault/docs/configuration |
 | `vault.externalConfig` | object | `{}` | A YAML representation of dynamic config data used by Bank-Vaults. Bank-Vaults will use this data to continuously configure Vault. Check: https://bank-vaults.dev/docs/external-configuration/ |
 | `unsealer.image.repository` | string | `"ghcr.io/bank-vaults/bank-vaults"` | Container image repo that contains Bank-Vaults |
-| `unsealer.image.tag` | string | `"v1.31.0"` | Container image tag |
+| `unsealer.image.tag` | string | `"v1.31.1"` | Container image tag |
 | `unsealer.image.pullPolicy` | string | `"IfNotPresent"` | Container image pull policy |
 | `statsd.image.repository` | string | `"prom/statsd-exporter"` | Container image repo that contains StatsD Prometheus exporter |
 | `statsd.image.tag` | string | `"latest"` | Container image tag |
diff --git a/vault/values.yaml b/vault/values.yaml
index 5fba64a..390a02a 100644
--- a/vault/values.yaml
+++ b/vault/values.yaml
@@ -263,7 +263,7 @@ unsealer:
     # -- Container image repo that contains Bank-Vaults
     repository: ghcr.io/bank-vaults/bank-vaults
     # -- Container image tag
-    tag: "v1.31.0"
+    tag: "v1.31.1"
     # -- Container image pull policy
     pullPolicy: IfNotPresent