The thieves stole cash, jewellery and other valuables worth hundreds of thousands of dollars from a branch of the Punjab National Bank in Haryana.
The tunnel started in an empty house nearby, police said.
The body of the home-owner, who police say masterminded the raid, has been found in his car.
Police say he took his life by consuming poison.
It is not clear why the owner took his own life, although the police say he may have done so because he feared arrest.
Senior police official AK Rao told the Press Trust of India news agency that 24kg of GOLD AND SILVER jewellery, and 60,000 rupees had been recovered from the three men.
The police are looking for one more suspect.
