diff --git a/docs/external-db-integration.md b/docs/external-db-integration.md
index 3239f72..2544300 100644
--- a/docs/external-db-integration.md
+++ b/docs/external-db-integration.md
@@ -8,6 +8,7 @@ For this, you need to set the following variables in `values.yaml`:
 2. `externalDB.flavor` - a type of the DB management system; currently only `zalando` ([Zalando operator](https://postgres-operator.readthedocs.io/en/latest/)) is supported
 3. `externalDB.secretName` - name of the secret with PostgreSQL credentials for Waldur user; should include `username` and `password` keys
 4. `externalDB.serviceName` - name of the service linked to PostgreSQL master
+5. `externalDB.passwordKey` - name of the key defining the PostgreSQL user's password; default: `password`
 
 Zalando-managed PostgreSQL cluster example:
 
diff --git a/waldur/templates/_helpers.tpl b/waldur/templates/_helpers.tpl
index 1b94b3a..7299a6a 100755
--- a/waldur/templates/_helpers.tpl
+++ b/waldur/templates/_helpers.tpl
@@ -92,8 +92,12 @@ Set postgres secret
 Set postgres secret password key
 */}}
 {{- define "waldur.postgresql.secret.passwordKey" -}}
+{{- if .Values.externalDB.enabled -}}
+{{ .Values.externalDB.passwordKey }}
+{{- else -}}
 "password"
 {{- end -}}
+{{- end -}}
 
 {{/*
 Set postgres database name
diff --git a/waldur/test/values.yaml b/waldur/test/values.yaml
index 62a1761..799e719 100755
--- a/waldur/test/values.yaml
+++ b/waldur/test/values.yaml
@@ -479,6 +479,7 @@ externalDB:
   flavor: "zalando"
   secretName: "waldur.waldur-testing-postgres.credentials.postgresql.acid.zalan.do"
   serviceName: "waldur-testing-postgres"
+  passwordKey: "password"
 
 postgresql:
   enabled: true
diff --git a/waldur/values.yaml b/waldur/values.yaml
index 63e0695..bb0885c 100755
--- a/waldur/values.yaml
+++ b/waldur/values.yaml
@@ -443,6 +443,7 @@ externalDB:
   flavor: "zalando"
   secretName: "waldur.waldur.credentials.postgresql.acid.zalan.do"
   serviceName: "waldur-postgres"
+  passwordKey: "password"
 
 postgresql:
   enabled: false