Locker

Locker Features:

♦ Safe Storage: Provides a secure place to store valuables like jewelry, important documents (property papers, insurance policies, etc.), and other confidential items.

♦ Various Sizes: Lockers are usually available in different sizes (Small, Medium, Large) to suit varying needs.

♦ Operation Hours: Access is typically permitted during the bank's regular business hours.

♦ Nomination Facility: The facility to nominate a person is generally available.

♦ Individual/Joint Hiring: Lockers can usually be hired by individuals, jointly, or by certain entities.

Requirements & Conditions (Common RBI Guidelines):

♦ Account Requirement: The locker hirer(s) generally need to have a Savings or Current Account with the bank.

♦ KYC Compliance: Full Know Your Customer (KYC) compliance is mandatory for all locker hirers.

♦ Rent: An annual rent is charged, which varies based on the size of the locker and is usually payable in advance.

♦ Prohibited Items: Customers are strictly prohibited from storing items such as:

⇒ Cash/Currency (beyond legal limits)

⇒ Arms, weapons, or explosives

⇒ Drugs, narcotics, or contraband material

⇒ Perishable, hazardous, or radioactive items