Safe Deposit Vault or Safe Deposit Lockers are the facilities provided by banks to their customers to keep their valuables.
This facility is not offered through all bank branches and wherever the facility is offered, allotment of safe deposit vault will be subject to availability and compliance with other terms and conditions related to this service. Safe deposit lockers may be hired by an individual (a non-minor) singly or jointly with another individual(s), HUFs, firms, limited companies, associates, societies, trusts etc. Nomination facility is available to individual(s) holding the lockers singly or jointly. In respect of lockers held in joint names, up to two nominees can be appointed. Joint locker holders can give mandate for access to the lockers in the event of death of one of the holders which is in similar lines to those for deposit accounts. In the absence of nomination or mandate for disposal of contents of lockers, with a view to avoid hardship to common persons, the bank will release the contents of locker to the legal heirs against indemnity on the lines as applicable to deposit accounts.
Types of Locker |
Size |
Rent |
A |
125 X 175 X 492 |
500/- |
B |
160 X 423 X 492 |
1000/- |
C |
320 X 210 X 492 |
2500/- |
D |
405 X 529 X 492 |
3500/- |
