bank locker: During the epidemic, a large number of people are returning to their cities. In such a situation, the demand for bank lockers has increased.
Bank Locker: There has been a surge in the demand for bank lockers. These lockers are the cheapest way to secure your documents, jewelery, expensive metals and cash. You have to pay a nominal fee for these. Due to the Kovid epidemic, a large number of people are returning from cities to their hometowns. In such a situation, deposit lockers have become a necessity.
After the fall in gold prices, many investors are investing money in it. In such a situation, these investors also want to take lockers. However, it is difficult for most bank branches to expand their locker capacity. Banks usually have a waiting list for lockers. For this, you have to go to the bank branch near you and search for this option.
How will the bank locker open?
Existing bank customers have to do a minor paper work to get a locker. Those who are not customers of the bank will have to open a new current or savings account to get a locker first. Most banks ask for a fixed deposit for locker locking. The demand for fixed deposits can range from Rs 10,000 to Rs 2 lakh or more. It depends on what size locker you want and what is your city or location.
Some banks are offering 3-4 types of lockers. These include Small, Medium, Large, XL Locker. However, most lockers are of two types. These are small and large. You can take the locker by giving KYC documents, passport size photographs, your current and savings account details and security deposits. You also have to do it on the locker agreement. Also, you have to pay stamp duty according to your state.
Fees and charges
After opening the locker, you have to pay an annual fee to the bank for this. This charge can range from Rs 2,000 to Rs 20,000 annually. Tax is levied separately on this. Some banks also offer discounts or rebates according to the profile of the customer. You can also allow the bank to deduct money directly from your account by giving debit authorization.
You can access your Bank Locker during banking operations, but every bank has a fixed number of visits. Usually this number is of 12 visits annually. For this, you have to pay a fee per visit.
In banks, an employee is entrusted with the responsibility of lockers. To access Bank Locker, you have a pair of keys. One key is with the bank locker incharge, while the other key is with the customer. Both keys are required to open a locker. After opening the locker, the bank employee leaves. This way the customer gets privacy. You can lock it and go out after completing your work. The locker can be locked with a key.
Banks allow individuals / joint locker holders to appoint a nominee.
It is necessary to operate a locker
According to the regulations of the Reserve Bank, if a customer with a high risk profile does not operate a locker continuously for one year, or a customer with a medium risk does not operate a locker for 3 years, then the bank customer should immediately operate the locker May ask to do. The bank can also send you notice and ask you to operate the locker or surrender it.
If the customer is not able to provide the correct answer for not operating the locker or if it is not found to be appropriate, then the bank can cancel your locker (Bank Locker). The bank can take this action even if the rent is not paid. However, in the current era of epidemics, banks are giving a small concession in this matter to the customers.