Introduction

In today’s world, the safety of valuable belongings is a major concern. Risks such as theft, burglary, fire, or accidental loss make home storage unsafe. To address this, banks offer Locker Facilities – a safe and reliable way to store precious items such as jewelry, documents, and heirlooms.

A locker is a secure storage unit, placed inside a specially designed vault, accessible only by the customer and the bank through a dual key system. It ensures confidentiality, protection, and peace of mind.

Key Features

1. Range of Sizes – Small, Medium, Large, Extra-Large.

2. Affordable Rent –

   • Minimum Rent: ₹500–₹1,500 annually in rural/semi-urban branches.

   • Urban/Metro: ₹2,000–₹10,000 annually depending on size.

3. Tenure – Lockers are allotted for 1 year minimum, renewable annually.

4. High-End Security – CCTV, alarm systems, fire-resistant vaults, and dual key access.

5. Confidentiality – Customers’ privacy is always respected.

6. Nomination Facility – Nominee registration available for smooth transfer of rights.

7. Insurance Option – Customers can choose optional locker insurance.

Benefits of Locker Facility

Peace of Mind

Valuables are safe from theft, burglary, or fire hazards at home.

Safe Custody of Valuables

Jewelry, ornaments, gold, silver, and family heirlooms are protected.

Protection of Documents

Property deeds, wills, insurance papers, FD receipts, share certificates, and educational documents can be safely stored.

Confidential & Private

Only the locker holder (and nominee) can access the locker. The bank does not interfere with its contents.

Disaster Protection

Strong rooms are built to withstand fire, floods, and other natural calamities.

Flexible Access

Lockers can be accessed during bank working hours with quick, hassle-free operation.

Eligibility

• Individuals (single/joint), partnership firms, companies, associations, and trusts.

• Both residents and NRIs are eligible (subject to conditions).

Locker Rent & Tenure

• Minimum Rent: ₹500–₹1,500 per year (small locker, rural/semi-urban).

• Urban/Metro Rent: ₹2,000–₹10,000+ annually based on size.

• Tenure: Lockers are hired for a minimum period of 1 year and renewed annually.

• Rent is payable in advance. Multi-year payment option may also be available.

Procedure to Avail a Locker

1. Fill locker application form.

2. Submit valid KYC documents (Aadhaar, PAN, Passport, etc.).

3. Sign Locker Hiring Agreement.

4. Pay annual rent + security deposit (usually linked to a Fixed Deposit).

5. Locker is allotted with dual key access (one with bank, one with customer).

6. Register nominee for future claim rights.

Terms & Conditions

• Locker can be operated only during branch working hours.

• Rent must be paid annually in advance.

• Bank is not liable for contents – insurance is recommended.

• In case of key loss, replacement charges apply.

• If rent remains unpaid, locker may be broken open as per legal provisions.

Security Measures

1. Strong rooms made with reinforced steel & concrete.

2. CCTV surveillance & alarms.

3. Dual key mechanism – bank + customer.

4. Restricted entry to locker rooms.

5. Biometric/digital access in select branches.

Customer Responsibilities

• Keep locker key safe; do not share.

• Inform bank immediately in case of key loss.

• Do not store prohibited items (arms, explosives, narcotics, illegal goods).

• Ensure rent payment and nominee details are up to date.