New Rule: Attention bank locker users, has the rule regarding locker changed?

Many major banking rules are set to change in the country starting in November, after Diwali. One of these significant changes concerns bank lockers. Yes, if you use a bank locker to keep your precious jewelry, important documents, or other valuables safe, then this news is very important for you. Effective November 1, 2025, the rules related to bank lockers are set to change, to strengthen security and prevent future disputes.

What used to happen before?

Previously, if a locker holder died, family members would often face disputes or difficulties regarding the locker. Often, due to the lack of a set procedure in place at the bank, it would take months to open the locker. To address this issue, the government has implemented a priority list system.

What does the new rule say?

It's important to note that every locker holder will now be required to submit a priority list. This means that the person who acquires the locker will provide a written list of the people entitled to open the locker after their death. A minimum of four names can now be included on this list, but all four will not be able to open the locker simultaneously.

This list will function like a ladder—
Only the first person listed will be entitled to open the locker.
If they are unavailable, the second person will be eligible.
Similarly, the third and fourth names will apply in that order.
This is done so that only one person has authority at a time, preventing family disputes, conflicts, or legal battles.

Why were these changes necessary?

For years, complaints have been circulating about the banking system, stating that unclear rules regarding nominations and claims have caused difficulties for ordinary people. Furthermore, tensions often escalate within families regarding property division or documentation. This new rule will:

Simplify the process
Save time
Increase transparency
And reduce disputes

Another significant change is that customers can now allocate their savings to different nominees by percentage. This means that, instead of 100% of your total deposit, your chosen nominee can receive the percentage you specify. This will eliminate confusion regarding anyone's rights.

Conclusion on Bank Lockers
The new rules have been designed with the safety and convenience of the public in mind. Now, owning a bank locker will be safer, easier, and more clearly visible than ever before. So, if you have a locker, be sure to visit the bank soon and update your priority list. This step can save your family from stress and hassle in the future.

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