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Safe Deposit Locker: Know what can and cannot be kept in a bank locker - what do the new rules of RBI say?

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If you are also looking for a place to keep your valuables safe, where your special things can remain completely safe, then Bank Locker can be useful for you. Due to its strong security, it is also called Safe Deposit Locker. Let us know which things can be kept in a bank locker and which cannot. What is its charge? Also, what security arrangements are there in it?

How much do you charge for a locker? (How much do you charge for a locker?)

This largely depends on the size of the locker and the location of the bank. Charges also vary according to banks.

For example, the country's largest public sector bank SBI charges Rs 2000 + GST from urban and metro customers as its small locker rent charge. Whereas for rural and semi-urban customers this amount becomes Rs 1500 + GST.

For the largest i.e. XL locker, SBI charges Rs 12,000 + GST from urban and metro customers. For rural and semi-urban customers this amount is Rs 9,000 GST.

What can be kept in a bank locker and what not? (bank locker rules)

Bank lockers can be used only for legitimate purposes. Meaning that weapons, explosives, or drugs cannot be kept in it at all. You can keep valuables like jewelery and documents in it, but not cash. If there is any rotting item, it cannot be kept in the locker.

What are the security arrangements for bank lockers? (bank locker security)

Two keys are required to open a bank locker. One is with the customer, the other with the bank manager. If you have to open the locker, both the keys will have to be used together.

What if the key is lost?

If the key is lost, the bank will have to be immediately informed and an FIR will also have to be lodged. In this case, the bank can make you a duplicate key of the locker. But, there is a risk of misuse of the locker.

In the second case, the bank will break your locker and shift the goods to a new locker. However, the customer may have to bear the entire expense from locker breakage to repair.

Can the bank itself break the lock?

If a person is facing a criminal case, his locker may be broken into in the presence of the police as part of the investigation. If the rent of the locker is not paid for a long time or remains non-operative, the bank can still recover its rent by demolishing it.

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