Safe Locker

A safe locker facility, primarily offered by banks in all branches, provides secure, rented storage for valuables like jewelry, gold, and important documents, protected in reinforced vaults against theft, fire, and disasters, with access limited to the customer (and nominee) during banking hours via dual keys and strict procedures.

How Bank Safe Deposit Lockers Work:

• Rental: You rent a locker from a bank, paying an annual fee in advance, with options for different sizes.
• Access: You get a key, and the bank keeps a master key. Access requires both keys (yours and the bank's) and is restricted to banking hours and vault areas.
• Privacy: Usually, only one customer/person is allowed in the vault at a time for privacy.
• Security Deposit: A sum equivalent to three times the rent is necessary to maintain a fixed deposit as security deposit
• Nomination: You can appoint a nominee (or two for joint lockers) for smooth transfer in case of the holder's death, following RBI guidelines.

Key Features:

• Security: Offers superior protection compared to home storage.
• Variety: Available in multiple sizes (small, medium, large).
• Regulation: Governed by RBI instructions, with clear policies for operations.