Are you planning to rent a locker? Or already using Bank Locker? If yes, then in this news we will provide you all the information related to bank locker. You can know here how it can be taken advantage of and what are the rules related to it. First of all, you must know about the locker rules of the Reserve Bank of India (RBI).
In fact, with the beginning of the new year on January 1, 2023, the Reserve Bank has changed the rules related to lockers. After the implementation of this rule, banks will not be able to do arbitrariness with the customers regarding the locker.
If there is a lot of damage to the goods kept in the locker, then the responsibility of the bank will now be fixed. Apart from this, now customers will have to sign an agreement with the bank. Through this, customers will have to inform the bank about the change in locker rules through SMS and other means. So let’s know everything about it…
How can I get the locker?
You will have to give an application to the branch where you want to open the locker. Locker facility is provided on first come first serve basis. If your name is on the waiting list, you will be eligible once a user has left the locker. For this, it is also necessary to have a minimum amount in the bank account and annual rent is charged from the account.
How much is the charge?
Depending on the size and location of the locker, its annual charges are also fixed. It can be different in all banks. The charge of bank locker in SBI ranges from 2 thousand to 12 thousand. PNB charges from 1250 to 10 thousand rupees for bank locker. This charge in Canara Bank ranges from 2 thousand to 10 thousand. In HDFC, this charge ranges from 3 thousand to 20 thousand. In ICICI Bank, this charge starts from Rs 1200 and goes up to Rs 5000.
Under what conditions does the bank give compensation?
As per the new norms of RBI, if there is any damage to the contents kept in the locker due to the negligence of the bank, then the bank will have to pay for it. It is the responsibility of the banks to take all steps for the security of the premises in which the safe deposit vaults are kept. If the loss is due to fraud committed by the bank’s employees, the bank’s liability will be up to 100 times the annual rent of the locker.
Agreement will have to be done for renewal
Before January 1, 2023, locker holders will have to show eligibility for new locker agreement and will have to enter into an agreement for renewal. ‘As per RBI guidelines, the new locker agreement is to be executed before 31 December 2022.’
