Safe Deposit Vaults (Lockers) / Articles in Safe Custody

The facility of Safe Deposit Lockers is an ancillary service offered by the Bank. The Bank's branches offering this Facility will indicate/display this information.

The major aspects governing the services are :

• A locker may be hired by an individual (not minor), firms, limited company, specified associations, societies, etc.
• Nomination facility is available to individual hirer of Safe Deposit Locker.
  
• Loss of Key should be immediately informed to the Branch.
  
• Lockers are available in different sizes.
  
• Lockers are rented out for a minimum period of one year. Rent is payable in advance. In case of overdue rent, the Bank will charge penalty as decided from time to time.
  
• With standing instruction, the rent may be paid from the deposit account of the hirer.
  
• The Bank will hire locker to properly introduced persons.
• The Bank reserves its right to break open the locker if the rent is not paid inspite of giving notices as per the Bank rules and recover charges thereof.

The facility of safe deposit vault is available to customers having SF/CA account with us. Bank provides four types of lockers i.e. Small, Medium, Large and Extra Large with varying rents. For availing the above facility, the customer has to deposit a prescribed amount in fixed deposit for a minimum period of three years for meeting the annual rent of the locker out of interest.

Articles in Safe Custody
Articles like shares, securities, etc. can be kept in safe custody with the Bank on prescribed charges wherever such facility is offered. Large/small boxes must be locked by the customer(s) and particulars must be written/painted thereon. The lock should be covered by stout cloth and sealed with the customer's seal. Relationship of Banker and customer shall be that of Bailer and Bailee.

Nomination : Safety Locker

• In the case of a sole hirer of a safety locker, nomination can be made in favour of only one individual.
  
• Where the safety locker is hired from the bank by two or more individuals, nomination can be made in favour of one or more persons.
  
• Change or cancellation in the nomination in case of safety lockers hired by two individuals jointly, can be made only by all the safety locker hirers jointly.
  
• Where the safety locker is hired in the name of a minor, the nomination shall be made by a person lawfully entitled to act on behalf of the minor.

Nomination : Safe Custody of Articles

• Nomination can be made in favour of one individual only.
  
• Where the nominee is a minor, the customer shall, while making th