Agreement For Hiring Of Safe Deposit Locker Icici Bank

So if I pay a record fee, I hire it, I own it or I rent it? That`s probably the most important thing. Every bank needs you to open a savings account before they cut you a locker. And of course, there is a savings account with the usual documents needed – Aadhar Card, Pan Card/Form 60- KYC (Know your customer) Set of documents. Can the bank close your bank vault due to inactivity, even if the rent is paid? A deposit contract is an agreement between the locker renter and the bank. He creates the relationship between Bailor and Bailee between the bank and the customer. To do this, the customer accepts the basic terms of the contract – for example. B the non-storage of illegal items in the locker, the regular payment of taxes in the locker, etc. It is a mandatory document that varies slightly from bank to bank. You could say it`s like the locker opening form. Here are the conditions/conditions and conditions for opening a bank box The locker only opens if the two keys are used together. Thus, a banker accompanies the client in the locker room, inserted his keys with the customers and opened the locker.

Then he takes his key and leaves the room. Bank locker operation regulations of the Reserve Bank of India (RBI) says it operates the bank at least once a year, otherwise the bank can open it. If the deposit has not been operated for a continuous period of 1 year by a high-risk profile tenant or for a continuous period of 3 years by an average risk profile tenant, then the bank has the power to insist to the tenant to operate the locker immediately. It is also necessary for the bank to send you a notice inviting you to either operate the bank`s green safe or deposit it. If the key is lost, the bank breaks the safe and pays for the customer`s costs. Then a new lock is installed on the locker and a new set of keys is given to the customer. What happens if there is a bank robbery or theft where the lockers are compromised? Let`s start by understanding what the concept of a locker is. A locker is a metal box in which the bank allows you to keep your belongings in exchange for an annual fee. It is usually held in strong rooms in the bench, with heavy metal doors. The bank only gives one key to the locker rental company, even if the locker is removed under a common name.

The key is a very important part of the locker agreement and must be carefully preserved. If lost/displaced/stolen, the customer is required to notify the bank immediately. During the year, up to 12 visits are free, after which banks charge 200 Rs. plus GST each time. These additional fees are deducted from the debitor`s bank account. This clause may vary from bank to bank. The break is ensured by the company that has a contract with the bank for the installation and maintenance of the lockers. In accordance with the RBI`s rules in this area, banks cannot require a customer to purchase FDs to rent lockers of their own. However, banks are allowed to take a money deposit warning – cover three years in advance and the customer`s locker breakage fees. Most of the time, it is therefore appropriate for the client to take this in the form of FD, where he continues to earn interest for him.

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