If you want to open a locker in SBI, first know these important rules - Newztezz Online


Tuesday, November 3, 2020

If you want to open a locker in SBI, first know these important rules


AHMEDABAD: There is a risk of keeping valuables including jewelery and documents at home. Many people open lockers in the bank to save such items. SBI, the country's largest bank, also offers lockers in different sizes. However, there are a few things you need to know before opening a locker.

Locker service is one of the different services offered by the bank. Only the person who opened the locker can open the locker himself or his heirs. In many cases there are also lockers in the name of Hindu undivided family, generations and trusts.

You must also have your bank account at the branch where you want to take the locker. As for SBI, it has hiked lockers from March 31. Locker fares vary in urban, rural, semi-urban as well as metro cities.

How much does a locker charge?

For example, the annual fare for opening a small size locker in a metro or urban area is Rs. 2,000. While the charge of large size locker is Rs 8,000 per year. GST has to be paid separately in this charge.

Small Locker
Urban Area - Rs. 2000 + GST
Rural Area - Rs. 1500 + GST

Medium Size Locker
Urban Area - Rs. 4000 + GST
Rural Area - Rs. 3000 + GST

Large Size Locker
Urban Area - Rs. 8000 + GST
Rural Area - Rs. 6000 + GST

XL Locker
Urban Area - Rs. 12,000 + GST
Rural Area - Rs. 9000 + GST

registration charge for
small and medium locker Rs. 500 + GST ​​for
Large and Extra Large Locker Rs. 1,000+ GST
(One Time Charge)

Locker Visit Charge
You can open a locker of any size 12 times a year for free, after which Rs. Feels 100+ GST.

What documents have to be provided?

You will need to provide KYC documents as well as photographs to open the locker.

Apart from this, the bank may also ask you to pay FD of three years rent of the locker and the amount of interest you can charge for breaking it. The bank may also seek your consent to have the locker charge deducted directly from your account.

Another important thing about lockers is that the bank does not operate the locker for one consecutive year (for high-risk category locker holders) or three years (for low-risk locker holders) even if the locker holder or his heirs pay the rent. May ask you to operate the locker immediately or surrender.

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