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What is locker agreement?

The locker rental agreement includes all the terms and conditions, locker rates that vary based on location of branch and size of the lockers, and the responsibilities of the bank and customer. To maintain your bank locker, the bank charges an annual rent, and the locker rent is payable in advance.

What is the rule of bank locker?

Bank locker rules in case of theft state that the bank will be held responsible for any loss of your locker contents caused by theft, burglary, or robbery. The bank shall be liable to pay you 100 times the prevailing safe deposit locker annual rent.

Is that FD required for locker in SBI?

FD or savings account is mandatory for bank locker, know the rules of RBI, there will be no problem.

What is rule of locker in bank?

Bank locker rules in case of theft state that the bank will be held responsible for any loss of your locker contents caused by theft, burglary, or robbery. The bank shall be liable to pay you 100 times the prevailing safe deposit locker annual rent.

What is the process of locker?

It is mandatory to register nomination for the locker. If there is no nominee, the legal heir typically gets access to the locker. If one wishes to close the locker, he/she can apply to surrender it. The customer needs to empty the locker and return the key to the bank.

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Is FD required for bank locker?

408C(L) \u2013 84 dated March 27, 1984, the public sector banks were advised not to insist for a fixed deposit as a prerequisite for allotment of lockers.

Is FD mandatory for locker in PNB?

Few consumers, though, are aware that such a demand is in violation of a Reserve Bank of India circular issued in 1984. According to the circular, public sector banks (there were no private banks back then) cannot insist on a fixed deposit as a prerequisite for allotting lockers.

Is FD mandatory for locker?

408C(L) \u2013 84 dated March 27, 1984, the public sector banks were advised not to insist for a fixed deposit as a prerequisite for allotment of lockers.

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What is locker agreement?

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What is the process of locker?

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Is FD required for bank locker?

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Is FD mandatory for locker?

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