Kerala Grameena Bank

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Safe Deposit Lockers

Safe Deposit Lockers facility is one of the subsidiary services rendered by the Bank at certain branches where safe deposit vaults are installed.

Who can hire a locker?

  • Lockers may be hired in the names of Individuals (single hirers)
  • Two or more individuals (joint hirers)
  • Non - Resident Indians
  • Firms
  • Companies
  • Associations or clubs
  • Trustees
  • Illiterates, individually or jointly with a literate/illiterate person.

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Features

  • A locker is operated by double lock system, the first key to be used being the MASTER KEY which is in the bank's possession and the second key being the HIRER'S KEY to be kept by the Hirer
  • The operative timings for safe deposit vaults / strong room should be allowed up to one hour after the closing of the business hour (excluding intervening lunch hour). On days when the branches work for half day, the locker operations will be upto business hours only.
  • Safe Deposit Locker can be opened by the minor individually duly represented by the natural guardian or jointly with natural guardian.

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Benefits

  • Less rent compared to other banks
  • Nomination facility available

How to Apply

  • The hirers should submit application in the prescribed and personally call at the Branch to sign the hire contract.
  • When a particular locker is allotted to an applicant, Safe Deposit Locker Agreement should be got executed by him in nonjudicial stamp paper of appropriate value.
  • Model agreement between bank and the customer - Click Here

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Rates & Charges

  • The rent of the lockers is fixed from time to time depending upon the size of the locker (small size, medium size and large size) and also considering the area where the branch is situated (Rural,Semiurban &Urban Area).
  • For more details visit Rates & Charges page

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Others

Instruction to nominees/legal heirs in case of death of locker hirer(s) - View


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