Bank Locker Rule: If you have a locker or are thinking of opening one, then first read the new updates from RBI..

We are often afraid to keep our jewelry or any important document at home or keep it safe with someone else. We are afraid that if it is lost, stolen, or burnt, then the savings of a lifetime will go to waste. In such a situation, a bank locker is a very good option for the security of all these.

If you are planning to get a bank locker or you have one, then today we will tell you about the new update of the Reserve Bank of India. Before telling you about these new updates, let us tell you that the rules of bank locker are decided by RBI itself. RBI has recently issued a guideline making some changes in the rules of bank locker.

What are the new guidelines?
RBI has told the process of renewing the locker. According to the new guidelines, by December 31, 2023, the revised agreement will have to be signed and deposited in the bank.

Can you open a bank locker?
Many people have a question who gets a bank locker? RBI said that bank locker is available only to those account holders who have a savings account or Current Account in the bank. If a customer wants to open a bank locker, then only a PAN card or Aadhaar card is required for that. Apart from this, address proof also has to be submitted.

Other things related to bank locker rules
There is an agreement between the bank and the customer to get a locker. The locker is allotted only after signing these agreements.

What will be the size of the locker? This is decided by the customer. Although bank lockers are single-tiered or multi-tiered.

When the locker is opened, the bank gives the key of a specific number to the customer and keeps its master key with itself.

The amount of rent charged on a locker is decided based on the size of the locker and the location of the bank. However, as soon as the locker is opened, the bank takes a security deposit from the customer. This deposit can be deposited in the form of a fixed deposit or cash amount.

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