Bank Locker Rules: How much compensation will you get if things go missing from your bank locker, know the new rules..

Most banks in the country provide locker facilities to customers to keep their valuables. In return, banks charge rent from customers which is different from bank to bank. It is often seen that due to some reason, the goods kept in the bank locker disappear. How much compensation will the customers get in case of this? Let us know what are the rules regarding this.

How much compensation is given in case of theft from a bank locker? (theft from bank locker)
The bank locker should work properly (Bank Locker Rules) and the bank is responsible for its complete security. In such a situation, if your locker is damaged due to the negligence of the bank, then the bank will be responsible for it and you will be given appropriate compensation.

At the same time, if your goods disappear from the bank locker due to theft, robbery, and building collapse, then according to the rules, 100 times the amount of locker rent will be given to you as compensation by the bank. For example, if the rent of your lock is Rs 3,000, then if the goods disappear from the bank locker due to theft, robbery, and building collapse, you will be given Rs 3,00,000 as compensation.

According to the information given on the SBI website, it is the responsibility of the branch to ensure that there is no incident of theft, robbery, or building collapse in the bank premises. At the same time, if the goods disappear from the locker in the bank premises due to the above reasons or fraud committed by the employee, then the bank will compensate the customer 100 times the locker rent.

What happens if the locker becomes inactive? (locker inactive)
If a customer has taken a locker on rent and the rent is also being paid on time, but the locker has not been opened for more than seven years. In such a situation, the bank will consider the locker inactive. Then the nominee and legal heir will be called and the locker items will be transferred transparently.

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