You must use the locker at least once a year. The bank can seal your locker if it is not served. If the bank`s objection is ignored, it has the right to cancel the allocation of the record, even if the rent is regularly paid. We cannot keep at home all our valuables, gold or diamond jewelry, important documents and cash, as they are not safe at all due to the possibilities of theft. As a good alternative, opening a bank safe is very useful. Several banks offer safe deposit box possibilities, for example.B. SBI bank safe, ICICI safe, etc. Bank vaults are obviously not free. If you think that since you have a bank account in a given bank, it provides free bank safes, then this is not the case. This is also the reason why you are often put on a waiting list (about six months to a year) before receiving a safe if you want to open a safe at a bank other than the one where you have a savings account. You should try to use a safe with a bank branch where you have an account and you are close to where you live.

The bank locker operation regulations of the Reserve Bank of India (RBI) stipulate that the bank must be operated at least once a year, otherwise the bank will be able to open it. If the safe has not been operated by a high-risk tenant for an uninterrupted period of 1 year or for an uninterrupted period of 3 years by a tenant with a medium risk profile, the bank is entitled to insist on the tenant to immediately operate the locker. It is also necessary for the bank to send you a notice inviting you either to use the bank safe or to deposit it. There are some of the operating conditions of bank vaults, in which the tenant is required to use the locker. Here is the step-by-step process for the operation of bank Locker in India: If you have any complaints about these bundled investment programs that you insist on requesting the allocation of a safe, contact the bank`s customer enforcement department. If there is no response from the bank within 30 days, you can escalate the complaint to the banking ombudsman. You must open a savings/current account with a bank if you do not already have one, pay the rent for the financial year in advance and deposit a fixed deposit covering the rental costs for three years. . . .