Bank of India Locker Charges

Firstly, lets see how to open a safe deposit locker in Bank of India.

How to Open Bank of India Locker

Visit your home branch of BOI and fill an application to open a locker and submit then you need to pay 1 year rent as deposit charges for opening a locker. And you need below documents

1. KYC documents
2. Passport size Photograph
3. Current or Savings account
4. Security Deposit
5. Locker Agreement

BOI Locker Charges

Currently, bank of India has 11 types of safe deposit lockers and the Locker price charges vary based on the branch location, see below.

Annual Locker Rent Charges:

Note: If you paying advance for 2 years or more then you get 10% discount.

Important: For Bank of India Staff/Employees locker charges will be less than normal customers.

Bank of India Free Locker Visits

In one year you can visit your BOI locker 12 times for free.

After 12 free visits are completed than Rs 100 is charged for each visit to the locker.

Bank of India Locker Visit Timings

The Hirer can operate the Safe Deposit Locker only on Bank’s working days and during business hours.

Lost BOI Locker Keys

If you have lost your BOI safe deposit locker keys then immediately report to BOI branch.

For Loss of key / Drill Rs 750 is charged + Actual Charges

Locker Penal Charges for overdue rent:

Upto first quarter: 10% of annual rent.
Upto two quarters: 25%
Upto three quarters: 40%
Upto four quarters: 50%.

More than one year then 100% of annual rent.

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United Bank of India Locker Charges

UBI Locker Charges

United Bank of India Service Charge for Locker rent varies based on the size of the locker and the location of the locker.

Currently United Bank of India has 10 types of Locker Type. See below for locker charges and locker sizes.

UBI Free Locker Visits

In one year you can do 24 free visits or operations. After 24 free visits you will be charged Rs 100 per every visit.

Operations in the locker will be stopped if rent is not paid on due date.

How to Open UBI Locker

Visit the home branch where you have the UBI account and request them for opening of a safe deposit locker, pay the deposit charges and open.

Lost UBI Locker Keys

If you have lost the keys of your safe deposit locker then you need to immediately inform the branch.

And a service charge of Rs 520 has to be paid and actual expenditure incurred in breaking open the locker and changing of key by manufacturer of locker to be recovered manually.

Penal Charges for Locker Rent in Default:

For A, B, C, D Locker size Rs 70 per quarter
For H1,E,F,G Locker size Rs 90 per quarter
For H,L Locker size Rs 150 per quarter

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Allahabad Bank Locker Charges

How to Open Allahabad Bank Locker?

Visit Allahabad bank branch where you have account and write an application for opening a deposit locker. Carry your bank account passbook and other account details.

You need to do Locker registration charge for opening a locker this is one time charge, and the Registration charges varies based on the locker size. For Small Rs 300, for medium/large Rs 700 and for extra large lockers Rs 1000 are the registration charges.

Annual Locker Rent Charges

Locker price varies based on the size of the locker and the location of the locker For Metro/Urban Branch and Semi Urban/Rural Branch locker charges varies.

Allahabad Bank Locker Size

Free Locker Visits

In a year 15 free visits you can do and after that Rs 100 per visit is charged. There is no limit on paid visits to the locker.

Only the locker owner and the name mentioned while opening the locker is allowed to the locker room.

What to do incase of lost locker keys?

Loss of Locker Keys

If you have lost your Allahabad bank locker keys then you need to pay Locker rent of one year + actual cost of repairing .

Penalty Charges for not paying annual charges for Small & medium Rs 70, for large Rs 100, for VL & EL Rs 160 per quarter is charged.

Any default or not maintaining the requisite balance in the Account will attract penalty charges.

How to Add a member name to Security Locker?

For any addition, deletion or modification of name to the locker then Rs 150 is charged.

The locker rents are to be paid in the first Quarter of the financial year which is within 30th June.

Note: For Allahabad bank employees there is 50% off on the Locker registration charge.

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OBC Locker Charges

Currently Oriental Bank of Commerce OBC has 5 types of lockers based on the size they are Small, Medium, Large, Very Large and Extra Large Lockers.

OBC Small Locker Charges

OBC Small security locker size is 50 sq.inches and locker annual rent charges are Rs 1000 in Rural, Semi Urban areas and Rs 1500 for Urban and Metro Areas.

OBC Medium Locker Charges and Size

Medium locker size has face area of 51 sq. inches to 100 sq. inches.

Charges for OBC Medium lockers annually are Rs 2000 in Rural/Semi Urban areas and Rs 3000 in Urban/Metro Areas.

OBC Large Locker Charges

Size of large security locker is 101 to 200 sq inches.

Large locker charges are Rs 2500 in Rural/Semi Urban areas and Rs 5000 in Urban/Metro areas.

OBC Very Large Locker Size and Charges

OBC very large locker size has face area of above 201-300 sq. inches.

Very large locker charges per year is Rs 5000 in Rural or Semi Urban Areas and Rs 7500 in Urban and Metro areas.

OBC Extra Large Locker

OBC Extra Large Locker size is above 300 sq inches.

Yearly Charges for Very Large Locker size is Rs 10000 in Rural/Semi areas and Rs 10000 for Urban/Metro areas.

OBC Free Locker Visits

Oriental Bank of Commerce gives 15 free visits for locker in an year and if you are visiting after free visit then Rs 100 per visit will be charged.

There is no Restriction On Number Of Operations or visits if you pay charges after 15 visits.

Concession for Lockers

If you pay advance payment for 3 years you get 10% discount on locker charges.

If a customer is a senior citizen and is maintaining quarterly average balance of Rs. 50000 and above can avail a discount of 10% on locker facility.

Lost OBC Locker Keys

If you have lost the locker keys you need to visit the branch they will drill the locker and some charges are applied.

OBC Duplicate Keys charges are Actual + Rs 500 towards incidental charges.

Penalty For Delayed Payment Of Locker Rent

If you have delayed payment for locker rent charge then there will a penalty levied as below

For 1st Quarter 10% of annual rent

For 2nd Quarter 25% of annual rent

For 3rd Quarter 40% of annual rent

For 1 Year 50% of annual rent

For more than 1 year Locker will be broken

Note: Minimum Period of Locker facility shall be One Year and for Surrender of Locker, Refund of the Locker Rent amount depends on the time you are surrendering.

The post Oriental Bank of Commerce Locker Charges, Locker Size, Deposit Charges, Annual Charges and Other Details appeared first on TechAccent.

Union Bank of India has 11 types of Safe Deposit Security Lockers and the price and charges depends on the size of the locker and location of the branch like Rural or Semi-urban or Urban or Metro areas.

Union Bank of India Locker Charges

You can open Safe Deposit Locker at your home branch of Union Bank of India account and it can be opened by individuals – either singly or jointly, Partnership Firms, Companies, Associations and Clubs. Check below how to open security deposit locker below.

For opening a locker you have to pay 3 years rent in advance and the amount is based on the size of the locker.

How to Open Union Bank of India Locker

Visit the branch and fill the security locker opening document and submit to the branch authority along with below list of copies KYC documents, Passport size Photograph, Current or Savings account Passbook, Security Deposit, Locker Agreement.

Note: You need to pay advance amount of 3 years on the type of locker you are opting for.

Penal interest @ 18% on rent overdue with the minimum of Rs.5 will be levied.

Lost Union Bank Of India Locker Keys

If for any reason you have lost your Union bank of India security deposit locker key then you need to visit the branch .

Loss of Safe Deposit Locker Key:

Charges for loss of locker key is Rs 1000 + Rs 180 (18% GST) = Rs 1180

UBI branch will break the locker in front of you and issue a new locker key.

How many Times You Can Open Locker for Free

You can visit the branch and open your locker only 12 times per year and if you want to open more than 12 free operations then there will be some charges applicable.

Per each extra operation you need to Pay Rs 50 + Rs 9 GST(18%) = Rs 59

If the locker is surrendered before 3 years you get your deposit amount back for example if you are surrendering after 1 year 5 months then you get only 1 year deposit amount back.

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Syndicate Bank Locker Charges

Syndicate Locker Rent

Small Locker Charges:

For Syndicate Bank Small Locker in Metro Cities Rs 2000, Urban or Semi Urban Rs 1500 and in Rural areas Rs 1000 per annum(yearly charges).

Medium Locker Charges:

In Metro cities Rs 4000, Urban/Semi Urban Rs 3000 and in Rural areas Rs 2000.

Large Locker Charges:

In Metro cities Rs 7000, Urban/Semi Urban Rs 6000 and in Rural areas Rs 4000.

Very Large Security Locker Charges:

In Metro cities Rs 10000, Urban/Semi Urban Rs 8000 and in Rural areas Rs 6000.

While opening a syndicate locker you also need to make Locker Security Deposit based on the type of the locker, see below for the Locker Security Deposit charges.

Syndicate Locker Deposit Charges

Locker Security Deposit

Small Locker Security Deposit Charges:

Locker Security Deposit for Syndicate Bank Small Locker in Metro Cities Rs 12000, Urban or Semi Urban Rs 10000 and in Rural areas Rs 8000 per annum(yearly charges).

Medium Locker Security Deposit Charges:

In Metro cities Rs 15000, Urban/Semi Urban Rs 14000 and in Rural areas Rs 10000.

Large Locker Security Deposit Charges:

In Metro cities Rs 20000, Urban/Semi Urban Rs 20000 and in Rural areas Rs 15000.

Very Large Security Locker Deposit Charges:

In Metro cities Rs 25000, Urban/Semi Urban Rs 25000 and in Rural areas Rs 20000.

How to Open Syndicate Bank Security Locker

Visit your syndicate bank home branch and write a letter and fill the form to open security deposit locker and make a deposit based on the locker size and avail the service.

Syndicate bank locker charges concession:

If you are a holder of Synd Supreme account then you get 25% discount on Locker Rent for Small and Medium Lockers in all syndicate branches.

How many times you can visit for locker?

Upto 24 times its free in a year, there after Service charge of Rs 20 + GST is charged per operation/visit.

Note: Above mentioned charges are effective from 1st February 2019 year.

One time locker registration charge of Rs 400 + GST is applicable.

What to do for Lost Syndicate Bank Locker Keys

If you have lost the locker keys then visit the branch and inform the same then for the Loss of the locker keys Rs 750 + GST is charged and in addition to actual expenditure incurred for break open and replacement of the lock and keys.

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