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  • October 23,2019
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Locker Facility

  • Introduction

    Introduction

    Why avail a locker facility?
    Locker facility is made available to offer a safe, trustworthy space for storage of your valuables. These are made available in different sizes and the annualized rent charged varies as per the size of the locker.

    • At the time of hiring the locker, bank will obtain a minimum security deposit in the form of FDR from the lessee which will be decided by the bank from time to time.
    • The operating timings for the Safe Deposit Vault ends half an hour before the close of office hours on all working days.
    • Annual Locker rent is charged in advance uniformly in the month of April every year (for the full financial year i.e. 1st April -31st March).
    • Allotment of lockers is on first-come-first served basis.
    • The bank is not responsible for the contents kept in the locker.
    • The lessee(s) should not be allowed to deposit any goods of an explosive and destructive nature or use the locker for storing any contraband goods/ weapons.

    Who can avail locker facility?
    Safe Deposit locker facility can be availed on hire by any regular customer of the branch.

    • The locker facility may also be extended to illiterate persons.
    • The locker facility may also be extended to visually impaired person(s) who is/are customers of the branch having Savings Bank Account.
    • The joint locker holder should not be a visually impaired person.
    • At no point of time, the joint account holder, without the presence of the visually impaired account holder, be permitted to operate the locker.
  • Locker Rent

    Locker Rent

    S.No. Size of the Locker Charges w.e.f 01.02.2017
    R/Semi-U Urban/ Metro
    A. Small
    (Face area upto 50 sq. inches)    		 1000.00 1500.00
    B. Medium
    (Face Area 51 sq. inches to 100 sq. inches)     		2000.00 3000.00
    C. Large
    (Face area 101 - 200 sq. inches)     		2500.00 5000.00
    D. Very Large
    (Face area above 201- 300 sq. inches)     		5000.00 7500.00
    E. Extra Large
    (Face area above 300 sq inches)     		10000.00 10000.00
    * For staff-75% concession on applicable rent.

    Concession in rent by in case of advance payment of rent 10% in case of advance payment of rent for three years in addition to the security deposit for timely realization of locker rent .In addition to above, if a customer is a senior citizen and is maintaining quarterly average balance of ₹ 50000 and above can avail a discount of 10% on locker facility. Concessions to Staff Members: Locker is permitted to be let out to staff/ to honorably retiring/ retired staff members of our bank at 25% of the normal rates. However, only one locker at the Bank level, shall be allotted to the staff members and honorably retiring/retired staff members’ at a concessional rate as above and if the members referred to above require another locker the same shall be let out at the full rates.
    Penalty For Delayed Paymen Of Locker Rent 1st Qtr - 10% of annual rent
    2nd Qtr - 25% of annual rent
    3rd Qtr - 40% of annual rent
    1st Year - 50% of annual rent
    For more than 1 Year Locker to be broken
    Restriction on Number of No. of locker visits per year-15 visits per year free;
    Operations Thereafter 100/- per visit.
    Therefore, while issuing new locker the branches are advised to include the following clause in the locker lease register.
    “I /We agree to pay 100/- per operation beyond 15 operations in a financial year”
    Misc Drill Opening:
    Actuals + ₹500/- towards incidental charges
    Duplicate Keys :Actuals + ₹500/- towards incidental charges
  • Refund of Locker Rent

    Refund of Locker Rent

    Minimum Period of Locker facility is One Year and in case of Surrender of Locker, Refund of the Locker Rent, if any, shall be paid for the Complete Quarters left as on the Date of Surrender of Locker, for which Locker Rent has already been received in advance e.g. in case a Locker hirer has paid Locker Rent in advance say upto 31.03.2012 and Locker is surrendered before the end of the quarter 30.09.2011, the Locker Rent refundable shall be on pro rata basis for 2 Quarters i.e. for the Complete Quarters ending Dec. 11 and March 12.

    Other

    • The customers, who have defaulted in payment of Locker Rent, will not be allowed to operate the lockers till the rent in arrears is cleared.
    • Loan/Overdraft facility will not be allowed against such fixed deposit receipts kept as security.
    • The operating timings for the Safe Deposit Vault ends half an hour before the close of office hours on all working days.
    • People in drunken state must not be allowed to have an access to the vault nor will they be permitted to operate on their lockers.
    • The number of operation of Locker is restricted to 15 times in a financial year. For operations beyond 15 in a financial year, additional service charge of Rs.100/- per operation be recovered before allowing such any operation of the locker.
    • The affairs of Lockers/lessees, even their very names, are held in strict secrecy.

    SEALING OF LOCKERS /ATTACHEMENT/PROHIBITORY ORDERS

    • Sometimes Income Tax or other Enforcement Department authorized officials give directions not to allow operation on a particular locker, which they suspect to contain smuggled, stolen or such property. In no case operation on the locker be allowed, till the instructions are withdrawn in writing by the authorized official of the concerned department.
    • In cases where the lockers remain un-operated for more than three years for medium risk category or one year for a higher risk category, the locker hirer should be immediately contacted and advised to either operate the locker or surrender it. This exercise should be carried out even if the locker hirer is paying the rent regularly.
    • It must be noted with care that the authority in favour of a mandate holder/ An Authorized Person, ceases with the death of the principal. The mandate holder/ Authorized Person appointed by him/ her, during his/ her lifetime, must not be allowed to operate the locker, after the death of the lessee.
    • The relationship between the Bank and the lessee shall be that of a “landlord” and “tenant” and not that of a ‘bailer’ and ‘bailee.’ The Bank has no responsibility of any kind, whatsoever, in respect of the contents of the locker ,nor shall the Bank held responsible for any loss or damage to the same, arising from any cause whatsoever, Hirers are advised in their own interest to insure any items of value deposited in the safe deposit locker with the Bank.
  • FAQ's

    1. I do not have an account with OBC.Can I apply for locker?

    Yes. You can register for locker on our website but to lease locker you will need to have a saving/Current account with OBC. You can open your account simultaneously by submitting KYC documents once.

    2. Do I need to have Saving/Current account necessarily at the Branch where I am interested in leasing locker?

    You can have your account in one Branch and locker in another Branch. Moreover, if you desire to transfer your account from one Branch to another Branch owing to operational convenience, that can also be done by putting a request to either Branch.

    3. Can Locker be hired by blind and illiterate persons?

    Yes.For futher detail contact Branch Manager.

    4. Can locker be hired by Club, Society, Company, Trust or Associations?

    Yes, kindly contact Branch for further details.

    5. I cannot find the Branch I am looking for?

    It might be possible that there is no locker facility in the Branch you are looking for.You can search for a nearby different Branch. You can find the phone number of the Branch in “Find my Branch”page and verify the same by calling/visiting them.

    6. Why is my locker not guaranteed even after I have registered?

    As the locker availability is not real time, there might be some inconsistency as far as displayed locker availability is concernd.The Branch will let you know the exact position within next working day of your registration.

    7. I have received the registration number, what do I need to do now?

    The Branch will give you a verification call within two working days with details of how to proceed with the hiring of locker.Alternately you can contact the Branch for which you have registered the request.

    8. What are the charges for hiring and operating the lockers?

    Size-wise locker rent is listed on our website.

    9. What are requirements for hiring locker?

    An application/request letter along-with photograph is required to avail the locker facility. For further details, contact Branch.

    10. Can I authorize any person to operate locker on my behalf?

    Yes subject to fulfillment of certain conditions. Kindly contact Branch for details.

    11. What will be the timings for locker operations?

    As per practice in vogue, the operating timings for the Safe Deposit Vault shall end half an hour before the close of office hours on all working days.

    12. Is locker rent refundable in case of surrender of lockers?

    Minimum Period of Locker facility shall be One Year and in case of Surrender of Locker, Refund of the Locker Rent, if any, shall be paid for the Complete Quarters left as on the Date of Surrender of Locker, for which Locker Rent has already been received in advance e.g. in case a Locker hirer has paid Locker Rent in advance say upto 31.03.2012 and Locker is surrendered before the end of the quarter 30.09.2011, the Locker Rent refundable shall be only for remaining 2 complete quarters i.e. quarters ending Dec’11 and Mar’12.

    13. Is there any penalty on late payment of locker rent?

    There is penalty on late payment of locker rent as below:

    Delay in payment of Locker Rent Penalty
    1st Qtr - 10% of annual rent
    2nd Qtr - 25% of annual rent
    3rd Qtr - 40% of annual rent
    1st Year - 50% of annual rent
    For more than 1 Year Locker to be broken

    14. Is there any limit on number of locker operations?

    The number of operations of locker is a maximum of 15 times in a financial year. For operations beyond 15 times in a financial year, additional service charge of Rs.100/- per operation will be charged.

    15. Can I put a padlock on the locker I have hired?

    Yes, if you desire you can put a padlock on your locker.

    16. What is the procedure to surrender locker?

    To surrender the locker, written request with signature of all stake holders should be submitted in Branch.

    17. I have moved to a new place, can I transfer my locker to a nearby Branch?

    You can surrender the locker at your Branch and hire a new locker at the new Branch subject to availability.There is no transferring of locker facility available.

    18. Is there nomination facility on lockers?

    Yes. For further detail, contact Branch.

    19. What is the frequency and date of locker rent collection by the Bank?

    Locker rent is collected in advance for the full year in the month of April and for remaining quarter at the time of hiring.

    20. Why am I asked to make a deposit?

    Though deposit is not mandatory, the fixed deposit is obtained to cover the three years’ rent, the prevalent charges levied by the manufacturer for breaking open of the locker and cost of replacement of the Lock, in case of an eventuality.

    21. What will happen if I lose my locker key?

    Branch should be immediately informed in writing about the loss of key.The break open of locker and replacement of keys will be done in presence of locker holder.The cost of break open of locker and replacement of key will be borne by locker holder.

    22. Can locker be issued in joint names?

    Yes. For further detail contact Branch Manager.

    23. I have registered for locker services on your website utility, but now I have changed my mind and I do not need that, what should I do?

    You can apprise the Branch official during his call to you. Moreover, the registration number is automatically deactivated after 72 hour.

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