General Terms

1. Locker Allotment: Lockers are allocated based on availability.
2. Priority Customers: Preference is given to existing customers with Savings, Current, Cash Credit, Overdraft, or Term Deposit accounts.
3. Agreement: The terms and conditions for locker rental are detailed in an agreement, which must be signed according to bank policies.

Financial Terms

1. Advance Rent Payment: Locker rent must be paid in advance and is determined by the size of the locker.
2. Security Deposit: To ensure timely rent payments, customers are required to make a fixed deposit that covers three years of rent or Rs 5000 (whichever is higher) as a security deposit. Interest will be paid on this deposit as per the bank’s prevailing rates.
3. Penal Charges: Late rent payments will incur penal charges in accordance with bank policies.