Terms And Regulations


  • A person either in his sole name or in the joint names or himself and another can rent locker. In the case of a sole renter the renter and in the name of the joint renters either of them shall have access to the lockers unless instruction to the person.
  • A renter is also permitted to nominate an agent to have access to the lockers on his behalf provided such authority in the favor of the agent is given in written and is recorded in the books of the safe deposit department of the bank. In the case of joint renters both should sign such authority to the agent.
  • In the case of the death of one of the two joint renters the survivor alone and in the case of the death of a sole renter or the survivor of two joint renters, his legal representative along shall be entitled to have access to the locker. In case there are more than one legal representative they should nominate one from among them selves to have access to the locker.
  • All rents are payable in advance
  • A deposit of rupees 250/-per locker shall be payable at the time of renting. This is returnable when the locker is vacated and the key of the locker is returned in good condition and there are no arrears of rent or charges due by the renter.
  • The lease of a locker will terminate at new on the day of expiry of the lease, when the renter should deliver the key of the locker to the custodian of the vault.
  • Either party may terminate the agreement on giving the others seven days previous notice in writing prior to the date on which the agreed period of hiring terminates ,of such intention and the keys of the locker,shall,in such case, be surrendered by the renter to the bank during the working hours on the day of termination of the lease. if no such notice as aforesaid has been given, the hiring of the locker shall be considered as renewed but this condition is without prejudice to the rights of the bank accrued in the mean time.
  • If any rents or charges are in arrears, the bank reserves the right to refuse to the renter access to the lockers.
  • On failure to pay rents in advance or to re-deliver possession of the locker with key, the bank will be at liberty either to allow the renter to remain in occupation of the locker or, after due notice, the break open the locker and remove the contents to some other safe or locker without being liable for any loss or damage caused to the contents there by.
  • The renter shall pay to the bank for such use and occupation such sums as the bank may demand not exceeding twice the rent for the period under compulsory use and occupation and also the charges and costs incurred by the bank for opening the locker and reinstating the same to its original condition.
  • In the cases where the bank decides to break open a locker under clause 8, the bank may, at its discretion instead of placing the contents in another locker or safe, forward them to the renter, at the renters sole risk and responsibility by insured parcel post or by other reasonable means to the last address given by the renter to the safe deposit department of the bank.
  • The renter shall undertake to keep the keys of the lockers in a place of safety and not to divide the number of the key and the locker and the password (if any given) and not to deliver the key to any other person from the duly authorized agent.
  • Should a renter the safe deposit department of the bank should be immediately notified so that the keyhole of the particular locker may be closed lose the key of a locker. The locker will be broken open in the presents of the officer and the contents protected by transferred to another locker. The charges for fitting up a new lock to the locker the key of which key have been lost or miss-laid by renter will have to born by the renter.
  • Any work to be done to the locker under any of these clauses will be arranged for only by the bank and will be done exclusively by men appointed by them.
  • The renter shall not assign or sublet a locker or any part of it. No such assignment or the bank will recognize subletting.
  • Lockers are to be used only for the deposit of valuable or other properties and on no accounts should renter deposit any substance of an explosive or destructive nature in the locker and any renter who commits a breach of these condition will be hold liable for all loses or damage which the bank might incur or sustain by reason of the non –observance of the condition bu the renter.
  • The bank reserves the right of keeping the vault closed for such time as they may consider necessary of changing the hours without any previous intimation to the renters owing to extra ordinary causes like riots, looting, floods etc.
  • The bank shall have a general lien on the contents of a locker for all rents and charges due from the renders and shall also have power to sell such property or part thereof for realizing moneys due and remaining unpaid.
  • The renter should promptly notify the safe deposit department of any changes of address. Communications or notices send by post to the last registered address of a renter in the safe deposit department shall be considered to have been properly served.
  • The relation ship between the bank and the renter will be that of a lessor and lessee and neither that of a bailer and bailee nor that of a bank and a customer.
  • The bank shall not answerable for any loss or damage to the contents of the locker arising from any cause whatsoever.
  • Any breach or violation of the rules by the renter may cause, at the banks discretion for future of his tenancy.
  • These rules are subject to alteration to the discretion of the bank.
  • The safe deposit vault will remain open from 10AM to 4.PM on week days and 10AM to 2PM on Saturdays with usual interval. The vault will remain closed on Sundays and bank holidays.
  • The bank reserves to itself the right of rejecting any application for renting the locker without assigning any reason.