Bank Locker Charges: If you also have a locker in any bank then it is important for you to stay updated with this news. More than half of bank locker holders are thinking of closing it due to increasing KYC hassles and increasing locker charges.
Bank Locker Charges: If you also have a locker in any bank then it is important for you to stay updated with this news. More than half of bank locker holders are thinking of closing it due to increasing KYC hassles and increasing locker charges. This information has come out from a survey, not only this, many people have also decided to close the lockers. According to the ongoing survey report, there are some customers who are planning to reduce the size of the locker for this reason.
New rules are coming into effect from January 1
The survey was conducted on more than 11000 people. It was said that due to continuous increase in charges by banks, 36 percent of locker users have closed bank lockers. 16 percent said that they will be transferred to smaller size locker. At the same time, four percent were considering closing the locker. New rules for bank safe deposit lockers are coming into effect from January 1. Before this, banks are calling the customer to the branch with the necessary KYC documents for the paperwork.
It said that locker fees have increased in recent years. According to RBI, customers will have to sign a new agreement with their bank for the locker by 31st December. Due to increase in locker fees, 56 percent of the locker holders surveyed in the last three years have either abandoned it or are thinking of closing it soon. Some banks are planning to shift to smaller locker sizes.
Sign the agreement by 31st December
The last date for signing the bank locker agreement was recently extended to 31 December 2023 by the RBI. Earlier customers had to sign agreements by January 1, 2023. According to the new rule, banks and customers will have to clearly mention in the agreement what kind of items you can keep in the locker. Banks are starting to charge new types of charges from people who avail the facility of locker to keep valuables in the bank.
