Can bank remove contents from your locker due to non-payment of locker rent?
Bank locker facilities offered by banks come with fee depending on the size of locker and location of the bank. The bank has been mandated to recover the rent and any other cost incurred by it and debit the customer account.
According to the PNB website, “The Bank shall have a right to: (a) Recover the Rent and any other cost incurred by the Bank in relation to the Locker to the debit of the Customer’s account, in the event the same is not paid by the Customer, when due; and (b) Refuse access to the Locker- (i) In case the rent due on the Locker remains unpaid; and (ii) Customer fails to provide proof of identity when demanded by the Bank, at the time of seeking access to the Locker.”
Also read:Rs 18 lakh cash in bank locker destroyed by termites; Know the rules regarding keeping cash in your bank locker
Breaking open of the locker and dealing with its contents
The Bank shall have a right to break open the Locker and deal with its contents in accordance with the provisions under this Agreement, in case of any one or more of the following events-
(a) In the event termination notice is served to the customer and the customer does not surrender and vacate the locker after the end of the notice period stipulated under the termination notice;
(b) The rent remains unpaid for 3 (three) consecutive years; and
© The locker remains inoperative (irrespective of whether Rent is paid or not) for a period of 7 (seven) years or more; and the customer cannot be located by the bank.
Prior to exercising the right to break open the locker, the bank will send to the customer a notice (in addition to the Termination Notice in writing of not less than 3 months by registered post or speed post (as well as by email where the customer's
