A bank is the first institution that hits our minds when it comes to the matter of savings and lending money to the marketplace. The bank invests our money in the market to multiply it, and also it gives us a percentage of interest. But if we look a bit around, this institution is not only for investing money and growing it but also for keeping the money safe and more of it. Therefore, banks introduce us to safe deposit locker facilities. Here, people can keep their valuables.
Yes Bank is also not different from others. The Yes Bank started in 2004 in Mumbai with almost 1000 branches across India. It has an official website to make banking easier for its customers with a lot of facilities. Apart from this, Yes bank has received several national and international honors for corporate investment banking, transaction banking, and sustainability. The Yes Bank website provides personal banking, business banking, digital banking, loan in seconds, NRI savings account open online, exploring NRI products, etc. The most important is Yes bank drives our attention toward its safe deposit locker system, and people can check through it for its features.
Yes Bank Safe Deposit Locker
Yes bank provides a safe and secure place for customers to keep their valuables. The customer can keep their valuables like property papers, investment documents, gold bars, jewelry, loan documents, savings bonds, etc in the locker. The safe deposit locker facility is in every bank and has its purpose of giving the customers the security of their treasures. People usually think of banks for their earned money to be saved, but the locker system is beyond its boundaries of safety. Though, these lockers have some rules to be followed as instructed by the fellow bank.
This year, from January 1, the Reserve Bank of India announced a new rule for the locker system in every bank. the bank will be responsible for any kind of damage to the lockers that may have happened like decoity, robbery, theft, building collapse, or fire by their own faults. Therefore, the responsible bank has to pay in case of any loss of the valuables in the locker caused by any of the mentioned incidents. But somehow, if the customer themselves lost or damaged the locker documents, the bank will not be accountable for any of it.
Benefits of having a locker in Yes Bank:
People nowadays are very concerned about their future financial status and vital belongings that may work for the future. Everyone knows home is not a perfect place to secure money or valuables. So the bank is the safest place a person can have ever. The Yes Bank’s safe deposit lockers are the safest place for their customers. Customers can choose a locker according to their convenience space and type. Though, Yes Bank offers the locker facility only to the existing customers. We are mentioning the benefits in the points below.
- The Yes Bank gives a wide range of locker facilities to their customers. According to the customer’s requirements, it has small, medium, and large lockers.
- It is a safer place than home.
- Customers can enjoy unlimited access to the locker.
- The Yes Bank has state-of-the-art security features and the latest bugler alarm system.
- The lockers have two keys. Bank give one key to the owner and the another they keep in the bank.
- The customer can visit their locker on any banking day. There’s no particular day for it.
- The Yes Bank provides a hassle-free payment method that the payment will deduct directly from your authorized debit card.
These benefits that a customer needs from Yes Bank offer them all. The Yes Bank provides a nomination facility to the individual or joint hirers for the locker to make an easy effort to receive the documents by the nominee at the time of release.
The Eligibility Criteria for The Lockers:
Every bank has some eligibility criteria for booking a safe deposit locker. These criteria make a statement for the locker booking system that the bank itself maintains for the customers. Customers are eligible to open a single or a joint account to avail through a locker in the bank. The Yes Bank provides a safe deposit locker facility to its existing customers, or if anyone wants to book a locker in Yes Bank, the bank will check if the person is an existing customer or not.
If the person is not an existing customer of Yes Bank, they need to open an account in Yes Bank at first. Apart from this, Yes Bank customers can also avail of the facility with the operative instructions like Either or Survivor, Anyone or Survivor, Former or Survivor clause.
In order to get the locker, a person has to write an application to the Yes Bank branch manager. Yes Bank has an agreement policy with the terms and conditions for occupying the safe deposit locker. After understanding all the terms and conditions, the customer must sign the policy.
The Documents in Need for The Locker Booking:
There are some crucial documents that will be needed to occupy the Yes Bank locker. These documents will show the ownership of the safe deposit locker. We are mentioning the documents below.
- The KYC details the customer has attached with the Yes Bank account along with the Pan and Adhaar card.
- The savings or current account details.
- One passport-size photo.
- Locker agreement.
- Security deposit for the locker rent.
|Locker Size and Category||Annual Locker rental charges|
|Small (A,B)||Upto Rs. 4,500|
|Medium (C,2A,D,E,2B1,H1,2B)||Upto Rs. 10,000|
|Large (F,G,4A,2D,H,4B)||Upto Rs. 20,000|
|Ex-Large (L,L2,K,K1,4D,4D1)||Upto Rs. 32,000|
Last Updated: 15 February 2023
Yes Bank Locker Charges
Every bank has a locker facility in itself. The Yes Bank provides different sizes and dimensions for the lockers. People can choose a locker according to their need for valuables. Customers can even open lockers in non-home branches of the Yes Bank. The bank charges the rent as per the locker size and dimensions. The payment will be paid annually directly from the attached account. The locker rent charges for Yes Bank are given below.
- Small or A, B size locker rent charges up to 4,500/-.
- Medium or C,2A,D,E,2B1,H1,2B size locker rent up to 10,000/-.
- Large or F,G,4A,2D,H,4B size locker rent up to 20,000/-.
- Extra-large or L,L2,K,K1,4D,4D1 size locker rent up to 32,000/-.
The Yes Bank locker charge varies depending upon the availability of the locker facility in the branch. These charges are rented annually with 18% GST.
Almost every bank has a safe deposit locker facility for their customers. But Yes Bank has some more safety devices for its customers. Apart from the individual and joint account holders, corporate institutions, associations, societies, and trust holding can also issue for the safe deposit locker.
The Bank surveillance cameras capture all exits and entries of people every day at the bank. Every locker has two keys and both of them will be in need at the time of locker opening. It is better to look through the locker when the vault is empty. It will give more safety. For further inquiries and askings, you can reach out to Yes Bank’s toll-free number 18001200.
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