Security Features of Bank Safe Deposit Lockers

4 June, 2024

Synopsis

• Banks offer safe deposit lockers where you can store your valuable items.

• Banks typically charge you an annual, nominal fee for offering deposit locker services.

• Banks employ security measures like CCTV, limited access, etc., to safeguard locker areas.
  
  

It is said that the home is the safest place to be which is true, but there are certain exceptions also. While your home may safeguard you from external threats, it can be vulnerable to thefts too. In such cases, your precious assets stored in the safety vault in your wardrobe could fall in the wrong hands. However, there is way to ensure this doesn’t happen. So you can open a safe deposit locker with your bank.

Here’s all you need to know about safe deposit lockers and their essential features.

What is a Safe Deposit Locker?

A safe deposit locker, also known as a safe deposit box, is product or facility offered by various banks, allowing you to securely keep items like jewellery, gold, property deeds, bond certificates, and all sorts of legal and financial documents. It is essentially a personal vault service which you can sign up for, in order to safely store your valuables and other important belongings in a bank.

Typically, when you open a safe deposit the bank charges you a nominal rent or fee. This fee is applicable on an annual basis. Also, depending on your bank, you can choose lockers of different sizes, and the locker fee depends on your chosen locker size. In most cases, your bank insures your safe deposit lockers, which adds an extra layer of security while protecting your assets from vulnerabilities.

Security Features of Bank Safe Deposit Lockers

Let us now assess the many exceptional features you can enjoy upon opening a safe deposit locker.

• Only the Accountholder/s Can Access The Locker
  
  When it comes to providing access to the locker, banks have very specific criteria and stringent rules in place. For one, banks typically allow access only to the locker holders. Anyone, who is not listed as the account holder (including the locker holders’ parents, children, siblings, etc.), cannot access the bank safe deposit box, or be present in the locker area (if accompanied by the locker holder).
  
  

• The Unlocking Features of Some Lockers Are Unique
  
  Some banks take additional security measures and offer lockers with a unique features. For instance, the lockers come with dual locks, and can only be unlocked with a combination of two keys. In such cases, the bank representative and the locker holder have to simultaneously insert the two keys into the two locks on the locker to open it. Such safe deposit boxes cannot be opened with just one key.
  
  

• The Locker Area is Always Under surveillance 
  
  Yet another important security feature you can find in almost every bank offering safe deposit locker services, is that the lockers section is constantly under surveillance. Banks use CCTV cameras in the locker area, as well as the entrance and exit points, which helps them monitor any movements in this area. Besides the CCTV camera, banks also employ various security personnel to guard the area.
  
  

Open Your Safe Deposit Locker – Head To Your Nearest HDFC Bank Branch To Know More

Storing your valuables in safe deposit lockers is the right thing to do to safeguard them from external harm or threats. At HDFC Bank, we help you store your valuables securely in our lockers. You can open a locker at select HDFC Bank branches if you are an existing HDFC Bank accountholder. You must also complete the KYC process. Also, you can open lockers individually or jointly and even assign a nominee. Click here to know more about opening safe deposit lockers with HDFC Bank.

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.