<p>While bank lockers are considered safe, it’s crucial to understand the bank’s responsibility and compensation in case of theft or loss. Read on for complete details about locker safety.</p><img><p>Bank lockers offer safe storage for valuables like gold. However, banks are not allowed to know the contents and shouldn’t maintain records, according to RBI guidelines.</p><img><p>Banks are only liable if locker contents are stolen or lost due to their negligence. Compensation is limited to a certain amount.</p><img><p>For losses due to bank’s fault, customers can get up to 100 times the annual locker rent. For example, if the rent is Rs 3,000, the max compensation is Rs 3 lakh.</p><img><p>The bank isn’t responsible if the customer loses the key or fails to keep it safe. Also, they’re not liable for damages from natural disasters (fire, flood).</p><img><p>Banks don’t insure locker contents. However, customers can get their valuables insured separately from insurance companies. This is optional.</p><img><p>Banks like SBI offer 12 free locker accesses per year. After that, each visit costs Rs 100 + GST. This may vary by bank.</p><img><p>CCTV is mandatory in locker areas, with recordings kept for 180 days. Customers should get SMS/email alerts when their locker is accessed.</p><img><p>FD isn’t mandatory for a locker. But if rent is overdue, a minimum FD might be asked for to cover dues and other charges.</p><img><p>Bank lockers are safe, but security is a shared responsibility. Contact your bank directly for any concerns.</p>
