‘Either-or-survivor’ clause lets the surviving joint account holder withdraw Fixed Deposit (FD) funds, but this does not make him or her the legal ownerJoint bank Fixed Deposit accounts often have an 'either or survivor' clause. This allows the surviving holder to access funds after the oth...
25 Mar, 2026, 10.40 AM IST
Delhi bank locker row: Rs 60 lakh jewellery loss claim sparks big questions on liability and compensation; Know your rights and how to protect your valuablesA Delhi woman reported Rs 60 lakh worth of jewelry missing from her bank locker, prompting a police investigation. Despite no signs of forc...
23 Feb, 2026, 03.53 PM IST
Revised SBI deceased claim settlement guidelines: How to apply online, eligibility & documentsDeath claim settlement: SBI has issued revised guidelines to provide a harmonised framework and to standardise the documentation for the se...
20 Feb, 2026, 02.27 PM IST
RBI streamlines norms for claims settlement related to deceased bank customersThe RBI has issued revised norms mandating banks to settle claims on deceased customers’ accounts and lockers within 15 days, with compensa...
26 Sep, 2025, 08.33 PM IST
Bank locker facility: Don’t sign that bank agreement until you know these chargesBanks offer safe deposit lockers for secure storage, with annual rent varying by size and location, payable in advance. Besides rent, charg...
09 Aug, 2025, 01.50 PM IST
RBI plans hefty penalty to make banks settle death claims fastThe Reserve Bank of India (RBI) mandates banks to settle deceased customers' deposit accounts, safe deposit lockers, and safe custody artic...
08 Aug, 2025, 12.34 AM IST
Legal heirs to find it easier to claim deceased person's bank account, lockers: RBI plans to simplify procedureRBI Governor Sanjay Malhotra announced on August 6, 2025, that the process for legal heirs to access bank accounts and lockers of deceased ...
06 Aug, 2025, 01.57 PM IST
These SBI death claims can be settled in home branch onlyState Bank of India simplifies death claim settlements. Nominees can file online for savings accounts and fixed deposits. Visit the Decease...
28 May, 2025, 01.23 PM IST
Private vs public bank locker charges 2025: Who is offering lockers at lowest rental?Both public and private sector banks offer this facility. However, rental charges may vary depending on factors like locker size, branch lo...
19 May, 2025, 03.47 PM IST
Banks are not adding this clause to the new locker agreement: How does this impact you?The Reserve Bank of India has asked banks to get the new locker agreements signed with their exisiting customers on or before December 31, ...
03 Jan, 2023, 10.25 AM IST
SBI locker claim settlement: How settlement will work after death of locker hirerWhen opening a locker at the State Bank of India (SBI) or any other bank, customers must ensure that they register for the nomination facil...
20 Apr, 2022, 09.46 AM IST
PNB locker claim settlement: How claims settlement will work after death of locker hirerPNB has a simplified policy and procedure in place to help with the settlement of claims for deposits, locker contents left in the accounts...
10 Mar, 2022, 10.09 AM IST
RBI standardises bank locker rulesBanks have also been directed to maintain a branch-wise list of vacant lockers as well as a wait-list for the purpose of allotment of locke...
19 Aug, 2021, 09.45 AM IST
How nominee can access safe deposit locker in bankHere is the procedure to access the bank locker by the nominee in case of death of holder whether held individually or jointly.
20 May, 2019, 06.30 AM IST
Ensure safety of customers' lockers: RBI to banksThe Reserve Bank has asked banks to ensure customers' lockers remain safe and there is "no negligence" that could render banks liable to cl...
08 Aug, 2017, 03.38 PM IST
Bank lockers: How much can you entrust them with your valuable deposits?According to Section 152 of the Indian Contract Act, a bank is not responsible for any loss or damage to the contents of a locker.
31 Oct, 2014, 01.44 PM IST
- RBI authorises banks to open unoperated lockers
Issuing fresh guidelines to tackle the security threat, the Reserve Bank of India today permitted banks to break open a locker if it remain...
18 Apr, 2007, 01.57 AM IST