PNB issues revised locker agreement; asks customers to execute latest agreement

Punjab National Bank has issued a revised/supplementary locker agreement incorporating customer’s rights, it has asked its locker holder customers to contact their locker holding branch and execute the revised, supplementary locker agreement as applicable.


According to the PNB website, “Punjab National Bank has issued a Revised/Supplementary Locker Agreement incorporating the customer’s rights. Our esteemed customers availing locker facilities from Bank are requested to contact their locker holding branch and execute the Revised/Supplementary Locker Agreement as applicable.”




Revised locker agreement and Supplementary locker agreement
No document required except Stamp Paper of requisite value. Note that Stamp duty to be borne by customer.
Charges applicable for execution of agreement will be as per state stamp Act.
Customer has to visit the branch for execution of locker agreement.

PNB locker sizes
There are various types of locker cabinets having different sizes of lockers. It offers 13 different sizes of lockers. Therefore, all these lockers are being categorized in five categories as per different sizes.

Locker charges

	Rural	Urban
Small	Rs.1250/-	Rs.2000/-
Medium	Rs.2500/-	Rs.3500/-
Large	Rs.3000/-	Rs.5500/-
Very Large	Rs.6000/-	Rs.8000/-
Extra Large	Rs.10,000/-	Rs.10,000/-

* A premium of 25% in identified metro branches subject to
review of identified branches.

Breaking open of the locker and dealing with its contents
PNB will 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 in accordance hereof 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 consecutive years; and
(c) 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.

In addition to the Termination Notice, the Bank will give the customer written notice of its intention to break open the locker before exercising its right to do so. This notice will be sent by registered or speed post, as well as (i) email where the customer's email address is known and (ii) SMS and/or WhatsApp where the customer's mobile phone number is known.