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Banking > Basics > Lockers


Bankers are in the business of providing security to the money and valuables of the general public. While security of money is taken care of through offering various type of deposit schemes, security of valuables is provided through making secured space available to general public for keeping these valuables. These spaces are available in the shape of LOCKERS. The latter are small compartments with dual locking facility built into strong, fire and burglar resistant cupboards. These are stored in the Bank's Strong Room and are fully secure. Lockers can neither be opened by the hirer or the Bank individually. Both must come together and use their respective keys to open the locker.

Hiring of Lockers is a losing proposition for the Banks, if seen in isolation as it involves major expenditure on buying those cabinets, providing a secure place to keep them and manning the facility so that the customers are serviced immediately. Banks offer this facility as a sop to attract deposits. So do not be surprised if your Banker requests you to make a "small" fixed deposit before a locker can be allotted to you.


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