PNB Locker Agreement: Everything You Need to Know
Punjab National Bank (PNB) offers a variety of locker services to its customers. A locker is a safe deposit box where customers can store their valuable documents, jewelry, and other items securely. To avail of this facility, customers have to sign a PNB locker agreement. In this article, we will discuss everything you need to know about PNB locker agreement.
What is a PNB Locker Agreement?
A PNB locker agreement is a legal contract between the bank and the customer. It outlines the terms and conditions of renting a locker from the bank. The agreement includes the rent, deposit, and other charges associated with the locker facility. It also states the rights and responsibilities of the bank and the customer.
Who Can Avail of PNB Locker Facility?
PNB locker facility is available to all customers who have a savings or current account with the bank. The customer has to fill the locker application form and submit it to the bank. The bank will then allot a locker to the customer based on availability.
What are the Terms and Conditions of PNB Locker Agreement?
PNB locker agreement contains various terms and conditions. Below are some of the important terms and conditions you need to know:
1. Rent and Deposit: The customer has to pay a rent and a deposit to avail of the locker facility. The rent varies depending on the size of the locker. The deposit is refundable and is usually equivalent to rent for the first year.
2. Locker Access: The customer can access the locker during the bank`s working hours. The customer has to sign in the register before accessing the locker. The bank also provides a key or a combination lock to the customer for opening the locker.
3. Responsibility: The customer is responsible for the items stored in the locker. The bank is not liable for any loss or damage to the items stored in the locker. The customer is also responsible for keeping the locker clean and tidy.
4. Termination: The customer can terminate the locker agreement by giving a written notice to the bank. The bank can also terminate the agreement if the customer fails to pay the rent or violates any terms and conditions of the agreement.
5. Nomination: The customer can nominate a person who can access the locker in case of their death or incapacitation. The customer has to fill the nomination form and submit it to the bank.
PNB locker agreement is an essential document that outlines the terms and conditions of renting a locker from the bank. It is important to read and understand the agreement before signing it. By following the rules and regulations mentioned in the agreement, customers can avail of the locker facility safely and securely.