PNB Locker Rules Revised: Bank Asks Customers To Execute Agreement, Know Details Here

Punjab National Bank (PNB) recently announced a revised locker agreement. It has asked its customers who are availing locker facilities to visit the PNB branch housing their locker and execute the amended or supplementary locker agreement. “Punjab National Bank has issued a Revised/Supplementary Locker Agreement incorporating the customer’s rights. Our esteemed customers availing locker facilities from the Bank are requested to contact their locker holding branch and execute the Revised/Supplementary Locker Agreement as applicable,” the official handle of PNB tweeted.

Check the post here:

What Should PNB Customers Do?

Customers who avail the locker facility at Punjab National Bank must go to the bank to sign an updated or supplementary agreement. Except for the appropriate stamp paper, no other documents are required. It is to be noted that the customer must pay the stamp duty. The fees for making the agreement will be determined by the State Stamp Act.

Also Read: SBI Issues New Guidelines For Locker Holders; Check Revised Charges Here

PNB Locker Sizes and Charges:

PNB provides its customers with lockers in a variety of sizes. All of these lockers are classified into five categories based on their sizes, and the fees for each option are variable.

For small lockers in rural areas, the price is Rs 1,250. In urban regions, the locker cost is Rs 2,000.

For medium lockers, the charge of a lock in rural areas is Rs 2,500. In urban areas, the charge is Rs 3,500.

Coming to large locker customers, those in rural areas will pay Rs 3,000 towards it. People in urban places will be charged Rs 5,500.

For very large lockers in PNB, customers will pay Rs 6,000. In urban areas, the cost of the very large lockers will be Rs 8,000.

Looking into the extra-large locker, customers from both rural as well as urban areas will pay Rs 10,000.

Also Read: 6 in 10 Consumers Likely to Downgrade Size, Shut Locker As Bank Locker Rules Change: Report

Bank Can Open The Locker In Some Circumstances

Punjab National Bank shall have the right to break open the locker and deal with the content in some circumstances. The lender can access the locker when:

-The mandatory charges remain unpaid for three consecutive years.

-The locker stays inoperative for a period of seven years or more, regardless of whether rent is paid or not, and the customer cannot be traced by the bank.