UCO Bank Locker Charges – Complete Guide on Fees & Terms

4" x 6.9"

*T&C Apply

₹4400/-

Let's understand it with an example

Suppose you are renting a "Small" Locker (Type A)

• Locker Type: A (Small)
• Size: 4" x 6.9"
• Location: Semi-Urban
  
  

For a "small" locker in a semi-urban/rural location, the charge is ₹1100 (inclusive of all taxes) for one year.

If you take this locker on rent for one year, the total amount will be ₹1100/-.

However, if you are to hire the same locker in a metro/urban location, the rent will be ₹1300/- per year.

Security Deposit & Locker Key Policy in UCO Bank

Security Deposit

• You must put down a fixed deposit to hire a safe deposit locker.
• The deposit pays for the rent of the locker for the year and charges if the locker has to be opened forcibly.
• The deposit is for three years, but you can extend it afterwards.
• You can designate a person to inherit the contents of your locker upon your death.
• The nominee can be only a person, not an organization.
• You can modify your nominee at any time.
  
  

Lost Keys

• In case you lose the locker key, you are required to notify the bank immediately.
• You will be liable for the expense to repair or replace the key and lock.

Other Locker Policy Details

• Lockers are of varying sizes and are leased for at least one year.
• Rent is payable in advance.
• In case of non-payment of rent, the bank may open the locker and take out the contents.
• The bank will conduct checks on new and current locker users.
• The bank has a policy to settle claims on lockers for deceased customers.

Eligibility Criteria and Required Documents for UCO Bank Locker

Eligibility Criteria

• Existing Account: You must possess a savings or current account in UCO Bank.
• KYC Compliance: You should submit KYC documents as specified by the bank.

Required Documents

• Completed Locker Application Form: Found at the bank branch.
• Identity Proof: You can submit any one of the following:
• Passport
• Aadhaar Card
• Voter ID
• Driving License
• Address Proof: Examples include:
• Utility bill
• Property tax receipt
• Ration card
• Recent Passport-Sized Photograph: A recent photo which will be verified by the bank.
• Nominee Details (if any): Give your nominee's name and photo.

How to Apply for a UCO Bank Locker?

Steps to Apply for a Locker in UCO Bank:

• Visit the UCO Bank branch, which has lockers.
• Ask for the locker application form from UCO Bank.
• Fill out the application form with your details.
• Sign the locker agreement after filling out the form.
• Submit KYC documents for all applicants (identity proof, address proof, etc.).
• Submit passport-sized photographs of all applicants.

Nomination for UCO Bank Locker

• Fill Out the Nomination Form: Fill out the form made available by UCO Bank.
• For Company Nominations: Attach a certified copy of the board resolution in case of a company nomination.
• For Shareholders: In the case of shareholders' nomination, the signatures should be identical to the ones registered with the bank's share transfer agent.

What Cannot Be Stored in a UCO Bank Locker?

You cannot keep the following articles in UCO Bank lockers

• Cash and currency
• Arms, weapons, explosives, or related materials
• Perishable or radioactive substances
• Illegal drugs or harmful substances
• Any articles that create inconvenience for customers or the bank

Permitted Articles in UCO Bank Lockers

• Jewellery
• Valuable documents such as property documents, loan documents, birth/marriage certificates, savings bonds, and insurance policies
• Other private and confidential items

Bank's Rights

• If the bank suspects you have kept illegal or dangerous items in the locker, they can take action.

How to Surrender a UCO Bank Locker?

To surrender a UCO Bank locker, you can:

• Vacate the Locker: Drain everything in your locker.
• Write a Letter: Send the following to the branch manager:
• Your name
• Address
• Telephone number
• Locker number
• Signature on Letter: Do not forget to sign the letter.
• Return Key: Surrender the locker key.
• Confirmation of the Surrender: The bank would send confirmation about receiving the surrender of the locker.
  
  Also Read - UCO Bank Net Banking

How do we Operate the UCO Bank Locker in India?

• Go to Your UCO Bank Branch: Proceed to the branch where your locker is at regular banking hours.
• ID Proof: Produce a valid ID proof to the bank representative.
• Locker Key: Hand over your locker key to the bank personnel.
• Check and Access: Your identity will be verified by the bank representative, and he/she will lead you to the locker room.
• Open and Use the Locker: Open your locker with the key and retrieve your valuables.
• Close and Record: Once you're through, close the locker tightly and make sure the bank official records the operation.

Customer Care Details related to UCO Bank Locker

For any queries or issues related to your locker, contact UCO Bank's customer care at 1800 103 0123 or email them at hosp.cscell@ucobank.co.in.

Conclusion

UCO Bank provides secure lockers of various sizes at affordable rates, offering the utmost security for your belongings like jewellery and documents. With easy rental facilities, a safe key policy, and insurance, UCO Bank provides a hassle-free and secure way of storing your belongings. Their simple policies and customer-friendly service give a trouble-free, peace-of-mind experience.

FAQs related to UCO Bank Locker

Q1: How many times can a locker be operated in a day?

There is no limit to how many times the locker can be used in a day during working hours by the authorised person.

Q2: Can a bank open my locker without my permission?

If the locker holder does not respond or use the locker, the bank may open the locker after giving proper notice to the holder.

Q3: What becomes of my locker if the bank collapses?

When a bank collapses, the fate of the safety deposit boxes varies with the circumstances and laws. In some instances, the safety deposit boxes might be acquired by another bank, and their owners can continue to access them without interruption.