How to open a bank locker in Bangalore

• You need bank locker to keep valuables safe and easily accessible when needed.
• There are two kind of banks that offer lockers:
  • Public sector bank (Corporation Bank, Bank of Baroda, Bank of India)
  • Private sector bank (HDFC, ICICI, AXIS)
• Private sector banks charge fee of INR 3000 per year for a small locker.
• Public sector banks charge fee of INR 1000 per year for a small locker.
• We inquired with three public banks for a locker:
  1. Corporation Bank: The bank manager said lockers were high in demand and not available easily. However, if we open an account and maintain a deposit of INR 500,000, he might arrange a locker for us! We said NO.
  2. Bank of India: We talked to a lady accountant and she said lockers were available. But, she won;t give them to us until we open a FD of INR 100,000 for minimum 03 years. After a lot of requests and negotiation, she agreed to allot a locker for INR 50,000 FD.
• We started our application with Bank of India.
• Application procedure
  • First, open a saving account. Get KYC documents (address proof, ID proof) and 2 pictures
  • We got the FD of INR 50K and then told now get an e-stamp of INR200. And also get KYC documents.
  • The above steps took almost two months and we had a bitter taste of government services 🙂