Union Bank Locker Charges 2024

Apart from other banking services, Union Bank also provides its customers the 'Safe Deposit Locker' facility, as one of its value-added services. With this facility, you can hire specially designed lockers to keep your valuables. These lockers, built by reputable manufacturers, are kept inside specially built rooms and are available at different bank branches. 

Locker sizes and charges may vary based on your needs and the nature of your belongings. This comprehensive article aims to inform you about Union Bank locker charges and the process of getting a locker in the bank.

Types of Bank Lockers in Union Bank

The following table shows the types of lockers available at Union Bank, along with their sizes in cubic inches.

Union Bank Locker Charges

Rent for Safe Deposit Lockers is charged annually and rent is payable in advance. Locker hirers have the option to pay 3 years rent in advance. Locker rent varies depending on location of branch i.e. rural/semi-urban/urban/metro and size of locker. The following table shows different charges for different types of lockers offered by Union Bank.  

Note: The Union Bank of India locker charges as mentioned in the above table, were effective from 01.04.2022.

How to Check Locker Availability in Union Bank?

To check locker availability at Union Bank, follow this step-by-step guide.

1. Visit the official website of Union Bank.
2. Expand the ‘Products’ section, and click on ‘Lockers/Other Services’.
3. In the Lockers/Other Services page, click on ‘Online Locker Registration’.
4. In the ‘Online Locker Registration’ page, you will get the option to look for locker availability, by entering the State, District, and Branch of your choice.
5. The system returns a table showing the type, size and availability status of lockers in the selected branch, along with a ‘Register’ button below the table.

Union Bank Locker Eligibility & Documents Required

Below entities are eligible to apply for a locker service in Union Bank of India. The list of required documents is also there.

Eligibility:

The eligibility criteria that need to be fulfilled to get a Union Bank locker service are as follows:

• Individuals (as single or joint locker-holders)
• 'Limited' companies
• Partnership firms
• Clubs and associations

Please note that minors are not eligible for locker applications.

Documents Required:

• Application for Allotment of Locker
• Agreement/Memorandum of Letting of Safe Deposit Vault/Locker. 

Note: Documents should be duly stamped as per the applicable stamp duty of the respective state.

How to Open a Locker Facility in Union Bank?

To open a locker facility in Union Bank, you can either visit the branch of your choice, collect an application form, or follow further directions from bank officials to complete the process. 

Alternatively, you can initiate the locker opening process through Internet banking by performing the following steps.

1. Open the official website of Union Bank.
2. Expand the drop-down list under the ‘Products’ section, and click on ‘Lockers/Other Services’.
3. You will land on the Lockers/Other Services page. Click on ‘Online Locker Registration’.
4. In the ‘Online Locker Registration’ page, you will get the option to look for locker availability, by entering the State, District, and Branch of your choice.
5. The system returns a table showing the type, size and availability status of lockers in the selected branch, along with a ‘Register’ button below the table.
6. Click on ‘Register’.
7. The system will return a ‘Locker Registration Form’. Fill out the form and proceed as per system-provided instructions to complete the registration process.

How to Close Union Bank Locker?

To close your Union Bank locker, visit the branch where you opened the locker and follow the instructions of the bank officials, after informing them about your decision. You will have to clear all outstanding locker charges and return the locker key to the bank. Moreover, your locker needs to be emptied and your valuables therein handed over to you, before final closure.

Union Bank Locker Operation Rules

Operating a Union Bank locker has a few guidelines, and both the bank and you need to abide by the following rules and regulations of locker use.

• 'Safe Deposit Locker' assigned to you by Union Bank, is non-transferable, i.e., you cannot transfer the ownership of your locker to anyone else (relative, spouse, etc.). In case you no longer need the locker facility, you will have to return the key and surrender the locker to the bank. Your relative can apply for a new locker, as per availability.
• No person other than you (the customer) should be able to access the locker, as it is for your personal use only.
• The bank will refuse to provide you access to the locker if you fail to pay your due locker rent, or at the time of application, fail to submit identity proof.
• In case the bank notifies you of a specific time to operate your locker, you will be able to access your locker at that time only. Otherwise, you will be able to access it on all working days.
• Items like weapons, explosives, arms, illegal substances, radioactive materials, or anything that can be a cause of trouble/nuisance in general, are not allowed to be stored in Union Bank's 'Safe Deposit Locker'.
• You cannot access your locker by any means other than the identification mechanism offered to you by the bank, to access your locker.
• You cannot store cash in Union Bank's 'Safe Deposit Locker’. It is only meant for storing valuables like jewellery, documents, etc.

You can take a look at the detailed terms and conditions of locker use explained in the ‘Safe Deposit Locker Agreement’ available on the official website.

Final Word

From the Union Bank locker charges listed in this write-up, we intend to give you a clear idea so that you can decide to book one according to your budget and the nature of your valuables. Union Bank lockers guarantee the safety and security of your valuables (gold jewellery, documents, etc.). You can always visit your nearest Union Bank branch to verify if there has been any update in different locker charges.

Bank Locker Related Articles:
1. ICICI Bank Locker Charges
2. HDFC Bank Locker Charges
3. SBI Locker Charges
4. Axis Bank Locker Charges
5. Bank of Baroda Locker Charges
6. Canara Bank Locker Charges

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