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UCO Bank Locker Charges in 2022-23 – Locker T&C | Locker Size Dimensions

Uco Bank Locker Charges

UCO Bank

Established in 1943, UCO Bank has some 46+ regional offices and more than 2,700+ branches throughout India.
The bank also operates two key international financial centers in Hong Kong and Singapore.
In addition to offering personal and commercial banking, UCO handles foreign exchange business in some 52+ different locations throughout India and offers foreign exchange dealing.
As part of its service, UCO Bank can provide safe deposit service to its customers.
These safe deposit lockers, as they are formally known, are available in different sizes depending upon the contents that would be placed in the lockers, the demand from customers for various types of lockers, and the price or rent that you charge. Let’s look at the UCO Bank locker charges along with sizes.

Also Read Locker Charges in SBI, Bank of Baroda(BoB), Punjab National Bank(PNB) & Canara Bank | Yearly Charges | T&C

UCO Bank Locker Size

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Locker Size (Cubic
Inch)
Classification
469.90 & 537.77A – Small
858.69 & 878.17B – Medium
1186 & 1155C – Medium
1337 & 1307D – Large
1872 & 1841 & 1828 & 2234E – Large
2767 & 2622F – Very Large
2843.59 & 2766.33G – Very Large
3986.97 & 3682.66H – Extra Large
4214.60 & 4671.61L1 – Extra Large
6296.51 & 6009.61L & K – Extra Large

Also Read Are You Thinking Bank Lockers are Safe?

Rules and Regulations

  • New– The liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or fraud by bank employees.
  • New – As per the RBI guideline, Banks are allowed to obtain a TD (i.e. Term Deposit), at the time of allotment, which would cover 3 years’ rent and the charges for breaking open the locker in case of such eventuality.
  • New – Safe deposit locker holders will need to execute a new locker agreement with the bank in order to be eligible for the new pay.
  • New – Banks to advise before the day’s end, by sending an email and SMS alarm to the client’s enlisted email address and mobile number as a positive affirmation, educating them regarding the date and season of the locker activity, as well as the redressal system accessible in case of unapproved locker access.
  • The annual rental is payable in advance.
  • Rental depends on the size of the lockers & the location of the branch.
  • One-time registration charges.
  • KYC (i.e., Know Your Customer) norms are applicable for locker hirers.
  • The Safe Deposit Locker cannot be allotted to minors either singly or jointly with others.
  • A nomination facility is available.
  • In case the locker remains unoperated for more than 1 year, the bank has the right to cancel the allotment of the locker and open the locker even if the rent is paid regularly.
  • Annual or monthly rent collected will NOT be refunded to the customer on surrender.
  • Allotment of lockers is on a first-come-first-served basis. For this reason, a waitlist is maintained.
  • Operation in the Deposit Locker will be stopped if rent is not paid on the due date.
  • The Bank reserves the right to revise the rentals amounts and existing renter(s) shall be given notice of revised rentals amount and their effective dates through the branch notice board and/or the bank’s website.
  • Loss of key should be immediately informed to the Bank’s Branch. The bank shall not be responsible for any loss. Charges for opening the locker, replacing the lost key, and for changing the lock shall be payable by the Renter.
  • Always keep the bills & proof of your gold and valuable items.
  • Keep a record of your valuable items and gold to claim the compensation.

UCO Bank Locker Charges in 2022-2023

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Also Read Bank of India Locker Charges in 2022 – How Can I Get Locker in Bank of India?

ClassificationSemi-urban / Rural (Incl of all taxes)Metro/Urban (Incl of all taxes)
SMALL₹ 1026 + GST₹ 1212 + GST
MEDIUM₹ 1678 + GST₹ 2517 + GST
LARGE₹ 3662 + GST₹ 4475 + GST
VERY LARGE₹ 4272 + GST₹ 5288 + GST
EXTRA LARGE₹ 7323 + GST₹ 8543 + GST

Locker Rent for staff members (Existing & Retired): –
(Staff members are eligible to hire one SMALL type locker on y at the concessional rate.)

ClassificationSemi-urban / Rural (Incl of all taxes)Metro/Urban (Incl of all taxes)
SMALL₹ 551 +GST₹ 636 + GST
Other Charges
Penalty for late payment of Locker Rent
Small and medium – Rs 150/- per quarter or part thereof
Large and above – Rs 500/- per quarter or part thereof
Locker visit charges
12 Operations per annum free, beyond which Rs. 105/- per operation will be changed (No applicable for staff members)
Locker rent overdue charge (All sizes)
1. Upto First Quarter: 10% of Annual Rent
2. Upto Two Quarters: 25% of Annual Rent
3. Upto Three Quarters: 40% of Annual Rent
4. Upto Four Quarters: 50% of Annual Rent
4. More than One Year: 100% of Annual Rent.
Loss of Key/Drill
Small Lockers Rs.1050/ + GST
Large and Extra-large Lockers Rs. 1250 + GST
Locker Rent for Staff-members (Existing & Retired)
Staffs members are eligible to hire one SMALL type locker only at the concessional rate

Small (one locker only)
Semi-urban / Rural – Rs 650/-
Metro/Urban – Rs  750/-
Rentals may vary between branches under the same location.
Please check applicable rentals via Internet/Mobile banking or by visiting the branch.

Also Read Locker Charges in HDFC Bank & Kotak Mahindra Bank | How to Get Locker?

Source & Logo – UCO Bank

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