Canara Bank Locker Charges 2024 – Features & Types

Although established in 1906, Canara Bank was nationalised in 1969 as an Indian public sector bank. Presently, Canara Bank has offices in New York, London and Dubai. Along with exclusive financial services, this bank also allows you to book a locker for storing your valuable assets. Check out the Canara Bank locker charges applicable to make sure they meet your budgetary preferences.

Latest Canara Bank Locker Charges and Its Types

The locker charges in Canara Bank depend on the following factors:

1. Location of the Canara branch
2. Size of the locker

The table below categorises the available sizes into groups of small, medium, large and Very Large:

Other Charges: A one-time registration fee of ₹400 is charged as a locker registration fee.

With this information, you can be sure about selecting the right size of Canara Bank locker for maximum safety of your valued items. Know about different features, eligibility criteria, etc. for Canara Bank lockers to make an informed approach.

Features of Canara Bank Locker

Find some of the important features of Canara Bank Lockers listed below:

1.  Canara Bank lockers are available in varying sizes in different locations.
2. Locker prices differ from one branch to another, based on the size and location.
3. Nominee facility or survivorship clause is available
4. Canara Bank allows the payment of locker charges via a customer’s debit card itself.
5. The lockers are open to visitors at any time of the day, during working hours.

However, before opening a locker with Canara Bank make sure to check if you meet the eligibility criteria.

Eligibility Criteria to Open a Canara Bank Locker

Here is a list of entities that can open a locker at Canara Bank:

1.  Individuals, singly or jointly with two or more people
2. Two or more persons with instructions “Either or Survivor”/ “Anyone or Survivor”/ “Former or Survivor” clause
3. Limited Companies, firms, and trusts

If you are any of the above, you are eligible to open a locker in Canara Bank. Apart from the eligibility criteria and bank locker charges at Canara Bank, you should also know the documents needed to open a locker.

Documents Required to Open a Canara Bank Locker

Here’s a list of documents that you will need to submit to open a locker at Canara Bank:

1. KYC documents (including identity and address proofs)
2. Current or Savings bank account statements 
3. A Signed copy of the locker agreement

Additionally, you will need to carry the security deposit amount and a passport-size photograph. Now, you are ready to apply for a Canara Bank locker.

How to Open Canara Bank Locker Online?

Booking a bank locker has become a simple process with the help of internet banking. Follow this step-by-step guide to open your Canara Bank locker:

• Step 1: Visit the official website of Canara Bank.
• Step 2: Log in to your account by entering your customer ID and password.
• Step 3: Click on “Services” and then on “Apply for Locker”.
• Step 4: Choose the state, city and your nearest Canara bank branch.
• Step 5: Finally, click on the “Submit” button.

Alternatively, you can book your bank locker in person with Canara Bank, by visiting their branch.

How to Open Canara Bank Locker Offline?

Here is what you can do to apply for a locker in Canara Bank offline:

• Step 1: Visit your nearest Canara Bank branch.
• Step 2: Enquire the representative about the availability of locker services or vacant lockers.
• Step 3: Fill out the application form and submit it along with the necessary papers.

Finally, take a quick look at the rules and regulations applicable when it comes to Canara Bank lockers.

Canara Bank Locker Rules & Regulations

After knowing about the Canara Bank locker facility charges go through the list of rules and regulations which apply upon availing locker facilities:

1. You must be holding a Canara Bank account.
2. You must complete KYC formalities with Canara Bank.
3. Pay a one-time registration fee when the locker is allotted.
4. Pay a security term deposit to cover the locker expense for 3 years.
5. Remember that locker allotment depends on the availability of lockers and the discretion of the bank.
6. 1^st April is the due date for collecting the safe deposit locker rent every year.

Final Words

Once you are aware of the Canara Bank locker charges, bank locker features, eligibility criteria, required documents, etc. you can make an informed approach to book a locker today. Once you deposit your valuable assets in the locker, you can stay assured of their maximum safety without having to monitor them continuously. 

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This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.