Union Bank of India LOCKER APPLICATION from Download

The new document in the PDF is the Union Bank of India Safe Deposit Vault (SDV) / Locker Application Form (locker-app… p. 1). It is used by account holders to rent a secure physical locker at a bank branch (locker-app… p. 1).

• Applicant Demographics: Fields for applicant names, passport photographs, addresses, mobile numbers, dates of birth, and occupational codes (locker-app… pp. 1, 3).
• Locker Preferences: Sections to log preferred locker sizes, access passwords, and the desired lease term (locker-app… p. 1).
• Auto-Debit Authorization: An integrated mandate allowing the bank to automatically deduct annual advance rent from the applicant’s linked savings or current account (locker-app… p. 1).
• Security Deposit Lien: A mandate to block or create a “lien/charge” on a specific bank Fixed Deposit (FD) (locker-app… p. 1). This deposit covers unpaid locker rent, auxiliary charges, or key replacement fees (locker-app… p. 1).
• Locker Nomination (Form SL1/SL1A): A legal provision to nominate a person who can access the locker and retrieve its contents in the event of the primary holder’s death (locker-app… p. 2). If a single individual owns the locker, only one nominee is allowed (locker-app… p. 2).
• Witness Verification: Requires two witnesses to sign only if the locker applicant is illiterate and provides a thumb impression (locker-app… p. 2).
• Updated RBI Agreement (Page 4): A standardized cover letter aligning older, existing locker holders with the revised August 18, 2021 RBI safety guidelines (RBI/2021-2022/86) (locker-app… p. 4).

• Late Payment Penalty: The bank charges a 18% interest penalty on overdue locker rental fees, subject to a minimum charge of ₹5 (locker-app… p. 2).
• Break-Open Authority: The bank retains the legal right to forcefully break open the locker before its lease expiry if rent is unpaid or to adjust outstanding dues via the linked security deposit (locker-app… p. 1).
• Liability Disclaimer: The document clarifies that the bank does not log or maintain records of the specific items stored inside the locker (locker-app… p. 2). Consequently, the bank holds no liability for the protection or damage of those individual items (locker-app… p. 2).
• Handover Acknowledgment: A receipt section at the bottom where the customer signs to confirm they have received the locker and its key in clean, working condition (locker-app… p. 3).

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