Bank Locker Facility in Chennai

I just opened a savings bank account with locker facility in "State Bank of Mysore" in Tharamani near Perungudi.

The bank manager asked me to open a savings account with Rs 30,000 in fixed deposit so that the interest from fixed deposit covers the Annual charges for Locker of Rs 2500 per year.

12 Vists per year to the locker are free and further visits are charged.

While inquiring, I also found that ICICI Bank in Besant Nagar and Alwarpet have Locker availability.

Most nationalized banks have waiting list for lockers, so get one soon near your permanent residence.

Bank lockers are relatively secure for a individual to shop his/her belongings for a time interval. The lockers are designed to be safe and well outfitted with alerts and other notifying gadgets.

The main functions of a bank include raising funds by attracting deposits, borrowing money in the inter-bank market, and issuing financial instruments in the money market or a securities market and then lending out most of these funds to borrowers including companies, individuals or government. Other services rendered by banks are facilitating international payments, issuing credit cards, provisioning safe locker facilities for valuables, project financing, merchant banking facility, online banking, personal banking, and investment banking.