Getting a safe-deposit locker in a bank is difficult. Many bank branches don’t even offer such services. And the ones which having this facility want their customers to either have a fixed deposit or an insurance policy with the bank.
Tapping this opportunity, private players have started offering the service. The latest entrant in this space is real estate developer, Ajmera Group, which recently launched Ajmera i-Safe in Mumbai.
“The vaults are constructed as per specifications prescribed by the government and match the security features found in any bank,” said Bandish Ajmera, director, Ajmera Group. The annual charges for renting a locker at Ajmera i-Safe is between Rs 1,145 and Rs 13,740, depending on size of the locker. While Axis Bank charges annual rent of Rs 1,500-Rs 12,000 for a locker, State Bank of India charges Rs 800-Rs 8,000, plus service tax.
Navkettan Lockers, which offers services in Hyderabad and Secunderabad, charges Rs 11,628-Rs 38,304 per year. This includes admission fee ranging between Rs 6,000 and Rs 9,600. Navkettan has been offering the service for 40 years now. Another such player is India Safety Vault, which has branches in read more..
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