Articles like shares, securities, etc., can be kept in safe custody with the Bank on prescribed charges wherever such facility is offered. Large/small boxes must be locked by the customer(s) and particulars must be written/painted thereon.The lock should be covered by stout cloth and sealed with the customer's seal. Relationship of Banker and customer shall be that of Bailer and Bailee.
Nomination facility is available for all deposit accounts, articles in safe custody and safe deposit vaults.
Nomination is available for accounts opened in individual capacity (i.e. single/joint accounts as well as accounts of a sole proprietory concern) only, i.e. not for accounts opened in representative capacity.
Nomination can be done in favour of one person only. However, nomination in favour of more than one person (i.e. upto 2 persons) is permissible in jointly operated locker accounts with common consent.
Nomination can be made, cancelled or varied by the account holder anytime during his/her life time. While making nomination, cancellation or variation, witness is required and the request should be signed by all account holders.
Nomination can be made in favour of a minor also.
For the existing accounts where nomination is not made, the account holder/s can do so by filling up form available with the branches.
Customers (new as well as existing) are advised to avail nomination facility, if they have not availed so far.