City Union Bank Locker Nomination, Add Nominee in City Union Bank Locker

A bank locker is a safe deposit box provided by banks to their customers for storing valuable items such as jewelry, important documents and other such items. It provides a secure space for storing valuables that are not needed on a daily basis. People can rent these lockers by paying an annual fee. In India, bank lockers are very popular among individuals who want to keep their precious items like gold, jewelry, important documents, and other valuable assets safe. The locker can be opened only by the person who holds the key to it. To nominate someone for a bank locker, the owner needs to fill out a nomination form provided by the bank. The form requires the name, address, and relationship of the nominee with the locker owner.

How to add nominee in city union bank limited locker?: Adding a nominee to your bank locker is important as it makes sure that your locker valuables are transferred to your nominee in the event of your death. It is a simple process and can be completed by following a few steps. A person can open a locker in a bank either singly or jointly. If he/ she is opening the locker singly then it is advisable that he/ she must add a nominee in that locker so that the nominee can receive the proceeds of the locker in a hassle-free manner after the death of the locker holder. Joint locker holders should also add nominee.

Locker owner/s can make nomination by filling up the Form available at their banks. You should choose a nominee with due care to a person who is reliable enough to take care of proceeds of your locker or your assets in the event of your death.

Adding a nominee to your safe custody or locker is a simple and important process that can save your loved ones from unnecessary legal hassles. Make sure you complete this process as soon as possible to ensure that your valuables are transferred to your nominee in case of any unfortunate event.

Who is a Nominee in Bank Locker?

Bank locker nominee is an individual who has access to the locker in case of death or incapacity of the locker owner. The nominee is not the owner of the locker but has the right to access it. The nominee acts as a trustee and receives the claimed proceeds from the bank locker as a trustee of the legal heirs.

The nominee is only authorized to access the locker and remove the belongings. The legal ownership of the items will be determined based on the locker owner's will or succession laws applicable to them.

Duty of a Nominee in Bank Locker

It is important to note that the nominee does not have any ownership rights over the contents of the locker. They can only access it in case of the owner's death or incapacity. The contents of the locker will be handed over to the legal heirs of the owner after completing the necessary formalities.

Who can Appoint Nominee in Bank Locker?

In India, any individual who has opened a bank locker in his/her name can appoint a nominee for the same. It is not mandatory to appoint a nominee, but it is always advisable to do so to avoid any legal complications in the future. The locker owner can nominate a family member or a trusted friend as a nominee.

Who can become Nominee in a bank locker?

Anyone can become a nominee. The bank locker nominee can be any person - a family member, a friend, or even a business partner. The only requirement is that the nominee must be a trusted person who can be relied upon to take care of the contents of the locker in the event of the owner's death or incapacity.

Minors cannot be nominated for a locker. However, in case of a minor nominee, you can appoint a trustee who will act on behalf of the minor.

What happens if there in no nomination in Bank Locker?

In case the locker owner has not appointed a nominee for the bank locker, the legal heirs of the deceased locker owner can approach the bank to access the locker. However, this process can be time-consuming and may involve legal procedures. Hence, it is always advisable to appoint a nominee for the bank locker.

How to Add Nominee in city union bank limited Locker?

In order to add nominee in city union bank limited locker, please go through the following process:

Step (1): Visit your home branch of city union bank limited where you have your locker

First, you need to visit city union bank limited bank home branch, it is the branch where you hold the safe custody or locker. You should carry your identity proof, address proof, and a photograph of the nominee. The bank may ask for additional documents such as a nomination form or a letter from the nominee stating that they accept the nomination.

Step (2) Obtain Nomination Form for Locker from the bank

You ask for providing Nomination Form for locker from the bank. This form is required to be filled by you when you want to register a nominee in your locker.

Step (3) Fill up the Nomination Form for locker

You need to fill up nomination form mentioning all the details of the nominee such as name of nominee, relationship, address of nominee, contact details of nominee, etc.

This form requires you to provide your name, address, locker details, and the name and address of your nominee. Make sure that all the information you provide is accurate as any errors may delay the nomination process. Then you need to sign the form. All the locker holders need to sign the form in case of joint holding.

Check all the details once again like name and address of the nominee is correctly spelt/ mentioned before submitting the form to your bank.

Step (4) Submit Nomination Form for locker to your bank

Submit duly filled in nomination form at branch along with the other necessary documents.

Step (5) Processing of Nomination Form

The banker will check the form and if the same is complete in all respects, he/ she will process your request to add nominee in your locker. It usually takes 2 to 3 working days to get it processed. You will receive a confirmation once the nomination is registered.

How to Add Nominee in city union bank limited locker Online Banking?

First of all, you need to check whether city union bank limited provides online banking facility. If yes, then please follow below mentioned process in order to add nominee in city union bank limited locker Online Banking:

  1. Visit your bank's website.
  2. Login to your personal account through your login credentials i.e. user name and password.
  3. Check up the list various available options.
  4. If you have nominee facility in this, fill up the details of nominee such as name of nominee, relationship with the nominee and address of the nominee.
  5. Check all the details once again like name and address of the nominee is correctly spelt/ entered.
  6. Click on Submit Button.
  7. You will get a notification on the screen for submission of form.
  8. The bank will process your request.

How a Nominee Can Claim in Bank Locker?

In case, the locker holder passes away, their nominees can claim the contents of the locker. Here is how a nominee can claim in a bank locker in India:

  1. Firstly, the nominee needs to provide a copy of the death certificate of the locker holder. The nominee also needs to submit a claim form provided by the bank, which should include the details of the locker holder and the nominee. The form should be duly signed and attested by a notary public.
  2. Secondly, the nominee needs to provide valid identification proof such as an Aadhar card, PAN card, voter ID, or passport. The bank may ask for additional documents as per their internal policies.
  3. Thirdly, the bank may ask the nominee to submit a succession certificate or a legal heir certificate issued by the court if the locker holder had not nominated anyone for the locker. In the case of a joint locker, the surviving locker holder can claim the contents of the locker by providing the necessary documents.

Once the nominee submits all the required documents, the bank will verify the documents and conduct a physical verification of the locker. After the verification process is completed, the bank will hand over the contents of the locker to the nominee.

Points to Remember for Nomination for Bank Locker

  • Don't forget to ask for an acknowledgement after the submission of the nomination form.
  • Always fill up the nomination form while opening a new bank locker.
  • Check all the details once again like name and address of the nominee is correctly spelt/ written before final submission of form of nomination.
  • It is important to note that the nomination made for your safe custody or locker will not affect the distribution of your assets mentioned in your will. Therefore, if you have a will, make sure that your safe custody or locker is not included in it.
  • If you wish to change your nominee, you can do so by submitting a new nomination form to the bank. It is advisable to review your nominee periodically and update it if necessary.
  • All locker holders (i.e. new and existing) are advised to avail nomination facility, if they have not availed so far.
  • It is essential to keep the nomination form up-to-date. In case of a change in the nominee, you need to inform the bank and fill up a new nomination form

What Happens in case of Death of Locker Holder as well as Nominee in Bank Locker?

In case, both the locker holder and the nominee die, the legal heirs of the deceased locker holder can access the locker and remove its contents. The legal heirs will need to provide following documents in order to access the locker contents.

  • Proof of death of the locker holder i.e. a copy of the death certificate
  • Proof of death of the locker nominee i.e. a copy of the death certificate
  • Photographs and KYC of all claimants and legal heirs
  • A letter of disclaimer duly stamped and notarized
  • A letter of indemnity duly stamped
  • A declaration as per point number 5 in application form (Form No.33 (revised))

Inventory Preparation

The bank will prepare an inventory of the locker's contents in the presence of the legal heirs and two independent witnesses.

Access by Legal Heirs

The legal heirs can access the locker and remove its contents after providing the required documents and establishing their identity.

If the locker was hired jointly, the nominee(s) and the survivor(s) can jointly remove the contents of the locker after an inventory is ready. They can also keep the entire contents with the bank by entering into a new contract for hiring a locker.

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