NRI Bank Locker agreement renewal
As per RBI guidelines released on Aug 18, 2021 banks are directed to formulate a new Locker agreement and renew the same with their customers by Dec 31, 2023. Customers availing a Locker facility with ICICI Bank can download the agreement and visit/send documents to India branch to complete the formalities at the earliest.
Accordingly, your Safe Deposit Locker Agreement has to be renewed and requires signature(s) of all account holders including joint holders.
Renewal can be done in the following ways:
A. If you are presently visiting INDIA
- Visit an ICICI Bank Branch to complete the renewal formalities as per the new agreement
- Ensure all account signatories have signed on the agreement
B. If you are presently ABROAD
- Download, print, sign and dispatch the physical agreement to ICICI Bank India Branch address*
- Single Account holders can send the signed physical agreement directly to ICICI Bank India Branch address*
- If the Joint Account holder is a resident Indian, you may dispatch the physical signed document to the resident holder’s address in India, who can send it to ICICI Bank India Branch address*
Once the agreement is received, the Stamp paper formalities shall be completed by the Branch. Please note that the Stamp Duty charges are borne by the customer and are applicable as per the State laws. Kindly ignore if the agreement has already been renewed.
Frequently asked questions:
(a) Is KYC required for locker agreement renewal?
No, KYC is not required
(b) Can locker agreement be submitted at non-base branch?
Yes, Non Base branch can collect the agreement and send to base branch
(c) Where can I find the Standard operating procedure, Standard agreement for Safe Deposit locker, Fees & charges, Branches with Locker services?