Sakthi Finance Lockers

Sakthi Finance India Limited, a non-banking finance company (NBFC) with a strong presence in South India, also offers locker facilities at select branches. While not their core business, these lockers provide an added service for their customers, particularly those with lending or deposit accounts. Here's a look at what you should know about Sakthi Finance lockers: **Availability and Location:** Locker services are not universally available at all Sakthi Finance branches. Typically, they are offered at larger, more established branches, especially in urban and semi-urban areas. To confirm availability, it's crucial to contact the specific Sakthi Finance branch you're interested in. Their website may offer a general overview of services, but direct communication with the branch will provide the most accurate information. **Size and Rental Charges:** Sakthi Finance offers lockers in varying sizes to cater to different storage needs. The dimensions range from small lockers suitable for jewelry and documents to larger ones that can accommodate more substantial items. Rental charges are determined by the size of the locker and are typically payable annually. These charges are competitive, often aligning with rates offered by cooperative banks and smaller private sector banks. Security deposits are also usually required and refunded upon surrender of the locker. Exact rental and deposit amounts vary by branch and locker size, so again, direct inquiry is key. **Security Measures:** Sakthi Finance emphasizes the security of its locker facilities. Branches typically employ standard security measures such as CCTV surveillance, strong room construction conforming to industry standards, and dual key systems (where the customer holds one key and the bank holds the master key). Only the joint operation of both keys allows the locker to be opened, ensuring a high level of protection. Security personnel are also often present during business hours. **Application Process and Documentation:** To rent a locker at Sakthi Finance, you'll need to be a customer, usually holding a savings or deposit account with them. The application process involves submitting a formal request, providing KYC (Know Your Customer) documents like Aadhaar card, PAN card, and address proof, and signing a locker agreement outlining the terms and conditions of the service. Joint locker operation is typically permitted, allowing multiple individuals access to the locker. **Nominee Facility:** Like other financial institutions, Sakthi Finance offers a nomination facility for their lockers. This allows you to designate a nominee who can access the locker contents in the event of your demise. Proper nomination simplifies the process of accessing the contents for your legal heirs. **Advantages of Choosing Sakthi Finance Lockers:** * **Convenience for Existing Customers:** If you already bank with Sakthi Finance, having a locker at the same location can be highly convenient. * **Competitive Pricing:** Their rental charges are often competitive compared to larger banks. * **Localized Service:** As a regional player, Sakthi Finance often provides personalized service and a more direct customer interaction. **Points to Consider:** * **Limited Availability:** Lockers are not available at all Sakthi Finance branches. * **Business Hours Restrictions:** Access to the locker is limited to the branch's operating hours. * **Limited Insurance Coverage:** Sakthi Finance is not responsible for the contents of the locker. It is highly recommended to obtain separate insurance coverage for valuable items stored in the locker. Before renting a locker, carefully assess your storage needs, compare rental charges and security features at different banks or NBFCs, and thoroughly understand the terms and conditions of the locker agreement. Contacting the specific Sakthi Finance branch you are considering will provide the most relevant and up-to-date information.