A safe deposit box is a strong storage container that is kept and maintained in a bank vault area and is rented to bank customers for the safekeeping of valuables such as important documents, gems, jewelry, family heirlooms, and plus. The box would be a fireproof metal box. Access to individual boxes is usually through two different keys, one is given to the customer and the other would be kept in the bank.
There are different sizes of key safes and they are quite safe in the mini vaults where they are hidden in the bank. You can contact the bank of your choice if your items are large so they can discuss possible options with you. A key deposit will be required and will be refunded at the end of your rental after the keys are returned.
Different people have different ways of securing their important documents or things of great value to them. Some prefer to buy a metal cabinet in their office or home and secure it with a padlock or some just buy their personal vaults and keep them hidden in a secret place in the house. For people who can afford it, they prefer to rent a safe deposit box at a bank of their choice.
Banks have now limited box rentals to existing customers only; therefore, new customers will have to look elsewhere. There are private institutions that focus on providing security vaults. However, they are only found in major cities.
Some box sizes (height, width, depth in mm)
- AA-100mm, 140mm, 445mm
- AB-125, 140, 445
- A-60, 280, 460
- B-90, 280, 460
- C-180, 280, 460
- D-240, 610, 460
- E-300, 280, 460
- F-330, 610, 460
- G-535, 280, 460
- M-840, 295, 940
How to rent a safe:
- You will first decide who will have access to your safe deposit box. You can rent a box together with your spouse or a family member.
- Determine what items you are going to store because you will be prompted to choose a box size. Safes are available in various sizes and please note that rental rates vary.
- The last step would be to complete the rental agreement. You must provide proof of identity for everyone who will be on the account and have the rates ready on hand at the time you sign the agreement.