Gold Locker: People often keep their jewelery in bank locker so that the jewelery remains secure. Keeping jewelery in the locker is a good option. There is no fear of theft from this, we can take it out whenever we want. The bank collects some charges in return and in return takes the responsibility of their security. But do you know that there are some rules for keeping jewelery in the locker, let us give you information about it today through this news-
How much gold can you keep at home?
According to the Income Tax Act, a married woman can keep only 500 grams of gold, whereas for unmarried women this limit is 250 grams. Apart from this, men can keep only 100 grams of gold in their name. That means, the limit for keeping gold in one’s house has been fixed differently for everyone. For example, if a married man and woman live in the same house, then they can have a total of 100 grams + 500 grams = 600 grams of gold.
Limit for keeping gold in locker
According to RBI, there is no maximum limit for keeping gold in a bank locker. However, the amount of gold being kept in the locker depends on the policies of the bank. Apart from this, you should also have proof that you have purchased the gold legally. Simply put, RBI has not made any rules regarding the amount of gold that should be kept in the bank locker. It depends on the customer how much gold he wants to keep in his bank locker. The bank cannot ask you what you have kept in your locker and why, unless you have kept something illegal in it.
Priority list for locker
Under the changes in banking rules after Diwali, now the person opening the locker will have to give a priority list. That is, while opening the locker, he will have to write to the bank as to who will be entitled to open the locker after his death.
Its purpose is to strengthen the security and prevent any kind of legal dispute in future. Earlier, after the death of the locker holder, a dispute would arise among the family members regarding the locker, but now due to the priority list, this will not happen. According to the list, the one whose name appears first will be entitled to open the locker. In his absence, second and thus second and fourth will come.
Also read:
How much gold can you keep at home? Action will be taken on reserving gold beyond the limit, know what are the rules?
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