If you have some valuables that you want to keep such as money, jewelry, insurance policies, original deeds, titles, mortgages etc., you may find yourself heading to a local bank to obtain a secure box. Acquiring a safe deposit box is reasonably priced in many banks. Safety deposit boxes are a must have to keep important documents that you may need in an emergency.
The rent per year for a safe deposit box charges by the size and number available at each bank location. Most banks fees are in the same range. You should check with your bank for sizes, fees and readiness of the box. Most banks will require that you go into the branch itself to get quotes on the box.
There are many various sizes that you can get with a bank. Listed down here is the average cost of a box throughout different banks.
- According to research, the normal charge of safe box costs from $30 up to $75 a year.
- Bank of America charges $190 up to $200 for a size of 17×15, $30 for a size of 2×5 and has the same charges for 10×10 box.
- Chase Bank has over a lot of d sizes to choose from. A 2×5 can cost you $60 to $65 per year.
- For Citibank, a box a size of 2×5 is $20 for a yearly charge and a charge of $3,320 for a size of 24×48 is as a yearly fee.
- Wells Fargo also has various sizes to choose from. For a 2×5, this is $40 annually, while their 10×10 is $120 per year
Where are safe deposit boxes located?
Safe deposit boxes are usually located in the vault section of the banks. This vault is made of cement and steel. When you rent a safe deposit box, you are issued two keys which fit only in to your safety deposit box. Each key must be kept in a safe place and separately. Some banks may oblige a key deposit fee. This deposit fee can cost you $10 to $30. If you lose your key in the long run, you will have to pay a locksmith fee, or even a fee that the bank chooses.
If you are planning to have one for your home, the SentrySafe H2300 can cost you anywhere from $40 up to $60. There are many other various makes and models that may be in this price range.