A safety deposit box is a secured container that is made up of metal. These boxes are then kept in a safe or a vault of a secured bank or credit union. Safe deposit boxes are used to store important documents, jewelry, and other valuables. Many countries including Singapore have a safe deposit box singapore.
How does a safe deposit box work?
You need to rent a safe box after which they will provide you with a key, or else if a bank has a keyless operating system then you need to scan your finger or your hand. You can either rent it individually or add someone else to the lease. People other than the individual have equal access to the safe box.
The things to be kept in a safe deposit box.
- Personal papers like a birth certificate, marriage certificate, citizenship certificate, etc.
- Educational papers like School certificates and diploma certificates.
- Sensitive documents
- Important contacts.
- Business papers and records
- House deed
Important Thing to Remember
Before storing your assets in the safe deposit box make sure that the documents and other valuables are not frequently required to you. So, make sure you choose the items carefully.