You can get 30% discount on safe deposit box rental rates for the first year when you open a new safe deposit box account with RHB. The promotion is valid until 15th October 2013. Not all bank branches offer safe deposit box service, you can refer to the list of the branches here.
There are four sizes of safe deposit box available and the annual rental rate is based on either Tier 1 or Tier 2 depend on branch location:
|Type||Box Size||Tier 1||Tier 2|
|A||Below 600 cubic inches||200||180|
|B||601 to 1,000 cubic inches||250||220|
|C||1,001 to 2,000 cubic inches||300||260|
|D||Above 2,000 cubic inches||350||300|
Other than that, you also need to beware of the charges below:
|SERVICE||COMMISSION / SERVICE CHARGES / INTEREST|
|Initial key deposit upon opening of account||RM150|
|Stamp duty on agreement||RM10|
|Lost / Replacement of Keys|
|Lost 1 key : Replacement||Actual cost subject to minimum RM100|
|Lost 2 keys : Force Opening||Actual cost subject to minimum RM300|
|Force Opening Charges||Actual cost incurred|
The charges for safe deposit box are not much different for all banks. For certain banks, it is compulsory to purchase additional insurance for the safe deposit box while some banks already cover for the minimum insured amount. In my opinion, if you are interested to get a safety deposit box, find a bank branch that is nearer to your house, with ample parking space and has the safety deposit box size that suits you.