Lock Box

It is a slotted locked box to which staffs of the Bank branch alone holds the key.

Underlying Features of the Product

  • No matter what customer business is, whatever customer do, customer can save even fraction of cents every day but customer don’t need to come to our bank every day;
  • The services described here might be offered weekly, bi-weekly, daily or when depositors want;
  • The box provides a round-the-clock deposit service while withdrawals can be made only when a collector visits or the saver goes to the branch;
  • In all cases, frequent, convenient access is the key to collecting savings before it is consumed;
  • Although these services may be financially viable or nearly so, they typically are not lucrative so interesting financial institutions in offering them can be challenging;
  • While customers/users of the product are ideal for collecting small change, after a time, the practice of saving may be needed to encourage them to continue saving.