Define explain the following concepts. 3. Safe deposit vault

Define explain the following concepts.
3. Safe deposit vault    
Answer: 

Safe deposit vault: Safe deposit vault facility is the general utility service offered by commercial banks. Under this service, consumers are allowed to retain their valuables such as shares, bonds, gold and silver ornaments etc. in the lockers at a payment of a fixed rent. This service provides the customers with privacy and easy access to their valuables.

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