Safe deposit box lease

The International Bank of Azerbaijan offers you the lease of individual safe deposit boxes to keep important documentation and valuables.

What is deposit box?

Individual safe deposit located in the branches of the bank, which may be leased by the customers for safekeeping of securities and records, jewellery, works of art and other valuable items.

How to ensure the safety of deposit boxes?

Deposit boxes are available at the depository of the International Bank of Azerbaijan. Deposit boxes features two locks and two keys which differ from each other. Lock number one can be opened only with key number one and same for the lock number two. Deposit box opens only with the combination of two keys. One of the keys is kept by the client, the other is kept in the treasury of the bank branch.

How is ensured the confidentiality of the items in the deposit box?

The deposit cell area is maintained in appropriate condition and completely secured against any unauthorized access. Next room to the deposit cell area is a control room with the video camera at the entrance.The deposit cell area is equipped with a telephone to communicate with the responsible person.

How the lease of deposit box is carried out?

To lease the deposit box the lease  contract to be signed.

What documents are required for the lease of deposit box?

•  Application;
• A notarized copy of the document confirming the identity of the authorized person.

The deposit box rental fee paid full in advance and depend on the size of the box:

Box dimensions Rental (per 1 month)
Small box (less than 1500 sq/cm) 20 AZN (VAT excluded)
Large box (more than 1500 sq/cm) 40 AZN (VAT excluded)

Can the use of deposit box be appointed to the third person?

The appointment to the third person should be based on a notarized power of attorney. In this case, the information on third person should be indicated in the application.
What is the duration of the lease contract?

A minimum lease period for a deposit cell is 1 day, maximum lease period is 1 year.If the customer does not terminate the contract after the end of the lease term, the contract will be automatically extended for the period of previous term.

What should customer do in case of loss of the key?

Customer should apply to the bank branch with the application. The deposit box is being opened in the presence of the client and special Commission. Installation of the new locks, keys and other related costs are paid by the customer.

Who obtain ownership of the deposit box in case of death of the customer?

In case of death of the customer its rights distributed according to the law of inheritance. In this case, if the lease contract was not extended and the rental fee was not paid by the customer, rental fee must be paid to the Bank by the customer’s successor.

You can rent safe deposit boxes in Central, Yasamal, Nagliyyat, Sanaya, Nasimi, Sumgait, Sabail and Gyandja city branches of IBA and also in Customer Service Department.