Bank with Additional Safe Deposit Box Insurance

Week 7.3 Bank with safe Deposit Box Insurance

Most of the bank has a standard insurance of RM10,000.00 per safe deposit box.
From my survey, there are only 2 banks with additional insurance protection.

Public Bank
Safe Deposit Box under coverage by www.lonpac.com a subsidiary of Public Bank Group, you can add additional insurance protection up to RM200,000.00
The problem is most of the safe deposit box is full in most branches especially the strategically located one. You need to call each one of them one by one to find out. I just done have the time to do that.

RHB Bank
Safe Deposit Box under Underwritten by RHB Insurance Berhad a subsidiary of RHB Group, you can add additional insurance protection up to RM40,000.00 with a fee of RM90.00 per year. All the info is below here, you can do your own home-worklah. I’ve done most of the work already.

http://www.rhb.com.my/insurance/bancassurance/mysafe_deposit_box.html
http://www.rhb.com.my/rate_charges/service-charges/sc_others_sdbr.html
http://www.rhb.com.my/rate_charges/service-charges/sc_others_sdbr_tier1.html
http://www.rhb.com.my/rate_charges/service-charges/sc_others_sdbr.html

CIMB Bank

CIMB has a new building in Jalan Raja Laut, since it’s a new building it must have a safe deposit box facilities and perhaps it may be quite secure. New building, new technology perhaps!. Visit them some time back, they ask me “Are you a CIMB preferred member?” I asked how to qualify to become one. Just maintain RM200K balance with us. Wow! I guest silver need to be RM2000/- oz then I will qualify. The person is kind enough to give me details on other branches.

Tips now! CIMB Jalan P Ramlee still got safe deposit box available. Go go go!
But only RM10,000/- insurance only

Third Party Insurance
I think there are some third party insurance available for safe deposit box. You just need to put more effort in finding it.