Safe Deposit Boxes

Safe deposit boxes aren't that expensive. They are definitely worth the peace of mind our clients receive. Boxes are available at all three Peoples Bank of the South offices. Yearly rental rates start at $20.00 and the largest box is $65.00 a year. Do you have valuables or important papers that need to be in a safe place? Call or visit one of our convenient locations to reserve your safe deposit box today.

NOTE: The client must have an account with Peoples Bank of the South to rent a safe deposit box.

A safe deposit box can do more than protect your valuables. It can also cut your insurance bill. If you own valuables such as jewelry or coins, having them around the house can drive up the cost of your homeowner's insurance. That's because you must pay for the floaters or riders that specially cover personal property in case of theft or damage. Without floaters, standard policies limit coverage to $1,000 to $2,000 per item. Keeping valuables in a safe deposit box eliminates the need for the floater policy.

"It is important to keep a list of contents of the safe-deposit box," says John Hall, spokesman for the American Bankers Association. Alternatively, he suggests taking a photo of what you keep in the box. Another piece of advice, "don't keep something in the box you may need over the weekend."