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The main purpose is to keep your valuables safe and out of your house where they could be stolen, or destroyed by water, fire, etc.,

A safety deposit box is kept in a fireproof area in the bank and is certainly safe from theft.

In Canada the amout you pay for a safe deposit box is tax deductable.

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Q: What is the main purpose of a safe deposit box?
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Related questions

Is it a safety deposit box or safe deposit box?

safe deposit box


Is a home safe as secure as a bank safe deposit box?

No. Definitely not. A Banks safe deposit box is much much safer than a safety deposit box in a home.


What are the dimensions of a safe deposit box?

certificate of deposit


Can a bank freeze your safe deposit box if i go into foreclosure?

No. The Lender probably doesn't even know you have a safe deposit box.


Where can I get a cheap safe deposit box?

You can get a cheap safe deposit box on amazon.com. If it is over 25 dollars you get free shipping. Free shipping is the best! Or you can go to your bank and purchase a safety deposit box.


What is a safe deposit receipt?

A safe deposit receipt is a receipt for the payment of renting a safe deposit box at a bank. Some banks charge a monthly fee for this type of safe.


What bank with a safe deposit box is trustworthy?

The Dollar Bank or HSBC bank offer safe deposit box for it's customers. They are very secure with a very high level security and monitoring system. The price of owning a safe deposit box is reasonable as well!


How can I find about more about safe deposit box?

More information about safe deposit boxes can be found at financial sites like Bankrate or the FDIC website. A safe deposit box is typically used for difficult to replace items and for privacy and security.


How do you find out if your husband has a safe deposit box?

Ask him.


How much does it cost to rent a safe deposit box?

It costs me $50/year to rent the smallest safe deposit box available at my local Bank of America branch.


Where can I rent a safe safety deposit box in Bangor, ME ?

There are many banks in Bangor, ME, were one can rent a safety deposit box. Bangor Savings Bank rents safe deposit boxes, and has several locations in Bangor.


What Desert Schools branches have customer safe deposit boxes?

What kind of forms do you need to fill in for a safe deposit box for schools