Here is How I got Locker from HDFC Finally!

[sparkit]

So here is how I got an HDFC bank locker recently, and I thought I'd share my experience here. I had been in need of a bank locker for the past 3 months, and I visited Canara Bank, SBI, IOB, HDFC, and IDBI.


Here is what they said:


My first try was HDFC, as I was holding their Imperia account and my home branch is the head branch of the city. Despite this, it was very difficult to get a locker. They told me they would add me to the waitlist.


Canara Bank and SBI straightforwardly told me they didn’t have any lockers currently available and would add me to their waitlists.


IOB's branch manager requested a 1 lakh FD, which would be lien to the locker until we closed it.


IDBI asked for an FD of 5 lakhs.


After 2 months, I went again to HDFC. They told me only one locker was available, and they needed an investment ULIP of at least 1 lakh per year for 5 years for it.


This time, I was in great need as I was moving to another city for business purposes and couldn't keep gold at home.


So I started negotiating for the investment. The 1 lakh requirement went down to 75k and then to 50k. With GST, it came to around 52k per year.


Of that 52k, around 34k would be invested in equity, and 18k for term insurance with a sum assured of 50 lakhs, which was even cheaper than if I bought term insurance separately for the same amount directly.


So I finally paid that amount, and then came another twist.


Now, for new lockers, they started asking for security deposits. The branch manager asked me for a 1 lakh FD, which would be lien to the locker. I negotiated it down to around 25k and finally made a deposit of only 20k.


For me, there will be no yearly locker charges as I already hold an Imperia account.


Share your locker experiences below!

 

[sparkit]

@Vasuki tagging you, as you have requested in your profile post!

 

[IKFLRT]

They should remove "free locker" statement from the Imperia banking program terms or should edit it to "locker will be provided against ULIPs".

 

[_deb_]

They should remove "free locker" statement from the Imperia banking program terms or should edit it to "locker will be provided against ULIPs".

HDFC says AMC is Nil for one locker once you have it. They don’t say what is the “PRICE” to get one.

 

[suva]

Well this approach was the same I was asked by branch but instead I followed up with Imperiabanking Team over emails. Finally I was alloted a wait list number. Post march end, I asked for an update on the waitlist number again with imperia team, and finally I was called by branch for locker allotment at zero charges, investment or any lien deposits.

 

[sparkit]

Well this approach was the same I was asked by branch but instead I followed up with Imperiabanking Team over emails. Finally I was alloted a wait list number. Post march end, I asked for an update on the waitlist number again with imperia team, and finally I was called by branch for locker allotment at zero charges, investment or any lien deposits.

Thats nice. But I was in a hurry and I cannot wait no longer. So I have no other option than to negotiate with them.

 

[percolate]

If the locker is available in the branch but they are lying about availability and talking about waiting list, can't you complain about it to the bank?

 

[sparkit]

If the locker is available in the branch but they are lying about availability and talking about waiting list, can't you complain about it to the bank?

Not one locker, but they have a new whole set of lockers which I got to know only when they told me to select the locker I need.

 

[percolate]

Similar thing happened to me with Axis bank. I raised a complaint on the branch by calling phone banking and then branch manager responded positively.
Good thing with Axis is, we can check availability and book the locker through the app or net banking.

 

[Tejo]

So here is how I got an HDFC bank locker recently, and I thought I'd share my experience here. I had been in need of a bank locker for the past 3 months, and I visited Canara Bank, SBI, IOB, HDFC, and IDBI.


Here is what they said:


My first try was HDFC, as I was holding their Imperia account and my home branch is the head branch of the city. Despite this, it was very difficult to get a locker. They told me they would add me to the waitlist.


Canara Bank and SBI straightforwardly told me they didn’t have any lockers currently available and would add me to their waitlists.


IOB's branch manager requested a 1 lakh FD, which would be lien to the locker until we closed it.


IDBI asked for an FD of 5 lakhs.


After 2 months, I went again to HDFC. They told me only one locker was available, and they needed an investment ULIP of at least 1 lakh per year for 5 years for it.


This time, I was in great need as I was moving to another city for business purposes and couldn't keep gold at home.


So I started negotiating for the investment. The 1 lakh requirement went down to 75k and then to 50k. With GST, it came to around 52k per year.


Of that 52k, around 34k would be invested in equity, and 18k for term insurance with a sum assured of 50 lakhs, which was even cheaper than if I bought term insurance separately for the same amount directly.


So I finally paid that amount, and then came another twist.


Now, for new lockers, they started asking for security deposits. The branch manager asked me for a 1 lakh FD, which would be lien to the locker. I negotiated it down to around 25k and finally made a deposit of only 20k.


For me, there will be no yearly locker charges as I already hold an Imperia account.


Share your locker experiences below!

Locker against ULIP, HDFC

 

[ontherocks]

They should remove "free locker" statement from the Imperia banking program terms or should edit it to "locker will be provided against ULIPs".

There is no rule for the price to pay for the Imperia free locker. You can ask the branch manager to show whatever rule he is talking about and he won't be able to show any. They all get their targets fulfilled by exploiting the need of the customers.

 

[sauravkumar]

So here is how I got an HDFC bank locker recently, and I thought I'd share my experience here. I had been in need of a bank locker for the past 3 months, and I visited Canara Bank, SBI, IOB, HDFC, and IDBI.


Here is what they said:


My first try was HDFC, as I was holding their Imperia account and my home branch is the head branch of the city. Despite this, it was very difficult to get a locker. They told me they would add me to the waitlist.


Canara Bank and SBI straightforwardly told me they didn’t have any lockers currently available and would add me to their waitlists.


IOB's branch manager requested a 1 lakh FD, which would be lien to the locker until we closed it.


IDBI asked for an FD of 5 lakhs.


After 2 months, I went again to HDFC. They told me only one locker was available, and they needed an investment ULIP of at least 1 lakh per year for 5 years for it.


This time, I was in great need as I was moving to another city for business purposes and couldn't keep gold at home.


So I started negotiating for the investment. The 1 lakh requirement went down to 75k and then to 50k. With GST, it came to around 52k per year.


Of that 52k, around 34k would be invested in equity, and 18k for term insurance with a sum assured of 50 lakhs, which was even cheaper than if I bought term insurance separately for the same amount directly.


So I finally paid that amount, and then came another twist.


Now, for new lockers, they started asking for security deposits. The branch manager asked me for a 1 lakh FD, which would be lien to the locker. I negotiated it down to around 25k and finally made a deposit of only 20k.


For me, there will be no yearly locker charges as I already hold an Imperia account.


Share your locker experiences below!

Guys what has happened to the people here!!

How can they think to invest in ULIP in lieu of CC, Locker etc!!

Invest only in ULIP if you want to become poorer!!😡😡

FYI - You know out of 50K you invested, 20K straight goes to Bank Agent commision. So your actual investment is just 30K. Now imagine how much time it will take to get back to original investment amount and then return!!

I understand your urgency and need but they ideal approach to escalate it to the highest level and if need arises involve RBI OB also like our leader @sjmajumder . I got the locker in this way only!!

Because of Customer like you, HDFC gets the confidence of exploiting everyone in the name of ULIP!!

We should discourage this type of things!!

Note: This is my own view and I am expressing it.. not with the intention of hurting anyone!!

 

[Ash8]

Never knew we could have to struggle this much for a locker... Is it easier to get a locker if you would just pay for it? How much does a locker cost?

 

[Honeydew]

Guys what has happened to the people here!!

How can they think to invest in ULIP in lieu of CC, Locker etc!!

Invest only in ULIP if you want to become poorer!!😡😡

FYI - You know out of 50K you invested, 20K straight goes to Bank Agent commision. So your actual investment is just 30K. Now imagine how much time it will take to get back to original investment amount and then return!!

I understand your urgency and need but they ideal approach to escalate it to the highest level and if need arises involve RBI OB also like our leader @sjmajumder . I got the locker in this way only!!

Because of Customer like you, HDFC gets the confidence of exploiting everyone in the name of ULIP!!

We should discourage this type of things!!

Note: This is my own view and I am expressing it.. not with the intention of hurting anyone!!

Hey, could you please let me know how you complained to RBI?

I am also a HDFC Imperia customer and branch people saying there is 500+ waiting for locker. However, an employee from branch is saying if I upgrade to wealth account and move existing investment portfolio (zerodha to hdfc wealth) they will allocate a locker.
That means they have a locker but will provide only on upgrading to wealth account.
Isn't this a miss selling?

 

[ontherocks]

Hey, could you please let me know how you complained to RBI?

I am also a HDFC Imperia customer and branch people saying there is 500+ waiting for locker. However, an employee from branch is saying if I upgrade to wealth account and move existing investment portfolio (zerodha to hdfc wealth) they will allocate a locker.
That means they have a locker but will provide only on upgrading to wealth account.
Isn't this a miss selling?

Can you get them to mention the same thing on email (for evidence). Then you can complain to RBI and surely teach them a lesson.

 

[ontherocks]

Never knew we could have to struggle this much for a locker... Is it easier to get a locker if you would just pay for it? How much does a locker cost?

You don't have to struggle for anything in life if you pay a sum for it.
You don't get the point people are discussing here.

 

[amitkssolanki]

Hey, could you please let me know how you complained to RBI?

I am also a HDFC Imperia customer and branch people saying there is 500+ waiting for locker. However, an employee from branch is saying if I upgrade to wealth account and move existing investment portfolio (zerodha to hdfc wealth) they will allocate a locker.
That means they have a locker but will provide only on upgrading to wealth account.
Isn't this a miss selling?

I was also on the same boat as you. Imperia customer for several years. I had a virtual RM. Made failed attempts several times to secure a locker. Had same experience with branch manager at my home branch. What worked for me was a simple escalation email to imperia banking email id and the branch executive called himself and requested to visit branch. Got locker allotted within an hour of visiting bank.

 

[sparkit]

Guys what has happened to the people here!!

How can they think to invest in ULIP in lieu of CC, Locker etc!!

Invest only in ULIP if you want to become poorer!!😡😡

FYI - You know out of 50K you invested, 20K straight goes to Bank Agent commision. So your actual investment is just 30K. Now imagine how much time it will take to get back to original investment amount and then return!!

I understand your urgency and need but they ideal approach to escalate it to the highest level and if need arises involve RBI OB also like our leader @sjmajumder . I got the locker in this way only!!

Because of Customer like you, HDFC gets the confidence of exploiting everyone in the name of ULIP!!

We should discourage this type of things!!

Note: This is my own view and I am expressing it.. not with the intention of hurting anyone!!

I completely understand your point. I too thought the same like you when I found out that there are soo many traditional ULIPs in the market that gives soo little returns and people are blindly purchasing it.

But here in my case, I have invested in market linked ULIP. It means on the amount 50k, 34k would directly go into equity and the fund I selected is Midcap momentum. Average Midcap funds return CAGR is more than 25% per year.

And then coming to term Insurance part, I don't have a term insurance of more than 20L sum insured. So I was already thought of buying a term insurance of atleast 50L.

So I checked phonepe and I found out for the same 50L sum insured, I have to pay yearly premium of atleast 27k per year for 5 Years.

But I am paying only 18k here for the same insurance cover.

Also all the charges they are charging now I will get it as doubled from 10th year.

And then, here I don't want to pay tax for the amount I have paid for the insurance and also the returns I will be getting during maturity is tax exempted.

Also I got a locker from the head branch in my City which I don't have to pay yearly fee also.

So for me it's worth it.

This investment is only for someone who don't need that fund for a long term to get the most return.

Nowadays ULIP plans have changed so much compared the plans 10 years before where the returns are 3%.

@SSV bro is also planning to create a thread based on his returns soon. So everyone's POV might change regarding recent ULIPs.

 

[Firewing224]

Well this approach was the same I was asked by branch but instead I followed up with Imperiabanking Team over emails. Finally I was alloted a wait list number. Post march end, I asked for an update on the waitlist number again with imperia team, and finally I was called by branch for locker allotment at zero charges, investment or any lien deposits.

What is the imperia banking email id?

 

[Firewing224]

I

What is the imperia banking email id?

Need a locker as well but can wait. Preferably in my home branch itself.