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!

 

[vine]

I am trying to get a locker from HDFC and I have been told by the BM that a person has recently surrendered a locker and it will take 3-4 months for a new lock to be replaced in the locker.
Is it true? is that how it works? Wil I really take that long?

Looks like some new potent sh#t HDFC started smoking.
We all need to be careful.

 

[KGSIPO]

Looks like some new potent sh#t HDFC started smoking.
We all need to be careful.

Does bank changes the lock whenever locker is given to a new customer. I haven't heard off. Which bank doing lock changing wherever customer got changed

 

[vine]

Does bank changes the lock whenever locker is given to a new customer. I haven't heard off. Which bank doing lock changing wherever customer got changed

Correct.
Never heard of it.

 

[sjmajumder]

I am trying to get a locker from HDFC and I have been told by the BM that a person has recently surrendered a locker and it will take 3-4 months for a new lock to be replaced in the locker.
Is it true? is that how it works? Wil I really take that long?

Forget about taking that long, I have never heard that locker locks are changed when someone surrenders a locker. BM is probably saying the same thing to multiple locker 'aspirants' and buying time to negotiate the best deal.

 

[anujdit]

Locker rent is part of branch revenue and it is upto BM to negotiate best deal for locker allocation. Every branch has few lockers available, but BM keep them for premium customers. If you say that you are Imperia customer, then revenue loss will be there for branch. So better to take paid locker first for 1 year and then convert account to Imperia. I have followed this approach only. I have free locker now without any FD/ULIP/Investment

In SBI also, I have Diamond profile that's why locker charges are 50%

 

[FinanceBaBa]

Does bank changes the lock whenever locker is given to a new customer. I haven't heard off. Which bank doing lock changing wherever customer got changed

Every bank does it whenever a locker is surrendered and issued to new person.
Given the risk that the earlier person have made copies of key.. and possess a risk.

 

[KGSIPO]

Every bank does it whenever a locker is surrendered and issued to new person.
Given the risk that the earlier person have made copies of key.. and possess a risk.

SBI is not doing it to my knowledge

 

[FinanceBaBa]

SBI is not doing it to my knowledge

Ideally should be doing it.. Coz for few banks like PNB, HDFC, SIB, I know they do.

 

[KGSIPO]

Ideally should be doing it.. Coz for few banks like PNB, HDFC, SIB, I know they do.

Any bank employee can give in this forum can give input on this topic

 

[sjmajumder]

Ideally should be doing it.. Coz for few banks like PNB, HDFC, SIB, I know they do.

Ideally yes, but not sure if they do. And if they do it shouldn't take more than 2-3 working days. If you log a call with Godrej they generally attend it within 24 hours.

 

[percolate]

After the key replacement drama, now the BM is asking for investing at least 1lakh in ULIPs to get the locker. Now, how do I raise a complaint against the BM as he is denying the locker and asking for ULIPs verbally, how can I provide the evidence?

 

[sunit123]

After the key replacement drama, now the BM is asking for investing at least 1lakh in ULIPs to get the locker. Now, how do I raise a complaint against the BM as he is denying the locker and asking for ULIPs verbally, how can I provide the evidence?

Take ULIP and cancel during free look up period...I did same with Kotak

 

[percolate]

Take ULIP and cancel during free look up period...I did same with Kotak

that will still cause some loss.
can you please explain how much you recovered when you cancelled your ULIP?

 

[sunit123]

that will still cause some loss.
can you please explain how much you recovered when you cancelled your ULIP?

I received 100% premium back...You need to pay some 200 Rs stamp duty and in my case it was paid by BM only.

 

[percolate]

I received 100% premium back...You need to pay some 200 Rs stamp duty and in my case it was paid by BM only.

within how many days you cancelled it?

 

[sjmajumder]

within how many days you cancelled it?

The free look period for ULIPs is 15 days

 

[sunit123]

within how many days you cancelled it?

My free look up period was 30 days...i cancelled after 3 weeks...you can also cancel after free look up period but then there is penalty

 

[chiggybansal1]

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!

I also received the same reply from Hdfc Bank when i asked them for the locker, then i just made a good mail and sent to department and got a call from BM itself that you should let us know that you need a locker and i clearly said ask your RM how many times I said the same and got the locker its like a aniversary as I got locker last year on navratri.

 

[FinanceBaBa]

Any bank employee can give in this forum can give input on this topic

I'm a banker buddy..