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!

 

[manishgolcha]

I had a locker with Yes Bank on paid basis and I was following up HDFC for locker as I have Imperia banking. I used to call my RM, had a contact in my home branch and I used to visit very often at my wife's branch. I used to follow-up from all 3. On one fine day cashier confirmed that they have locker available. I immediately signed up for the same and closed my Yes Bank account and locker.
FYI: this was without any security / investment.

 

[vinit04]

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.

I am facing same issue. Could you post your email sample, plz.

 

[vinit04]

The best and easiest way to get a locker is to keep an eye on any new bank coming up in your locality. New banks have ample amount of new lockers and are generally unable to say no.

I eyed up on new hdfc branch. Visited branch for locker. They are asking me to invest in ulip with min 2L amount or 30L portfolio in FD. Ridiculous demands

 

[percolate]

I eyed up on new hdfc branch. Visited branch for locker. They are asking me to invest in ulip with min 2L amount or 30L portfolio in FD. Ridiculous demands

Send an email to the BM requesting for the locker.
Tell the BM that you are going to make a complaint on him because they should not ask for ULIPs in exchange of locker as per RBI guidelines. Most likely the BM will agree to give the locker after threatening and will save some time. If he didn't agree, make a complaint with customer care or imperia banking. He will have no other option than to give the locker.

 

[vinit04]

Send an email to the BM requesting for the locker.
Tell the BM that you are going to make a complaint on him because they should not ask for ULIPs in exchange of locker as per RBI guidelines. Most likely the BM will agree to give the locker after threatening and will save some time. If he didn't agree, make a complaint with customer care or imperia banking. He will have no other option than to give the locker.

I have hdfc preffered banking program. I complaint to preffered email id. They asked me branch details. After that they forwarded my request to the same branch again. This time, they sent different executive to my house for discussion. Executive gave me other option for investment and now investment amount is reduced to 1.5 L in guaranteed plan or 10 L in FD. They are not willing to reply on email though. Any suggestions ?

 

[vinit04]

I am facing same issue. Could you post your email sample, plz.

In a same boat. Please post your email sample.

 

[railsfanatics]

I have hdfc preffered banking program. I complaint to preffered email id. They asked me branch details. After that they forwarded my request to the same branch again. This time, they sent different executive to my house for discussion. Executive gave me other option for investment and now investment amount is reduced to 1.5 L in guaranteed plan or 10 L in FD. They are not willing to reply on email though. Any suggestions ?

I would respond on the original complaint thread with the bank and provide details of the offer verbally given by the executive along with his name and ask if this is mandatory. They offered a locker on some conditions which means there are locker available at the branch.

I have a good TRV with them since 2007 and an imperia customer. They put the same condition to me and I complained and they finally gave me locker unconditionally. I am guessing it was to close the complaint.

 

[percolate]

I have hdfc preffered banking program. I complaint to preffered email id. They asked me branch details. After that they forwarded my request to the same branch again. This time, they sent different executive to my house for discussion. Executive gave me other option for investment and now investment amount is reduced to 1.5 L in guaranteed plan or 10 L in FD. They are not willing to reply on email though. Any suggestions ?

Like @amitkssolanki said, reply to the original complain thread with the insurance offer and tell them that's its illegal to force customers to purchase ULIPs. If they don't care, escalate it to the next level.

 

[Trump]

I have hdfc preffered banking program. I complaint to preffered email id. They asked me branch details. After that they forwarded my request to the same branch again. This time, they sent different executive to my house for discussion. Executive gave me other option for investment and now investment amount is reduced to 1.5 L in guaranteed plan or 10 L in FD. They are not willing to reply on email though. Any suggestions ?

Reply in the same e-mail about the conversation that took place and escalate it to the pno desk. Max they can ask you is 3-5 years worth of Rent as FD that'd be lien on your locker. They have the locker. They just don't want to give it to you.

 

[Lordsom]

I needed a free locker (as per Imperia terms) at Kolkata. This is early early 2021 post Covid Delta.
Opened a joint locker with Wife.
We had to move her salary account from Kotak (which was shit anyways) to HDFC. That's it. No ulip or lien fd or any other tantrums).

 

[Trump]

Today I wrote to my Cluster & Circle Head regarding Locker allotment, as a gesture of goodwill, if they are willing to allot me a large locker/medium locker. Will keep you guys updated.

I have no hopes though seriously.

 

[BCh]

My experience so far:
SBI: It's a very busy branch where I maintain salary account. They asked for ULIP which I would not do.
IndusInd: They asked for FD of 5L, seemed the amount could be negotiable.
HDFC: My RM agreed immediately over phone and it was delivered 2 weeks later. Afterwards, he explained ULIP benefits on a plain paper, I listened to that and rejected. For some background, I maintain preferred relationship (so Locker is discounted). RM is helpful regarding all banking products except CC. He couldn't help upgrading my Millennia CC.