Do we get Bank Locker rent paid for unused months when we close it ?

POSTED BY kamath.va ON March 12, 2014 2:02 pm COMMENTS (5)

Dear Sir/ Madam,

I  had a bank locker with ICICI branch in Andheri west for about four years with a security deposit and annual rent agreement. Advance rent was deducted from my savings account for year 2013-14 in July 2013. Mean while I shifted to Navi Mumbai and it was difficult for me to make use of locker hence I surrendered same in January 2014. I sought refund of advance rent paid for unused months which was denied me in branch level and I lodged a complaint on their website and followed till 3 level and all the replies were same, that they will not refund the rent for unused period.

I would like to know it is correct that I will not get refund for unused period or I should lodge a complaint to Banking Ombudsman?

Pl. advise.

V A Kamath

5 replies on this article “Do we get Bank Locker rent paid for unused months when we close it ?”

  1. kamath.va says:
    November 17, 2014 at 12:43 pm

    Dear All,

    I managed to get refund of rent from ICICI bank for unused part of the rent period.
    I wrote to Banking ombudsman giving all e mail exchanges with bank , till country head level and asked one question’ ” Is bank operating in ethical manners, when bank is collecting rent from two customers for same period of time for same locker? ” This hit the nail. All banks have to carry out their business in ethical manner. hence I won and got refund ( no refund of service tax paid ).
    This will help others to get their money. -V A Kamath

    Reply
    1. Manish Chauhan says:
      November 17, 2014 at 9:52 pm

      Thanks for sharing what you have done .. it inspires me to pursue the matter incase any issues crop up later !

      Reply
  2. ashalanshu says:
    March 13, 2014 at 10:48 am

    Dear V A kamath, the locker rent charges are yly basis, hence you are not liable to get the refund for unused period. Still if you want to get the clear answer or more clarity on the subject, please file a complaint with banking ombudsman.

    Thanks

    Ashal

    Reply
  3. Hemanth Chandra says:
    March 12, 2014 at 3:24 pm

    Hi Kamath,

    First, please confirm from the bank whether the charges for the locker are levied per month or per year ??

    If the charges are per month, then you can ask for a refund for unused months as they have already charged you for an year in advance.

    If the charges are per year, then there is no point of asking for refund.

    Regards,
    Hemanth.

    Reply
  4. Hemanth Chandra says:
    March 12, 2014 at 3:12 pm

    Hi Kamath,

    First, please confirm from the bank whether the charges for the locker are levied per month or per year ??

    If the charges are per month, then you can ask for a refund for unused months as they have already charged you for an year in advance.

    If the charges are per year, then there is no point of asking a refund.

    Regards,
    Hemanth.

    Reply

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