Locker Rent hike from Rs 1,500 to Rs 10,000 in HDFC Bank

POSTED BY svj_27 ON March 8, 2015 9:34 am COMMENTS (5)

I have a small locker with HDFC bank , Pune and rent is Rs. 1500/- per annum.

Now from next year HDFC is asking Rs. 10000/- per annum as locker rent. This is more then 8 times hike in single year. so is there any guidelines from RBI, rules that how much hike every year is allowed from RS. 1500 to Rs. 10000/- is too much hike

5 replies on this article “Locker Rent hike from Rs 1,500 to Rs 10,000 in HDFC Bank”

  1. Chintu says:

    I got the same letter, so went to my nationalized bank and got a locker and closed my HDFC locker.

    1. Thanks for sharing that Chintu

  2. Meena Shivram says:

    I also have a small locker in HDFC Bank , Kaushambi (Delhi NCR) branch. My locker rent from the last year of Rs 750 has been raised to Rs 5200 this year and there is no correspondence from the bank on this. Their website says:

    Locker rates vary based on location of branch and locker sizes. Annual Rent for Lockers have been revised. Request you to visit locker branch for more details. Locker rent is charged annually and rent is payable in advance.

    Our friend and neighbour also have the same sized locker in the branch. Their locker rent from last year has been raised from Rs 1000 to Rs 4000. This contradicts what they claim in their website. This hike is arbitrary and unreasonable.

  3. svj_27 says:

    BANK REPLY IS AS FOLLOWS
    This is with reference to your e-mail dated March 02,2015 regarding your concern of hike in Locker rental, addressed to Nodal Officer.
    We wish to share the reasons for rent revision
    · Our locker rents were last revised in the year 2010.
    · Since then the rental cost of branch, infrastructure cost, security costs and other administrative costs has increased significantly
    In order to maintain and deliver our best in class standards of service delivery we are constrained to increase the locker rents.
    We solicit your understanding and co-operation in this regard.
    Should you require any further clarifications, you are requested to visit your locker branch.
    We thank you for banking with us and look forward to your continued patronage.
    Assuring you best of our services.

  4. Hemanth says:

    ask HDFC why they have increased this much…. if u r not satisfied with their response, complain to banking ombudsman……………. not sure whether RBI has any guidelines on the hike %. But this is too much.

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