Lien amount Full Guide 2021 : How to clear lien amount In SBI?

What is the lien amount? lien amount meaning? Why Bank Hold My Account? Do you have many such questions running through your mind right now? And you are currently finding a solution on how to remove a lien amount in SBI ? or other banks.

The problem of lien amount is most common in SBI banks but the methods we will explain here will work not only in one SBI bank but in most of the banks.

In this article we will look at the amount of lien and why your bank can mark a lien on your account and also the various reasons for it. And here we will also learn how to solve these problems. The method given here will be useful not only for SBI but also for any bank. like Bank of Baroda, ICICI Bank, Axis Bank.

If you have an account in SBI Bank or any other bank account or you want to open an account in SBI Bank, it is very important for you to know about this.

And if there is a mark of lien in your account, it is Crucial to check why it has come and you have to go to the bank to remove the mark of that lien. And it is very important to ask for information about why the amount of the lien was marked

  • How do you remove a lien amount?
  • Why do banks put lien amounts?
  • Can I withdraw my lien amount?
  • Do we get interested in the lien amount?
  • What is a lien example?
  • What happens when a lien is put on your bank account?
  • How can I remove a lien from SBI?

So before finding a solution to any problem, it is important to know what the problem is And how did that problem come about?

What is lien amount? | What is bank lien amount? | lien amount meaning?

A lien amount meaning that your total amount or the amount determined by the bank is marked as a hold, you cannot be withdrawn from that account until the lien is removed by the bank.

This means that even though you have money in your account, it will show you zero amount. Lien amount means you have to pay this amount to this bank

Why do banks put lien amount?

  • Right to lien
  • Right to particular lien
  • Right to a general lien

When a person takes a loan from any bank by securing their FD (Fixed Deposit) The bank will make a lien on their fixed deposit and it will mature for payment at the time of deposit.

Or if the person wants to close it before maturity, The amount will be adjusted towards clarifying the liability in the loan account attached to their deposit and the remaining amount will be refunded to that person and this is known as a special lien.

A general lien means that if the depositor in the bank has an obligation to pay a small amount to the person, the banker has the right to make a lien on all deposits in the name of the depositors up to a certain limit.

  • Dues On Loans
  • Locker rent due
  • ATM Related transections
  • KYC pending

There are many reasons why your account is held by a bank. We will discuss all these problems in detail later and also tell the solution.

What is a lien example?

For example, if a person buys a home or buys another property, So the seller will be paid using the funds borrowed from the bank. in exchange, They will have a lien on the bank house or other property.
Except the person taking the loan from the bank pays all the payments to the bank.

Lien amount

4 Reasons why the bank is putting a lien

Dues On Loans

You have taken a loan from a bank and your loan account is joint with your savings account. It often happens that the borrower is not able to pay the loan installments, then the bank can hold your account on hold.

So the bank will hold your account completely or freeze a small amount in your account so that you cannot withdraw that amount from the bank and if you put more money in your bank account all your amount will be deducted till it is paid.

Locker Rent Due

It often happens that you have to deduct the locker rent from your account every year, at that time if you do not have the same amount as the locker rent then the bank marks the amount equal to the locker rent in your account as a lien.

ATM Related Transections

Often due to technical errors of the bank also show lien in your account. For example, a person named A puts money in the account of a person named B but due to some technical error of the bank that money gets into your account.

And when you go to an ATM to withdraw the money you have no idea what this extra amount is but you withdraw it with all that amount.

When the bank realizes that an extra amount has been credited to your account due to their error
, Then the bank can show that extra amount in your account as a lien.

KYC Pending
Even if your bank often has document verification OR KYC pending, it may show a sign of lien in your account, you have to visit that bank and take it along with important documents like Aadhar card, PAN card, etc.

How do you remove a lien amount?

If you owe a bank loan or any other type of money, The amount of the lien marked by you paying that money can be removed, Once you clear the bank debt, the lien will be removed in a week, then you will be able to easily access your bank account.

Can I withdraw my lien amount?

No. Until you settle the outstanding debt to the bank, You may not withdraw or use the lien amount until the lien has been withdrawn. And even if you declare a check on that account, the issued check will bounce.

Do we get interested in the lien amount?

Yes, as long as your account is in that bank and the amount of that bank is marked as a lien, you will continue to get intereste. But you can still get information by visiting the bank where you have an account.

What happens when a lien is put on your bank account?

When a lien is placed on your bank account, the amount you have to pay to the bank has stabilized or the whole account amount has stabilized, then you cannot withdraw money from the account or if you try to transfer money to another account by check That check will bounce.

How can I do remove a hold from my bank account? |How can I remove a lien from SBI?

Contact the bank, And If your account has been holding by a bank for any reason, you must visit the bank.
Only by going there will you know what the actual problem is and you will also get the solution through the bank. More Information About lien in Sbi FAQ.

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