What is SBI Lien Amount | How To Remove Lien Amount In Sbi Online | How to Clear Lien Amount | How To Check Lien Amount In SBI
Sometimes a lock is marked on your bank account by the concerned authorities of the bank because you forgot to pay the EMI or you are long overdue. It is mandatory to get rid of that log because it will result in getting your account frozen making you worry about each and every transaction which you will not be able to make a lesson until you get rid of that lock. Given below we are sharing some of the most important specifications related to the SBI Lien Amount. We will also share with you all the specifications of the Meaning & How to Clear Lien Amount.
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SBI Lien Amount Meaning
Banks have certain rules and regulations that the customers must follow and if you do not follow those rules and regulations then you will have to go through the consequences. Lien means to lock and these types of locks will be imposed upon your account if you are not abiding by the rules and regulations imposed by the particular Bank. SBI Lien Amount will be the amount that will be locked by the State Bank of India and you will not be able to withdraw your lien amount without having to get rid of it by going to the official website or the official branch of the State Bank of India. The amount will be locked by the bank authority for a limited period of time and the bank will freeze your amount in your account so as a result, you will not be able to do any transactions.
Reasons For SBI Lien Amount
There are various reasons through which the bank may put your account in a lock. Given below, we are specifying each and every reason that must be the reason for putting your account into a lock by the State Bank of India:-
- Failure in the repayment of loan EMI
- Failure in complying with the account minimum balance requirements
- Due to some error in bank software (automatic resolution in such a case)
- Deposition of fixed deposit/term deposits as security for the loan
- When the bank realizes the amount used for some unlawful or illegal activities
- Failure in tax payment
- Issues related to bank draft or cheque
How to Clear the Lien Amount?
It is really important to clear your lien amount presented by the State Bank of India and you can do so by settling the liabilities that the bank has imposed upon you. Once the lien amount is released by the State Bank of India, you will be able to use the additional funds in your bank account. If you are not able to settle your liabilities then the amount in your bank account will be used to settle that liability. Given below, we are specifying the step by step procedure through which you will be able to resolve this issue:-
- You will first have to visit your home branch and ask them for the details related to your lien amount.
- You can also call the customer service representative of the State Bank of India in order to get most of the information related to your account.
- Sometimes, the bank may also place the lien on behalf of the third party to whom you have to give money. In such cases, the bank will place the lock for a few days and you will have to go to court and resolve the issue.
- If you do not take any action or the court is against you then your locked amount will be provided to your third party.
- In case of a lien placed on FDs against loans, the lien will remain until the loan is repaid.
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No. You cannot withdraw the lien amount until you settle the dues. Until the lien is lifted, you cannot withdraw or use the lien amount, and cheques issued on that account may bounce.
You will have to visit your home branch in order to get most of the information related to your locked amount.
Lien can be termed as a lock that is formed by the concerned bank authorities on your bank account so that you do not withdraw and use that money for transaction purposes.
You need to call the customer service representative of the State Bank of India in order to get most of the information related to the Iien marked by the SBI on your account.
The customer service number presented by the State Bank of India is available 24 into 7 and you can call at any given time to get a solution to your problems.