What is Lien Amount in State Bank Of India (SBI) Account? Steps to Remove & Meaning in Hindi

SBI Lien Amount Lien Ammount Meaning in Hindi, How to Remove SBI Lien Amount All Details Covered: Various banking terms are used in the banking sector. Users who often use net banking must be aware of some general terms used in the State Bank of India. In this post, we will discuss the term named ‘Lien Amount’ used in the State Bank of India.

The State Bank of India also known as SBI is a statutory agency that provides public sector banking and financial services. The headquarters of the SBI is located in Mumbai. Since the bank has been providing its services for more than 200 years, Indians have consistently placed the greatest amount of faith in it throughout the years.

Usually, ‘Lien Amount‘ in SBI is used to block the transaction of the account. In simple words, Lien Amount stands for Lock Amount. Users can’t withdraw money from the locked amount until the State Bank of India removes the Lien or Lock from that particular bank account.

Reasons for SBI Lien Amount – Why does SBI Do So?

  • As per the guidelines of the State Bank of India, A consumer must have the minimum required balance in the bank account. For customers who fail to maintain the required balance, the bank will charge a penalty. But, if the account doesn’t have a sufficient balance, the bank will put that account on Lock.
  • If a customer deposited the Fixed Deposit as the security against a loan, the consumer can not withdraw the Fixed Deposit amount in any case as the bank consider it as the lien amount.
  • In any situation, if a consumer failed to pay the Loan EMI the State Bank of India will put a lock on that account.
  • The State Bank of India can also place a lien amount on a cheque/draft if something is found wrong.
  • SBI can also put Lien Amount if one fails to pay the taxes on time.
  • Sometimes, due to technical issues, Lock Amount is shown for a normal account in that case visit the SBI Branch.

Lien-Amount-SBI-Meaning

If Lien Amount is applicable on a particular account all the banking services will not be provided until the consumer settles the amount.

You can’t pay via cheque or net baking if Lien Amount is placed on your account. You can contact the branch officers and short out the issue. If you pay the charges/penalty only then the State Bank of India will reactivate your banking services.

Lien Ammount Meaning in Hindi

आमतौर पर एसबीआई में ‘लियन अमाउंट’ का इस्तेमाल अकाउंट के ट्रांजैक्शन को ब्लॉक करने के लिए किया जाता है। सरल शब्दों में, लियन अमाउंट का मतलब लॉक अमाउंट है। उपयोगकर्ता लॉक की गई राशि से तब तक पैसे नहीं निकाल सकते जब तक कि भारतीय स्टेट बैंक उस विशेष बैंक खाते से ग्रहणाधिकार या लॉक नहीं हटा देता।

How to Remove Lien Ammount in SBI?

You are required to make a withdrawal request to the IPO’s registrar in the event that your account is encumbered because of a debt owed to ASBA and you want the lien to be lifted immediately. If you are able to wait, the lien will be removed from your account in the event that you are not allocated any shares in the IPO.

Your bid will be cancelled as a direct consequence of this, and the SCSB (Self-certifies Syndicate Bank) will be instructed to release your funds. If the lien was caused by a virtual card, you can remove the card from your account and the lien will be removed immediately afterwards. Within the next 48 hours, the card will become invalid and the lien will be removed immediately.

Steps to Unlock Lien Ammount in SBI

Consumers can go to the branch of the bank and ask them to solve the issue and query about the problem if the bank puts a mark on your account for the bank’s lien amount due to a system error or a minor mistake. The mark could have been put there by the bank.

The bank will be more than happy to assist you as soon as possible and once they have done so, they will remove the issues as well as the amount mark that was placed on your account due to the lien.

Any consumer or account holder at SBI or any other bank should not mark the account as a lien amount because doing so will cause disruptions to the transaction process from that particular account.

And let’s say you don’t pay the additional amount of the penalty that was added to that total. If this happens, the money will be taken out of one of your other accounts held at the same bank, but only if you have more than one.

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