Have you ever hear the term “Lien Amount” then you might be wondering what it means and how to get rid of it. In this article, we will look at all the details about how to remove lien amount in SBI accounts, including the different types of liens, the process to remove them and frequently asked questions about lien amount. so let’s get started!
What is the Lien Amount?
Lien amount is a fixed amount of money that the bank keeps as security against a particular account. It restricts the account holder from accessing or withdrawing a specified amount of money. If the account holder fails to fulfill his financial obligations, the bank places a lien on the account to protect its interests.
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Lien Amount Meaning in Hindi
लीन राशि को हिंदी में ग्रहाधिकार राशि कहा जाता है। ग्रहणाधिकार राशि बैंक द्वारा आपके बैंक खाते की राशि पर लगाया गया एक टैग है। इसका मतलब है कि आपके बैंक खाते में रखा पैसा लॉक हो गया है. लीन अमाउंट को होल्ड अमाउंट या लीन बैलेंस भी कहा जाता है.
जब किसी वस्तु का ईएमआई भुगतान आपके बैंक खाते से हर महीने काटा जा रहा हो, लेकिन किसी महीने वह राशि आपके खाते से नहीं कटती हो, तो बैंक आपके खाते में ग्रहणाधिकार राशि वसूलता है।
अगर लोन की रकम तय होने के बाद आपके खाते में कोई पैसा जमा होता है, तो बैंक कटौती की गई रकम को ईएमआई के बराबर रख लेता है। जिसके कारण आप अपने बैंक खाते से उन पैसों का लेन-देन नहीं कर सकते।
ग्रहणाधिकार राशि को हम एक प्रकार का ताला कह सकते हैं, जो बैंक द्वारा हमारे खाते पर लगाया जाता है। सरल शब्दों में हम कह सकते हैं कि लीन अमाउंट वह राशि है जो बैंक द्वारा स्वीकार की जाती है।
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Why does SBI put Lien on Accounts?
SBI places liens on accounts for various reasons, including non-payment of dues, fixed deposit protection, technical issues, IPO applications and virtual cards. Let’s explore each of these causes further.
- Lien due to non-payment of amount due
- Lien on account of fixed deposit security
- Lien due to technical reasons
- Lien Due to IPO Application
- Lien Due to Virtual Card
- Uncertain about lien cause
How to check whether SBI Account has Lien or not?
To check whether you have a lien in your SBI account or not, you can follow these simple steps:
- Login to your SBI net banking account.
- Go to “Accounts” section.
- Select the relevant account for which you wish to check lien status.
- Look for any notifications or alerts indicating the presence of a lien on the account.
What are the Different Types of Liens on SBI Account?
As mentioned earlier, SBI offers various types of liens. These include:
- Lien due to non-payment of amount due.
- Lien due to fixed deposit security.
- Lien due to technical reasons.
- Lien due to IPO application.
- Lien due to Virtual Card.
It is important to understand the specific reason behind the lien on your account to follow the proper procedure to remove it.
How to Remove Lien Amount in SBI Account
Now that you know the different types of liens, let us discuss how you can remove lien amount in SBI account depending on the specific reason.
Lien due to non-payment of Amount due
If you have a lien due to nonpayment of dues, it is necessary to pay the dues to remove the lien. You can do this through net banking, mobile banking or by visiting the nearest SBI branch and making the necessary payments.
Lien on account of Fixed Deposit Security
To clear the lien due to the fixed deposit security, you will have to repay the loan against the fixed deposit. Once the dues are settled, the lien will be removed from your account.
Lien for Technical Reasons
If you suspect that the lien has been wrongly placed due to technical reasons, it is advised to immediately contact SBI customer support. They will investigate the matter and take necessary steps to remove the lien if it is wrongly imposed.
Lien Due to IPO Application
For liens due on the IPO application, you will have to wait until the allotment process is completed. Once the shares are allotted, the lien on the concerned amount will be released automatically.
Lien Due to Virtual Card
To clear the lien due to a Virtual Card transaction, you may need to wait until the transaction is completed or canceled. The lien will be removed automatically when the status of the transaction is updated.
Uncertain about Lien Cause
If you are unsure about the reason behind the lien on your account, it is important to contact the customer support of SBI. They will help you identify the cause and guide you through the necessary steps to get the lien removed.
How to Remove Lien Using Net Banking?
To remove lien amount in SBI by net banking facility, follow these steps:
- Log in to your SBI Net Banking account.
- Go to the “Account” section.
- Select the lien account.
- Look for an option like “Release Lien” or “Remove Lien.”
- Provide the required details and submit the request.
- Wait for the bank to process the request and remove the lien.
Remember to provide accurate information to ensure a smooth lien removal process.
Documents Required to Remove Lien
The documents required to remove lien amount in SBI may vary depending on the reason behind the lien. For example:
- Liens due to non-payment of amounts due may require proof of payment.
- Lien due to fixed deposit security may require loan repayment documents.
- Technical reasons for a lien may require a written complaint or explanation.
It is advised to contact customer support of SBI or visit the nearest branch to inquire about specific documents required for removal of lien.
How much time does SBI take to remove lien?
The time taken to remove lien amount in SBI depends on the complexity of the case and reason behind the lien. Typically, it can take anywhere from a few hours to a few days to remove the lien. If the lien is not paid within the appropriate time frame, it is advisable to contact the customer support of the bank.
Can I withdraw lien amount from ATM?
No, you cannot withdraw lien amount from an ATM. The purpose of a lien is to restrict access to a specified amount until the lien is removed. Once the lien is cleared, you will be able to access and use the funds according to your needs.
Who to contact for lien related issues?
If you have any queries or issues regarding lien amount in your SBI account, you can contact SBI customer care. They will provide you with the necessary guidance and address your concerns.
FAQs Regarding remove Lien Amount in SBI
What is the meaning of Lien amount in SBI?
Lien amount in SBI refers to the amount of money held by the bank as security against a particular account, restricting the account holder’s access to the specified amount.
How can I remove lien online from my SBI account?
You can remove lien from your SBI account online by logging into your net banking account, visiting the respective account and selecting the option to remove lien. Follow the on-screen directions to complete the process.
I have a lien because of credit card default; How do I remove it?
To remove a lien due to a credit card default, you must pay the outstanding balance on your credit card. Make the required payments through net banking, mobile banking or by visiting the nearest SBI branch.
There is a lien on my account because of the IPO application. What should I do?
If your account has a lien due to an IPO application, you don’t need to do anything special. The lien will be released automatically once the shares are allotted.
Conclusion
It is important for account holders to understand the lien amounts in SBI accounts to effectively manage their finances. Be it lien due to non-payment of dues, fixed deposit protection, technical reasons, IPO applications or virtual cards, there are specific procedures to remove the lien. By following the required steps and contacting SBI customer support for guidance, you can successfully remove the lien and regain access to your funds for uninterrupted banking.