What is The Lien Amount in SBI?

A Lien amount is an amount on which the bank puts a lock. The amount freezes and the account-holder cannot use it unless the bank lifts the lien. SBI also has a provision to freeze a particular amount of their customer’s bank account. In this case, all the account holders must know the terms and conditions and contact the bank through SBI Customer Care.


Why SBI Puts Lien Mark in The Bank Account? 

SBI or any other bank has all the rights to freeze a particular amount for a particular time period. The reasons behind putting a lien can be :

  • If one fails to pay the credit card dues, then the bank can freeze a particular amount.
  • Failure in payment of installment and interest of the loan.
  • SBI customers have to maintain a minimum balance in their bank account. If one fails to maintain the minimum balance then the bank freezes a particular amount on the account.
  • Lock Rent dues can also be one of the reasons.
  • Sometimes it can be put without any reason and can also happen because of faults in banking software. In this case, the customers can contact their banks. 

How to Defreeze the Amount on The SBI Bank Account? 

  • The customer must visit the bank branch and talk to the banker regarding the problem. The bank will be able to tell the problem and the possible solutions to rectify the problem.
  • Pending liabilities is one of the most common reasons behind putting a lien on the bank account. Therefore, settling the liabilities is the way towards defreezing the amount.
  • If someone has filed a complaint against the bank account holder for non-payment of dues then contact the bank and know who has ordered it and repay all the dues. It can be because of non-payment of loan EMI, non-payment of taxes, or problems with cheque or draft.
  • After settling all the dues the bank will lift the lien and the account-holder can use the amount for transactions.
  • If the customer fails to do so, then the bank may withdraw money from another account in the same branch and repay all the liabilities.
Can one withdraw the lien amount?

The lien amount cannot be withdrawn until the account holder has settled all the dues. If the customer issues a cheque on that account that will also get bounced.

How to resolve lien amount?

The bank puts lien on a specified amount on the non-compliance of bank’s rules and regulation for account-holders. to resolve the lien issue the customer first must know the reason behind the action and then solve it by settling the liabilities with the bank.

How to put lien on account for trading?

If the account-holder wants to reserve an amount of money for trading every month then they can put a lien on their trading account. Login to trading account>Click on Home tabs> Select limits > Limits Manage>Select the account from the options>Enter the amount on which lien has to be put>It will be redirected to linked bank website>Enter the ID and password>Click on Submit> Confirm options after verifying the details. The funds will be put under lien.

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