A Lien amount is an amount on which the bank outs a lock. This particular amount is frozen and cannot be withdrawn unless the bank removes the lock. 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 must contact the bank to know the reason. For any query or problem, the customer can contact 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 lien is not put without giving a valid reason. The reasons 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 are required to maintain a minimum balance in their bank account. If one fails to maintain the minimum balance then the bank puts a lien on the account.
- Lock Rent dues can also be a reason for putting a lien on the SBI Bank account.
- Sometimes the it can be put without any reason this can happen due to faults in banking software. In this case, the customers can contact their banks.
How to Defreeze the Amount on The SBI Bank Account?
- Settling the liabilities with the bank is the first step towards removing the lien from the bank.
- If some legal paperwork is filed along with the lien, then discover who ordered it and repay all the credit.