How to Release Lien Amount in SBI?

Hi there. I found out that SBI has imposed a lien on one of my bank accounts. I had an immediate requirement to withdraw funds and thus thought of learning how to remove lien amount in SBI YONO app. I was able to get the issue sorted out through an easy method. So, here is the process for you to learn.

How to remove lien amount in SBI online

Before understanding the lien removal process, let me share the reasons for which SBI puts a lien on your bank account.

1. Missed loan EMIs

2. Cheque/draft issues

3. Non-payment of taxes

4. Loan security fixed deposits

5. Credit card dues

6. Non-payment of minimum account balance penalty charges

7. Technical glitches

8. Suspected fraudulent transactions

The methods to remove the lien are as follows:

1. In case you have an issue with outstanding payments related to EMIs, credit cards, etc., I would advise you to quickly pay the bill.

2. If the reason for the lien is due to technical errors, visit the bank branch and request the officials to check for the mistake and rectify it.

3. If a lien has been marked because of a virtual card, it is advisable to cancel the virtual card. You can do so through the SBI net banking facility. The card will be deactivated within the next 2 days.

Unfortunately, there is not any verified method to clear the lien through the YONO app as of now.

For other online methods related to the removal of the lien, you can go through Preety B’s answer. I hope my answer helps you to learn how to clear lien amount in SBI online.

You must understand what the lien mark on your State Bank of India or other bank account indicates if you notice a mark of lien amount. Such significant and typical terminology used by banks should be understood by everyone. If you're unsure of what a lien in banking entails, I will assist you to comprehend this lien amount and how to release lien amount in SBI.

How to unlock lien amount in SBI?

Lien is a particular kind of lock, or you could say that the term "Lien" refers to a lock that the bank has placed on your account. You must understand what the lien amount signifies if you discuss it. A  Lien amount is a specific cap set and locked by financial institutions for a constrained time. Whenever the bank froze the funds in your account, you won't be able to make any transactions with them, like withdrawing them or using them elsewhere, until the bank releases the lock on your account. The whole balance of the account can be locked and turned into a lien amount at the bank's discretion.

How to clear lien amount in SBI?

I'll attempt to demonstrate how to remove the lien amounts in SBI even if there are many methods depending on why the lien marking was put to your account. It is crucial to comprehend the cause of the SBI lien amount because doing so will enable us to prepare the subsequent procedures for removing it.

• You must send a cancellation request to the IPO registrar if your account is saddled by ASBA and you need the lien removed right away. If you are patient and do not obtain an IPO allotment, the lien would be released. They will then withdraw your bid and provide the SCSB with the order to release your monies.

• If a virtual card caused the lien, you can erase the cards and the lien would be immediately released. In 48 hours, the card will expire, and the lien would be instantly released.

• If there is a lien on the fixed deposit for your credit card, you can either work out a better deal with the bank or cancel the card.

• In all other instances, you must pay back any debts with interest if the lien was brought about by your failure to pay taxes, fees, existing debts, etc.

• Once you've made the required progress, the lien will be released from your bank account.

• If you're unclear, get in touch with your bank. The bank will clarify why it put a lien on your account and, if applicable, how you can take care of it.

How to release lien amount in SBI: Lien Due to IPO SBI?

You are unable to do anything with your account or the money in it if they have been designated as a lien account or a lien amount. That bank will not normalise your account once more unless you pay off all of your outstanding debts. You won't be able to conduct any transactions, such as withdrawing money or writing checks, until that time; if you do, they will be returned.

This is all you need to know about how to release lien amount in SBI.