What is the lien amount? Hello friends, today I am going to tell you what is “Lien amount” and how to remove it. First of all know about the loan amount. Friends, it happens that there is balance in your account but you are not able to withdraw it. When you do your balance, you’ll see something like the lien amount. What is the amount that you can even wear? The amount shown in your balance is shown in the amount taken, the more money you keep in your account by the bank.
For example, suppose you have Rs.10,000 in your account and if you see a balance of Rs.5,000, you will only withdraw Rs.5,000 from your account. The remaining Rs 5,000 will be kept in your account.
Why does the bank keep the lien amount?
Friends, as we told that if you have taken a loan from the bank and you are not paying its EMI on time, then the bank keeps a lien amount equal to our EMI in your deduction. What happens with this is that whenever money comes into your account in future, it will go into the lien amount and you will not be able to use it, your money will be held in your account only and after a few days the bank will deduct your EMI from this money. Will complete
Example:- If EMI of ₹5000 is deducted from your account on 10th of every month, but if you have ₹4000 balance in your account on 10th, then your EMI will not be deducted, now bank will put lien balance of ₹5000 in the account. Now if you assume that you deposit ₹ 5000 in future in your account then your balance will become ₹ 9000 but if you withdraw 9000 then your money will not come out. Because the lien balance is showing in your account, that’s why you will be able to withdraw only ₹ 4000, the remaining ₹ 5000 will remain in bank hold. And after a few days, when the bank tries to deduct your EMI money, then that money will be deducted by ₹ 5000.]
How to check lien amount?
If you want to check the amount for yourself, then you can follow any one of the steps given below:
Login to Internet Banking and check your balance by going to the My Account section. If there is a balance in your account, then it will be visible to you.
You can also check the balance for yourself by visiting the branch or by getting the statement updated in your passbook.
What Is The Lien Amount In Axis Bank?
If your account is in Axis Bank and your account is running for any kind of loan, or any kind of monthly payment is done from your account to your account and for some reason if the balance in your account is less If you have, or your money is not to be deducted then Axis Bank will put lien amount in your account.
For example, if an amount of Rs.3000 is debited every month in your account, and in a month if you do not have a balance of Rs.3000 at the time of account, then the money will not be deducted and you will see a lien balance of Rs.3000 in your account. Will go
You can’t even take out three thousand of us.
How to check lien amount in Axis Bank
• If you have your Axis Bank account and you have to login through Mobile Banking or Internet Banking with the help of your User ID and Password.
• After that you have to check your balance by going to your account dashboard.
• Here you will see the complete balance of your Axis Bank account.
• Lien Balance, Clear Balance, Total Balance all displayed on your vehicle.
How to withdraw lien amount in Axis Bank
If you want to remove lien amount in Axis Bank, first of all you need to login to your internet banking and see how much lien amount is there in your account. Therefore, you will have to maintain a balance in your account higher than the lien balance. After some time, what was not deducted will be deducted. After that your lien amount will be automatically removed.
Why does the bank keep Lien Amount?
The bank lien amount in your account is kept tab, because if money is deposited in your account, you will have to withdraw it again. But if the amount in your account is debited, then you will not be able to withdraw that much money and the bank will deduct your money on time.
Friends, today you must have come to know what is Lien Amount, how many types of Lien Amount are there. Why do banks keep lien money? What will you do if the bank puts lien amount on your account?
Answers to frequently asked questions about lien amounts:
What is the lien amount?
Lien funds are a type of bank reserve that is held in your account. It is kept for those bank transactions which you are unable to pay.
How is the lien amount charged?
Lien amount is applied to your account when you are unable to recover your bank loan or when a check bounces in your account.
What is the amount of lien amount?
The amount of lien amount varies as per the rules of the bank. It depends on your account balance.
How is the lien amount removed?
To remove the lien amount, you will have to go to the bank to get a loan or a bounced cheque. When these payments are made, you can withdraw the lien amount from your account.
What is the time limit for the lien amount?
The time limit for lien amount varies according to the rules of the bank. This is your bank account type