Why lien amount

People can also look up lien information on homes, cars, and other assets. A common source is a mortgage or car loan, where the lender uses the asset as collateral for the debt. In addition, other people can place liens on assets if a person is not repaying a debt. For example, tax authorities may place a lien on a home until someone pays back taxes , and contractors can place one on a house for nonpayment. As long as a lien is in place on an asset, the asset cannot be transferred without authorization and the title is not clear, making it difficult to sell.

Someone with an outstanding lien on property may be able to make an arrangement to sell it and pay the amount owed with the proceeds of the sale, thereby clearing the title so it can be transferred.

The bank will lift the lien once the settlements have completed regarding liabilities. You can also enjoy this additional fund for any purpose. In case of failure in liabilities settlement, you should go to the nearby SBI branch and ask for lien lifting. Frozen account balance may stop you from doing necessary activities.

Therefore, in order to avoid troubles, you should always make sure to keep adequate amounts enough for lien prevention. Once you pay all the dues at the SBI branch, the bank will remove the lien mark from your amount or account. Most likely, to get rid of this issue, you need to visit the branch and ask about the whole procedure. That will be a good idea to do it with ease.

They will help you for sure, but always remember that you cannot remove the lien amount mark from your amount without settling the due payments of your account. The bank will be happy to help you as soon as possible, and the bank will remove the issues and remove the lien amount mark from your account.

It is not suitable for any customer or bank account holder at SBI or any other bank to mark their account as a lien amount because it will disrupt the transaction from that particular account. And suppose you fail to pay the penalty amount from that particular amount.

In that case, it will be automatically deducted from another of your account from the same bank if you have another. If you have trouble receiving your OTP, please click on the link provided at the bottom of the webpage and if you still face problem, please call helpline number to check whether your mobile is registered with Net Banking or not. You can make maximum three attempts to enter the OTP. Your Card will be blocked on the 4th attempt, for security reasons, and you will not be allowed to do any transaction using this Card.

If wrong OTP is entered for consecutive 3 times, Bank will block your Virtual Card and you will not be allowed to reuse or unblock the card, as a security measure. However, you can cancel the Card to release the lien marked amount and if the Card is not cancelled it will expire automatically in maximum 48 hrs from the time of creation, and the lien on the blocked amount will be released.

The amount will be shown as " lien marked " on the account. You can choose to cancel the Card to remove the lien and release the fund. However, on expiry of the Card i. Yes, Since the Card is generated by marking a lien and the amount is debited only when actual transaction is completed successfully, you continue to enjoy the interest, as applicable on your account, on the Virtual Card balance. The amount will be debited from the account only when actual purchase using the Virtual Card is completed successfully.

Yes, you can create any number of Cards subject to sufficient balance in the underlying account and with a maximum limit of Rs. Please Note: The expiry date mentioned on Card image may vary from actual expiry date of the Virtual Card.

It does not reflect the actual expiry date of the card, which is Max. Yes,you can use your Virtual Card for partial amount, provided the amount is below the Card value. The remaining unutilised value is automatically released back to your account after the card is used. The lien marked on the underlying account will be released automatically after expiry of the Card. If not cancelled, the Card will expire in 48 hrs after creation and the lien will be automatically released. Immediately on cancellation, the lien will be released.

However, it may take few minutes in some cases. You will be able to view all the Cards and transaction history of each Card created during past 3 months with limit of max. For older card details, you may contact State Bank helpline at Toll free or email your request to sbisupport cardbranch. The facility is available to all Internet Banking customers free of cost.

As the card usage is protected through OTP One Time Password , which is only sent to the customer's registered mobile phone, the chances of fraudulent transaction are very low. However, the customer must take adequate precaution to ensure that the Card details are not disclosed to any person who may misuse it.