Lien is marked to clear off the pending payments to the bank like Credit card bills not cleared and you have enough balance in your SB or FD account then lien is marked for the bill amount. When a loan is availed on your FD then lien is marked on entire amount as security.
3/31/2021 · What Is Lien Amount ? Lien is the type of charge that gives a bank automatic claim over a borrower’s property or assets that come in bank’s possession in the normal course of its business. Bank has a general lien on all the securities of the customer in respect of general balance due from him.
In the case of automobiles, the lien amount is the amount you still owe the organization that financed the purchase, whether bank, finance company , or credit union. If you have work done, on your house, for an agreed upon amount, and you do not pay it, the contractor can place a lien on your property, so that you can not get other loans, on the property.
12/9/2019 · I have savings account in icici and the bank deducted amount as lien from my salary and after repayment. They did not even respond and taking long time to remove lien and release the lien to my account. So i had to pay twice. Once by paying manually and as part of lien they deduct from my account. This is least expected from such reputed organisation.
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