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Can bank mark a lien without notice?


03-Oct-2023 (In Banking / Finance Law)
Hi, 1)I hav a credit card & I made a payment.Due to some confusion Rs.1100 minimum payment was still due.Bank marked a lien on my savings account for such a small amount. 2)The amount of Lien was Rs.60000(total outstanding).I hav never faulted on a payment before.My credit score is 800+.I have 9 years of history with them. 3)The day they marked a lien,I had transferred about Rs.20000 as I wanted 2 make a few transactions.I was shocked to hear about the lien.So When I tried to remove the lien they raised a service request. 4)The service request took 6 days they took all the money with lien still intact. 5)When I contacted them they were of the opinion that there is still outstanding. Currently it is still disputed. I've stopped all payments now. My questions: 1)Can they mark a lien without Due notice. 2)Can they mark a lien for Rs. 1100 3)Arent banks supposed to give X no. of days to the customer to repay. Can they just randomly mark lien. Please help What r my legal options now?
Answers (1)

Answer #1
538 votes
Banks cannot Mark lien on savings accounts for non payment of dues in credit card. But I have to go through the entire details thank advise you in write direction. If the Bank has non acted properly then you can take a legal recourse and claim damages from the Bank

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