BOI Lien Charges on Savings Account.

[tusharghai40]

Hi, my account balance for BOI has turned negative. Even after complaining with RBI ombudsman I have received the following reply from BOI.

"
Sir,

Kindly refer your captioned complaint.

Please note that balance in your account no. ****3935 is Rs.152.00 (Credit balance) as on 31-08-2023.

Total Lien marked amount in your captioned account for Minimum Balance charges is Rs.1711/- as on 31-08-2023

which will be charged whenever balance will be available in account.

You are hereby requested to regularize your account at the earliest and keep average quarterly balance in account

Kindly contact Branch for the details."


I did reply saying that lien charges are just like negative balance and due to that I am unable to close my account.


Any Help and Suggestions regarding this would be appreciated.

 

[Gigachad]

Hi, my account balance for BOI has turned negative. Even after complaining with RBI ombudsman I have received the following reply from BOI.

"
Sir,

Kindly refer your captioned complaint.

Please note that balance in your account no. ****3935 is Rs.152.00 (Credit balance) as on 31-08-2023.

Total Lien marked amount in your captioned account for Minimum Balance charges is Rs.1711/- as on 31-08-2023

which will be charged whenever balance will be available in account.

You are hereby requested to regularize your account at the earliest and keep average quarterly balance in account

Kindly contact Branch for the details."


I did reply saying that lien charges are just like negative balance and due to that I am unable to close my account.


Any Help and Suggestions regarding this would be appreciated.

Bank use this trick to escape rbi guidelines..

You can mail them asking to remove the charges as u wn8to use the this account..
They might go it..
Otherwise just just leave it dormant..

 

[tusharghai40]

Bank use this trick to escape rbi guidelines..

You can mail them asking to remove the charges as u wn8to use the this account..
They might go it..
Otherwise just just leave it dormant..

The charges would Increase over time

 

[Gigachad]

The charges would Increase over time

You can always not use the account...

 

[ShavirB]

Hi, my account balance for BOI has turned negative. Even after complaining with RBI ombudsman I have received the following reply from BOI.

"
Sir,

Kindly refer your captioned complaint.

Please note that balance in your account no. ****3935 is Rs.152.00 (Credit balance) as on 31-08-2023.

Total Lien marked amount in your captioned account for Minimum Balance charges is Rs.1711/- as on 31-08-2023

which will be charged whenever balance will be available in account.

You are hereby requested to regularize your account at the earliest and keep average quarterly balance in account

Kindly contact Branch for the details."


I did reply saying that lien charges are just like negative balance and due to that I am unable to close my account.


Any Help and Suggestions regarding this would be appreciated.

Hi, since your account balance is Rs. 152 Bank can only charge you a max of Rs. 152 as penalty fees (not more than that). Basically your account balance can't be negative because of these Penalty charges. RBI had also released a document for this

You can refer RBI's document here : www.rbi.org.in/Scripts/NotificationUser.aspx?Id=9343&Mode=0