mahindaboy, i believe you cannot apply a loan with Mashreq if your company is not in their apporved list, so are you trying to say that there is possibility to get a loan to those company not approved? and there's no way to get our company get approved?
I would not hold my breath either on the Commercial bank. I did bank with them for eight years and they kept on asking me more and more documents for a loan that was far less than my annual income. With clean credit history and no default payments on two passed loans with them, this time they came back and told me they did not understand where my wages are coming from. They received my wages every month for the past eight years and yet could not understand? And this was dragging over a month. After the bank rep I was dealing with started complaining and making comments on their upper management, I seen it was high time to switch.
i have one case - disadvantage with marhreq bank. i had a top-up loan, understood my monthly amortization will be changed but i signed a new check for my top-up while my current cheque are still them. i tried to get all back remaining cheques despite of insisting me that it will be ok and automatically that would be cancelled and honoring the new cheques. i still want my cheques back and they keep on promisises that i'll be getting soon. until the first due date of my new signed cheque is due, what they did by ngeligence they deposit all the 2 cheques together and my account have only an allocation for the new amortization so in short my 1 check is bounced due to NSF + they charged me 250 for NSF. i made a complain many times to return it back the 250 they took from my account but imagine that was wayback 2009 and until now i did not receive back my 250. the worst thing is that it was all reflected at Qatar central bank record that i have NSF, i learnt it the time i applied recently a loan at Commercial bank. they require me to provide a proof that those bounced cheques have been cleared. i provided my statement of account from 2009 to present but unfortunatelty it was not enough to get my application approve in short it is rejected.
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mahindaboy, i believe you cannot apply a loan with Mashreq if your company is not in their apporved list, so are you trying to say that there is possibility to get a loan to those company not approved? and there's no way to get our company get approved?
Zabaga
I would not hold my breath either on the Commercial bank. I did bank with them for eight years and they kept on asking me more and more documents for a loan that was far less than my annual income. With clean credit history and no default payments on two passed loans with them, this time they came back and told me they did not understand where my wages are coming from. They received my wages every month for the past eight years and yet could not understand? And this was dragging over a month. After the bank rep I was dealing with started complaining and making comments on their upper management, I seen it was high time to switch.
Go with islamic banks (masraf al rayan or QIB) or qatari conventional banks like QNB and CBQ
i have one case - disadvantage with marhreq bank. i had a top-up loan, understood my monthly amortization will be changed but i signed a new check for my top-up while my current cheque are still them. i tried to get all back remaining cheques despite of insisting me that it will be ok and automatically that would be cancelled and honoring the new cheques. i still want my cheques back and they keep on promisises that i'll be getting soon. until the first due date of my new signed cheque is due, what they did by ngeligence they deposit all the 2 cheques together and my account have only an allocation for the new amortization so in short my 1 check is bounced due to NSF + they charged me 250 for NSF. i made a complain many times to return it back the 250 they took from my account but imagine that was wayback 2009 and until now i did not receive back my 250. the worst thing is that it was all reflected at Qatar central bank record that i have NSF, i learnt it the time i applied recently a loan at Commercial bank. they require me to provide a proof that those bounced cheques have been cleared. i provided my statement of account from 2009 to present but unfortunatelty it was not enough to get my application approve in short it is rejected.
You will have to pay back the borrowed money to the Bank.
take the loan and credit card first and you will know the disadvantage.