Personal Loan
By eljoknight •
I am just wondering, I have a personal loan in a certain bank and in the event my company tranfer me to another GCC country, can I still pay my personal loan eventhough I am already in that country?
How the bank deal with this uncertain event? Are they going to put me in jail for that matter? Does the bank has a insurance for personal loan?
Thanks for answering my question...
eljoknight
If this is a temporary transfer without the visa cancellation than, the bank has no problem with this, all you have to make sure is enough funds available for the installment. But if your visa is cancelled and you obtain a fresh visa for another GCC country then bank dose not allow that because as per the law you will be paid your end of service benefits and no guarantee of your return to the State.
If the company would transfer you to other GCC country; then your reason is valid and your company can issue certificate that you will be transferred.
Certain Bank policies are applicable to your case - ask your bank.
Good luck!!
It all depends on the company policy. As long as your admin will not inform the bank it is possible. But normally,they do inform the bank in advance. Some banks allow guarrantor and some are not. In case they dont allow somebody to guarranty you they will require you to settle in full.
Goodluck.
you have to go to the bank where your loan is and make an specific agreement with the bank... present the facts that your company is transferring you to another country but you still want to carry on paying your loan with them.. you will not loose anything for being honest..