Bank loan re payment on termination of Job

jobyxavier89
By jobyxavier89
Could any one advice urgently if I am eligible for insurance coverage to pay the outstanding loan amount in BANK on termination from Govt. job and leave the country.
By Molten Metal• 9 Nov 2014 09:15
Molten Metal

1,70,000 Riyals is too much .................. ........................... ..................... Sun, 09.11.2014, 09.11 hrs

By jobyxavier89• 8 Nov 2014 13:00
Rating: 2/5
jobyxavier89

Hi Equin.Its personal loan amounting one sevety K balanceand the endof service benefit only 20000QR.

By Sheppy1985• 8 Nov 2014 11:07
Rating: 5/5
Sheppy1985

Insurance coverage is not applicable in this case & You can leave the country if your company not demanding you to submit clearance letter from bank (to get clearance letter from bank you have settle all out standing with bank) its depends on your company and your final settlement will be freeze by bank(Bank will wait for 3 months if you continuously fail to pay they ll start legal action) Nothing to worry once you have new job you can start paying all the best.

By Equin0x• 8 Nov 2014 10:39
Equin0x

What is the loan amount? And was that a "Personal Loan against salary" or Auto Loan for car purchase?

The Insurance covers the life risk of borrower only.

How much are your end of service benefits?

By newexpatqatar• 8 Nov 2014 08:21
newexpatqatar

Insurance coverage is not applicable in this case..You will not be able to leave the country unless you pay off your debts !!

By Molten Metal• 8 Nov 2014 08:08
Molten Metal

Many people got into this'' high speed to success '' trap & were almost ruined financially & socially ............................ when their plan didn't work through like some other cunning fellows ........ .......................... ................ Sat,08.11.2014, 08.09 hrs

By Molten Metal• 8 Nov 2014 08:04
Molten Metal

If you 're working / getting salary then don't take the short cuts to overtake others with borrowed money ......... Remain in your budget , don't dream in the daylight ........ ......... Sat,08.11.2014, 08.08 hrs

By Molten Metal• 8 Nov 2014 08:01
Molten Metal

But they can't sleep in the nights aftere reaching home because banks keep them reminding to repay the noney they 've spent on their wives / GFs / kids / relatives / pets ...... ... ................. Sat,08.11.2014, 07.59 hrs

By Molten Metal• 8 Nov 2014 07:58
Molten Metal

Not only you but everybody who takes a loan .......................... ........... some clever guys actually plan that .................. come to gulf , take loan , get terminated immediately after loan money is sent to India & leave gulf with free money & dignity ................. ........ ............... Sat,08.11.2014, 07.58 hrs

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