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.
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.
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
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
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
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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1,70,000 Riyals is too much .................. ........................... ..................... Sun, 09.11.2014, 09.11 hrs
Hi Equin.Its personal loan amounting one sevety K balanceand the endof service benefit only 20000QR.
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.
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?
Insurance coverage is not applicable in this case..You will not be able to leave the country unless you pay off your debts !!
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
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
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
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