Bank loans
Dear all,
I am due to move to Doha next few weeks and wondered what the situation was with banks re issuing personal loans, ie what documents do you need eg salary certificate and prev bank statements. I have an outstanding loan from HSBC in dubai which I am going to pay off by transferring monies from new qatar account but will this hinder my ability to get a loan in Qatar.
Reason for loan is i want to import my car into qatar and to do this i need to pay off outstanding loan on car so thought to get loan in doha then use this to pay car loan off in dubai.
Any advice much appreciated,
duncan
What I'm more worried about is how a grown man earning approx £70,000 tax free a year, doesn't have any emergency savings or assets he can liquidise in order to pay off the loan.
..
mashreq bank...OMG! they don't know how to take care of their clients.
do not try mashreq bank...
Muchas appreciato for the advice! I'll go to hsbc tomorrow and see what they can do. See u in qatar soon inshallah!
You will not be able to do what you are planning. Repaying 200,000 Dhs will put a lot of burden on a salaried employee like you and me. Also, you won't be able to avail a loan at Doha immediately.My suggestion is - Ask HSBC Dubai if they can allow you to transfer your loan to HSBC Doha. That is possible. I know of a friend who had done vice versa with Doha Bank. The bank's helpline/callcentre will decline your request immediately.You will have to personally visit their offices and talk to some senior officer in the Loans Section.If this works out,you can continue to repay your EMIs to the same bank from here.
All the Best!
Life is Beautiful...Indeed!
try Mashreq Bank too
Thanks everyone for ur comments. Salary is not an issue as i'll be on 33k per month but am worried about this 6 months period that has been mentioned. I owe around 200,000 dhs on car loan and personal loan as recently purchased property in dubai, all manageable debt but no wat i can pay it off in one go. Hopefully i can transfer the debt from my dubai hsbc branch to doha hsbc branch but if not, don't know what i can do.
When the crisis began.. banks are so strict nowadays because of the employees who are being layed off by their employers.. Most of the bank are asking for tons of requirements for those person who are applying for a salary loan. They increase the salary bracket for employees who like to apply for a loan. Must have at least 6 months salary credit from the bank..
When the crisis began.. banks are so strict nowadays because of the employees who are being layed off by their employers.. Most of the bank are asking for tons of requirements for those person who are applying for a salary loan. They increase the salary bracket for employees who like to apply for a loan. Must have at least 6 months salary credit from the bank..
When the crisis began.. banks are so strict nowadays because of the employees who are being layed off by their employers.. Most of the bank are asking for tons of requirements for those person who are applying for a salary loan. They increase the salary bracket for employees who like to apply for a loan. Must have at least 6 months salary credit from the bank..
It actually depends on the bank. I heard Doha bank still provide loans for salary over 10000. Check Qatar islamic bank too.
you need to be in Doha for at least 6 months(some 3 months)to be considered plus the salary requirements are very high....
one major thing in doha now for loans is, the applicant should have at least 25,000QR per month for the salary.