Personal Loan

Hi everyone.I have taken a personal loan from HSBC and later on I transfered to MASHREQ BANK due to the lower interest rate.Unfortunately; after 3 months I got terminated from my old multi-national company. I am now working to a local company. Now the problem is; MASHREQ BANK took all my gratuity and forcing me to find a guarantor because the bank is claiming that my new company is not a so called '' approved loan company ''.I contested and informed the bank that my personal loan was approved prior for my end of service from my previous company. I informed the bank also that I never signed any waiver or any aggreement that in case of end of service my gratuity will be taken by the bank; besides this was the first thing I asked during the application of personal loan transfer and the agent that time has told me that there will be no problem at all. According to the agent the gratuity will be held for a while until I transfered my salary to the bank from my new company regardless whether it is a approved loan company or not.
The bank refused to take my salary transfer unless i presented a guarantor who will issue a full payment check for the remaining balance of my personal loan.
The bank keeps on threatening me especially these rude and unprofessional agents that keep throwing bad words on me.They say that they will file a case againsts me and they will send me to jail and worst they will hold me in the Immigration.For what?for not presenting any guarantor or because of my present company is not a approved loan company.I dont have any late payments on my personal loan.I deposit cash for my payments.
Please anyone help me concerning this. I am sick and tired of all the harrashments and threats from MASHREQ BANK.Thanks and Godbless

Comments

they have no right to threaten you ..it 's very simple you transfer the new salary to them ( even the new company is not approved by them) , you will bring new letter from new employer saying that in case you resign or terminated he will inform Mashreq Bank..
I already did but the bank refused to accept the letter from my new company but instead the bank insisted and forcing me to find a guarantor.
this is nonsense. in my opinion, complain to CBQ (Central Bank of Qatar) u can do the complain online in their website and show Mashreq that u have already complained. if u got some result or respond from CBQ well and good, & if not: u r not loosing anything
thanks sir for the advice..I will file a complain to CBQ.Godbless
Kabayan, we are exactly the same predicament (even from the same bank which is from HSBC to Mashreq). The only difference was that I managed to withdraw my gratuity before they even knew that I had already transfered to a new sponsor (which is not what they called "approved"). They were also very furious and thretened me. But I ignored their threats because I was continuously paying my loans and without any default. But anyway I had managed to pay my loan in full to avoid any consequence that may arise.
call me 33083786
Why is Mashreq Bank annoying ppl by its improper services ?
If you read through your STANDARD LETTER submitted to them prior to your loan, it stated there that the company is obliged to transfer ALL of your money to them in case you decided to leave, or terminated from your work. This is the letter of guarantee to the bank. Furthermore, rest assured that Mashreq will be informing the authorities of your non-payment, which will give you a travel ban, more so if you signed a "security cheque"... Further ignoring them, you will lose in the end. I've been into that position before...what's worst is i paid in full my obligation and they "mistakenly" forwarded my case to court a day after i made the payment. travel ban plus mandatory court appearance is a pain in the a$$... Only option is either you take a loan from a bank and pay them off, otherwise they will not stop and make your life miserable.
If you feel you have a valid complaint against the bank, do so with the Qatar Central Bank - they have the authority to make decisions on these cases - and Mashreq will have to comply with their ruling.
I agree with you..I even submitted myself to the bank and has informed them personally that I was terminated and presented the end of employment letter from my previous company that in good faith I will continue to pay my financial obligations and I dont have any intention to leave the country. The only thing I need from them is to allow me transfer my salary and to get my gratuity since I will continue the monthly payment on my personal loan under my new company.It happend that one of the requirements according to them is the so called guarantor aside from the salary transfer letter from my new company.
mr confused is there no insurance applied in any personal loan just incase the borrower got terminated and the company doesnt want to give any release?what will happen to the borrower?
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Recently the same situation with me but bank was CBQ and they didnot raise any thing like mashriq bank
i took a loan from mashreq last year and it was the most wrong decision i ever took. the reason i choosed this bank was the interest and speed of service and both are wrong. it took them 2 months to finalize the transaction and that was after i emailed their VP in Dubai about it. believe it or not Qatar presence of the bank is just dummy,sweet talk only, but someone in UAE must take the decision. i faced a situation that i needed to postponed an installment answer: we stopped this service 2 years ago. i have made a transaction in the first week of the statement for big amount and applied to be installed on 9 months with its high interest answer: after 3 calls to customer service (which is by the way in UAE) they confirm to me that someone will call me right after i hang off the call to finalize the transaction, and nothing happens. in the forth call, they apologies as at the time of the forth call the statement is closed and the transaction must be done in the same month. i have went to another bank to transfer all my accounts to, i need liability letter to finalize the transaction answer: we want you to stay with us, check what offer you get and we ill match it for you. "no, thanks i need te documents only" 2 weeks and documents are not yet given to me, why? we are still waiting for approval ?!?!?!?!! i'm going there this week again to check, if i did not get it , i will resume on the same email of last year to their VP tip of advice to deal with such bank, bring it up in the bank itself (UAE not dummy qatar office) if this did not work with you, report to CB. banks do not like complaints, it is like black dots in renewals
There is no insurance for a personnal loan. Only the credit card has and that is if you had applied for a credit shield.
i am planning to take a loan and your informations are all good. many thanks guys!
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