Effect of the EOSB on bank loan after termination of employment

Question

Q: Can my bank loan affect the end of service benefits, even if there is no salary transfer agreement with my employer and the bank? A: If the salary is being transferred, then when you resign or get terminated the bank will freeze your EOSB the moment it is transferred to it…

Hari Wadhwana · Accepted Answer

Dear Sir/ Madam,

Thank you for getting in touch with me on this.

If your salary is not being transferred to the bank where you have a loan, then your EOSB is safe and secure.

However, if the salary is being transferred, then when you resign or get terminated the bank will freeze your EOSB the moment it is transferred to it.

I trust you will find this helpful.

Regards,

Hari Wadhwana

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