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Can the bank still hold the EOSB even after providing documents of the new job?

I have been regularly paying my monthly installments until I lost my job and I know that the bank will deduct the amount from my EOSB until I get a new job.

When I got my new job and processed all the documents like my visa and EID, I immediately submitted them to the bank along with my salary certificate which shows that I have the same salary from my previous employment and the same amount was used as the basis when the bank approved my loan.

So basically, I will be able to pay the same EMI. I have been going to the bank several times to check the status of my request for the release of the EOSB and each time I go, they have different statements.

Finally, I got a call and the bank says they won't release it as it has to be partially used as a payment for my loan. What can I do?

Ahmed Mohammed Bashir Advocates & Legal Consultancy
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10 Nov 2021, 15:42

Dear questioner,

The answer to your question depends on your contract with the bank, so kindly share the same with us on our WhatsApp.

Moreover, we can advise you to complain to the Central Bank of the UAE. But the complaint is not advisable until a thorough review of the contract is carried out by a legal expert.

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