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Request to the bank for releasing the EOSB held against a loan

My contract was terminated after four years of service and I have received the End of Service payment to my bank account, but this amount was immediately blocked.

I have contacted the bank to release the amount. I also said that I want to continue normal payments of loan instalments. I still have about 24 monthly payments, but the payment is only for 9.

Can the bank agree that I make instalment payments if I am no longer in the UAE?

Naser Muhyealdeen

Hassan Al Riyami Advocates & Legal Consultants

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31 Aug 2018, 08:00

The bank has all the right to block your EOSB if any loan amounts are outstanding.

Also, if you are not going to be in the UAE, the bank will certainly not agree to an instalment plan since there is a great risk of default especially if you are not in the country.

It is best to settle your dues with the bank now if you are leaving the country so that you avoid any future problems in case of payment defaults.

31 Aug 2018, 08:12

I am no longer in UAE. I have asked the bank that I continue with normal loan instalments until the loan is fully paid.

They said that they will forward the case to the collection department. I have always paid my instalments on time and in full, but I have no possibility of paying the outstanding amount.

Is there any formal reason that I cannot continue to pay the loan when I am outside the country?

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