Questions & Answers
How to release my EOSB from the bank after changing jobs and submitting documents?
Hello,
My bank is not releasing my EOSB. I resigned from my previous company after 10 years with them as I will be transferring to another company. I just started a week ago.
I was told by my bank that they will not release my money since my salary is AED 1,000 less than what I previously earned. My current salary is still able to cover my liabilities with them.
I even inquired with them last month and informed them of my resignation and was told that as soon as I submit my documents from my new employer, they will release my money.
This was not the case now. Please help.
I don’t have any plans of leaving the country and willing to continue with my payments. I’ve never missed a payment with them.
You can get your end-of-service benefits once you present your new salary certificate to the bank.
Furthermore, yes, you can use the new bank direct debit system to pay off your loan.
The current bank has the right to deduct the subsequent monthly installments from the end-of-service benefits.
You may have agreed to set off the amounts due in the terms and conditions that you signed when opening the account with the bank.
However, the bank is only entitled to set off if you default on your payments.
