Loan Transfer

Selvarocks wrote:

Hi i am new to this forum, i like to know is it possible to transfer personal loan availed in Oman to bahrain. ( Standard Chartered Bank ). When i checked with bank, they say i have to close it before i do the exit. But some of my friends say you can exit country and pay the EMI staying outside oman. As long as EMI is paid properly bank will not take any action.  If any of you have such experience, please do share with me and kindly provide me best suggestion

The best thing would be to discuss it with your bank from whom you borrowed the money.

Agreed, but i didn't get much help from bank,.. they were saying i need to close the loan before exit from country. If any body have come across such situation.. Please do let me know....If i don't have option to pay the loan from bahrain then i will be in bad situation to loose the offer i got in bahrain. Kindly share your fiindings

Discussion and agreement with your present bankers in Oman is the best way to go. If they have the ability to transfer your loan in Oman to the Bahrain branch then they should not have too much of problem. Otherwise, I am afraid you will have to fully repay the Oman loan before moving out.

Hi Farhaz,

Thanks for the information.  I will discuss with bank guys and update for sure..

Thanks for the info. I will discuss bank again and I will update for sure...

I work in Bahrain and I am on my vacation these days. I have few electronic devices on EMI. I didn't find any problem to pay from outside of Bahrain. I hope same case is for the banks in Oman. loan doesnt mean you are in Jail you can roam anywhere you want. just pay them on time.