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HSBC: AED20,000 monthly salary needed to get loan
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 10 November 2008
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Results 1 to 12 of 12
Posted on Thursday, 13 November 2008
Loans at 20K
Posted by Ms Wayne at 13:19 UAE time
Well I do agree with the previous comment, "Why bother giving loans?
Posted by Minaka on Tuesday 11 November 2008 at 09:13 UAE time
If you earn 20K a month, most likely you wouldn't need much of a loan!! "
I believe we don't need to get any loan if we are earning such amount already, unless you want to put up your own business and risk your money in it.
The bank's move is not selfish in my view, instead it's helping us to avoid loans which we can't afford.
In this life we should always put in mind that we should spend only what we can afford.
UAE government should give the residents the consideration by revising the housing fee, so we can afford to stay nicely and to stop people from illegal sharing. This I think is the best way to help people around.
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Posted on Wednesday, 12 November 2008
Loans
Posted by Chris J at 17:32 UAE time
Has anyone else noticed that since the global credit crunch has become a torrent, we no longer get people ringing us trying to offer "fantastic" deals on credit cards????? There is some upsdie to have a credit crunch!
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HSBC Bank
Posted by michael at 10:14 UAE time
The first bank account i opened in UK was with HSBC (Midland Bank) i had this account at the same branch for 40 years, then during a hard spell i was overdrawn by UKP200 ( i did not receive any current statements) they then informed me that my account was now closed ( I sent them the outstanding amount, but it made no difference ) so If you think that Banks care then you are in the wrong world.
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UAE Banking Efficiency...
Posted by Jon at 09:00 UAE time
...it's what happens when you have third world banking systems
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Posted on Tuesday, 11 November 2008
hsbc
Posted by Me at 17:36 UAE time
at the end of they day aren't they really just doing a favour by encouraging people who do earn less than 20K to get into more debt given the current credit crisis?? I wouldn't ncessarily look at it as a bad thing as they also have a business to protect. however with increasing prices int he UAE the government are going to have to put better procedures in place and review the housing prices etc... 200K for a 3 bed villa?? Landlords need to stop being so greedy and realise that not everyone is on high wages... which is a completely different subject all together
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HSBC
Posted by Graham Plater at 13:31 UAE time
About two years ago I had the opportunity to experience what HSBC has to offer in Dubai. All I wanted was to open a corporate account and be allowed to pay in my share capital for a new FZ LLC. Almost 2 weeks later, they were still thinking about it. And I was spending loads of money on hotels, hanging around until they made up their minds and finally opened my account. How kind of them, considering that I wanted to give THEM money.
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HSBC Rejecting Loans
Posted by A Tam at 10:20 UAE time
I've been rejected a loan without any valid reasons just last week when my salary is more than their current threshold. Despite being a Status Account holder with HSBC for more than 2.5yrs in Dubai, HSBC has put in their system a "bad credit" mark for me when I rejected their offer of HSBC Platinum Credit Card. This is the only one reason they tried to put forward to me (verbal of course). So be careful how you deal with their telephone marketing offering you anything next time on the phone. It seems better just to "hang up " without a words than say "no, thank you" !!
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loan facilities
Posted by Mohammad Osman at 10:15 UAE time
I think the bank is exaggerating by picking the loan requests to minimum AED20,000 monthly salary while the Saudi British Bank and other Banks here in the Kingdom of Saudi Arabia are giving these type of loans ten times less than that.
People asking loans are mainly in need for their daily life except minimum number of business community. I believe human side is more important to be considered.
With regards,,,
MOHD.
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A better way
Posted by Doug at 09:55 UAE time
Here’s a thought. If the rental system was like anywhere else in the world this wouldn’t be a problem and landlords would actually make money. Say I earn 11,000Dhs a month, and I would like to rent an apartment. Now, I can’t get a loan from HSBC, or Lloyds TSB. Which means all the money-grabbing landlords charging for the whole year won’t get my money, because I can’t get a loan for any amount.
Now, say instead of charging 80,000Dhs for a studio for the whole year in one go, you’re a smart landlord and charge monthly instead. 80,000Dhs divided by 12 months is 6666Dhs. Now here’s the REALLY clever part. Charge 7500Dhs a month instead. If I’m earning 11,000Dhs, I can actually afford that. That leaves me with money left over. It means I don’t have to get a bank loan. It means I don’t have to illegally share. It also means that you, as a landlord, make an extra 10,000Dhs. In fact, it means you get an extra 90,000Dhs since if people can't get loans anyway, you can't rent out your property otherwise.
So, I’m happy, because I’ve got somewhere to live that I can afford. You’re happy, because you’re actually making MORE money by charging monthly, instead of yearly. DM is happy because I’m not illegally sharing. The only people who aren’t happy are the banks, because now they’re not making the money on the loan – and if you’re a landlord or a tenant, do you really care if the bank isn’t happy?
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HSBC's increased salary requirement for loans
Posted by Dee at 09:31 UAE time
And not before time!!!! Honestly if our banks had introduced these measures several yrs ago - or more correctly stuck to traditional lending practices, then chances are the world wouldn't now be in the disastrous state it is. The banks should be deeply ashamed of what's happened - but individual greed and the chance of making a quick easy buck plays just as large a part in what's happened. It's certainly beyond time for a serious reality check all around the world...
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bank loans
Posted by paul at 09:18 UAE time
It is about time the banks took responsibility for lending money to people who can not afford it. This is more beneficial to people and will prevent them getting swamped in to much death. Well done HSBC
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Why bother giving loans?
Posted by Minaka at 09:13 UAE time
If you earn 20K a month, most likely you wouldn't need much of a loan!!
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