getting a bank loan during probation
By vaidhee - Posted on July 28th, 2008
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Hi,
can some one get a high value bank loan while they are in probation. with the seniors consent can someone prove they have become permanant and take a loan. does it amount to fraud.
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dont put your self in loan as it steals your peace of mind. islamic loan is interest free. u can go for it.
thanks ruhimall and this is not for me. but your advice is worth a thought for all and make people think to lead a life within their own sources.
The Best answer will come from any banking professional. But so far my understanding. Bank requires security/collateral. A person working on probation may be terminated during his probation due to poor performance etc. Therefore, Banks would like to consider employees having salaries transferred into banks more than 3 months.
Further, it depends on the bank/Loan Nature and person's financial sounding. A person who have already worked for many years in the country, may be considered on his switching the new job.
Banks only gives loans to people who have their employment visa stamped/rare cases on approval. Therefore, it takes place during 2nd month of employment approx. and further processing covers the rest time left of probation.
Let me see if somebody got any better ideas.