LOAN FROM LOCAL BANK IS STILL DUE .BUT I WENT BACK TO HOME

SATHIYARAJ DREAM BIG · 2023-02-04T13:29:35+01:00

Discussing the implications of taking a bank loan in Singapore when returning home. Can you leave while paying off a 30K loan? Find out here.

SATHIYARAJ DREAM BIG Member

Member since 10 January 2022

SATHIYARAJ DREAM BIGMember04 February 2023 11:29:35

HI IF SOMEONE BORROW 30K DOLLARS LOAN FROM A LOCAL BANK WHILE HE IS WORKING IN SINGAPORE .FOR SOME PERSONAL REASON OR JOB CUT HE WENT BACK TO HOME COUNTRY BUT STILL PAYING THE DUE AMOUNT EVERYMONTH UNTIL THE LOAN CLEAR NO PROBLEM RIGHT OR THE BANK CAN STOP HIM FROM GOING BACK TO HIS HOME COUNTRY AND IT WILL ASK HIM TO PAY THE DUE AMOUNTS聽 BEFORE LEAVE SINGAPORE.

beppi Germany/Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany/Singapore Expert04 February 2023 14:11:14

15497

Please don't post in ALL CAPS, as this is seen as shouting and rude on the Internet!

The bank cannot stop you from leaving the country, only a court possibly can. But, depending on the fineprint in the loan contract, the bank could cancel the loan in this case and then you have to pay it back immediately.

Better make a mutually agreeable arrangement with the bank before you leave!

(Or, even better, don't spend more money than you have!)