# 3-month Salary Statement Rule for Loans



## Coldubs (Jun 11, 2011)

Hi All,

We tried to get an Auto Loan at the bank and we just arrived 1 month ago. The bank assistant told us we cannot get a loan until they receive 3 months of automatic salary withdrawals into our account. We asked if we could show our bank statements from our USA bank and said that there was no way around it. Does anyone know how if this is true? Can I get a loan through the dealership by showing my bank statements? Are there international banks that do not follow this rule like maybe HSBC? (Currently banking with Emirates NBD) It just seems like a hassle to wait another 3 months just to get a car. Any help would be appreciated.


----------



## INFAMOUS (Apr 19, 2011)

I am with HSBC.. had no such issues.


----------



## Coldubs (Jun 11, 2011)

INFAMOUS said:


> I am with HSBC.. had no such issues.


Do you have a Salary current account with them ? or did you only get a loan with them? Just wondering if I can keep my Emirates bank account but get a loan with HSBC without having an account with them


----------



## INFAMOUS (Apr 19, 2011)

Coldubs said:


> Do you have a Salary current account with them ? or did you only get a loan with them? Just wondering if I can keep my Emirates bank account but get a loan with HSBC without having an account with them


Salary transfer required. I know my employer also has a partnership with them so that may make it easier for Staff here. If you want a contact name he will come to you to set up your account etc. No need to step foot in the bank.


----------



## Tony0202 (Sep 23, 2011)

Banks have their own rules about providing loans. However, an exception can be made if your bank overseas can send a "Reference Letter" to their branch in the UAE. Some Islamic Banks tend to be a bit more attractive on such asset backed financing than the normal banks.

All the best!
Tony


----------

