# Applying for a bank loan.



## daphloves (Dec 10, 2013)

I am working as a secretary on a legal consultant/advocates firm. I wanted to get a load, but as I have made some inquiry on some banks, they need at least a salary of 5000 AED. But i am only getting 3000 AED. can you please advice me? I am planning to get a loan not more than 30,000.

thank you for any idea.


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## Gavtek (Aug 23, 2009)

I would advise not to take out the loan if at all possible, you'll be paying 1/3 of your salary in loan repayments over the next 3 years even if you can find a lender with reasonable rates of interest, leaving you with a maximum of 2000/month to live on and send back home.

If anything happens and you lose your job for whatever reason, you'll end up stuck here, possibly in jail until you can re-pay.

Are you able to get a loan from a bank back home?


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## Budw (Oct 14, 2013)

Gavtek said:


> I would advise not to take out the loan if at all possible, you'll be paying 1/3 of your salary in loan repayments over the next 3 years even if you can find a lender with reasonable rates of interest, leaving you with a maximum of 2000/month to live on and send back home.
> 
> If anything happens and you lose your job for whatever reason, you'll end up stuck here, possibly in jail until you can re-pay.
> 
> Are you able to get a loan from a bank back home?


Gavtek is totally right. 

Personal loans are once worst nightmare, are the start of a horrible decline of once financial situation. Its high risk, there is a realistic possibility you up with debt, legal cases and no way to pay back. Do not do it. The best is to discipline yourself to save money....


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## Chocoholic (Oct 29, 2012)

Budw said:


> Gavtek is totally right.
> 
> Personal loans are ONES worst nightmare, are the start of a horrible decline of ONES financial situation. Its high risk, there is a realistic possibility you up with debt, legal cases and no way to pay back. Do not do it. The best is to discipline yourself to save money....


AHHHHHHHHhhhhh that's better.


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## ganeshindubai (Apr 2, 2013)

Do not take any loans nor Credit Cards- Best advice you could ever get !


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## Bklyn (Dec 11, 2013)

ganeshindubai said:


> Do not take any loans nor Credit Cards- Best advice you could ever get !


So, true.


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## Its whatever (Dec 30, 2013)

The friends here have well said, do not be a victim of any bank here! For some mysterious reasons, when you get a bank loan of 30000, they'll double it even if the interest rate is low! yes It's really horrific! I'd recommend you to save!


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