Clearance Letter from SABB

R_Nunna wrote:

I have shifted my loan from SABB to Al Rajhi and Loan have shifted and it is showing no loan in SABB but still i have credit card if i pay the credit card amount is it mandatory to cancel credited card or i can still use it

Dear ,
Loan and Credit cards are two different products of banks. you can use ur credit card until you are willing to pay on time.
bank will not say anything until you miss their payments.

Thanks for the reply and i appreciate you prompt response on my topic.

suppose i have 20k in my 2 credit cards whereas all these years i am paying on time the monthly payments where as i just want to get clearance letter as i have cleared the loan in SABB will SABB provide the same, so that i can get transfer letter from my company to Al Rajhi.

Why i am asking is yesterday i went to SABB branch they are saying i have pay my pending amount in the credit card in order to get clearance certificate from SABB

i am confused what to do.

Thanks in advance.

R_Nunna wrote:

Thanks for the reply and i appreciate you prompt response on my topic.

suppose i have 20k in my 2 credit cards whereas all these years i am paying on time the monthly payments where as i just want to get clearance letter as i have cleared the loan in SABB will SABB provide the same, so that i can get transfer letter from my company to Al Rajhi.

Why i am asking is yesterday i went to SABB branch they are saying i have pay my pending amount in the credit card in order to get clearance certificate from SABB

i am confused what to do.

Thanks in advance.

For your case, you can show your company your loan history and current bank account statement as clearance, attach it with your new bank account and loan balance. No need to inform them Credit Card, but yes now a days banks are very strict, even you change company you must inform your bank that sponsor has been changed else they will block your money as well.
now come to your company, if they want want to, they can do all without any bank clearance only on the basis of your bank statement of loan and current account. so here what i always says to all make good relations in your company and keep them to use in problems like that.
But still if your company is forcing you to get clearance certificate then ask your second bank to clear your CC also and keep all as one loan they can do topup in your Loan transfer if your salary range and number of years in same company allows that.

Hi Thanks for the reply,

I went to SABB bank and checked they told i have to clear the credit card and cancel it where i checked with my company they are saying they need clearance letter.

So i  have cleared my Credit Cards but as i have outstanding balance it will take 5 to 10 working days to clear then only i can cancel the credit cards, upon the request day of cancelling credit card it will take another 5 working days and after cancelled then i have to apply for clearance letter from SABB where it will take another 7 working days.

in Al Rajhi bank after loan transfer i have around 5k remaining and my installment will be starting from Jan 2021.

my question is that i have to travel outside KSA on emergency on Dec 4th 2021 and will be returning back on Jan 15th as i don't have time now to follow the procedure and get clearance, So am i allowed to travel or will it be any objection for me because i am planning to do all these things once i am back to KSA.

Thanks in advance.