I have a salary transfer account with First Abu Dhabi Bank (FAB) and a personal loan as well.
I needed a top-up loan for which, I applied to FAB on April 8, through their agent. FAB could not decide on my eligibility for a top-up loan for one month, after which, the application I made was no longer valid. I was told by the agent that FAB did not reject my application but was not able to make up its mind on my eligibility as my company was not listed with them. When I asked my agent how FAB was able to set up a personal loan for me and a salary transfer account without even having listed my company, I did not get any clear answer.
As I needed funds for personal reasons, urgently, I approached another bank that gave me a loan offer letter on May 15. As per the procedure, I requested FAB for a liability letter on May 16 on the basis of the offer letter from the other bank.
One day after I took the decision to close my personal loan with FAB and request the other bank to buy-out my FAB loan and give me a top-up loan, the retention team from FAB called and informed me that my top-up loan was approved. They clearly told me that a liability letter may take a long and undetermined amount of time and my loan with the other bank could get stalled. They told me it was in my interest to withdraw my request for a liability letter and get my loan processed through them. I maintained that I needed my liability letter at the earliest and my decision was final. I even generated a complaint through their call centre and was assured that I would receive a call back. The call never came.
I now fear that after having spent so much time on my request for a top-up loan, FAB is now stalling my attempts to obtain a loan from another bank that is willing to lend to me. I feel helpless and intimidated by FAB’s attitude.
Please help me in resolving this matter.
From Mr Sudip Sanyal
Dubai
The management of FAB responds:
FAB supports the growth ambitions of its stakeholders and goes beyond financial products and services, and as such, we are grateful for all customer feedback as we strive to consistently deliver the highest standards of service. The bank has been in contact with Mr Sanyal, and the matter has been resolved.
Mr Sanyal responds:
I can confirm that this issue was resolved to our mutual satisfaction.
(Process initiation: June 5. Response from organisation: June 10. Reader confirmation: June 17.)
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