All about end of service benefits

What happens to your accounts and liabilities when you change or lose your job

What happens when you change or lose your job

If you have a salary transfer account with Emirates NBD, your employer will most likely transfer your End of Service Benefits (EOSB) to that account. If you have liabilities with the bank in the form of a personal loan or have irregular payments with your other liabilities, access to your End of Service Benefits will be restricted until you provide us with your new employment details, or your liabilities are cleared.

The bank can take the following actions:

If you have a credit card:

Your card limit will be temporarily decreased to the amount of your outstanding balance plus AED 5,000.
If your card limit is used in full, your outstanding amount will be debited from your End of Service Benefits and your credit card will be temporarily blocked.

If you have a personal loan:

The outstanding loan amount will be blocked from your End of Service Benefits.
If your outstanding loan amount is more than your End of Service Benefit, the End of Service Benefit will be blocked in full.

Overdue payments or delinquency on other liabilities:

The bank might debit all overdue payments from your End of Service Benefits or block any outstanding amounts owed to the bank in your account.

Releasing your End of Service Benefits

You can release a hold on your End of Service Benefits by:

Updating us with your new employment details, or
Clearing your liabilities

Update your new employment details with us

To update your new employment details, visit your nearest Emirates NBD branch with the following documents:

Your new offer letter, contract, or official employment letter
Passport with stamped visa copy
A salary transfer letter if you’re transferring your new salary to us

Note: If you have a personal loan with us and you want to continue enjoying your existing interest rate, your first salary must be transferred to us. Just give your new employer your account details so they can continue transferring your salary to us.

What’s next

Once we have your new employment details, please contact the Collections Department on +971 600 54 0040, Monday to Friday between 9am and 4pm and request a release of your funds.

Once your request is processed, your end of service will be released within 1-2 working days.

Clear your liabilities

You can clear your liabilities by visiting a branch or by calling us.

FAQs

Once I pay off my liabilities, how can I release my End of Service Benefits from the bank?

Please contact the Collections Department on +971 600 54 0040 Monday to Friday, 9am to 4pm and they will be happy to help.

If I am changing my job, or have lost my job, do I need to inform the bank?

You should inform the bank if you have liabilities with us including loans or credit cards. You will need to provide us with your new employment details or pay off your dues failing which your End of Service Benefits will be blocked and / or your accounts frozen.

Does Emirates NBD have the right to block all or a portion of my End of Service Benefits towards my liabilities without my consent?

Yes, as per the terms and conditions on the loan or credit card contract, the bank can block or debit any outstanding amounts from your End of Service Benefits.

Will the bank notify me when my account or End of Service Benefits are being put on hold?

Yes, you will be notified when the End of Service Benefits is received and if any or all of it is being put on hold.

Can I continue with my salary transfer account when I change or lose my job?

Yes, you can. If you’re in a new job, just let your new employer know your account details so they can continue to transfer your salary there.

My salary will be changing at my new job. Does the bank need to know?

No, but we do recommend you update your details with us so we can offer you the most suitable products for your salary bracket.

What documents do I need to submit to the bank if I have a loan and I change my job?

If you change your job, you need to update the following documents with the bank if you have a credit card, auto loan or personal loan:

Your Emirates ID
Salary transfer letter
Passport and stamped visa copy

Please note, your new salary needs to be transferred to us if you want to continue with the existing rate of interest.

What if I’m unable to come to the branch to update my employment details?

If you’re unable to come to your nearest branch due to COVID related issues, medical reasons or if you’re outside the country, then simply email the below documents to leftjob@emiratesnbd.com from your registered email address.

Make sure to attach the following documents:

Your new offer letter, contract or official employment letter
A stamped copy of your visa
A salary transfer letter if you’re transferring your new salary to us

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