Bank loans in Morocco

Member since 30 May 2013

PriscillaViP22 August 2018 09:42:32

42358

Hello,

Finances and banking can sometimes be a headache for many expats, especially when it comes to taking out bank loans.

Is it difficult for an expat to get approved for a bank loan in Morocco?

What are the types of bank loans available for expats (mortgage/bonds; business loans; car loans; personal loans; student loans)?

What are the general conditions for expats to take out bank loans (interest rates; timeframe to repay loans, etc.)?

Which bank in Morocco is the most popular or accessible for expats regarding loans?

Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?

What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?

Are there any other options for loans aside from the bank in Morocco, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?

Thank you for sharing your experience.

Priscilla

Poster89 Guest

Poster89Guest27 August 2018 09:02:59

This is my personal opinion on your post.

Do not take a loan from a Bank, ever, in a foreign country. This is looking for trouble as the law is never in favour of the foreigners鈥� interests. As it should.

The basic philosophy of living in a foreign country is: If you can not afford it, don鈥檛 touch. Period.

sweetmann New member

Member since 08 September 2018

sweetmannNew member09 September 2018 12:06:42

I think it is not easy to take a loan even for Moroccan citizens.The Moroccan banks are very strict about this unless you have all the warranties they require.