Bank loans in Morocco

Post new topic

Priscilla ViP

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

214245

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.

Articles to help you in your expat project in Morocco

Opening a bank account in Morocco
Opening a bank account in Morocco is relatively easy. The language barrier could be an obstacle if you do not ...
Banking in Morocco
Opening a bank account in Morocco is not a difficult task, and often the only hurdle is a language barrier if ...
Choosing your neighbourhood in Marrakech
Marrakech comprises five leading neighborhoods, namely Medina, Mellah, Gueliz, Hivernage and Chrifia. Each of them ...
Casablanca neighbourhoods
Stretching over 220 km虏, Casablanca is more than twice the size of Paris. Like all historical cities and ...
Getting married in Morocco
If you want to get married in Morocco, there are different steps and a variety of procedures to follow. These can ...
Making phone calls in Morocco
During your stay in Morocco, you will certainly wish to keep in touch with friends and family. To do so, you can ...
Getting around Marrakech
In Marrakech, there are many means of traveling inside the city and outside, whether for work or leisure. Each of ...
Driving in Morocco
You can drive with an international driver's license in Morocco for a period of one year as from your date of ...