Hi I have got terminated in private sector due to...

We would like to inform you that if there is a loan and transferring the end of services to the same bank, then the bank will save your rights and may seize the benefit till the debt is paid. If the amount is more than debt or the loan will be paid, if the benefit wasn't enough to pay the debt, then the bank will back to you legally and claim for the rest of the loan.
So we advise you to receive the benefit personally without transferring to the bank.