1 reviews | Active since Mar 2025
I just had a home loan with ABSA cancelled and got charged pro rata 90 days interest.
My annoyance is that this bond was in place for more than 10 years and settlement numbers were requested and provided early January.
New registration was effected end of February.
ABSA decided to withhold penalty interest on what basis calculation was done unclear.
What is annoying is that I am allowed to make advance payments on the bond throughout its live with reduced interest charged and funds available in Flexi Reaerve
So if this has been accepted practice for 10 years, why am I penalised for period where the bond in fact has a credit balance??
Emails submitted to ABSA for clarification, but suitable answers not forthcoming
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