HW
H W

1 reviews | Active since Jul 2023

18 Jul 2023, 14:58

Absa Loan Disappointment

Being a customer of Absa for 13+ years, I was very disappointed in their home loan offer. Every other bank offered better terms than they did even though I have only ever used Absa. First time they have disappointed me but I really expected more from them. I will be taking my business (account, credit card and personal loan) elsewhere. Only reason why this is a 2 star review instead of 1 star is because of all the good years I had with them.

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Replies (3)
Absa
Absa's reply18 Jul 2023, 16:16
Official
Dear Heinrich Thank you for bringing this unfortunate matter to my attention and please accept my sincere apology. I will review and provide you with my specific contact details as well as the expected timeframe for further feedback/resolution via email or by making contact with you telephonically.   The reference number for your complaint is C-***7. Kind regards,Vanessa CroweGroup Customer Care

Best regards,

HW
H W's update18 Jul 2023, 16:55
Reviewer Update
Below are the offers that I received:

Absa Bank - approved in principle R490 000 - regrettably, this is their highest offer - we await their final approval which is subject to a satisfactory property valuation Standard Bank - granted full bond + an additional R24 000 towards the costs - any costs over and above this amount, will be for your own account Nedbank - granted full bond + an additional R24 900 towards the costs - any costs over and above this amount, will be for your own account  

As said in my initial review, I am very disappointed with the offer from Absa since I've been with them for 13+ years. The very least I expected was to have the best offer matched from the other banks which would be from Nedbank. I have already accepted the offer from Nedbank. As I said, I have never had anything negative to say about Absa and have always only promoted them when speaking to friends and colleagues (even got 1 colleague to switch to Absa about 2 yrs back). But the offer made by Absa seems to indicate that they do not value me as a customer even though I've not even considered going to other banks when I needed a loan or a credit card. 

I'm not sure what the interest rate from Absa was, but Nedbank offered me 11.25% if I switched to them. If Absa offered R24 000 towards cost I would have more than likely stayed even if the interest rate was a bit higher.
Absa
Absa's reply19 Jul 2023, 08:39
Official
 Dear Heinrich

With regards to complaint ref # C-***7.  Thank you for the additional information. You are welcome to respond to the email I send you with personal information.  Kind regards,Vanessa CroweGroup Customer Care 

Best regards,