1 reviews | Active since Nov 2012
Absa obviously not passionate about helping their clients
I recently took out a settlement loan with ABSA. Before i signed i noticed that my installments was higher than what it was with nedbank (which also had a higher interest rate than what absa gave me, but still my new absa loan had a higher installment than what i had with nedbank) The consultant told me that it's only the 1st installment that will be higher, then it will be the lesser amount. I asked more than once if all additional charges was included in the installment and the consultant confirmed. Unfortunately this was not true. I ended up sitting with installments higher than what i had with Nedbank, although absa gave me a lower interest rate... I queried this but obviously could not do anything about it. I ended up requesting that nedbank take the loan back. They were happy to do so, however, the consultant who assisted made a error and they ended up paying the amount outstanding on the credit bureau and not the actual settlement amount. This resulted in me still having an outstanding amount on my absa loan. I queried this with nedbank, unfortunately took a month before i got feedback, which resulted in more interest accumulating on my absa loan. Nedbank is unfortunately not being helpful at all and are refusing to admit fault. I tried making arrangements with absa to either freeze the account to stop interest from accumulating but i was told this is not possible, i will have to settle the full amount (which i obviously can't do since i now have to pay the same amount to nedbank for the loan with them) So, i am stuck, with no help from either of my banks. I don't know which is worst, absa or nedbank
