Beware when getting a loan from ABSA, what they say and what they do is not the same.

Just for your information and consideration when you apply for a loan at ABSA. Beware as what ABSA says you will pay is not what you will pay.

According to the said discussion I had with the consultant loan repayments were supposed to be R3000 plus at an interest rate of 21% which is what my other ABSA products are, I asked for the recording and that I did not sign any contract for the loan within 10 minutes it was in my account and while the consultant was getting my wife consent and confirming the installments it was already in my account.

To date I have no signed copy of my agreement and same have indicated this is not required as the call was recorded however I can't get a copy of the recording.

The installments are almost R500 more and at 24%. To add to the problem when you have an instalment issue with the bank they just double debit without any permission from you the following month.

Absa this is not right how can a person budget properly.