CAUTION! WARNING! DO NOT TAKE OUT THIS PRODUCT...REVOLVING LOAN!

<p>I cannot believe that a Bank can be allowed to rip a person off with a product like I was, it is absolutely appalling to say the least. I took out a Revolving Loan in 2011, 6 plus years ago. Capital was R15 000, paying R375pm now still at R12 885 as at 12 July 2017!!! Interest at R212pm (sometimes more) over 72 months equates to R15 264 (already more than the loan I took out and hardly made a dent in the capital). Then there is a Service Fee of R68.40pm which equals R4 924.80 over 72 months!! Credit Life Ins of R34pm equals R2 448. Total cost over 72 months = R22 636!!!! and I still owe R12 885???? I will be dead and buried and this will still be ongoing at this rate!!! I complained and they offered to "help me" and close the Revolving Loan and give me a Personal Loan over 3 years. The Personal Loan to cover the Revolving Loan is R14 083 so now of the R15 000 I have only paid back R917??!!! The Personal Loan now with the Interest, Service Fee, Credit Ins and Initiation fee makes up a total loan of a whopping R25354.76 another R10 354 over and above the original R15 000, all in all this appalling, disgusting product at the end of the next 3 years will have cost me approximately R47 073 possibly more if it is more than 72 months not sure the exact month taken out in 2011. ABSA!!! ABSA!!!! ABSA!!! You should be ashamed of yourselves ripping the average man in the street off like this!!! It needs to come to the attention of the Banking Ombudsman and also the Consumer Protection Act. I am not stopping here, I am so angry that I could be ********** like this. It is as bad as being ****med.</p>