1 reviews | Active since Apr 2017
Never take a Loan with Absa
I would just like to express my Disgust with ABSA ,as they are doing the most to rip people off. I had taken a loan in January 2012 for R80 798.00 and paid my full instalment for 2 years which was R2156.73 , in Jan 2014 I went under debt review and Absa reduced my instalment to R801.17 but I have been paying +/- R1148.00 a month sometimes more. My balance at the time I started my debt review was R58 477.00 .On my statement dated 11 DEC 2017 that I received from ABSA my balance outstanding is still R69 272.70, and they say I still have 28 instalments remaining. What I would like to know is how are they calculating these amounts? If I calculate their instalment amount by 28 (801.17x28months) I get R22 432.76 ,how then do I have a balance of R69 272.70? also if I am paying more than what they have requested shouldnt that have reduced the the term as they have stipulated? I called Absa last week to request a detailed statement to see how my payments were being allocated as this seemed to make no sense to me and after 30 mins on the phone and transferred 3 times to different departments I was told I had to request this via email and they refused to help me. They not only wasted my time but also my money that I used to make that call. I have been paying this loan for 6 years and it seems like I havent even made a dent in paying it back. They have been charging me insane amounts in interest even under debt review and are refusing to help me when I call. How then will I ever finnish paying of this loan if they keep increasing my balance. When will i be debt free if I am being ********** like this??? This is ******ion in the HIGHEST FORM and the NCR needs to investigate as I feel that the way ABSA is handling my situation in completely *********!!!!
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Nthabiseng Sibande
Group Customer Care
Absa Bank Ltd
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Nthabiseng Sibande
Group Customer Care
Absa Bank Ltd
