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Colleen E

1 reviews | Active since Jun 2019

20 Jun 2019, 09:44

African bank payment brake disaster.

I am African bank client for several years know and have paid off two of their loans, and currently have one loan from 2015 for the amount of R16000,and a monthly instalment of R 746,71.I was so excited to learn that their offering me a 1 month payment brake with of course extra interesr, which I understood.I went to an African branch did an application and I accepted. I got my may statement and I saw that my outstanding balance was R7430.I checked the invoice of the approved 1month payment brake witch stated that my new outstanding amount would be R11722.48 and the the interest for this period is R2499.46. I am so infuriated with myself for excepting this offer and would go back to the branch to try and reverse this before my pay date.The interest is ridiculous, and I could rather have boroud this money from a loanshark at a lower interest.Just a warning to future clients of African bank, make sure you know what they mean, when they say U qualify for a payment brake.

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Replies (1)
African Bank
African Bank's reply20 Jun 2019, 15:59
Official
Thanks for raising your concerns with us. We'd like to call you and listen to your concerns in detail, but we can't get hold of you. Please confirm a convenient time to contact you as well as a preferred contact number. 

We hope to talk to you soon. 

Your African Bank Support team 
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