DO NOT TAKE A PERSONAL LOAN WITH AFRICAN BANK YOU WILL PAY DOUBLE BACK

Dear African Bank and South African Banks, I want to settle my account with African Bank, i requested for a quote from African Bank, the Balance is less than the Settlement amount. They said if I settle my account the is a charge on it. It does not make sense as to how can the settlement amount be higher than the balance it should be the other way around. I asked the consultant what is this charge for, she could not give me an answer. I want to know what is the fee charge for and why is the settlement amount higher.

The settlement amount should not be higher as the interest that was calculated with the loan term you took should lapse.

The balance amount should already be including the interest for the term of the loan.

I am not happy with the current situation as i would like to pay off this loan and never to take a loan with with you it seems you bind people to a loan and to make sure we pay the full term settling the loan or not.

I will be taking this matter to the banking Ombudman.

I am not happy and i will not take a loan with you or invest my money with your Bank in the future.

Loan Account Number is ***. I have already paid back R32 800, i took a loan of R45 000 and my settlement is still in the thirty thousand this absolutely nonsense.

Regards Unhappy Client