Non-compliance to pre-quoted interest rate and re-investment amount

Five years ago I invested in a 60 months fixed deposit investment account with interest to be paid on expiry, which was on 10/10/2024. I opted to re-invest a portion of the capital again in the 60 months fixed deposit account with the interest to be paid on expiry. The decision to re-investment was based on the pre-quoted interest rate of about 13%. Last night at 21:20 (after the fist day of the re-investment) I received a sms from African Bank stating that the interest rate has changed to 9.94%. When I accessed my app, I further noticed that the re-invested capital significantly differs from the capital amount I agreed to invest. The payout of the interest on the initial investment is also being awaited.

I would not have re-invested the capital at an interest rate of 9.94%. Why was this change in interest rate not communicated before the re-investment? I find this conduct to be ********* and unfair towards me. I can no longer trust African Bank with my investments.

I hereby request that the re-investment immediately be cancelled and that all capital and interest be paid out immediately.

Should I not receive resolution timeously, I unfortunately will have not option but to refer a complaint to the FAIS Ombudsman. I trust that drastic measures will not be necessary and that I can rely on African Bank's urgent co-operation.

Disappointment is the understatement of the year!