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<p>African Bank is the worst financial service provider ever!</p> <p>Why does African Bank include interest, insurance and service cost in the settlement amount? Shouldn’t interest be back dated and terminated when the client request for a settlement amount? Shouldn’t insurance be terminated when the client requests for settlement? What is the risk when the client wants to pay off the account and path ways with such a pathetic provider?</p> <p> </p> <p>You charge maximum interest yet you still want to rip clients in all possible way that you can come up with? I borrowed R44 000 from African bank, I think I have paid about 3 or 4 instalment on the loan and the settlement amount is still R42 323.55, balance is R41 467.27. The settlement amount is basically higher than the loan balance! Taking into account the repayment that I have made, this means that I have been paying interest of R5837.75 in the space of three to four months!</p>