Capitec I need to speak to your finance/legal team immediately!

On the 2nd of February I opened a fixed-term savings account on my banking profile. I was offered an interest rate of 7.15%. Everything proceeded as per normal until the 10th of March when, without warning or notifying me, Capitec lowered the interest rate on my fixed-term savings account to 7%. This is *******! Fixed-term savings accounts offer GUARANTEED interest rates for a set term meaning that NO MATTER WHAT happens in the financial market or MPC directory, the interest remains the SAME. I do not understand the confusion here and have yet to find any legislation that permits Capitec to do this.

I have spoken to a consultant, Ashendran Naidoo but no useful/applicable information has been offered. Why am I forced to ensure that the product Capitec has operates the way it is meant to?

I have enjoyed being a customer of this bank since the day I joined but I cannot allow this legal transgression. Capitec, I am going to need much more than your previous explanations as what has occurred is ******* and I am getting more frustrated with each passing day.

Contact me so that we can continue our symbiotic relationship. I will not hesitate to action my rights in this regard and take drastic steps to remove myself from your institution as you are flouting the rules of your own product.