1 reviews | Active since Jan 2016
Capitec Multiloan decreased/reduced- no notice
I have a Multiloan with Capitec bank. I stopped using this service for months, but activated the multi loan again in the end of August 2015. I supp**** my updated payslips in branch and my multiloan was increased to R3700. after the very first month this amount was reduced to R2500 even though i am paying on time and in full. the next month it was reduced to R2000. i have been using the R2000 for 3 or 4 months and still my repayments are always on time and never short paid. However, when I tried to withdraw my multiloan today, I was only able to withdraw R437. My limit was decreased once AGAIN without my knowledge or without warning, and not with only a few hundred rand this time. Nobody informed me that this was going to happen or why . I depend on this money as part of my monthly budget, and would like an explanation as to why this is happening and how this will be rectified. i have 2 other loans with Capitec, one i have had for years and have never missed one single payment.
I acknowledge your posting, and have referred it to Zonke Sobekwa for immediate attention.
Jennine Seholoba
Complaint Management: Capitec Bank
I acknowledge your posting, and have referred it to Zonke Sobekwa for immediate attention.
Jennine Seholoba
Complaint Management: Capitec Bank
