LM
Lethabo M

1 reviews | Active since Dec 2012

22 May 2020, 19:46

Capitec reducing Saving's Interest Rate without communication

I just realised today that Capitec has reduced the Saving's interest rate to 2.5% from 3%. Is this as a result of the Reserve Bank reducing repo rate by 0.5 basis point? Capitec is not informing Clients of this change in interest rate and continously misleading the public. The interest rate used to be 4.5% last year and now have been to this degree.

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Replies (2)
Capitec Bank
Capitec Bank's reply25 May 2020, 08:45
Official
I acknowledge your posting, and have referred it to Complaint Management for immediate attention.
 
Feedback will be provided within five working days.  I trust that this situation will be resolved to your satisfaction.

Kind regards
Capitec Bank
Capitec Bank
Capitec Bank's reply25 May 2020, 10:30
Official
Good day

As discussed telephonically, I have advised accordingly.

Kind regards
Complaint Management
Capitec Bank