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Good day

I would like to express my complete and utter dissatisfaction with my experience recently with this bank, in fact more recently being today at one of your branches in Port Elizabeth, where I am based.

I want to purchase an asset, namely a vehicle which costs R175000.00. Two weeks ago I went for a quotation at another branch in p.e and received a quotation based on my new employment and income details. I received a quotation for approximately R149000 with settlement and inclusion of my existing loans which currently amount to roughly R2600 per month repayment. These loans were granted to me previously on a fixed salary of just R6500 I earned per month.

I have started a newer post in which I earn weekly and my overall income equates to more than double of what I earn now, plus extra incentives on top of that, to which the quote I received two weeks ago was based on.

Today the branch tells me I only qualified for R12000 and that upon contacting credit management, the only explanation I received was that the old quote had expired after 7 days. I haven't made any credit or changes to my existing credit which I own only with your institution.

The quote for R149000,was at a most disappointing interest rate of almost 26%with monthly repayment set at over R7000, and not the loan amount which I wanted or can lightly afford. This is not personalised banking, it disparaging in most terms of the word. How can or could anyone afford an asset at that rate? You wouldn't be able to place food in your or your families stomachs?

I feel that the bank where I have never defaulted doesn't care about assisting me and is more discriminatory toward me than helpful. How can I be offered previously R160000 to R170000 on a smaller income be ****ing me with R149000 at more than double the previous offer and repayment I received with my smaller income earlier in the year.

This is definitely ************** of some kind, and boggles my mind to such an extent that even the consultants cannot explain even today's proposal.

I manage my income well and this is utterly disappointing in the least.

I moved banks in 2016 to capitec mostly because of the transparency and assistance they offered me. I quite understand credit risks etc. But R140 odd thousand at a repayment rate of almost R8000 per month. Surely people's purchasing any assets through you institution will not benefit from it.

I have almost certainly lost out on a great purchase with no explanation.

If capitec cannot offer me this based on their facts of credit to me based on nonsensical judgement of my ethnicity, qualifications and background then I feel this isn't the bank for me.

I will take my mediocre income and client rating somewhere else.

I am prepared to pay more naturally but not to that extent, and the asset I need will cost me, a new vehicle R175000. I've just recently paid off an asset with the last payment going of a few days ago. The bank.won't know that as they don't do their homework and are I'll equipped to even understand how affordability works, if they do not understand their customers circumstances. A serious review is required here. If nobody is willing to assist me then just confirm with Me.

Friends and family pay nothing for newer vehicle or asset which costs more than R200k at approximately max of R4000 odd, insurance included. How is it that I am being ********** with an interest rate and maximum lend of what the bank has determined and not what I wanted. This is what you call robotic banking, And I refuse to play a part of that inexplicable nonsense. None of your staff can explain half the details and restrictions and responsibilities when borrowing from your institution. Financial records of advice are done electronically with no knowledge or explanation to the consumer or understanding of the purpose of this important document. Just a, "I don't know, this is what they're offering". I know what I can afford but no I will get told What the bank thinks of what I can afford and there is no flexibility or perusal around it, it just ends up being a straight yes or no I can't offer you more. No financial needs analysis conducted to determine the qualification of a consumers need.

So if you cannot help based on your predetermined credit analysis of me as a consumer, then so be it.

Next stop the Ombudsmen.

Thank you