RM
Rendani M

1 reviews | Active since Jun 2016

05 Sept 2018, 15:01

Loan interest that is not consistent.

Am writing this because I have tried questioning same and the consultant failed to answer my questions and I keep paying more. I have asked before I think somewhere 2017 as to why is it that my interest charges is not consistent in that in February I can be charged more and march get charged less interest. I was told you charge 28% interest per annum but the way things are I think am being robed. I want answers why the interest I am being charged sometimes goes up and sometime goes down. My understanding is that when I make payment and the outstanding balance goes down the interest also goes down. Why does this one goes up sometime.

0
Replies (2)
Capitec Bank
Capitec Bank's reply06 Sept 2018, 13:29
Official

I acknowledge your posting, and have referred it to Kadiatou Diallo for immediate attention.

Feedback will be provided within 5 working days. I trust that this situation will be resolved to your satisfaction.

Complaint Management

Capitec Bank

RM
Rendani M's update10 Sept 2018, 09:08
Reviewer Update
Wow 5 working days for tyou guys to have a look on my profile and correct if there is any error. WOW. I don't think you take us as you customers very serious. The fact that I have indicated that I have queried this before should count for something. Why delay that much, I really believe that taking this long is just to look for reasons and excuses why the interest are not consistent. I wonder if same is consistent with the national credit act, maybe I will have to refer this to the national credit tribunal or the bank ombud then you will not take your time.