T
Tshepo

1 reviews | Active since Jan 2024

17 Dec 2024, 10:01

Loan repayments not making any difference to the outstanding

I'm having trouble comprehending how making a payment of 5.2k monthly with an outstanding balance of 146 225 in October now in December the balance is at 143 595..meaning I've been paying 1k in the last 2 months...how is it that my loan repayments not making a difference in my outstanding...would I be wrong If I dump this bank for the standard because it's trash

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Replies (2)
Capitec Bank
Capitec Bank's reply17 Dec 2024, 10:41
Official
Good day Tshepo. We acknowledge receipt of your query and have assigned your matter to a designated official. You will receive further contact within the next business day. Kind regards Capitec Bank.
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Tshepo's update16 Jan 2025, 17:45
Reviewer Update
I'd like to have a deep explanation via email since I'm not reachable on my cellphone. Why is it that I pay R5 212 per month yet my previous outstanding was at R143 595 and now it's at R142 294 making it as though I paid only R1300 toward the loan...how does that happen