LZ
Lesego Z

1 reviews | Active since Jun 2019

23 Jun 2019, 12:23

No Transparency and Bad service

Hi, I'm Lesego. App**** for a loan with Capitec bank, loan term was 23 months, paid for 5 months and i was left with 18 months to pay. I went to Capitec bank to decrease my installment and added 6 more months to the remaining 18 months in order to qualify for the decrease i wanted. Then i took out a second loan in December 2018 with Capitec that would end at the same time with the 1st loan which was 24 months. I have already paid for 5 months and the Capitec app says im left with 21 months to pay instead of 19 months. Apparently i didn't qualify for the amount i wanted on the second loan so they had to consolidate my 1st loan and they both made these loans 26 months loan terms. Firstly i was not aware that i didnt qualify for the amount i wanted on the 2nd loan, and secondly i was not told that they had to consolidate my 1st loan and this has affected my credit score. Im under the impression that both my loans are ending in November 2020 but Capitec says my loans are ending in February 2021. Went to the branch and i couldnt get any help none of my questions were answered and thats when i found out that my 1st loan was consolidated. Had i not went to the bank to query my loan terms i would not have known that my 1st loan was consolidated. The consultants could not even make me understand my loan repayments. It was such a bad experience especially from a bank i regard as the best bank in the country. Please may i ask that someone gets back to me on this matter because i cant be paying for months i did not agree on and the sad part is that i have already signed my loan agreement which happens to have different information to the information i agreed on and was shown on the screen before printing and signing. Please contact me on *** or email me at ***

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Replies (2)
Capitec Bank
Capitec Bank's reply24 Jun 2019, 10:17
Official
I acknowledge your posting, and have referred it to Wendy 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 
Capitec Bank
Capitec Bank's reply10 Jul 2019, 09:02
Official
Good day  Lesego Z

I trust that you are well.

Kindly note, we have been attempting to contact you via telephone to no avail regarding your matter.  An appointment was setup in order to resolve your matter, however, to date, you have not availed yourself to meet with the relevant role players in your matter.

Kindly note, that if we do not receive a response by close of business today, the matter will be closed on our end.  You are however more than welcome to contact us in future when you are ready to continue with your matter.

Kind regards
Complaint Management
Capitec Bank