PT
Phuluso T

1 reviews | Active since May 2019

02 Oct 2022, 09:02

Outrageous loan interest rate

Good day

I have a revolving loan with Capitec Bank, account number ***.

Sometime June/July 2022 I was advised that the loan repayment is going up the amount moved from R6030 to R 6886.20, I called the bank negotiation as i said the amount will be steep for me to pay the laddy who advised me said the system cannot be overided.

Last Month September 2022 paid R 2000.00 and got a notification that the account is blocked in arears of R4886.20 and I paid R 5000.00. The balance come down to R134 000+ on the 30th September 2022. Today on the 2 October2022 when i check my balance is went up to R137 050.50. The repayment period is also not going down.

The interest rate is going up not as per our contract agreement.

I need this dept rectified since the beginning of the year 2022 I have already paid R 92 730.00 from minimum installment amount and I do not have access anymore to the account.

This is pure outrageous...

kind regards Mr. P.S Tshikalange *** *** ***

0
Replies (1)
Capitec Bank
Capitec Bank's reply02 Oct 2022, 16:00
Official
Good day Phuluso 

Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day. 

Kind regards 
Capitec Bank