Worse than a loan shark....
Capitec is honestly worse than a loan shark and it's a sad day when settling a loan costs more than the balance left on the loan. How is that possible? I have emailed and sent follow up emails but to response. I want to know what informs their calculations? I have called numerous times to find out and the settlement amount and when I ask why is the settlement amount more than the balance left on the loan, I am told that they are charging for the interest they would have made if I did not settle. That does not make sense plus it's *******.Capitec prides itself at being a bank for the masses particularly low and middle class but in reality they are robbing people because they know most people may not know their consumer rights. The aim of Capitec is really to keep you in debt for as long as they can
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
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
1. Their settlement amount is more than the balance of the loan
2. Interest rate flauntes daily..so you settlement amount depends on time of the month you are asking for it as their agent explains why the settlement is more than the balance
3. Your loam period increases without notice or explanation
4. Their balance keeps increasing, on Friday they deducted their instalment and the balance left on Friday has increased by R1112 today. Why?
I have asked on more than 2 platforms for a written response but nothing. I guess Capitec believes its above any regulations
1. Their settlement amount is more than the balance of the loan
2. Interest rate flauntes daily..so you settlement amount depends on time of the month you are asking for it as their agent explains why the settlement is more than the balance
3. Your loam period increases without notice or explanation
4. Their balance keeps increasing, on Friday they deducted their instalment and the balance left on Friday has increased by R1112 today. Why?
I have asked on more than 2 platforms for a written response but nothing. I guess Capitec believes its above any regulations