Sanlam Loan - Pathetic Settlement Amount!!

<p>I have a loan with Sanlam,that goes off religiously. I have an opportunity to settle the account in full, but based on previous experiences, a cash settlement in full warrants a discount on the Outstanding Capital amount - this entices the client to settle the amount earlier, AS Direct Axis/Sanlam has already made a TON of prifit on the loan!! So having the client settle earlier would not be an issue.</p> <p> </p> <p>So I requested a settlement amount - which took 2/3 weeks to get in a very weird email - almost felt like I was dealing with the damn mob! I rep**** and did not receive a reply to my final email.</p> <p>YET, I get aleast 2 calls a week to find out If I want to extend my original loan,I get sms's weekly,mails weekly to ask the same. I have to constantly tell them the same thing,when I get a call, and the system is not being updated.</p> <p> </p> <p>I saw the settlement amount in the email and must say that it's quite a pathetic settlement amount in regards to an early settlement discount.</p> <p>My previous loan settlements were between 15-25% discount per amount, when settling a loan in full.</p> <p>Your proposed settlement amount is R4094.21.<br />That is a R70.61 discount for early settlement on my Outstanding Capital Balance and a R212.44 on the Actual Contract Balance.</p> <p>So +- 5.1% on the actual outstanding amount and less than 1.7% on the outstanding capital balance.</p> <p>So needles to say that this is just settling the actual amount and not a true settlement as I discussed with another agent.</p> <p> </p> <p>How is this ethical? How is this good business for a client that wants to settle?</p> <p>A Client that would, if ever needed, come back to Direct Axis/Sanlam for whatever loan might be required??</p>