TK
Tozama K

1 reviews | Active since May 2026

18 May 2026, 10:35

FINCHOICE IS RIPPING ME OFF!!!

I have a loan with finchoice and I'm paying monthly installments. All was well until I decided to pay an extra R2000 so that I could pay off the loan quicker.I then noticed on my app that the loan balance was increasing which I do not understand because in my understand the balance should decrease because I paid more not increase .I gave them a call and the agent that I spoke to told me that I was paying interest but she couldn't explain where the interest was coming from .Why should I pay more interest just because I decided to pay more than my monthly installments?plz make it make sense?

0
Replies (3)
Finchoice
Finchoice's reply18 May 2026, 11:05
Official
Hello Tozama, We're genuinely sorry to hear about the confusion you're experiencing with your current loan balance. It's not always straightforward, but we're here to help clarify any misconceptions about how loan repayments and interest are calculated. We can assure you that any additional payment should indeed go towards paying off your loan quicker. Please allow us some time to investigate this for you. We will reach out via email with updates on the resolution. Warm regards, The FinChoice Team
TK
Tozama K's update18 May 2026, 21:33
Reviewer Update
Thankyou for your quick response. The matter was indeed resolved and the balance rectified.
Hope to see the new balance updated on the app as well.
Thanks again .
Finchoice
Finchoice's reply22 May 2026, 16:55
Official
Good day Tozama,
Please note that your complaint has been resolved and closed. If you have any further questions or concerns, feel free to contact us at *** .
The FinChoice Team