1 reviews | Active since Nov 2017
Beware of FNB Un-"Islamic" Banking
I have been let down by FNB once again. I had opened an "Islamic" Fixed Deposit account, which account was opened telephonically, several months ago. The Fixed Deposit account was a 6 month account - the 6 months passed. The Funds were reinvested - however I was not informed that it was invested for another 6 months. I now have a personal emergency and need access to my funds but have been informed that I will be charged a penalty. The penalty being charged would eat into my original capital amount invested after FNB sitting with my funds for well over 6 months. It is **************** especially since FNB did not communicate this when opening the account. At worst FNB should charge a penalty limited to the interest/profit earned at reinvestment date, i.e. the capital amount at reinvestment date should not be depleted. FNB obviously does not value customer loyalty, I have been with the bank for over 15 years and have numerous different products taken out with them, i.e. they have made enough service fees and other charges off me. However, in this case I am being ********** and money is effectively being ****** from me.
