FNB - More expensive than Loan Sharks!

FNB should rethink their strategy and concentrate on their customer care instead of pouring so much money into false advertising. "How can we help you?". Is this just something that they feel good saying to themselves? Do they really believe that they are living up to their Mantra?

I opened my first account with FNB when I was 20 years old and now 27 years later, they make me feel sick to my stomach!

I app**** for a student loan from FNB for my daughter around 2010 and when I had paid half of it, I app**** to top it up again to R107k in Jan 2012 as she was still studying further. Thereby bringing my total debt to just under R124k with interest included. It is now 2019 (7 years later) and I still owe FNB just over R108k. I have paid back over R145k, but my statement still reflects that I still owe just over R108k. So therefore, I have now paid back over +-120% in interest which was as per my loan statement going to be charged at 14% per annum as long as I provided the proof of my daughter's continued studies.

Well, She has graduated, but I still owe even more than the original loan after 7 years?

My various attempts over the years to sort this out with FNB have fallen on deaf ears and when you go to a branch, you get told that they cannot assist you and you have to call the personal loans department call centre. When you call the call centre, they are clueless and you get told that they will investigate your query and you can call them in a week's time and they will give you a response. Oh, and by the way they cannot read statements, so they really do not know what is happening with your account!

My advise to all people who took a Student loan with FNB is to get you original docs out and check what the hell is happening, as just like me, you might be paying FNB double the amount and then FNB Life makes lots of money as well as you still have to pay additional CCP insurance and service fees as long as you still owe FNB your original loan amount that does not diminish!!!!

Well done FNB, the next time I need a loan, I would rather go to a loan Shark! At least they will tell me exactly how much they expect to get paid back and they won't keep charging me insurance for money that I do not owe any longer!