FNB NCR bypass

I took out a FNB personal loan to fund my degree as I could not afford it and did not have the option of a student loan as I did not have parents that were willing to sign surety.

After paying more than a year off - limiting my future investment in studies due to fees - I see now that my interest rate on my unsecured personal loan is 34.85%.

Having sat down with a lawyer and financial adviser they have confirmed that this is not right, I called FNB to confirm and they simply said as I took out the loan 2 months before the cap came into effect - they will charge me the 34.85% instead of 28%.

Now for a person paying to fund their own studies to further myself and family - paying so-called black tax and being subjected to this pure thievery - i must say I am totally disappointed in FNB.

I have been a client with them for the past 15 years - having even opened a business account with them this last year.

What do they offer me? Private client status - more fees and no reduction in my interest rate according to the law.

The National Credit Regulator will be opening again on 8th January and as I have been now funded by CrowFunding to take on FNB regarding this item - I look forward to taking this matter further and getting similar customers together so we can take on this unfair system.