WS
Willem S

1 reviews | Active since Oct 2016

06 Jul 2020, 16:29

Insane interest on COVID loan!

I realise my mistake in not reading the fine print but the way FNB set up this whole thing is infuriating.

App**** for the Covid-relief loan, they approved around R12000 for 3 months of debit orders. Now I know I should have read the fine print but nowhere was I able to download the loan agreement, so I just accepted believing FNB cares for my interests. They truly want to help.

What happens is that the entire amount gains interest from the begining. I ended up using the loan to reimburse me after only one R300 debit order over two months. Thus a total of about R600. Called in to cancel the loan and the settlement includes about R500 of interest!!!! ON R600 OVER TWO MONTHS!

I realise that this is not a fight I will win and dont expect any grace from this banking giant but I am very annoyed with their service lately.

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Replies (1)
WS
Willem S's update08 Aug 2020, 01:31
Reviewer Update
I am so sick and tired of this loan!!! Please FNB let me out of your clutches!

So I paid the settlement as per their quote and within the timeframe they gave. The darn account is still running interest on the darn money that I never got!!!!!!!!!! What the hell is wrong with you?