Settlement Amount on Loan - ABSOLUTE JOKE!

<p>I had no choice but to take out a loan a couple of years ago. My 'UNDERSTANDING' (read sneaky) bank , FNB, gave me a loan for R18500 - once the loan ends they will have made over R43600 from the loan. I had a previous loan that I had with them and settled it earlier. Due to an early settlement, I received a discount on the settlement.</p> <p> </p> <p>TODAY I phone FNB, as I am interested to settle the loan,BUT based on a settlement amount - So I ask the call centre lady for a settlement amount, NOT an outstanding balance - My current balance on the loan in R4161 (on a R18500 that I have paid over R800/close to R900 p/m for the last 5 years on - do the math! Horrible deal!) The 'settlement amount' she gives me is over R4200 for an EARLY SETTLEMENT!! Are you kidding me??????? So no,as previously agreed on, lower fee as a settlement amount???? Just 'Hey, pay more than your current balance,so we can ***** you even more on the close to R50K we already made from you'</p> <p> </p> <p>So I need to find out why? Is the call centre agent just not clued up? Is this FNB's new policy? No more discount for early cash settlements on loans? I just settled an amount with ABSA 2 months ago . On an outstanding balance of OVER R6000, I got a settlement of just over R2000 (cash)</p> <p> </p> <p>Why then,FNB do you feel it's in your best interest to keep a 10+ year client under your thumb,instead of saying here, sir, we see you want to do the good thing, let's help you out?</p> <p> </p> <p>Pathetic guys! Never again will I take up an FNB offer for a loan,card,device etc. Sanlam, my other loan, gives me rewards on my loan amounts, etter discounts on settlements etc. and an offer on a loan extention, that FNB declined.</p> <p> </p> <p>Thanx guys!</p>