Exploitative - Don't do business with Imas

Can the NCR please investigate this:

Loan Amount: R60k in 2022 Average Monthly Instalment: R1600 - R1800 Average Monthly Interest: R1000 - R1300 Settlement Amount 2 years later: R46652.00

Looking at the above breakdown, the instalment only really pays for the interest, on an average, only R300 - R500 goes towards the actual principle debt. In 2 years only, as far as the principle debt ONLY goes, only R13000 of the debt was paid yet well over R60 000 was debited from me, including the settlement amount I paid, over R100 000 was taken from me, yet, my actual debt only moved by R13k. I still had R45k+ to go until I was done paying the debt, but with over 70% - 80% of my instalment going to interest only, how many years would that have taken me?

As at 30 September, my balance was R45 833 and I asked for a settlement, no discount given, instead I was given a settlement balance of R46 652, charging me additional fees.

Furthermore, Imas, "out of the goodness of their heart", allocate a certain portion, a very small portion of your interest to a Rewards programme. My reward, after R106 652 or eve more paid for a R60 000 loan, is R1603.00 and I will be charged a further R455 admin fee to get it, BUT I can only get it in 2 years because of the new financial year.

This is despicable and exploitative! How is this justifiable? Yes we sign contracts in times of desperation but how is the NCR allowing such predator behaviour on consumers? I am certainly escalating this to the highest level I can get it to.

In closing, Patricia you are so helpful and you are an absolute star, your assistance on WhatsApp was phenomenal, you certainly deserve to work for a better company my dear, your customer service and patience is noteworthy.