GG
Gerald G

1 reviews | Active since May 2014

23 Dec 2015, 10:43

Interest Rate of Overdraft Facility incorrect

I've take a Temporary increase in overdraft facility of R3000 with Nedbank<br> <br> I was told that in terms of this agreement that on the 20/12/2015 when the temporary contract expires (82 days) and the R3000 paid back that<br> The old contract of R15000 will apply as initially entered into ,<br> Nedbank changed the limit but kept interest rate the same (13.25%) this is absolutely disappointing .<br> Nedbank should have updated their system to the old interest rate. (11.00%)<br> But I was informed this morning that the interest rate on my overdraft is still 13.25%.<br> This is incorrect and a breach of contract , We need answers to avoid banks robbing people of their hard earned money ,Does anyone agree ?

0
Replies (1)
Nedbank
Nedbank's reply23 Dec 2015, 11:56
Official
Hello govendg,

It is not our intention to cause you any further distress or inconvenience. We definitely take your concerns to heart and a resolution manager will contact you about the way forward.

Kind regards
Client Experience Team