**** NEDBANK LIMITED AND ALL IT'S *****ES

I am extremely frustrated with Nedbank. I took out a personal loan, intending to pay it off quickly to avoid damaging my credit. I notified them that I was facing financial difficulties due to job insecurity and requested forbearance in the form of either a zero-payment arrangement or a reduced monthly installment. However, they informed me that such support was not available, as they do not offer that type of assistance. They did mention an option to pay only the interest, but this arrangement never materialized, even when I opted for it.

In an attempt to stay on track, I managed to gather R10,000 and made a payment, which should allow me to skip a few months of payments while I work on paying off the balance. However, I was told that this early payment does not qualify me to skip any months, meaning that without the funds for March and April, I will fall into arrears.

To avoid this, I requested that they re-amortize my loan and adjust the monthly installment to reflect my current outstanding balance rather than the original, larger installment based on the higher balance. Continuing to pay the original larger installment no longer makes sense since my balance has decreased.

Throughout this process, I’ve spoken with five different representatives, two of whom went silent during the call, and one who transferred me without offering any resolution. Additionally, during another call, the line dropped, and I received no follow-up. This lack of support and professionalism has led me to decide to move my business to Discovery, as I can no longer deal with the inefficiency and poor service from Nedbank.

I am incredibly frustrated and disappointed with the way this has been handled.