PZ
Pumza Z

1 reviews | Active since Jul 2020

01 Jun 2023, 16:10

Not pleased at the level of communication by Nedbank and the interest on interest I am charged despite having settled my loan on the standard term.

I am not pleased at Nedbank's (personal Loan division). I took up a loan in 2019 for 48months, as I approach month 48 I am told I must still pay an amount of R7k in addition to my last repayment, in a telephonic conversation in 2021 with a Manager in that Department, I had just noticed by personal loan term was extended by an additional 7months, I obviously called in to understand why that would be. The Consultants on the Contact center were not very helpful, so I insisted I wanted to speak to a manager, the Manager called me (I have requested this telephonic conversation record to be pulled) it cannot be found. I basically took a payment holiday over the COVID period due to a salary adjustment by my Employer. I initially called to enquire about this, however before I could respond it was app****. Never was I made aware of the R7k interest I need to pay for arrears of R7015 nor has this been explained to me. I have been on email and telephonic calls from 26 May to date no one has provided me an amortization table showing me the interest calculation, not even the Manager I spoke to in 2021 who had told me telephonically that it is not the intention of the Bank to rip me off with additional interest charged. We are here now, I am looking for answers, none has been sufficient to why they are stating I am liable for interest on interest.

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