OH
OMHKAR H

1 reviews | Active since Jun 2020

28 Jun 2020, 17:56

Sanlam - exploiting consumers

I would be very concerned about taking a personal loan with Sanlam:

1. Credit Life - premium does not get reduced as your loan is reduced -numerous calls to the call center and emails, was told that the premium is fixed but nowhere on the contract is it stated - opened a case with the Credit Ombudsman and still waiting for this to be resolved 2. Impossible to get a settlement amount to settle - seems that they find every way possible delay you settling - they send you a settlement at 7.40pm and indicate the amount has to be paid on the same day 3. Its impossible to get through to their call center just to request a settlement amount

Very sad how the consumers are being exploited by these corporations, who find every way to squeeze as much as they can out of you. I will never do business with Sanlam again not will I recommend them to anyone.

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Replies (3)
Sanlam
Sanlam's reply28 Jun 2020, 18:06
Official
Dear Omhkar

We acknowledge receipt of your complaint and will refer it to the relevant department to investigate. 

Kind regards 
Sanlam Client Relations 

Best regards,

OH
OMHKAR H's update29 Jun 2020, 23:55
Reviewer Update
1. I was contacted by your consultant today who could not explain how the settlement balance had increased by over R1200 in 7 days on a small balance of R13000. All she could say was that the system calculates it. I was promised to get it resolved today and I am still waiting.

2. I am also told that the Credit Life Premium is fixed from the date you take the loan, irrespective of what the capital balance. No where in the agreement is this stated.
So if you owe them R10 of the capital you still pay the full premium, that is absurd.

South Africans please take note of this during these difficult times. Some companies don't play fair.
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Why aren't you following these rules:

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Sanlam
Sanlam's reply30 Jun 2020, 14:33
Official
Good day We were informed that a consultant has contacted you.  We will be closing the case on the Hello Peter platform.  Should there by any other issues relating to the matter, we once again encourage you to make direct contact with the relevant consultant. We value you as a client.
 
 Kind regards
 
 Client Relations

Best regards,