MW
Marius W

1 reviews | Active since Jul 2013

17 Aug 2015, 10:09

Sanlam has become loan sharks

Sanlam offered me a medium term loan via the mail as I have various policies with them. Coming from Sanlam I trusted the offer and app**** for the loan. They were very vague on the costs and interest and never really put it forward to me straight up. Only after I have signed for the loan has it come to my attention that this loan was from Direct Axis whom I consider ********* loan sharks. The costs are a complete ripoff. After I paid in R40 000 towards the loan they are still charging me interest on the full amount. I am in the process of cancelling all my Sanlam policies and moving them elsewhere. I'm also telling everyone I know to stay as far away from Sanlam as you possibly can. Chances are, there's a **** hidden in the fine print!!

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Replies (1)
Sanlam
Sanlam's reply17 Aug 2015, 10:14
Official
Hello Mariusw@them,

We acknowledge receipt of your complain and will refer this matter to our Sanlam Personal loans department for urgent investigation.

Kind Regards
Client Relations