Day light ******* by Standard Bank - Please intervene

Hello Peter.

I am hoping that you will be able to assist me here.

I took out a personal loan from Standard bank in 2015 and the 1st instalment went off on the 31st of July 2015.

The agreement on the contract (communicated to me via telephone) was that I will pay for 54 months an amount of R3098.

This agreement was done over the phone, after which no paperwork was ever sent to me I.e. contract of agreement etc. In this regard, no clauses were read out to me or such information sent to me. None!

The amount that I owed the bank came to R167000 (including interest). As agreed, I would pay for 54 months and at an amount of R3098.

I have been paying without fail, I have never revolved on this account ever! for the past 4 years and 4 months. As far as I know December 2019 will amount to 54 months that I would have been paying this loan out and I know I should have settled every cent owed to the bank including the interest.

I called in earlier this year to ask for statements and they told me that I don't get statements on this account. Is there such a thing?

Now that I know am about to finish paying out the loan in 2 months, I am being told that I have 6 additional months ( outstanding balance of R20000) that I need to continue making a payment as interest rates have changed and have affected my account. To my surprise as I know I am left with around R6000

My frustrations are as follows: 1. No one told me that should the interest rates change, I would owe the bank more and might be subjected to paying more money than what was agreed upon and on additional months. 2. I have never even seen the contract with my bare eyes, until I fell into this dispute, thats when Standard bank cared to share content of the contract - which its too late for me. 3. I was never even aware of the clauses that were detailed on this contract as nobody cared to inform me (as I had never seen that contract). 4. How does interest rate affect the money that I owe to them, if the agreement was that I would pay for 54 months an amount of R3098 ( including interest)? 5. Even if the interest rate changes affected this account, why was I not informed on email, by telephone, or why was the repayment amount not adjusted to a suitable amount that would have me repaying within the 54 months as per the agreement?

I am very unhappy and very angry actually about this situation. I feel ****** by the bank that I trusted, I feel disrespected , I feel dishonoured and taken for a fool.

This is purely *********.

Standard bank has misinformed me and now I have to suffer by paying them more.

I have plans for my future but because of Standard bank robbing me, my future is bleak. I feel like if I don't take action, I will owe them until my last breathe and other people will fall into the same trap.

Please assist me where you can. I have no power and I have nowhere to go.

I cant be owing 6 additional months and no one from the bank cared to inform me about the changes.

From an angry and dissatisfied Standard bank customer. ***