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Phila M

1 reviews | Active since Apr 2015

22 Dec 2015, 15:17

INCORRECT RATE VARIATION

I have vehicle loan from Standard bank which was approved at 9,25%. Following the rate hike on 19 November 2015 my interest rate should have increased from 9,25% - 9,5%. However I received a rate variation notice on 21 November 2015 from the bank incorrectly stating that my interest rate would be increased from 9,5 - 9,75%. I immediately queried this with the bank and I was reassured that this had been fixed and a new varition letter will be forwarded with the correct details which should be 9,25% - 9,5%. <br> <br> To my suprise my December statement arrived on the 17th of Dec 2015 still refelcting interest rate of 9,75% instead of 9,5%. I have called the bank to have this matter resolved but there seem to be no urgency on their part instead I am simply told that the matte will be logged and somebody would be assigned to the case.<br> <br> Standardbank is in breach of contract and the service recieved to date on this matter is appalling.

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Replies (1)
Standard Bank
Standard Bank's reply23 Dec 2015, 12:24
Official
Hello philzz,



Thank you for your posting and allowing us an opportunity to investigate your complaint.

This matter will be assigned to a resolution specialist who will contact you to resolve your complaint.

Kind regards

Complaint Resolution Centre
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