Loyalty does not count with Standard Bank

Last week I app**** for vehicle finance through a dealer with a deposit of R210 000.00 which is 50% of the vehicle purchase price. The dealer sent my application to various Financial Institutions, including my bank, Standard bank. I have been a loyal customer of STD Bank for many years, all my accounts - current account, savings, credit card, investment account, previous home loan with STD Bank, and even the vehicle that I'm driving currently was financed by Standard Bank.

I was very disappointed to learn that STD Bank gave me an interest rate of 12.8% compared to the 11.75% I got from a Financial Institution that I never had any dealings with.

I have a very good credit record with no long-term loans and a very small amount of short-term loans, I tick all the boxes for a better interest rate. I asked for a review, and they gave me 11.50%, just to counteract what the other institutions gave me. I refused to accept it because I believe that I deserve better.

I really would like to know what criteria they used to get to the 12.8%.