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Colleen H

1 reviews | Active since Oct 2019

11 Oct 2019, 19:52

Ridiculous interest with no chance of negotiation for loyal clients

So I have had a had a home loan with standard bank for about 3 years now. At the time I didn't realize that an interest rate of 14.7 percent was extremely high as I was a first time buyer and not well clued up. I recently emailed Standard bank to ask if I can negotiate a better interest with them since I have been a loyal client paying my bond religiously and my credit score has improved a lot. Standard bank then replies that they only relook interest rates on new bonds not old bonds. Meaning I'm stuck with a high interest rate for 30 years. So only new home loan clients get good benefits. It makes no sense. Standard bank has really disappointed me I really thought they would meet me halfway. Since I have been banking with them for years... I expected much more...

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Replies (3)
Standard Bank
Standard Bank's reply12 Oct 2019, 05:28
Official
Thank you for posting your comment.

We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.  

We apologize for the inconvenience and undue frustration, this has caused.  

We greatly appreciate your continued support 

Kind regards 

Complaint Resolution Centre
**********
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Colleen H's update14 Oct 2019, 13:46
Reviewer Update
Hi I am contactable on this number ***...urgently awaiting a call
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Colleen H's update10 Nov 2019, 21:11
Reviewer Update
This is so sad I am still waiting on a response from standard bank like they promised. I feel disappointed that my own bank makes empty promises. Unwilling to even try and negotiate. Bad service and empty promises.