RIDICULOUS RESPONSE FROM STANDARD BANK HOME LOANS

<p> I have a bond that has a tiered interest rate structure. The first R500.000 has a rate of 9.5%, the interest on which amounts to R9537.21 per month. The second tier has a rate of 10.5% and the bond amount of some R21790 attracted monthly interest of R426.54 per month. These rates and amounts are per Standard Bank's letter to me of 17 March 2016, advising of the interest rate increase.</p> <p>With my monthly repayments since March the bond amount has reduced below the R500,000 threshold so the interest on the second tier amount of R426.54 should have fallen away and I should only be paying the first tier amount of R9537.21. However, not according to Standard Bank, all their computer did was to move the interest in the second tier to the first tier. I am therefore now paying in excess of 9.5% on the R500,000 threshold!!</p> <p>Since the 2nd August 2016, I have been complaining and the only response I have had is that the interest of R9963.75 is correct.</p> <p>It begs the question that if the computer cannot accurately calculate the interest rate that I should be paying, how many other Prestige clients have been similarly ********** ??</p>