STANDARD BANK: HOME LOAN DISASTER

Good day,

I have a home loan with STD Bank since 2014 of R200 000. My I opted for an fixed interest rate (12.9%).

In January 2020, my monthly premium increase to R3386.29 and it was deducted without being informed prior.

On the 17th February 2020, I received a letter from the bank informing me about the decrease in the prime interest rate/home loans base interest rate of 0.25%, the base interest rate charged on the above account has been decreased to 9.75%, with effect from 2020-01-17.

Although there is a prime rate decrease but my monthly premium was increased and deducted without any communication. Immediately after perusing the letter, I contacted the bank and the consultant could not really explain and understand why is my account messed up because even my interest were up to R1 million. My statement indicated that my balance to-date is R189 000. Does this mean that I only only paid 10k in 5 years & few months with interests???

She referred the matter to her team leader by the name of Elmein. I spoke to him and asked him to call me back because i was running out of airtime as I have been kept on hold for 45min. He promised to give a call back in 10min but he never got back to me.

On the 18th February, I called again and explained my confusion to the consultant, he also was confused as what he see on the system is not the same as to what i have on my letter statement. Also, the remaining bond months and monies paid thus far is doesn't tally. He then forwarded the call to Elmein again as he was the one tasked to handle my matter the previous day but unfortunately it was said that he is in a meeting. I then requested a reference number (***7) for my enquiry and Tebogo (the consultant said Elmein will call back.

I am writing this to you today, after I have called standard bank for the 3rd time, consecutively days now to talk to the team leader, Elmein just to get clarity on why is my account not strictly monitored but still, I found no joy as I couldn't get assisted.

I am strongly convinced that there is inconsistency & dishonesty with in my home loan account and I an being ****** (save to say so because no better explanation was provided to me as to why numbers are not making sense to me as well as consultants) because there is no better explanation and the team leader in home loan department is playing hide & seek with me.

Would you kindly assist with my frustration.

Regards,