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Godfrey T

1 reviews | Active since Jul 2019

01 Jul 2019, 11:17

Standard Bank *****ing from Student Loans

Standard Bank Charged me in access of 24% Interest for a Student Loan!!!!!, How on God's earth does that happen. When I started paying off the loan I was promised Prime +2% which at todays rate equates to 12.25%, since when is prime 24%!!!!!! their excuse for the high rate was because the rates fluctuates and apparently its calculated by the system therefore they cannot do anything about it (So tell me STB how do you pay an additional 8k for fluctuating rates, do you know anything I do not know), they really think we stupid, if we do not check our statements carefully they will rob us blind. The only way appartently I can resolve this issue is to go through the Ombudsman - Thats what the consultants told me. This is pure theft.

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Replies (2)
Standard Bank
Standard Bank's reply02 Jul 2019, 04:53
Official
 
Dear Godfrey
 Thank you for posting a comment.
  
 One of our consultants will be in contact with you as soon as possible.
  
  Regards,
  Complaint Resolution Centre
  *** 
GT
Godfrey T's update02 Jul 2019, 18:14
Reviewer Update
Dear STB, I have spoke to 4 of your consultants, and 3 managers (eastgate and Carlton managers and Bloemfontein branch ), they all dont know what's going on. They dont even understand how student loans work. How will this consultant be different. Please dont insult me by sending me all over the place again. I worked on this for 2 months with no resolution so please give me the Student loan department with someone willing to look at the case holistically. Furthermore how is it possible that when I ask for period of loan which, they cannot provide this because the system doesn't give this information? It's really unfathomable as to how this has wasted my time. I should have completed paying for this loan ages ago Infact in March but neah now I am only going to complete in October